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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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Supershrimper said:
I'm personally hoping James Sinclair and Phillip Miller MBE are involved. Phillip is owner of the Stockvale group (adventure island) and James is the owner of a £30m group of companies including the Partyman group and also owner of Rossi.

Some of the best shirt designs that have been suggested on here in recent years have had the Rossi on.

Both are successful entrepreneurs and both like to get involved with community projects etc
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I think they probably want to stay successful too, so for me that rules out Stockvale. Sinking a third of your group of companies wealth in 1 known loss maker, is not something I would see a successful business doing when its that large a propotion of their entire wealth.
If they were worth £300m, it might be a gamble worth taking.
 
I can't deal with this, I feel like I'm going barmy!

How on earth, was that statement good news?

Yes, they didn't say they are out but as things stand, they will not be buying the club and Southend United will be kicked out of the league and maybe worse come August.

We have 2 weeks at most to get our **** together and I honestly can't see anyone coming forward now when they've had near on 4 months to do so (unless they have investors lined up)

This feels very deflating to me and feels like a huge step back in negotiations. other investors will have their own questions and if one of them decides they need to do their own DD, we are gone.

If I'm completely wrong, please enlighten me as right now this is depressing the ****ing pants off of me
 
SeldomSeenShrimper said:
I can't deal with this, I feel like I'm going barmy!

How on earth, was that statement good news?

Yes, they didn't say they are out but as things stand, they will not be buying the club and Southend United will be kicked out of the league and maybe worse come August.

We have 2 weeks at most to get our **** together and I honestly can't see anyone coming forward now when they've had near on 4 months to do so (unless they have investors lined up)

This feels very deflating to me and feels like a huge step back in negotiations. other investors will have their own questions and if one of them decides they need to do their own DD, we are gone.

If I'm completely wrong, please enlighten me as right now this is depressing the ****ing pants off of me
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From the info came out the Twitter space last night, I suggest hold your nerve for a few more hours and everything will be revealed.

Dont think its going to be "THE CLUB IS SOLD!!!!" type of thing as from what was said, Ron hasnt even spoken to this group yet, but they are going public with plans and want to meet what Ron has offered this week.
 
So in summary for those who haven't listened to the Twitter space or picked up enough and maybe reading too much into the statement.

Crate has been very close to a meeting (facts verified by others) that suggest a group of possibly 5 business people all from the SS area will be announcing shortly (probably today and maybe on talksport at midday) their proposal for the club going forward under new ownership in response to what Ron put out. Although he never mentioned Kimura it was strongly implied that some of that team form part of the consortium which a) makes this morning's statement not of concern as they are moving Kimura out of the story and will be part of the bid and b) means things like DD and even possibly fit and proper persons tests will not delay things.

Fair summary @CRATE
 
SeldomSeenShrimper said:
I can't deal with this, I feel like I'm going barmy!

How on earth, was that statement good news?

Yes, they didn't say they are out but as things stand, they will not be buying the club and Southend United will be kicked out of the league and maybe worse come August.

We have 2 weeks at most to get our **** together and I honestly can't see anyone coming forward now when they've had near on 4 months to do so (unless they have investors lined up)

This feels very deflating to me and feels like a huge step back in negotiations. other investors will have their own questions and if one of them decides they need to do their own DD, we are gone.

If I'm completely wrong, please enlighten me as right now this is depressing the ****ing pants off of me
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It’s what’s not in the statement that you need to read about.

They are not saying they are not buying Southend. But they are not going to be leading the buy out. Best refer back to @TrevorFitzpatrickHattrick post #17300 as he explains it well.
 
rowe23 said:
It’s what’s not in the statement that you need to read about.

They are not saying they are not buying Southend. But they are not going to be leading the buy out. Best refer back to @TrevorFitzpatrickHattrick post #17300 as he explains it well.
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palexander said:
From the info came out the Twitter space last night, I suggest hold your nerve for a few more hours and everything will be revealed.

Dont think its going to be "THE CLUB IS SOLD!!!!" type of thing as from what was said, Ron hasnt even spoken to this group yet, but they are going public with plans and want to meet what Ron has offered this week.
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Thank you!

I'll continue to keep an eye on the socials and keep everything crossed for a glimmer of good news
 
C'mon you Shrimpers said:
Why I said share the load I meant share the losses, certainly in the short medium term. Rich men can afford to lose a million or two. Who in their right mind is going to commit to losing more. This is not a normal business investment it's a recipe for losing money.
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I think (or hope let's say) the plan to make the club successful and viable that came with a leading bidder yesterday will be remarkably similar to plan tomorrow. But to your point we have always needed a properly funded bid that can buy, invest to make the business sustainable, invest to make us successful on the pitch and (yes) in the short term fund losses.
 
Kimura were the furthest down the line with the deal, a new group means a new DD process and the clock is ticking very close to midnight on our existence....
 
Medway Blue said:
If you read between the lines, this statement fits broadly with what was alluded to last night. This is a very carefully-worded statement and nowhere in there does it say that Kimura are ceasing their interest.
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Exactly. This statement isn't the end for sure. Reading between the lines, there is a group looking at a takeover with Kimura potentially involved in the investment, but not leading it. People need to be patient. All parties are clearly working to make it happen but people need to be patient. It's not going to happen today.
 
I know by the thousands of posts on here that many have a very black and white thought process. Unfortunately more than ever in this complicated world, no more so than when it comes to business, Gray rules! This mornings Kimura announcement while viewed by some as a complete let down will to others be seen as positive reading, the 'Gray' speaks, it says we are still interested as individuals and will tackle this another way. I fully expect further communication to happen, it's the natural process especially as we approach the 11th hour scenario. There is much to be understood today if you are able to interpret and perceive what is not being said, but what doesn't need much understanding is the simple fact, as it always has been RM has to say Yes to the offer, now that is Black & White.
 
Whoever it is, needs to hurry up. We cant afford to have points docked or postponed matches, we dont want to keep playing the chance game like SNAKE has been doing, new owners need to be installed like yesterday. And staff need paying, Kev needs a budget and we absolutely need to get out of this damned embargo.

Fed up with rumours, its action we need.
 
hlane17 said:
New group, maybe not new DD though. Kimura did a thorough investigation that they could bring to the table if they're still involved somewhere.
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This just clicked in my brain - Kimura spent thousands of pounds and hundreds of man hours on DD - they may have gone to these new prosepective owners, "we're happy to share this with you but in return, we want a piece of the pie".
 
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