SUFC: The Future SUFC up for sale

[JAL]

We aren’t attractive at all anymore. We would’ve been 5/6 years ago when we were competitive in league one.

What made Yeovil attractive to buy?

You don't really need to be attractive to be bought, football clubs will always have buyers.

Edit: Before anyone says Bury, Mansfield, etc, they both had buyers, just none could get them over the line before they were dead.

 

[overseas shrimper]

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

You really believe this, don't you.

 

[Medway Blue]

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

I don't think anybody here could give you an answer with anything other than conjecture. Only those involved in the process will be able to answer. Only genuine answer I could really give is that I genuinely don't think the process would have gotten as far as it has if those interested in buying thought in the same way that you do and, with respect, they'll have more experience of situations like this and more knowledge of this particular situation then you and I, so I defer to their better-informed judgement.

 

[Tangled up in Blue]

You really believe this, don't you.

There is the not insignificant matter of the covenant on RH of course.

 

[JD]

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

Nailed on for successive relegations reading that.
1) Being asked to run a footy club at break even is tough.
2) Wider issue - they have just 6 contracted players for next season.

 

[Lincoln Shrimp]

 

[Mad Cyril]

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

Think of it like a non fungible token.

 

[Yer Blues]

View attachment 26354

Odd that shrimpers talk weren't aware the winding up order and the sale nda are 2 separate things. I thought that was obvious.

Just bare in mind, this 4pm meeting doesn't tally with the unconfirmed sighting leaving Fenchurch at 6.

I think, whist it's inexcusable that the club haven't communicated anything regarding the latest winding up order, I'm relatively confident that this means a sale is further along the line than we think.

Trying to think like Ron does, he probably thought that the sale could have gone through before tomorrow making a statement acknowledging it redundant (though we know ot would have just been courteous and on a basic level, good practise to keep an alienated fan base in the loop)

Of course, we shouldn't have 18 winding up orders in 25 years, but he hasn't lost one yet, and I can't see him not pulling one last rabbit from his hat this close to the project really starting.

I think we'll be OK.

 

[Thor1]

View attachment 26354

Hopefully indications of something is happening will become apparent tomorrow. I doubt there will be any futher clues as to potential buyers until any agreements/sales have been completed.

 

[WestyReturns]

Odd that shrimpers talk weren't aware the winding up order and the sale nda are 2 separate things. I thought that was obvious.

Just bare in mind, this 4pm meeting doesn't tally with the unconfirmed sighting leaving Fenchurch at 6.

I think, whist it's inexcusable that the club haven't communicated anything regarding the latest winding up order, I'm relatively confident that this means a sale is further along the line than we think.

Trying to think like Ron does, he probably thought that the sale could have gone through before tomorrow making a statement acknowledging it redundant (though we know ot would have just been courteous and on a basic level, good practise to keep an alienated fan base in the loop)

Of course, we shouldn't have 18 winding up orders in 25 years, but he hasn't lost one yet, and I can't see him not pulling one last rabbit from his hat this close to the project really starting.

I think we'll be OK.

He's lost every single one....he has had to pay a lot lot more than if he had paid on time.

The winding up orders are from parties owed money who actually don't want to wind the club up. They just want the monies owed.

The only time Martin wins is when we do get wound up and doesn't pay money he owes (gets away with not paying)

 

[Yer Blues]

He's lost every single one....he has had to pay a lot lot more than if he had paid on time.

The winding up orders are from parties owed money who actually don't want to wind the club up. They just want the monies owed.

The only time Martin wins is when we do get wound up and doesn't pay money he owes (gets away with not paying)

Sadly, your argument doesn't hold water.



He's had 17 other opportunities to "win" as you put it, though he's come through eventually every time. So why bother paying at all?

He could have "won" 20 years ago. Let the club fold, build his housing estate and ridden off into the sunset.

For the avoidance of any doubt, I don't think he's a good guy for letting this continue to happen.

I do think we'd be foolish to bet against him tomorrow though.

 

[kentblues]

Odd that shrimpers talk weren't aware the winding up order and the sale nda are 2 separate things. I thought that was obvious.

Just bare in mind, this 4pm meeting doesn't tally with the unconfirmed sighting leaving Fenchurch at 6.

I think, whist it's inexcusable that the club haven't communicated anything regarding the latest winding up order, I'm relatively confident that this means a sale is further along the line than we think.

Trying to think like Ron does, he probably thought that the sale could have gone through before tomorrow making a statement acknowledging it redundant (though we know ot would have just been courteous and on a basic level, good practise to keep an alienated fan base in the loop)

Of course, we shouldn't have 18 winding up orders in 25 years, but he hasn't lost one yet, and I can't see him not pulling one last rabbit from his hat this close to the project really starting.

I think we'll be OK.

Note I believe it’s not possible to complete the sale of the club whilst subject to a winding up order. I believe a sale would be subject to court approval. Protects the clubs creditors. More likely if he can present the sales as very close or agreed in principle it makes a short adjournment pretty much a formality….

 

[bazzashrimper]

The winding up orders are from parties owed money who actually don't want to wind the club up. They just want the monies owed.

Rubbish. Everyone knows HMRC really stands for His Majesty Reveres Colchester. The money is a disguise

 

[Yer Blues]

Note I believe it’s not possible to complete the sale of the club whilst subject to a winding up order. I believe a sale would be subject to court approval. Protects the clubs creditors. More likely if he can present the sales as very close or agreed in principle it makes a short adjournment pretty much a formality….

Yeah fair enough. More than happy to be corrected.So perhaps in this instance, the nda is a plausible reason not to have communicated about the winding up order?

Genuinely delighted to be enlightened. This is what it's all about. Fans sharing their knowledge

Cheers

 

[JAL]

Note I believe it’s not possible to complete the sale of the club whilst subject to a winding up order. I believe a sale would be subject to court approval. Protects the clubs creditors. More likely if he can present the sales as very close or agreed in principle it makes a short adjournment pretty much a formality….

Pretty sure Scunthorpe United were bought while under a winding up petition, remember their new owner tweeting the HMRC debt had been paid and the embargo lifted when it happened.

Edit: Link for a story in relation - https://www.bbc.co.uk/sport/football/64456147

 

[Murkey_Mouse]

You really believe this, don't you.

I do, my friend is part of the council, they won’t let anyone put flats on Root Hall, until the club move to FF stadium.

 

[danbowen]

Just dreaming but imagine something got announced before the court case tomorrow

 

[kentblues]

Pretty sure Scunthorpe United were bought while under a winding up petition, remember their new owner tweeting the HMRC debt had been paid and the embargo lifted when it happened.

Edit: Link for a story in relation - https://www.bbc.co.uk/sport/football/64456147

You can but with approval of the court. So the winding up order I think needs to addressed for any sale to proceed. So probably deal was agreed, buyer agreed to settle/settled HMRC debt and court approved sale/dismissed petition. I think that’s how it works.

Edit: Scunthorpe owner settled with HMRC within 48 hours after the takeover, so it’s maybe (as with sale of assets) the court has the power to reverse the transaction (rather than needing to approve prior) if not in the interests of (all) creditors. If HMRC is paid and withdraw the court still needs to dismiss and other creditors can still object.

As always someone might know different.

 

[WestyReturns]

Sadly, your argument doesn't hold water.



He's had 17 other opportunities to "win" as you put it, though he's come through eventually every time. So why bother paying at all?

He could have "won" 20 years ago. Let the club fold, build his housing estate and ridden off into the sunset.

For the avoidance of any doubt, I don't think he's a good guy for letting this continue to happen.

I do think we'd be foolish to bet against him tomorrow though.

When you win a bet you gain money. When you lose they gain money. Ron has been losing money for years against HMRC paying more than he should have to. There's nothing to argue about unless your reclassifying winning!

HMRC tonked him to the tune of £2m last time. You call that 'winning'?

 

[Yer Blues]

When you win a bet you gain money. When you lose they gain money. Ron has been losing money for years against HMRC paying more than he should have to. There's nothing to argue about unless your reclassifying winning!

Didn't think I'd have to spell this out.

We still have a football club.