I don't think that is strictly true, he is selling it mainly because he has run out of money or borrowing facilities, hence the club failing at every hurdle atm.
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SUFC: The Future SUFC up for sale
- Thread starter Maidstone Shrimper
- Start date
Our hopes and visions for the rebirth of Southend United, plus any plans published by the consortium for discussion
- Status
Floval Flyer
Licensed to ill⭐
I thought B&L was purchased with the Stan transfer money? So, owned by the club (SUFC). Not one of RMs web of companies*.
*that said all of the clubs assets were transferred, in exchange for his personal debt over the years.
That only comes to around 85% so there are some names and % ownership missing from the list
Shrimp and two veg
Youth Team
Ron has to sell, property prices heading down, interest rates going upppidity uppy. He needs FF built if you ask me, sharpish. Or flog the planning for it for a ridiculous sum.
If i was Kimura i'd be holding out, cant blame them, the club's demise is on Ron for his unreasonable demands
If i was Kimura i'd be holding out, cant blame them, the club's demise is on Ron for his unreasonable demands
That may or may not be true (i co not know so cannot comment) but thats different than coming out with an outright statement
Floval Flyer
Licensed to ill⭐
I 2nd that !! (Expecting a deal done before lunchtime)
Beefy
Life President
Unfortunately their main interest will be protecting the National League from the destructive impact of Southend United and its Chairman.
CRATE
Striker
An NDA is an NDA. It’s either been breached or it hasn’t. No matter what or who you’ve told.
Mad Cyril
The Fresh Prince of Belfairs⭐⭐🦐
There are many, many small shareholders
I do not disagree, but if one party leaks info and doesn't out rightly come out and say it them selves then without o proof of the breach they have done nothing wrong. So business wise Kimura wont breach the NDA by publicly making a comment under their own name
Shame they do not all get together and approach Kimura or any potential buyer and says would you like our shares
The overall problem, as I see it, is not actually the sale of the club but the deal for the new stadium which Ron conveniently failed to mention at all in his statement, despite the fact that he has said many times previously (as a way of justifying the building of it) that the club is not viable without a new stadium.
I also assume that so many homes are needed as enabling development to pay for the stadium, so presumably these either need to be included as part of the stadium deal or, if Ron keeps the profit on these, the price of the stadium needs to be reduced accordingly (otherwise he’s being paid twice).
We don’t know if what he’s asking for the stadium is unreasonably high or if what Kimura is offering to pay is unreasonably low.
We just have to hope that there will be a compromise on this, otherwise the club will die.
I also assume that so many homes are needed as enabling development to pay for the stadium, so presumably these either need to be included as part of the stadium deal or, if Ron keeps the profit on these, the price of the stadium needs to be reduced accordingly (otherwise he’s being paid twice).
We don’t know if what he’s asking for the stadium is unreasonably high or if what Kimura is offering to pay is unreasonably low.
We just have to hope that there will be a compromise on this, otherwise the club will die.
JD
Resident Jinx⭐
Would make no difference whatsoever - it still adds up to a minority shareholding which has zero power at Ron’s table.
Linda Loan Shark
Striker
Where are the fans ownership?
Sleaford Shrimper
Grumpy Old Man
If the political will was there, Southend Council could, in theory, try to slap a Compulsory Purchase Order on Roots Hall on the grounds that it is "in the community interest" for there to continue to be a professional football club in the city. It could then recoup the cost of the CPO by re-selling or leasing Roots Hall to new, competent owners of Southend United Football Club. It would ensure a means of survival for the Club and derail Ron's money-making plans.
Sadly, I don't see that political will, so it's never going to happen.
fbm
Blue tinted optimist⭐🦐
I know this is going to make me probably unpopular and Christ knows how many messages I am going to come back to later (currently in Italy, travelling home today, won't be back until tonight and frankly am not overly looking forward to seeing the NL decision today) BUT...
My usual optimistic self says to me that we are still unaware of something, otherwise none of this makes sense.
In court yesterday Ron was clearly relaxed and unrepresented. There was no grilling or uncomfortable interrogation by the judge, it was all too much of a formality, as though it had been previously agreed that that's what would happen.
Was that the case possibly? Ron seemed to know EXACTLY what needed to be done to demonstrate the circumstances to get an adjournment, so much so that it was granted before he even had to justify himself.
Now, as I said a few days ago, there is absolutely no purpose in getting an adjournment if within a day or two the club is expelled from the NL or if we are so strapped under the embargo that all the players (who can) leave. This means there is nothing of value left to sell; he needs to retain the value of the team, which vests in the players and management.
Whilst Ron has been silent as far as communication with us goes (which he said he would be in the press conference... shock, horror, he told the truth there!) he will not have been sitting on his hands this whole time. He will be doing whatever he can to protect HIS interests. If he thought there was a coin toss of a chance of all this going under he is not going to take the action he actually took. We all know he only works to a deadline. It was the 11th hour when he managed to get the accountant paid so the accounts can be lodged with NL to avoid a sanction... it was the last minute before the fine was paid to the FA so we can play in the cup competitions this year... again, none of this makes sense if the club stands a evens chance of going under.
So I am hoping and praying that there is a course of action he has got up his sleeve where he can get the embargo lifted almost immediately so that we can retain people like Jack Bridge, stop the management team walking and sign players that are going to help us this season. I don't know how or even if that's possible but as I say, to me, unless it is, then none of this makes sense. I'd maybe feel different if he was one of these owners who had come good playing Poker, but he isn't. He doesn't strike me as a gambler.
And now the unpopular bit... I cannot believe the number of comments on here relating to sudden revelations and realisations people have made... he only owns 70% of the shares.... it's not a club that's being sold, it's shares in a company that owns a club... and I'm so sorry, this is not aimed at anyone and I know it is complex, but if you do not understand the actual processes or legalities regarding the different legal entities in play here, then any comment you make or any thought you have is likely to be incorrect. None of us are in possession of proper information about this, but we are all back room lawyers suddenly when we think we know what needs to be done. A case in point... a few messages above this one is a copy of a tweet from Simon Cox, a highly respected ex player who has our club and interests at heart. A great guy. But he says that it's high time the courts made the right decision and tell RM to sell up or pay up immediately.
Well someone needs to bring that type of action against him then! Our court appearances relate to winding up orders for unpaid bills. Each one is taken in isolation and the court will only have jurisdiction over whether the bill is paid or not. It can only dismiss, adjourn, or wind up. That's why so many hearings are listed together... they take minutes and there isn't time to listen to evidence from both sides over whether or not a sale should take place or not But think about it. You can't force a sale because that means you have to force someone to buy. How long do you give someone to buy a company? 7 days? 7 weeks? 7 months? And with a deadline set by a court, what's the value of the company as it approaches the deadline? Zero. There's no incentive for anyone to buy early and it's all loaded against the seller. Unworkable, unfair and impossible.
So what if someone does try to force a sale, who would that be? A shareholder who is owed money possibly and who wants out... but they wouldn't care where that money came from and even then, who sets the value? To all the fans who are shareholders, how much are your shares worth? Diddly squat, that's how much, because there's a limited market to buy. Essentially it's only to any other shareholder as the shares aren't quoted on a market anywhere. How much would you pay to buy another fan's shares? Nothing.
The only buyer would be Ron, and how much would he offer? Again, nothing. They are untradeable.
So in short, no judge is going to (or even can) force RM to sell.
That's not to say there isn't any action that CAN be brought against Ron because of what he has done over the last few years, but I have no idea on what they might be and who could possibly do that anyway. I just know it's not me so I'm not going to waste my time and energy thinking about it.
And to those people who wanted the judge to wind us up or who want the NL to expel us, then shame on you. I understand the pain and suffering that narcissist has put us through but I do not want the club I have supported for nearly 54 years to be killed off to teach one man a lesson. Ron is 70, he will be dead one day but hopefully the club will live on. I'm 62 next week and I don't want to spend the rest of my life watching a phoenix club in the lower levels of the football pyramid thank you very much.
One final point which may help those whose mental health is suffering... when it comes to Ron, he doesn't care about you, me or anyone. He is willing to confront a stand full of fans at Solihull. Look at the video from the other night... he's there, in a power stance, square on to the crowd of I don't know how many... but does he look fazed? Bothered? He doesn't give a toss.
But I would suggest listening to what he actually says rather than what you think he has said and you'll find he tells the truth more often than you imagine. He's a nasty, slimy businessman who doesn't care who he walks over to get what he wants. Property developers are like that. I was told once by one (a very minor developer) that almost every developer has been bankrupt or nearly bankrupt at least once and it is out of that adversity that this mentality develops... a need to protect what you have and maximise returns at anyone else's expense because that's what they would do to you. It is ultimate self preservation.
To me, Ron is irrelevant. I cannot affect what he does or the outcome. I want him gone and it looks like we have 42 days left, at best. Or 2 if the NL go hardline.
But personally, I hope and pray that they don't and I am clinging to the fact that Ron knows what he is doing because of that overwhelming need for self preservation. Because he is a narcissist, that will be the most important thing in his mind.
My usual optimistic self says to me that we are still unaware of something, otherwise none of this makes sense.
In court yesterday Ron was clearly relaxed and unrepresented. There was no grilling or uncomfortable interrogation by the judge, it was all too much of a formality, as though it had been previously agreed that that's what would happen.
Was that the case possibly? Ron seemed to know EXACTLY what needed to be done to demonstrate the circumstances to get an adjournment, so much so that it was granted before he even had to justify himself.
Now, as I said a few days ago, there is absolutely no purpose in getting an adjournment if within a day or two the club is expelled from the NL or if we are so strapped under the embargo that all the players (who can) leave. This means there is nothing of value left to sell; he needs to retain the value of the team, which vests in the players and management.
Whilst Ron has been silent as far as communication with us goes (which he said he would be in the press conference... shock, horror, he told the truth there!) he will not have been sitting on his hands this whole time. He will be doing whatever he can to protect HIS interests. If he thought there was a coin toss of a chance of all this going under he is not going to take the action he actually took. We all know he only works to a deadline. It was the 11th hour when he managed to get the accountant paid so the accounts can be lodged with NL to avoid a sanction... it was the last minute before the fine was paid to the FA so we can play in the cup competitions this year... again, none of this makes sense if the club stands a evens chance of going under.
So I am hoping and praying that there is a course of action he has got up his sleeve where he can get the embargo lifted almost immediately so that we can retain people like Jack Bridge, stop the management team walking and sign players that are going to help us this season. I don't know how or even if that's possible but as I say, to me, unless it is, then none of this makes sense. I'd maybe feel different if he was one of these owners who had come good playing Poker, but he isn't. He doesn't strike me as a gambler.
And now the unpopular bit... I cannot believe the number of comments on here relating to sudden revelations and realisations people have made... he only owns 70% of the shares.... it's not a club that's being sold, it's shares in a company that owns a club... and I'm so sorry, this is not aimed at anyone and I know it is complex, but if you do not understand the actual processes or legalities regarding the different legal entities in play here, then any comment you make or any thought you have is likely to be incorrect. None of us are in possession of proper information about this, but we are all back room lawyers suddenly when we think we know what needs to be done. A case in point... a few messages above this one is a copy of a tweet from Simon Cox, a highly respected ex player who has our club and interests at heart. A great guy. But he says that it's high time the courts made the right decision and tell RM to sell up or pay up immediately.
Well someone needs to bring that type of action against him then! Our court appearances relate to winding up orders for unpaid bills. Each one is taken in isolation and the court will only have jurisdiction over whether the bill is paid or not. It can only dismiss, adjourn, or wind up. That's why so many hearings are listed together... they take minutes and there isn't time to listen to evidence from both sides over whether or not a sale should take place or not But think about it. You can't force a sale because that means you have to force someone to buy. How long do you give someone to buy a company? 7 days? 7 weeks? 7 months? And with a deadline set by a court, what's the value of the company as it approaches the deadline? Zero. There's no incentive for anyone to buy early and it's all loaded against the seller. Unworkable, unfair and impossible.
So what if someone does try to force a sale, who would that be? A shareholder who is owed money possibly and who wants out... but they wouldn't care where that money came from and even then, who sets the value? To all the fans who are shareholders, how much are your shares worth? Diddly squat, that's how much, because there's a limited market to buy. Essentially it's only to any other shareholder as the shares aren't quoted on a market anywhere. How much would you pay to buy another fan's shares? Nothing.
The only buyer would be Ron, and how much would he offer? Again, nothing. They are untradeable.
So in short, no judge is going to (or even can) force RM to sell.
That's not to say there isn't any action that CAN be brought against Ron because of what he has done over the last few years, but I have no idea on what they might be and who could possibly do that anyway. I just know it's not me so I'm not going to waste my time and energy thinking about it.
And to those people who wanted the judge to wind us up or who want the NL to expel us, then shame on you. I understand the pain and suffering that narcissist has put us through but I do not want the club I have supported for nearly 54 years to be killed off to teach one man a lesson. Ron is 70, he will be dead one day but hopefully the club will live on. I'm 62 next week and I don't want to spend the rest of my life watching a phoenix club in the lower levels of the football pyramid thank you very much.
One final point which may help those whose mental health is suffering... when it comes to Ron, he doesn't care about you, me or anyone. He is willing to confront a stand full of fans at Solihull. Look at the video from the other night... he's there, in a power stance, square on to the crowd of I don't know how many... but does he look fazed? Bothered? He doesn't give a toss.
But I would suggest listening to what he actually says rather than what you think he has said and you'll find he tells the truth more often than you imagine. He's a nasty, slimy businessman who doesn't care who he walks over to get what he wants. Property developers are like that. I was told once by one (a very minor developer) that almost every developer has been bankrupt or nearly bankrupt at least once and it is out of that adversity that this mentality develops... a need to protect what you have and maximise returns at anyone else's expense because that's what they would do to you. It is ultimate self preservation.
To me, Ron is irrelevant. I cannot affect what he does or the outcome. I want him gone and it looks like we have 42 days left, at best. Or 2 if the NL go hardline.
But personally, I hope and pray that they don't and I am clinging to the fact that Ron knows what he is doing because of that overwhelming need for self preservation. Because he is a narcissist, that will be the most important thing in his mind.
annie1954
Newbie⭐🦐
bar ??- Status
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