SUFC: The Future The Takeover - Very very close.

[BoyWonder2]

Embargo can't be lifted without a sale surely? Or am I plain wrong?

We just need to pay all outstanding football creditors and HMRC. Can still happen under RM’s watch…

 

[shrimperjon]

Embargo can't be lifted without a sale surely? Or am I plain wrong?

wondering with the news just released and obvs more that we arent aware of that an agreement has been reached with the NL and of course pressure from Anna Firth

 

[hlane17]

National league could remove it.

National League doing something helpful for Southend? Surely not...

 

[Supershrimper]

Today is Christmas Eve. Please let tomorrow be Christmas Day. I would love to see a corner flag on the Official Site. Would love to see all members of the consortium holding an extended scarf in the air. But I don't want the deal held up whilst one is made

 

[Massimo Giovanni]

Do you reckon this issue is a reason behind the hold up...? https://www.echo-news.co.uk/news/23...dyXzUPagXi--nX5XdgpC4j0AapnpLYBbDLfYfZ_XTBziA
The argument is that the land 'gifted' to Southend United should now be used to widen the Cuckoo Corner junction. If that is more than just someone blowing smoke, this will have a significant impact on the Rat and Baby Rat housing plans... pure speculation on my part, and I hope i am a country mile off reality! However, if there is any mileage in this it could explain the delay

I can't think where any bit of Victory Sports Ground is involved, it hasn't changed one yard. Jones's Memorial may be the section adjacent to B&L but neither location has any impact on the Priory Crescent main story or the club sale imo.

 

[hlane17]

We just need to pay all outstanding football creditors and HMRC. Can still happen under RM’s watch…

Very risky move as we can likely make an educated guess as to who is paying it, and it won't be Rat Martin or his rat son either.

 

[Redbridge Blue]

Is this it!!!!!!!

 

[shrimperjon]

Another thing, weren't we told that the new consortium members wouldn't be officially named until the sale was complete? If so they've just been named, rumours of embargo lifting etc. This has to be the most positive day for the club, fans, Kev in months if not a couple of years. Have a feeling it could be party time of the terraces Saturday

 

[BoyWonder2]

Very risky move as we can likely make an educated guess as to who is paying it, and it won't be Rat Martin or his rat son either.

Of course not, which is why it hasn’t happened yet despite JR et all putting over half a million in so far.

Can see this happening very soon however.

 

[shrimperjon]

Very risky move as we can likely make an educated guess as to who is paying it, and it won't be Rat Martin or his rat son either.

they did say last thursday that they wouldnt pay it off until the takeover didnt they? as it was too much of a risk

 

[southendkid]

Given the terms of sale seem to have been agreed could that be enough to convince the NL to lift the embargo even if the debts won't be paid until the sale goes through?

 

[Smiffy]

Blues deal edges closer as Ron Martin agrees terms with council

SOUTHEND United chairman Ron Martin and Southend City Council leader Tony Cox have agreed terms relating to the residential development of Fossetts…

www.echo-news.co.uk

SOUTHEND United chairman Ron Martin and Southend City Council leader Tony Cox have agreed terms relating to the residential development of Fossetts Farm.

The deal had been the last major stumbling block in Justin Rees and his consortium completing their takeover of the club as it was a requirement for the Shrimpers to stay at Roots Hall under the new ownership.

The agreement is still subject to cabinet approval in early 2024 but there there is now said to be sufficient confidence to proceed with the sale of the football club to the consortium.

The Echo has previously revealed that joining Australian Rees in the consortium are David Kreyling and Tom Arnold, the Founders of CSL Group which drives sport for social change, Hong Kong based hedge fund manager Jason Brown, John Watson, the owner of packaging and taxi businesses and Gary Lockett the chairman of the Southend United Community & Educational Trust.

They will be joined by the son of former MP Teddy Taylor, George who is a Hong-Kong based investor and is currently a director at Scottish Premiership giants Rangers.
And the Echo can now confirm Paul and Ian Redbourn are also part of the consortium.

The remaining work needed to complete the sale of the club to the consortium is procedural in nature and further updates will be provided when an exact date is confirmed.

The consortium have been funding the club in recent months and it was revealed at last week's Shrimpers Trust AGM that more than £500,000 has already been invested by the businessmen.

However, the Blues are still being hindered by a transfer embargo due to money owed to HMRC and the consortium have confirmed that their focus is on lifting the restrictions as quickly as possible.

The Shrimpers have been under the embargo since September 2022 and could only select one substitute for Saturday's 2-1 defeat against Bromley at Roots Hall.

 

[Jack_23]

Embargo to be lifted before Christmas and sale announced between Christmas and new year?

 

[Massimo Giovanni]

Very risky move as we can likely make an educated guess as to who is paying it, and it won't be Rat Martin or his rat son either.

Agreed, and as has been posted before we can get players in but the embargo prevents them being registered or playing under embargo. If the deal is that close and confident why wouldn't we/ they?

 

[BoyWonder2]

Given the terms of sale seem to have been agreed could that be enough to convince the NL to lift the embargo even if the debts won't be paid until the sale goes through?

No, we’ve tried that before, things HAVE to be paid.

Money has been set aside for this.

 

[M_Simps]

Given the terms of sale seem to have been agreed could that be enough to convince the NL to lift the embargo even if the debts won't be paid until the sale goes through?

Maybe (and it'd be really good if they did), but I wouldn't blame them for being wary of doing so. Ron basically used Kimura's 'deal' to keep the NL at bay for the start of the season.

I know the consortium are a lot further down the road, but I'd be hesitant about letting anything regarding Southend go on an IOU, if I were in charge of the NL.

 

[Morty01]

Has embargo been lifted?

 

[Booma]

Has CP tweeted anything more? The articles look promising, but it’s the hope that kills you

 

[Shrimper]

So embargo lifted early 2024?

 

[Tommy2holes]

With the agreement in place (provisionally) they can now look forward to pau outstanding debt and satisfy getting out of the emabargo.

With the right signings and a fair wind, who knows where we can finish this season.