SUFC: The Future SUFC up for sale

[Tommy2holes]

I'm not just worried about starting the season.

We may expelled from the national league and docked points before then.

We may not even have enough staff or players to prep and play friendlies, the first of which is next week.

 

[Paulie Walnuts]

Its clear to see the hold up is due to Kimura unearthing/the Martins hiding all the past skulduggery which may include unpaid debts, non payments to the HMRC and all the other crap they have no doubt just tried to sweep under carpet and not disclose to any new buyers.

Quite rightly, Kimura are not prepared to walk into a potential load of debt and OR other devious behaviour they've been known for over the years and until any such occurrences are put into the takeover or for once in their lives they are honest and upfront nothing will be agreed.

This is typical of them, thinking they are on a higher level to us all but I promise them one thing which is they will both regret it in a big big way if our beloved club goes down the pan because I will not sit back and watch those two c%ts become multi millionaire's on the back of us all.

 

[Tommy2holes]

I think your friend needs to refocus their unhappiness elsewhere on this unfortunately. This is not on the fans.

Why on earth would people renew when there is a massive chance the season may not even get going for SUFC.

It's not the fans to blame. The fans have been class despite everything that Ron has dragged the club through.

 

[Shrimper]

I'm not just worried about starting the season.

We may expelled from the national league and docked points before then.

We may not even have enough staff or players to prep and play friendlies, the first of which is next week.

Would think it's too late to be kicked out but very likely we get a points deduction

 

[bigsi73]

Its clear to see the hold up is due to Kimura unearthing/the Martins hiding all the past skulduggery which may include unpaid debts, non payments to the HMRC and all the other crap they have no doubt just tried to sweep under carpet and not disclose to any new buyers.

Quite rightly, Kimura are not prepared to walk into a potential load of debt and OR other devious behaviour they've been known for over the years and until any such occurrences are put into the takeover or for once in their lives they are honest and upfront nothing will be agreed.

This is typical of them, thinking they are on a higher level to us all but I promise them one thing which is they will both regret it in a big big way if our beloved club goes down the pan because I will not sit back and watch those two c%ts become multi millionaire's on the back of us all.

Well apparently chris Phillips is chasing up some stories about southend utd while he at Wimbledon

 

[Westcliff DGS]

Being investment bankers they wont want to take on anything i guess that could saddle them with debt. In my experience with work Investment bankers usually look for profits in a short to mid term scenario, there fore i would assume the see the club as a decent asset to do that. In that we get promoted, new stadium and they can sell on and make some money, for that reason I think what many have said that DD has bought up a few things and they want an indemnity against it so they dont get hit with costs they dont want.

Just my musings

 

[TrevorFitzpatrickHattrick]

Being investment bankers they wont want to take on anything i guess that could saddle them with debt. In my experience with work Investment bankers usually look for profits in a short to mid term scenario, there fore i would assume the see the club as a decent asset to do that. In that we get promoted, new stadium and they can sell on and make some money, for that reason I think what many have said that DD has bought up a few things and they want an indemnity against it so they dont get hit with costs they dont want.

Just my musings

Some of the things Ron expected to be waved through wouldn't get past even the most mediocre or liberal of compliance/risk departments.

 

[CanveyCastle]

I haven't got a season ticket as I don't use credit cards and I have no faith whatsoever in the poison dwarf getting us through the season if this takeover fails.

Debit cards or cash don't have the same safeguards.

 

[bazzashrimper]

Being investment bankers they wont want to take on anything i guess that could saddle them with debt. In my experience with work Investment bankers usually look for profits in a short to mid term scenario, there fore i would assume the see the club as a decent asset to do that. In that we get promoted, new stadium and they can sell on and make some money, for that reason I think what many have said that DD has bought up a few things and they want an indemnity against it so they dont get hit with costs they dont want.

Just my musings

Yes. Or some kind of retainer payment from Ron - to be given back if no skeletons come out, or to be paid to kimura if they do.

 

[The General]

See your point but my friend who works at the club and is waiting for wages isn’t so happy about fans boycotting season tickets

Tell your pal that's an awful take on the situation!

 

[Westcliff DGS]

Tell your pal that's an awful take on the situation!

You can understand it, they are not being paid and have families and bills to pay, so maybe they want money coming into the club.

I see both sides but for me his view isnt an awful take on the situation

 

[Mad Cyril]

Being investment bankers they wont want to take on anything i guess that could saddle them with debt. In my experience with work Investment bankers usually look for profits in a short to mid term scenario, there fore i would assume the see the club as a decent asset to do that. In that we get promoted, new stadium and they can sell on and make some money, for that reason I think what many have said that DD has bought up a few things and they want an indemnity against it so they dont get hit with costs they dont want.

Just my musings

They are not investment bankers.

 

[samtheshrimp]

Yes. Or some kind of retainer payment from Ron - to be given back if no skeletons come out, or to be paid to kimura if they do.

Id want collateral if I was dealing with ron martin - an indemnity just wouldnt cut it!!

 

[united we stand]

I'm not ITK. I've just spoken to a lawyer (my brother) about how DD works. Basically, you only move on to DD when the price has been agreed.

But surely the price is agreed on the basis that the info given to date is accurate. If DD brings up something new/something that contradicts what you had been told you take this into account?

I don’t like the analogy with buying a house as this is far more complex, but in buying a house you have a survey ( DD) and if it brings up something bad you might choose to re-negotiate

 

[Shrimper]

Well apparently chris Phillips is chasing up some stories about southend utd while he at Wimbledon

That sounds ominous

 

[mark387]

You can understand it, they are not being paid and have families and bills to pay, so maybe they want money coming into the club.

I see both sides but for me his view isnt an awful take on the situation

I certainly understand it. You have fans screaming for the staff to be rightly paid by an insolvent business and on the other you have the same fans exacerbating the insolvency by refusing to pay for tickets they soon will be anyway.

I also don't blame the fans withholding their season ticket money.

 

[bazzashrimper]

But surely the price is agreed on the basis that the info given to date is accurate. If DD brings up something new/something that contradicts what you had been told you take this into account?

I don’t like the analogy with buying a house as this is far more complex, but in buying a house you have a survey ( DD) and if it brings up something bad you might choose to re-negotiate

And certain things you would ask the seller to take out an indemnity policy for too.

 

[Userorange]

I don’t like the analogy with buying a house as this is far more complex, but in buying a house you have a survey ( DD) and if it brings up something bad you might choose to re-negotiate

Or walk away.

 

[Westcliff DGS]

Some of the things Ron expected to be waved through wouldn't get past even the most mediocre or liberal of compliance/risk departments.

Your probably right

 

[WestyReturns]

Yes. Or some kind of retainer payment from Ron - to be given back if no skeletons come out, or to be paid to kimura if they do.

I'd imagine a large portion of the payment with go into escrow.