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

[The Original Tribal Chief]

I've literally no idea were we are now apart from a few steps backwards that's delaying the inevitable

This represents significant forward progress. Just not as much as we had hoped. Talking to @Medway Blue we are both feeling fairly confident and we were miles apart just a few days ago. If you don’t believe me, you should believe him. We have different contacts in different areas and we are hearing much the same thing from all parties.

 

[kentblues]

Ultimately though, it matters not what we the fans think. We are mere collateral damage for the Martins. It’s now down to COSU, are they comfortable to continue throwing money at the club off the back of the “update” this evening?

We need to now hear from them asap on their position and plans (if any) on how next weeks “final” showdown in court will go.

I think sometimes we take our eyes of the ball don’t we. Whether SCC get 80%, 100% or 50% of what they wanted is not really the point. What we need is a deal and it appears that is there. The only point of concern would be if 80% rather than100% made it a little less likely it passes DD.

Anyway re COSU point 1 is it seems there
Point 2 is commitment on DD timeframes (I can’t believe given the effort some satisfactory won’t be forthcoming there).
So the bit that has been largely forgotten is point 3 around security allowing COSU to settle the WUP. I think this is actually the most worrying point outstanding in a way.

Understandably the dislike for the Martins is almost meaning that the fact they have only had to go 80% of the way is overshadowing the fundamental point which is that a deal is agreed…

My take anyway

 

[Realist]

SOUTHEND United fans have been having their say following another day of fearing for the club's future.

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[Uncle_Rons_Teapot]

This represents significant forward progress. Just not as much as we had hoped. Talking to @Medway Blue we are both feeling fairly confident and we were miles apart just a few days ago. If you don’t believe me, you should believe him. We have different contacts in different areas and we are hearing much the same thing from all parties.

Thank you

 

[AndyH]

This represents significant forward progress. Just not as much as we had hoped. Talking to @Medway Blue we are both feeling fairly confident and we were miles apart just a few days ago. If you don’t believe me, you should believe him. We have different contacts in different areas and we are hearing much the same thing from all parties.

Reassuring as can be without a COSU statement, and after reading another 15 pages, it’s good night feeling a little bit better, thanks.

 

[GBJ]

Agreed. A show of strength and unity in Benfleet is required.

If any protest is needed, Benfleet Road is not the ideal or most profitable locale.

Camden is the place to be. An abundance of leverage there.

 

[Jai]

It blows my mind how many people are working so hard to save our club. It's extremely refreshing to get the explanations from Cllr Cowan on the process and how things sit. Not only that, but I know of a few people on the fans side who have spent all week on the phone, and the best part of two years dedicating themselves to this struggle. They all have day jobs, but I hope they have patient employers. I hope the majority of this work will never be needed. But trust me, there are a lot of people working extremely hard to save Southend United.

And then, on the other side, you have a family who have spent 25 years using that goodwill as leverage to borrow millions of pounds and never pay it back, treat people appallingly and live a lifestyle they do not deserve. They know that nobody wants the club to die, and they have used that knowledge to its full. I'd say leeches, rather than rats, is the correct term.

Ron Martin is not going to live forever and I am looking forward to dancing at his funeral.

 

[Tommy2holes]

Any idea of Cosu will be making a statement.

 

[Jai]

Any idea of Cosu will be making a statement.

The time difference and the time of the week mean it's unlikely this weekend I would guess.

 

[The Original Tribal Chief]

The time difference and the time of the week mean it's unlikely this weekend I would guess.

Yeah Monday would be my best guess.

 

[brigadista]

Be surprised if that’s enough for COSU to settle the winding up petition. No certainty provided, I certainly wouldn’t want to take the risk in their position.

**** the Martin’s, I hope they rot in hell for what they’ve done to our club

If COSU stick, and once they reneged on their deadline of last Friday it was pretty obvious they will, they’ll now most probably tap the fans for season tickets in order to pay the WUP. They’ll likely put some Dan Cowan-esque spin on it to be able to claim “what not me sir?” to get out of jail, but ultimately it will be expecting fans to bail Ronnie out this time because they don’t have the security they wanted.

I hope I’m wrong, but at this stage it seems inevitable and as many have said, any paying of the WUP at this point is nothing more than prolonging the pain and strengthening Rat co’s hand.

 

[Ramesses III]

It’s definitely a sign

Maybe

 

[* ORM *]

What surprises me most is that some people seemed to think the council was immovable. Negotiations are about getting over the line (or not).

I would humbly suggest that the council has played an absolute blinder for the last few weeks. As usual that Rat was fairly immovable but until the gun pointed at his head was loaded he held at least a couple of the aces.

Whether that’s good enough for COSU remains to be seen but we are in a much better spot than we were before I went to sleep in your afternoon.

 

[brigadista]

Please don't speak for me.

I'd buy several right now if It meant I'd get to watch my team next season.

Sadly, you’d be watching them with Ron at the helm, likely under another embargo as the other creditors come circling straight after the current WUP is paid. It would be in a never ending doom loop of the current cycle lurching from negotiations that are definitely red line deadlines to the next update, unpaid liabilities and continued threats from the league.

Buying a season ticket would unfortunately be jumping into the same boat as the other parties which are thoroughly having their pants pulled down right now.

 

[* ORM *]

Another plus is that the pressure is off for KM and the team. Apart from NL survival next season we should have no expectations irrespective of what the squad achieved last season.

 

[londonblue]

Wow, what a day.

@Awooga, if I'd got home earlier, I would have been with you. Maybe next time and thanks for the offer.

@CllrDanielCowan Thanks for your efforts today, I would imagine it was draining.

To those who think the Martin dynasty will lose everything... I doubt it. Their companies still own FF and RH. They probably don't have any personal guarantees. Owning limited companies means that any liability is limited to the company assets. It doesn't come back on the owners. As has previously been stated, Ron has nothing anymore. None of this is illegal, by the way. It's how everything works. People might bleat about the immorality of it, but if it were different no-one would ever start anything because of the risk.

So whilst the land value of RH is leveraged to it's value - that means no commercial lender will lend against it - the land with development potential is worth probably 10 times that. If it all goes wrong, Ron can just sell to developers and walk off into the sunset. The council can hold things up a bit (presumably until the next council elections when the council may change) but if there is no club to enforce the covenant, then they would I'm sure not allow RH to fall into disrepair and become a huge eyesore on the main route into the city. Plus they won't be dealing with RM any more. The whole picture changes.

The one thing that there has been little focus on is who is going to pay the WUP? Nothing else is really of relevance. If COSU pay it, then the club continues and we escape the embargo and a potential points deduction. If they walk away, we are gone. Finished. That's it. So when many say that COSU should walk away, that does mean the club dies. Everyone needs to know that. I get the weariness of it because of everything that's gone on, but there isn't even the barbed benefit of taking the Martin's down with us.

Ron will not - in my opinion - be offering any extra security because if he was prepared to do that, why not just pay off the WUP?

And let's just say they stick to the deal agreed today, COSU pay off everything and we crack on, what's to stop Ron and Jack saying on Thursday "Oh we'd just like to amend the planning application a bit." They can't stop them doing that and while it can be refused, it just delays matters.

The Martin family know that the club is massive and thousands of people will do anything to keep it alive. They have a huge safety net by owning the land assets and nothing to lose really.

In short, it's ****ing depressing.

I know, but I stick by that.

I've come to conclusion that, should it come to it, the demise of the club is a price worth paying to be rat free.

That will be me done, but there's enough people happy to get a phoenix club off the ground for it to become a reality.

Frankly I'm past caring.

 

[brigadista]

What’s really getting me is the is in his lair absolutely ****ing himself.
He knows that he is in control of this sad episode in the clubs history.
If COSO allows the to pull this stunt off, it’s just never going to end.
The club and supporters torment will continue, this will just go on and on. It’s all a game to him to keep screwing the consortium to keep his club going.
The man’s a parasite on the back of good honourable people . I hope the trust will release details of a plan to make the families life unbearable, even Mrs is fair game.

The trust will write some letters with hurty words, release a statement expressing disappointment, then all look down at the floor muttering before some bright spark suggests fans tweet a hashtag to really shame him for a day.

It won’t be unbearable for the Martin family, but it will for us all to watch yet again.

 

[londonblue]

The trust will write some letters with hurty words, release a statement expressing disappointment, then all look down at the floor muttering before some bright spark suggests fans tweet a hashtag to really shame him for a day.

It won’t be unbearable for the Martin family, but it will for us all to watch yet again.

Whilst others will turn up at the rat's house, shout hurty words, be told a pack of lies and eventually go home. That also won't be unbearable for the rat family.

All the while the people that wrote the hurty words will carry on working behind the scenes.

 

[brigadista]

Whilst others will turn up at the rat's house, shout hurty words, be told a pack of lies and eventually go home. That also won't be unbearable for the rat family.

All the while the people that wrote the hurty words will carry on working behind the scenes.

Setting aside you whataboutery for the moment…

What would you consider unbearable for the family if one or neither approach thus far has or could be unbearable?

Are you seriously suggesting the Trust would be capable of inflicting whatever it is you suggest?

 

[londonblue]

Setting aside you whataboutery for the moment…

What would you consider unbearable for the family if one or neither approach thus far has or could be unbearable?

Are you seriously suggesting the Trust would be capable of inflicting whatever it is you suggest?

No. I'm saying neither approach will make the slightest difference to a narcissist. We've all seen the rat try to talk down a crowd. He's done it at away matches, he's done it outside his house. He's actually arrogant enough to think he can talk everyone round, which is quite easy to do when you tell a pack of lies.

IMO the best thing to do is ignore him, and work behind the scenes on a number of fronts, which, it seems to me, is what the Trust are doing. I'm not a member, but that's the impression I get.

Now let me ask you a similar question. Are you seriously suggesting that a gathering outside the rat's house is capable of inflicting anything on a narcissist that relishes the confrontation?