Transfer Embargo, Winding Up Petition & Staff Salary Issues

[thenobster]

It's normally pretty fast once done

So, by that m, I’m assuming it’s not paid or have I missed something?

 

[The Big Dady]

Apologies if this has been mentioned elsewhere, but your club got a mention on "The Price of Football" podcast released today. First item, I think.

Thanks, very interesting.

Southend bit starts after Ukraine/World Cup bit.

 

[WestyReturns]

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.

Thats the way it has worked in the past but surely no respectable lender who does their DD would even consider loaning Ron money. It would be extremely high risk.

 

[tommy tucker]

Ok i have a daft question Why is Ron either not taking the money on offer from the prem leauge .Is this man completly stupid .Dont answer the question because i all ready know the answer .The last time the lower leauge club was offered help in the way of a loan .Ron said no thanks .So now the idiot has gone cap in hand the loan mones from a high intresst sorce .just goes o show the man has truely losy the plot .

 

[Holy Joe]

Thats the way it has worked in the past but surely no respectable lender who does their DD would even consider loaning Ron money. It would be extremely high risk.

The lending is typically secured - so relatively low risk, as long as the asset backing the loan is valued correctly. Ron defaults the lender seizes the asset.

 

[tommy tucker]

The lending is typically secured - so relatively low risk, as long as the asset backing the loan is valued correctly. Ron defaults the lender seizes the asset.

What you are saying is true .But i cant understand is a share of 9 millon between 72 clubs . Surly that would go a long way to either pay the staff .And pay some off the tax man .

 

[Holy Joe]

What you are saying is true .But i cant understand is a share of 9 millon between 72 clubs . Surly that would go a long way to either pay the staff .And pay some off the tax man .

I'm not sure of the loan scheme you're talking about. But I can imagine there were terms and conditions that maybe made it unpalatable. For example if it was classed as a football debt then the punishment from the league in the event of default/delayed repayment is much more severe than non-football debts.

 

[brigg blue]

Ok i have a daft question Why is Ron either not taking the money on offer from the prem leauge .Is this man completly stupid .Dont answer the question because i all ready know the answer .The last time the lower leauge club was offered help in the way of a loan .Ron said no thanks .So now the idiot has gone cap in hand the loan mones from a high intresst sorce .just goes o show the man has truely losy the plot .

IIRC taking the loan was only an option during covid and the restrictions for taking the loan meant that you couldn't pay a transfer fee, increase your wage bill or increase squad size until it was fully repaid.

Scunthorpe and a handful of others took the loans and are still in decline because of it, they survived the pandemic but that's it

 

[tommy tucker]

IIRC taking the loan was only an option during covid and the restrictions for taking the loan meant that you couldn't pay a transfer fee, increase your wage bill or increase squad size until it was fully repaid.

Scunthorpe and a handful of others took the loans and are still in decline because of it, they survived the pandemic but that's it

No the new 9millon was givento clubs on tuesday to be shared equaly amongst 72 national leauge clubs.Isaw no mention of a pat back loan .

 

[Mr Browns Ghost]

Ok i have a daft question Why is Ron either not taking the money on offer from the prem leauge .Is this man completly stupid .Dont answer the question because i all ready know the answer .The last time the lower leauge club was offered help in the way of a loan .Ron said no thanks .So now the idiot has gone cap in hand the loan mones from a high intresst sorce .just goes o show the man has truely losy the plot .

Because the money from the premier league is ring fenced to be used for football related matters.. Ron has no interest in having money in his pocket that can only be used for the good or better of this football club

 

[Holy Joe]

No the new 9millon was givento clubs on tuesday to be shared equaly amongst 72 national leauge clubs.Isaw no mention of a pat back loan .

So a grant rather than a loan?

And if it was only given to league on Tuesday it may have not been distributed to clubs yet?


Do you have a link to the details of this?

 

[Lincoln Shrimp]

It's normally pretty fast once done.

So a grant rather than a loan?

And if it was only given to league on Tuesday it may have not been distributed to clubs yet?


Do you have a link to the details of this?

PREMIER LEAGUE SUPPORT FOR NATIONAL LEAGUE

The Premier League has announced an increased investment package of £12.6m to support the National League over the next three years.

www.southendunited.co.uk

 

[Spaceman Spiff]

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.

 

[Holy Joe]

PREMIER LEAGUE SUPPORT FOR NATIONAL LEAGUE

The Premier League has announced an increased investment package of £12.6m to support the National League over the next three years.

www.southendunited.co.uk

Thanks - so the money available is spread over 3 years and it seems you probably apply for a contribution towards a project/enhancement, rather than it just being handed out to clubs to do what they like with.

I'm guessing it's the sort of thing our community team would apply for funding for.

Anyone know if we're going to apply for funding?



Edit - maybe not, rereading it looks like there are 2 schemes

 

[tommy tucker]

Either way Ron martin has told so many lies over the years .Ithink if his nose was to grow ecach time he has lied he would not be able to sit in the stands because his nose would encroch on to the pitch .The person i feel sorry for is 1 kevin mayher trying to get in good players to push for promotion .And two Daccers hearing say he has really enjoyed playing first team football .Only to have it stopped by achairman who could not careless that his actions hurt someone as long as its not him .THANKS RON .

 

[Dubai]

Pedantic. He doesn’t have readily available cash sitting in one account to move to another…

 

[Rayleigh boy]

Pedantic. He doesn’t have readily available cash sitting in one account to move to another…

i think we can probably assume he has no cash in his company accounts
- just overdrafts, loans, debts, -

and quite enough cash in his personal accounts .... thank you ...we do need to keep a nice car running.

 

[Holy Joe]

i think we can probably assume he has no cash in his company accounts
- just overdrafts, loans, debts, -

and quite enough cash in his personal accounts .... thank you ...we do need to keep a nice car running.

That'll be a company car I'd have thought - tax deductible no doubt

 

[Barry.C]

The 9 million over 3 years works out to £41.600 per club per season to help with running costs and sustainability; Not huge, but welcome
Separately and in addition a further £3.6m is available to support the National League Trust and network of club community organisations. I presume the latter has to be applied for

These monies are in addition to the £36m Premier leagues Stadium fund, also available over the next 3 years to help clubs across the football pyramid transform the matchday experience and improve sustainability

Has Ron copped a get out of gaol free card?

I await Toms totally open and transparent update on exactly how our club will benefit from the above 3 funds ?!

 

[tommy tucker]

The 9 million over 3 years works out to £41.600 per club per season to help with running costs and sustainability; Not huge, but welcome
Separately and in addition a further £3.6m is available to support the National League Trust and network of club community organisations. I presume the latter has to be applied for

These monies are in addition to the £36m Premier leagues Stadium fund, also available over the next 3 years to help clubs across the football pyramid transform the matchday experience and improve sustainability

Has Ron copped a get out of gaol free card?

I await Toms totally open and transparent update on exactly how our club will benefit from the above 3 funds ?!

Somehow yes this is welcome money but It seemes Ron would rather get a bridgeing loan than take this golden handshke of help .Its about time Tom spoke up and tell the fans what is happening .