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

[Holy Joe]

That clubs need to post a bond to not get sanctioned?

Failure to comply with financial rules can result in a bond being required. And if required, failure to provide bond will result in further sanctions.

 

[Callumturner22]

So if it’s not done by Monday what’s next will it be the league decision whether they give us any longer to show them what needed / pay what owed so we can’t take part for next season

 

[Bromley Blue]

That clubs need to post a bond to not get sanctioned?

I do remember chat about a bond last summer/close season. I don’t really understand what the difference is from then til now. We weren’t asked for it last year and surely we were in a worse position then?

 

[Holy Joe]

I do remember chat about a bond last summer/close season. I don’t really understand what the difference is from then til now. We weren’t asked for it last year and surely we were in a worse position then?

We've had our current funder (Cosu) issue a public statement threatening to cancel takeover if conditions are not met

 

[Avl1983]

So Monday is the deadline for the Bond or... what? Sanctions I think @CllrDanielCowan said.

What sanctions? I very much suspect that it will be expulsion. Pay £1m or get a points deduction isn't really a contest, is it? That sort of serious outcome also explains the 24/7 negotiations (but I am very happy to be proved wrong on that!).

The fixtures come out 10 July and from the NL perspective, no season tickets have gone on sale yet so you can understand why they may wonder whether are properly preparing for the season.

Why couldn't the sale of the club have been decoupled earlier?

Was it not always the case that Ron wasn't going to let RH go until he had the planning on FF? As I've always said, he can't get permission on plans that haven't been submitted yet and the council can't bind a future council to a decision where no plans have been submitted.

So what's changed?

If the club is to be decoupled from the stadium, then COSU will need some sort of security of tenure otherwise Ron will be able to take the stadium back for re-development if the FF plans fail to come good in however many years time.

Ron is not going to give that sort of tenancy because then he will be at risk of losing everything. Regardless of whether we think he may deserve it, no-one in their right mind is going to give up hundreds of millions of pounds.

At the moment, it costs Ron nothing to co-operate. But I can't see why on earth he would agree to a scenario that could one day mean he lost the lot.

So, are we now in a position where, in order to keep the club alive, COSU are going to have to pay the £1m Bond as well? And if they want to make RH the hub of a sustainable club, they aren't going to spend all that money redeveloping a stadium that can be taken away from them at a few months notice.

isn’t it something to do with the charges being held against the club by CBRE? COSU wanted them removed before the purchase but I’m assuming now the deal is to buy the club with the charges so more risk for COSU.

 

[londonblue]

If only it was that simple!

Indeed. It's probably waterproof.

 

[Snowy]

I guess at least that way we will be rid of the RAT, and may be able to deal more amicably with CBRE.

 

[Jack_23]

Positivity never lasts long as a shrimper

 

[Jay_SUFC]

Anthony Grant was the main man who chose to stay.

For that reason alone, he'll always be a Southend legend in my book

 

[Hawkwell Blue]

It needs RATifying ffs.

 

[londonblue]

So Monday is the deadline for the Bond or... what? Sanctions I think @CllrDanielCowan said.

What sanctions? I very much suspect that it will be expulsion. Pay £1m or get a points deduction isn't really a contest, is it? That sort of serious outcome also explains the 24/7 negotiations (but I am very happy to be proved wrong on that!).

The fixtures come out 10 July and from the NL perspective, no season tickets have gone on sale yet so you can understand why they may wonder whether are properly preparing for the season.

Why couldn't the sale of the club have been decoupled earlier?

Was it not always the case that Ron wasn't going to let RH go until he had the planning on FF? As I've always said, he can't get permission on plans that haven't been submitted yet and the council can't bind a future council to a decision where no plans have been submitted.

So what's changed?

If the club is to be decoupled from the stadium, then COSU will need some sort of security of tenure otherwise Ron will be able to take the stadium back for re-development if the FF plans fail to come good in however many years time.

Ron is not going to give that sort of tenancy because then he will be at risk of losing everything. Regardless of whether we think he may deserve it, no-one in their right mind is going to give up hundreds of millions of pounds.

At the moment, it costs Ron nothing to co-operate. But I can't see why on earth he would agree to a scenario that could one day mean he lost the lot.

So, are we now in a position where, in order to keep the club alive, COSU are going to have to pay the £1m Bond as well? And if they want to make RH the hub of a sustainable club, they aren't going to spend all that money redeveloping a stadium that can be taken away from them at a few months notice.

Interesting one that. It's worth pointing out that under Vik Jobson season tickets didn't go on sale until August.

 

[Flinty]

The charges are on RH not the club and this won’t be released until full planning at FF is obtained. I should imagine COSU require at least

firm commitments to the lease on RH
Timeline to full planning

 

[Holy Joe]

CLlr deems it necessary to fire another shot across the bow of the pirate ship Martin

 

[SunSea&Shrimpers]

View attachment 32547
CLlr deems it necessary to fire another shot across the bow of the pirate ship Martin

Well this can’t be good…

 

[overseas shrimper]

So the head of the council said the take over should be on monday He really did not beleve this as Ron said so It must have been a lie as Rons lips were moving

He didn't. He said it needs to be done by Monday. Not the same thing.

 

[tommy tucker]

Well this can’t be good…

No one knows it depends how stupid rattie is If he wants to lose everything Then he is bloody stupid Maybe he or his son has 1 millon pounds tucked under the bed to pay the bond

 

[Cricko]

The rat needs a good slap and stop being some primadonna who has illusions about himself as some sort of business man. He is a failure.

 

[overseas shrimper]

Well this can’t be good…

Why do people read into these things what they want? We don't know if this is bad or if it means nothing more than what it is. Just a reminder while the Martins drag things out, as they do.

 

[Snowy]

Beggars belief, we just want to be rid of the Rat.

 

[Snowy]

Would love to see a deal done where he has no control over the club, Roots Hall or training facilities and then the Council play hard ball with him and renegotiate terms. Have some of your own medicine.