SUFC: The Future SUFC up for sale

[Evening Echo]

“I am working directly with two sets of buyers, both of whom are credible. I am doing this and speaking to the club owner multiple times a day. There is still a very real risk that the club will not start the season. Anna Firth is working with the National League in this regard and, as you would expect, is doing a fab job. The club is bigger than any one person or consortium, and my sole interest is our club’s survival. At this late stage linking the deal to a new stadium or property development in Fossetts is flawed. Ron Martin accepts this. The club needs to be signed over cleanly with Roots Hall included, with a clear break from the current owner. It also needs to be sold at a clear public price to allow all bidders to come to it. It is, alas, a lot more complicated than that. However, if a buy and seller can agree on a headline figure and the football debts are cleared, we can start the season.”

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[LBBlue]

Extract from 1999 Accounts. I wonder if DD uncovered the “overage” condition on the sale. Hence sell it back to the club at the original sale price -which was £4m not £4.5m.

 

[SPALDINGBLUE]

If a new owner comes in with new and good ideas to earn more income on matchdays the fans will eat it up to help in any way possible

Naked twister in the carpark

 

[Redbridge Blue]

Rons statement seems close to something reasonable, the devil will be in the detail and all that. I also do not read it as "FF is off the table" more that he is willing to have a deal in the shape of that outlined in his statement because it is now critical for the survival of the club. That doesn't preclude it from being discussed at a later date. It is this untangling of FF that makes his position more reasonable. I am in no position to know if the figures mentioned are reasonable or not.

Some have questioned what exactly does The Stadium encompass? The car park etc too. Its would appear that it does. The various colors and lines refer to rights of way and alterations to the original site (as far as I am aware).
The only thing im not 100% sure about are the flats on Victoria Ave shown in the yellow.


View attachment 27427

Have checked land registry and the car park and stadium are in the same title. The flats are separate

 

[Big_Nath]

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.

They didn't fund it through levelling up. It got knocked back I think the council stepped in though

 

[Blues4LifeDan]

The flip side would be that it’s involves a £10m outlay to acquire a business that loses £1m-£2m a year so you’ll have your work cut out to break even let alone get a return on that sort of investment.

This is the biggest problem. It's a lot of money to lose for no return. Why anyone would take that on still baffles me. I'm not going to get too excited yet. A statement from Ron isn't going to extinguish my fearful fires just yet.

We all said before the statement was released that he would put something out there that would shift the attention away from him. He has certainly succeeded. I'm still rather anxious about our perilous situation having not played a preseason game and having a skeleton squad, all whilst staff remain unpaid and the possibility the league could kick us out in two weeks.

 

[Richard Hearn]

Hosannah!

 

[Alex]

Rons statement seems close to something reasonable, the devil will be in the detail and all that. I also do not read it as "FF is off the table" more that he is willing to have a deal in the shape of that outlined in his statement because it is now critical for the survival of the club. That doesn't preclude it from being discussed at a later date. It is this untangling of FF that makes his position more reasonable. I am in no position to know if the figures mentioned are reasonable or not.

Some have questioned what exactly does The Stadium encompass? The car park etc too. Its would appear that it does. The various colors and lines refer to rights of way and alterations to the original site (as far as I am aware).
The only thing im not 100% sure about are the flats on Victoria Ave shown in the yellow.


View attachment 27427

Am I looking at this wrong, people have suggested moving the pitch 90 degrees, which in its self would require alot of earth shifting, but the carpark doesn't appear big enough for the width of the pitch and stands running down the side, unless we do a dagenham

 

[leeblue]

Here is a massive pile of s@#t
That'll be 6million please

 

[sufcnum1]

Soccer: Southend to sell Roots Hall

Roots Hall is to be sold to pay off Southend United's £3.87 million debts, the Blues have confirmed.

www.gazette-news.co.uk

Don't know how accurate this is.

 

[ChalkwellShrimper]

Ron's statement does not categorically state that RH freehold is available for £4.5m. Caveat emptor.

 

[leeblue]

Who on earth is going to ' buy' that. Other than a fan with millions to burn

 

[Uncle_Rons_Teapot]

Here is a massive pile of s@#t
That'll be 6million please

Didn't know Colchester were for sale

 

[GBJ]

The flip side would be that it’s involves a £10m outlay to acquire a business that loses £1m-£2m a year so you’ll have your work cut out to break even let alone get a return on that sort of investment.

Long term planning, how much would The Club (RH) be worth in 10 years time?

A £10m investment right now might seem tough to swallow, but not beyond the realms of possibility that it’s worth double that? Maybe more?

As for losing money every year, yeah it’s not appealing. But cutting our cloth accordingly and utilising what we’ve got to generate both matchday and non-matchday revenue wouldn’t be too difficult. Plenty of good suggestions have been mentioned in here today.

 

[Alex]

If you sold RH later as a development site for £30m then probably you would expect to pay the £38m??

I know, even selling the development for £30m at Roots hall and then paying £38m for the new stadium at Fossetts would only require an extra £8m funding, however the extra revenue coming in would be clawed back fairly soon, increased gate receipts, hospitality etc. It would cost more that £8m to redevelop Roots Hall. So this deal looks far too good to be true

 

[Kestrel]

Didn't know Colchester were for sale

Whilst this would normally be funny, a lot of their fans have given us tremendous support recently with our current plight. Let's keep rivalries aside so that we can concentrate on our survival which would allow such rivalries to remain rather than be lost forever.

 

[Redbridge Blue]

You realise how much the ground it sits on is worth right?

Here's a thought. If the club owns RH and the car park it will have a very valuable asset in the land against which it should be able to borrow to finance at least the immediate repairs to RH. Don't need to have ready cash available.

 

[Hampshire Shrimp]

Ron's statement does not categorically state that RH freehold is available for £4.5m. Caveat emptor.

Quote: "

• We could agree to spread the purchase price of Roots Hall over 3 years with no rent payable in between.

If you are buying Roots Hall for £4.5m, why would you have to pay rent anyway?

 

[dusterman]

Supporters group meeting might have had its agenda amended slightly this evening?!

 

[leeblue]

Bulldoze the East
Rebuild a modest size east stand with new corporate/banquet facilities, then in the North West corner pop up a tower block development with 60 flats...bosh.