SUFC: The Future The Takeover - Very very close.

[Holy Joe]

In the dirty, grubby world of football, which is pretty corrupt at every level from the U7's upwards, serious businessmen who are seen as the saviours by so many and who are providing several million quid to buy and then run a National League side punching well below its weight are highly unlikely to be reconsidering their commitment because of a few words from a frustrated fan on a fans forum.

They are, however, much more likely to be reconsidering matters if, for instance, they found a skeleton or two in the closet that won't go away and which will impact on the profit that they ultimately hope to make.

Make no mistake; they are not buying this to do us a favour. They are buying this because one, day, when we will be back punching at or above our weight, they want to make a return.

In the same way that Ron Martin, when he bought us and was seen as a bit of a saviour back then and who we all called "Uncle Ron", was wanting to make a ton of money from the land and development. But he had hoped to deliver a new stadium for us. It is two sides of the same coin.

However, we are where we are and as we don't have any wealthy benefactors or lifelong fans with millions to lose, we have to take what we can and as I've said before, if I were buying this club I would want to be 100% certain of what I was getting. That sort of DD takes a while and buying a club like ours is not like buying a car, or even a house.

Their commitment to paying the wages and keeping us afloat in the short term will be peanuts in comparison to potential losses if they buy a "dud".

I'm confident at the moment that it will go through, I don't know and frankly don't care when but obviously asap would be preferable. I will not be worried unless key personnel like Tom Lawrence and the management team jump ship, or if the consortium, mainly made up of a lot of local businessmen who are also fans and who have some skin in the game starts to fall apart. Whilst they are there and in place, I will rest easy, but will keep the champagne on ice until the deal is done.

I think you're probably right about some consortium members motivations, but maybe not about all of them. Probably a bit dramatic to suggest I'd reconsider based on what I think is an unnecessary snipe, but it could be a final straw or contributing factor. Anyhows point of the post was to highlight what I consider an unneccesary comment on what I originally thought was a statement released by all supporter groups - but that I now think is just the 'protest' group?

 

[Ian Benjamin]

I can’t help but worry that the £20m payment will be earmarked to come from one of the fraudsters many companies, possibly a new company with the sole intention of not paying the club.

@Ian Benjamin what are the forms of redress should a S106 be breached?

If the payment was an amount due to the Council, then technically the planning permission would be invalid and no properties could be sold, or leased before the S106 payments had been satisfied as there is a need to discharge the s106.

The trouble with the profit share arrangement, as has been muted is that unless you have a waterfall agreed and all the costs bottomed out, what actually is the profit on the scheme and what can be deducted as costs before the profit is determined.

For example if they can deduct management costs as a legitimate cost - who determines what is a reasonable amount to deduct?

If I was in the consortium, I would want my position secured by way of a second charge over the land and to have my own cost consultants on the scheme to make sure it is being built in accordance with the cost schedule.

However, there would be so many ways to manipulate the costs - this could end up being the square root of 10% of 20% of naff all.

 

[Pak66]

He ain't the enemy though - if you're trying to get someone onside or give you a statement, I don't think the way to do it is by insulting them. If I was him I'd read that and be seriously reconsidering if I wanted to be involved

If one little comment is enough to turn Mr Rees away then he was not the right person in the first place. Surely he is not that delicate. Any self respecting SUFC owner would expect fan scrutiny, especially after the Martin years.

 

[Tommy2holes]

I think it's just pure frustration now giving way to worry.

We have been through hell with the rat and all seemed ready to pop the champagne .

Now radio silence after several public statements expecting it to be done by such and such a date.

Even if there was a statement from the potential new owners with a affirmation of commitment and current progress, I am sure that would put minds at rest.

The longer nothing is said, the more people are going to put 2 and 2 together to make 20.

 

[dusterman]

Mmm… the below feels like a lifetime ago and an absolute migile away at the moment..

‘We can confirm that an agreement for the sale of the Club has been reached with a consortium led by Justin Rees. Everyone is working towards a completion date of 1 November 2023, that is when the consortium will formally take control of the Club.

“The collaborative approach to agreeing this deal would not have been possible without the support of creditors and the assistance from the Leader of Southend City Council.

“We recognise that this has been a stressful time for all associated with the Club. We would like to thank our staff for their incredible loyalty and also thank all our stakeholders for their patience.”

Rees also commented on the agreement saying: “We are very pleased to have reached an agreement to become the new custodians of Southend United FC.

“Whilst our advisors conduct DD, we will be working with Tom Lawrence, John Still and Kevin Maher to ensure we hit the ground running once the transition has formally completed.

“We would like to thank Ron Martin, Tom Lawrence, Southend’s creditors and the Southend City Council for helping us reach an agreement in time to avoid administration.”

 

[Spaceman Spiff]

Mmm… the below feels like a lifetime ago and a absolute migile away at the moment..

‘We can confirm that an agreement for the sale of the Club has been reached with a consortium led by Justin Rees. Everyone is working towards a completion date of 1 November 2023, that is when the consortium will formally take control of the Club.

“The collaborative approach to agreeing this deal would not have been possible without the support of creditors and the assistance from the Leader of Southend City Council.

“We recognise that this has been a stressful time for all associated with the Club. We would like to thank our staff for their incredible loyalty and also thank all our stakeholders for their patience.”

Rees also commented on the agreement saying: “We are very pleased to have reached an agreement to become the new custodians of Southend United FC.

“Whilst our advisors conduct DD, we will be working with Tom Lawrence, John Still and Kevin Maher to ensure we hit the ground running once the transition has formally completed.

“We would like to thank Ron Martin, Tom Lawrence, Southend’s creditors and the Southend City Council for helping us reach an agreement in time to avoid administration.”

Indeed. We’re all feeling the positivity and hopes fading as time passes by.

Now that we’re miles past the communicated target date, and at least two further guesstimated dates (that we’ve cobbled together ourselves by forensically interpreting every hint or bill falling due) while comms seem to have dried up we’re naturally concerned and worried. It feels as though either the rats are requiring this silence or it is happening because there is reason to be concerned. I’m sure the consortium are doing everything they can but if there is still no firm timeline they need to update the stakeholders (us, primarily).

Rat may have the right to withhold information and demand non disclosure but that does not equate to a right to keep stakeholders completely in the dark.

It’s not what we hope for in the new regime.

I’m sure it’s not their preference either but we need to see a bit more regular general reassurance publicly from the consortium with some broad brush progress / status info to help us feel informed without falling foul of the Martins or their legal people.

Come on guys we want you to take charge of this situation - and then the club.

 

[tommy tucker]

Has anyone been told the deal is off I guess the answer is no So if the answer is no .Then we must be patient we have to trust the deal will finally go through no matter how long it takes We as fan all want the same thing to see the end of the Martin empire.

 

[londonblue]

If one little comment is enough to turn Mr Rees away then he was not the right person in the first place. Surely he is not that delicate. Any self respecting SUFC owner would expect fan scrutiny, especially after the Martin years.

I'm so pleased we have people like you to weed out the undesirables!

Let's be fair, if people think it's time to start protesting again they're entitled to. Who knows whether it will make a difference or not. It probably didn't last time as Ron had been talking to JR for a long time before the protests started. The fact, however, is that we'll never really know the answer to that. We'll also never really know if a protest now will make any difference because we have no idea how close they are to a deal.

However, and this is the important point. Why on earth would anyone think that taking a swipe at JR is the right thing to do? He's not the enemy here. I'm not sure who produced the text, but whoever it was won't have much of a career in the diplomatic service! It was completely unnecessary and (frankly) childish. It also undermined any credibility that group thought it had.

I'm not a member of the trust but at least when I read their output I can see that it has been well thought out and is articulate. It doesn't take a swipe at people who don't deserve it.

 

[Morty01]

You’ve missed out there daughter ( yep theirs a third sibling too )

How does Mrs Martin keep wanting to boink him?!

 

[OldBlueLady]

The Trust connected members on here have been a bit quieter than usual too. Any thoughts on this @jphfitz or @OldBlueLady ?

Sorry, it's pointless tagging me in the middle of a normal working day! @jphfitz has responded in exactly the kind of way I would have (and far more eloquently). I'm as frustrated as everyone else, and fully understand why the Protest Group put out the statement they have. I do have faith in Justin though and maybe, just maybe, we might get the best possible Christmas present out there soon.

 

[Mad Cyril]

Noticed that Ron's front wall has been knocked down again.

Accident or kamikaze attack from a crazed fan?

 

[CanveyCastle]

Noticed that Ron's front wall has been knocked down again.

Accident or kamikaze attack from a crazed fan?

Bricks to lob at his gaff ? I hope not.

 

[Spaceman Spiff]

Noticed that Ron's front wall has been knocked down again.

Accident or kamikaze attack from a crazed fan?

There’s been a lot of huffing and puffing. Maybe someone’s finally blown his house down?

 

[Holy Joe]

If one little comment is enough to turn Mr Rees away then he was not the right person in the first place. Surely he is not that delicate. Any self respecting SUFC owner would expect fan scrutiny, especially after the Martin years.

Scrutiny yes - but respectfully, not snide remarks being made in public statements by a supporter group.

As I said in another comment maybe the reconsidering was an overreaction on my part, but if anyone in the consortium were having any doubts that sort of comment isn't going to help!

 

[annie1954]

There’s been a lot of huffing and puffing. Maybe someone’s finally blown his house down?

I think they will if the takeover doesn’t happen

 

[BoyWonder2]

Ultimately, we’ll never know for sure if the protests helped the sale, or hindered it.

Whatever RM says, most people won’t believe, but I bet they would believe it if he said it helped…

I have no issues with the protests re-starting. I think it’s a bit premature, but can see why people are getting edgy and want to “do something”.

The constant snipes from both sides at each other is tiresome though.

Personally, I didn’t see the need for the snipe at JR. Completely pointless in my eyes, and undermines a decent statement from them, but they aren’t like the Trust, they don’t have to be diplomatic. Ultimately, the ones behind the protest group are fans of the Club, like we all are. We all want the same thing at the end of the day, RM gone and a fresh new start, and I don’t think it’s too far off.

 

[sufc4life21]

Tensions within the fanbase will start to grow thats inevitable..... currently we are at loss without any real concrete news coming out, inevitably will lead to some fans wanting to take action. I think as fanbase we have been patient, 2 months has passed with completion deadline missed with not even an update does indicate something is not right. If its down to 20 million the consortium want to be put back into roots hall I think the consortium need to rethink that, given the rat track record there's no way the consortium will ever get that even if it's agreed and signed. I think we are at stage where the consortium are left with the take it or leave it option! as the rat is to stubborn and greedy to change his stance, he doesn't give **** if this deal doesn't go through as he probably just put the club into admin to get what he wants.

 

[Supa Shrimpa]

Noticed that Ron's front wall has been knocked down again.

Accident or kamikaze attack from a crazed fan?

I think it was members of the consortium banging their head against it, Trying to buy a co. off of Ron isn't easy, y'know

 

[WickfordShrimper]

BBC Essex Ben Fryer show doing a piece on the stalled Southend United take over this morning for anyone wanting to listen

 

[THE SEVENTIES NORTH BANK]

Maybe, just maybe, the consortium doesn't want to make a statement now, as they don't want to tell lies, and the truth might make a huge and very angry blue army (The biggest ever)turn up outside Ron's, which would not be helpful at this crucial stage.