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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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Is he suggesting the price is £1 excluding ANY debt owed to him but with all other debts outstanding OR is it £1 with some debt still attributable to him and all other debt outstanding. Because there is a vast difference between the two.
 
Texas Eslan said:
Is he suggesting the price is £1 excluding ANY debt owed to him but with all other debts outstanding OR is it £1 with some debt still attributable to him and all other debt outstanding. Because there is a vast difference between the two.
Click to expand...
I am pretty sure you be taking on the balance sheet, minus the debt owed to “Ron”. So everything else that Ron has decided not to pay will be yours to sort out.
 
JD said:
I am pretty sure you be taking on the balance sheet, minus the debt owed to “Ron”. So everything else that Ron has decided not to pay will be yours to sort out.
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Which if you really look it at it in a different perspective, is not a bad deal by anymeans, the debt that needs to be paid is more than likely what a normal price of the club would look like (minus whats owed to Ron).
 
BluBayou said:
Balance sheet per latest accounts (31/07/21)

Creditors due within 1 year: £20.7M

of which £15.6M owed to group undertakings.

Allowing £1M for current assets, leaves £4M.
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Fair play - although Ron’s paid **** all since then, wouldn’t surprise me if it’s double that now!
 
BluBayou said:
Balance sheet per latest accounts (31/07/21)

Creditors due within 1 year: £20.7M

of which £15.6M owed to group undertakings.

Allowing £1M for current assets, leaves £4M.
Click to expand...
Plus maybe the 1.5 mill they found so add that on. Kimura probably agreed to the balance sheet until they found the hidden stuff and now want to dig deeper. Then they need running costs.
 
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