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SUFC: The Future SUFC up for sale

Our hopes and visions for the rebirth of Southend United, plus any plans published by the consortium for discussion
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Anyone else get the feeling all this drama is just part of the ongoing Netflix documentary. Perhaps Ron is going to get all his money back with big royalties playing the villain. Probably be In the Jungle in 2024 for another pay day once it airs..
 
Loan Shark Linda said:
Maybe Ron will take out or increase the bridging loan to pay the debts on the 12th.
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The problem is, bridging finance is exorbitantly expensive and intended only to act as a short term "bridge", as the name suggests, to being able to repay the debt, normally through refinancing or funds being freed up from other sources. With the planning permission and the club sale up in the air at the moment, it is hard to see how he would do so at the moment, and he doesn't exactly have a good track record of repaying other creditors.
 
Liam AAS said:
I am terrifed of this entirely possible outcome.
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Same here.

The financial re-jigging he undertook a few months back will protect him should the club go under (though it had the dual-purpose of appearing to be related to the potential sale of the club).

I've been 100% confident of the buyer's motivation and capabilities from the outset, but (wrongly) assumed that Ron would take more of a backseat in the negotiations, leaving most of the legwork to the consultancy he made such a big song and dance about appointing in the first place.

This transaction is highly complex on three levels:

1) The sheer depth and scale of inter-company liabilities and exposures.
2) The fact part of the deal is contingent on an asset that hasn't been built yet.
3) The fact that you're dealing with an egomaniac who always believes he has the stronger hand and can duck and dive towards a more beneficial outcome.

As I've said a few times, Ron can and will use smoke and mirrors to blame the prospective purchasers if this all goes haywire, but it will all be down to him and him only if the club disappears. Pivotal couple of weeks for the club.
 
I can see tomorrow's planned protest getting very toxic. I simply don't see how anyone gets paid with the current state of affairs, I hope I'm wrong.

Tried logging off several times to relax in the last few weeks, hasn't changed a thing as the situation remains whether I'm on SZ or not. Always got this horrible gnawing dread in the background as the 12th July gets closer.

Football is meant to be an escape from the **** of daily life, for too long at SUFC it's just been additional **** on top of everything else.
 
Liam AAS said:
He's 70, he's cashing his chips in.
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Agreed, my worry is that with the thorough DD that Kimura have done there are too many contingent liabilities uncovered that will need some kind of mitigation allowing for in the final deal that there won't be enough cash for him up front to make him hand over his chips.
 
hlane17 said:
I can see tomorrow's planned protest getting very toxic. I simply don't see how anyone gets paid with the current state of affairs, I hope I'm wrong.

Tried logging off several times to relax in the last few weeks, hasn't changed a thing as the situation remains whether I'm on SZ or not. Always got this horrible gnawing dread in the background as the 12th July gets closer.

Football is meant to be an escape from the **** of daily life, for too long at SUFC it's just been additional **** on top of everything else.
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He deserves it to be toxic, it's deserves a massive turn out tomorrow if you care for the club's future..
 
borientater said:
What I do t understand is how people can come on here and call RM all sorts of names make veiled threats towards him and his family and yet still expect that he will do what suits them best. He will do what he can to maximise his pot and that’s all he was ever gonna do from day one
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I have absolutely no sympathy for him. Staff have gone unpaid for months at one of the biggest financial squeezes on ordinary people in the modern western world (Britain being a particularly terrible country at this).

He is driving people into poverty and desperation for his own gain. If there is a hell, there is a ticket reserved for him. And if something happened to him, I would not shed a tear.
 
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