SUFC: The Future The Takeover - Very very close.

[WhiteNoise]

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

Looks like end of Jan.Maybe.

I swear about 500 posts in this thread are people misinterpreting simple statements. Where did you get end of Jan from?

"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."

If finance is in place, then I don't see any reason why the deal can't happen ASAP if Ron is happy with the assurances from the council, and the consortium are happy with the terms of the purchase.

 

[dusterman]

Conflicting reports but you’d think that the deal is done and the consortium take over but the final confirmation comes later. we all want it done asap but frankly if embargo gets lifted and we are a functioning club again, the rubber stamping can wait

 

[kentblues]

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

Looks like end of Jan.Maybe.

The key para is:

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."

This festival of incompetence on a biblical scale just needs to be brought to a conclusion now. And the embargo lifted.

 

[Ron Manager]

Conflicting reports but you’d think that the deal is done and the consortium take over but the final confirmation comes later. we all want it done asap but frankly if embargo gets lifted and we are a functioning club again, the rubber stamping can wait

Yep, get the embargo lifted pending the final transaction needing to go through the lawyers and I’ll be very happy.

We need players through the door, the ones we have are and will remain heroes but they have reached their limit of fitness and energy understandably.

 

[Leeboy]

Festival of Incompetence - love that.

 

[Shrimper Brownie]

Festival of Incompetence - love that.

As an English student that is superb

 

[Blue Yonder]

I don't think the club can wait that long. Surely has to be wrapped up this year latest.

We’ve been saying the club can’t wait for months now. If the NL cut us some slack and we can get some players in, and the consortium are prepared to continue to subsidise us monthly, this can drag out further.

 

[GIBBO]

Exchange contracts now.

Complete end of Jan.

Once, Exchanged, isn't worth while financially if one of the parties don't proceed to completion

 

[Spaceman Spiff]

And give him a Chinese burn

And a wedgie

 

[kentblues]

We’ve been saying the club can’t wait for months now. If the NL cut us some slack and we can get some players in, and the consortium are prepared to continue to subsidise us monthly, this can drag out further.

From AF’s letter it wouldn’t surprise me if the plan, such as it is, involves the hope the NL will do something they won’t- and then be surprised when, in fact, the only surprise will be that they are surprised.
You couldn’t make it up.

 

[Somerset Ex-TTB]

I hope that Anna’s letter to the NL might mean they cut us some slack as the takeover is virtually 99% wallop.

Even if it’s, OK you can add a couple and have a squad of 18, and then if things aren’t cleared and completed in x number of weeks you are back down to 16 again or something like that.

Why when it’s so close according to many sources the NL can’t be a little flexible I don’t know.

If we have to wait until the ink is dried on the actual takeover it could be well into Jan or Feb as maybe baby rat could put a spanner in the works and not sign off until the council meeting in Feb?

 

[Fairport]

The alternative is people purchase land then go through the process themselves. I've no issue with those that are property developers / landlords (I've got a couple of close friends who are developers / landords)

What I object to is high maintenance charges and those developers that stockpile land waiting for the price to increase.

And developers who take the best part of 25 years to attempt to build something but actually don't build anything and leave the current building in a state of disrepair whilst they chased their golden carrot.

A good example is the site opposite the Kursaal

 

[Liam AAS]

How the hell has Jack Martin got so involved in all this? Little lad is as pathetic as his old man

Jack Martin is the director of the company that owns Fossetts

 

[Liam AAS]

Can one of the ITK's confirm today's plan of action please. I.e. what's happening/ who are we waiting for if the council and Ron have agreed? Is it a case of signatures or more to iron out?

Has it been confirmed the embargo has been lifted?

We are in wait and see mode. The deal is, effectively, done but there is LOTS of paperwork to check and double check. The consortium want the £20m airtight and The Martins want FF airtight.

The money is there to have the club functioning (on the field) as soon as the ink is dry.

 

[JD]

Why when it’s so close according to many sources the NL can’t be a little flexible I don’t know.

Because it’s never done until it’s done.
Anything could go wrong right up until completion.

Also, I am positive that the NL are using us to build a whole set of precedents to use in future.

 

[kentblues]

We are in wait and see mode. The deal is, effectively, done but there is LOTS of paperwork to check and double check. The consortium want the £20m airtight and The Martins want FF airtight.

The money is there to have the club functioning (on the field) as soon as the ink is dry.

This must have been done already. Its just not possible surely it hasn't been.

 

[Maldon Shrimper]

Just done a radio interview for BBC Essex along with others asking our views of the takeover which they plan to go out on Boxing Day.If the takeover goes through before then it won't.So fingers crossed you wont hear me

 

[AlfaShrimper]

Jack Martin is the director of the company that owns Fossetts

Jack Martin is a **** pass it on

 

[rigsby]

Did JHustin not say the 20 millons is not an issue it would not stop the take over .Hopfuly that is right .

They couldn't really say they desperately need it.

Looking ahead say in 3 to 5 years when the West and North have been developed and improved. If the £20m suddenly looks like it won't be paid or there is a serious delay are they really going to demolish and rebuild the East from there own pockets.....Baring in mind they will have already pumped several £m into SUFC and the £20m will clearly be part of the business plan.

 

[Liam AAS]

This must have been done already. Its just not possible surely it hasn't been.

There is now a whole different relationship established between The Martins & SCC, on which £20m is contingent.

Everyone will want to see everyone else's paperwork to ensure that, specifically, £20m is coming from somewhere. The council won't want it to be them, The Martins won't want it to be them, JR won't care as long as it's set in stone.

All the new paperwork will want checking by the consortium, even though they are a 3rd party, because there's £20m on the line