Transfer Embargo, Winding Up Petition & Staff Salary Issues

[Fairport]

RElly dont know why people keep harping on get rid of Ron .Ok where is the knight in shining armor coming from .I.It just is not going to happen is it .Sadly we are stuck with the fool on the hill .Who keeps telling us its all going to ok ..Thank god we still have Stan and Tom on our side And coaching staff who reall do care ..Because Ron sure does not .

For decades football clubs have been taken over, 99% of the time there is a willing organisation waiting in the wings, often even a queue. Thankfully the fatalities such as Bury and Macclesfield are few and far between. Obviously the problem we have is an owner who doesn't seem interested in talking to other parties.

 

[Strykr]

run the club ourselves ...

I should think the heat and the total contrast of opinion in threads of late adequately proves why us lot trying to run the club would be nothing but a disaster!

 

[Mad Cyril]

I've said it before but if North Korea can build nuclear weapons whilst under embargos then we can get promoted out of this two bob division.

 

[Supa Shrimpa]

Regarding his latest statement...it's just summarises exactly why so many people want him out of the club.

 

[londonblue]

As far as I'm aware bridging loans are notoriously expensive so I'd be interested in who is taking out the loan. I assume it is SUFC in one form or another so that the club is saddled with the debt, rather than RM himself.

Does anyone know the actual answer?

 

[Holy Joe]

As far as I'm aware bridging loans are notoriously expensive so I'd be interested in who is taking out the loan. I assume it is SUFC in one form or another so that the club is saddled with the debt, rather than RM himself.

Does anyone know the actual answer?

I'd be very surprised if SUFC was facing an external lender - we have no assets to lend against
I'd guess its one of the group companies with an inter company loan from that group entity to sufc

 

[Rayleigh boy]

I'd be very surprised if SUFC was facing an external lender - we have no assets to lend against
I'd guess its one of the group companies with an inter company loan from that group entity to sufc

do you think any of RMs other companies has any money ?

 

[mattytheshrimper]

As far as I'm aware bridging loans are notoriously expensive so I'd be interested in who is taking out the loan. I assume it is SUFC in one form or another so that the club is saddled with the debt, rather than RM himself.

Does anyone know the actual answer?

I'd imagine its going to be a horrendous amount of interest and Ron's robbing Peter to pay Paul and we'll be in this exact same situation in a couple of months.

 

[Massimo Giovanni]

I'd imagine its going to be a horrendous amount of interest and Ron's robbing Peter to pay Paul and we'll be in this exact same situation in a couple of months.

Unless we get the cup run all the way to an away fixture at Arsenal with lots of TV money.

 

[Yorkshire Blue]

do you think any of RMs other companies has any money ?

It’s not whether they have any money (if they did it probably wouldn’t be necessary to take out a bridging loan as they’d be an intra-group loan) but whether they have the assets to secure a loan.

 

[Rayleigh boy]

It’s not whether they have any money (if they did it probably wouldn’t be necessary to take out a bridging loan as they’d be an intra-group loan) but whether they have the assets to secure a loan.

You would have thought RMs credit rating was complete toilet .....

I imagine every piece of property he "owns" has got a charge on it.

It might be worth looking in Cash Converters to see if he is off loading anything.

 

[Holy Joe]

You would have thought RMs credit rating was complete toilet .....

I imagine every piece of property he "owns" has got a charge on it.

It might be worth looking in Cash Converters to see if he is off loading anything.

I'd be very surprised if any property developers had any assets without a charge on it. Leverage is how the property game works, and why when it goes wrong, it goes wrong spectacularly.

 

[GNH]

My understanding is that the other directors do what they can to keep RM in check, but since he owns the vast majority of shares there's very little they can do. He keeps them in the dark almost as much as he does the rest of us.

I've also been told in the past that they used to bail the club out but have stopped because Ron never keeps them informed and they don't really see why it should be a one way street.

According to the latest accounts that the club could be bothered to submit (year end 31/07/19) two of the directors are owed in the region of £360k in total.

Not exactly a good situation to be in if you are not kept informed of the finer details of the clubs workings.

I don't blame them not putting further support in, who knows what this figure is currently as we seem to think it acceptable to not publish accounts for the last few years of trading.

 

[Murkey_Mouse]

Why not, as a matter of interest? Yes, we are in the NL and that's primarily down to Ron not funding the club properly. But we have previously been promoted under his tenure, 3 times in fact, and once into the Championship.

There is a strong management team in place, a new squad and results are picking up. We are 4 points from the playoffs after 11 games. Who knows what can be achieved?

Why on earth is that not debatable? And I know you've said it's only your opinion, but there has to be some substance behind what's to come in the future after Ron goes.

That why we are right behind our coaching team & our young team, who look solids, and is moving forward on the pitch, we are the only one who don’t give goals much away, the attacking players knew, if they score 1 or 2, they know we will win the game.

 

[Murkey_Mouse]

We need a cup run & luck of the draw to bring some moneys in. We haven’t done a cup run for 7 years now.

 

[Rayleigh boy]

According to the latest accounts that the club could be bothered to submit (year end 31/07/19) two of the directors are owed in the region of £360k in total.

Not exactly a good situation to be in if you are not kept informed of the finer details of the clubs workings.

I don't blame them not putting further support in, who knows what this figure is currently as we seem to think it acceptable to not publish accounts for the last few years of trading.

the interesting position is of these directors asked for their money back ??

 

[Tangled up in Blue]

Ron is a southend fan and has used his own money to bail us out year after year!All this just because a tax bill hasnt been paid on time.As we all know ron always pays and we go again.This is non news and not worth worrying about,heard it all before.

Thanks for the update Ron.

 

[Tangled up in Blue]

so wrong ... without the fans there is no club .... chairmen come and go

Usually yes but RM is still 22 years not out.

 

[Blue43]

We need a cup run & luck of the draw to bring some moneys in. We haven’t done a cup run for 7 years now.

We could have a great cup run and make a million quid from it but we’ll still be in the same financial position with Ron in charge i’m afraid.

Just look at our home gates, up there with the best in the NL and better than a lot of league 2 clubs yet we still can’t pay our staff and HMRC

 

[rigsby]

We could have a great cup run and make a million quid from it but we’ll still be in the same financial position with Ron in charge i’m afraid.

Just look at our home gates, up there with the best in the NL and better than a lot of league 2 clubs yet we still can’t pay our staff and HMRC

I thought thats why we got a CEO on board. Hundreds of posts of how it will solve our problems with Ron taking a back seat.

I have been in posh bit of Chesterfield for a night game. Seasos at the time were paying £500. The bar and the food bit were full up. The Captains and the Blues lounge will be lucky to break even tomorrow. The pump in the Del boy bar only holds 12 pints, I still got one at half time on Saturday.

Its not about about how many, its how much they spend that counts. Tom has tried to explain this several times when the new stadium is mentioned but it suits agendas not to listen.