Barling Magna
President⭐🦐

Southend United stadium redevelopment moves closer as deal agreed
The development will raise funds to help Southend United redevelop their stadium.
www.bbc.co.uk
I wonder how much has already been spent on getting the old girl sorted ?It is.
Would you borrow £12 million on the hope that the Martin’s are going to pay you back?I suppose that now the contracts are done and dusted POSU could borrow against the future funds should they wish not to wait
I believe that will happen when Planning Permission is granted at Fossetts. What has been agreed is only the start.Was it not said thar once the housing project was given the green light And cointracts were agreeded and signed off The Martin would hand over the keys to the hall .And the concortium will then own Southend united in full . And ron will no longer own the hall .
When the deal was done the agreed price for RH was 4.5 mill that was set to be paid over 3 years after which RH would be handed over to the consortium. In the meantime there was a lease agreement drawn up with no rental due.I believe that will happen when Planning Permission is granted at Fossetts. What has been agreed is only the start.
Yes, and the points i have made above.So, am I correct in thinking that now this DD has been passed the next step is the actual planning permission? I realise there's potentially loads of stuff after to get the properties built but this is the main bit we need to get Roots Hall back.
It is brilliant news for sure!
My only concern is relying on the Martin's to submit planning permission that actually gets passed quickly. To say they don't have a great track record is putting it mildly.
As @Liam AAS says that £20m was based on the original proposals.I thought the club was due to get £20m from the deal, not £12m. Or did I just make that up?
I don't think that COSU are paying anything for RH.When the deal was done the agreed price for RH was 4.5 mill that was set to be paid over 3 years after which RH would be handed over to the consortium. In the meantime there was a lease agreement drawn up with no rental due.
Yes, and the points i have made above.
Unless things have changed since @Liam AASI don't think that COSU are paying anything for RH.
The deal was adjusted down to £12 Million for it all to go through last July.I thought the club was due to get £20m from the deal, not £12m. Or did I just make that up?
1) those are Ron's words and therefore about trustworthy as a peado babysitterUnless things have changed since @Liam AAS
In view of the speculation surrounding the sale, and future of the club, I agreed when talking with supporters on Saturday to set down the principal terms we could accept.
It may not be the legacy I wished for the club, but the club’s survival is of most importance. The interested parties have shared the view for a simple deal.
There has been much misinformation and many inaccurate rumours. I hope this statement clears that up.
- The parent company will sell its entire shareholding in SUFC (70.6%) for £1.
- Roots Hall stadium £4.5m. This was the purchase price paid 25 years ago.
- We could agree to spread the purchase price of Roots Hall over 3 years with no rent payable in between.
- I am happy to sell the new training ground at cost.
- The money to fund the Club’s debt is not required on day one. The Club assesses the cash required in the short term, including settling HMRC (releasing the embargo), to be about £1m. The balance of debts (around £1.5m) can be spread over a period of time, as we have with many of our creditors.
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STATEMENT: SALE TERMS
In view of the speculation surrounding the sale, and future of the club, I agreed when talking with supporters on Saturday to set down the principal terms we could accept.www.southendunited.co.uk
DD that was successful this time, however.I see our favourite phrase 'DD' is rearing it's ugly head again........ **shudder**