SUFC: The Future SUFC up for sale

[Westcliff DGS]

So as I wake up this morning I am non the wiser on anything lol, story of my life.

1) who is interested in buying the club other than Kimura - lots of rumours but no substantiated evidence
2) who has actually bid for the club other than Kimura - lots of rumours but no substantiated evidence
3) Kimura only ones to have done - DD that seems to be certain
4 )the new sales terms are better terms than Kimura were offered - think thats what was said
5) the new sales terms are a lie - so someone on this thread said yesterday
6) Kimura may or may not be interested in the new terms - any one know?
7) have the NL spoke to the club, if so any rumours on what was said or do any ITK’s know what was said - nothing official known form what i can tell
8) will debts be settled by the deadline if no take over completed - seems unlikely at this stage

 

[edwardss2]

Some good news! I have just had an email confirming my season ticket purchase, and another asking me to register with the new ticketing system.
I may be 'clutching at straws', but I find the normality of this strangely reassuring. Amid the madness of football club finance, the business of running the club is going on.

 

[CRATE]

The only way it can be right now is, RM has a bidder / interested party, that NOBODY knows about and would be more of investment and RM staying in some capacity or Monday nights statement on the website was him putting us in the shop window.

It makes no sense, how he’s changed the goalposts of a deal discussed last week, and not informed the people he was trying to do the deal with. It’s like having someone bid on your home, then a week later you drop the asking price and the agent doesn’t offer it to them again. Makes no sense.

I know how much first hand Laurie Pinto would like to do a deal. I also know he cannot deal with RM.

Someone alluded to people behind the KIMURA rumours being emotionally blackmailed. I’m not sure how true that is, but I know James Dudridge has tried to leverage his relationship with an attorney general, to add pressure. Emotional or not I don’t know.

We have a football club in dire straights, we have an owner who says he wants to sell, we have a buyer who wants to buy if the deal is structured in the correct way? I dread to think what is next if something concrete is NOT done by the end of the week.

I do however feel we will hear something publicly in the coming 24-36 hours!

 

[WestStandBlue]

We will get some updates in the next 24 hours, confirmed.

 

[Westcliff DGS]

The only way it can be right now is, RM has a bidder / interested party, thank NOBODY knows about and would be more of investment and RM staying in some capacity or Monday nights statement on the website was him putting us in the shop window.

It makes no sense, how he’s changed the goalposts of a deal discussed last week, and not informed the people he was trying to do the deal with. It’s like having someone bid on your home, then a week later you drop the asking price and the agent doesn’t offer it to them again. Makes no sense.

I know how much first hand Laurie Pinto would like to do a deal. I also know he cannot deal with RM.

Someone alluded to people behind the KIMURA rumours being emotionally blackmailed. I’m not sure how true that is, but I know James Dudridge has tried to leverage his relationship with an attorney general, to add pressure. Emotional or not I don’t know.

We have a football club in dire straights, we have an owner who says he wants to sell, we have a buyer who wants to buy if the deal is structured in the correct way? I dread to think what is next if something concrete is NOT done by the end of the week.

I do however feel we will hear something publicly in the coming 24-36 hours!

I think we have 7 days to get something done or at least the meat on the bones, if not i do not see how we can satisfy the league requirements to enter.

 

[Cricko]

Quite…eg npower…

Thats only 600k

 

[Petejames]

Meeting at 10 o’clock today? Somewhere with someone?

 

[Cricko]

I don't think this thread gets enough attention. Replies17K (includes deleted posts)

Views1M

 

[Shrimper1985]

I don't think this thread gets enough attention. Replies17K (includes deleted posts)

Views1M

Less than 2% deleted. Not bad

 

[West Stand]

Can someone else not buy the club though? Not saying they would given the stadium, but it would not be impossible?

Besides 25 point deduction would likely be relegation. So 2 years of reduced income as a minimum would probably be greater than £2m.

Better to pay the money - get the club moving forwards again. Loads of goodwill there now for the right buyer

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

As you say that is a course of action open to those that hold a floating charge until I checked I thought the charges were fixed but yes the charges that RMs companies hold are both fixed and floating so I guess in theory he could force administration but I am not sure how matters would play out from that point on or come to that nor would there be any guarantee that RH would be sold to a new football club particularly with planning be as it is.

I know you suggest that there isn’t any immediate danger from the NL but like Gateshead who were effective expelled from The Nl without being in an Insolvency event there was and in the case of Southend are multiple breeches of NL rules and that’s where RMs actions or lack of the has left SUFC

 

[Dutch Branch]

This is like trying to navigate a aircraft carrier through a tight windy river in the fog with no pilot

 

[Sparte]

I don't think this thread gets enough attention. Replies17K (includes deleted posts)

Views1M

It is difficult to keep up with it at times unless you’re watching it constantly!

 

[Supershrimper]

It is difficult to keep up with it at times unless you’re watching it constantly!

Really just need a sticky locked post with 1 summarised update of where we are at 5pm each day.

I often think I've missed an announcement and then have to wade through several pages of posts only to find no further update.

 

[Cricko]

Really just need a sticky locked post with 1 summarised update of where we are at 5pm each day.

I often think I've missed an announcement and then have to wait through several pages of posts only to gind no further update.

Sounds like a job for @Smiffy

 

[Sparte]

It is difficult to keep up with it at times unless you’re watching it constantly!

And it’s spawned a new hobby of “post collecting”! …hey everyone, I’ve just posted no #15000. That said, no #17000 is up for grabs soon and I’m going for it

 

[Hadleigh-shrimper]

The only way it can be right now is, RM has a bidder / interested party, that NOBODY knows about and would be more of investment and RM staying in some capacity or Monday nights statement on the website was him putting us in the shop window.

It makes no sense, how he’s changed the goalposts of a deal discussed last week, and not informed the people he was trying to do the deal with. It’s like having someone bid on your home, then a week later you drop the asking price and the agent doesn’t offer it to them again. Makes no sense.

I know how much first hand Laurie Pinto would like to do a deal. I also know he cannot deal with RM.

Someone alluded to people behind the KIMURA rumours being emotionally blackmailed. I’m not sure how true that is, but I know James Dudridge has tried to leverage his relationship with an attorney general, to add pressure. Emotional or not I don’t know.

We have a football club in dire straights, we have an owner who says he wants to sell, we have a buyer who wants to buy if the deal is structured in the correct way? I dread to think what is next if something concrete is NOT done by the end of the week.

I do however feel we will hear something publicly in the coming 24-36 hours!

So he won’t sell to kimura . What a man

 

[rigsby]

And it’s spawned a new hobby of “post collecting”! …hey everyone, I’ve just posted no #15000. That said, no #17000 is up for grabs soon and I’m going for it

Cricko should think about allowing people to sponsor those mile stone posts. Or how about match and post match threads?

 

[kentblues]

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

There can be a restriction due to prior QFCH holders rights and court would still need to approve as in WUP. Needs to be interests of WUP creditors. Football creditors still need paying, and the points deduction would be a significant disincentive to a buyer on top of the others. No buyer with with sufficient backing would find the club more rather than less attractive.

 

[Paulie Walnuts]

Do

You are not wrong!

So he won’t sell to kimura . What a man

No, because they're everything he isn't and he's petrified of someone making our club a success when he failed so many times.

Its like the lunatic you read about in the paper who murdered his girlfriend and was quoted-"if I can't have her nobody will"..,

 

[Hadleigh-shrimper]

Do


No, because they're everything he isn't and he's petrified of someone making our club a success when he failed so many times.

Its like the lunatic you read about in the paper who murdered his girlfriend and was quoted-"if I can't have her nobody will"..,

This is so sad every time we have a bit of positive news. We get bad news again:( .

Wish I could just stop checking. Think we’re all beyond desperate for good news now.