SUFC: The Future SUFC up for sale

[fbm]

I thought it was all football related debts to satisfy the NL.

Plus any others who have joined in with HMRC, which I think are 3 or 4 at least

 

[Petejames]

I thought it was all football related debts to satisfy the NL.

It is that’s just a small part of the total costs

 

[Tommy2holes]

Sorry, May have missed this in the 11,000+ messages..

How much is the debt that needs to be settled on Wednesday and is it just HMRC or the other firms like PG Skips who added to the list last time?

I guess we havet paid tax since so there would be another court date on the horizon?

Difficult so say. There was certainly 250k tax liability and will undoubtedly be more now.

Whether all of the other debts will be petitioned for is anybodies guess. Could end up being over 1 million quite easily.

One thing is for sure. If the club fail to pay the staff who are owed money then the national league will seriously be looking at throwing us out of the national league.

If that happens it would be far too late to join any other leagues and we would be in the same situation as Bury. A club without a team, potentially stadium and no league to play in. Like Bury, we would have to completely reform and start the following season in the 9th tier of football, probably ground sharing.

 

[SS9_Shrimper]

I thought it was all salary’s HMRC and other debts listed on the petition

Westcliff is correct.

As of the last hearing it was HMRC, PG, the energy company and one other unknown.

The NL conditions were that all footballing creditors be brought up to date, staff and all. When specifically their deadline was I don't think has actually been officially mentioned, but you would expect it to be a few days following the WUP hearing to get the ducks in a line.

 

[Leeboy]

Westcliff is correct.

As of the last hearing it was HMRC, PG, the energy company and one other unknown.

The NL conditions were that all footballing creditors be brought up to date, staff and all. When specifically their deadline was I don't think has actually been officially mentioned, but you would expect it to be a few days following the WUP hearing to get the ducks in a line.

pretty sure everything had to be paid on or by the 12th

 

[SS9_Shrimper]

pretty sure everything had to be paid on or by the 12th

On second look you are correct Lee, the statement from Blues says staff must be paid by this date too.

 

[Streaky]

Difficult so say. There was certainly 250k tax liability and will undoubtedly be more now.

Whether all of the other debts will be petitioned for is anybodies guess. Could end up being over 1 million quite easily.

One thing is for sure. If the club fail to pay the staff who are owed money then the national league will seriously be looking at throwing us out of the national league.

If that happens it would be far too late to join any other leagues and we would be in the same situation as Bury. A club without a team, potentially stadium and no league to play in. Like Bury, we would have to completely reform and start the following season in the 9th tier of football, probably ground sharing.

So it sounds like (£250k, PG Skips and wages and ??). So sounds like around £500k or so.

That’s going to be tough to find!

 

[Shrimper]

£250k for HMRC
Rumoured £1.5m found in DD
Other Creditors
Outstanding Staff

Given Ron couldn't even get £2m and sold land I don't see all the above being settled

 

[Smiffy]

So it sounds like (£250k, PG Skips and wages and ??). So sounds like around £500k or so.

That’s going to be tough to find!

It's a lot more than that mate (I believe of course) well into seven figures.

 

[Mad Cyril]

Ron is running out of time and chances. He knows there’s more potential debtors coming out of the woodwork and he needs to sell now

 

[Leeboy]

On second look you are correct Lee, the statement from Blues says staff must be paid by this date too.

no worries fella - just had to check myself on the OS

On 12th July 2023, the winding up petition will be back before the Court. In advance of that date, the Club must pay the petition debt (due to HMRC) and the debt of those supporting the petition, we also need to bring staff salaries up to date.

'In advance of that date' Ron....Ron? Hello?

 

[Smiffy]

no worries fell - just had to check myself on the OS

On 12th July 2023, the winding up petition will be back before the Court. In advance of that date, the Club must pay the petition debt (due to HMRC) and the debt of those supporting the petition, we also need to bring staff salaries up to date.

'In advance of that date' Ron....Ron? Hello?

This is early doors for him.

23:59 tomorrow is more his style. Not that he has the wonga anyway.

 

[Yorkshire Blue]

It's a lot more than that mate (I believe of course) well into seven figures.

For HMRC and the others in the winding up petition?

 

[TrevorFitzpatrickHattrick]

Ron's going all-in here with an completely pony hand and Kimura absolutely know this. He's always been a blagger, but this time he's dealing with some seasoned individuals that won't simply roll over and let him have his own way.

In any normal circumstance, this deal would've been concluded weeks ago, but instead he's gambling with a community asset that's 117 years old for an additional return that's peanuts in the grand scheme of the overall development.

He's tried all the underhand tactics; sowing disinformation, placating emails to fans, returning to previous interested parties last-minute in order to try and drag them to the table. It's just insanity to keep hold of an asset that's caused you mortgage everything to the hilt and still haemorrhage cash when there's a viable option there that just requires some reasonable concessions.

There's a small shred of me that thinks common sense will prevail, but most of me thinks that Martin still believes he can beat HMRC, circumnavigate the National League and continue to take advantage of the good-will of the incredible staff throughout Southend United FC. I really can't believe we've got to this juncture.

 

[Smiffy]

For HMRC and the others in the winding up petition?

....plus wages, which also need to be settled by Wednesday.

 

[lombard]

Wolfy is not Jack Martin, unless Jack Martin was a fan of the club long before his father got involved - his knowledge of early 90s players is too good - and unless his politics is very different to his father’s.

Now Wolfy’s main source may well be Jack Martin.

But the stuff about Caymans and about conflicts of interest with the agents are questions I have about Kimura and I have no inside source and came up with them independently. You don’t need to be Ron’s son to wonder how would a Sports Agency with professional footballers on their books work with a controlling stake in the club or wonder where they money is coming from when the UK entity doesn’t have it. These are the type of basic stuff that anyone with experience of buying and selling companies would be familiar with. And just because there are questions it doesn’t mean there aren’t satisfactory answers. But you have to ask questions in order to get those satisfactory answers. There’s still lots we don’t know about Kimura. It may all be fine (and I hope it is) but people are currently guessing that Kimura are rather than knowing they are. They are taking things on trust, assuming because Ron is bad Kimura must be good but life doesn’t necessarily work that way. Kimura might be good and I hope they are but it doesn’t hurt to keep an open mind and ask a few questions.

Total rubbish.

 

[class]

I may be wrong, but the £1.5m debt won't have to be paid by Wednesday as it is not a petitioned debt.

 

[SUFC2008]

Wolfy is not Jack Martin, unless Jack Martin was a fan of the club long before his father got involved - his knowledge of early 90s players is too good - and unless his politics is very different to his father’s.

Now Wolfy’s main source may well be Jack Martin.

But the stuff about Caymans and about conflicts of interest with the agents are questions I have about Kimura and I have no inside source and came up with them independently. You don’t need to be Ron’s son to wonder how would a Sports Agency with professional footballers on their books work with a controlling stake in the club or wonder where they money is coming from when the UK entity doesn’t have it. These are the type of basic stuff that anyone with experience of buying and selling companies would be familiar with. And just because there are questions it doesn’t mean there aren’t satisfactory answers. But you have to ask questions in order to get those satisfactory answers. There’s still lots we don’t know about Kimura. It may all be fine (and I hope it is) but people are currently guessing that Kimura are rather than knowing they are. They are taking things on trust, assuming because Ron is bad Kimura must be good but life doesn’t necessarily work that way. Kimura might be good and I hope they are but it doesn’t hurt to keep an open mind and ask a few questions.

The reason we are excited about the prospect of new owners, no matter what/how much we know about them is because we have had to put up with Ron Martin and his **** for 25 years.

 

[Danshrimper]

£250k for HMRC
Rumoured £1.5m found in DD
Other Creditors
Outstanding Staff

Given Ron couldn't even get £2m and sold land I don't see all the above being settled

Don’t think there’s been any indication as to what this relates to or when it would need to be settled.

Presumably it’s nothing to do with the winding up petition, as you’d assume Kimura would know about that. So it won’t need to be settled Wednesday.

If the £1.5m isn’t related to ‘football creditors’ then it won’t necessarily need to be settled by the NL deadline either.

 

[Leeboy]

This is early doors for him.

23:59 tomorrow is more his style. Not that he has the wonga anyway.

it's fine he'll just sell some land...............