SUFC: The Future SUFC up for sale

[bazzashrimper]

So with rumblings about roots hall sale for about 48 hours now, anyone know if Kimura are interested in something like this?

 

[Sherif H]

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.

I feel like you have cherry picked figures completely at odds with your plea in the last paragraph.
Let's agree to disagree on the redevelopment approach and costs.

 

[fredheim_holm]

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.

But by making this public he limits himself quite severely, if he reneges on it then Anna Firth, James Duddridge and any potential buyers can call him out on that.

To me the ball is firmly in any buyers court. If they remain silent this week then to me they’re out of the running.

 

[GSW Shrimper]

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 .

It was FF what was complicating it. That’s out the picture now

 

[rlb999]

if I’m reading it correctly its a fair deal and a sign of a man desperately trying to exit.

but what he seems to be saying is that we’d have our ground but be back to square one in terms of a new ground. Plus we’d be training in a local park.

the club costs nothing, although you would not want to take on its historic liabilities.

the ground seems to be the key thing - we need 45 local businesses or people to put in 100k in return for a share of it. That’s not impossible surely, as the asset has value.

we’d also need an army of volunteers to do it up - but I thing we’d get that.

could the fans not buy it?

 

[kentblues]

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?

We have pages on here about how RH could be updated, including by an expert if stadium renovation and building. So buy RH for £4.5m and you either have
-a future potential development site worth many times that and you can move to FF or elsewhere
-a site you can develop at a fraction of the build cost of a new stadium.

I suspect some may find way to not like it because its come from Ron- but TBH I never expected him to come up with something as reasonable as this.

 

[Blue Yonder]

There has to be a catch.

 

[Smiffy]

Gould family deny rumours they are buying Southend United

THE Gould family have ruled themselves out of buying Southend United - as fans continue to fear for the future of the football club.

www.echo-news.co.uk

 

[Tommy2holes]

I'm very surprised that he has come out with facts and figures and very much to the point.

If the figures quoted are to be believed then it doesn't seem totally outrageous for a deal to be had.

Surely with the price of land etc , roots hall for 4.5 million is a very good price.

For anyone coming in, would instantly see several thousand sign up to season cards which would fund a team re build in the short term.

Looking at those terms I can see it being workable.

My worry is what happens to fossetts?

Is Ron really gonna give up the dream of building flats at the hall and fossetts?

 

[kentblues]

It was FF what was complicating it. That’s out the picture now

It might still be there as a future option. But the club owning RH means they can look or that or not from a position of security (or indeed any other potential future site)

 

[Target man]

Wasn't the HMRC bill 275k? Is there 725k interest on that then?

 

[kentblues]

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

And much of it spread over 3 years!!!!

 

[Wickford Blue]

I am thick so need help.
If I were to give Ron £10 million he then has nothing to do with the club.
I own the ground and the Training ground. That might (does) need investment to keep it going for a few years but I have no obligation re Fossetts Farm? Ron can then go off and build whatever he likes on the Fossets farm land. The new Owners can then make their own decision on New Ground or re-develop Roots Hall.......or does Ron still have some hold over Roots hall in terms of Car Park and building flats etc..
Someone please help me

 

[Evening Echo]

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.

Read more on this story


Help with Echo links

 

[Cato]

Problem with all of this is it’s about £9.5m to buy it all and clear the debts. Who will pay that for a club losing money. RH is a black hole with no off field income potential. Who invest that with no real prospect of a return?

 

[Booma]

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

He’s not, it’s against the club, a Ltd company not RM. I thought? Please correct me if I’m wrong

 

[Supa Shrimpa]

He hasn’t mentioned anything about Fossetts, though ? Who on earth would want to buy the club (with all that debt) without the potential of the new ground ?

 

[Mad Cyril]

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.

I am sure the devil is in the detail.

A mobile phone contract runs to several sides if A4....

 

[Colblue]

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

Are the charges put on by Ron’s other companies? In which case he could write them off as promised.
Or are they by all of the financial institutions / private investors who have lent money over the years? In that case who is paying those under this offer?

 

[SPALDINGBLUE]

I am thick so need help.
If I were to give Ron £10 million he then has nothing to do with the club.
I own the ground and the Training ground. That might (does) need investment to keep it going for a few years but I have no obligation re Fossetts Farm? Ron can then go off and build whatever he likes on the Fossets farm land. The new Owners can then make their own decision on New Ground or re-develop Roots Hall.......or does Ron still have some hold over Roots hall in terms of Car Park and building flats etc..
Someone please help me

I am like you personally want to stay at RH and end my long exile just get c martin out now