SUFC: The Future The Takeover - Very very close.

[kentblues]

I'm sure the consortium aren't relying on the £20m. They have already said for example the stadium improvements aren't reliant on this as funds are in place. And the £20m can never guaranteed, as FF development can't be guaranteed, anymore than the revised planning can be guaranteed. The consortium aren't fools and will have long known this. But it's a big number and they will want to make sure they get it if its due.

So it's contracting for the what ifs which is always difficult. At what stage of the build & post occupation period do sums become payable, how much, how can payment be assured/enforced against that schedule, if its out of "profits" how is this defined and measured and by whom, if revenues are shared by Ron & SCC (will payments come from Ron or from SCC), what assurances can SCC give. This will be complicated contractually as once again it's based on a build that hasn't yet happened, with uncertain costs, uncertain profits and a contract with SCC that has no doubt yet to be agreed? And I'm sure I've missed a lot.

On the other hand this has all been known in relation to the £20m for weeks, and we have in that time been given 2 or 3 dates by which the takeover was expected to complete nonetheless. So the consortium must have believed/believe this was pretty much all agreed- after all there is no way this would have been left to the end under AOB.

I know we have told there will be no running commentary. However, timely updates when deadlines are missed does not represent a running commentary merely expected communication. So if this doesn't happen by Saturday for sure we will be owed an update.

Personally I doubt there is much if anything to be concerned about. Could just as well be announced tomorrow or Friday.

 

[shrimper-james]

I don’t have any inside info, and this could just be wishful thinking but I’m still holding on to the idea of no news being good news and that everything is rumbling along pretty much as it should in the background. CP’s tweet this afternoon seems to support that too. Fingers crossed we hear something positive soon though, it will certainly be worth the wait.

 

[kentblues]

No matter what guarantee Ron gives or signs, he will NEVER pay £20 million back to the club.

There’s a very long list of money that Ron owes money to, a list which I might add is still growing with some very large figures on. This £20 million will just be added to that list as never paid back I’m afraid.

The guy is ruthless and doesn’t have a conscience. Might as well write that money off now to save the disappointment in the future!

As a business (even if a football club owned by a consortium) you are offered £20m as part of a deal it would be unforgivable not to do the best job that can be done to protect the clubs interests, and ultimately secure those funds. We might also remember that SCC have not only been part of these discussions, will not only be setting terms for the planning, but also will be partnering with the developers renting and ultimately owning much of the housing. So its not just a case of you can't trust Ron either way so just mentally write it off.

 

[Cricko]

I'm sure the consortium aren't relying on the £20m. They have already said for example the stadium improvements aren't reliant on this as funds are in place. And the £20m can never guaranteed, as FF development can't be guaranteed, anymore than the revised planning can be guaranteed. The consortium aren't fools and will have long known this. But it's a big number and they will want to make sure they get it if its due.

So it's contracting for the what ifs which is always difficult. At what stage of the build & post occupation period do sums become payable, how much, how can payment be assured/enforced against that schedule, if its out of "profits" how is this defined and measured and by whom, if revenues are shared by Ron & SCC (will payments come from Ron or from SCC), what assurances can SCC give. This will be complicated contractually as once again it's based on a build that hasn't yet happened, with uncertain costs, uncertain profits and a contract with SCC that has no doubt yet to be agreed? And I'm sure I've missed a lot.

On the other hand this has all been known in relation to the £20m for weeks, and we have in that time been given 2 or 3 dates by which the takeover was expected to complete nonetheless. So the consortium must have believed/believe this was pretty much all agreed- after all there is no way this would have been left to the end under AOB.

I know we have told there will be no running commentary. However, timely updates when deadlines are missed does not represent a running commentary merely expected communication. So if this doesn't happen by Saturday for sure we will be owed an update.

Personally I doubt there is much if anything to be concerned about. Could just as well be announced tomorrow or Friday.

Of course they are it's paramount to the deal. It does not mean of course they do not have funds for improvements, they do.

This about the deal that that the council have partially with the rat for the transfer of the housing to FF and the no need for building a stadium.

With that in mind I remember the rat saying it would cost 30-40 mill to build one at FF. This deal is saving him10mill at least on a promise of getting the plans through at FF. I very much doubt it would have gone this far without something in the background being agreed. The council want this deal.

I think you are reading far to much into this and if you take away the flannel there is a basic resolve to it all.

It's the 6mill upfront as agreed by the rat and the rest over a limited time frame.

 

[kentblues]

Of course they are it's paramount to the deal. It does not mean of course they do not have funds for improvements, they do.

This about the deal that that the council have partially with the rat for the transfer of the housing to FF and the no need for building a stadium.

With that in mind I remember the rat saying it would cost 30-40 mill to build one at FF. This deal is saving him10mill at least on a promise of getting the pland through at FF. I very much doubt it would have gone this far without something in the background being agreed.

I think you are reading far to much into this and if you take away the flannel there is a basic resolve to it all.

The £20m is very important and if FF happens absolutely the £20m must follow. We are in violent agreement. But its not "guaranteed" because FF can't be "guaranteed". I know its stating the obvious but its worth recognising.

Not sure what you mean by "flannel" but guess you mean complexity. In which case you're right in terms of the solution in principle. It just becomes time consuming when you try and write it in a contract. My point.

Again I think fundamentally we are in violent agreement..

 

[Rayleigh boy]

Yes John, faith and the just don't belong in the same sentence. For me it's all about the Consortium establishing the best post takeover legal position possible If and more likely when the defaults on the agreed payments.

yep - I agree ... first get in the door and then unleash the legal dogs ..

 

[ColinMorrisWalksOnWater]

What podcast is this?

Shrimperscast.

 

[tommy tucker]

Maybe the best way out of any agreement that rat man agrees to pay 20 millon to help redevlope the hall .So would it not be a good way is to get the deal done .Then once done and signed off Justin and concortium have there hands on roots hall and the training ground .Then let the council deal him a blow telling him either put an agreement in a water tight contract that he iether agrees to this 20 millons or there cant be any houses built untill he does .

 

[Cricko]

Maybe the best way out of any agreement that rat man agrees to pay 20 millon to help redevlope the hall .So would it not be a good way is to get the deal done .Then once done and signed off Justin and concortium have there hands on roots hall and the training ground .Then let the council deal him a blow telling him either put an agreement in a water tight contract that he iether agrees to this 20 millons or there cant be any houses built untill he does .

That is probably his worry , the council are not due to meet until mid December to ratify anything on the new houses at FF.. It's all in mid air atm, nothing is set in stone hence why we see this stumbling block. Somebody will have to take a leap of faith to get this over the line or we continue to wait.

Can you see the rat parting with 6mill upfront as agreed. ( God knows where he will find that money anyway) without full on planning.

This is all touch and go.I really don't see how this all gets resolved quickly unless they both have a leap of faith, or the council step in.

 

[tommy tucker]

That is probably his worry , the council are not due to meet until mid December to ratify anything on the new houses at FF.. It's all in mid air atm, nothing is set in stone hence why we see this stumbling block. Somebody will have to take a leap of faith to get this over the line or we continue to wait.

Can you see the rat parting with 6mill upfront as agreed. ( God knows where he will find that money anyway) without full on planning.

This is all touch and go.I really don't see how this all gets resolved quickly unless they both have a leap of faith, or the council step in.

Yes that's as maybe but if the houses are not the issue then get the agreement signed As the extra 500 houses is Ron's problem .That shouldn't hold up the sale of rootshall

 

[Cricko]

Yes that's as maybe but if the houses are not the issue then get the agreement signed As the extra 500 houses is Ron's problem .That shouldn't hold up the sale of rootshall

The houses are the issue though in part, why would he sell RH which already has PP for houses without any guarantee they can be moved to FF.

To him he saves money by not building the stadium at FF but he wants guarantee's to that he will get PP on the extra housing.

 

[Cricko]

The rat will not care how this goes as i said earlier, Justin has been mugged into paying the last few months wages. The rat still holds the cards as he can always go the admin way and **** over Justin on the way and take a gamble with the council over any other planning.

They need to tell him you will get **** all planning it will be called in if you do not get this deal over the line.

 

[in the know]

The only way I see RM giving the club\ consortium 20m is if it never gets into his grubby 'fail to pay agreements or debts' hands in the first place.
Wherever the 20m is sourced from, i hope it can be paid direct to the club missing him out in all but the paper trail.

 

[tommy tucker]

The houses are the issue though in part, why would he sell RH which already has PP for houses without any guarantee they can be moved to FF.

To him he saves money by not building the stadium at FF but he wants guarantee's to that he will get PP on the extra housing.

That is just like that creep blackmail the club until the end .He is a real areshole

 

[Paulie Walnuts]

The rat will not care how this goes as i said earlier, Justin has been mugged into paying the last few months wages. The rat still holds the cards as he can always go the admin way and **** over Justin on the way and take a gamble with the council over any other planning.

They need to tell him you will get **** all planning it will be called in if you do not get this deal over the line.

Agreed, I think even that delusional ****house understands he won't be able to build so much as a sand castle in our city if he does his usual on this one.

Both parties are going to have to swallow a bit of risk when it comes to the £20M but as long as the consortiums solicitors are happy that it's binding (if the council sign it off in December) it should be fine.

Easy to say when it's not my money but they knew this would be coming.

It must be so painful putting this part together with a cretin like the , I have faith it'll be sorted out sooner rather than later though.

 

[meerkat54]

This takeover reminds me of the long drawn out trench warfare in WW1 . Gain a few yards, go back a few yards.
I bloody hope the takeover is done before 4 years. This takeover is becoming a war of nutrition.

 

[Leeboy]

This takeover reminds me of the long drawn out trench warfare in WW1 . Gain a few yards, go back a few yards.
I bloody hope the takeover is done before 4 years. This takeover is becoming a war of nutrition.

attrition I think you mean. Unless there is food involved

 

[tommy tucker]

Ron Martin you are the most hated person in the city The way you are making our club suffer Well I hope one day not to far in the distance. You will suffer as we all have you horrible little man.

 

[meerkat54]

attrition I think you mean. Unless there is food involved

quite right my grammar is atrocious.
Many thanks for correcting me.
ps I do always have food on my mind

 

[Fairport]

Maybe the hold up is the lawyers on both sides trying to find a form of words to use for the so called binding agreement re the £20k. It is important to get that right so the Martins can't wriggle out of the deal at a later date.