When will the takeover go through? Council / Citizen Housing agree new Heads of Terms 26 June

[Tommy2holes]

I dont know why Ron can't complete the sale of the club and roots hall to the consortium.

Let's be honest. If the council turn down the extra houses at Fossetts, the deal is dead regardless.

No way the council then agreed for roots hall to be bulldozed and the club made homeless. The backlash would be substantial and damaging for the council.

 

[Sammy Shrimper]

I think there was talk of a long lease being granted in the terms. How that helps us i haven't a clue, it still means the Rat owns the Hall.

The question is just that, when do the consortium actually own RH lock stock and barrel.

Ron Martin stated that Roots Hall will be sold for a £1 following the granting of planning permission for Fossets in the Glenn Pennyfather interview a couple of weeks ago.
Of course, it must be true

 

[Morty01]

We're ****ed aren't we

 

[* ORM *]

Goal posts being constantly moved doesn't help the situation but thats probably been the rats plan all along..... put himself into position so he can dictate and engineer this sorry mess in his favour which has now backed the council into a corner where they practically have to agree to his demands as the club future is on the line. This deal sucks tbh, the rat still controlling the club now and it's future, jeez what lovely thought.

If they hadn’t moved the goalposts would we have scored more?

 

[Crowstone Crevette]

I've gone for never as we're 13 months into the sale 'process' and still not done.

If we're not done by June, it feels like it could be one final 'wallop' after a crash and a bang.

Don't see us starting next season unless we're in new hands.

"...what a picture, what a photograph...".

 

[Bearded Shrimper]

I dont know why Ron can't complete the sale of the club and roots hall to the consortium.

Let's be honest. If the council turn down the extra houses at Fossetts, the deal is dead regardless.

No way the council then agreed for roots hall to be bulldozed and the club made homeless. The backlash would be substantial and damaging for the council.

coz he's using the club to blackmail the council over his dodgy deal?

 

[Medway Blue]

I dont know why Ron can't complete the sale of the club and roots hall to the consortium.

Let's be honest. If the council turn down the extra houses at Fossetts, the deal is dead regardless.

No way the council then agreed for roots hall to be bulldozed and the club made homeless. The backlash would be substantial and damaging for the council.

Roots Hall cannot transfer to the club/Consortium until it is charge-free.

Roots Hall cannot be charge-free until Ron Martin has another valuable asset to transfer the charges to, or some liquidity so he can satisfy them - and planning permission for Fossetts is the only way that either of those things will happen.

Ron Martin won't sign over the football club until he has some assurances from the council around the Fossetts plans. It seems that the agreement of the leases of the Fossetts properties by the council is enough assurance for him. That Agreement for Lease can be signed once the council has completed it's Due Diligence and audit, and Cabinet is satisfied that financial risk to the council has been mitigated enough. Once the Agreement for Lease is signed, the club can be signed over to COSU and Roots Hall will hopefully follow charge-free if and when Fossetts planning permission is granted.

 

[tommy tucker]

And the band plays on Is there not a song called the never ending story .That seems to fit the problem Ron the council and the concortium very well .

 

[wiggy]

Looking like never to me all this stop and start……obstacle after obstacle with two very awkward customers, Rat and Council that want to make life difficult which will test there patience and walk away. Ron’s ambition before he pegs it is to get his own back on those nasty people that camped outside his house and made him look like a bad man

 

[kentblues]

Roots Hall cannot transfer to the club/Consortium until it is charge-free.

Roots Hall cannot be charge-free until Ron Martin has another valuable asset to transfer the charges to, or some liquidity so he can satisfy them - and planning permission for Fossetts is the only way that either of those things will happen.

Ron Martin won't sign over the football club until he has some assurances from the council around the Fossetts plans. It seems that the agreement of the leases of the Fossetts properties by the council is enough assurance for him. That Agreement for Lease can be signed once the council has completed it's Due Diligence and audit, and Cabinet is satisfied that financial risk to the council has been mitigated enough. Once the Agreement for Lease is signed, the club can be signed over to COSU and Roots Hall will hopefully follow charge-free if and when Fossetts planning permission is granted.

I would add that the charge on RH is via CRBE who are also leading the funding of the FF development. So this makes it easier to contract for - CRBE will agree contractually to a funding schedule that will include releasing or transferring the charge from RH at an agreed point I imagine. Maybe that point is revised planning being granted.
The 25 lease gives the club some long term certainty/protection in the meantime.
How the charge on RH was going to be settled given the sale price of £1 and Ron being broke was an often raised question. This is how it gets addressed.

 

[Barry.C]

19 days to the next winding up order, so hopefully the 4th meeting on Monday wont result in another meeting to consider more due diligence

 

[Napster]

The only winners in the whole mess are the lawyers and CBRE. Plus sa change etc

 

[tommy tucker]

AS these wonderful councilors are doing there level best to save our club These so called seaon ticket holders .Are doing sweet F A to get southend united under new owners .Al they are doing is havcing a meeting then another meeting And so on and so forth .Imstad of all the waffle just get on with it Time is fast running out in case you had not noticed .

 

[meerkat54]

AS these wonderful councilors are doing there level best to save our club These so called seaon ticket holders .Are doing sweet F A to get southend united under new owners .Al they are doing is havcing a meeting then another meeting And so on and so forth .Imstad of all the waffle just get on with it Time is fast running out in case you had not noticed .

Think it’s a bit tough having a dig at season ticket holders TT.
I understand your frustration with all this dragging on. I’m totally pee’d off with it all, but I don’t personally think we can influence proceedings.
Just hope it’s concluded earlier rather than laterer.

 

[CaptainSmudger]

 

[tommy tucker]

Think it’s a bit tough having a dig at season ticket holders TT.
I understand your frustration with all this dragging on. I’m totally pee’d off with it all, but I don’t personally think we can influence proceedings.
Just hope it’s concluded earlier rather than laterer.

Im not having a dig at season ticket holders Im saying the so call blues fans on the council .Should stop all the talk and do something to help get the club out of the mess its in at the moment . Players we wont to bring in to the club mat well shy away untill new owners are installed And would you blaim them .

 

[Chrisb]

Im not having a dig at season ticket holders Im saying the so call blues fans on the council .Should stop all the talk and do something to help get the club out of the mess its in at the moment . Players we wont to bring in to the club mat well shy away untill new owners are installed And would you blaim them .

To be fair Tommy I think the council are doing all they can to help things along.

 

[bazzashrimper]

Yeah. They can’t risk bankrupting the city.

 

[Thor1]

Has Ron moved into Wicks? Seems they named the street after him.

 

[RHB]

Im not having a dig at season ticket holders Im saying the so call blues fans on the council .Should stop all the talk and do something to help get the club out of the mess its in at the moment . Players we wont to bring in to the club mat well shy away untill new owners are installed And would you blaim them .

As has been said Tommy, the Council have to satisfy themselves that they can't/wont be shafted by Ron and his financial buddies when it comes to rentals and payments to Ron's companies. We all want the sale to progress as quickly as possible, but as a resident of Southend I don't want to see my Council Tax needlessly wasted though being diverted to the Rat and Co because he out manoeuvred the Council.