SUFC: The Future SUFC up for sale

[danbowen]

Love it. Should we try and get Firthy is the space?

As long as the conversation is between her and big Kerry

 

[Joshy boy]

As long as the conversation is between her and big Kerry

Haha Firthy and Kezza that’s a duo we all want to see right?

 

[Stan33]

So sale being announced, embargo lifted, Dallas signing, and East Stand redevelopment starting on Wednesday ?

Thursday

 

[Mad Cyril]

So you concede it’s possible rm bought the club as a land grab to enable him to own both rh and ff for his family in the future to develop?

Why are you afraid of this assertion? It’s the logical conclusion of the facts you presented

The thing that has always puzzled me - Southend have been promoted three times during RMs tenure. If you are only in it for a a profit then why fund several promotion winning and near promotion winning teams?

Who knows what was in his head when he first took over? You might be right (I think on that point you probably are) but it’s immaterial now because he failed. Comprehensively.

If that was his dream, it’s over. Time to look forward and if (when!) the takeover is completed I won’t ever waste my time thinking about that no mark again.

Who knows what was in his head but I doubt it involved waiting at least quarter of a century for the plan to come to fruition.

 

[Tommy2holes]

So what do we all think?

Is this the week that the club finally changes hands??

 

[Avl1983]

The thing that has always puzzled me - Southend have been promoted three times during RMs tenure. If you are only in it for a a profit then why fund several promotion winning and near promotion winning teams?





Who knows what was in his head but I doubt it involved waiting at least quarter of a century for the plan to come to fruition.

I think it's this sort of bizarre behaviour which has left a lot of the fan base torn over what his real motives have been. If he was solely in it for a profit then why did he follow the club up and down the country for so long. He must have some attachment to the club to do that you'd imagine but then there's no excusing or explaining his willingness to neglect to pay staff's wages or HMRC etc. Absolutely mind boggling trying to make sense of it.

 

[Dave Smiths Love Child]

So what do we all think?

Is this the week that the club finally changes hands??

No

 

[JAL]

So what do we all think?

Is this the week that the club finally changes hands??

You can only hope.

 

[Suffolk Blue]

Based on everything I know, FF is dead in the water!

A minor clarification, but one that is important to Ron.

The FF Stadium is almost certainly dead in the water, but the FF development of houses/flats will be very much full speed ahead, once he has no involvement with RH.

 

[Chrisb]

Wasn’t it “insolvent” rather than “in liquidation”?

I don’t however know enough about the insolvency process to know the significance of it.

Do we have any insolvency practitioners on here?

Wasn't the possibility of a CVA mentioned , yes, would be good if there is someone on here expert in these matters.

 

[M_Simps]

So what do we all think?

Is this the week that the club finally changes hands??

It felt like it had to be, but if the rumours that Ron's going to clear some more debt/pay staff this week are true, we may have a little more time to finalise the deal.

We'd obviously all prefer it this week, though. Getting the staff paid is first priority, but we've got to get rid of that embargo ASAP if we don't want to be playing a massive game of catch-up this season.

 

[Chairman Trigg]

Based on everything I know, FF is dead in the water!

Very hard to accept that for the last 15 years we have been sold a dream that it was the only solution and continuing at RH was impossible. Will be interesting when the dust settles to hear just what went on behind the scenes over those years between certain parties the council and Ron.
What a waste the whole episode has been with loss of league status and the club in possibly the worst position in its history

 

[C'mon you Shrimpers]

A minor clarification, but one that is important to Ron.

The FF Stadium is almost certainly dead in the water, but the FF development of houses/flats will be very much full speed ahead, once he has no involvement with RH.

Yes Ron seems to have saved himself and his backers £40 million. It'll be interesting to see what the plans are for the domes. Currently they are planned for land still I believe owned by Cecil Jones school. It's a huge site. I suppose if the stadium is a dead duck and we're stuck with Roots Hall (as you know I'm not a fan) then I suppose the domes could be put on the temporary stadium car park. Or they could be scrapped which would be a pity as it could be a great community resource. If Ron has no more to do with the club then why should he build anything for the club unless it's in the sale deal. I think Ron and his backers must be pretty happy to be honest.

 

[Crawliano]

Very hard to accept that for the last 15 years we have been sold a dream that it was the only solution and continuing at RH was impossible. Will be interesting when the dust settles to hear just what went on behind the scenes over those years between certain parties the council and Ron.
What a waste the whole episode has been with loss of league status and the club in possibly the worst position in its history

I don't find it hard to accept to be honest. The price of steel has gone flying up, the roles a stadium plays both on matchdays and non-matchdays have changed dramatically in 15 years (accelerated further by Covid).

Add to that the now desirable costs of renovating existing property offered by the likes of @Sherif H and the dream now can come to reality much closer to home in a unique setting that's our own and not an identikit Populous development.

 

[Amwell Blue]

Still want my babies?

If you could provide some man juice and put it in a bottle labelled bouffant conditioner and deliver it to a house in Benfleet that would be great

 

[Rattus Norvegicus]

 

[Rattus Norvegicus]

 

[West Stand]

Wasn’t it “insolvent” rather than “in liquidation”?

I don’t however know enough about the insolvency process to know the significance of it.

Do we have any insolvency practitioners on here?

It was my mistake.My concern was that there was it seems an admission that the club was insolvent

Heres what the Insolvency Service say

There are 3 options that allow an insolvent company to continue trading. Directors can:

• contact all your creditors to see if you can reach an informal agreement
• enter into a company voluntary arrangement
• put the company into administration, offering some respite from creditor action and enabling:
  • the company to continue
  • property to be sold

I am surprised others don’t share my concern

I maintain that a CVA is a likelihood

 

[tommy tucker]

It was my mistake.My concern was that there was it seems an admission that the club was insolvent

Heres what the Insolvency Service say

There are 3 options that allow an insolvent company to continue trading. Directors can:

• contact all your creditors to see if you can reach an informal agreement
• enter into a company voluntary arrangement
• put the company into administration, offering some respite from creditor action and enabling:
  • the company to continue
  • property to be sold

I am surprised others don’t share my concern

I maintain that a CVA is a likelihood

i think you will find everone has some concerns with the way things are at present .But there is nothing anyone can do Just hope the club will be saved . I an sure every shrimper will feel the same .

 

[kentblues]

It was my mistake.My concern was that there was it seems an admission that the club was insolvent

Heres what the Insolvency Service say

There are 3 options that allow an insolvent company to continue trading. Directors can:

• contact all your creditors to see if you can reach an informal agreement
• enter into a company voluntary arrangement
• put the company into administration, offering some respite from creditor action and enabling:
  • the company to continue
  • property to be sold

I am surprised others don’t share my concern

I maintain that a CVA is a likelihood

The obvious one missing is selling the company. That is absolutely the option that is being pursued, and the basis on which the courts have approved payment of specific bills (notwithstanding Ron still mentions financial support from group companies as a kind of backstop)..

Re trading whilst insolvent, the directors have to reasonably believe that the situation can be resolved (i.e. return to a state of solvency). In this case by a sale (but actually with football clubs it's often a belief that the owner will continue to put in funds). Without owner funds many football clubs are "insolvent".

Neither a CVA or administration will occur if the sale goes through which is currently the working assumption.