SUFC: The Future SUFC up for sale

[Hadleigh-shrimper]

Gotta be there for something

Prob to report on wages

 

[M_Simps]

Gotta be there for something

Watching grass grow?

 

[THE SEVENTIES NORTH BANK]

It was always going to take time, and of course the worry is that either side could pull out at the last moment. Lawyers from both sides will be going back and forth, which alone makes things very slow. I bet getting the true and full financial picture has been difficult for the buyers. We just have to be patient and pray to the football Gods.

 

[Tydd st giles]

First post so don’t shoot me….

Club went up for sale or to invite investment middle of March…we are now 3 months on and are close to having new owners….that for me is rapid progress considering everything that is involved.

The silence from our dear chairman is nothing new, and to be honest all most of us want to hear is that he has packed his belongings into a card box and making his exit out the car park.

I expect that new owners will be in place by end of this month latest, but there may be some wriggle room on that.


All in all we should have a bright and sustainable future which is something that has been absent in years.

 

[AlfaShrimper]

For everyone panicking... These are the guys doing the pitch work.. it's not our own staff is a proper company.. if that doesn't tell you everything you need to know I don't know what will.. (Ron would not be paying for this)

 

[Massimo Giovanni]

Okay, @Tydd st giles you get a B+ mark for post #6,624
Don't let your standards slip.
No shots fired.

 

[GBJ]

For everyone panicking... These are the guys doing the pitch work.. it's not our own staff is a proper company.. if that doesn't tell you everything you need to know I don't know what will.. (Ron would not be paying for this)

What does it tell you?

Someone’s paying it, but it’s not Kimura and nor were they behind the supposed new club website.

 

[Hadleigh-shrimper]

What does it tell you?

Someone’s paying it, but it’s not Kimura and nor were they behind the supposed new club website.

How you know? Who was then?

 

[GBJ]

How you know? Who was then?

You think they’re paying for the pitch to be relaid, when they haven’t even been granted exclusivity to close the deal?

Again, I have no idea who is footing the bill.

 

[tallboyblue]

You think they’re paying for the pitch to be relaid, when they haven’t even been granted exclusivity to close the deal?

Again, I have no idea who is footing the bill.

Not only that they are completing patchwork repairs to the car park.

 

[Tampa Blue]

My worry is that the prospective buyers get so fed up dealing with RM that they just walk.

Couldn’t really blame them if they did

 

[Booma]

You think they’re paying for the pitch to be relaid, when they haven’t even been granted exclusivity to close the deal?

Again, I have no idea who is footing the bill.

I thought I read that they’ve been granted a period of exclusivity and are undertaking their DD. As you say no idea why they would stump up any cash before actually agreeing a deal

 

[Ian Benjamin]

What does it tell you?

Someone’s paying it, but it’s not Kimura and nor were they behind the supposed new club website.

If the sale takes weeks - there wouldn’t have been time for the new owners to get the pitch relaid - so it is most likely being paid for by the club (on the request of the potential new owners)

 

[Jack_23]

You think they’re paying for the pitch to be relaid, when they haven’t even been granted exclusivity to close the deal?

Again, I have no idea who is footing the bill.

Pretty sure Chris Phillips reported that they have been granted exclusivity?

 

[shrimper61]

You think they’re paying for the pitch to be relaid, when they haven’t even been granted exclusivity to close the deal?

Again, I have no idea who is footing the bill.

Here you go all explained for you.

we strip and relay the pitch every year - it's paid for by the 'hire the pitch' thing they do every May where you hire a morning / afternoon / evening slot whereby anyone can play on it.
My Sunday team did it last year - cost about £1200 for a 3 hour afternoon slot. Rhys asked me if we wanted to do it again this year.
That is what pays for the ripping up and relaying the pitch.
The pitch hire only finished on 31st May but yes seems a bit later this year.

 

[GBJ]

I thought I read that they’ve been granted a period of exclusivity and are undertaking their DD.

Pretty sure Chris Phillips reported that they have been granted exclusivity?

Yes, they are currently carrying out their DD, but as of this morning, I believe Chris may be wrong with his reporting and that no period of exclusivity has actually been granted officially.

If the sale takes weeks - there wouldn’t have been time for the new owners to get the pitch relaid - so it is most likely being paid for by the club (on the request of the potential new owners)

Yep, that’s what I’m hoping the situation is, although I’m not overly sure.

 

[GNH]

It wouldn't surprise me if Uncle Ron is paying for these things to be actioned (for once in his tenure)

As part of the DD a list of shortcomings will be identified that either need to be addressed by the current owner or the price of sale is reduced to offset the defects. This price reduction will usually be more than the cost of getting it done before the sale, as it takes into account the need for the new owners to have to go through the process of getting contactors sorted etc in their own time and at their expense.

Much easier to fix the issues and sell at a higher price which is what most home owners do when selling a property.

I see all this progress as a good sign of prospective good news.

 

[GBJ]

Here you go all explained for you.

what’s the cost of a pitch to be relaid? £50k? £100k?

We must have sold plenty of slots in May.

 

[Callum]

I have a feeling this will run smooth

 

[Tommy2holes]

I am a little confused now.

We were told by those ITK and via various tweets by Kimura directors suggested "handshake" emoji that a deal had been agreed, subject to DD.

Was also led to believe that as part of that agreement, an exclusivity had been out in place in order to make the final closure of said deal.

Now we are hearing that they may not be an exclusivity and that various other parties may be a lot closer to tying up a deal then Kumira.

We also see work going on at the stadium ie pitch and car park renovation, both of which are unlikely to be funded by Ron.

All of the above appears to be causing meltdown.

Have i missed anything or is that about the size of it?