SUFC: The Future SUFC up for sale

[CRATE]

You’re saying that Ron wasn’t aware of the terms in the club statement? Or is that a typo? I’ve heard different things than you have obviously about Kimura but I hope you are right and I’m wrong.

No, I’m saying the terms of the deal offered on the club website, are different to the terms offered last week! In fact a lot ****ing different.

 

[Kat_r]

You’re saying that Ron wasn’t aware of the terms in the club statement? Or is that a typo? I’ve heard different things than you have obviously about Kimura but I hope you are right and I’m wrong.

Don’t forget Ron’s got another buyer waiting in the wings.

 

[Jack_23]

Having spoken to a chartered accountant with previous experience in running a football club as a fit and proper qualified owner and then a finance specialist in football.

They both say, it would be so much more beneficial for Southend United to go into administration under new ownership. It would yes cause a points deduction of course, but would also come with benefits for instance writing off a large sum of debt meaning initial investment is not wasted on historical debt.

THE ABOVE IS THE OPINION OF OTHERS, and I’m just sharing their expertise and experience.

KIMURA brought in top level, advisors and legals to deal with RM. The team have previously been involved Newcastle and PIF, Chelsea and Abramovich, United & Glaziers to name a few.

Reading between the lines, my understanding is RM has a buyer waiting in the wings (that is not KIMURA)… my understand is the new terms offered on the clubs website have up until now not been communicated with RM.

I would however come back to this with, saying to my knowledge (as recent as phone calls this afternoon) people previously mentioned behind the KIMURA bid are very keen to get it done (I know there are contrary reports on here) but with the right assets and terms in place (standard for any purchase weather that’s sweets from a shop of a football club).

FACT James Dudridge is trying to leverage government relationships to help in the sale of Southend United. I think when this is all said and done, James will be very popular within the fan base (if it gets done I should say).

I understand we may see a public statement in the next day or so. Which could be positive of negative news. I don’t know what it is either way. I am 99% sure many will be able to add more to this tonight or tomorrow day time.

I don’t see any good or bad in SJ Instagram going private except for the fact posting Wallop and the SUFC badge when 10 pints deep has the feelings of thousands of fans ready to react. That said I’m told his a top bloke!

Do you know who this other buyer is ? If so do you think they’ll be a good fit for the football club and are they also looking to get rid of Ron completely like kimura ?

 

[The Original Tribal Chief]

No, I’m saying the terms of the deal offered on the club website, are different to the terms offered last week! In fact a lot ****ing different.

Wow. I would love nothing more than to apologize to you for questioning your information because I really want this to be true. As I’ve said, I heard different but that was yesterday!

 

[Holy Joe]

Having spoken to a chartered accountant with previous experience in running a football club as a fit and proper qualified owner and then a finance specialist in football.

They both say, it would be so much more beneficial for Southend United to go into administration under new ownership. It would yes cause a points deduction of course, but would also come with benefits for instance writing off a large sum of debt meaning initial investment is not wasted on historical debt.

Not sure I get this. If Ron is true to his word and writes off his loans, then the debts are £2.5m.

I think I'd be disappointed if a buyer bought and then we went into admin straight away

 

[CRATE]

Wow. I would love nothing more than to apologize to you for questioning your information because I really want this to be true. As I’ve said, I heard different but that was yesterday!

@Cricko and @Lord Football can both verify this claim! As 100% spot on fact

 

[bazzashrimper]

Do you know who this other buyer is ? If so do you think they’ll be a good fit for the football club and are they also looking to get rid of Ron completely like kimura ?

And why has it taken so long to get it done if they’re “waiting in the wings”

 

[CRATE]

Do you know who this other buyer is ? If so do you think they’ll be a good fit for the football club and are they also looking to get rid of Ron completely like kimura ?

Not a clue!

 

[Jack_23]

Just wish we was at a stage where we knew who both parties are and they were both good fits for the club so we didn’t mind too much which party takes over

 

[Finney on the wing]

Not a clue!

So it's RM then ?

 

[bazzashrimper]

Having spoken to a chartered accountant with previous experience in running a football club as a fit and proper qualified owner and then a finance specialist in football.

They both say, it would be so much more beneficial for Southend United to go into administration under new ownership. It would yes cause a points deduction of course, but would also come with benefits for instance writing off a large sum of debt meaning initial investment is not wasted on historical debt.

THE ABOVE IS THE OPINION OF OTHERS, and I’m just sharing their expertise and experience.

KIMURA brought in top level, advisors and legals to deal with RM. The team have previously been involved Newcastle and PIF, Chelsea and Abramovich, United & Glaziers to name a few.

Reading between the lines, my understanding is RM has a buyer waiting in the wings (that is not KIMURA)… my understand is the new terms offered on the clubs website have up until now not been communicated with RM.

I would however come back to this with, saying to my knowledge (as recent as phone calls this afternoon) people previously mentioned behind the KIMURA bid are very keen to get it done (I know there are contrary reports on here) but with the right assets and terms in place (standard for any purchase weather that’s sweets from a shop of a football club).

FACT James Dudridge is trying to leverage government relationships to help in the sale of Southend United. I think when this is all said and done, James will be very popular within the fan base (if it gets done I should say).

I understand we may see a public statement in the next day or so. Which could be positive of negative news. I don’t know what it is either way. I am 99% sure many will be able to add more to this tonight or tomorrow day time.

I don’t see any good or bad in SJ Instagram going private except for the fact posting Wallop and the SUFC badge when 10 pints deep has the feelings of thousands of fans ready to react. That said I’m told his a top bloke!

Is dudridge trying to help with any sale, or one to Kimura?

 

[CRATE]

So it's RM then ?

Again, not a clue. I actually think RM wants rid now. He must have a buyer who is just floating around that’s completely off the cuff and a curve ball. I think.

Or he is playing Russian roulette with the only serious buyer he could do business with.

 

[yogi bear up the cagire]

Having spoken to a chartered accountant with previous experience in running a football club as a fit and proper qualified owner and then a finance specialist in football.

They both say, it would be so much more beneficial for Southend United to go into administration under new ownership. It would yes cause a points deduction of course, but would also come with benefits for instance writing off a large sum of debt meaning initial investment is not wasted on historical debt.

THE ABOVE IS THE OPINION OF OTHERS, and I’m just sharing their expertise and experience.

KIMURA brought in top level, advisors and legals to deal with RM. The team have previously been involved Newcastle and PIF, Chelsea and Abramovich, United & Glaziers to name a few.

Reading between the lines, my understanding is RM has a buyer waiting in the wings (that is not KIMURA)… my understand is the new terms offered on the clubs website have up until now not been communicated with RM.

I would however come back to this with, saying to my knowledge (as recent as phone calls this afternoon) people previously mentioned behind the KIMURA bid are very keen to get it done (I know there are contrary reports on here) but with the right assets and terms in place (standard for any purchase weather that’s sweets from a shop of a football club).

FACT James Dudridge is trying to leverage government relationships to help in the sale of Southend United. I think when this is all said and done, James will be very popular within the fan base (if it gets done I should say).

I understand we may see a public statement in the next day or so. Which could be positive of negative news. I don’t know what it is either way. I am 99% sure many will be able to add more to this tonight or tomorrow day time.

I don’t see any good or bad in SJ Instagram going private except for the fact posting Wallop and the SUFC badge when 10 pints deep has the feelings of thousands of fans ready to react. That said I’m told his a top bloke!

I think this is a course of action indicated, if not openly said, by some of the new posters , claiming to be ITK. If it means we survive and live to fight against relegation in the coming season, maybe it's the best we can hope for?

 

[CRATE]

I think this is a course of action indicated, if not openly said, by some of the new posters , claiming to be ITK. If it means we survive and live to fight against relegation in the coming season, maybe it's the best we can hope for?

It is not something I truly understand.

Currently to buy the club you need £1 + £2.5M Debt + £1M HMRC, proof of funds to forward planning purchase RH & new training ground for £6.5M.

You also then need funds available for the club to sign players, pay wages, investment and more. So let’s say we lost £1.2M a season, so realistically to cover the 3 years forward planning purchase period you would need another £3.6M but realistically only £800K ish now with the ability to pull in or invest more.

So you need about £4.5M liquid cash and £6.5M proof of funds.

If administration was an option. You would need more like £1.5M liquid cash and £6.5M proof of funds and would have more available instantly to be able to invest in the club and team.

But that’s only what 2 highly knowledgeable people in the space have said. I’m trying to get the finance guy on a Twitter live space tonight.

 

[damien]

I think this is a course of action indicated, if not openly said, by some of the new posters , claiming to be ITK. If it means we survive and live to fight against relegation in the coming season, maybe it's the best we can hope for?

Lol he's going to sell the club to his mate, they'll put it in to administration and Ron will buy it back with a fraction of the debt. Like magic

 

[shrimperjon]

Slowly! Exactly what's needed!

well has been to this point, didnt need to be but Ron digging his heals in hasnt helped

 

[CRATE]

Lol he's going to sell the club to his mate, they'll put it in to administration and Ron will buy it back with a fraction of the debt. Like magic

I very much doubt RM could pass a fit and proper owners test now, having seen the documents and the clauses. I doubt he has a chance in hells chance of being accepted as F&P.

 

[Fitz]

It is not something I truly understand.

Currently to buy the club you need £1 + £2.5M Debt + £1M HMRC, proof of funds to forward planning purchase RH & new training ground for £6.5M.

You also then need funds available for the club to sign players, pay wages, investment and more. So let’s say we lost £1.2M a season, so realistically to cover the 3 years forward planning purchase period you would need another £3.6M but realistically only £800K ish now with the ability to pull in or invest more.

So you need about £4.5M liquid cash and £6.5M proof of funds.

If administration was an option. You would need more like £1.5M liquid cash and £6.5M proof of funds and would have more available instantly to be able to invest in the club and team.

But that’s only what 2 highly knowledgeable people in the space have said. I’m trying to get the finance guy on a Twitter live space tonight.

Can I just say thank you….after 834 pages your posts are the most interesting and I thank you for really pushing RM here, great work sir

 

[bazzashrimper]

Lol he's going to sell the club to his mate, they'll put it in to administration and Ron will buy it back with a fraction of the debt. Like magic

Rather - I guess that’s why Ron will write off his debt. What’s the point if someone would just sent us to admin

 

[shrimperjon]

Hi shrimperjon, I am not on twitter but the session you had last night and the one tonight seems to bring out some usefull facts. Would it be possible for someone to post a summary on Shrimperzone after these Twitter sessions for those of us not on Twitter...many thanks

See Crates post tonight, gives way more info than i could