SUFC: The Future SUFC up for sale

[gatecrasher]

Ron gambled and lost, in fact hes exhausted every avenue he had open to him as he was so sure that ball would bounce into his number one day - it hasn't. He has a choice, he goes down with the ship or accept the offer of a floating bit of wood to survive on. It won't be as comfortable as the luxury liner he would of expected to own one day but it will be something which is better than nothing.

He can't afford to build FF but he owns the potential for someone to take on the club and therein lies the value. I feel if he done this when he got planning the second time he could of called the tune and got a decent price, now he'd be lucky to get a million or two for it all, club, training ground and Fantasy Farm land.

 

[Cool runnings]

A few of you replied to my comments and rather than reply to each of them I'll just make the one post with a genuine question that I've asked a few times but never really got a reply too.

What is Ron actually selling? As far as I can see or as far as I know we're only selling the club name, a few players contracts and the staff who haven't left already. Other than that I don't know what a potential buyer would actually be buying.

Time will tell. I don’t see a sale this year

 

[Supershrimper]

Sounds familiar, not just a similar sounding nickname it seems...

Club update from the Board

Following the conclusion of the 2022/23 season, we can provide the below update from the Board:

www.morecambefc.com

8 months up for sale and to quote "we remain in a state of uncertainty as to when a sale is going to be completed"

Hopefully the lure of a southern club with a London airport is an attractive option for those rich Americans and Canadians who may be interested

 

[shrimpled]

But I'm sure he said somewhere that even if he sells today he'll still be in charge of the stadium build. Why would a buyer want him anywhere near the build?

They wouldn't.

That's why it's for sale. And probably the biggest hurdle, (and Ron's strongest hand) in any discussions (I am not in the know of those, but it's an obvious issue).

 

[flangejackrabbit]

8 months up for sale and to quote "we remain in a state of uncertainty as to when a sale is going to be completed"

Hopefully the lure of a southern club with a London airport is an attractive option for those rich Americans and Canadians who may be interested

A very unlikely character is trying to buy it (Morecambe) up with some investigation suggesting there could be suspicions of money laundering.

 

[Murkey_Mouse]

I think Martin is open to selling but more than likely wants a unrealistic amount and we are stuck in limbo

He could end up with nothing in 24 hours time!! So he had no choice at all!

 

[Murkey_Mouse]

They wouldn't.

That's why it's for sale. And probably the biggest hurdle, (and Ron's strongest hand) in any discussions (I am not in the know of those, but it's an obvious issue).

With tomorrow looming, his hands will be far weaker.

 

[tia]

He could end up with nothing in 24 hours time!! So he had no choice at all!

That's possibly true but also who's to say that if club goes bust he wipes debt he owes out and still has opportunity to develop or sell Roots Hall and Fossetts for housing.The Council may let him as there is a big need for more housing

 

[Shrimper]

A very unlikely character is trying to buy it (Morecambe) up with some investigation suggesting there could be suspicions of money laundering.

The guy trying to buy them is dodgy as ****

 

[Yorkshire Blue]

He's not giving up a big chunk of the pie, he's getting rid of the bit that is costing him money.

This.

Ron is selling his shares in South Eastern Leisure, which owns ~70% of Southend United Football Club.

Also available, should a buyer be interested (and they should and will be), are his shares in Roots Hall Limited (the Owner of Roots Hall) and his shares in companies associated with the developments at Fossetts Farm, including the proposed new stadium.

Shares in SEL, yes.

Shares in RHL and development companies, Im not so sure. I don’t think anything is necessarily off the table but I think the idea is to sell the new ground once built to the new owner.

I’d be very wary of being purchased by someone who was more interested in the bigger development (and yes, beggars can’t be choosers but it would be out of the frying pan and into the fire).

But I'm sure he said somewhere that even if he sells today he'll still be in charge of the stadium build. Why would a buyer want him anywhere near the build?

Why would a buyer want to have to deal with the build themselves?

They (hopefully) won’t be experts at property development. Hopefully their expertise is at rebuilding a community club. They’ll look to hand the property development side off to someone else so why not Ron? What has held Ron back from building anything is a shortage of cash and they’re about to give him a big wad of cash which removes the main obstacle.

That is also my understanding. He also mentioned he would be happy to have a discussion regards partnering in the development of the Main (North) Stand at FF. But as it's all unbuilt, it all seems a bit wishy washy to me.

I cannot see Ron giving up a slice of the RH land, which was once touted as one of the most valuable pieces of land in the SE.

The fewer redlines the easier it is to come to an agreement. Wishy washy is good here, it equals flexibility.

Deals for unbuilt stuff happen all the time. It takes time but is totally doable.

 

[stewart]

I wonder ,would a company with a respectable reputation even consider taking on the contract to sell SUFC etc if they believed RM was asking for some outlandish price for it all, Seems to me they would be risking there reputation also wasting a lot of time and energy, especially if they only get paid if they make the sale .

 

[Murkey_Mouse]

That's possibly true but also who's to say that if club goes bust he wipes debt he owes out and still has opportunity to develop or sell Roots Hall and Fossetts for housing.The Council may let him as there is a big need for more housing

Council wouldn’t have that, as they wouldn’t want to see a City without a football club.

 

[kentblues]

How much money is he going to make from the housing? He and his company aren't developing it and building it. He only owns the land. Nobody really knows for sure but it seems to me like he'll make money from selling the land with planning permission to the property developers just before a particular phase starts. He may well have a clause in a contract with the developers that he gets a cut of future profits though I guess.

Either way, I don't think any deal can be ruled out. Club only is by far the least likely, I would think. But I understand Ron's in a bit of a hole and needs money quickly, so I wouldn't rule out part of the wider development being included in a deal.

The development is a partnership between SUFC (the enabling development), Citizen Housing LLP and SCC. Citizen Housing LLP is the developer and that is effectively a joint venture between companies owned by the billionaire Dellals and Jack Martin. So Ron via Son of Ron very much does have an ongoing interest in the development.

There are some who make statements along the lines of who’s going to build anything for Ron, what’s he ever built and so on- those posts normally ignore the Dellals as that would sink the argument. So they pretend they don’t exist.

Citizen Housing LLP

Website coming soon

www.citizenhousing.co.uk

 

[tia]

Council wouldn’t have that, as they wouldn’t want to see a City without a football club.

Hopefully you are correct and we all hope this isn't put to the test but if worst comes to worst don't underestimate the need for houses

 

[hlane17]

Council wouldn’t have that, as they wouldn’t want to see a City without a football club.

My impression has been that the demise of SUFC wouldn't stop the housing being built.

 

[mattytheshrimper]

Why would a buyer want to have to deal with the build themselves?

Right back at you, why would a buyer want a total failure of a business man and property developer in charge of such a huge build.

 

[AustScullyPriorPowell]

So, page 145 of speculation, rumours and hearsay

I can definitely, see us hitting 1000+ pages on this thread by the time we maybe get a new owner!!

I can’t wait to see the back of this thread though! I’m looking multiple times a day just in case!!!!….

 

[kentblues]

Right back at you, why would a buyer want a total failure of a business man and property developer in charge of such a huge build.

The developer is Citizen Housing LLB and is 50% owned by the billionaire Dellals. This is often overlooked..

 

[superblue24]

Can someone more experienced than me explain why our club is an attractive proposition when we do not have any land and we’re saddled with debt? Genuine answers only please

 

[Spaceman Spiff]

We aren’t attractive at all anymore.

Speak for yourself