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SUFC: The Future SUFC up for sale

Our hopes and visions for the rebirth of Southend United, plus any plans published by the consortium for discussion
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shrimpereeee said:
Wouldn’t my suggestion at #15919 achieve the same result without the need for administration and the resulting points loss?
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The difference between the two is that RM pays the £2.5M under your suggestion. Under the scenario I put forward, creditors bear the loss. I agree your scenario would avoid a points deduction.

Would RM really take take the hit for £2.5M?
 
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ALW said:
The difference between the two is that RM pays the £2.5M under your suggestion. Under the scenario I put forward, creditors bear the loss. I agree your scenario would avoid a points deduction.

Would RM really take take the hit for £2.5M?
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Not if they’ve got personal guarantees from Ron as the debts will be enforceable outside of any winding up or administration.
 
So we have ten days to get a safety cert from the council that will cost hundreds of thousands of pounds yet we can’t pay backroom staff.

And the people helping won’t be paid
 
ALW said:
There is one way the company of SUFC could still enter Administration. A holder of a Qualifying Floating Charge ("QFCH") can place a company in Administration without getting the courts consent. Mezcal, South Eastern Leisure and Roots Hall Limited all seem to be QFCH. RM could therefore put the club in Administration before any winding up order is made.

If this did occur RM would still be able to sell RH and the training ground as these do not belong to the club and no Administrator would be able to sell them.

A buyer pays RM £6.5M for the training ground and RH and buys the club from the Administrator for say £500K. Provided football creditors were paid the sanction would be a 25 point deduction. This may be attractive to some purchasers
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Anyone who does that, I don't want anywhere near my club! I'm out!!
 
hlane17 said:
Clear squad and management? Not sure about that one. Contracted players are paid and Kev's going nowhere.

Ground share. but nowhere big enough but Garons? No way Garons would make grading for NL.
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As I said I have no idea how he would or wouldn’t know anything. He is a Chelsea season ticket holder after all
 
rshepp said:
I have just spoken to a family member who works in the city in a company that deals with aquesitions and mergers.
He has never heard of kimura.
Google kimura and the reading causes me consern.
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I’m surprised your family member didn’t explain the context to his answer

Remind me again what Kimura do and what that has to do with mergers and acquisitions?

Of course he hasn’t heard of them - why would he?
It’s like asking an Eskimo if he has heard of SUFC- totally irrelevant

I work for the biggest commodities exchange in Europe,so a much closer business to theirs than your family members business have I heard of Kimura- nope, did I expect to have heard of them ( or any of their competitors)- nope
 
hlane17 said:
Clear squad and management? Not sure about that one. Contracted players are paid and Kev's going nowhere.

Ground share. but nowhere big enough but Garons? No way Garons would make grading for NL.
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I agree that all sounds a nonsense. The squad has almost been cleared anyway and why would you need to clear the management? And agree with regards to Garons.. its not a suitable football ground to host supporters.
 
hlane17 said:
Definitely not having a go at you but no idea what that fella's on about. Simply doesn't match up with any deal we know about.
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We don’t really know any details about the deal.

The cut squad and management seems likely to be honest unless we are purchased by someone who is willing and able to sustain losses for a number of years.

We’re currently a loss making business. Any incoming purchasers are going to see what money can be saved. This won’t necessarily mean Maher will go but as loathed as I would be to lose any of them Maher, Currie, Bentley, Collymore and Still seems a bit top heavy for a NL side losing six figures a month. I’d expect some departures are inevitable. On the playing side it will likely mean some of the higher earners depart and the academy’s future is up in the air.

If the buyer doesn’t have deep pockets what else can we expect?
 
Sadly I can’t see a feasible solution to any of this mess that Ron has single handedly got us into unless he comes to terms with the fact that he is a distressed seller who has no choice other than to compromise with any buyer.

He has neglected and destroyed the footballing side of the club by over committing time and money on his blinkered ambition to develop RH and FF thereby securing his own personal fortune.

What a sad state of affairs.
 
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shrimpereeee said:
Sadly I can’t see a feasible solution to any of this mess that Ron has single handedly got us into unless he comes to terms with the fact that he is a distressed seller who has no choice other than to compromise with any buyer.

He has neglected and destroyed the footballing side of the club by over committing time and money on his blinkered ambition to develop RH and FF thereby securing his own personal fortune.

What a sad state of affairs.
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He didn’t neglect the football side, he continuously backed managers who decided to sign a lot of players on big contracts, a few of whom got a lot of injuries or were simply too old to perform well.

He did lose young players on free transfers because his wallet was too tight for better contracts that they deserved.

He did neglect the tax side of things for over a decade and eventually got caught out by missing the EFL membership money + COVID.

He did put too much faith in the wrong people. (Brown/Duncan…)
 
Yorkshire Blue said:
We don’t really know any details about the deal.

The cut squad and management seems likely to be honest unless we are purchased by someone who is willing and able to sustain losses for a number of years.

We’re currently a loss making business. Any incoming purchasers are going to see what money can be saved. This won’t necessarily mean Maher will go but as loathed as I would be to lose any of them Maher, Currie, Bentley, Collymore and Still seems a bit top heavy for a NL side losing six figures a month. I’d expect some departures are inevitable. On the playing side it will likely mean some of the higher earners depart and the academy’s future is up in the air.

If the buyer doesn’t have deep pockets what else can we expect?
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Meant don’t Doubt it just the management team is the wrong place to start listen to stabs pitch last year let’s be the next Brentford
 
ForeverBlue said:
I can assure everyone that it’s definitely not a one horse race.

In fact, if I was a betting man I wouldn’t necessarily be backing the favourite.

I’m not posting this to create mayhem on here or anything like that, I wouldn’t do that. Especially right now, where tensions are at boiling point with what’s currently at stake.

What I’ve been told has come from someone I trust implicitly.

Ron is playing a massive game with buyers at the expense of the football club for his own personal greed and benefit.
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Maybe for the sake of the club you should name the other buyers.
 
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