SUFC: The Future SUFC up for sale

davewebbsbrain · Jul 17, 2023

GDM said:
Well if there’s no club then there’s no need for a stadium at roots hall or FF…

As MattE said, that would require plans to be submitted and I'm not sure how much the council like Ron

bazzashrimper · Jul 17, 2023

Still think a deal could work that this is a deal - which can be swapped for a 21k stadium with roots hall + £10m going back to Ron

dtrave · Jul 17, 2023

He put the club up for sale in March and only now seen fit to state what he want for it.??

Sounds like the offers from potential buyers fall far short of what he's expecting or been negotiating for the last 3 months.

He's been backed into a corner and is now positioning himself when the blame game starts....

Holy Joe · Jul 17, 2023

LBBlue said:
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.

I still don't see that as saying the club will own Roots Hall.

Sparte · Jul 17, 2023

Rutland Shrimper said:
Exactly maybe 10 days tops to do this. A buyer needs to be working on it now and even then it’s a huge ask. But and hope we must

The NL might "bend" the rules slightly for us if we have a buyer lined up. But a given is that we've got to be in a position to fulfil fixtures, both home and away from day one. Having a team and having RH in a state that can host matches is the bare minimum required.

Jim Levenstein · Jul 17, 2023

MattE said:
I still don't see that as saying the club will own Roots Hall.

Course not. Whoever purchases the club will own RH and then they of course could start a paper debt for the club via rent they charge the to use the stadium.

Jack_23 · Jul 17, 2023

Sparte said:
The NL might "bend" the rules slightly for us if we have a buyer lined up. But a given is that we've got to be in a position to fulfil fixtures, both home and away from day one. Having a team and having RH in a state that can host matches is the bare minimum required.

They’ve probably already bent the rules one way or another for us. Been very lenient imo

CRATE · Jul 17, 2023

MattE said:
I still don't see that as saying the club will own Roots Hall.

If someone buys it, they have to own it haha! Just depends how the buyer structures it.

The Original Tribal Chief · Jul 17, 2023

Sensei Phil said:
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!

The fact that a poster named Awooga likes this post tells me that Kimura don't like the RH deal.

LBBlue · Jul 17, 2023

MattE said:
I still don't see that as saying the club will own Roots Hall.

I suppose that strictly he is not - he is saying he will sell Roots Hall for the price he paid for it. It would be up to the buyer whether they owned it or bought it in the name of the club.

damien · Jul 17, 2023

With the mps heavy involvement have there been discussions had surrounding the "simpler sale" meaning they will try to push through the change of stadium to housing at fossetts?

Looking at some potential positives within that other than he's panicking and the purchase is silly

Tinks · Jul 17, 2023

i agree with what some other have wrote in regards if the club is sold and that weasel has gone - I would most certainly volunteer to help get the ground ready and although I am not a tradesperson I can sweep and clean oh and make tea

Sparte · Jul 17, 2023

Forgive me if I've missed it above but is the sale of RH freehold or lease hold?

pottster · Jul 17, 2023

4.5 might seem a reasonable deal. But throw in rising interest rates and property prices flat lining. Borrowing 4 million was a lot cheaper when Ron did it! End of the day it's only worth what someone wants to pay for it.

West Stand · Jul 17, 2023

Sparte said:
The NL might "bend" the rules slightly for us if we have a buyer lined up. But a given is that we've got to be in a position to fulfil fixtures, both home and away from day one. Having a team and having RH in a state that can host matches is the bare minimum required.

Some Months ago I posted that I believed the NL probably would only be pushed so far only to be told that any type of action such as being kicked out the league would be challenged in court etc.

There is absolutely no way that the NL will bend the rules if they have set a series of conditions then failure to get the WUO settled, salaries paid and a safety certificate in place then that’s what they will require

bazzashrimper · Jul 17, 2023

Tribal Chief said:
The fact that a poster named Awooga likes this post tells me that Kimura don't like the RH deal.

Ah. Bugger

Boreham Shrimper · Jul 17, 2023

Tribal Chief said:
The fact that a poster named Awooga likes this post tells me that Kimura don't like the RH deal.

If I were them I wouldn’t either. I’m struggling to see how they get a return on their investment, and that is what their backers are by all accounts - investors seeking a return on their cash over and above the risk free rate that one earns by having cash in the bank.

Ron’s deal would be great for a supporter with lots of money but I struggle to see the return on investment. Maybe that’s why I work in finance but am not a banker though?

kentblues · Jul 17, 2023

MattE said:
I still don't get why the club would own Roots Hall. Presumably the buyer is buying SEL and Roots Hall ltd. So the buyer will own both assets not the club, as today? Upto the buyer how they then structure the holdings.

Yes I see. I guess at this point thinking this step further wasn’t front of mind. Not sure it matters with the right owner. I don’t think they will by RHL so it’s a question of whether the acquire RH through SEL or via another company. The fact they only own 70% of SEL might mean they purchase through a wholly owned company. Don’t know.