SUFC: The Future SUFC up for sale

[shrimperjon]

Just wondering why we havnt heard more from Kimura. Obvs there is the NDA in place but surely we have gone beyond that:

Matt Slater released a story regarding the possible takeover
We know Kimura want to purchse the club and are in the process of trying to complete
Ron has been emailing supporters with basic info but very much putting the ball on the Kimura side of the net
Kimura through Instagram have twice indicated in some way that the deal was close or words to that affect
Ron is happy to publically state that its down to Kimura
We know that Kimura are on SZ and see what is written
Now with news that the players and staff yet again havnt been paid there is a risk to losing staff and players etc
12/7 is approaching fast and we have no idea what the outcome will be

So what is stopping them releasing a statement outling their position?

 

[C'mon you Shrimpers]

It would be possible, but it is never realistically going to happen.

You wouldn't do that on even the simplest business acquisition, let alone a tangled web of intercompany dealings.

The issue we currently have is down to clauses in the contract, there are certain red lines drawn up by both parties and some of them are fundamentally opposed on the same issue. Unless they can agree a way around this we have come to an impasse.

First time I'm genuinely fearful for our future, no real way out of the current situation and the 12th July is not very far away to work out a solution.

I fear it could be curtains.......

Thanks for the reply. What has always worried me a bit is the idea that anyone whether they are good at business or not see SUFC as a profitable investment. They might with a new ground break even but at Roots Hall forget it. Whoever buys it must understand that it is an will remain certainly in the near future as a loss making enterprise. So why do it. Sentiment probably but little else. One day the fans will hate you. Having said that C'mon Kimura.

 

[Cricko]

I would like to say regarding season tickets and staff wages I fully understand people not buying their season ticket because of Ron martin and agree it’s Ron’s responsibility to ensure his staff are paid fully & on time , but the club was relying on ticket sales for wages so when a thousand plus supporters decided not to renew this income was not there, whatever is right or wrong in reality this is what happened so l’m only passing on what happened to my friend at the club and they stay there because they are loyal to Southend United ( such a sad state of affairs but this is where we are now)

Nice to meet you the other day.....The point is , you could buy 10.000 season tickets but none of that money would guarantee the staff got paid. I feel so sorry for your friend and all the others that are loyal to the club , but until RM is gone nothing will change.

 

[Cricko]

Just wondering why we havnt heard more from Kimura. Obvs there is the NDA in place but surely we have gone beyond that:

Matt Slater released a story regarding the possible takeover
We know Kimura want to purchse the club and are in the process of trying to complete
Ron has been emailing supporters with basic info but very much putting the ball on the Kimura side of the net
Kimura through Instagram have twice indicated in some way that the deal was close or words to that affect
Ron is happy to publically state that its down to Kimura
We know that Kimura are on SZ and see what is written
Now with news that the players and staff yet again havnt been paid there is a risk to losing staff and players etc
12/7 is approaching fast and we have no idea what the outcome will be

So what is stopping them releasing a statement outling their position?

They are just a possible buyer, (the only one as i see it) nothing is set in stone yet, so releasing a statement from their side is surely immaterial and is just smoke in the wind until something is finalized. RM is making waves with his responses to emails to put pressue on Kimura.

 

[BlueArmy1906]

Just wondering why we havnt heard more from Kimura. Obvs there is the NDA in place but surely we have gone beyond that:

Matt Slater released a story regarding the possible takeover
We know Kimura want to purchse the club and are in the process of trying to complete
Ron has been emailing supporters with basic info but very much putting the ball on the Kimura side of the net
Kimura through Instagram have twice indicated in some way that the deal was close or words to that affect
Ron is happy to publically state that its down to Kimura
We know that Kimura are on SZ and see what is written
Now with news that the players and staff yet again havnt been paid there is a risk to losing staff and players etc
12/7 is approaching fast and we have no idea what the outcome will be

So what is stopping them releasing a statement outling their position?

As far as I am aware, they got a little too carried away whilst under the NDA (at the start) and the radio silence now is due to people being miffed about their noisiness at the start of the NDA.

 

[londonblue]

They are just a possible buyer, (the only one as i see it) nothing is set in stone yet, so releasing a statement from their side is surely immaterial and is just smoke in the wind until something is finalized. RM is making waves with his responses to emails to put pressue on Kimura.

Indeed, and the longer this drags on the less likely it is to happen, in my opinion.

 

[shrimperjon]

They are just a possible buyer, (the only one as i see it) nothing is set in stone yet, so releasing a statement from their side is surely immaterial and is just smoke in the wind until something is finalized. RM is making waves with his responses to emails to put pressure on Kimura.

yes fair comment, thanks mate

 

[SeldomSeenShrimper]

One detail we can't overlook is the company in charge of selling the club.

They surely will want to get their commission and if the offer is legit good for their client, they will encourage him to sell ...

Or am I completely wrong?

 

[Supershrimper]

If the squad go on strike and hand in contract cancellation requests how would that affect Kimura and their pricing of the club. If they hadn't banked on having to bankroll a couple of extra players due to some exercising their rights would they be requesting a further reduction.

What happens if the league don't accept us, is that toast for the Kimura bid.

 

[bazzashrimper]

Would Ron still be able to put us into administration? Obviously catastrophic for this season, but is it a possible way out?

 

[TrevorFitzpatrickHattrick]

If the squad go on strike and hand in contract cancellation requests how would that affect Kimura and their pricing of the club. If they hadn't banked on having to bankroll a couple of extra players due to some exercising their rights would they be requesting a further reduction.

What happens if the league don't accept us, is that toast for the Kimura bid.

The only assets the club have are our (non) league status and the player's contracts. Without either of those, a buyer would be frankly bonkers to proceed for anything other than philanthropic reasons.

 

[palexander]

Would Ron still be able to put us into administration? Obviously catastrophic for this season, but is it a possible way out?

Didnt Anna Firth say that is now not possible?

 

[rigsby]

Surely no price can be final if the buyer turns up bodies.

I love your house , but the survey has turned up rising damp........

A man of your experience would quickly point out that rising damp is complete myth. that you have already dealt with the real reasons there was damp and there will be no problems in the future. Therefore you will certainly not be accepting lower offer.

 

[Leigh_Seasider]

I would like to say regarding season tickets and staff wages I fully understand people not buying their season ticket because of Ron martin and agree it’s Ron’s responsibility to ensure his staff are paid fully & on time , but the club was relying on ticket sales for wages so when a thousand plus supporters decided not to renew this income was not there, whatever is right or wrong in reality this is what happened so l’m only passing on what happened to my friend at the club and they stay there because they are loyal to Southend United ( such a sad state of affairs but this is where we are now)

Says who? Ron? He’s relying on any money coming in from anywhere!! Do I absolutely trust my cash would’ve gone into hard working people’s pockets…no I don’t. That’s the issue.

 

[Flinty]

A man of your experience would quickly point out that rising damp is complete myth. that you have already dealt with the real reasons there was damp and there will be no problems in the future. Therefore you will certainly not be accepting lower offer.

Love the fact Rigsby has replied to a Rising Damp matter !

 

[Holy Joe]

Thanks for the reply. What has always worried me a bit is the idea that anyone whether they are good at business or not see SUFC as a profitable investment. They might with a new ground break even but at Roots Hall forget it. Whoever buys it must understand that it is an will remain certainly in the near future as a loss making enterprise. So why do it. Sentiment probably but little else. One day the fans will hate you. Having said that C'mon Kimura.

I think Kimura see the club, and fossets, as a nice fit with their other sporting and media businesses - so whilst the club may be loss making, and potentially remain so, if it can increase the value/income at their other businesses then it becomes a loss leader and the losses can be sustained by increased income elsewhere. I think they, and also the Carl bid, was aiming to sweat the FF stadium somewhat.

 

[The Clairvoyant]

Would Ron still be able to put us into administration? Obviously catastrophic for this season, but is it a possible way out?

This is the most important message on the thread to date . Administration is hugely helpful for the 3rd horse who as I have said has not got a lot of cash to splash . We are trading whilst insolvent so the directors should be taking this action. Also, other horses may then step forward and become engaged . Never mind the season - priority is to save the club.

 

[Firestorm]

Just a thought regarding DD and the sale price , what would happen if the sale agreement was based on a price ,say X, and an undertaking to clear the debt , Y. The sale price is agreed and dd uncovers that the debt to be cleared is greater than Y ?

Would the options for the potential buyer be ?
Re negotiate the sale price or the new debt figure
Swallow the increased debt figure ?
Refuse to settle the increased debt figure and stick to Y
Walk

If this was Dragons den there would be a chorus of I'm out.....

Only a thought based on a twitter comment a few days ago about another debt found .

 

[borientater]

Just a thought regarding DD and the sale price , what would happen if the sale agreement was based on a price ,say X, and an undertaking to clear the debt , Y. The sale price is agreed and dd uncovers that the debt to be cleared is greater than Y ?

Would the options for the potential buyer be ?
Re negotiate the sale price or the new debt figure
Swallow the increased debt figure ?
Refuse to settle the increased debt figure and stick to Y
Walk

If this was Dragons den there would be a chorus of I'm out.....

Only a thought based on a twitter comment a few days ago about another debt found .

I would think this is exactly the case plus the rent etc of roots hall until new stadium built

 

[defender05]

Only a thought based on a twitter comment a few days ago about another debt found .

If there is any other Debts that don't relate to the last year then the Independent Auditors that signed the accounts off didn't do their job properly and could get in trouble for it.