The Sale Of The Club Is Underway!

[TheSouthendUnitedRunner]

I know from your previous posts that you are often on the money. I sincerely hope you are 100% bang on this time.

They better be rich, very very rich !!

Must admit, I’m hoping they are rich enough to rid us of RM altogether. I don’t mind RM making millions off of the property side of it, but I don’t want him as a landlord. We need a clean break.

They don’t have to be billionaires though. Personally, I like the model we have adopted of lower league signings, with the odd proven NL player dotted around to supplement the team. Instead of big transfer fees and huge wages, like Wrexham have done.

However, like Wrexham, I’d love our owners to be involved in the community, building the bridges RM has burnt, doing all the positive PR stuff and making us sustainable.

Yes, initially, like Wrexham, I’m sure we’ll post some big initial losses but long term, I’d like that to be the exception and not the rule.

Obviously, I wouldn’t sit here and knock our new owners if they wanted to “buy” success, but in an ideal world, the money we spent would be money we generate either through player sales, or an fantastic commercial department.

 

[CaptainSmudger]

Come on we need Swiss Tony.

'Selling a football club is very much like making love to a beautiful.woman'

Add your quotes now.

Every Beautiful Woman I have tried to seduce, has told me to F Off!

 

[Cricko]

Tbh i am worn out to the point of oblivion with it all..20 tears or is it years.....Eventually it breaks you down to whatever will be.

My enthusiasm for us has never wained so far.

 

[Tinks]

Tbh i am worn out to the point of oblivion with it all..20 tears or is it years.....Eventually it breaks you down to whatever will be.

Absolutely agree

I think the only people that know all the details at the moment is the seller and the buyer and any solicitor involved in it - the rest is just pure speculation.

I have e to say I feeling a little more optimistic than a was previously and let us all hope there is a sale going through and we can finally be rid of the man currently causing all the issues

 

[CaptainSmudger]

Tbh i am worn out to the point of oblivion with it all..20 tears or is it years.....Eventually it breaks you down to whatever will be.

My enthusiasm for us has never wained so far.

I think that goes for all of us! We have got to hang on in there and our day will come. COYB, UTB

 

[davewebbsbrain]

For some reason this is headline news in The Irish News.

Perhaps one of the interested parties is Toby Sure

 

[Jai]

Not quite, this is not new information:

It was also disclosed in court that the sale of the club is underway.

The club’s solicitor said: “The sale of the club is underway and progress is being made.
Agents have been appointed."

Blues' winding up petition adjourned for 56 days

SOUTHEND United have been given another 56 days to settle a winding up petition from HMRC.

www.echo-news.co.uk

There was a little more than that. Unfortunately my shorthand was not up to the job to catch it verbatim, but on the 20/4 an investment memorandum was signed with interested parties. I am a lay person and am not sure what that means, but it is a little extra to what has been reported.

 

[Blues4LifeDan]

Tbh i am worn out to the point of oblivion with it all..20 tears or is it years.....Eventually it breaks you down to whatever will be.

My enthusiasm for us has never wained so far.

I totally understand Cricko. I bought a season ticket for next season and normally by this stage I'd be thinking about players leaving, new players, preseason games, fixture list date and planning away days. I can't think about any of those things if I'm honest. There are people talking about players leaving or staying but for me, it goes beyond that. Players, managers and chairman (hopefully) come and go, but the fans remain. That's what we have to do, remain United and stay together until the end. You've done this many years, hang on in there mate.

 

[Medway Blue]

There was a little more than that. Unfortunately my shorthand was not up to the job to catch it verbatim, but on the 20/4 an investment memorandum was signed with interested parties. I am a lay person and am not sure what that means, but it is a little extra to what has been reported.

Yeah Jai that's exactly what was said. Essentially a Heads of Term agreement. I forgot it was mentioned in court, so erroneously told another poster earlier that it hadn't been. Oops! Means that some form of DD could have been taking place since then though, so might be a decent distance along in the process already.

 

[Napster]

There was a little more than that. Unfortunately my shorthand was not up to the job to catch it verbatim, but on the 20/4 an investment memorandum was signed with interested parties. I am a lay person and am not sure what that means, but it is a little extra to what has been reported.

20/4 sounds like Snoop Dogg

 

[crangoner]

20/4 sounds like Snoop Dogg

Could be Jack Bauer.

 

[united we stand]

I Must admit, I’m hoping they are rich enough to rid us of RM altogether. I don’t mind RM making millions off of the property side of it, but I don’t want him as a landlord. We need a clean break.

They don’t have to be billionaires though. Personally, I like the model we have adopted of lower league signings, with the odd proven NL player dotted around to supplement the team. Instead of big transfer fees and huge wages, like Wrexham have done.

However, like Wrexham, I’d love our owners to be involved in the community, building the bridges RM has burnt, doing all the positive PR stuff and making us sustainable.

Yes, initially, like Wrexham, I’m sure we’ll post some big initial losses but long term, I’d like that to be the exception and not the rule.

Obviously, I wouldn’t sit here and knock our new owners if they wanted to “buy” success, but in an ideal world, the money we spent would be money we generate either through player sales, or an fantastic commercial department.

I dream of when we had the “blues country “ advertising (around 15 years ago?) I used to run a kids football team and seeing loads of kids of all ages training in the park on a Saturday and with more SUFC kits that arsenal,WH etc.

The was so much optimism , ( new stadium ) a great squad and a connection between the team , the supporters and dare I say it the chairman.we were community club of the year and it was a good time to be a supporter even with the relegations that were to come

 

[hlane17]

I dream of when we had the “blues country “ advertising (around 15 years agoI 15?) I used to run a kids football team and seeing loads of kids of all ages training in the park on a Saturday and seeing more SUFC kits that arsenal,WH etc.

The was so much optimism , ( new stadium ) a great squad and a connection between the team , the supporters and dare I say it the chairman.we were community club of the year and it was a good time to be a supporter even with the relegations that were to come

I was one of those kids running about in a SUFC kit during Saturday training.

Now I'm doing coaching myself. I only saw one Shrimper in the last session I did.

 

[Smiffy]

I dream of when we had the “blues country “ advertising (around 15 years agoI 15?) I used to run a kids football team and seeing loads of kids of all ages training in the park on a Saturday and seeing more SUFC kits that arsenal,WH etc.

The was so much optimism , ( new stadium ) a great squad and a connection between the team , the supporters and dare I say it the chairman.we were community club of the year and it was a good time to be a supporter even with the relegations that were to come

Those were the days of Garry Adamson and later Tara Brady. Two excellent people that were good at what they did and best of all, communicated with the fans.

 

[Big Bad Barry Corr]

Those were the days of Garry Adamson and Tara Brady. Two excellent people that were good at what they did and best of all, communicated with the fans.

Never knew Tara Brady but Garry Adamson was a great fellow and did a great job at the club. Oh for his like behind the scenes now

 

[kentblues]

Well an "investment memorandum" and "heads of terms" are two very different things.

An investment memorandum a comprehensive overview of a company, with the express intention of receiving investment and is shared by the agent/company seeking the investment among potential investors. So seeking a buyer.

Heads of terms is where the transaction is agreed in principle between parties in the course of negotiations. So still a way to go perhaps, and nothing is agreed until everything is agreed, but barring surprises clearly positive.

So which was said is somewhat important...

Note all prospective buyers will likely have the investment memorandum, one some or none be at the heads of terms stage..

 

[united we stand]

Those were the days of Garry Adamson and Tara Brady. Two excellent people that were good at what they did and best of all, communicated with the fans.

I’m fairness I think it started pre Tara as Tilson was manager. https://www.mediastorehouse.co.uk/s...ues-country/blues-country-launch-1271908.html

 

[Leeboy]

Those were the days of Garry Adamson and Tara Brady. Two excellent people that were good at what they did and best of all, communicated with the fans.

Hence why they didn't last long - especially Tara - Ron didn't like him giving 'secrets' away to the fans
I got to know Tara quite a bit around 2011 / 2012 - top bloke but seriously gagged by the hierarchy

 

[hlane17]

Well an "investment memorandum" and "heads of terms" are two very different things.

An investment memorandum a comprehensive overview of a company, with the express intention of receiving investment and is shared by the agent/company seeking the investment among potential investors. So seeking a buyer.

Heads of terms is where the transaction is agreed in principle between parties in the course of negotiations. So still a way to go perhaps, and nothing is agreed until everything is agreed, but barring surprises clearly positive.

So which was said is somewhat important...

Note all prospective buyers will likely have the investment memorandum, one some or none be at the heads of terms stage..

You're correct that there's a difference between HoT and an investment memorandum issued to interested parties.

Heads of terms can be signed at any point in a negotiation stage of a transaction, it really depends on how serious and confident the parties are in making a deal. Parties can also sign a new HoT at any point during the negotiation stage.

One thing I would also say, is no party would sign a HoT if they were not seriously invested in making a deal happen, in my humble opinion anyway.

The terms are not legally enforceable but it's bad form to sign off on terms and subsequently withdraw without a really good reason.

 

[kentblues]

You're correct that there's a difference between HoT and an investment memorandum issued to interested parties.

Heads of terms can be signed at any point in a negotiation stage of a transaction, it really depends on how serious and confident the parties are in making a deal. Parties can also sign a new HoT at any point during the negotiation stage.

One thing I would also say, is no party would sign a HoT if they were not seriously invested in making a deal happen, in my humble opinion anyway.

The terms are not legally enforceable but it's bad form to sign off on terms and subsequently withdraw without a really good reason.

Quite, hence I wonder if heads of terms was mentioned.