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

[SeaSideDoughnut]

SABU, SABU, SABU, SABU.

 

[tommy tucker]

Will we get a statment today from either the head of the council .Telling us the deal has finaly been done as its final day FRIDAY .Or will justin give us a breif statment to assure us all is well in the camp . ????

 

[sufcrocks]

God I am bored with the whole.process.
All this shi* is down to one man.
FfS pull your finger out.

I couldn’t agree more mate…….its a real drag.

 

[Hampshire Shrimp]

Will we get a statment today from either the head of the council .Telling us the deal has finaly been done as its final day FRIDAY .Or will justin give us a breif statment to assure us all is well in the camp . ????

And the state of " The Can " will it be able to withstand one more kick for freedom

 

[SeldomSeenShrimper]

Will we get a statment today from either the head of the council .Telling us the deal has finaly been done as its final day FRIDAY .Or will justin give us a breif statment to assure us all is well in the camp . ????

I'd imagine we now wait for Wednesday to see the outcome of WUP

I personally won't fall for any "99% done" statements

 

[Holy Joe]

Will we get a statment today from either the head of the council .Telling us the deal has finaly been done as its final day FRIDAY .Or will justin give us a breif statment to assure us all is well in the camp . ????

At the very least I'd expect a weekly update from CLlr Cowan

The contents of the update - who knows!

 

[Tommy2holes]

We always said we would be happy to be a minority participant if the consortium wanted our involvement. we’ve kept an open dialogue with Justin and Tom, but so far have not been asked… which is understandable, given all the moving parts. They are great guys

That's good to hear. The consortiums strength is in its diversity. Lots of great ideas, well purposed people from all backgrounds. Of course. Sharing the financial burden reduces the risks massively and will stear us away from the current one mans destruction of the club.

The more the merrier, as long as the structure of running the club and hierarchy is well divided.

 

[Shrimpergonzo]

I'd imagine we now wait for Wednesday to see the outcome of WUP

I personally won't fall for any "99% done" statements

Yep - I think we'll get one statement once the future is more certain.

IF the council confirm today that the deal is done with the Rat family, then there are still points 2 (DD) and 3 (security) to clear for COSU. I think once they're satisfied with that there is the small matter of c.£500k to clear next Wednesday's WUP to sort out.

Only once all those things are sorted will the future be a bit more certain.

 

[Tommy2holes]

I'm expecting the following:

SCC and the Martins confirm a deal has been struck and that the DD can be worked quicky and is almost certain to be accepted within a very short time frame.

This gives COSU the confidence to pay/make an arrangement for the winding up petition or delay it with proper evidence of payment presented.

Season cards can be released and confidence restored that we will start the season.

My concern if the winding up petition isnt paid, is that the league may impose another 10 point deduction.

If it is paid, it is highly likely several other parties owed money will ask for payment and or issue a winding up petition.

If the financials for the housing at Fossetts are less than the martins had scoped for, they may ask for less than the 20 million previously agreed to go to the club. Could be another sticking point to overcome, possibly solved by a payment up front.

 

[Jon h]

If it is paid, it is highly likely several other parties owed money will ask for payment and or issue a winding up petition.

Surely they will pay all the creditors to stop this happening it doesn’t make sense otherwise as you they’ll be another winding up order

 

[Medway Blue]

Yep - I think we'll get one statement once the future is more certain.

IF the council confirm today that the deal is done with the Rat family, then there are still points 2 (DD) and 3 (security) to clear for COSU. I think once they're satisfied with that there is the small matter of c.£500k to clear next Wednesday's WUP to sort out.

Only once all those things are sorted will the future be a bit more certain.

Good summary.

I'm expecting the following:

SCC and the Martins confirm a deal has been struck and that the DD can be worked quicky and is almost certain to be accepted within a very short time frame.

This gives COSU the confidence to pay/make an arrangement for the winding up petition or delay it with proper evidence of payment presented.

Season cards can be released and confidence restored that we will start the season.

My concern if the winding up petition isnt paid, is that the league may impose another 10 point deduction.

If it is paid, it is highly likely several other parties owed money will ask for payment and or issue a winding up petition.

If the financials for the housing at Fossetts are less than the martins had scoped for, they may ask for less than the 20 million previously agreed to go to the club. Could be another sticking point to overcome, possibly solved by a payment up front.

Please temper expectations on DD. Let's hope it's quick, but it's not guaranteed. This is a new and differently-structured deal. Even if it does have elements of previous deals from 2020/2021, market conditions are rather different, so copying homework probably wouldn't fly in its entirety. It will need to be done properly to protect the council and public money, and it takes as long as it takes, but this Administration will at least be up front about that.

I can't see the £20m figure changing in this new deal. Maybe the structuring of its payment, but even then, can't see it changing. Whether it does actually get paid is another matter of course, but I'm sure the council will try to get that as close to watertight as they possibly can.

 

[Medway Blue]

Surely they will pay all the creditors to stop this happening it doesn’t make sense otherwise as you they’ll be another winding up order

They've committed to paying the creditors once they own the club.

 

[Jon h]

They've committed to paying the creditors once they own the club.

Only thing is there not going to own the club by next Wednesday so someone going to have to pay of the creditors unless we go for another adjournment

 

[Tommy2holes]

Only thing is there not going to own the club by next Wednesday so someone going to have to pay of the creditors unless we go for another adjournment

They haven't said that they won't pay they want security to pay.

Hopefully, this latest round of talks will provide some answer to this.

 

[Tommy2holes]

Good summary.


Please temper expectations on DD. Let's hope it's quick, but it's not guaranteed. This is a new and differently-structured deal. Even if it does have elements of previous deals from 2020/2021, market conditions are rather different, so copying homework probably wouldn't fly in its entirety. It will need to be done properly to protect the council and public money, and it takes as long as it takes, but this Administration will at least be up front about that.

I can't see the £20m figure changing in this new deal. Maybe the structuring of its payment, but even then, can't see it changing. Whether it does actually get paid is another matter of course, but I'm sure the council will try to get that as close to watertight as they possibly can.

Completely get what you are saying but I would be right in saying that those completing the failed DD would have guided the councillors on what is likely or what is needed to pass the next.

Better to have a workable template than just another random shot in the dark.

 

[Holy Joe]

Surely they will pay all the creditors to stop this happening it doesn’t make sense otherwise as you they’ll be another winding up order

Maybe, but that requires cash now, if you put it off for longer then the cash required now is lower.

Some creditors also seem patient to wait for COSU to actually own the club.

 

[Morty01]

Sorry to put a slight dampener on things, but RM will still own this football club at close of play tomorrow.

A deal has been struck between RM/Citizen/Council, but that isn’t with the consortium. This will mean the consortium are still involved, and next week should be even more positive with the WUP being cleared, embargo being lifted, season tickets on sale and potentially a new recruit through the door too.

The deal will go through DD, but according to the council it should be pretty much a formality, but still has to happen. I believe once that has all passed, and any amendments to the purchase price etc has been dealt with, we will have brand new shiny owners.

We are close, and this week has been another big step forward, but we aren’t quite there yet. It’s coming though.

98% Wallop?

 

[Westcliff DGS]

Surely the speed at which the DD can be done depends on what was being negotiated earlier in the week. Didn’t Cllr Cowan say earlier htis week that some parts were negotiable? Of it were just the same o plan as before then maybe it would be very straight forward but if some parts were negotiable / negotiated as he stated (or thats what I remember him saying on totter i think it was) then maybe will take slightly longer than what ever a very quick timeline is.

 

[Shrimpergonzo]

Surely the speed at which the DD can be done depends on what was being negotiated earlier in the week. Didn’t Cllr Cowan say earlier htis week that some parts were negotiable? Of it were just the same o plan as before then maybe it would be very straight forward but if some parts were negotiable / negotiated as he stated (or thats what I remember him saying on totter i think it was) then maybe will take slightly longer than what ever a very quick timeline is.

Hopefully @CllrDanielCowan will put out a clear statement today on both the state of the deal and the next DD steps.

His statements so far have been really clear so I have high hopes!

 

[Tangled up in Blue]

Mallorca?

Ha! I know a Cambride United fan whos going there with his Catalan partner on Sunday.