SUFC: The Future SUFC up for sale

[Shrimper]

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.

Got to be something he is hiding

 

[Leeboy]

I think it’s a good deal personally- a mill short term to clear debts and lift embargo, rest to be paid over 3 years. If new owners bring on outside investors plus gates go over 8k for every home game - kerching. I’m in

 

[Joshy boy]

Would be nice to actually hear from Kimura now considering the cat is out the bag. Come on Kimura do it for us please

 

[bazzashrimper]

The deal seems reasonable and if the training ground is also purchased, and the 4g pitch installed, that will also bring in extra money.

We just have to see if Kimura are still interested now that FF is no longer on the table.

I don’t think it says that FF is no longer on the table. Buy the club, do a deal on FF after. If we move there, build 500 flats on RH at £50k??? Profit each. So get £25m off the price of a new stadium.

 

[Jasrod]

Got to be something he is hiding

150% I’m not ITK before he’ll breaks lose

 

[Cricko]

All posts from the separate thread about RM's latest statement have been moved to this thread. We don't need two on the go.

 

[Beefy]

Just listened to Anna Firth's interview and it sounded to me like the Government support she mentioned would be in the event we fold she's lobbied for some money to go towards buying Roots Hall back.

Don't think it's at all likely that the Council will fund repairs to get the safety certificate which seemed to be her other big plan.

 

[Uncle_Rons_Teapot]

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?

If run correctly (which Ron has never done) the club won't lose as much as it has in the past

 

[5ufc]

But protest don't work ;)

 

[CRATE]

What RM has stated in that press release, is different to what he has quoted buyers.

That deal, quoted by RM is attractive and will probably now see more parties open and interested.

Due to the fact it’s all nearly available on a FPP, it also means there’s an opening for all sorts of opportunities.

I note, he has not said he will sell the training ground on a FPP, but sure a deal can be struck here.

Must say, I feel highly positive!

 

[kentblues]

That was the question that occurred to me. You could rebuild RH, as has been discussed at length today. But the costs of building materials are going through the roof at the moment.

I think £7m plus costs of training ground for a dilapidated physical asset and loss making business is at the high end of what I would consider acceptable. For comparison, our owner paid £8.2m and got a L1 club, playing in a 16,500 seater stadium with multiple revenues including a hotel. And an admittedly primitive training ground.

Did that site have planning for 500 residential units? A development value of say £30m? A brownfield city centre site in the south-east?

Our chairman is a complete nightmare and probably has achieved as many people wanting him out as your old one did. And that is some effort. But there is no world where hand on heart this is other than a very attractive price for the RH site.

 

[C'mon you Shrimpers]

As a football club alone there is unlikely to ever be a return for the buyer. As business people they must know this.

 

[Joshy boy]

@Cricko what you make of Ron’s statement?

 

[5ufc]

From Kimura "we are working on it"

 

[CRATE]

I would suggest, this opens up doors to all kinds of investors.

4.5M for Roots Hall is pennies. The right developer could get planning to build all around the stadium and the profits funding the club and redevelopment of Roots Hall.

 

[Alexshrimper]

Write so Ron has payed his cards on the table.

on first reflection :

1) 4.5m seems fair value considering inflation. the BOE inflation calculator would now consider that to be worth £8,302,983.89

Inflation calculator

Use our inflation calculator to check how prices in the UK have changed over time, from 1209 to now.

www.bankofengland.co.uk

So with the HMRC 1m and debt 1.5m a buyer would still be in a good position.

Come on we now need to see the buyers hand

Come on K group we don’t have the time to be dicking about here.

 

[Joshy boy]

What RM has stated in that press release, is different to what he has quoted buyers.

That deal, quoted by RM is attractive and will probably now see more parties open and interested.

Due to the fact it’s all nearly available on a FPP, it also means there’s an opening for all sorts of opportunities.

I note, he has not said he will sell the training ground on a FPP, but sure a deal can be struck here.

Must say, I feel highly positive!

@CRATE if your positive then I might be too

 

[Jack_23]

Still a very long way to go until we are taken over imo. If it was close this statement probably Wouldn’t have been needed. Very dark days ahead still.

 

[Cricko]

@Cricko what you make of Ron’s statement?

If it includes all he says it sounds like a steal to any potential buyer IMO.

 

[5ufc]

As a football club alone there is unlikely to ever be a return for the buyer. As business people they must know this.

There is if its sold as a documentary.