SUFC: The Future SUFC up for sale

[Userorange]

She wants the council to fund the remedial work not ignore the defects

We are lucky Local Government is awash with spare cash at the moment.

 

[Holy Joe]

That is a massive commitment - particularly for a Council who have consistently shown that they don't really care about the Football Club's existence either way.

No amount of money was mentioned, she reckoned it was a small problem. And the council should step up to protect a community asset.

 

[fredheim_holm]

Whilst I am inclined to agree, I think the purpose of this discussion is more to allay any myths that people have subscribed to re. the RH v FF consideration.
Furthermore, it is providing some potentially useful information to the Trust in the event that they are able to reach out to the potential buyers and have these kind of honest and open discussions.
If the nature of the deal is structured such that RH is all that is on the table, then this is absolutely a relevant discussion (albeit with the aforementioned people, as opposed to on a forum).

This to me is what’s blindingly obvious and must happen if potential buyer(s) aren’t 100% set on FF.

Most fans would love us to stay at our spiritual home and we’ve got one of our own who can provide excellent guidance on the feasibility of it all. Those conversations really must happen.

 

[Napster]

https://twitter.com/x/status/1680986928571637762

In view of the speculation surrounding the sale, and future of the club, I agreed when talking with supporters on Saturday to set down the principal terms we could accept.

It may not be the legacy I wished for the club, but the club’s survival is of most importance. The interested parties have shared the view for a simple deal.

• The parent company will sell its entire shareholding in SUFC (70.6%) for £1.
• Roots Hall stadium £4.5m. This was the purchase price paid 25 years ago.
• We could agree to spread the purchase price of Roots Hall over 3 years with no rent payable in between.
• I am happy to sell the new training ground at cost.
• The money to fund the Club’s debt is not required on day one. The Club assesses the cash required in the short term, including settling HMRC (releasing the embargo), to be about £1m. The balance of debts (around £1.5m) can be spread over a period of time, as we have with many of our creditors.

There has been much misinformation and many inaccurate rumours. I hope this statement clears that up.

 

[Target man]

STATEMENT: SALE TERMS

In view of the speculation surrounding the sale, and future of the club, I agreed when talking with supporters on Saturday to set down the principal terms we could accept.

www.southendunited.co.uk

 

[Smiffy]

Anyone want to carry on the discussion of RH re-development now after Ron's statement?

Or is it mad, cuckoo land etc?

 

[rigsby]

So to sum up. A four sided 1600 or 21000 with the same income streams will cost the same if not more at RH as it would at FF because of the demolition. Plus loss of revenue whilst building id in progress at RH with reduced capacity etc.

Yes if you want cheaper version at RH that is possible but of course the land at RH would be more expensive in the first place. Plus there would be a whole new round of time delaying council meetings and planning applications.....Would be liucky to start in 5 years as the council would be losing their slice of housing

Going forward the RH option would be less attractive to any future buyer of the club.

The RH or FF is good to debate and a welcome distraction but at least be honest and compare like for like rather than what's possible with two financial extremes.

 

[Holy Joe]

Initial thought is, that might not be a terrible deal for a new property developer! And no mention of FF stadium.

 

[Leigh_Seasider]

But only if we don’t move the stadium or playing area, there is/will be limitation on the height on the west and south stands which make the upgrade a temporary.

Changing the pitch orientation would be best if we would stay due to the housing but the cost of the ground works would basically mean building a new stadium.

Keep the small little ground as is keeps all the current pros and cons of staying at root hall

We could not only upgrade RH “as it is” but bring in more revenue by significantly upgrading even basic things like catering/bars/hospitality and marketing the club better. The point is, RH has been neglected shamefully on the premise of FF happening and no one’s even tried. Ok it wouldn’t be the brand spanking new stadium but it’s definitely enough for a NL club, short term. We’re not talking complete rebuild. It also doesn’t mean we can’t move in a few years. I just don’t see how it’s FF or nothing.

 

[Holy Joe]

So around £10m for Roots Hall, training ground and the football club.

 

[fredheim_holm]

If what Ron states there is true, it all seems too simple to me? Surely it’s time for Kimura to tell their side of the story, Ron’s deal seems very reasonable and @Sherif H has already spoken that it’s feasible and in some ways more flexible to redevelop Roots Hall than FF due to being able to do it each part at a time.

 

[Userorange]

I live in Peterborough perhaps I should contact Barry Fry and see if he can talk some sense into uncle Ron??

Oh yeah! He’d walk from Peterborough to Southend bare-footed on broken glass to help us out.

 

[Maldon Shrimper]

Firstly thankyou Anna for giving us supporters some update a bit clearer as to what the club needs to do so we can start the season however somewhat unclear how the Government is going to loan us the funds needed.Secondly doesnt look like a buyer is likely any time soon.

 

[Wingnut]

Basically sell the club and stadium but not ff

 

[Yorkshire Blue]

So c£9.5m required before working capital and whatever sums are required to put Roots Hall, training ground right etc.

 

[hlane17]

https://twitter.com/x/status/1680986928571637762

In view of the speculation surrounding the sale, and future of the club, I agreed when talking with supporters on Saturday to set down the principal terms we could accept.

It may not be the legacy I wished for the club, but the club’s survival is of most importance. The interested parties have shared the view for a simple deal.

• The parent company will sell its entire shareholding in SUFC (70.6%) for £1.
• Roots Hall stadium £4.5m. This was the purchase price paid 25 years ago.
• We could agree to spread the purchase price of Roots Hall over 3 years with no rent payable in between.
• I am happy to sell the new training ground at cost.
• The money to fund the Club’s debt is not required on day one. The Club assesses the cash required in the short term, including settling HMRC (releasing the embargo), to be about £1m. The balance of debts (around £1.5m) can be spread over a period of time, as we have with many of our creditors.

There has been much misinformation and many inaccurate rumours. I hope this statement clears that up.

Sounds like a fair deal if you ask me. Would like to hear from the other side...

 

[overseas shrimper]

Yeah,

Initial thought is, that might not be a terrible deal for a new property developer! And no mention of FF stadium.

No FF stadium stood out for me, too. Buy I guess this is the simplified offer and an unbuilt stadium is a pretty big sticking point.

 

[Target man]

Who is paying 4.5 mil for a run down ground? It requires approx 400k just to pass for NL this season. Purchase price and value price isn't the same. Delusional.
That's our death certificate signed for!

 

[Smiffy]

So it goes back to the drum I and others have been banging today. Forget FF.

How much is a re-development of RH likely to cost. Sherif has already provided some meat on the bones.

 

[JIMSDAD]

Does that include the land that Roots Hall, it’s car park, club shop and all access ways?