SUFC: The Future SUFC up for sale

[Yorkshire Blue]

This decision in no way reflects adversely on the Kimura company involved. It was a decision about the effect of an offer to Kimura to settle a claim before trial. It involved a decision about a technical point arising under the rules of court. Nothing to see here.

Agree with all but the last sentence.

There is plenty to see here and this is a very interesting find, particularly if you trace it back to the original decision. We knew next to nothing about Kimura (something that people seem surprisingly ok with) and this offers us a real insight into their business, what sort of sums they were lending, details of their Cayman entity that actually carries out the business, the interest charged, their legal spend, what other preoccupations they may have had during the bidding process.

This also likely impacts their tolerance for legal risk as having just been stung for $5m they are likely going to be more cautious with the contractual negotiations with a character as slippery as Ron.

In a thread full of speculation here is some actually verified information on one of the parties involved.

 

[BEERMONSTER]

They’ve just tweeted that it’s “the lads’ first day back on the grass” and every single reply is something derogatory. Can totally see why they don’t bother.

All credit to the media guys for trying to carry on with a sense of normality in an atmosphere of intense uncertainty. It's a shame people can't appreciate the efforts of the individuals involved and are drawn to making adverse comments on situations which are out of these guys control or remit. I understand the frustrations but it works both ways.

 

[Medway Blue]

Think part of the problem being considered is that a ringfenced fund is wanted retaining some of the purchase money that can be reclaimed if something comes out of the woodwork over a pre set period of time.
I would imagine the amount and period are a sticking point.

An absolutely logical thing for Kimura to request, and something which might speed things along as it provides a bit of a safety net if time considerations/an uncooperative seller mean that DD cannot really continue.

 

[Bromley Blue]

They wouldn't get any aggro at all of the club (Ron) provided updates.

He doesn't give a toss and the only noise coming from the club is media tweets etc.

There is so much frustration, anger and worry at the moment that the club will fold. It's no wonder people are trying anyway possible to vent the above, albeit at the wrong people.

Yeah your last sentence sums it up. I agree with everything you’ve said - I want Martin gone as much as the rest of you. But ranting at the guy who updates the Twitter isn’t gonna change anything.

 

[ms brush]

Yeah your last sentence sums it up. I agree with everything you’ve said - I want Martin gone as much as the rest of you. But ranting at the guy who updates the Twitter isn’t gonna change anything.

Agree, particularly as the poor person doing the Twitter updates probably hasnt be paid for months...

 

[Ramsdenblue]

Ron really gets my goat.
Would he really take this club to the brink of extinction.

All that history of the supporters of more than 100+ years.
Supporters going of to world war 1, and then world war 2, for all the serviceman now, that carry their SUFC flag on their tours, for all the persons that suffer with Mental Health, were football is a massive relief for them, screaming and shouting certainly beats £95 per half hour.

Generations of family members talking about the old days at the Kursal and still going to matches with their Grand children, and even possibly great Grand children.

For all those who SUFC supporters, it is a big part of their lives.

And Ron is playing with OUR ! OUR !! OUR !!! club possibly like a play thing, like his little play toy. Risking all those 1000,s of future memories we will all have.

He is playing with the community of Southend and surrounding areas, this legally should not be allowed, SUFC is a community asset and should be treated as such.

For persons of a certain age,
Would you Put Ron into the same category as someone called Barry in the 90's.

off topic, i know.

 

[Liam AAS]

It seems fairly common knowledge that the DD has been completed. Kimura will want certain guarantees and if they aren't forthcoming, there is no incentive for them to hurry it along. Their primary objective is to buy a football club that will produce a return for their investors, not one that they can get quickly and which will cause them massive financial issues in the future. I'm sure they would like it asap, but July 12th isn't far away. If we lose a couple of players, it's really no big deal. Anyone under contract can be bought anyway, so it's not a given that a player who is with us is going to stay with us.

Not yet. Ron's web of companies, loans and deals is insane.

 

[Liam AAS]

Got West Ham mates (we all have our flaws I suppose) who are ranting about how £105m is not enough for Rice.

They don’t live in a different footballing world, it’s a different universe altogether. It’s why I can’t stand the Premier League.

We are objectively the worst run club in the country.

 

[Tommy2holes]

Yeah your last sentence sums it up. I agree with everything you’ve said - I want Martin gone as much as the rest of you. But ranting at the guy who updates the Twitter isn’t gonna change anything.

Of course it won't change a thing, I'm just stating that there are reasons for it.

 

[hlane17]

We are objectively the worst run club in the country.

I’m inclined to agree. Some days I tell myself to get a grip when I’m angry/upset about the state of Southend but I probably underestimate just how bad it has been. The only way it gets worse is we go bust.

I’d probably have something wrong with me if it didn’t royally **** me off. Can’t speak football with mates without it devolving into a rant about the state of SUFC.

 

[Tommy2holes]

I’m inclined to agree. Some days I tell myself to get a grip when I’m angry/upset about the state of Southend but I probably underestimate just how bad it has been. The only way it gets worse is we go bust.

I’d probably have something wrong with me if it didn’t royally **** me off. Can’t speak football with mates without it devolving into a rant about the state of SUFC.

Same for me. I get really upset and angry thinking about the state the club is in.

It really does feel like we are on life support with doctors saying our survival depends on the next few days.

If the club was lost, the deverstation would be felt by so many fans.

Some of the best memories I have are blues related.

Heres hoping there are plenty more to come.

 

[Shrimper]

Not yet. Ron's web of companies, loans and deals is insane.

If the DD was complete it would be done so definitely something dodgy therr

 

[shrimperjon]

I’m inclined to agree. Some days I tell myself to get a grip when I’m angry/upset about the state of Southend but I probably underestimate just how bad it has been. The only way it gets worse is we go bust.

I’d probably have something wrong with me if it didn’t royally **** me off. Can’t speak football with mates without it devolving into a rant about the state of SUFC.

would say thats how we all feel. Anyone who doesnt probably doesnt have a deep rooted love for the club. cant be alone in checking my phone, social media, shrimperzone every 5 mins in the desperate hope of good news

 

[Swiss Tony]

We are objectively the worst run club in the country.

Lions led by a Donkey.

 

[greyerfox]

Agreed, the article Napster cited indeed deals with a technical point on offers (P36) and how much costs should Kimura pay following losing in an underlying claim (eg should they pay all costs or just reasonable costs) of their opponent following losing.

However, essentially, it looks like Kimura were sued for £3.9million odd quid, defended the case to trial and lost - so now have to pay those funds, plus their opponents costs, plus their own costs. (Cue jokes about them being a good fit for the SUFC ownership model of the last 25 years!).

This gives a better overview of the case - warning - it is an incredibly dry read - but does give some insight into their business

https://www.casemine.com/judgement/uk/646bb8068be1a87c38f8cd6e/amp

I am indebted to No 11 for mining the original case judgment, which does make for very interesting reading, if somewhat dry, as he says. And I also thank Yorkshire for his thoughtful comments above about the substantive case.

 

[Ozzer]

Lions led by a Donkey.

This post could be in the club bio.

 

[LCBB72]

Agreed, the article Napster cited indeed deals with a technical point on offers (P36) and how much costs should Kimura pay following losing in an underlying claim (eg should they pay all costs or just reasonable costs) of their opponent following losing.

However, essentially, it looks like Kimura were sued for £3.9million odd quid, defended the case to trial and lost - so now have to pay those funds, plus their opponents costs, plus their own costs. (Cue jokes about them being a good fit for the SUFC ownership model of the last 25 years!).

This gives a better overview of the case - warning - it is an incredibly dry read - but does give some insight into their business

https://www.casemine.com/judgement/uk/646bb8068be1a87c38f8cd6e/amp

There is a rumour that Kimura have pulled out .

 

[Napster]

I am indebted to No 11 for mining the original case judgment, which does make for very interesting reading, if somewhat dry, as he says. And I also thank Yorkshire for his thoughtful comments above about the substantive case.

It was pure chance I came across it on LinkedIn as a contact moaned about the decision -

 

[palexander]

There is a rumour that Kimura have pulled out .

From where... whom?

 

[AlfaShrimper]

There is a rumour that Kimura have pulled out .

Please don't post this without giving actual info to back it up!! Where have you heard this?