SUFC: The Future SUFC up for sale

[Jai]

Interesting listening to Matt Slater on BBC Essex this morning, he's in touch with the takeover group. Reckons it will be done next week, but that's him estimating rather than knowing.

Sounds like it is 95% there and that should be enough to persuade the NL to hang on for a period of time and I suspect that will form the basis of Monday's case.

 

[londonblue]

That's not quite right is it? Aren't we expecting a letter from the NL extending TODAYs deadline for HMRC payment. When the deadline is extended to we don't know

And that letter, with its new deadline will give us an idea of when we can expect a deal to go through because I would expect the new deadline will have been set based on the progression of the sale, and would have been discussed with the club.

 

[Medway Blue]

I reckon that post that got everyone excited yesterday could be that they were granted exclusivity and were able to finally start moving forward. I think a sale is gonna need at least a week before we get a completion.

This is how I have read the situation. The true DD wouldn't have begun until yesterday, because the start of a period of exclusivity to close the deal and the opening of the books wouldn't have happened until the bid had been accepted.

There won't be too much more left to do, I think it's much of the way there due to what was covered in negotiations, but they'll have their own accountant to go through everything with a fine tooth comb. Maybe there will be a surprise or two in there for them but I don't think they're expecting it to be anything that will derail.

What we might have gotten this week was an announcement that a bid had been provisionally accepted but I don't even think we'll get that now. It wouldn't come from the club, I wouldn't think, and I think Kimura want to navigate some of the DD before they fully break cover.

Next week is possible though.

 

[BoyWonder2]

This is how I have read the situation. The true DD wouldn't have begun until yesterday, because the start of a period of exclusivity to close the deal and the opening of the books wouldn't have happened until the bid had been accepted.

There won't be too much more left to do, I think it's much of the way there due to what was covered in negotiations, but they'll have their own accountant to go through everything with a fine tooth comb. Maybe there will be a surprise or two in there for them but I don't think they're expecting it to be anything that will derail.

What we might have gotten this week was an announcement that a bid had been provisionally accepted but I don't even think we'll get that now. It wouldn't come from the club, I wouldn't think, and I think Kimura want to navigate some of the DD before they fully break cover.

Next week is possible though.

Next week is a real possibility from what I’m hearing.

If I was a betting man, my 10p would be on the tail end of the week, so the beers and champagne should be very chilled and ready to go by then.

 

[BoyWonder2]

Interesting listening to Matt Slater on BBC Essex this morning, he's in touch with the takeover group. Reckons it will be done next week, but that's him estimating rather than knowing.

Sounds like it is 95% there and that should be enough to persuade the NL to hang on for a period of time and I suspect that will form the basis of Monday's case.

Was a good listen that.

Also, the new group are looking at revisiting going back to 22k for FF with the hotel too.

 

[Medway Blue]

Next week is a real possibility from what I’m hearing.

If I was a betting man, my 10p would be on the tail end of the week, so the beers and champagne should be very chilled and ready to go by then.

Same. Chance it might stretch into the following week, but everybody involved knows how important it is to get it done quickly. I said before that being thorough doesn't necessitate taking ages.

 

[Medway Blue]

Was a good listen that.

Also, the new group are looking at revisiting going back to 22k for FF with the hotel too.

I'd be interested to know how likely that is and whether they've contacted the council yet. As I understand it, the council are (or were, pre-election) of the opinion that the older 22k plans were no longer as viable.

 

[Leeboy]

what about the retained list? Thought that was supposed to be yesterday as per NL rules? (Or am I getting it wrong?)

 

[JAL]

Was a good listen that.

Also, the new group are looking at revisiting going back to 22k for FF with the hotel too.

Since those plans have already been proposed and has planning permissions, not an awful shout on their end, they probably just want to get it done.

 

[BoyWonder2]

I'd be interested to know how likely that is and whether they've contacted the council yet. As I understand it, the council are (or were, pre-election) of the opinion that the older 22k plans were no longer as viable.

No idea how likely it is to be honest.

Was mentioned as part of the BBC Interview with Matt Slater.

 

[hlane17]

I'd be interested to know how likely that is and whether they've contacted the council yet. As I understand it, the council are (or were, pre-election) of the opinion that the older 22k plans were no longer as viable.

The council cannot pull previously granted planning permission without risking a planning appeal and all the costs/time that comes with that. After which, they will most likely lose.

Pushing on with the previously approved plans would be smart. A bigger ground is more tickets sold to big events out of season, e.g. concerts, boxing, etc.

 

[Smiffy]

BBC Essex - Sonia Watson, Southend United sale and favourite fish 02/06/2023

Speculation is reaching fever point when it comes to the takeover of Southend United.

www.bbc.co.uk

From 2:05. Matt speaks brilliantly. We are so lucky to have a top journalist like him as a fan. Some real cause for optimism. Things hopefully on the up for our club. Deal hopefully done next week. Original stadium plans (22k) maybe revisited.

 

[BriggBlue]

what about the retained list? Thought that was supposed to be yesterday as per NL rules? (Or am I getting it wrong?)

Doesn't that list need to go to the national league with no requirement to publish it?

There is nothing to stop us offering new contracts the players just can't be registered

 

[Medway Blue]

No idea how likely it is to be honest.

Was mentioned as part of the BBC Interview with Matt Slater.

I'd definitely prefer it though. More future proofing. I still think a hotel on site is a good idea, especially with these guys involved because I'm sure they'll come up with all sorts of great conventions and what not to hold at the club.

Off topic slightly, but I had heard that another chain had approached RM about filling the hotel space after Hilton pulled out, but RM sacked off the idea and pushed the narrative that it was no longer viable.

 

[Petejames]

Doesn't that list need to go to the national league with no requirement to publish it?

There is nothing to stop us offering new contracts the players just can't be registered

Surly you would need to know your budget tk offer deals? We won’t know that yet? Or will we?

 

[kentblues]

Was a good listen that.

Also, the new group are looking at revisiting going back to 22k for FF with the hotel too.

Said all along that if I was the buyer, or indeed any new owner with the financial means, would look at this and the planning is already in place. To me the revision was about cost cutting in the short/medium term not the best long term solution- both in terms of future proofing on the capacity side but also maximising commercial earning potential. Especially given what Kimura Performance do.

Would require Populos to reprice there original bid which shouldn't take long.

 

[hlane17]

Off topic slightly, but I had heard that another chain had approached RM about filling the hotel space after Hilton pulled out, but RM sacked off the idea and pushed the narrative that it was no longer viable.

Would not surprise me. My line of thinking was that any hotel chain would be silly to ignore the opportunity, even if one pulled out someone would take it on.

Hotel right next to a football ground, just out of town from a popular seaside destination, and close to an international airport. Sounds good to me.

 

[Massimo Giovanni]

Doesn't that list need to go to the national league with no requirement to publish it?

There is nothing to stop us offering new contracts the players just can't be registered

No need to publish but for sure players and agents of those released etc would know and share. As individuals or squad listing.

Agree, we can sign anyone willing and wanted AND register asap.

 

[kentblues]

I'd definitely prefer it though. More future proofing. I still think a hotel on site is a good idea, especially with these guys involved because I'm sure they'll come up with all sorts of great conventions and what not to hold at the club.

Off topic slightly, but I had heard that another chain had approached RM about filling the hotel space after Hilton pulled out, but RM sacked off the idea and pushed the narrative that it was no longer viable.

Just posted pretty much the same. Yes I think it was RM's excuse to cut costs. I heard it was a budget chain? Guessing Kimura would bring their own people to manage it.

 

[kentblues]

No need to publish but for sure players and agents of those released etc would know and share. As individuals or squad listing.

Agree, we can sign anyone willing and wanted AND register asap.

Not sure re a hard deadline but every chance we would get a short extension so we can submit a "final" list. Else it will be "contract extension to be triggered subject to embargo being lifted", "new contract extension to be offered subject to embargo being lifted" etc.
Embarrassing all round and if the takeover is close better all round to wait until the embargo is lifted.

I'm sure in the background "informal discussions" have taken place with the players/agents...