SUFC: The Future SUFC up for sale

[Spaceman Spiff]

It looks like these were the right guys to negotiate with Ron:

 

[Medway Blue]

Surely closer to being done completely, no? A post like his is surely too far in terms of teasing fans if it’s still some way off being done

I might be naive but I read this differently. Why would you post this online if you are still miles away from closing a deal?
I’m hoping this means it’s a sealed deal….

Could be any reason. He'd probably have been excitable. Also, his IG account is private, so only people he's accepted can see the post. Whilst he has a couple of SUFC fans following him (he accepted my follow the other day), I doubt the possibility of them seeing it was at the forefront of his mind when he posted it.

I'm just being realistic and trying to manage expectations. DD needs to be done. If their offer has now been accepted, as I suspect, a period of exclusivity for them to close the deal will begin and the club will open the books to Kimura's accountants for everything to be gone through with a fine tooth comb.

I'm not saying it'll take ages. Shouldn't do as discussions up until now will have been pretty in depth so there *shouldn't* be any major surprises (although never rule it out with RM). Plus everybody on both sides knows that it can't really take ages anyway due to the various time pressures and deadlines.

Similarly, Kimura will undoubtedly be fidgety and nervous about the idea of rushing it.

With that being said - and I say this with the caveat that I have no real experience of these situations - when expediting the final steps, doing things carefully can be the difference rather than the amount of time spent doing them. Thoroughness doesn't have to be slow, and vice versa.

 

[shrimperjon]

Could be any reason. He'd probably have been excitable. Also, his IG account is private, so only people he's accepted can see the post. Whilst he has a couple of SUFC fans following him (he accepted my follow the other day), I doubt the possibility of them seeing it was at the forefront of his mind when he posted it.

I'm just being realistic and trying to manage expectations. DD needs to be done. If their offer has now been accepted, as I suspect, a period of exclusivity for them to close the deal will begin and the club will open the books to Kimura's accountants for everything to be gone through with a fine tooth comb.

I'm not saying it'll take ages. Shouldn't do as discussions up until now will have been pretty in depth so there *shouldn't* be any major surprises (although never rule it out with RM). Plus everybody knows that it can't really take ages anyway due to the various time pressures and deadlines.

Similarly, Kimura will undoubtedly be fidgety and nervous about the idea of rushing it.

With that being said, and say this with the caveat that I have no real experience of these situations, when expediting the final steps, doing things carefully can be the difference rather than the amount of time spent doing them. Thoroughness doesn't have to be slow, and vice versa.

dont think its private, or isnt now. I went straight on it, followed him and found the post straight away

 

[Shrimper Brownie]

Yeah, he is no longer private.

 

[Mr Browns Ghost]

Simon Jackson (CFO of Kimura) has just tweeted a photo of the club crest btw. Hopefully, this can be done sooner rather than later and we can move on from this madness.

You’re missing the line from him underneath ‘let’s do this’

 

[Tampa Blue]

I have been told that filming of a documentary has already started so that's a positive sign

 

[hlane17]

Only at Southend can you go to bed feeling miserable and wake up in the morning to stuff like this.

I think we'll be surprised with the speed it will take to close a sale. Solicitors often have templates/precedent when it comes to contracts. Some clauses are standard practice in all contracts and will not require amendment, so if we have an agreed deal it would probably come down to the finer details/wording or additional clauses. You would be surprised how quickly solicitors can close a deal when parties want it to happen, let alone need it to happen.

I don't want to place a definite timeframe on it but contracts would not take as long as some think IMO. We closed some big ones in my previous job in a matter of a week or two.

As for the accounting, I'm not an accountant and have never worked closely with accountants, but surely they could undertake a fast yet thorough review of accounts?

 

[Morty01]

I have been told that filming of a documentary has already started so that's a positive sign

Could it be the documentary that we heard nothing of?

 

[Paulie Walnuts]

You’re missing the line from him underneath ‘let’s do this’

You'll be missing your teeth if you carry on with this horseplay son.

 

[gpd]

I like a bit of positivity on a Thursday morning :-) Could we be on the verge of new ownership?

 

[Holy Joe]

Only at Southend can you go to bed feeling miserable and wake up in the morning to stuff like this.

I think we'll be surprised with the speed it will take to close a sale. Solicitors often have templates/precedent when it comes to contracts. Some clauses are standard practice in all contracts and will not require amendment, so if we have an agreed deal it would probably come down to the finer details/wording or additional clauses. You would be surprised how quickly solicitors can close a deal when parties want it to happen, let alone need it to happen.

As for the accounting, I'm not an accountant and have never worked closely with accountants, but surely they could undertake a fast yet thorough review of accounts?

Apologies to any lawyers on here, but in my experience, the point when they get involved is when everything slows down! I know they have a job to do, and an essential one at that, but sometimes they need a shove to think about the practical aspects. I've often have had to manoeuvre over 'unacceptable' clauses that in practice either didn't apply or were never going to happen

 

[hlane17]

Apologies to any lawyers on here, but in my experience, the point when they get involved is when everything slows down! I know they have a job to do, and an essential one at that, but sometimes they need to shove to think about the practical aspects. I've often have had to manoeuvre over 'unacceptable' clauses that in practice either didn't apply or were never going to happen

I think in the case of a big public sale like this, they will be on their best behaviour

But you're right, sometimes delays can happen for no reason, or stupid clauses can get thrown in.

 

[Spaceman Spiff]

Only at Southend can you go to bed feeling miserable and wake up in the morning to stuff like this.

I think we'll be surprised with the speed it will take to close a sale. Solicitors often have templates/precedent when it comes to contracts. Some clauses are standard practice in all contracts and will not require amendment, so if we have an agreed deal it would probably come down to the finer details/wording or additional clauses. You would be surprised how quickly solicitors can close a deal when parties want it to happen, let alone need it to happen.

I don't want to place a definite timeframe on it but contracts would not take as long as some think IMO. We closed some big ones in my previous job in a matter of a week or two.

As for the accounting, I'm not an accountant and have never worked closely with accountants, but surely they could undertake a fast yet thorough review of accounts?

Agreed. You can also prepare a lot of draft paperwork in advance, and have resources (accountants, auditors etc) lined up ready for action once the green light comes. All sorts can be done, and more if both sides want to expedite quickly.

Let’s see. My money isn’t on a sale being announced today, but I do think it will be in the early part of next week (no specific intel on that, just a feeling).

 

[kentblues]

In terms of how long this will take at one level we have to remember the club is a small business with a £4m turnover. I’ve seen acquisitions of companies that size happen in days. That said there are additional potential layers of complexity around FF. Depends how that is being addressed at this stage. But getting hopeful this will be done by July 1st latest.

Which will probably allow just enough time to get dressed for next season. Particularly if now there can be some sort of steer to the management team on playing budgets- I am sure in the background the recruitment process was reflecting different scenarios anyway.

Feeling positive- let’s hope we don’t snatch defeat from the jaws of victory

 

[Spaceman Spiff]

Apologies to any lawyers on here, but in my experience, the point when they get involved is when everything slows down! I know they have a job to do, and an essential one at that, but sometimes they need a shove to think about the practical aspects. I've often have had to manoeuvre over 'unacceptable' clauses that in practice either didn't apply or were never going to happen

You can imagine the horror at Ron’s lawyers, that the completion of this sale could kill their cash cow!

 

[Shrimpergonzo]

Sounds like the ex Southend High School for Boys pupil is coming home! Good luck everyone I hope it works out for you.

Oh, are we signing Old Southendian Noah Chilvers from you guys as well then? ;-)

 

[Colchester and proud!]

Oh, are we signing Old Southendian Noah Chilvers from you guys as well then? ;-)

Yours for a £million, we can't say fairer than that.

 

[Smiffy]

Yours for a £million, we can't say fairer than that.

Pocket change to us now

 

[Blues4LifeDan]

Yours for a £million, we can't say fairer than that.

Surely a swap deal for Wes Fonguck will suffice. We'll even throw in his gloves for good measure.

 

[fredheim_holm]

Also see this post from a few weeks ago about looking forward to working with Ray Winstone and ISM:

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