SUFC: The Future SUFC up for sale

[GSW Shrimper]

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

Surely if this was the case he would’ve said

 

[Dazzaref]

But no mention of the urgency of the need to pay all creditors ……. now

 

[Mad Cyril]

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!

A property developer?

 

[LeedsSUFC]

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

It could be slightly different depending on how the deal is formatted.

Immediately:
£1 for the club
£1 mil to HMRC.

Over 3 years:
£4.5 mil for Roots Hall

Over couple of years:
£1.5 mil to cover debt


This is before you consider any of the running costs, which I think we run at £1.2-2 million loss per season? (probably more with the lack of season tickets sold...). These figures are all without needing to purchasing half a new squad, bringing the stadium up to standard in the space of 2 weeks.

But then if AF gets the levelling up fund to buy the stadium and it only requires the club to pay for maintenance/servicing of the stadium, £2.5million for the club doesn't sound too bad at all.

 

[pottster]

Isn't there charges placed on SUFC to something like 30 million, what's going to happen with that?

 

[TrevorFitzpatrickHattrick]

If we were dealing with someone with a shred of decency and an accurate moral compass, I'd say there's a clear line of sight for an interested party to reach an agreement based on the statement released. The problem is they wouldn't be dealing with a person with either of those character traits.

The terms are not unreasonable on first impresison, but the pivotal word here is that he could accept those them, rather than would. Therefore, forgive my pessimism.

 

[Farmer Fossett]

I can't see this being a viable/attractive proposition for anyone willing to buy the club.

Any new owner would have to make an initial investment of approx £8m (Roots Hall, trading ground and debt). This is before they look to modernise RH (which is likely to cost at least £5m) and then the investment required in bringing in new players.

There will be no immediate return on the investment (no retail space, hotel etc). In addition the club is likely to continue to lose £100k per month.

 

[Booma]

Isn't there charges placed on SUFC to something like 30 million, what's going to happen with that?

RM is willing to write the debt off

 

[Target man]

A property developer?

So very true ..... which is where his new investor (partner) comes in .....

 

[Cricko]

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.

 

[Wingnut]

He get money from boots and laces

 

[The Late One]

And RM could keep his offices at Roots Hall for his other businesses.... at maybe £400k a year, obviously plus management fees

 

[pottster]

RM is willing to write the debt off

So Ron is going to pay 30 million? Not sure how all that works

 

[bazzashrimper]

Surely if this was the case he would’ve said

Ron?

 

[Joshy boy]

I told you guys there would be a statement. I said the day hasn’t ended yet and said 5/6. As I’m on a roll with predictions. I’m predicting someone will table an offer within the next 2-3 days and it will be accepted which included the club and roots hall and the training ground. We will then know the owners on Friday. Not asking for much am I?

 

[kentblues]

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

No- but having spent time saying RH would be £20/30/30m due to planning I have no doubt, because its come from Ron (who understandably no-one is a fan of), an offer of sale at £4.5m will become a bad deal via some tortured argument.

 

[NZamba Legend]

I was under the impression she wanted the council to step up and fund repairs to a community asset to insure it can get the safety certificate, but could be wrong.

Ah, you’re probably right there

 

[tommy tucker]

;et put this into perpective .When Wrexhamwas brought for 1 pound plus and debt the club owed For the first two years the new owners lost 2 millon pouns .So as we all know any buyer Wont turn in propet .But being wise .Who ever buys the club will have a brillant fan base . Lets hope someone out there can see the potental .

 

[Jack_23]

As a whole that’s not a bad price . But if it was that simple we’d of been taken over by now. Ron is chatting **** as usual .

 

[Holy Joe]

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!

It's a run down ground with planning permission for hundreds of flats. That'll be the worry - is the buyer committed to the club or the land.