SUFC: The Future SUFC up for sale

[BEERMONSTER]

It's natural right from the very beginning that most wanted a straight forward sale process, seller wants buyer, buyer wants club, price agreed, job done wallop!
But, RM would rather not sell, really prefers to seek investors to stay in control.
Kimura were not one individual, deal had to be right for their investors, in this scenario they had the funds, but RM playing games, changed goalposts, what's on offer no good for Kimura investors so therefore Kimura couldn't move forward. SJ & KT as individuals face to much financial exposure on a individual basis to move forward.
The so called mystery 5 hopefully have the funds to purchase the club dependent on what RM finally decides he will sell for if can't get outside investment or extended deadline from the court.
So if we decide Kimura we're played and used by RM to justify the judge granting an extension is it possible that other potential bidders including the Mystery 5 would hold off on a formal bid to avoid being used by RM in the same way as Kimura?

 

[GIBBO]

Ron is a firsr class ****y. This is all.

 

[Chrisb]

From what I've been told, funds are not a problem. I wonder whether AF is taking RM's word for it here.

A certain someone is expecting his asking price to be accepted, no questions asked, even if the interested parties disagree with it.

Anybody who doesn't come in immediately at his asking price obviously doesn't have the required funds (imagine me rolling my eyes here).

Any normal person would respond to offers rather than ignore them, and initiate a negotiation. Go back with a compromise counter offer, perhaps. But what do I know?

Perhaps he should get Roots Hall and land professionally valued. I don't know whether the planning permission currently valid on it would complicate matters but I'd be shocked, having seen the physical and structural condition of areas of that neglected stadium, if it were worth £4.5m...

As we keep saying, something is only worth what someone else is willing to pay. It comes as no surprise that he won't enter into negotiations at anything below his asking price, we just have to hope that at some point soon someone can convince him otherwise. Anyone know if James Duddridge is still involved in talks, he hasn't been mentioned recently but previously Ron seemed to be asking his advice.

 

[Shrimperjohn]

Hi all can someone please give me an indication of what is the current position re potential buyers .Are there any ? are there more than one? Reading the threads it appears that there have been no formal bids submitted is this correct ?

In the absence of any response I am assuming that there is currently nothing going on sale wise. All very worrying

 

[tommy tucker]

Why is the man such an areshole Its about time he was gone. The man is like a festering scab .I really am scocked that no one has had a real go at him .

 

[dusterman]

What has been seen at Roots Hall today is what Southend United is all about. I couldn’t care less about anything else. We are Southend and nothing RM does can change that. What a wonderful, wonderful football club we support. No one can take that off of us.

 

[TJC]

So are we still being marketed for sale by the same company in the states? I suspect any initial excitement to do a Wrexham is far behind us now.
Seems the optimism that there were buyers lining up over the years was perhaps exaggerated? Or at least, when it comes to the crunch, simply haven't got financial clout.
Alternatively, Ron is just asking way too much or the tangled web of deception is too much.

 

[Che's Left Foot]

So are we still being marketed for sale by the same company in the states? I suspect any initial excitement to do a Wrexham is far behind us now.
Seems the optimism that there were buyers lining up over the years was perhaps exaggerated? Or at least, when it comes to the crunch, simply haven't got financial clout.
Alternatively, Ron is just asking way too much or the tangled web of deception is too much.

I suspect none of the reasons are mutually exclusive

 

[cerbera45]

Hi all can someone please give me an indication of what is the current position re potential buyers .Are there any ? are there more than one? Reading the threads it appears that there have been no formal bids submitted is this correct ?

Presumably you read Kimura's statement from the 20th of this month?

 

[Yorkshire Blue]

Very disheartening that you are reporting that Anna Firth, MP and public servant, is saying Kimura haven’t got the funds when numerous ITK’s have repeatedly said they showed proof of funds on multiple occasions. I’m taking Anna at her word on this and re-evaluating my trusted in the know list.

You might have £10m in your bank account. You can show someone a statement showing that. But if you’re worth £10m you’re not going to put it all into Southend United. Unless you’re worth a substantial lot more than that you’re going to want some backers/partners to share the risk with.

So at the same time you can have proof of funds but not the money.

Why Kimura’s backers pulled out we will never know for sure. Ron is no doubt a pain but two other factors are also likely to be relevant. First, their bid was supposed to involve Integral Sports Management (this further suggests Kimura didnt have the funds by themselves) but they can’t own a club because of the conflict of interest as agents. Secondly, their plan involved maximising the use of the new stadium but their DD would have revealed that there are planning restrictions about how often it can be used. This may have caused their backers to drop out as their initial financial plans would no longer added up.

 

[shrimperjon]

That picture is haunting me and we will make sure he is a mascot at some stage during the season.

What struck me today was there were many kids with parents and many fans around 40+. My son aged 19 was there and a lad helped me who was 16. Other than that I struggled to see many fans between 16-25.

 

[shrimperjon]

Could it be that Kimura had the money for whatever the deal was with FF (this being a more attractive long term investment proposition), but cannot raise funding for the simplified RH deal?

Would say that is more likely

 

[shrimperjon]

As we keep saying, something is only worth what someone else is willing to pay. It comes as no surprise that he won't enter into negotiations at anything below his asking price, we just have to hope that at some point soon someone can convince him otherwise. Anyone know if James Duddridge is still involved in talks, he hasn't been mentioned recently but previously Ron seemed to be asking his advice.

Anna did mention him today

 

[Billy Bests boot laces]

What struck me today was there were many kids with parents and many fans around 40+. My son aged 19 was there and a lad helped me who was 16. Other than that I struggled to see many fans between 16-25.

Same as the weekly protests outside the 'roach's' house?. Only time i've seen that age group is in pics protesting walking from the Pier to the ground on a couple of match days. Weird?.

 

[Shrimperjohn]

Presumably you read Kimura's statement from the 20th of this month?

Can you point me in the direction of this please ? I am not being awkward I am struggling to keep up / find out the up to date sale position as this is the SUFC sale thread. Thank you.

 

[defender05]

Easy buddy. Kimura were reputedly interested in the entire package of Club and FF. To that end they had investment backers that were their financial clout. That, almost certainly, was where the proof of funds came from. When Ron moved the goalposts once again, and ruled out Fossetts, then it would seem that the investment backers would back no more. ITKs can only report what is happening at the time of their intel and this is such a moveable feast now.

Yet, time and again people said they were only interested in the football club, seems like the club was only an option as part of the larger deal.

 

[Mr Browns Ghost]

Did meet the blues day happen this year ?

It’s on in the car park 12.45 this Saturday for 45 minutes

 

[Mr Browns Ghost]

After spending time there today, speaking with people including Kev, Tom L and more importantly Anna Firth I’m certain Ron is going nowhere. As I’ve put on another thread, Anna said that Kimura don’t have the money and havnt for a while so they are defo out the running. She was aware of a few other people or groups that may interested but hasn’t had any contact with them directly and wasn’t aware of names etc. she is working closely with The Trust and council to see if there is a short term solution (not sure I got that quite right) but it’s not the answer long term. I wouldn’t surprised to see Ron not pay the tax bill and incur a 10 point deduction, he really doesn’t care. Anna said he is so hard to get hold of and communicate.
in other news I did speak to Nicky Hayes who has been taking photographs at matches recently and was there again today. He recently left the same job at Billericay Town. He said he had been contacted by a member of A group looking to takeover and asked if he would like the gig. Said he should find out more after meetings take place this week. So that maybe is promising

But but but crate said

 

[Mr Browns Ghost]

I've had enough now, we will be relegated this year, so let's full on boycott now, not like we even really have a team to support now. I'd sooner us go bust and start again and watch Ron's empire crumble

I’m sure you’ve got to finish the season to get relegated mate

 

[kentblues]

From what I've been told, funds are not a problem. I wonder whether AF is taking RM's word for it here.

A certain someone is expecting his asking price to be accepted, no questions asked, even if the interested parties disagree with it.

Anybody who doesn't come in immediately at his asking price obviously doesn't have the required funds (imagine me rolling my eyes here).

Any normal person would respond to offers rather than ignore them, and initiate a negotiation. Go back with a compromise counter offer, perhaps. But what do I know?

Perhaps he should get Roots Hall and land professionally valued. I don't know whether the planning permission currently valid on it would complicate matters but I'd be shocked, having seen the physical and structural condition of areas of that neglected stadium, if it were worth £4.5m...

I’m not ITK as I have said a few times. Thank God, I would add currently, as there are so many contradictory versions of the truth. Ron says he never wanted £10m for RH. Lies we are told ask AF. AF not only hasn’t backed that up it appears but has said Kimura don’t have the money. Rubbish we are told AF doesn’t know what’s going on and that’s not right…well she either knows what is going on or she doesn’t…I don’t know…in fact how do I know she is even quoted accurately here…

Like most I have no evidence there is any bid in, let alone how big and by how much. When people ask these questions there is no direct answer- all the direct communication comes from Ron and no party directly involved in any such bid is prepared to comment directly. Not sure ITKs directly answer any of these questions either.

On the question of the value of RH. I think in a way it’s driven by what suits the eyes of the beholder. For many it suits to believe RH can’t possibly be worth £4.5m.

Well it isn’t worth £4.5m just because that’s what Ron paid. But if Ron insists it’s £4.5m and not a penny less I would be acutely aware that the RH site has planning permission for 502 residential properties. Kind of can’t miss it can you?

So if you asked an independent valuer to come and value it as that then it’s going to be way more than £4.5m?

Surely any serious buyer would at least look at the RH site as per the planning permission (which also includes the land at I think 297-301 Victoria Avenue..I may be misremembering house numbers) and overlay the current stadium onto the development site. This would suggest some or all of the residential blocks B & C could still be developed or a modified version thereof?

This development would possibly recover the stadium cost/ fund some of the stadium redevelopment. I assume the buyer would want to make sure they are getting the RH stadium including the extra land so they have the full RH development site? They must have clarified/asked the question?

Of course longer term they could still develop the remainder of the site and look to move.

Unfortunately the reported buyers are not coming out of the shadows at this point, let alone confirming they are pursuing any wider vision for RH phase 1, Phase 2 and future goals. But I would be asking the question, as I say surely any potentially buyer would? If they aren’t actively looking at wider development at RH then they also probably won’t understand the valuation…

I seem to remember Carl was also asking the same/similar questions on one of the Twitter calls but it didn’t really get picked up on.

It seems the longer this goes on the less we know…no warranties implied or given..