SUFC: The Future SUFC up for sale

[Napster]

My source says the line that the club is/was for sale for £1 is bollocks.

 

[Richard Hearn]

The

You can view everyone on here

Here's what I just found on pomanda.com - southend-united-football-club-limited(the)

Southend United Football Club Limited(the) is a live company located in AL1 3RD with a company number 00089767. View Southend United Football Club Limited(the)’s address, directors, shareholders, financials and filings.

pomanda.com

There I am, page 13 with 0.02%.
I've got even more shares than Frank van Wesel.
I must be doing well.

 

[londonblue]

Buying the 30% would be a very difficult task. It was something explored when Stan first got involved I think? Some of the shares are stuck with executors and finding all of these shareholders would be a real pain.

I do think that it does happen with PLCs sometimes, i.e. that a company buys, says 75% of the shares and are then legally allowed to buy the rest. I'm not sure a) if that is correct, b) of that is applicated to Ltd companies and c) how they go about it.

 

[CRATE]

Any fans free today to give there opinions of what the current situation is doing to them and how it’s making them feel?

I’m recording an interview with someone and would like to show the person how some are feeling. Can be done via zoom.

 

[Maldon Blues]

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.

Sometimes memory fails me, but I'm sure I've read previously (some time ago) that Barry Fry was quoted as saying he advised Jobson to invest the Collymore money in buying the training ground, but he didn't do so.

 

[basilrobbie]

I re-read that statement this morning, and it is quite revealing (if a terrible effort). Quite short, but nearly twenty mentions of the words "I", "me" and "my". A psychologist would have a field day with it.

Obviously, the NL will have their say today, and I have no idea what they will do. Assuming they don't force the issue with an expulsion, it does beg the question what more you can do.

The following are worth thinking about :

• lobby DCMS. if they are thinking about a shadow regulator any time soon, ask them to get it to do some digging and put pressure on the club to cooperate with it.
• lobby the FA to liaise with the NL about the fit and proper person issues and how RM's conduct measures up
• talk to the council about making Rootes Hall an asset of community value. Somewhat symbolic, but it will irritate RM and hamstring him a bit

Basically I am saying you should make his life a misery, even if no knockout blows are involved. And there is always boycotting, protesting, the football media etc. to fall back on.

Good luck.

 

[Jmayhew32]

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.

****ing brilliant post

 

[Maldon Blues]

The

There I am, page 13 with 0.02%.
I've got even more shares than Frank van Wesel.
I must be doing well.

I have 0.07% which was a higher percentage that I thought!

We both actually have more share than Ron in name. There are none is in name. The majority are with South Eastern Leisure rather than actually in Ron's name.

 

[kentblues]

People in KIMURA (Employees and C Suite) have been leaking stuff to people on this forum for weeks. But again that just becomes “another ITK posters bit of info”.

I would suggest, something has to happen publicly or this just drags and drags and drags! Until we die!

There been plenty coming through sources in the club as well - so I don’t think it’s one side or the other.

 

[kentblues]

It doesn't make it more attractive though. The only thing that matters is those 70%. Buying 30% doesn't get you anything other than a seat at the AGM.

Those shares have little value in themselves but what I would like to see down the road is for them to be consolidated in the ST name (e.g. by donation) and ST to hold a seat on the board

 

[C'mon you Shrimpers]

The point about being paid twice is a very good one.
Ron paid circa £4m (I think) for everything back when he acquired the stadium and club (and debts).
Developing Roots Hall has always been the aim, and the football club enables this.
The two developments, RH and FF, once completed, generate significant profit which pay for the stadium.
How good would it be would be that the stadium becomes a trust owned asset (gifted), which could be leased for a nominal value to new club owners, who get to use the full site for income generation, with responsibility for upkeep?
Question is, why isn’t it that simple, and does Ron get enough payback from everything else?

I was thinking this the other day. The FF complex in a trust managed by fans (Shrimpers Trust) and not any fly by night owner. Christ if Ron did that we'd not know what to think of him. He could include the training ground as well. Go on Ron, you know it makes sense. If you want a legacy then here it is

 

[Boreham Shrimper]

My source says the line that the club is/was for sale for £1 is bollocks.

Well knock me down with a feather

 

[kentblues]

Sometimes memory fails me, but I'm sure I've read previously (some time ago) that Barry Fry was quoted as saying he advised Jobson to invest the Collymore money in buying the training ground, but he didn't do so.

It paid for the South Stand didn’t it?

 

[kentblues]

Matt Slater has it spot on here. It’s the reality. There is one game in town and that requires Ron to back down re the FF stadium element.
No serious buyer with the necessary financial backing will buy club without stadium whether it’s £1 or even 1p.
Kimura are still there, Ron needs now to accept reality and get it done.
All the rest is just noise..

https://twitter.com/x/status/1679210074185641984

“The real Southend Utd story is we're in Bury territory. Our licence to play is conditional. We're in breach. The NL wants to help but can't risk another 23-team season. And the rest of the league can't stand us. We've got 2-3 weeks to convince the NL to let us play. Sell up. Now.”

 

[hlane17]

Any fans free today to give there opinions of what the current situation is doing to them and how it’s making them feel?

I’m recording an interview with someone and would like to show the person how some are feeling. Can be done via zoom.

Can speak with you this afternoon any time after 2pm

 

[Paulie Walnuts]

Matt Slater has it spot on here. It’s the reality. There is one game in town and that requires Ron to back down re the FF stadium element.
No serious buyer with the necessary financial backing will buy club without stadium whether it’s £1 or even 1p.
Kimura are still there, Ron needs now to accept reality and get it done.
All the rest is just noise..

https://twitter.com/x/status/1679210074185641984

“The real Southend Utd story is we're in Bury territory. Our licence to play is conditional. We're in breach. The NL wants to help but can't risk another 23-team season. And the rest of the league can't stand us. We've got 2-3 weeks to convince the NL to let us play. Sell up. Now.”

I wouldn't say the rest of the league can't stand us, especially when on many occasions we have doubled their normal attendances giving them a much needed financial boost.

As we know with this current pr1ck in charge everything comes to down money for these people.

 

[Mad Cyril]

Sometimes memory fails me, but I'm sure I've read previously (some time ago) that Barry Fry was quoted as saying he advised Jobson to invest the Collymore money in buying the training ground, but he didn't do so.

It would have been shrewder business than spending £350k on Gary Poole

 

[C'mon you Shrimpers]

It paid for the South Stand didn’t it?

Jobson did buy B&L though (access sports ground). A good day's business.

 

[Medway Blue]

It paid for the South Stand didn’t it?

That was paid for by the housing development behind it, wasn't it?

 

[CRATE]

Can speak with you this afternoon any time after 2pm

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