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

[TrueBlue]

Respectfully, you are mistaken. You can trust me or not, that’s up to you.

Many of you know me and have for many years, and for what’s that worth (most likely not much) when I say that Tribal Chief has the inside line it’s very much true.

He gets the 5 steak meals out of 5 approval

 

[dusterman]

Many of you know me and have for many years, and for what’s that worth (most likely not much) when I say that Tribal Chief has the inside line it’s very much true.

He gets the 5 steak meals out of 5 approval

Crate-esque?

 

[overseas shrimper]

Another blinder played by Ron. He can now attend the WUP, pleading his innocence to the judge that he has worked really hard to get a deal over the line but the mean council have back tracked on a previously agreed deal so it’s not his fault. To show what a collaborative gent he is, he has “agreed” to a revised offer from the council, that’s significantly worse in his eyes, and requests a further adjournment of 6-8 weeks to get the club sold It’s the same tactic with every hearing, always finding a way to kick the can down the road.

He hasn't 'played a blinder'. Don't give him that much credit. He chanced his luck and failed. I wouldn't even expect him to appear at the hearing. If it goes ahead as more than a formality, I'd expect JR or TL and/or other COSU members will attend.

 

[Wingnut]

He hasn't 'played a blinder'. Don't give him that much credit. He chanced his luck and failed. I wouldn't even expect him to appear at the hearing. If it goes ahead, JR or TL and/or other COSU members will attend.

I don't think the main decision makers are even in the country to be fair

 

[wakes123]

Thank you for the update which provides more clarity. However, you were in this place last night and everything changed this morning, what confidence do you have come Monday they won’t try to change agreements again ?

It’s a good question and was my first thought as well. All this is, is a verbal agreement from the biggest liar in town.

 

[overseas shrimper]

I don't think the main decision makers are even in the country to be fair

Which is why I also mentioned TL / other COSU members attending.

 

[tommy tucker]

He hasn't 'played a blinder'. Don't give him that much credit. He chanced his luck and failed. I wouldn't even expect him to appear at the hearing. If it goes ahead as more than a formality, I'd expect JR or TL and/or other COSU members will attend.

JR WONT ATTEND he is back in aussie guess Tom might on behalf of the concortium

 

[Holy Joe]

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?

.

Liquidity - to pay the WUP he needs cash. To provide security he 'just' needs an asset. Also he's deluded - he doesn't think it's his debt anymore as COSU are inheriting the debts


But I reckon you're right in that he won't provide security as He's already said he's not providing security so it will be no surprise if he doesn't. So what do COSU do in this scenario -positive noises from itk but incredibly risky to put more cash in without the security.

 

[Shrimpergonzo]

Liquidity - to pay the WUP he needs cash. To provide security he 'just' needs an asset. Also he's deluded - he doesn't think it's his debt anymore as COSU are inheriting the debts


But I reckon you're right in that he won't provide security as He's already said he's not providing security so it will be no surprise if he doesn't. So what do COSU do in this scenario -positive noises from itk but incredibly risky to put more cash in without the security.

There was, I think, some movement on the question of security earlier in the week. I don’t know any more details than that or the up to date position though.

 

[Thundersley Blue]

Having had a chance now to inwardly digest all that happened. Aggravating it may be but everything seems to be in a better position than it was this time yesterday. Ratty should now understand he can't go back to the table and ask for more, seems his bluff was called.

The Council need this to happen just as much as COSU, just the timeline now is likely to compromise the start of the season. Hope not, but a small price to pay to get this over the line.

I too would like to thank Cllr Cowan for being as open as he can be, quite refreshing and a big help to us mere mortals to understand what is going on.

 

[Target man]

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.

Will have to take you on your word Chief, though it just doesn't feel like significant forward progress. I don't personally think COSU will walk and I would expect a measured response on Monday at the earliest.

 

[RHB]

I’m not allowed to do it on council paper because of the GE.

And you don't have to @CllrDanielCowan, as political discussion on the Zone has been banned for over a year now because some couldn't play nicely. Obviously some has crept in to this thread for context, but that is the limit.

 

[Leigh_Seasider]

This is all still in the Martins’ court then. Respectfully I won’t believe that any decent outcome is possible to all this until it’s signed sealed and delivered and the keys are in COSU’s hand. As always nobody and I mean nobody can predict Ron’s next move. It’ll go to the wire as usual.

 

[bigmolt]

Blatant Electioneering from Daniel Clown. A statement from the leader of the Council should be on Council Headed Paper not Labour Party Headed Paper.
You can read this bloke from a mile off, bit more of a delay and then just before election day he will make an agreement, dressing himself up as the Saviour of Southend United.
What a complete phoney.

Absolute RUBBISH.
Daniel Cowan was one of the councillor’s in my ward. I can say he was one of the hardest working, genuine and honest councillors I have ever had in over 40 years living in Southend. He did so much around Prittlewell it was amazing to see. The last thing he is in my honest opinion is phoney.

 

[Westcliff DGS]

No, they invested in very risky property deals in a different way. This is the same model that was agreed for the new stadium and for the last deal that failed DD. It failed DD because all the risk was pushed to us to maximise developer profit. We’ve been pushing some of that back and DD should tell us if we’ve pushed enough back. Ultimately we’re in the same position which is that we won’t sign a deal that fails DD.

Thanks for your reply and clarity, i hope you can see why I asked. Do you have a guess at what the chances are of passing DD, how close is this new deal to that which was likely to pass DD as per the original deal that was likely to pass?

 

[Colblue]

In the morning after the night before, what has actually changed?
All that I can see from the outside looking in, is that Ron Martin has given his acceptance verbally to the revised terms discussed
Isn’t this exactly what he did to the supporters outside his house last weekend and in discussions with SCC up to Thursday night.
Then lo and behold come Friday morning his verbal word actually meant nothing.
I hate being cynical as I’m aware that the wrong thing said can have a very detrimental impact on already fragile minds but I personally can’t see how anything’s moved on here other than Ron manouvering himself in a position where the expectation is still on others, rather than himself, to satisfy the WUP.
If I were COSU and their threat for imminent answers was real, then my statement would be declaring nothing has been met from our three asks and no advancement made other than the latest verbal word from Ron which means absolutely nothing

 

[fbm]

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.

Ron hasn't been at the helm for over a year. He's in his cabin letting others steer the ship.

 

[Supa Shrimpa]

Ron hasn't been at the helm for over a year. He's in his cabin letting others steer the ship.

Which is a strange situation, considering he (his family's co.s) still has control of the club.

 

[SUBBlue]

In the morning after the night before, what has actually changed?
All that I can see from the outside looking in, is that Ron Martin has given his acceptance verbally to the revised terms discussed
Isn’t this exactly what he did to the supporters outside his house last weekend and in discussions with SCC up to Thursday night.
Then lo and behold come Friday morning his verbal word actually meant nothing.
I hate being cynical as I’m aware that the wrong thing said can have a very detrimental impact on already fragile minds but I personally can’t see how anything’s moved on here other than Ron manouvering himself in a position where the expectation is still on others, rather than himself, to satisfy the WUP.
If I were COSU and their threat for imminent answers was real, then my statement would be declaring nothing has been met from our three asks and no advancement made other than the latest verbal word from Ron which means absolutely nothing

We all should really know now by now where Rat Martin is concerned the truth is a fluid thing- unstable & subject to change as it suits him or his agenda.

As the saying goes:
“Liar, liar, pants on fire..”

 

[Colblue]

We all should really now by now where Rat Martins is concerned the truth is a fluid thing- unstable & subject to change as it suits him or his agenda.

As the saying goes:
“Liar, liar, pants on fire..”
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And this is my worry, COSU will see that only thing that’s changed is the latest verbal agreement to the latest negotiated terms. There is no signature on any legal document holding him to anything so I literally do not see a real world development here from last weekend when the deadlines were put to him.
Next week could see a COSU outlay of 500k WUP and maybe 200k in salaries, have they got any more confidence in this buy out from yesterdays outcome for them to risk this kind of expenditure.

Let’s not forget also, fans are fans right, if the wUP gets paid then there is an expectation to start squad building which of course is more £££, though granted if ST’s go on sale that would help that.
Biggest fear is other creditors raising WUP’s while they see COSU in a vulnerable position of having spent so much already to be reluctant to walk away.

Jeez who would own a football club, not me that’s for sure