Transfer Embargo, Winding Up Petition & Staff Salary Issues

[kentblues]

My assumption is that the delayed funds were to be released using a

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.

And how long it takes to agree and get the paperwork done. I would think we would look to existing lines e.g. CRBE or perhaps the Dellals as there is an existing relationship and/or some motivation to assist. The term bridging loan suggests its not the "normal' route of looking to take a new charge on some other group asset..

 

[in the know]

Im definitely no expert in such things but arent there open an closed bridging loans, depending on whether an end date for repayment is known. I cant imagine anyone or any company offering ron an open ended bridging loan with no set repayment method and date with his payment history. I can only assume the revised date for release of funds to Ron is more set in stone than it has been to date.

 

[Blue43]

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.

Toms doing a great job under awful conditions, but like it or not Ron still pays the cheques and has the final say on financial decisions. He can give Tom a budget to work with which again i’m sure Tom keeps too and works wonders on but if the guy above him,
Ie Ron isn’t paying the bills we’re screwed.

You can harp on about revenue from the new stadium all you like but the fact of the matter is the club have been screwed over by SBC and Ron on securing a safe and financially sustainable future for the club.

We have gone from a hotel, cinema and retail park which would have generated huge amounts of revenue for the club on non match days to just a banqueting suite. That’s hardly going to make us financially sustainable is it despite what waffle Ron will tell you.

The banqueting suite isn’t even going to be built initially as it will be in the main stand which is supposedly being built later (if Ron hasn’t run out of money by then) so there will be zero non match day income initially. So that could leave us with a 3 sided stadium with no non match revenue income that the club won’t even own and will be charged a rent to play there.

Dress it up all you like but anyone who thinks the new stadium (as per the current plans) will be of great benefit to SUFC is delusional

 

[londonblue]

Toms doing a great job under awful conditions, but like it or not Ron still pays the cheques and has the final say on financial decisions. He can give Tom a budget to work with which again i’m sure Tom keeps too and works wonders on but if the guy above him,
Ie Ron isn’t paying the bills we’re screwed.

You can harp on about revenue from the new stadium all you like but the fact of the matter is the club have been screwed over by SBC and Ron on securing a safe and financially sustainable future for the club.

We have gone from a hotel, cinema and retail park which would have generated huge amounts of revenue for the club on non match days to just a banqueting suite. That’s hardly going to make us financially sustainable is it despite what waffle Ron will tell you.

The banqueting suite isn’t even going to be built initially as it will be in the main stand which is supposedly being built later (if Ron hasn’t run out of money by then) so there will be zero non match day income initially. So that could leave us with a 3 sided stadium with no non match revenue income that the club won’t even own and will be charged a rent to play there.

Dress it up all you like but anyone who thinks the new stadium (as per the current plans) will be of great benefit to SUFC is delusional

Most of that is correct, but the surrounding development (be it retail or residential) was never going to be owned by the club. That was always Ron's.

 

[kentblues]

Im definitely no expert in such things but arent there open an closed bridging loans, depending on whether an end date for repayment is known. I cant imagine anyone or any company offering ron an open ended bridging loan with no set repayment method and date with his payment history. I can only assume the revised date for release of funds to Ron is more set in stone than it has been to date.

Well yes a bridging loan is by definition a temporary arrangement- the end date being a date or an "event" that is normally near term and pretty certain. If it can be with an existing "partner" directly or indirectly associated with the project- e.g. with development partner, funder, charge holder then you would imagine it would be more straightforward/terms more favourable..

 

[in the know]

Well yes a bridging loan is by definition a temporary arrangement- the end date being a date or an "event" that is normally near term and pretty certain. If it can be with an existing "partner" directly or indirectly associated with the project- e.g. with development partner, funder, charge holder then you would imagine it would be more straightforward/terms more favourable..

That makes sense .

 

[Exiled Shrimper]

Most of that is correct, but the surrounding development (be it retail or residential) was never going to be owned by the club. That was always Ron's.

Yes, that's how I understood it as well.

It's not hard to imagine how we can generate more money for the football club from a new stadium (once completed) compared to Roots Hall, even if the club haven't done a great deal of shouting about how that would actually happen. For a start there's the reported £300k-£400k required to obtain a safety certificate for Roots Hall that presumably would be a lot lower at a new-build.

After that, a new stadium, even at 16,500-capacity, would be in line for England youth internationals; just up the road Colchester have had quite a few of those (at 10,000-capacity) since the Community Stadium was constructed. Then there would be the potential for concerts (although I'm not sure if that would be impacted by the residential aspect of the area).

Then you get the behind-the-scenes stuff, like the hospitality boxes and banqueting facilities. SUFC could possibly do more to hire their function rooms out during the week at Roots Hall, but I'd imagine they'd have a lot more success at a sparkling new stadium. I'm aware Gillingham did a pretty good job improving the facilities within the main stand at Priestfield, and although I think that was before Tom's time, I'm sure he'd have a good idea about how we could similarly benefit.

Is all that enough to make the club (more) sustainable going forwards? I think it would be more sustainable, but I'm not sure we'll ever get the stage where we are actually self-sustainable, Ron Martin or otherwise.

 

[brigg blue]

Toms doing a great job under awful conditions, but like it or not Ron still pays the cheques and has the final say on financial decisions. He can give Tom a budget to work with which again i’m sure Tom keeps too and works wonders on but if the guy above him,
Ie Ron isn’t paying the bills we’re screwed.

You can harp on about revenue from the new stadium all you like but the fact of the matter is the club have been screwed over by SBC and Ron on securing a safe and financially sustainable future for the club.

We have gone from a hotel, cinema and retail park which would have generated huge amounts of revenue for the club on non match days to just a banqueting suite. That’s hardly going to make us financially sustainable is it despite what waffle Ron will tell you.

The banqueting suite isn’t even going to be built initially as it will be in the main stand which is supposedly being built later (if Ron hasn’t run out of money by then) so there will be zero non match day income initially. So that could leave us with a 3 sided stadium with no non match revenue income that the club won’t even own and will be charged a rent to play there.

Dress it up all you like but anyone who thinks the new stadium (as per the current plans) will be of great benefit to SUFC is delusional

It will be just as beneficial as the original plans, the club were never going to own any of the restaurants/ hotels / nightclubs / burger King & taco Bell combined outlet / francie and bennies.

Any rent for these would have gone to Rons companies and the franchisees would have taken any profits.

The club would only ever have benefited from the improved facilities within the ground, anyone who thinks otherwise is missing the point of why capitalism exists

 

[Rayleigh boy]

umm - amazing how everyone thinks the club is an unsustainable ..

the only reason its unsustainable is cos of the RM debt ..

RM now has 2 assets - RH and FF and still is unable to anything useful.

Two sites worth millions and he can't do a thing ..

What is the approximate turnover of SUFC ???

 

[WhiteNoise]

Follow-up statement

STATEMENT: PG SITE SERVICES

Following a good meeting this morning, where recent media content was discussed, both the Club and PG Site Services can confirm that the relationship remains strong. The parties are looking forward to continuing to work together for at least another two and a half years.

www.southendunited.co.uk

 

[Rayleigh boy]

PG SITE SERVICES (S.E.) LIMITED people - Find and update company information - GOV.UK

PG SITE SERVICES (S.E.) LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity

find-and-update.company-information.service.gov.uk

theres a surprise

 

[Blue43]

Yes, that's how I understood it as well.

It's not hard to imagine how we can generate more money for the football club from a new stadium (once completed) compared to Roots Hall, even if the club haven't done a great deal of shouting about how that would actually happen. For a start there's the reported £300k-£400k required to obtain a safety certificate for Roots Hall that presumably would be a lot lower at a new-build.

After that, a new stadium, even at 16,500-capacity, would be in line for England youth internationals; just up the road Colchester have had quite a few of those (at 10,000-capacity) since the Community Stadium was constructed. Then there would be the potential for concerts (although I'm not sure if that would be impacted by the residential aspect of the area).

Then you get the behind-the-scenes stuff, like the hospitality boxes and banqueting facilities. SUFC could possibly do more to hire their function rooms out during the week at Roots Hall, but I'd imagine they'd have a lot more success at a sparkling new stadium. I'm aware Gillingham did a pretty good job improving the facilities within the main stand at Priestfield, and although I think that was before Tom's time, I'm sure he'd have a good idea about how we could similarly benefit.

Is all that enough to make the club (more) sustainable going forwards? I think it would be more sustainable, but I'm not sure we'll ever get the stage where we are actually self-sustainable, Ron Martin or otherwise.

The two clubs you mention there Colchester and Gillingham are struggling both on and off the pitch so won’t be holding my breath on a brighter future if we are modelling ourselves on them types of clubs

 

[tommy tucker]

PG SITE SERVICES (S.E.) LIMITED people - Find and update company information - GOV.UK

PG SITE SERVICES (S.E.) LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity

find-and-update.company-information.service.gov.uk

theres a surprise

What is a suprise that Tom Lawance was .Or PGsite sevices had a change of heart .Didnt you find it a little strange that a big company used Face book to put out that post .Or as a beleve it was not them but someone sturing the **** .Against the club .

 

[mattytheshrimper]

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

Lets hope we can actually with a FA cup game for once then.

 

[Evening Echo]

PG Site Services are to stay as sponsors of Southend United.

Read more on this story


Help with Echo links

 

[mattytheshrimper]

We have gone from a hotel, cinema and retail park which would have generated huge amounts of revenue for the club on non match days to just a banqueting suite.

It'll probably only be available for hire on a Tuesday once a month between 8am & 9am with 90% of the fee going to ronald mcdonald and family on a 100 year deal. Real big money earner for us.

 

[Fairport]

As has been debated on this thread the extra income that football clubs need to survive is via match day hospitality and events such as business, careers and wedding fayres and exhibitions etc. Am I right in thinking that the facilities for all of these will only be in place when the fourth stand is built? If so, then the future looks very bleak indeed.

 

[Ghost of C.F.]

The meeting was never arranged and he has not been on the Zone since.

Please stop lying about me .
You should tender your resignation as a moderator.
When people tell lies sponsorship is lost.
That is what is happening at the club right now. The Club and Shrimperzone have a lot in common when it comes to values and principles . I will say no more on that .
More sponsors/advertisers are set to leave in line with our ratcheting up policy.
And then there is the outstanding question of cheating - betterment of the playing
squad whilst failing to pay back-office staff . An application for a points deduction
has been sent to National League chiefs . We are waiting for a reply back.
We are seeking delay with the Fossetts scheme - our independent financial advice
indicates no improvement in our finances if it goes ahead . Insufficient revenue streams.

Matt - nice to talk to you again . I can tell you that I am not associated with PG
in any way but I can assure you that they are a very decent and honest company
to trade with . That is much more than can be said for the modern day Augean Stables which is Shrimperzone . What have you got to say about all of this ,Steve ?

 

[Exiled Shrimper]

As has been debated on this thread the extra income that football clubs need to survive is via match day hospitality and events such as business, careers and wedding fayres and exhibitions etc. Am I right in thinking that the facilities for all of these will only be in place when the fourth stand is built? If so, then the future looks very bleak indeed.

This article from June suggests that there will be more "corporate and entertainment space" in the initial phase of building (so the first three sides) under the refined plans: https://www.southendunited.co.uk/news/2022/june/progress-made-towards-new-stadium-development/

 

[Gustafferson]

Please stop lying about me .
You should tender your resignation as a moderator.
When people tell lies sponsorship is lost.
That is what is happening at the club right now. The Club and Shrimperzone have a lot in common when it comes to values and principles . I will say no more on that .
More sponsors/advertisers are set to leave in line with our ratcheting up policy.
And then there is the outstanding question of cheating - betterment of the playing
squad whilst failing to pay back-office staff . An application for a points deduction
has been sent to National League chiefs . We are waiting for a reply back.
We are seeking delay with the Fossetts scheme - our independent financial advice
indicates no improvement in our finances if it goes ahead . Insufficient revenue streams.

Matt - nice to talk to you again . I can tell you that I am not associated with PG
in any way but I can assure you that they are a very decent and honest company
to trade with . That is much more than can be said for the modern day Augean Stables which is Shrimperzone . What have you got to say about all of this ,Steve ?

Coming on here to tell us you're advocating for a points deduction is unlikely to win many over... Although for such an unhinged post, the greek mythology reference was a welcome surprise!