SUFC: The Future SUFC up for sale

[GBJ]

Thanks for confirming, so a period of exclusivity is for what purpose then?

To enable a few days for them to complete without concern of being gazumped?

Exclusivity is the point at which a buyer (Kimura) have exclusive “rights” to close the deal, without another party trying to swoop in and steal it from them at the 11th hour.
As it stands, Kimura are cracking on without the exclusivity (and have spent a 6-figure sum on DD, in the process).

 

[Andy_S]

Only problem is, it'll be a Bret Hart/Steve Austin 1997-style finish where we don't know who has won.

As long as it’s not a Bret Hart/Shawn Michaels style finish.

 

[leeblue]

As long as it’s not a Bret Hart/Shawn Michaels style finish.

Montreal screw job

 

[Avl1983]

Exclusivity is the point at which a buyer (Kimura) have exclusive “rights” to close the deal, without another party trying to swoop in and steal it from them at the 11th hour.
As it stands, Kimura are cracking on without the exclusivity (and have spent a 6-figure sum on DD, in the process).

That shows their commitment! Let’s hope is all done and dusted soon.

 

[EastStandBlue]

Does anyone else find it strange how we’ve learnt near to nothing from any journalists about the state of the sale?

You have to assume neither party are keen to let any info out at all and are preferring to let things play out as they are so far?

I would guess if Kimura do get close to pulling out leaking a little info about the perilous nature of things may be a tactic they’d use, unless they think the fall out from a resentful Ronald is worse than the pressure he’d be put under by the fans.

Not especially strange. A journalist will only be as good as their sources, so if the source(s) stop talking then the stories dry up.

What you can possibly take from the current lack of information is that there’s either nothing new to say, progress is now comparatively delicate so the circular of people informed/in a position to share new information has shrunk, or, given the previous ‘leaks’ to the likes of The Echo and The Athletic, someone’s kicked off about information getting out and asked other parties to stop leaking information.

 

[Andy_S]

Does anyone else find it strange how we’ve learnt near to nothing from any journalists about the state of the sale?

I do feel like there must be some kind of reason why Chris and Matt Slater have not followed up their initial reporting, even just to say “this is still dragging on.”

 

[Medway Blue]

As long as it’s not a Bret Hart/Shawn Michaels style finish.

Hadn't even thought of that. Ouch.

 

[BEERMONSTER]

That shows their commitment! Let’s hope is all done and dusted soon.

Hopefully this commitment has it's roots in an effinity for the football club. I am hopeful this is the case as I think without it they would have walked by now. I bet there has been more leaps of faith and green lighting at each stage of progress than they would normally entertain. They had the knowledge and mark of RM, they didn't go into this blind I hope they have a continued persistent to get this deal done and like all I hope soon, very very soon.

 

[class]

This has probably already been covered elsewhere on here (apologies if so) but the housing development being built behind the B+Q store in Southend (the 200 or so flat pack houses) has ground to a halt because contractors are not being paid. Guess who has failed to pay....

 

[yogi bear up the cagire]

Actually, as much as I don't want to be a pedant (he lied, brilliantly) the subject of Munch's painting is not the one doing the screaming. The figure is reacting to hearing the "scream" of Nature, or as Munch put it, "an infinite scream passing through nature"

Thanks for your precise analysis of Munch's painting. However I'm tempted to reply, "Never let the truth get in the way of a good story (image)?" Or................ 'If the cap fits' Anyway, the image, if not the true meaning, portrays exactly how I (and probably the majority of us) bloody feel at the moment!

 

[Ealingshrimp]

I'd just like to see our beloved club on a stable footing for a change. Not lurching from one disaster to another like a toddler in a bullring.

 

[Supershrimper]

This has probably already been covered elsewhere on here (apologies if so) but the housing development being built behind the B+Q store in Southend (the 200 or so flat pack houses) has ground to a halt because contractors are not being paid. Guess who has failed to pay....

For once not Ron

Ike Homes, the company that are supplying the homes has been put up for sale and have paused production. They are building the homes in Southend in partnership with The Guinness Partnership

ilke Homes commences on site to deliver 221 affordable homes in Southend. | ilke Homes

ilkehomes.co.uk

Ilke Homes up for sale, pauses production at factory

Modular housebuilder Ilke Homes is up for sale, pausing production with an estimated 4,200 units yet to be delivered

www.pbctoday.co.uk

 

[Ozzer]

This has probably already been covered elsewhere on here (apologies if so) but the housing development being built behind the B+Q store in Southend (the 200 or so flat pack houses) has ground to a halt because contractors are not being paid. Guess who has failed to pay....

? It's Ilke Homes & Guinness Homes

 

[Exiled in Norfolk]

DD began a few weeks ago

You don’t need exclusivity to begin or carry out DD

Hi.

This - 100% in my view.

Sorry, I've only ever posted a handful of times, and twice on DD now! Just to knock on the head the whole "DD doesn't begin until exclusivity". As Kimura are in financial services (and presumably regulated by FCA / PRA), my own experience of DD remains that any number of parties can begin DD (call it round 1). Some questions, the seller may decline to answer until exclusivity ("round 2") because the information is commercially sensitive and/ or lawyers advise to defer the Qs until later.

Having worked on a number of sales & acquisitions (in fin serv, nothing as interesting as a football club more's the pity), it's just not my experience that DD and exclusivity go hand in hand, at least at the start. However, to repeat, some answers may not be forthcoming until there is exclusivity.

As somebody posted, DD will end up in diminishing returns - you end up spending serious money digging, probing etc and the benefit back in terms of additional info might be marginal. Ultimately, if it is Kimura and if they operate "typically" (ie like I've seen other firms!!!) then there will be a risk report to their Board laying out the pros and cons against their appetite to risk. God knows where we are on that timeline if indeed that is the process!

 

[Ozzer]

Hi.

This - 100% in my view.

Sorry, I've only ever posted a handful of times, and twice on DD now! Just to knock on the head the whole "DD doesn't begin until exclusivity". As Kimura are in financial services (and presumably regulated by FCA / PRA), my own experience of DD remains that any number of parties can begin DD (call it round 1). Some questions, the seller may decline to answer until exclusivity ("round 2") because the information is commercially sensitive and/ or lawyers advise to defer the Qs until later.

Having worked on a number of sales & acquisitions (in fin serv, nothing as interesting as a football club more's the pity), it's just not my experience that DD and exclusivity go hand in hand, at least at the start. However, to repeat, some answers may not be forthcoming until there is exclusivity.

As somebody posted, DD will end up in diminishing returns - you end up spending serious money digging, probing etc and the benefit back in terms of additional info might be marginal. Ultimately, if it is Kimura and if they operate "typically" (ie like I've seen other firms!!!) then there will be a risk report to their Board laying out the pros and cons against their appetite to risk. God knows where we are on that timeline if indeed that is the process!

Hence the suggestion that a certain amount of the sale proceeds may be ring-fenced to protect the buyer should anything undiscovered arise at a later date.

 

[Shrimper]

Another day without news. Just depressing at this point

 

[dusterman]

Hence the suggestion that a certain amount of the sale proceeds may be ring-fenced to protect the buyer should anything undiscovered arise at a later date.

Be immensely difficult to quantify a legal document to implement this type of thing I’d of thought, especially with a *****ster like RM

 

[JAL]

Another day without news. Just depressing at this point

I think you need to stop visiting Shrimperzone for a little bit in all honesty, it’s not a knock on you, it’s just advise, all posts from you just seem so depressingly negative, I feel like it would be great to take a break from SZ?

And that goes for anyone feeling like they’re constantly scrolling and getting frustrated, log out for a bit and hopefully in a few days time or so, maybe a positive bit of news will come out, it may not but who knows.

 

[class]

For once not Ron

Ike Homes, the company that are supplying the homes has been put up for sale and have paused production. They are building the homes in Southend in partnership with The Guinness Partnership

ilke Homes commences on site to deliver 221 affordable homes in Southend. | ilke Homes

ilkehomes.co.uk

Ilke Homes up for sale, pauses production at factory

Modular housebuilder Ilke Homes is up for sale, pausing production with an estimated 4,200 units yet to be delivered

www.pbctoday.co.uk

I'm led to believe Ron has a finger somewhere in the Ike Homes / Guiness Partnership pie.

 

[Smiffy]

I'm led to believe Ron has a finger somewhere in the Ike Homes / Guiness Partnership pie.

Interesting and would explain a lot.