SUFC: The Future SUFC up for sale

[meerkat54]

Well this worries me that we still won't be complete this time next month. Which, if the case, would be a disaster

Without an injection of cash before 12th July we will be nonexistent.
Just my personal opinion.

 

[bluesfansince1952]

Perhaps the deal will be quicker than we fear because the actual price is low - excluding the purchase of FF. Yes there are running costs and we will probably lose money year on year but how much can the club actually cost? They could / should be backing themselves to do a better job than Ron. As long as all the outstanding bills are paid (most likely deducted from the purchase price), the DD could be mainly around the property side.

'but how much can the club actually cost? They could / should be backing themselves to do a better job'

It might actually cost quite a lot. Much might depend on how much interest has to be paid as well the well documented problems concerning Roots Hall.

Interest will continue to be a factor, if, as many believe, money will be borrowed to finance the purchase.

If football is the priority of those buying there should be a great incentive to taking over the operation as soon as possible.

Even though I am one of these terrible people who has previously been accused (and perhaps convicted by some!) of being a 'Ron Lover' I would urge caution before buying anything from him, and, would suggest no DD can be too thorough in respect of this transaction.

Caution takes time.

 

[tommy tucker]

Yes you are correct cation takes time .But time is not on the clubs side .If players contacts are to be renued .Then the clock is ticking for contracts to renued by the likes of Bridge and a few more kevin wants to keep .

 

[Petejames]

Ok so the message I am getting is not to panic!! It will be ok … chill

 

[bluesfansince1952]

Yes you are correct cation takes time .But time is not on the clubs side .If players contacts are to be renued .Then the clock is ticking for contracts to renued by the likes of Bridge and a few more kevin wants to keep .

Agree fully.

And keeping KM, DC & MB also!

 

[Callumturner22]

But how comes it was announced that it was close and now it could still be a way away . Matt annoucned on radio it was about 95% done weather if that was true or not idk but I guess he’s usually quite reliable . I get the final bits can take time but anyone know the time frame ie 2 weeks or month onwards ?

 

[Jai]

But how comes it was announced that it was close and now it could still be a way away . Matt annoucned on radio it was about 95% done weather if that was true or not idk but I guess he’s usually quite reliable . I get the final bits can take time but anyone know the time frame ie 2 weeks or month onwards ?

Not even the people inside the deal will know the time frame. It will take as long as it takes. Lawyers involved, club will need to answer questions, how long is a piece of string?

 

[Petejames]

But how comes it was announced that it was close and now it could still be a way away . Matt annoucned on radio it was about 95% done weather if that was true or not idk but I guess he’s usually quite reliable . I get the final bits can take time but anyone know the time frame ie 2 weeks or month onwards ?

I asked that- the deal is done.. loose ends to tie up-time frame … don’t panic- was the response

 

[Shrimper]

Without an injection of cash before 12th July we will be nonexistent.
Just my personal opinion.

I would not be surprised if it isn't completed until the day before

 

[Andy_S]

So people, maybe correctly after all we’ve been through, will always be pessimistic and that seems to then rub off on many others. As mentioned by Jai, nobody truly knows how long the last bit will take because it’s the nitty gritty, but I’m incredibly confident that both sides want this completed ASAP.

 

[kentblues]

Not even the people inside the deal will know the time frame. It will take as long as it takes. Lawyers involved, club will need to answer questions, how long is a piece of string?

Those ITK can only share what they're told. Others with experience of company acquisitions what it could or should be if both parties are committed, based on their/knowledge experience- not what it will be. It does seem expectations are a little different dependent on what side of the transaction information is coming from. That might be down to no more than a greater level of relative urgency on one side or the other, or their relative tendency towards positive verses cautious expectation setting.

 

[Medway Blue]

Simon Jackson has got an army of people starting work on it this week. As I said, he wants it done as quickly as possible, as does Ron Martin, and there are also some milestones from the National League between now and 12th July that will need to be borne in mind. Of course 12th July is important, but it would be nice to get to 12th July with the club still a member of the National League.

Yes, things could be found which might delay things but nobody really knows what, if anything - only perhaps Ronald.

At the end of the day, the DD could be as long or as short as the buyer wants it to be. If they're willing to turn a blind eye to something, or are happy to not dig further on something, then that is their prerogative and will shorten the time it takes, but nobody can predict that.

 

[henry18]

I asked that- the deal is done.. loose ends to tie up-time frame … don’t panic- was the response

This is what I’m getting too

 

[TrevorFitzpatrickHattrick]

Morning all... No huge updates over the weekend for obvious reasons, but continue to hear that the deal is agreed and that the DD piece was underway before it was struck. The buyers want to get this over the line as soon as possible, but want to make sure it's done right. This is a good sign for the future running of the club. Patience chaps and chapesses, we're very close.

 

[Petejames]

Simon Jackson has got an army of people starting work on it this week. As I said, he wants it done as quickly as possible, as does Ron Martin, and there are also some milestones from the National League between now and 12th July that will need to be borne in mind. Of course 12th July is important, but it would be nice to get to 12th July with the club still a member of the National League.

Yes, things could be found which might delay things but nobody really knows what, if anything - only perhaps Ronald.

At the end of the day, the DD could be as long or as short as the buyer wants it to be. If they're willing to turn a blind eye to something, or are happy to not dig further on something, then that is their prerogative and will shorten the time it takes, but nobody can predict that.

I think maybe the buyer was expecting a announcement from the club that a bid was excepted… don’t get why they haven’t?

 

[Medway Blue]

I think maybe the buyer was expecting a announcement from the club that a bid was excepted… don’t get why they haven’t?

Indeed. Not sure how relevant it is but probably opens another can of worms if we start going around in circles wondering why. I guess only RM knows the answer to that one.

 

[ms brush]

But how comes it was announced that it was close and now it could still be a way away . Matt annoucned on radio it was about 95% done weather if that was true or not idk but I guess he’s usually quite reliable . I get the final bits can take time but anyone know the time frame ie 2 weeks or month onwards ?

Definitely know nothing beyond what I see on here and from a friend who has his ear to the ground and has called correctly so far. The only thing I can compare this with is when you buy a house. Until you exchange contracts you can be 95% done for a while but nothing moves forward or happens until there is confirmation that exchange has happened - at that point there is a legal commitment, but you dont own the property and you have no say over anything until completion takes place. That period between exchange and completion is nail biting, as there is no reason for it to go wrong, yet it can be delayed or not happen at all for no end of reasons!

With business sales the fundamentals are likely to be the same but the processes are different, so the drains up exercise will only start to happen now that a formal agreement has been reached. This should be relatively straightforward provided both parties have been honest about the skeletons, but who know how deep the bones are in this case?

 

[Tommy2holes]

Good thread by Carl here

https://twitter.com/x/status/1667922503954472960

Basically the point of DD, which is where we think Kimura now is, is that it is to look for problems

Informative, yes


Sour grapes, sounds that way.

We do not know how long Kumira have been working away on this.

They were apparently at a game before the season ended. It may well be that Ron was approached well before he officially announced that he would sell the club.

I would hazard a guess that a large majority of "DD" has already been done and an official announcement will be coming this week. Not in the know, but just seems to make sense to me.

 

[Leeboy]

Informative, yes


Sour grapes, sounds that way.

We do not know how long Kumira have been working away on this.

They were apparently at a game before the season ended. It may well be that Ron was approached well before he officially announced that he would sell the club.

I would hazard a guess that a large majority of "DD" has already been done and an official announcement will be coming this week. Not in the know, but just seems to make sense to me.

exactly my thoughts - a touch of sour grapes

 

[meerkat54]

Think when Kimura have done their DD they will take over. But I’m sure Ron will have buried some skeletons way out of sight of Kimura.
But I’m sure they will have made some allowances for this in the purchase price.
Anyhow let’s hope this is concluded very soon, as I’ve well had enough now.