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

[Shrimpergonzo]

This being about the £20million confused me as surely that is part of the deal with the Council and not with COSU? Will come as part of the s106 agreement linked to the revised planning permission - therefore that is not for COSU to negotiate.

However, I can see the rat family saying the original deal for the club is off the table now because it doesn’t stack up if they have to pay £20million down the road as it’s no longer financially viable.

I am therefore assuming that is the problem and what they are negotiating, possibly about the lease on Roots Hall no longer being free but them charging rent.

 

[Chrisb]

They exchanged contracts months ago - surprised the terms agreed then are not binding regardless of the Council deal.

 

[Hampshire Shrimp]

They exchanged contracts months ago - surprised the terms agreed then are not binding regardless of the Council deal.

And we wonder why the NL are putting safeguards in place?

 

[Booma]

Those ITK have been very quiet today, I don’t know if that’s a good or bad thing. I guess they’ve nothing to share, but there’s a lot of us desperate for some crumb of comfort

 

[Tribal Chief]

@Tribal Chief any update?

Just Ron being Ron. Still confident it gets done.

 

[danbowen]

Just Ron being Ron. Still confident it gets done.

Today?

 

[wildheart]

This being about the £20million confused me as surely that is part of the deal with the Council and not with COSU? Will come as part of the s106 agreement linked to the revised planning permission - therefore that is not for COSU to negotiate.

However, I can see the rat family saying the original deal for the club is off the table now because it doesn’t stack up if they have to pay £20million down the road as it’s no longer financially viable.

I am therefore assuming that is the problem and what they are negotiating, possibly about the lease on Roots Hall no longer being free but them charging rent.

Thats a really good point, but so much water has gone under the bridge since. With a new council leader at the helm. To use s106 or CIL for the development of a sole Football Stadia is not common, its not like RH can be considered a multi use community asset. I’ve spoken to my planning colleagues about the situation which they had with the Essex Race Course, there was a fair amount of blood spilt over that palaver. The developer of that stadia and the Rat have a lot in common.

 

[Shrimper]

Today?

On a day ending in Y

 

[Tribal Chief]

Today?

Maybe. But more likely tomorrow. Just my opinion and I’m undoubtedly biased, but I don’t think COSU have been too soft. They don’t have a strong negotiating position unfortunately because they have said they want to buy the club and they want to do it now. It’s a position that is ideal for an unscrupulous fellow like Ron.

 

[Tribal Chief]

On a day ending in Y

Is this the new muh 95% meme? Tiresome.

 

[Tribal Chief]

Those ITK have been very quiet today, I don’t know if that’s a good or bad thing. I guess they’ve nothing to share, but there’s a lot of us desperate for some crumb of comfort

There’s not much to share. Nobody is live texting the discussions. If my Dad was buying the club I wouldn’t expect him to be giving live updates. Especially as he’s probably Adrian Quist and doesn’t know how to text.

 

[kentblues]

They exchanged contracts months ago - surprised the terms agreed then are not binding regardless of the Council deal.

I assume that this was subject to DD passing on the deal with SCC and it didn’t. So in Ron world there is now a new deal and hence Ron saying the deal with COSU needs to adjust accordingly… in a way it’s good it’s this holding it up as they can work through it. Worse would be if the was an issue decoupling club and selling separately at all.

 

[Shr1mperBlue]

Maybe. But more likely tomorrow. Just my opinion and I’m undoubtedly biased, but I don’t think COSU have been too soft. They don’t have a strong negotiating position unfortunately because they have said they want to buy the club and they want to do it now. It’s a position that is ideal for an unscrupulous fellow like Ron.

Exactly this. Far too many people telling COSU they are soft or being taken for mugs by the Martins. Too many people saying they need to throw down take it or leave it demands. These guys are proper businessman and won’t be playing games. They want something that Ron has and if they still want it they’ll just have to continue with this god like patience and keep chipping away. They’ll get there - I have confidence in them. Never met any of them, but they’ve come this far and the end is now so close.

 

[Mark Corrigan]

@Tribal Chief thanks, still fairly positive then. What about the NL deadline of today, has that been extended?

 

[GBJ]

@Tribal Chief thanks, still fairly positive then. What about the NL deadline of today, has that been extended?

Sort of, but not voluntarily by them.

We’ve submitted an appeal to the sanction - as is our right - which needs to be dealt with first. By default, that moved back todays deadline.

Unfortunately, we don’t know how long for. Could be tomorrow, Wednesday, end of the week? All depends on how long it takes the relevant people to hear (and throw out) the appeal.

 

[tommy tucker]

So it's another day tomorrow even if it goes into Wednesday All good things are worth waiting for

 

[GBJ]

Maybe. But more likely tomorrow. Just my opinion and I’m undoubtedly biased, but I don’t think COSU have been too soft. They don’t have a strong negotiating position unfortunately because they have said they want to buy the club and they want to do it now. It’s a position that is ideal for an unscrupulous fellow like Ron.

This bond issue won’t have helped either, K.

If we know about it, then so does Ron (let’s face it he’s the master of delaying tactics afterall).

We are now, IMHO, in a race to get this deal done before we get kicked out of the NL. If that happens, bye-bye COSU I’d have thought.

Advantage: Ron

 

[Medway Blue]

Sorry but COSU need to grow a pair of steel ones and set a deadline. Martin has met every single threat and seen them as bluffs. He stands to lose a lot more than them. They need to show how serious they are

This cannot keep dragging on. How many times have we been told it's a BIG day or week for absolutely nothing to happen?

I don't blame people if they're losing interest frankly.

I'd say this is a little harsh. They don't have an awful lot of leverage. Everybody is playing a bit of a game of chicken, and each party would say the other has more to lose, but truthfully.......nobody knows what is a bluff.

This being about the £20million confused me as surely that is part of the deal with the Council and not with COSU? Will come as part of the s106 agreement linked to the revised planning permission - therefore that is not for COSU to negotiate.

However, I can see the rat family saying the original deal for the club is off the table now because it doesn’t stack up if they have to pay £20million down the road as it’s no longer financially viable.

I am therefore assuming that is the problem and what they are negotiating, possibly about the lease on Roots Hall no longer being free but them charging rent.

The £20m is facilitated by SCC and secured by S106s, but the agreement for it is between Martins and COSU. S106s don't exist until planning, so it's all theoretical at the moment anyway.

Those ITK have been very quiet today, I don’t know if that’s a good or bad thing. I guess they’ve nothing to share, but there’s a lot of us desperate for some crumb of comfort

There just hasn't been a lot to share. There were positive discussions today and I think it's close, but it's not done until it's all signed over. Hopefully tomorrow.

Sort of, but not voluntarily by them.

We’ve submitted an appeal to the sanction - as is our right - which needs to be dealt with first. By default, that moved back todays deadline.

Unfortunately, we don’t know how long for. Could be tomorrow, Wednesday, end of the week? All depends on how long it takes the relevant people to hear (and throw out) the appeal.

As things stood probably only 3 or 4 days. Who knows though, that might relax even more if it can be demonstrated that a deal has been agreed, and that the club needs the NL allow time for it all to be signed and sealed?

 

[Kestrel]

This bond issue won’t have helped either, K.

If we know about it, then so does Ron (let’s face it he’s the master of delaying tactics afterall).

We are now, IMHO, in a race to get this deal done before we get kicked out of the NL. If that happens, bye-bye COSU I’d have thought.

Advantage: Ron

in which case bye-bye any chance of PP being granted as, should the council stick to their guns, they will walk too

 

[tommy tucker]

This bond issue won’t have helped either, K.

If we know about it, then so does Ron (let’s face it he’s the master of delaying tactics afterall).

We are now, IMHO, in a race to get this deal done before we get kicked out of the NL. If that happens, bye-bye COSU I’d have thought.

Advantage: Ron

We have not been kicked out of the league And if it did happen which I doubt it will . Ron gains nothing no club no where to build So now money coming in So he stands to lose more anyone