When will the takeover go through? The Waiting Game...

[Westcliff DGS]

I’m tethering my excitement until a positive COSU statement saying they now own the club is released. Looking good though.

Agree, but that statement says he hopes the consortiums for demands are met, but as yet we do not know and this is RM after all. Be good to know what those demands are

 

[Uncle_Rons_Teapot]

a big hurdle out the way

 

[Westcliff DGS]

We've agreed Heads of Terms (the principles under which we will test a proposal through due diligence).

The club still need to work with COSU on completing the sale but this is a positive step.

What are COSU’s fair demands (using your words)

 

[Spaceman Spiff]

Yes but have Ron or Jack actually signed anything to say these agreed HoTs will stay agreed?

 

[Ealingshrimp]

We've agreed Heads of Terms (the principles under which we will test a proposal through due diligence).

The club still need to work with COSU on completing the sale but this is a positive step.

Thank you and your team for all the incredibly hard work you have done these past few weeks.

 

[Smiffy]

All eyes on COSU now then…

Drive it home lads.

 

[Cricko]

Yes but have Ron or Jack actually signed anything to say these agreed HoTs will stay agreed?

They are negotiating on whose pen to use.

 

[Yorkshire Blue]

That’s means the takeover should complete now ?

It won’t complete tonight if that’s what you mean.

The Consortium will want it done by the end of the week as wages are due then but it’ll take time to finalise things even if everything is agreed in principle and Ron has conceded on everything.

 

[Medway Blue]

Yes but have Ron or Jack actually signed anything to say these agreed HoTs will stay agreed?

Yep

 

[Spaceman Spiff]

All eyes on COSU now then…

Drive it home lads.

That’s Shrimpet’s job

 

[bazzashrimper]

We've agreed Heads of Terms (the principles under which we will test a proposal through due diligence).

The club still need to work with COSU on completing the sale but this is a positive step.

Fab. Thank you to you and the hard working team.

So this now goes back to DD. Do you have a rough timeline for this - or is that tomorrows work?

 

[Medway Blue]

Yep

How watertight that is I don't know.....but at least something is signed.

 

[Uncle_Rons_Teapot]

They are negotiating on whose pen to use.

Red, Blue, Black or Green ink?

 

[londonblue]

https://twitter.com/x/status/1806018835910127718

I'd love to have been a fly on the wall last night during the "frank and unfettered discussion".

 

[Wickford Blue]

I'd love to have been a fly on the wall last night during the "frank and unfettered discussion".

I Love Daniel Cowan ......he has just forced the issue and brought a conclusion!

Roll on confirmation of sale and us standing on whichever leg the NL wants us to in order to cancel Embargo.

If I was the consortium I would be asking some serious legal questions of the NL - I think the are just making it up as they go along!

 

[CllrDanielCowan]

Nah - the less politics in the deal the better. Council has already voted to delegate to leader and council officers - I'd say keep it that way.

If this new deal will need to go to a council vote I don't know @CllrDanielCowan can you clarify if further council votes will be needed

It will be subject to a cabinet report and council but that doesn't need to be done to go through DD. We can line it up for the end to save time.

To comment on @SunSea&Shrimpers' point. Cabinet agendas and papers have to be published well in advance (legal requirement) so the business on the agenda doesn't necessarily reflect what is happening on that day. We had a confidential discussion at the end of Cabinet about SUFC just to reassure you that it is being discussed and worked on daily.

 

[tommy tucker]

Yep

Surly if the HOT have been agreed with citizens housing and as son of rattie is part of that company I guess he has signed on the dotted line

 

[Tribal Chief]

It will be subject to a cabinet report and council but that doesn't need to be done to go through DD. We can line it up for the end to save time.

To comment on @SunSea&Shrimpers' point. Cabinet agendas and papers have to be published well in advance (legal requirement) so the business on the agenda doesn't necessarily reflect what is happening on that day. We had a confidential discussion at the end of Cabinet about SUFC just to reassure you that it is being discussed and worked on daily.

Thank you Mr Cowan. I will reiterate my earlier point - you done good.

 

[Tribal Chief]

Surly if the HOT have been agreed with citizens housing and as son of rattie is part of that company I guess he has signed on the dotted line

Yes, he has. I am beyond relieved.

 

[Shrimper1985]

It will be subject to a cabinet report and council but that doesn't need to be done to go through DD. We can line it up for the end to save time.

To comment on @SunSea&Shrimpers' point. Cabinet agendas and papers have to be published well in advance (legal requirement) so the business on the agenda doesn't necessarily reflect what is happening on that day. We had a confidential discussion at the end of Cabinet about SUFC just to reassure you that it is being discussed and worked on daily.

Thank you for everything you have done for this club. Myself and my children will have a team to watch for years to come.