SUFC: The Future SUFC up for sale

[Lincoln Shrimp]

This takeover process is going to test the patience of us all. I believe it could be a number of weeks yet before any deal gets over the line.
I'm told Nash and his team have already held 4 meetings with General Sports Worldwide. The last of those was last month.
The DD process needed to fully unravel the mess that Ron's created must be a torturous one.

 

[Callum]

This takeover process is going to test the patience of us all. I believe it could be a number of weeks yet before any deal gets over the line.
I'm told Nash and his team have already held 4 meetings with General Sports Worldwide. The last of those was last month.
The DD process needed to fully unravel the mess that Ron's created must be a torturous one.

Let’s hope this deal gets done nice and smoothly ready for king Kev and co go and get players in July

 

[Yer Blues]

Both

Stan will no doubt be using his contacts to put people in touch with each other and am certain that's already happened.

That said, he's not doing the actual deal himself. More a facilitator. He's not gonna be commenting on behalf of anyone in relation to the sale and nor should he.

I think the sale will happen. I think we'll be surprised at the amount and calibre of interest in our club.

I'm hopeful this will be concluded positively the next few months.

 

[Clinton Baptiste]

We're going vegan like FGR. Because if you're vegan you have to announce it to the world.

 

[Richard Hearn]

We're going vegan like FGR. Because if you're vegan you have to announce it to the world.

Every 25 minutes.

 

[AlfaShrimper]

This takeover process is going to test the patience of us all. I believe it could be a number of weeks yet before any deal gets over the line.
I'm told Nash and his team have already held 4 meetings with General Sports Worldwide. The last of those was last month.
The DD process needed to fully unravel the mess that Ron's created must be a torturous one.

Is this fully confirmed he is actually interested?

 

[Spaceman Spiff]

Rumour has it the big announcement tomorrow is @OldBlueLady has been hired as Ron's new cleaner.

If she has, it’s only so she can lace his loo seat with Novichok

 

[The Original Tribal Chief]

It would be fabulous if this thread could just be about the prospective sale rather than 'jokes' about onions, burgers and Ron's cleaning lady which are all about as funny as AIDS.

 

[pottster]

It would be fabulous if this thread could just be about the prospective sale rather than 'jokes' about onions, burgers and Ron's cleaning lady which are all about as funny as AIDS.

To be fair jokes about Ron's cleaning lady and his hair are really funny.

 

[Bromley Blue]

Don’t understand how people expect a business to be bought quicker than you can buy a house?

I’d expect it to take 4-5 months (total guess by the way) minimum and that’s probably if there were no forks in the road with negotiations and all information needed as part of the DD process was readily available. Ron hasn’t filed our accounts in years. I think anyone who thinks he’ll be gone by the start of next season is……..wide of the mark.

The only caveat I’ll say to this is if Ron’s already been in negotiations with an interested party from well before his big announcement.

Which is quite possible but I’m not gonna hold my breath.

 

[JAL]

It would be fabulous if this thread could just be about the prospective sale rather than 'jokes' about onions, burgers and Ron's cleaning lady which are all about as funny as AIDS.

Cheer up.

 

[bazzashrimper]

We're going vegan like FGR. Because if you're vegan you have to announce it to the world.

The irony of all ironies. Onion burgers

 

[kentblues]

Bear in mind whilst we might not have had the accounts signed off by auditors they will have been prepared. A buyer is likely to want them audited of course prior to any sale, and no doubt have their own forensic audit as part of any DD process.

Sales can and have happened in days. But there is a saying in negotiations that time is always working for someone- in this case both parties for different reasons may want a quick sale. Ron can’t afford, let alone wants, to keep putting money in. If the new buyer isn’t on board in the next few short weeks next seasons chance of getting out of this league will be jeopardised…

 

[NZamba Legend]

It would be fabulous if this thread could just be about the prospective sale rather than 'jokes' about onions, burgers and Ron's cleaning lady which are all about as funny as AIDS.

Harsh

 

[Tommy2holes]

Don’t understand how people expect a business to be bought quicker than you can buy a house?

I’d expect it to take 4-5 months (total guess by the way) minimum and that’s probably if there were no forks in the road with negotiations and all information needed as part of the DD process was readily available. Ron hasn’t filed our accounts in years. I think anyone who thinks he’ll be gone by the start of next season is……..wide of the mark.

The only caveat I’ll say to this is if Ron’s already been in negotiations with an interested party from well before his big announcement.

Which is quite possible but I’m not gonna hold my breath.

Maybe the average sale is dealt with by the average bank clerk, mortgage broker and people with a far larger wealth hire a plethora of far more capable individuals for a substantially higher price. It's hardly a 2 bed semi arranged through Bradford and Bingley.

I've heard from various sources that SN has shown interest along with other parties. How true that is I don't know, but there is generally no smoke without fire.

The wealth of the people supposedly interested is far beyond what Ron will ever have.

The wheels are turning and as much as we would like them too, we can't make them turn faster.

 

[Smiffy]

Bear in mind whilst we might not have had the accounts signed off by auditors they will have been prepared. A buyer is likely to want them audited of course prior to any sale, and no doubt have their own forensic audit as part of any DD process.

Sales can and have happened in days. But there is a saying in negotiations that time is always working for someone- in this case both parties for different reasons may want a quick sale. Ron can’t afford, let alone wants, to keep putting money in. If the new buyer isn’t on board in the next few short weeks next seasons chance of getting out of this league will be jeopardised…

That's about the sum of it and that's without any further "complications" that may pop up very soon...

 

[Medway Blue]

I’d expect it to take 4-5 months (total guess by the way) minimum

I'm gonna put my neck on the line and suggest that, imo, if it takes anywhere near that long then the club will be put into administration before then.

 

[Medway Blue]

I’m quite sure that there will not be a announcement tomorrow… wish there was tho

You never know with this club.....wouldn't be about what we want it to be about though, I'm sure.

 

[Yorkshire Blue]

This takeover process is going to test the patience of us all. I believe it could be a number of weeks yet before any deal gets over the line.
I'm told Nash and his team have already held 4 meetings with General Sports Worldwide. The last of those was last month.
The DD process needed to fully unravel the mess that Ron's created must be a torturous one.

As I see it the most complicated bit is the stadium.

Negotiations over the club should be relatively straightforward as far as acquisitions go. There’s the question of what debt the purchaser will be taking on but that’s a matter for commercial negotiation. There’s detail to check but nothing out of the ordinary.

The stadium though is a nightmare. It’s like buying a house except the house isn’t built yet. The purchaser is going to want to have their say over the house and it all needs to be negotiated and documented and lenders satisfied. This is what will take time. I worry that it won’t be before the NL AGM. That seems a hugely optimistic timeline.

I expect the sale of the club to be all but arranged before the ground is sorted but for the while deal to be held up by the stadium. It’s why Ron planned on hanging onto the club until we were in the new stadium but his money ran out and his family forced him to sell. Maybe some deal can be lined up where the buyers loan Ron/the club money that will be deducted from the sale price. We may therefore end up with some sort of combination of new directors/CEO/CFO before we get a finalised deal.

 

[Leeboy]

It would be fabulous if this thread could just be about the prospective sale rather than 'jokes' about onions, burgers and Ron's cleaning lady which are all about as funny as AIDS.

happy guy