SUFC: The Future SUFC up for sale

[Holy Joe]

Firstly, and most importantly, congratulations @BoyWonder2!

Now, and in an attempt to bring a little calm to those who are likely to get panicky the nearer we get to August 23rd, let's look again at the scenarios in play here, of which, as far as I can see, there are 4.

1) He sells completely
2) He gets outside investment
3) He soldiers on, and
4) He lets the club fold.

Taking number 4 first, he isn't going to do that so don't worry. If there was any inkling of that being in his plans he wouldn't have put £2m in a few months back, he would have just let the club go at that point. So whilst it's a possibility, IMO it won't happen.

Now, back to the top.

He clearly isn't going to sell completely at this stage. It doesn't really matter what we want him to do, he has his pot of gold, which is substantial, and it could be that the reason he doesn't want to sell is because any potential buyer that has surfaced so far has designs on achieving a return on their investment and also a slice of his pot of gold, i.e. they want some of what he's getting. He may not want to give that up as he has taken 25 years to get to this point. In any event, there is no current sale progressing, so we can put that one on the back burner.

We have a court deadline of 23rd August which may or may not get adjourned. However, the more important deadline is now for the National League as we will get at least a 10 point deduction if he doesn't clear all football creditors by then and everything else has to be paid up throughout the season on time to avoid a similar penalty, which will be immediately applied.

The only way to avoid that is to endure that enough money is raised to see us through the season.

If that isn't going to be raised by a sale, then that only leaves options 2 and 3. I am sure that many ITK's will agree that over the past 2-3 months, there have been occasions where Ron has appeared desperate. However, he isn't desperate at the moment, indicating that either outside investment is very close, or he has the money.

I would imagine he has gone down the outside investment route, I really don't think he wants to remain involved very long. But if he has the money, pays off the football creditors, gets the embargo lifted and we can continue as normal, then personally I will take that if it means we get back to watching the football on the pitch and being entertained.

That's the important bit for me.

What do we actually mean by investment though? I think we can split that into 2 further options, 2a - Ron sells a minority stake or borrows money remaining in control but with the club sufficiently funded for the foreseeable future (say 3 years) or 2b he sells a majority stake losing control of the football club

 

[CRATE]

What do we actually mean by investment though? I think we can split that into 2 further options, 2a - Ron sells a minority stake or borrows money remaining in control but with the club sufficiently funded for the foreseeable future (say 3 years) or 2b he sells a majority stake losing control of the football club

Either way who ever invests in the club is going to want to move shares and debt around to own a minimum of 75% either way!

 

[rigsby]

The thought of RM still hanging around the club like a bad smell fills me with horror.

If he never intended to sell the club as he stated it would of been better to have said at the start in March "i am only looking for outside investment", not lead the fans and interested parties who have spent a lot of money on DD down the garden path and muck them and us all about with stupid statements and lies on his lawn saying differently.

I still don't see the court giving him yet another adjournment, he has to pay but he just lied to them about a sale as well and just used Kimura.

He said quite clearly that it could be investment or sale. The problem was most fans only listened to the sale part of it. I did warn one of your Mods about 2 months ago in a PM not to underestimate Ron......I didn't mean that in good way.

 

[ForeverBlue]

I have no proof that any of the groups exist, that's half the problem at the moment but let's hope they do exist.

In regards to this Pinto bloke, he had no luck when trying for Kimura so why use him again. I don't care how good he is supposed to be get someone that can deal with RM/

With all due respect, no one can deal with Ron Martin, he’s impossible to deal with. Just ask most people who have ever done business with the guy.

 

[Holy Joe]

Either way who ever invests in the club is going to want to move shares and debt around to own a minimum of 75% either way!

wouldn't that be option b, with Ron not in control. To me I wouldn't call that an investment, I'd call that a sale of a majority interest.

 

[Westcliff DGS]

Either way who ever invests in the club is going to want to move shares and debt around to own a minimum of 75% either way!

They wont own 75% unless they buy from those that got the shares years ago, thats 29.1% isnt it?

I mentioned a while ago I am sure there will be a rule / law somewhere that says if you own less than a certain % and a take over happens you can lose your shares or something. There are always little things like this to catch people out, hopefully for those shareholders there isn't, just saying it wouldn't surprise me

 

[BoyWonder2]

That is how i see it BW and congratulations on the birth of your son.

We have no proof though that these Aussies even exist, so who knows what game RM is upto now.

Yeah, I know nothing of the Australian group.

I’ve heard various things, but not a name of anyone involved, not a company name, nothing. However, I do believe them to be true, and they do appear to be further down the line that the magnificent 7.

Obviously time will tell, and even those with their fingers on the pulse and closest to the deal won’t know what’s happening about from RM, and that’s the problem.

 

[Userorange]

I don’t know why everyone thinks Ron wouldn’t continue to run the show on a day to day basis if he no longer had majority control of SUFC. If that’s what the investors want, that’s what will happen.

 

[tommy tucker]

The petition can remain open even if HMRC are paid. Not sure what the NL is asking of us exactly but we will need to clear the tax bill part of the petit

The thought of RM still hanging around the club like a bad smell fills me with horror.

If he never intended to sell the club as he stated it would of been better to have said at the start in March "i am only looking for outside investment", not lead the fans and interested parties who have spent a lot of money on DD down the garden path and muck them and us all about with stupid statements and lies on his lawn saying differently.

I still don't see the court giving him yet another adjournment, he has to pay but he just lied to them about a sale as well and just used Kimura.

We don't want another adjournment either pay the bill in full Ron. Or suffer the consequences

 

[bertbert]

ALL CLAP TRAP EVERY DAY FOR MONTHS. NOTHING WILL HAPPEN.UNTILL THIS SO CALLED LOVING MAN OF SOUTHEND UNITED IS WELL OUT OF IT.HOW CAN EVERY BODY BE TAKEN IN BY LIES LIES LIES.

 

[Cricko]

Anybody know when the planning meeting to discuss the FF plans is due? I just cannot see how anybody would invest money into a loss making club with no planning permission on FF yet apart from the old one.

He has already taken on huge debts at FF through borrowings and has several partners in that project already who have stumped up cash for him on a wing and a prayer.

 

[shrimperjon]

Sorry for the delay. I’ve been at hospital all day for the safe arrival of baby boy number 2. Just got home.

RM is being RM. But the impression I get is, for whatever reason, RM isn’t going to sell to Kimura/Kimura consortium. No idea why that is the case, but despite what RM & Anna Firth said, Kimura have provided proof of funds three times, and all three had been accepted. Kimura had/have the money to completely buy the Club. They are part of the magnificent 7, that @CRATE has links and is provided with correct information.

@rigsby is talking about another group, and I’m led to believe that’s the Australians. The impression I get, is that they’ll invest, and buy RM out of his controlling stake, and replace him as chairman, but he’ll retain a small % stake of shares and POSSIBLY be involved in FF going ahead, and our future laying there.

The magnificent 7 would remove us completely of RM. He wouldn’t be in the picture. I believe they tried to buy “everything” and I believe they’ve tried to buy “RM’s deal be put on the website”. Bids have been ignored, correspondence has been ignored and so on.

There are a few other rumours knocking around, but I’ll stay clear of those for know.

I believe the Australians are further down the line, and this ties in with what @rigsby is hinting at, and also what @Smiffy has hinted at of the post RM party. Whilst he wouldn’t be completely gone, he wouldn’t retain anything on the football side of things. I know that won’t please everyone, but it’s a start, which hopefully leads to the complete removal of RM further down the line.

As for @CRATE breaking his own NDA/verbal agreement with Pinto and co, he shouldn’t have to. Just like anyone who is providing information on here shouldn’t break the trust of their sources. Some choose to share/proof their findings to some, I’m sure there are others who just realise snippets and so forth. If he did post all his proof, share all the messages and whatever else he has, he’d break the trust he has, and not have that information again moving forward. I know some don’t like cryptic posts, or the snippets or half stories some people let out, but if people broke the trust of their sources, we’d always be waiting for the Club/Echo to break stories, and that isn’t the best way around either.

Great post BW and also many congrats on baby number 2

 

[TUMBO]

I do wonder if we'll look back and say the 4-0 win against Oldham was actually a bad thing.

If that was a reverse and we had lost 4-0, would pressure have ramped up on Martin further?

We're all praising the management and players (and rightly so after what they have endured) but pressure / protests has certainly cooled from what we have seen the last few weeks.

Kev and the players all deserve statues, but if we had lost that game (and heavily) we would surely be piling more pressure to pay off the debt so we can sign further players/ sell the club immediately in order to bring in players before the next game took place, through protests again at his house etc

 

[JAL]

I do wonder if we'll look back and say the 4-0 win against Oldham was actually a bad thing.

If that was a reverse and we had lost 4-0, would pressure have ramped up on Martin further?

We're all praising the management and players (and rightly so after what they have endured)

Kev and the players all deserve statues, but if we had lost that game (and heavily) we would surely be piling more pressure to pay off the debt so we can sign further players/ sell the club immediately in order to bring in players before the next game took place.

Its the same either way, Ron is still a ****

 

[Shrimper44]

Sorry for the delay. I’ve been at hospital all day for the safe arrival of baby boy number 2. Just got home.

RM is being RM. But the impression I get is, for whatever reason, RM isn’t going to sell to Kimura/Kimura consortium. No idea why that is the case, but despite what RM & Anna Firth said, Kimura have provided proof of funds three times, and all three had been accepted. Kimura had/have the money to completely buy the Club. They are part of the magnificent 7, that @CRATE has links and is provided with correct information.

@rigsby is talking about another group, and I’m led to believe that’s the Australians. The impression I get, is that they’ll invest, and buy RM out of his controlling stake, and replace him as chairman, but he’ll retain a small % stake of shares and POSSIBLY be involved in FF going ahead, and our future laying there.

The magnificent 7 would remove us completely of RM. He wouldn’t be in the picture. I believe they tried to buy “everything” and I believe they’ve tried to buy “RM’s deal be put on the website”. Bids have been ignored, correspondence has been ignored and so on.

There are a few other rumours knocking around, but I’ll stay clear of those for know.

I believe the Australians are further down the line, and this ties in with what @rigsby is hinting at, and also what @Smiffy has hinted at of the post RM party. Whilst he wouldn’t be completely gone, he wouldn’t retain anything on the football side of things. I know that won’t please everyone, but it’s a start, which hopefully leads to the complete removal of RM further down the line.

As for @CRATE breaking his own NDA/verbal agreement with Pinto and co, he shouldn’t have to. Just like anyone who is providing information on here shouldn’t break the trust of their sources. Some choose to share/proof their findings to some, I’m sure there are others who just realise snippets and so forth. If he did post all his proof, share all the messages and whatever else he has, he’d break the trust he has, and not have that information again moving forward. I know some don’t like cryptic posts, or the snippets or half stories some people let out, but if people broke the trust of their sources, we’d always be waiting for the Club/Echo to break stories, and that isn’t the best way around either.

Firstly congratulations BoyWonder2 and secondly thank you for your update.

You must be absolutely shattered.

Let's hope hope we all get some good news soon so we can all celebrate.

Come on you Shrimpers

 

[basilrobbie]

take a look at the existing accounts .... free on companies house

and imagine you have access to all outgoings on an easily readable excel

and imagine an excel sheet with all incoming revenues - plus date of receipt

imagine you had a competent accountant and book keeping team producing weekly management accounts ...

imagine a department by department cost/revenue breakdown ..

imagine you had a decent relationship with your bank .

imagine goodwill doubled the commercial income ...

imagine you were genuinely debating, instead of just winding people up.

 

[Napster]

By the way, I have written an ungrammatical article for the fanzine on the great and largely forgotten Harry Warren.

 

[Leeboy]

By the way, I have written a article for the fanzine on the great and largely forgotten Harry Warren.

off topic? Mods ban this person please

 

[kentblues]

Sorry i should of added regarding a sale not an investment, if of course that is even true.

I think at some point we need to define what we mean...

If someone is purchasing a controlling share of the club, with a smaller holding retained by Ron, the club has a new owner? Ron currently has 70% of the shares- is he the owner or merely an investor?

To me an investor is someone who puts money into the club for a return, but without taking ownership. This doesn't fit with what I hear re the Australians. Maybe someone knows different???

Just strikes me we throw terminology around without necessarily defining what we mean?

 

[overseas shrimper]

off topic? Mods ban this person please

And self-promoting. Burn him.