SUFC: The Future SUFC up for sale

[CanveyCastle]

All these questions, we have to wait and see.

 

[CanveyCastle]

I know the group is male top heavy so had to read that twice

Wayne Kerr will be the new CEO.

 

[Liam AAS]

It seems that’s what they have said - by the 12th or we walk. I haven’t heard that directly but the Echo and others are reliable enough for me. Probably ahead of the court hearing so that Ron can’t use Kimura’s proof of funds (again) or any ‘takeover is close’ guff to the Judge. He’s naked in there and going down quicker than Murphy in the box.

This, coupled with his obligations to the NL and his various creditors across group companies mean he must surely accept the offer.

 

[Special Blue]

Wayne Kerr will be the new CEO.

I thought we were hoping to get rid of him!

 

[Holy Joe]

Ron needs to reduce the capacity to 16k and pack the main stand with flats in order to make the FF scheme financially viable. That tells us that the FF scheme is only marginally profitable. And that was when interest rates were near zero and property values sky high. If it was only marginally profitable then, how on earth can the scheme be financially viable with 5% interest rates and falling property values?.

He's not selling most of the properties - they're being leased to Southend council. It's possible financing for the scheme has already been agreed - the recent Southend council press release mentions no public money going into the build and that a pension fund is financing it. So hopefully the scheme is still alive - but if he hasn't locked in the finance cost, then yes the economics may have shifted - would be a colossal error given that it happened to him back in 2008/09 as well!

 

[Leeboy]

Just rebranded to WakeringZone?

Hullbridge Zone? Canvey Zone? Southend Manor Zone?

 

[Spaceman Spiff]

We’ve unofficially been TwilightZone for years. I guess we’ll just make it official.

 

[fbm]

It’ll depend on the evidence presented to the judge, even if we do the NL may still deduct points or kick us out

At this moment I'd take a points deduction

 

[Liam AAS]

At this moment I'd take a points deduction

Even a points deduction would drastically reduce the sale value. Mad as it seems, if the takeover goes through we can still achieve promotion this year:

• No clear favourites
• No proper transfer window
• Renewed reputation in football industry with other clubs, players & agents
• Transfer budget
• Highly motivated and determined players that stick together.

A points deduction effectively removes this possibility.

 

[Sudbury_Shrimpers]

Does anyone know if we would get another adjournment

If we do, we get thrown out by National League, either we drop into Isthmian League or Essex Senior League next season.

 

[Thundersley Blue]

Kimura need to be extra careful and diligent with regards to the Stadium, both old and new. Just been reading an article in the Non League Paper about Scunthorpe. The previous Chairman has indicated that he is preparing to evict the Club from their ground. Peter Swann the ex Chairman still owns the Glanford Park and is leased to the new buyers . The issue concerning the ground was not resolved at the time of the takeover and by the looks of things still hasn't.

 

[Liam AAS]

Kimura need to be extra careful and diligent with regards to the Stadium, both old and new. Just been reading an article in the Non League Paper about Scunthorpe. The previous Chairman has indicated that he is preparing to evict the Club from their ground. Peter Swann the ex Chairman still owns the Glanford Park and is leased to the new buyers . The issue concerning the ground was not resolved at the time of the takeover and by the looks of things still hasn't.

If they weren't being careful, this would have been done by now. The whole club needs turning upside down. TL tried to do things with an internal audit but hasn't been able to make effective changes because Ron stopped paying for things.

Ron is poison but Kimura might be the antidote.

 

[Napster]

I can say that Kimura have the advantage - Ron is desperate to sell.

 

[Jasrod]

Ron needs to reduce the capacity to 16k and pack the main stand with flats in order to make the FF scheme financially viable. That tells us that the FF scheme is only marginally profitable. And that was when interest rates were near zero and property values sky high. If it was only marginally profitable then, how on earth can the scheme be financially viable with 5% interest rates and falling property values?.

So that being the case he can’t really afford to do either so pass it onto someone who can

 

[Smiffy]

I can say that Kimura have the advantage - Ron is desperate to sell.

Yep. Despite what one or two say, he is now a distressed seller. He has no money, he cannot raise any and he has the added pressure of the club going out of business and/or kicked out of the NL on top, should he fail to take the deal on the table by Wednesday.

Fold now Ron and stop this nonsense. Your narcissistic game has run its course.

 

[Liam AAS]

Ron needs to reduce the capacity to 16k and pack the main stand with flats in order to make the FF scheme financially viable. That tells us that the FF scheme is only marginally profitable. And that was when interest rates were near zero and property values sky high. If it was only marginally profitable then, how on earth can the scheme be financially viable with 5% interest rates and falling property values?.

Both housing schemes (approx. 1200 dwellings selling at £250k per unit) are likely to gross £300m. He does not need additional housing in the stadium.

He has borrowed a lot of money to fund this scheme but this is <10% of the total value.

 

[West Stand]

The comment from the NL is more than a concern.

Its got to be remembered that the HMRC debt is almost certainly greater than the sum that was included in the WUO as VAT and PAYE has continued to accumulated ant that additional debt is highly unlikely to be included in any TTP.

 

[fbm]

So some crumbs of comfort (for me) as we are heading towards the deadline.

The players and managers/coaches are still there... it was a surprise to us all that the latter group hadn't been paid, but they know and are still here, which means they want to be (for whatever reason)

Ron has always said he won't let the club die

We are still 2 full days away from d-day and he knows what would happen if we were wound up

Everyone will have been taking advice from all and sundry... it may appear that nothing is going on but I'll bet everyone is very busy behind the scenes

Same with HMRC and the NL... they I am sure will have been kept up to date and asked hypothetical questions

It's definitely a time for holding one's nerve

 

[Callumturner22]

Ron can’t afford to keep it so best way for Ron is to sell it he can’t raise sod all funds and doesn’t have any as it is .

But as long as kimura are careful and check through everything as you can’t trust the ******* for sure . Get these new owners in so I can renew me season ticket finally fed up of waiting now .

 

[Liam AAS]

So some crumbs of comfort (for me) as we are heading towards the deadline.

The players and managers/coaches are still there... it was a surprise to us all that the latter group hadn't been paid, but they know and are still here, which means they want to be (for whatever reason)

Ron has always said he won't let the club die

We are still 2 full days away from d-day and he knows what would happen if we were wound up

Everyone will have been taking advice from all and sundry... it may appear that nothing is going on but I'll bet everyone is very busy behind the scenes

Same with HMRC and the NL... they I am sure will have been kept up to date and asked hypothetical questions

It's definitely a time for holding one's nerve

Ron has more to lose than Kimura if this collapses and everyone knows it.