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

[BoyWonder2]

I love how most who claim to know what's going on actually know sod all and just like pot stirring.

Those that know have played their cards close and have been been called liars more than once but have been proven correct 9 times out of 10.

Let's see what the weekend brings (more pot stirring no doubt )

I don’t think anyone is “pot stirring” other than Wolfy was.

Those who have their fingers on the pulse with this have posted with good intentions, not to “pot stir”.

We have a fanbase who have been on their knees for a long time, and a football club who on numerous occasions could have been no more. Why would anyone want to “pot stir” with them? Makes zero sense.

 

[Liam AAS]

But he has loaded intercompany charges onto the club ( March 2023) just before announcing the sale, presumably to get first in the queue if he puts the club into administration. The act of an asset stripper and shyster!

That's only relevant *if* the club can be bought out of admin. No guarantees of that.

 

[PIERS]

its fairly straight forward for our new investors...

they buy the club, they buy roots hall they buy the training ground...

they then pay of the so called 'club' debts. thats negotiable...

the 'club' and the ground HAVE to be one entity..

the COSU then redevelop all the parts they can of Roots Hall for profit..

whilst making the rest a footy ground that is fit for purpose and generates revenue..

 

[Wingnut]

Have Ron and Jack ever closed a deal in their lives?

I don’t even think they have even built anything they just buy and sell land

 

[Bromley Blue]

its fairly straight forward for our new investors...

they buy the club, they buy roots hall they buy the training ground...

they then pay of the so called 'club' debts. thats negotiable...

the 'club' and the ground HAVE to be one entity..

the COSU then redevelop all the parts they can of Roots Hall for profit..

whilst making the rest a footy ground that is fit for purpose and generates revenue..

Thanks for that. You left out the straightforward bit?!

 

[Somerset Ex-TTB]

its fairly straight forward for our new investors...

they buy the club, they buy roots hall they buy the training ground...

they then pay of the so called 'club' debts. thats negotiable...

the 'club' and the ground HAVE to be one entity..

the COSU then redevelop all the parts they can of Roots Hall for profit..

whilst making the rest a footy ground that is fit for purpose and generates revenue..

The club and ground can’t be one entity. It will be at least another 3 months before DD is done by the council and until that is done and PP greeted, rat is not going to relinquish control over Roots Hall.

The club can’t wait that long for many reasons, including paying the £1m bond to the NL, and for COSU to continue to fund wages, including paying off PG site when they still have no guarantee that they will ever own anything.

 

[Holy Joe]

The club and ground can’t be one entity. It will be at least another 3 months before DD is done by the council and until that is done and PP greeted, rat is not going to relinquish control over Roots Hall.

The club can’t wait that long for many reasons, including paying the £1m bond to the NL, and for COSU to continue to fund wages, including paying off PG site when they still have no guarantee that they will ever own anything.

Its also not the consortiums plan for the club, owned by COSU, to own RH. POSU will own RH.

 

[Tommy2holes]

Yes but it just takes one multi million development company of which there are many, or one complete ******* shiester like rm to buy it, sit on it for x amount of years then act.

True but if the council wrap it up so that it's

A) A community asset
B) Green belt
C) Uphold the covenant

Then nobody will touch it. It just wouldn't be worth the aggro

There would also be a high risk of protests and criminal damage to plant etc..

 

[tommy tucker]

Ok so it do battle again the bout between COSU And rattie May the best side win That has to be COSU the money men v a broke Rattie Iknow where my vote goes and it is not rat man

 

[Flinty]

There are some interesting comments on ‘X’ regarding the funding. It suggests that the Martins need to council on board to assist fund the development and without this funding, as well as Planning, the scheme dies. Someone suggested that he could find another funder if the council pull out, but apparently due to the involvement of Pension Trusts, they required the safety of a Government backed investor rather than another riskier commercial entity …

 

[Yorkshire Blue]

But he has loaded intercompany charges onto the club ( March 2023) just before announcing the sale, presumably to get first in the queue if he puts the club into administration. The act of an asset stripper and shyster!

FWIW he didn’t load intercompany charges onto the club in March 2023 before announcing the sale.

He was redistributing between group companies the existing secured debt.

 

[Holy Joe]

There are some interesting comments on ‘X’ regarding the funding. It suggests that the Martins need to council on board to assist fund the development and without this funding, as well as Planning, the scheme dies. Someone suggested that he could find another funder if the council pull out, but apparently due to the involvement of Pension Trusts, they required the safety of a Government backed investor rather than another riskier commercial entity …

Pretty sure the original deal was announced as no money upfront from the council - that was part of the attraction for the council.

Pensions certainly DO NOT only invest in Govt backed investors. But the council agreeing to lease the properties will be more attractive than say a house builder looking to lease them.

 

[tommy tucker]

Pretty sure the original deal was announced as no money upfront from the council - that was part of the attraction for the council.

Pensions certainly DO NOT only invest in Govt backed investors. But the council agreeing to lease the properties will be more attractive than say a house builder looking to lease them.

Am i not right even if the rat pulled the plug on the deal And he sold the land off foe devlopment Who ever brought the land would still have to go to the council planning And if the council refuses planing Surly rattie knows this or is he rally that stupid

 

[Holy Joe]

Am i not right even if the rat pulled the plug on the deal And he sold the land off foe devlopment Who ever brought the land would still have to go to the council planning And if the council refuses planing Surly rattie knows this or is he rally that stupid

Planning permission sits with the land - so anyone could buy FF, build a stadium and the properties that currently have PP. But that's unlikely. In practice yes any new purchaser would need to acquire PP.

I wouldn't be too confident that PP wouldn't be granted either by the council or on appeal to govt

 

[Medway Blue]

Pretty sure the original deal was announced as no money upfront from the council - that was part of the attraction for the council.

Pensions certainly DO NOT only invest in Govt backed investors. But the council agreeing to lease the properties will be more attractive than say a house builder looking to lease them.

There is truth in this, though I don't know if the Pension Fund is a factor. More the size and type/specifics of the development and the way it has to be funded mean that it's almost certain not to get picked-up if he were to go to market for another partner.

It is council or bust, as far as partners for this development go. If they walk, it's over. He knows this and has been told countless times, which is why I am just about retaining my optimism that he's just chancing his arm, and that a deal will be found.

 

[Tommy2holes]

Am i not right even if the rat pulled the plug on the deal And he sold the land off foe devlopment Who ever brought the land would still have to go to the council planning And if the council refuses planing Surly rattie knows this or is he rally that stupid

I can't see anyone getting planning if ratty pulls the plug.

Roots hall might be prime land but it's only prime if it could be built on. I'm not sure the council would grant anything to Rat or subsequent owners of rat sold it to be built on.

 

[Supershrimper]

There is truth in this, though I don't know if the Pension Fund is a factor. More the size and type/specifics of the development and the way it has to be funded mean that it's almost certain not to get picked-up if he were to go to market for another partner.

It is council or bust, as far as partners for this development go. If they walk, it's over. He knows this and has been told countless times, which is why I am just about retaining my optimism that he's just chancing his arm, and that a deal will be found.

He's chanced his arms that much he must believe that his is Ravana (Hindu God with 10 heads and 20 arms)

 

[Tommy2holes]

There is truth in this, though I don't believe it has anything to do with the Pension Fund. More the size and type/specifics of the development mean that it's almost certain not to get picked-up if he were to go to market for another partner.

It is council or bust, as far as partners for this development go. If they walk, it's over. He knows this and has been told countless times, which is why I am just about retaining my optimism that he's just chancing his arm, and that a deal will be found.

As someone thats far more in the know from me.

How would you rate the chances of COSU obtaining (separating) the club?

Initially I was thinking it was about 90% but it seems thinks may be shifting

 

[Sammy Shrimper]

FWIW he didn’t load intercompany charges onto the club in March 2023 before announcing the sale.

He was redistributing between group companies the existing secured debt.

Any idea why he redistributed the majority of the debt to Mezcal, his BVI entity?

 

[Shrimper]

Lets hope for good news today. God knows we need it