SUFC: The Future SUFC up for sale

[Callum]

Has Ron packed his bags yet or this clown still going to be chairman for the season

 

[Mad Cyril]

I am absolutely delighted the staff have been paid.

 

[CRATE]

Another step forward! Paying the football creditors. Paying the employees are very evidential steps forward. And is manoeuvring the asset (what’s left anyway) into a position where an acquisition can take place.

I wish, the same as everyone, things could be a hell of a lot quicker. But anyone who understands businesses and acquisitions will know certain steps must be completed before the final part can take place.

Positive evening, wins on and off the pitch!

 

[Che's Left Foot]

Anyone who wants a “pick me up” and an escape from the doldrums, the playoffs final is about to be shown again on Sky sports.

THIS CLUB DOES NOT KNOW WHEN IT IS BEATEN

How prophetic

 

[Mr Browns Ghost]

If true, how do you know this?. I read he awards himself £300k per year 'consultancy fees' ( FFS! ) from the club?. If again this is correct, then that is what the £300k is used for amongst other things?.
I'm not for one moment condoning this, i think it's disgusting if true?.

A consultant for what ? What’s he a consultant of that Southend United need ? Remember it can’t be for the football stadium he was trying to build because that’s not for Southend United. He would be letting Southend use it under tenancy .. so the consultancy can’t be that… so what is he charging us £300,000k for

 

[Linda Loan Shark]

So are we starting the season with Ron? Hope not but seems likely

 

[fbm]

As I said at the weekend, this is all about preserving the club as an asset so it can be sold.

Positive but small steps.

The next step will be the embargo but the club will need more money for that. I wouldn't be surprised if that wasn't able to be released just yet.

Everyone has got very excited (understandably) about Ron's terms and the 5 businessmen. However, these are just the headlines and as always the devil will be in the detail. These will be things like the other creditors, the charges on RH and the overage clause that Ron will want built in and which is standard when you sell a land cheaply for development. Someone else mentioned it on here recently but no-one picked up on it and my colleague and I were speculating about this today. Ron will almost certainly want a slice of the development profits if he sells RH and it is developed for housing at a later stage; he would be mad not to. Also, FF is dependent upon RH being ultimately developed as there isn't room for two sports stadia in the town.

This is an interesting position and may indicate that the revised planning on FF is very close so that he can develop what he wants there. That could release another tranche of funds which will enable him to allow the club to limp along until FF is built and then he can sell and disappear. He may therefore be around for a while yet.

This also obviously explains why he is - at the very best analysis - slow pedalling any sale. What was urgency and panic a few weeks back has now subsided and to me it looks like he has found a way of easing the pressure in the short term. As @CRATE says, things are quiet because something may be going on in the background and they have to be, but it could also mean that nothing is actually going on in the background at all.

Look, I have no idea, these are just thoughts, I have no inside info at all and may be completely wrong.

But one thing is for certain in my opinion - he isn't going to let the club die. That means we have a team to support which is, after all, the main point here. That's the constant and the bit we all have in common.

Finally people, as I have again said before, please, please PLEASE understand...

It is not "Ron's money".

IT IS THE CLUB'S MONEY.

The club is a completely different legal entity to Ron.

Ron may have put it there by realising family assets as he told the judge he would at the first hearing. There could have been a payment of sponsors money. There could be part of a sell on fee received by the club.

I don't know and none of us on here I suspect have any idea exactly how or when the club is funded. This is not our business, frankly.

But it is the club - not Ron - that needs the money so that the club - not Ron - can pay the club's bills.

 

[Joshy boy]

Another step forward! Paying the football creditors. Paying the employees are very evidential steps forward. And is manoeuvring the asset (what’s left anyway) into a position where an acquisition can take place.

I wish, the same as everyone, things could be a hell of a lot quicker. But anyone who understands businesses and acquisitions will know certain steps must be completed before the final part can take place.

Positive evening, wins on and off the pitch!

Let’s goooo Jack! A 1-0 win is always miles better than a draw or a loss especially with how thin our squad is. Remember SMALL STEPS AT A TIME ️

 

[bazzashrimper]

As I said at the weekend, this is all about preserving the club as an asset so it can be sold.

Positive but small steps.

The next step will be the embargo but the club will need more money for that. I wouldn't be surprised if that wasn't able to be released just yet.

Everyone has got very excited (understandably) about Ron's terms and the 5 businessmen. However, these are just the headlines and as always the devil will be in the detail. These will be things like the other creditors, the charges on RH and the overage clause that Ron will want built in and which is standard when you sell a land cheaply for development. Someone else mentioned it on here recently but no-one picked up on it and my colleague and I were speculating about this today. Ron will almost certainly want a slice of the development profits if he sells RH and it is developed for housing at a later stage; he would be mad not to. Also, FF is dependent upon RH being ultimately developed as there isn't room for two sports stadia in the town.

This is an interesting position and may indicate that the revised planning on FF is very close so that he can develop what he wants there. That could release another tranche of funds which will enable him to allow the club to limp along until FF is built and then he can sell and disappear. He may therefore be around for a while yet.

This also obviously explains why he is - at the very best analysis - slow pedalling any sale. What was urgency and panic a few weeks back has now subsided and to me it looks like he has found a way of easing the pressure in the short term. As @CRATE says, things are quiet because something may be going on in the background and they have to be, but it could also mean that nothing is actually going on in the background at all.

Look, I have no idea, these are just thoughts, I have no inside info at all and may be completely wrong.

But one thing is for certain in my opinion - he isn't going to let the club die. That means we have a team to support which is, after all, the main point here. That's the constant and the bit we all have in common.

Finally people, as I have again said before, please, please PLEASE understand...

It is not "Ron's money".

IT IS THE CLUB'S MONEY.

The club is a completely different legal entity to Ron.

Ron may have put it there by realising family assets as he told the judge he would at the first hearing. There could have been a payment of sponsors money. There could be part of a sell on fee received by the club.

I don't know and none of us on here I suspect have any idea exactly how or when the club is funded. This is not our business, frankly.

But it is the club - not Ron - that needs the money so that the club - not Ron - can pay the club's bills.

It is the clubs money, but the funds have seemed to be intertwined closely over, perhaps the last 15 or so years. If that picture of a SUFC helicopter at his sons wedding together with various other tales are to be believed, that would be more evidence of intertwining. Of course he could argue he put that extra money in so he’s taking it back out - but I would that show up in the balance books?

The strange thing is - other people own 30% of the club.

 

[Prawn]

I'm glad thing's have gone quiet for a little while.

It was getting very hectic (understandably) around the HMRC court case.

I think the majority of fans knew that the sale of the club would be a laborious.

Thing's slowly seem to becoming brighter with the staff being paid, football debts being paid and possibly the safety certificate being in place.

Hopefully we'll start to see some movement on the takeover soon. I think the whole Kimura episode was stirred up by them, which in turn stirred up the fans, getting their expectations up for a quick sale.

This whole off season was all about the sale of the club. It is very important but it consumed everyone's mind.

I'm just looking forward to the season starting and their being more football related posts.

 

[* ORM *]

Everything was stirred up by the 95% done post. As simple as that.

 

[Holy Joe]

It is the clubs money, but the funds have seemed to be intertwined closely over, perhaps the last 15 or so years. If that picture of a SUFC helicopter at his sons wedding together with various other tales are to be believed, that would be more evidence of intertwining. Of course he could argue he put that extra money in so he’s taking it back out - but I would that show up in the balance books?

The strange thing is - other people own 30% of the club.

I think we've already established that there was no Southend United helicopter at his son's wedding

 

[Westcliff DGS]

Reading the echo report just now and KM says he cant sign anyone nail the football creditors are paid, i thought it was the HMRC that needed to be paid…..

Southend United boss Kevin Maher addressed the small size of his squad in the aftermath of Tuesday night’s 1-0 win at Canvey Island.

With Dan Mooney, Louis Lomas, Callum Powell and Noor Husin missing the Shrimpers latest pre-season clash, Maher currently has just 10 fit contracted players at his disposal.

And, when asked by the Echo if he was able to add to his squad, Maher said: “I don’t know. When football creditors are paid and up to date I think that’s a conversation we can have.

“We look forward to seeing what we can do off the back of that. “I’m not sure yet but we’ll be looking at it and seeing what we can do moving forward." Blues have been in a transfer embargo since September due to money owed to HMRC.

 

[West Stand]

No he did not sell more land to pay the staff .It was part of the money the court let the club have ..Ans it was said the poor staff should be paid by at least weds .So finaly the poor staff can pay there way with what was owed to themm .And about time to 4 months to late Ron .This should never have happened .

The court didn’t let the club have at all. All they did was agree that Football creditors could be paid.

We know that £52k of the reported £300k due came from the PL the question then is where did the £248k come from?

I have my thoughts where that money originated based on nothing more than a feeling I won’t say anymore as to that but I very much doubt it came from the clubs coffers or indeed RM. I also get the feeling that come payday this month everyone will be paid on time . I would add hopefully.

This is as we all know are at very delicate point irrespective of where things are re RM selling his majority shareholding but the timing of matters pre season and the soon to commence 23/24 season in effect painted RM into to a corner

I have stated previously how I think things will play out in terms of a CVA but the concern irrespective of how matters are come the adjourned WUO is that debts aren’t settled at that point in time will be that several games will have been played and in all likelihood HMRC will be owed another sizeable wedge which almost certainly will result in another WUO being issued that is unless either:


1) There is courts protection which comes about in certain circumstances .
2) All debts have been settled . Possible but unlikely
3) The NL expels the club

 

[gpd]

Everything was stirred up by the 95% done post. As simple as that.

That optimism seems such a long time ago now...not aged well since.

 

[West Stand]

Reading the echo report just now and KM says he cant sign anyone nail the football creditors are paid, i thought it was the HMRC that needed to be paid…..

Southend United boss Kevin Maher addressed the small size of his squad in the aftermath of Tuesday night’s 1-0 win at Canvey Island.

With Dan Mooney, Louis Lomas, Callum Powell and Noor Husin missing the Shrimpers latest pre-season clash, Maher currently has just 10 fit contracted players at his disposal.

And, when asked by the Echo if he was able to add to his squad, Maher said: “I don’t know. When football creditors are paid and up to date I think that’s a conversation we can have.

“We look forward to seeing what we can do off the back of that. “I’m not sure yet but we’ll be looking at it and seeing what we can do moving forward." Blues have been in a transfer embargo since September due to money owed to HMRC.

Football creditors aren’t, it seems , part of the WUO but they will still be a factor when it comes to a club being put under an embargo and I would suspect even if the WUO order had been settled if there were football creditors its highly likely an embargo would remain in place

The club has subbed it nose at some many of its obligations. From failure to pay debts, pay wages, file returns maintain the stadium etc etc it’s no surprise that things have become so difficult. Easy to get into hellava a challenge to get out of

 

[Westcliff DGS]

Football creditors aren’t, it seems , part of the WUO but they will still be a factor when it comes to a club being put under an embargo and I would suspect even if the WUO order had been settled if there were football creditors its highly likely an embargo would remain in place

The club has subbed it nose at some many of its obligations. From failure to pay debts, pay wages, file returns maintain the stadium etc etc it’s no surprise that things have become so difficult. Easy to get into hellava a challenge to get out of

Thats fine (thought the embargo was just the HMRC personally), but he didnt mention the HMRC at all thats the point I have. So has that been settled? If not and the football creditors are can we sign players which I doubt.

 

[Somerset Ex-TTB]

Oh I miss the days of 27 pages of posts to wade through when I log in of a morning.

 

[rigsby]

I think we've already established that there was no Southend United helicopter at his son's wedding

Early this morning I watched the SUFC super yacht sail past me and I can assure you it was definitely the SUFC helicopter sitting on the pad.

Judging by the amount of Eastern European girls parting on board I'm convinced a sale must be close. Some on here need to realise even if you finish bottom of the EFL you still make several £million as an owner.

 

[Smiffy]

Thats fine (thought the embargo was just the HMRC personally), but he didnt mention the HMRC at all thats the point I have. So has that been settled? If not and the football creditors are can we sign players which I doubt.

The NL will require us to clear any football related debt (money owed for transfers/loans/agents etc) AND also any outstanding HMRC debt. This is because it will be seen as a "competitive advantage" over other clubs, if neither of those are paid and up to date. Until all of that is settled, the embargo will remain. That is my understanding anyway.

I'm not sure of the total figure, but it will certainly be a significant six figure sum required to clear it all. The HMRC bill will be growing very quickly by the day as well, so will be quite a lot larger than the figure that has been reported. It is also payday again shortly, so let's see how that goes, as obviously that has a bearing on the embargo as well.