Supporters Forum 22nd Sept - Sainsbury Pulling Out?

[fbm]

Thinking about it, I'm not sure that it will very easy for Sainsbury's to pull out.

Money has changed hands, deals have been done with shop and business owners. Neither side are stupid and have big law firms looking after their interests.

Contractually I think they are pretty committed. Certainly if they did want to withdraw then I'm sure there would be some big penalty clauses or compensation that would be payable.

 

[OldBlueLady]

I still maintain that Sainsbury can't pull out because if they do then they are writing off a huge potential market, as they have nothing of note between Shoeburyness and Rayleigh in a massive catchment area.

 

[Jam_Man]

Thinking about it, I'm not sure that it will very easy for Sainsbury's to pull out.

Money has changed hands, deals have been done with shop and business owners. Neither side are stupid and have big law firms looking after their interests.

Contractually I think they are pretty committed. Certainly if they did want to withdraw then I'm sure there would be some big penalty clauses or compensation that would be payable.

Sainsbury will be making decisions on a much bigger scale than the 5-10 million they have already invested.

If they decide the future of their business is no longer in big superstores then they arent going to proceed with a massive store that they no longer want just to save that sort of money.

They may well of course decide they want it though, we will no doubt find out fairly soon.

 

[fbm]

Sainsbury will be making decisions on a much bigger scale than the 5-10 million they have already invested.

If they decide the future of their business is no longer in big superstores then they arent going to proceed with a massive store that they no longer want just to save that sort of money.

They may well of course decide they want it though, we will no doubt find out fairly soon.

I agree, but it may be about much more than the money already spent if they are contractually committed already.

 

[Jam_Man]

All we can do is speculate, we will certainly find out one way or the other!

 

[chapperzUK]

I swear we have been here before with Sainsburys "about to pull the plug" and it turned out to be false.

 

[lombard]

Sainsburys will still own Roots Hall.They might have use of another project for the ground,e.g. housing.They will not certainly write off the monies ,put into the project so far.Do not think Ron will get one over on Sainsburys ! Devious as he is,he will not come out of this any richer. The tin pot chairman is possibly bereft of any more ideas.

 

[mrsblue]

Sainsburys will still own Roots Hall.They might have use of another project for the ground,e.g. housing.They will not certainly write off the monies ,put into the project so far.Do not think Ron will get one over on Sainsburys ! Devious as he is,he will not come out of this any richer. The tin pot chairman is possibly bereft of any more ideas.

I think this is very accurate.

 

[Angell Delight]

This this and this again!

Ron will encourage Phil to play the loanee at every turn without fail.
So the idea of playing on merit is false.

Wrong. The main reason we didn't sign the kid Drury from Man City on loan was because MCFC wanted a guarantee that he would play every week, Brown told them he couldn't give them that assurance and the deal was dead.

 

[londonblue]

I still maintain that Sainsbury can't pull out because if they do then they are writing off a huge potential market, as they have nothing of note between Shoeburyness and Rayleigh in a massive catchment area.

Of course they can. They can pull out of a deal with us and go build elsewhere. The fact that this has taken so long and is still some way off coming to fruition is going to seriously impact their decision.

I just hope the accountants who are providing the investment analysis make it look viable even with those issues.

 

[Jam_Man]

Sainsburys will still own Roots Hall.They might have use of another project for the ground,e.g. housing.They will not certainly write off the monies ,put into the project so far.Do not think Ron will get one over on Sainsburys ! Devious as he is,he will not come out of this any richer. The tin pot chairman is possibly bereft of any more ideas.

Im not sure that is the case.

The money they have lent they did so to the parent company and secured against other things, I don't think they do own Roots Hall. To own Roots Hall will mean them paying in full, which if they pull out they wont have done surely.

As for writing off monies, you dont know that, they may well do so to save them further expenditure. Time will tell.

 

[Gt Yarmouth Shrimper]

]Sainsburys will still own Roots Hall[/B].They might have use of another project for the ground,e.g. housing.They will not certainly write off the monies ,put into the project so far.Do not think Ron will get one over on Sainsburys ! Devious as he is,he will not come out of this any richer. The tin pot chairman is possibly bereft of any more ideas.

Where'd you get that little gem from? Haven't you read or heard about the covenant on Roots Hall?

 

[Ricky Otto]

There will be a full report on the Trust Website later this week.

any idea when this will be up, looking forward to reading it

 

[Shrimperstrust]

any idea when this will be up, looking forward to reading it

Hopefully over the coming weekend.

 

[Ricky Otto]

Hopefully over the coming weekend.

Thanks, i'll keep an eye out

 

[united we stand]

Thinking about it, I'm not sure that it will very easy for Sainsbury's to pull out.

Money has changed hands, deals have been done with shop and business owners. Neither side are stupid and have big law firms looking after their interests.

Contractually I think they are pretty committed. Certainly if they did want to withdraw then I'm sure there would be some big penalty clauses or compensation that would be payable.

agreed- I posted the same point earlier

 

[united we stand]

Sainsburys will still own Roots Hall.They might have use of another project for the ground,e.g. housing.They will not certainly write off the monies ,put into the project so far.Do not think Ron will get one over on Sainsburys ! Devious as he is,he will not come out of this any richer. The tin pot chairman is possibly bereft of any more ideas.

Unless I am very much mistaken, didn't Sainsbuys write off their £250,000 down payment on Prospects when they did not complete?

 

[BrettieAngell]

Unless I am very much mistaken, didn't Sainsbuys write off their £250,000 down payment on Prospects when they did not complete?

Thats 250K not 7/8 million whatever it is, still not a large amount of money for a company like them but as has been mentioned before we don't know what the contract says.

 

[* ORM *]

Football clubs lose money because they earn less than they spend.

It is easy to avoid spending more than you earn of course. But if you spend less then you generally (not always such is the joy of football) have to sacrifice quality on the pitch. And as the playing talent gets poorer and results suffer so attendences fall which cuts your budget still further.

It isn't hard to see how we - and others - lose money. You just need a pen, paper and calculator.

But if football clubs were not allowed to spend less than they earned then we wouldn't have this situation. I'm amazed in this day and age that such practice is still accepted. Change the rules and make them run to make an operating profit or allow losses covered by reserves. Punish those that don't with massive points deductions and transfer embargoes.

 

[chapperzUK]

But if football clubs were not allowed to spend less than they earned then we wouldn't have this situation. I'm amazed in this day and age that such practice is still accepted. Change the rules and make them run to make an operating profit or allow losses covered by reserves. Punish those that don't with massive points deductions and transfer embargoes.

Isn't that what Financial Fair Play was about?