SUFC: The Future SUFC up for sale

[Barling Magna]

Hmmm....... I don't like it. It sounds not entirely unreasonable.

 

[kentblues]

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.

Blimey. Well if Kimura or anybody else were ever serious I assume they will be dashing down to Benfleet Road & not sparing the horses...

 

[bazzashrimper]

What is roots hall stadium? Does that include the land for the car park etc?

 

[TrevorFitzpatrickHattrick]

Key word here is this is principle terms we could accept.

This framework would be straightforward and actually quite reasonable if you were dealing with anyone other than Ron Martin.

 

[Jasrod]

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

I think most people who cared about football would do that other than Ron

 

[Sparte]

A potential purchaser with vision could forget FF and take the club in a different direction….

 

[Leigh_Seasider]

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

£4.5 mil for Roots Hall? Well there it is.

 

[The Big Dady]

Snap his hand off someone.

 

[Texas Eslan]

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

That’s the big question. I bet it’s a leasehold only on the stadium.

 

[LeedsSUFC]

Regarding the department for levelling up, they did just fund Wrexham's new stand, so it isn't a pluck out of thin air from AF. It's probably also why Mullin's '**** the tories' boots getting fast backlash from the club leadership.

 

[kentblues]

At some future point RH would be worth a number of multiples of that (8/9) as a development site if another stadium was available whether at FF or not..TBF to Ron (which is absolutely verboten) if this is serious then its a genuine opportunity for any serious buyer. Ball well and truly in the current buyers court- and might attract others in short order.

 

[Supershrimper]

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.

So about £6m plus £1 gets the club, Roots Hall and clears all outstanding debts?

Plus whatever the new training ground cost to truly get rid of Ron

 

[greyerfox]

From what Anna F said of the NL list of requirements, I thought it was staggering (if it is indeed the case) that a list of football - related creditors is still to be provided by the Great Helmsman. It must have been put together weeks ago for the prospective buyers. Anna is seemingly doing her best. Regarding the Safety Certificate, I took her to indicate that she wanted the Council to step up and do whatever it could speedily to facilitate its grant. Presumably she meant have officers standing by to carry out necessary inspections. She was not, I think, suggesting the Council should fund the cost of obtaining it.
Come on GH, get cracking and do your bit.

 

[Beefy]

That’s the big question. I bet it’s a leasehold only on the stadium.

Maybe but he's being misleading if so (standard) as he says it is the price they paid 25 years ago which was for the lot.

My instinct is that its the whole site.

 

[fredheim_holm]

If any buyer truly has the clubs best interests at heart then this deal seems a no brainer?

We stay at our spiritual home and renovate it, with scope for an entirely new East Stand with all the facilities FF could bring, Ron is no longer involved at all, and all for around £6-10m (depending on training ground purchase/cost) + stadium renovation costs (which @Sherif H has consistently said won’t necessarily be any more expensive than FF).

Sounds like it’s time for the potential buyers to step up to the plate.

Unless their interest is getting some of the money out of the FF development. In which case they’re really no better than Ronald.

 

[Redbridge Blue]

So about £6m plus £1 gets the club, Roots Hall and clears all outstanding debts?

Plus whatever the new training ground cost to truly get rid of Ron

But for that you get a broken down stadium, no hike in income possible and you need to find running costs of what £1-2m a year?

 

[GSW Shrimper]

Am I wrong thinking 4.5 for Roots Hall is very good?

 

[NZamba Legend]

Doesn’t sound to good. Shocking! Us fans being left in the dark YET AGAIN! RON I HOPE YOU GO TO PRISON FOR THIS!

Listen to it yourself dude, you might hear something else in what she says, something more hopeful that I missed.

 

[Target man]

• 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.

This doesn't make sense.

Can be spread over a period of time.

It is though before the start of the NL season though isn't it?

HMRC - 1 million - to release the embargo.

So at a minimum, we need 1mil plus safety certificate costs to begin the season.

Have I missed something?

 

[Redbridge Blue]

Am I wrong thinking 4.5 for Roots Hall is very good?

It may be just the stadium not the stadium and the car park.