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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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henry18 said:
They have the money trust me
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You have a track record of having excellent inside info and I respect that but I’m struggling to see how you (and your sources) can definitively say they have the money.

Their UK entity doesn’t have much cash in their latest accounts. Their money is likely in their Cayman Islands entity (the sort of complicated corporate structure that many were upset that Ron uses) for which i haven’t been able to find accounts.

I believe they provided proof of funding before the last court hearing but money that was in their account a couple of months ago isn’t necessarily there now, backers they had then aren’t necessarily on board now.

To be clear I’m not saying that they don’t have the money. I’m just saying we couldn’t possibly know one way or the other. If someone has found their accounts online feel free to post them up.

Just because someone appears to be loaded doesn’t mean they are. For all we know their houses on Benfleet Road may be mortgaged up to the eyeballs, the Bentleys they drive could be leased and behind on the payments, their purchases all on a credit card etc.

We know next to nothing about Kimura. They may be great, they seem to have exciting plans but twenty five years ago Ron had exciting plans to deliver a state of the art stadium.

After several months we still know next to nothing about Kimura.
 
Cricko said:
The interest payments alone on RM's borrowings are staggering, where does that money come from?
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I suspect he's relied on increasing land values to generate cashflow to service (and increase) debt. Interest rates have been very low for what, 15 years, and land has been increasing in value, perfect conditions for that strategy. Those conditions are now over, as he needs to refinance the debt he may find it more difficult
 
TITSUP said:
Ron seemed very happy at a Trust/Club meeting many years ago. It seemed that he had just got planning permission for 420 houses on land that he owned outside Gloucester.
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You do wonder how much land he owned that he’s had to flog over the years.
 
Smiffy said:
https://twitter.com/x/status/1678049138062098433

Absolutely frightening.

“The situation is being closely followed by the National League and it is understood the Shrimpers must pay off all debts to football creditors, which includes their own staff, if they are to remain in the fifth tier of English football next season.”
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RM will try for another stay of execution at the courts on Wednesday if this deal with Kimura has not been sorted. He is playing with fire, there are no other parties that will step in. He does not have the money to pay anything, it is **** or bust time for us all.
 
“However, Kimura’s deal is believed to only be on the table until Wednesday when the Shrimpers are back in court following a winding up petition from HMRC.”

Are any ITK’s able to confirm whether or not this is true?
 
The Clairvoyant said:
No , you are only right in part of what you say , The whole idea is not to stop Fossetts but to change Fossetts so that it can actually get built after 20 odd years of frustration for everyone .Obviously , I want SUFC to survive and grow as a club but I don't like the way Ron runs the cub and new ownership is now required . But the new owner has got to build the new stadium because if we leave it to Ron we are not in any better situation because it still won't get built unless the plan is changed . Also Ron is spending so much on the stadium that there won't be any cash left over for the '' state of the art training centre '' which is vital if we want to have a successful football team.; Sports and social facilities for the community are also important. I do not live anywhere near the development .
'
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Sorry, I don't believe you. You keep saying 'we', but you were certainly not 'we' as your old account. You pretended to be, but then it came out. You were against Fossetts. Ron this, Ron that, we can all agree. I suspect just as before with your old account, you have ulterior motives and you are not being straight up.
 
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