SUFC: The Future SUFC up for sale

[GROWLER]

Here,s a thought.

Were not SBC going to "invest" £10 million to some out of towners to help them develop seaway car park.???
We now have a Heritage project that is vital to the whole community .
If that loot is sitting in a rainy day drawer somewhere the whole lot (RH,FF) can be bought for and by the people and owned by the people .
Plus also a guarantee that the houses get built .
Messrs "Shrimpers Trust" make a phone call, flash "The Covenant" and say I dare you to say no !!!

 

[londonblue]

What is Google ?

Google it.

 

[GROWLER]

If this comes off I want an Honorary wrist band from Mr Miller for life for Peter Pans Playground

 

[Dutch Branch]

Does anyone know actually what the debts of the club are and to whom they are owed too putting aside HMRC?

 

[borientater]

Does anyone know actually what the debts of the club are and to whom they are owed too putting aside HMRC?

why do you need to know all this stuff ? Are you gonna pay it

 

[Supa Shrimpa]

Does anyone know actually what the debts of the club are and to whom they are owed too putting aside HMRC?

Not exactly, because the 31st July 2022 annual accounts are still overdue. Should have been submitted by 30th April 2023.

 

[Tommy2holes]

So all of that supposed work going on in the background by "the 5" has of yet not yeilded anything. No bids, no imminent take over.

We just limp on while stuck on life support. Can't wait to get dicked away at dagenham

 

[Sherif H]

My views right now are that we/reps from the SUSCT should try and commence discussions with Anna Firth about how to best approach the City Council about the potential acquisition, and lease-back of Roots Hall to the SUSCT.

This is certainly a community asset, but I can't think of any grant funding which would enable us to get anywhere near a fraction of the asking price through these means alone.

In fact, allowing the Club to go in to administration would probably be our best bet - this is exactly how Bury fans managed to acquire Gigg Lane for a knock-down valuation...

 

[Dutch Branch]

Not exactly, because the 31st July 2022 annual accounts are still overdue. Should have been submitted by 30th April 2023.

There must have been a figure in the mix during the previous court hearings. Accounts only take us up to a certain point in time.

The WUP must have stated who’s owed what to the partitioners at least.

 

[ms brush]

My views right now are that we/reps from the SUSCT should try and commence discussions with Anna Firth about how to best approach the City Council about the potential acquisition, and lease-back of Roots Hall to the SUSCT.

This is certainly a community asset, but I can't think of any grant funding which would enable us to get anywhere near a fraction of the asking price through these means alone.

In fact, allowing the Club to go in to administration would probably be our best bet - this is exactly how Bury fans managed to acquire Gigg Lane for a knock-down valuation...

Which is exactly why we need some creative thinking! We are all guilty of the polarised all or nothing thinking, when there may well be a solution out there that could be utilised if these are explored more fully.

The examples I can think of are the Seaway idea, the Trust becoming a custodian, some sort of management buy-out. crowdfunding, the list goes on. Many of these ideas get shut down before a proper debate is started - so an open forum where no idea is a bad idea is needed in my view.

 

[Blue Yonder]

My views right now are that we/reps from the SUSCT should try and commence discussions with Anna Firth about how to best approach the City Council about the potential acquisition, and lease-back of Roots Hall to the SUSCT.

This is certainly a community asset, but I can't think of any grant funding which would enable us to get anywhere near a fraction of the asking price through these means alone.

Interesting this because up until now the response to anyone suggesting a fans consortium has divided the £9-£10 million allegedly required by a number of supporters and coming up with a number that is unrealistic. However if the stadium and land have a value presumably a certain amount could be borrowed against the asset, maybe grants available, and the actual sum to be raised up front maybe more manageable. What is achievable ? 1million ? that's £1,000 from 1,000 fans.

 

[Dutch Branch]

why do you need to know all this stuff ? Are you gonna pay it

Put it this way unless you have a starting point how can you expect to get it over the finishing line.

 

[Blue Yonder]

My views right now are that we/reps from the SUSCT should try and commence discussions with Anna Firth about how to best approach the City Council about the potential acquisition, and lease-back of Roots Hall to the SUSCT.

This is certainly a community asset, but I can't think of any grant funding which would enable us to get anywhere near a fraction of the asking price through these means alone.

In fact, allowing the Club to go in to administration would probably be our best bet - this is exactly how Bury fans managed to acquire Gigg Lane for a knock-down valuation...

Just one thing though.. if our club goes into administration the stadium isn't part of it is it ? so couldn't be bought back from the administrator ?

 

[Tangled up in Blue]

'You're putting people off' - Ron Martin's words to protesting Blues fans

SOUTHEND United chairman Ron Martin has told supporters protesting outside his house they are putting people off buying the club.

www.echo-news.co.uk

See our esteemed Chairman-cough- has told protesters outside his home that "they're putting off people buying the club." Don't think so Ron.

 

[Sherif H]

Interesting this because up until now the response to anyone suggesting a fans consortium has divided the £9-£10 million allegedly required by a number of supporters and coming up with a number that is unrealistic. However if the stadium and land have a value presumably a certain amount could be borrowed against the asset, maybe grants available, and the actual sum to be raised up front maybe more manageable. What is achievable ? 1million ? that's £1,000 from 1,000 fans.

It may be that the best approach is a 50/50 share between the Trust and the City Council, however we all know that Local Government is not flush with disposable cash, so this is why I think it needs and urgent discussion with Anna Firth.
If the SUSCT wishes to make the introduction, I am happy to try and help where I can re. means and ways of increasing the value of Roots Hall over time...

 

[number11]

My views right now are that we/reps from the SUSCT should try and commence discussions with Anna Firth about how to best approach the City Council about the potential acquisition, and lease-back of Roots Hall to the SUSCT.

This is certainly a community asset, but I can't think of any grant funding which would enable us to get anywhere near a fraction of the asking price through these means alone.

In fact, allowing the Club to go in to administration would probably be our best bet - this is exactly how Bury fans managed to acquire Gigg Lane for a knock-down valuation...

I think that our problem is that the club and Roots hall are owned by different entities - if the club went into administration the stadium wouldn’t be in the administrators pot like Gigg Lane was - so we wouldn’t have the possibility of buying like Bury fans (and Exeter before it).

Wouldn’t you really have to have the fans buy both-(possibly with govt / council assistance) then put SUFC Ltd into admin or liquidation and then put the Phoenix club in roots hall now owned by the fans - debt free but playing in some lowly pyramid league …

 

[Cricko]

Club faces Monday deadline over safety certificate - BBC News

An "army" of fans helped clean up Southend United's ground but the club faces a race against time.

www.bbc.co.uk

Southend United: National League club faces deadline over safety certificate​

32 minutes ago

Southend United's 117-year history is under threat
A football club must obtain a new safety certificate for its stadium by 17:00 BST or face missing Saturday's opening game of the season, an MP says.
Financially-troubled Southend United needs approval from Southend Council to play at Roots Hall stadium.
Anna Firth, the Conservative MP for Southend West, said club owner Ron Martin must also submit licensing documents to the league by 17:00.
The BBC has approached the council for comment.
The National League club is due to host Oldham Athletic at the weekend.
Southend United - which dropped out of the Football League at the end of the 2020-21 season - has been before the courts a number of times in recent months, with an order being made in May to ensure the club's survival by allowing the payment of players and accountants.
The club has debts of £2.5m - about £300,000 of which is owed to football creditors. It also has to pay off a £275,000 tax bill.
Last week it paid the wages of staff for the first time in three months. The Shrimpers are due back in court over their debts on 23 August.
Mr Martin, the club's owner for 25 years, has repeatedly stated he intends to sell the 117-year-old club.

More than 100 volunteers turned out to help Roots Hall stadium obtain a new safety license
On Sunday, more than 100 fans turned out at Roots Hall to clean and paint the stadium in an effort to help it gain a new safety license.
Mrs Firth, who joined the effort, praised the "army" of supporters who helped and said Blues fan Lawrence Austin who organised the event "deserved a medal".
Speaking to BBC Essex the MP said "the fans had done the club proud", but added some facilities, including the changing rooms, were in a "woeful" state.
"Everyone knows that if you're selling your house, you get a lot more for your house if your kitchens and bathrooms look good," she said.
Work was also needed to improve the pitch which has been damaged by fox holes.

 

[Leeboy]

National BBC news - Ron will hate that painting him in a bad light.

 

[Linda Loan Shark]

I have a fear that when Ron hands the club over to his family in a few years time his son will be even worse.

It doesnt look like he will ever sell so thats what I think might happen in the future

 

[kentblues]

Is Roots Hall worth 4.5 million without the football club ???
Seems to me it’s a better investment if you don’t have to keep losing money by supporting a failing business. Perhaps this is what Ron is waiting for

Well with planning for 502 residential units clearly yes I would say. We can’t just continue ignoring this, whilst saying £4.5m is too much ( well I expect we will try if it’s deemed inconvenient..).

In addition, it’s not necessarily either or. In theory you could retain the stadium and pursue a more limited version of the RH development. Again this would potentially make the asking price very attractive.

The danger is another property developer will understand this if we and the current potential buyer can’t…

Or Ron starts to think he can do RH development in two phases, and move stadium to last phase at FF and complete RH development (phase 2 thereafter).