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Transfer Embargo, Winding Up Petition & Staff Salary Issues

You've answered the situation yourself. SUFC isn't insolvent (it has the backing of RM – or his group of companies), it pays its creditors (albeit very late). If any creditor goes to court to liquidate the business (HMRC) or attempts to put it into Administration, then the bills get paid.

but if you take the scenario of a club in chaos and with total unrest - (even Orient had a fans on the pitch) the value of club evaporates very very quickly.

it becomes no longer a viable concern and creditors demand money .. and it goes under.

I don't think we are quite at the S==T or bust stage yet... but we were very close last year.

The fans are the club and the fans do have the final lever ... always.

However bad the situation the fans have the final say ..

In our current situation I would say RM is in last chance saloon -

any more rubbish from him that affects the team and I think it will take a lot more than SVC to save his bacon ...
 
I hear what you’re saying mate but perhaps there’s a slight tweak that might be closer to the situation - the football club is effectively insolvent, as it doesn’t earn enough to cover its outgoings, but prevented from being actually insolvent by Ron’s group of companies (outside the football club itself) transferring cash to keep the lights on.

2019 - company house accounts - a turnover of over 7 million ...

plus planning at FF and RH

only an idiot or greedy idiot could make a mess of that and not be
able to operate an EFL club at L1/2 level ..
 
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I hear what you’re saying mate but perhaps there’s a slight tweak that might be closer to the situation - the football club is effectively insolvent, as it doesn’t earn enough to cover its outgoings, but prevented from being actually insolvent by Ron’s group of companies (outside the football club itself) transferring cash to keep the lights on.
I agree with you there. One thing. If this is the case why do we still get an embargo and late payment of wages. Surely if these other companies are keeping us afloat why not transfer cash to stop this happening.
 
I agree with you there. One thing. If this is the case why do we still get an embargo and late payment of wages. Surely if these other companies are keeping us afloat why not transfer cash to stop this happening.
Ron has said before that the other companies assets are not liquid hence delay in cash coming from another company, how true that is who knows? But if there is something that is 100% true it's that Ron is not cash rich so can't willingly transfer money to pay the clubs outgoings as and when the club requires.
 
Ron has said before that the other companies assets are not liquid hence delay in cash coming from another company, how true that is who knows? But if there is something that is 100% true it's that Ron is not cash rich so can't willingly transfer money to pay the clubs outgoings as and when the club requires.
I feel there should be some forward planning though. Just goes to show his business acumen
 
Ron has said before that the other companies assets are not liquid hence delay in cash coming from another company, how true that is who knows? But if there is something that is 100% true it's that Ron is not cash rich so can't willingly transfer money to pay the clubs outgoings as and when the club requires.
It probably is true, but with proper forecasting they should know when they're likely to run out of money.
 
I think you are missing my point. If the other companies are keeping us afloat why not raise the cash before we get to these situations.
Because he will borrow against an asset in that business where interest will be due.

If he took it all upfront at the start of the season, he’d pay a bigger interest across the year and therefore SUFC would be in more debt to his other businesses.

He doesn’t move money from one account to another.

He will take an asset. Mortgage it. Take that money from the bank (minus fees and interest) and move that into SUFC.

Banks will have him by the curlies as they know he’s desperate and will charge higher rates if interest.

So when his forecasting, he will use best case senario (money realized from stadium development) and hope that works out. As it hasn’t this time, he will be on the phone getting that loan/pay out from the bank and will push the football club and him further into bed because at some point that money/interest/fees/time has to be paid back.l and that only happens when the stadium is built.

It’s why it’s worth more to him than any investor (especially those looking to make a return…think pension fund) and we have to stick it out.
 
Because he will borrow against an asset in that business where interest will be due.

If he took it all upfront at the start of the season, he’d pay a bigger interest across the year and therefore SUFC would be in more debt to his other businesses.

He doesn’t move money from one account to another.

He will take an asset. Mortgage it. Take that money from the bank (minus fees and interest) and move that into SUFC.

Banks will have him by the curlies as they know he’s desperate and will charge higher rates if interest.

So when his forecasting, he will use best case senario (money realized from stadium development) and hope that works out. As it hasn’t this time, he will be on the phone getting that loan/pay out from the bank and will push the football club and him further into bed because at some point that money/interest/fees/time has to be paid back.l and that only happens when the stadium is built.

It’s why it’s worth more to him than any investor (especially those looking to make a return…think pension fund) and we have to stick it out.

with a turnover of GBP 7 million on SUFC in 2019 (companies house accounts - open access - no search fees) he has been mugging off fans with his "I put loadsa of money into the club" nonsense ..

I suspect cash rolling onto SUFC has been holding up RMs other ventures ..
 
Because he will borrow against an asset in that business where interest will be due.

If he took it all upfront at the start of the season, he’d pay a bigger interest across the year and therefore SUFC would be in more debt to his other businesses.

He doesn’t move money from one account to another.

He will take an asset. Mortgage it. Take that money from the bank (minus fees and interest) and move that into SUFC.

Banks will have him by the curlies as they know he’s desperate and will charge higher rates if interest.

So when his forecasting, he will use best case senario (money realized from stadium development) and hope that works out. As it hasn’t this time, he will be on the phone getting that loan/pay out from the bank and will push the football club and him further into bed because at some point that money/interest/fees/time has to be paid back.l and that only happens when the stadium is built.

It’s why it’s worth more to him than any investor (especially those looking to make a return…think pension fund) and we have to stick it out.
Unfortunately you are right - I don't say that disrespectfully but just wish it wasn't the case.
 

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