SUFC: The Future SUFC up for sale

[Petejames]

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?

Ron’s playing games would be my guess

 

[Callum]

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?

I’m sure everything will be fine these things take time

 

[Leeboy]

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

We must have sold plenty of slots in May.

there were 3 slots a day - every day - in May including the 3 bank holidays (these days were a few hundred quid extra if I remember).
No idea how much it is to re-lay but that's what the groundsman told me.
Can't remember his name but he's been there years.

 

[BEERMONSTER]

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.

Agree here my old mate, he must have dipped into what was hidden under the mattress Also leans towards the view he is not the piper playing the tune anymore!

 

[kentblues]

Agree here my old mate, he must have dipped into what was hidden under the mattress Also leans towards the view he is not the piper playing the tune anymore!

There will, no doubt, be an expectation that the ground is handed over in an "acceptable" state. So no surprise some stuff is being done. The bits around FF and RH, and who pays for what and when in different scenarios, were always going to contentious you would imagine- the time to get excited I suppose is when the foxes are evicted from the South Stand and the renovation of the toilets starts... :-)

 

[E for B and Billy Best]

I woukdn't be surprised if there is a second group that Ron would rather sell to as they're "mates" or something

Or the one that is prepared to rent his 15,000 seat monstrosity surrounded by his flats. What's best for SUFC is not even on his list of priorities let alone at the top.

 

[Yer Blues]

What does it tell you?

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

Who are the possibilities?

Ron?
PG?
The Trust?
A. N. Other?

 

[Booma]

It may be that the interested parties have agreed that the takeover won’t be complete in time for certain works to be completed and ready (i.e. the pitch) so it’s being funded by the club and added to the sale price

 

[kentblues]

Ron’s playing games would be my guess

You don't say......he will be playing the fictional second bidder card (or even encouraging talk of a three course race....). Why? Squeeze a late concession or two, to encourage a few areas to be glossed over in the DD as "not really material anyway", get some more favourable terms agreed particularly re RH and FF and who pays for what, to get this closed quickly.... some or all, take your pick. Some of these of course work against each other...but still..

 

[Smiffy]

You don't say......he will be playing the fictional second bidder card (or even encouraging talk of a three course race....). Why? Squeeze a late concession or two, to encourage a few areas to be glossed over in the DD as "not really material anyway", get some more favourable terms agreed particularly re RH and FF and who pays for what, to get this closed quickly.... some or all, take your pick. Some of these of course work against each other...but still..

I'd suggest that's about right.

I do however think there is a 2nd interested party, there is too much noise for it to be fictional IMO.

I wouldn't be surprised if RM is doing a fantastic job at ****ing all parties off though, with some fun and games. It would be very typical wouldn't it.

Let's hope he behaves himself and remembers that it was our club that has given him the opportunity to retire a very rich man.

 

[kentblues]

It may be that the interested parties have agreed that the takeover won’t be complete in time for certain works to be completed and ready (i.e. the pitch) so it’s being funded by the club and added to the sale price

Doubt that myself. More likely the buyer has made clear that they expect the landlord (Ron) to maintain RH and hand it over in a certain condition, after which it's their nightmare, sorry mean responsibility, as the tenant..

 

[Booma]

Doubt that myself. More likely the buyer has made clear that they expect the landlord (Ron) to maintain RH and hand it over in a certain condition, after which it's their nightmare, sorry mean responsibility, as the tenant..

That’s a good point, hadn’t thought of it that way

 

[kentblues]

I'd suggest that's about right.

I do however think there is a 2nd interested party, there is too much noise for it to be fictional IMO.

I wouldn't be surprised if RM is doing a fantastic job at ****ing all parties off though, with some fun and games. It would be very typical wouldn't it.

Let's hope he behaves himself and remembers that it was our club that has given him the opportunity to retire a very rich man.

By bidder I guess I mean someone who has actually made a bid....rather than expressed interest...

 

[GBJ]

Who are the possibilities?

Ron?
PG?
The Trust?
A. N. Other?

Ron - essentially he’s still the owner for now, and as much as he’d like to wash his hands of the club, he’s still duty bound to provide a playable surface for the team next season I suppose. It could possibly be him.

PG - no, I don’t think so.

The Trust - even less likely.

Another - the most likely IMO, although I’d expect this to be part of the final sale, as has been mentioned above.

 

[BEERMONSTER]

Sorry if this has already been raised and dismissed but I really do wonder where Tom Lawrence sits in all this? I have a feeling that what he oversees at the moment, none of it goes on without some level of consultation with the prospective new owners. Now I realise conflict of interest can be thrown into the discussion here as he is CEO to RM but these things do happen in the real world nothing like inside knowledge is there! I know TL has his critics, which I personally don't subscribe to and if the new owners feel there is a continuity benefit for him to have a role going forward then the seeds of a potential working relationship may have been sown already, even if it is clandestine in it's nature at the present.

 

[Snowy]

Having left this thread alone for a while and now reading the new posts it feels a bit like Ground Hog Day.
Yes there are interested parties but no one apart from a select few know where each are in the process. A deal may be close but we probably will not know its done until its properly announced.
All I ask is that we have a club to support, which is well run and able to compete.
We want players to come to Southend because they see the club moving up the football ladder.
Rumour after rumour is not good as too much speculation is generated, which causes complete turmoil.

Let's hope we all get some good news soon .

 

[Liam AAS]

There's a lot of understandable frustration on this thread at the moment. One thing to bear in mind is that most of the leaks seem to have come from Kimura/ISM. We have no idea what Ron is doing and the identity of any other prospective buyers remains a mystery (to most ).

If Kimura tell CP that they've been granted exclusivity, he'll print that story because the echo's website runs on clicks. Everyone has an angle here.

 

[Blue Yonder]

Haven’t really got involved in this debate beyond following the conjecture with interest. One thing someone might be able to clear up for me is….. When Stan first came back onto the scene wasn’t it as a potential buyer/leader of a consortium to buy ? Then he got engaged as a consultant/strategist. Never heard his name mentioned in connection with a sale since. Only ones I’ve heard are Nash briefly, Carl as an interested party who didn’t get far and now the Kimura boys. If there is another realistic option out there it’s amazing there has been no leak about identity, NDA’s or not. Could Stan (and maybe TL) be lurking in the shadows ? The web site, the new ticketing system sound like detail that is part of an ongoing process rather than the demand of a potential buyer or on RM’s list of things to do.

 

[Gorgy21]

Only two weeks until salaries need paying again.

 

[JAL]

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.




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

No, Kimura have exclusivity.