SUFC: The Future The Takeover - Very very close.

[dusterman]

That's what ****es me off the most. They are obviously good guys and have done the right thing morally to ensure people have their wages and no further sanctions can be imposed upon the club. But, they have been taken the **** out of by the rat and he can now sit back with no financial responsibilities and take his time to get the perfect offer that suits him and the offspring. It's genius, it really is.

Yeah, you have to have begrudging respect for someone with no morals. I wouldn’t want to be like that, I was taught not to be. But sadly, it’s these people who often flourish and get away with walking all over people. You see it in everyday life and rat boy is very adept at getting it his way. Why he took the club so many years ago, he knew he could use and abuse people’s loyalty. It’s premeditated and needs to be outlawed. Usually law comes down harder on business crimes and hopefully karma will do so to him.

 

[shrimperjon]

That part is no longer a sticking point mate. That was an issue between Martins and consortium, and would have no bearing on the Martins/council part of the deal.

Thanks James, confess ive got a bit confused now with it all

 

[Cricko]

yes i understand that, but if its the main reason holding this up from their perspective isnt it just best to let go of that part. How much longer will they be happy paying wages etc to keep the club going before enough is enough? problem is that they have already invested considerable funds into the club so would be hard to walk away now but common sense eventually must prevail and they decide thats it we cant go on

I don't think anything is holding them up at all, they are ready to go, it's The Rats dealings with the council that are in limbo. Maybe his backers want guarantees he cannot give them.

 

[Holy Joe]

Nobody else has really picked up on this yet, but it might be crucial. The fact that it will be lease properties might allow for some kind of legally-binding mechanism which satisfies all parties and minimises risk, without prejudicing planning.

Well quite - the previous lease agreement was agreed before planning I believe - hence I think this is something the council can do, subject to terms being acceptable.

 

[shrimperjon]

@Medway Blue @jphfitz hi guys, are the Trust trying to touch base with the Council today?

 

[Medway Blue]

Well quite - the previous lease agreement was agreed before planning I believe - hence I think this is something the council can do, subject to terms being acceptable.

Nail. On. Head.

I was hoping somebody else would say it, haha.

A lease agreement is legally binding without prejudicing planning, and my belief is that the signing of one of these is what might satisfy the council and Martins/minimise risk enough for the Martins to then sign over the club.

The final sticking point or two between council and Martins over the terms that you refer to is probably what is causing a delay.

We're hearing different things over whose fault that is, but it ultimately doesn't really matter. It's seems super close, but minds need to be focused and the final sticking point ironed out this week.

If that happens then we may get a nice Christmas present. If it can't be ironed out this week and a counter needs to be made by whichever side isn't quite happy, then it'll probably stretch into the New Year.

The consortium is applying pressure as they want it wrapped-up this month.

Keep your fingers and toes crossed that they get around a table very soon and come to an agreement.

 

[rigsby]

Much of this is of course true. However, a couple of things I would add. First on valuing what he has already, we have to net off all the debt secured against these sites/developments. He may well still be comfortably in the "black" or not, I don't know. Second irrespective of this, his issue is like cash flow/liquidity- asset rich cash poor, and nothing he can easily leverage further. I seem to remember the Dellal group of companies have back to back charges that would impact on his ability to fully leverage these assets?

In the end all I care about is the sale going ahead very quickly. And until then all parties are under the microscope...

Yes I'm not saying Ron is in a comfortable position. But neither is he the cornered rat that some claim.

I don't agree with others claiming it now just about control......That ship sailed some time ago. The is now zero advantage for Ron to keep the club. It makes no sense financially or for him personally......What he is doing is securing his long awaited pay day

 

[jphfitz]

@Medway Blue @jphfitz hi guys, are the Trust trying to touch base with the Council today?

Absolutely, we are in touch with the council. Will share any updates we get.

 

[kentblues]

Nail. On. Head.

I was hoping somebody else would say it, haha.

A lease agreement is legally binding without prejudicing planning, and my belief is that the signing of one of these is what might satisfy the council and Martins/minimise risk enough for the Martins to then sign over the club.

The final sticking point or two between council and Martins over the terms that you refer to is probably what is causing a delay.

We're hearing different things over whose fault that is, but it ultimately doesn't really matter. It's seems super close, but minds need to be focused and the final sticking point ironed out this week.

If that happens then we may get a nice Christmas present. If it can't be ironed out this week and a counter needs to be made by whichever side isn't quite happy, then it'll probably stretch into the New Year.

The consortium is applying pressure as they want it wrapped-up this month.

Keep your fingers and toes crossed that they get around a table very soon and come to an agreement.

Let's hope the next couple of days. Dragging it back to Kev and the players, they are desperate to get some bodies in now. We saw on Sat where we are at on fit players, and one or two selected are clearly carrying knocks. Sadly not sure either Ron or SBC are that bothered about this aspect.

I suspect it will be much easier to get players in without the embargo and all the restrictions that brings (including no permanent contract signings..)

 

[CaptainSmudger]

Absolutely this.

We are in a bit of a state I think.

Ron can't exactly take a leap of faith and just go for it unless he has got 100% guarantee in place about the new properties at FF. If he does and they don't grant it, he's lost pretty much everything (aside from whatever he gets from the sale) and we won't get our 20m either.

I can't see how the council can (legally and properly) give him that guarantee without planning permission being sorted, which is nowhere near happening as I don't think he's even put the plans in.

If it doesn't progress and the deal collapses, he then owns RH and FF, won't fund the club and we will have no option but to fold I would imagine. He can then sell both plots for development (albeit after a fight).

Please someone tell me I'm wrong or have missed something.

For What It Is Worth, I Think You Are Spot On!
And How We Get Out Of It , I Haven't Got A Clue

 

[meerkat54]

I don't think anything is holding them up at all, they are ready to go, it's The Rats dealings with the council that are in limbo. Maybe his backers want guarantees he cannot give them.

Do you think the backers have charges onRoots Hall. And they are reluctant to release them for the sale to go through.
perhaps they trust the as much as us.
It could be that I don’t have a clue what I’m talking about.

 

[Stan33]

Absolutely this.

We are in a bit of a state I think.

Ron can't exactly take a leap of faith and just go for it unless he has got 100% guarantee in place about the new properties at FF. If he does and they don't grant it, he's lost pretty much everything (aside from whatever he gets from the sale) and we won't get our 20m either.

I can't see how the council can (legally and properly) give him that guarantee without planning permission being sorted, which is nowhere near happening as I don't think he's even put the plans in.

If it doesn't progress and the deal collapses, he then owns RH and FF, won't fund the club and we will have no option but to fold I would imagine. He can then sell both plots for development (albeit after a fight).

Please someone tell me I'm wrong or have missed something.

Isn’t planning at FF dependent on SUFC as it’s green belt ? ie no football club no PP ?

 

[Cricko]

Do you think the backers have charges onRoots Hall. And they are reluctant to release them for the sale to go through.
perhaps they trust the as much as us.
It could be that I don’t have a clue what I’m talking about.

They are certainly loans tied to RH @kentblues knows more details on this.

 

[Shrimpergonzo]

yo

Premier league rules do not state that. Clubs can loan players out like they can sell players to any clubs at any point throughout the year providing the purchasing club is in an open transfer window or they need to wait for that to open to complete the transfer. For example, the Saudi league were able to continue signing players for about a week or two after the premier league window shut (almost happened with Salah in the last transfer window).

As our transfer window is open we are able to register (without the embargo) players who play for any team subject to the normal checks such as international clearance etc. the rules for EFL clubs did change (around 2016-17 I think) to stop them doing emergency loans for outfield players I believe and the idea of the premier league making this change was to try and stop them stockpiling players.

That’s interesting - I can certainly recall it being an issue when Kev & Co came into the club - possibly mentioned at the face to face meeting Stan held in the Shrinpers bar.

Have any prem players moved on loan to NL clubs outside the window this season? That would certainly prove your point.

 

[Liam AAS]

The council said thay want to help with the sale of the club by allowing the homes to be built on fossetts land . Well they has a very strange way of helping Slowing down the prosess is no help at all .Some of these concilors are ment to be season ticcket holders But they cant seem to grasp the need for this takeover to get over the line Am i thick or are they .

Don't ask questions you mightn't like the answer to.

 

[Liam AAS]

with the potential wealth within the consortium and no doubt links to further investment would it not make sense that the consortium just let the potential 20m from Ron go now to secure the deal. Is that the main part holding this up between Ron and the consortium at least. I appreciate there are issues between Ron and SCC but would the consortium letting that part of the deal go make a difference?

No, absolutely not.

 

[kentblues]

Do you think the backers have charges onRoots Hall. And they are reluctant to release them for the sale to go through.
perhaps they trust the as much as us.
It could be that I don’t have a clue what I’m talking about.

There are at this moment two oustanding charges both facilitated through CBRE

ROOTS HALL LIMITED charges - Find and update company information - GOV.UK

ROOTS HALL LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity

find-and-update.company-information.service.gov.uk

 

[shrimperjon]

No, absolutely not.

was clutching at straws

 

[fbm]

Isn’t planning at FF dependent on SUFC as it’s green belt ? ie no football club no PP ?

Because the plan has changed, the development at FF is no longer linked to the stadium being there (I'm not sure how they've got around that but that's what appears to have happened, so fair enough).

There is a covenant at RH that stops the land being developed until a suitable stadium is built elsewhere. But if the club has folded, there is no-one to enforce the covenant.

He will then own two pieces of prime development land in Southend.

 

[Shrimpergonzo]

Because the plan has changed, the development at FF is no longer linked to the stadium being there (I'm not sure how they've got around that but that's what appears to have happened, so fair enough).

There is a covenant at RH that stops the land being developed until a suitable stadium is built elsewhere. But if the club has folded, there is no-one to enforce the covenant.

He will then own two pieces of prime development land in Southend.

I think someone has said that the covenant is now null and void, but there is a planning condition/s106 agreement that stops any redevelopment at Roots Hall until there is another stadium of similar capacity (hence why there was the 10,000 3-sided plan at FF) which has the same effect.