SUFC: The Future SUFC up for sale

[Medway Blue]

I know some are relaxed if next season is impacted and we are mid table if it means we get the deal over the line. I very much doubt Kimura are equally relaxed as they will know how to monetise the cost of an extra season in the NL- with the EFL TV and other monies a significant sum (£1-2m?.

With the new EFL TV rights that have been agreed, promotion back to the EFL would represent a c.£2m swing in income and funding.

I said yesterday that I think new ownership with some competence, integrity and accountability will improve the balance sheet and reduce losses and I stand by that, but it's undeniable that an extra £2m in income after promotion would be huge.

So already impacting next season and preparations...

Something else that you would hope will focus some minds over the next week or two.

 

[londonblue]

I think BW is pretty close to the mark on this. There comes a point where you have found what you are going to find, know what you don't know, and need to get the cow over the bucket...

Danger is whatever you gain from continuing you lose in terms of damaging the value of what you're buying. Yes you can try and mitigate the risk further, yes you can try and renegotiate, and yes these may work given time. But you still end up with a devalued product.

Yes they could just decide to walk away having spent £400k odd on DD. But they know what they are doing and how to evaluate risk and reward.

I know some are relaxed if next season is impacted and we are mid table if it means we get the deal over the line. I very much doubt Kimura are equally relaxed as they will know how to monetise the cost of an extra season in the NL- with the EFL TV and other monies a significant sum (£1-2m?.

I partly agree, but my view is that they'll just as likely see the money spent so far as a sunk cost, i.e. money they can't recover. That doesn't mean they'll be happy to throw good money after bad if the deal doesn't suit them.

 

[londonblue]

I did mean to say that, sorry. They either say that’ll do and take the chance, or tip it bollocks and say not worth the hassle. DD can’t rumble on for 6/12 months like it can do in “normal” circumstances

And the worry for me is that Ron pushes them towards the latter.

 

[hlane17]

I partly agree, but my view is that they'll just as likely see the money spent so far as a sunk cost, i.e. money they can't recover. That doesn't mean they'll be happy to throw good money after bad if the deal doesn't suit them.

The sum they spend on investigating the club and its accounts could be money well spent.

They could be set to lose much more than the bill for DD if they bought the basket case that is SUFC with no questions asked.

 

[Tommy2holes]

My usual sources seem to have gone quiet. I'm thinking this is more a case of the things progressing silently than things going wrong.

My concern is the damage being done at this time.

Pre season is usually a time of talking about who is being released, pre season fixtures and interviews with the manager.

It's been complete radio silence from the club. No news really about season card sales or offers, no news about players, other than one or two who decided to leave.

We've only really learnt of pre season fixtures by other clubs publishing their own pre seasons.

We have no idea if players will get paid.

This is ridiculous.

This week is really make or break for me.

Takeover means players paid, contracts signed and pre season starts properly, with signings to come.

No takeover means player unpaid, players walking away and pre season in tatters. Think the sturrock season but far worse.

Fingers crossed.

 

[Leeboy]

From the Echo 17th July 2010 (just for a bit of nostalgia):


PAUL Sturrock’s rebuilding of Southend United has continued with five new signings.


Sturrock has brought in midfielder Craig Easton, wingers Sofiene Zaaboub and Ryan Hall, defender Mohsni Bilel and his son Blair who plays as a striker.

They have all put pen to paper on one year pre contract agreements and their registration will be completed when the club come out of their transfer embargo.

Easton has also been confirmed as the team’s new captain but Francis Laurent, Jean-Francois Christophe, Franck Moussa and Stuart O’Keefe have all expressed their desire to leave.

 

[kentblues]

The sum they spend on investigating the club and its accounts could be money well spent.

They could be set to lose much more than the bill for DD if they bought the basket case that is SUFC with no questions asked.

Of course this is very true. It's balance. The DD spend shows a significant level of commitment. You don't spend that sort of money and then walk away over £100k either. Find a £2m hole then you might. At some point it becomes material. If £1-2m were material then screwing next season potentially is at that level. Thing is no one knows what the DD process has thrown up. My view is had it been something particularly alarming we would have got wind of it through various sources? We don't know for sure what is now holding things up.

My feeling is that the outstanding issues would need to be significant for the parties to allow this to drag on beyond this week for the reasons previously discussed.

 

[dusterman]

From the Echo 17th July 2010 (just for a bit of nostalgia):


PAUL Sturrock’s rebuilding of Southend United has continued with five new signings.


Sturrock has brought in midfielder Craig Easton, wingers Sofiene Zaaboub and Ryan Hall, defender Mohsni Bilel and his son Blair who plays as a striker.

They have all put pen to paper on one year pre contract agreements and their registration will be completed when the club come out of their transfer embargo.

Easton has also been confirmed as the team’s new captain but Francis Laurent, Jean-Francois Christophe, Franck Moussa and Stuart O’Keefe have all expressed their desire to leave.

Ahhh, some Southend legends in that article. Thanks for sharing, cheered me up oddly!

 

[dusterman]

My usual sources seem to have gone quiet. I'm thinking this is more a case of the things progressing silently than things going wrong.

My concern is the damage being done at this time.

Pre season is usually a time of talking about who is being released, pre season fixtures and interviews with the manager.

It's been complete radio silence from the club. No news really about season card sales or offers, no news about players, other than one or two who decided to leave.

We've only really learnt of pre season fixtures by other clubs publishing their own pre seasons.

We have no idea if players will get paid.

This is ridiculous.

This week is really make or break for me.

Takeover means players paid, contracts signed and pre season starts properly, with signings to come.

No takeover means player unpaid, players walking away and pre season in tatters. Think the sturrock season but far worse.

Fingers crossed.

You were talking last week could be it potentially as well so hopefully things have moved on and it’s close.

For all the reasons you mention, it needs to be close.

 

[THE SEVENTIES NORTH BANK]

From the Echo 17th July 2010 (just for a bit of nostalgia):


PAUL Sturrock’s rebuilding of Southend United has continued with five new signings.


Sturrock has brought in midfielder Craig Easton, wingers Sofiene Zaaboub and Ryan Hall, defender Mohsni Bilel and his son Blair who plays as a striker.

They have all put pen to paper on one year pre contract agreements and their registration will be completed when the club come out of their transfer embargo.

Easton has also been confirmed as the team’s new captain but Francis Laurent, Jean-Francois Christophe, Franck Moussa and Stuart O’Keefe have all expressed their desire to leave.

I was at the training ground when we had hardly any players. Paul Sturrock spent the whole training session, and before, and after, on his mobile talking to players and agents. Whilst the existing very few(about 3 or 4 if memory is correct), gently stretched and did light exercises with a fitness coach. It was amazing, as within days, we had a squad. Some diamonds, a few duffs. But a fairly good squad. He pulled off a minor miracle very quickly, with very little money. Well done Paul Sturrock.

 

[SouthendSpence]

I was at the training ground when we had hardly any players. Paul Sturrock spent the whole training session, and before, and after, on his mobile talking to players and agents. Whilst the existing very few(about 3 or 4 if memory is correct), gently stretched and did light exercises with a fitness coach. It was amazing, as within days, we had a squad. Some diamonds, a few duffs. But a fairly good squad. He pulled off a minor miracle very quickly, with very little money. Well done Paul Sturrock.

Paul Sturrock's contribution to this club's (albeit fairly recent) history cannot be understated.

 

[Spaceman Spiff]

The sum they spend on investigating the club and its accounts could be money well spent.

They could be set to lose much more than the bill for DD if they bought the basket case that is SUFC with no questions asked.

SUFC isn’t a basket case. Ron Martin, his corporate structures, his loading the balance sheet with debts related to his incompetence or profligate spending, and his vast graveyard of legal issues and burned bridges are the basket case. There was, and is, no reason whatsoever that SUFC should be a basket case. It’s just crying out for basic competence and ethics.

 

[Callumturner22]

Yeah I thought there would of been a little interview with Kev by now just to say looking forward to starting up for pre season again and so on but surprised that we’ve heard nothing .

 

[Blue Yonder]

I assume the emergency unfrozen bank account doesn’t have enough in it for this months wages.

 

[Boreham Blue]

From the Echo 17th July 2010 (just for a bit of nostalgia):


PAUL Sturrock’s rebuilding of Southend United has continued with five new signings.


Sturrock has brought in midfielder Craig Easton, wingers Sofiene Zaaboub and Ryan Hall, defender Mohsni Bilel and his son Blair who plays as a striker.

They have all put pen to paper on one year pre contract agreements and their registration will be completed when the club come out of their transfer embargo.

Easton has also been confirmed as the team’s new captain but Francis Laurent, Jean-Francois Christophe, Franck Moussa and Stuart O’Keefe have all expressed their desire to leave.

I guess they expected they would be paid though. Not sure anyone signing pre contract agreements now would be as confident.

 

[hlane17]

SUFC isn’t a basket case. Ron Martin, his corporate structures, his loading the balance sheet with debts related to his incompetence or profligate spending, and his vast graveyard of legal issues and burned bridges are the basket case. There was, and is, no reason whatsoever that SUFC should be a basket case. It’s just crying out for basic competence and ethics.

True that it's Ron Martin's making, but some of these issues will be tied to the club now rather than just him.

E.g. the club's relationship with all sorts of local businesses, football clubs, agents and players. Time and money will need to be invested to repair bridges or build new ones entirely.

The burden of proof will be on new ownership (if or when it happens) to demonstrate that SUFC has changed in those respects.

 

[londonblue]

The sum they spend on investigating the club and its accounts could be money well spent.

They could be set to lose much more than the bill for DD if they bought the basket case that is SUFC with no questions asked.

Indeed, but the point i'm making is the money they've spent so far wouldn't be a reason to continue whatever the cost. They're business men, and will act as such. If Ron is messing them around too much, or they no-longer think the deal is worth it then they'll just walk away regardless of what they've already spent, i.e. they won't throw good money after bad.

 

[alansufc23]

I'm guessing there is no news today......

Anyone feeling anxious about all of this

 

[Smiffy]

I believe pre season starts tomorrow, but due to the physio not being paid they wont be present, so know bleep test or exerting training can be done. Probably just body fat measurements etc.
As I understand it, I believe the thinking is Bridge and Sandat may hopefully be the 15th and 16th in the 16 allowed under the embargo as non contract players until the embargo is lifted.
With no experience left at all, Ralph and JD are very much needed and the club hope to keep both somehow. JD possibly in a coaching role until the embargo is lifted when he can be also available to play and hopefully somehow keep ralph too.

Absolutely embarrassing.

 

[THE SEVENTIES NORTH BANK]

I don't think anyone here thinks Ron is easy to deal with. I don't think anyone here will be surprised at the complexity of the web Ron has tangled behind the scenes. I don't think anyone will be surprised if Ron is not forth coming with all the information on the financial web and mess he has made. He will give them what he has to. Some he won't mention, so they could get a few surprises after a takeover. (Although they are being extremely thorough to learn everything and not have surprises). They will have to drag some out of him. They will have to go very deep under the covers to learn the rest.
Anyway. That's my take on a little snippet I heard.