SUFC: The Future SUFC up for sale

[Sherif H]

That to me seems factually true.

Indeed that is the case if taken literally.

 

[kentblues]

The accounts suggest that the company is some way beyond insolvent.

Yes but for example look at Col U? Even worse- £30m plus net liabilities. Many football clubs only survive because they are reliant on continued funding by the owner (often through their group companies). SUFC accounts get signed off on that basis also. Directors need reasonable grounds to believe the club is or can become solvent- either through such support (or indeed another event e.g. sale)

 

[hlane17]

Are we saying the stadium is owned by Julie, Jack and Tom and isn't in fact legally Ron's to sell ?

And one of the security fellas the other day was saying it's a bit personal turning up at their gaff, if anything this proves why we should

 

[Alexshrimper]

Indeed that is the case if taken literally.

So if the purchase of RH is needed we need tk be going applying pressure to Julie, Tom and Jack.

This could work in our favour?

It’s been said many a time that Julie gets annoyed at the protests but she is the one that holds the keys

If we turn the demonstrations to Julie and get luxury health clubs we might get more traction then Ron?

 

[Cricko]

So if the purchase of RH is needed we need tk be going applying pressure to Julie, Tom and Jack.

This could work in our favour?

It’s been said many a time that Julie gets annoyed at the protests but she is the one that holds the keys

If we turn the demonstrations to Julie and get luxury health clubs we might get more traction then Ron?

Nothing wrong with the latest technology at the club.

 

[Sherif H]

So if the purchase of RH is needed we need tk be going applying pressure to Julie, Tom and Jack.

This could work in our favour?

It’s been said many a time that Julie gets annoyed at the protests but she is the one that holds the keys

If we turn the demonstrations to Julie and get luxury health clubs we might get more traction then Ron?

I can't comment on targeting other people personally.
What needs to happen above all is a sensible discussion with Anna Firth and the City Council to sound them out about the possibility/possible options to acquire Roots Hall Limited in the correct manner.

 

[Colblue]

Yes but for example look at Col U? Even worse- £30m plus net liabilities. Many football clubs only survive because they are reliant on continued funding by the owner (often through their group companies). SUFC accounts get signed off on that basis also. Directors need reasonable grounds to believe the club is or can become solvent- either through such support (or indeed another event e.g. sale)

A lot of Col U fans don’t like Robbie Cowling as he does have some funny ways. All our debt though is internal and he has always promised he wouldn’t leave the club in a worse place than when he took over. He has built us a training ground as good as some prem and most championship facilities.
Also he’s never defaulted on wages or HMRC or any other bills.
I certainly wouldn’t swap for your basket case chairman

 

[Blue Yonder]

A lot of Col U fans don’t like Robbie Cowling as he does have some funny ways. All our debt though is internal and he has always promised he wouldn’t leave the club in a worse place than when he took over. He has built us a training ground as good as some prem and most championship facilities.
Also he’s never defaulted on wages or HMRC or any other bills.
I certainly wouldn’t swap for your basket case chairman

That's where it all goes wrong for us. Hope you have better luck.

 

[defender05]

So if the purchase of RH is needed we need tk be going applying pressure to Julie, Tom and Jack.

This could work in our favour?

It’s been said many a time that Julie gets annoyed at the protests but she is the one that holds the keys

If we turn the demonstrations to Julie and get luxury health clubs we might get more traction then Ron?

Or, call this a crazy idea, find someone who actual wants to buy the club and not hide in the shadows like the 'frightened five'.

 

[* ORM *]

Oooooh who’s going to start page 1,000?

 

[Sherif H]

Yes but for example look at Col U? Even worse- £30m plus net liabilities. Many football clubs only survive because they are reliant on continued funding by the owner (often through their group companies). SUFC accounts get signed off on that basis also. Directors need reasonable grounds to believe the club is or can become solvent- either through such support (or indeed another event e.g. sale)

Note the difference in balance sheets compared to the Football Club's parent company...

 

[Uncle_Rons_Teapot]

Cheerful lot aren't we

 

[kentblues]

A lot of Col U fans don’t like Robbie Cowling as he does have some funny ways. All our debt though is internal and he has always promised he wouldn’t leave the club in a worse place than when he took over. He has built us a training ground as good as some prem and most championship facilities.
Also he’s never defaulted on wages or HMRC or any other bills.
I certainly wouldn’t swap for your basket case chairman

Now where have I heard that before.....hmm....oh yes almost word for word...
As you say you chairman hasn't defaulted or behaved like Ron thus far (nor did Ron until he did...). I sincerely hope nothing changes your end, and there are plenty of clubs in the same boat. But its a worry and ultimately it will remain so where clubs aren't run sustainably (i.e. without relying on significant on going external support).

 

[Colblue]

Note the difference in balance sheets compared to the Football Club's parent company...

View attachment 27786

That’s really interesting, I only wish I was experienced at looking at these things to understand what it’s telling me lol

 

[Sherif H]

That’s really interesting, I only wish I was experienced at looking at these things to understand what it’s telling me lol

The only thing you need see is the lack of brackets around that net assets figure - nigh on £30m in the black.

 

[GSW Shrimper]

Page 1000

 

[Holy Joe]

Anyone know if players and staff paid today?

 

[danbowen]

Dan, Ron confirmed in front of 20 fans on Saturday he has seen proof of funds from Goldman Sachs. Whilst stood outside his house. He can say as much as he wants regarding they don’t have the funds, but he himself said “I’ve seen proof of funds for many millions in Goldman Sachs”.

Appreciate the response however can you confirm a bid has been made or not by these 5 people yet? Not seen anything to suggest that one has officially been made.

 

[SS9_Shrimper]

Page 1000

Nearly

 

[Colblue]

Now where have I heard that before.....hmm....oh yes almost word for word...
As you say you chairman hasn't defaulted or behaved like Ron thus far (nor did Ron until he did...). I sincerely hope nothing changes your end, and there are plenty of clubs in the same boat. But it’s a worry and ultimately it will remain so where clubs aren't run sustainably (i.e. without relying on significant on going external support).

Robbie’s biggest failing by far is that the club don’t do nearly enough to market themselves locally. Colchester has grown massively over the last 2 decades and very little is done openly to attract those new residents to the club. He would really benefit too from appointing a supporters liaison officer as a lot of fans feel disconnected to what goes on in the club.
He must be doing something right though as January saw a massive budget for new players and we are looking at a couple of decent recruitments this week.
You’re 100% correct though, too many clubs at this level live by the seat of their pants and are overly reliant on a reliable and responsible owner.
Where we are lucky, live or loathe our ground, it does give a lot of additional non matchday revenue streams.
For you to keep RH and to develop that ground, how long would it be before you can rebuild the East stand to give those same opportunities