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

[Medway Blue]

Just a question to those more ITK or swept up on these matters;

If the 20m was agreed by SCC and the on xxx amount of houses, which has been re-negotiated down due to failing DD to xxx houses. They should be able to work out the difference between these two numbers and convert this to a % and come up with a new figure to use for RH refurb?

I gather this would be paid once planning, build of houses has commenced?

I know this is logical thinking and working with the is difficult, but Clr Cowan seems to have the strangle hold over the , and can hopefully dictate to him about the implications of continuing to mess about and be sensible about the whole deal and bigger picture for them and us going forward.

Up The Blues

You'd think so. Whether Ratty can bring himself to look at it in % terms rather than a straight "how many £s profit am I walking away with?" remains to be seen. The difference between the % of developer profit that that the Roots Hall kickback represents when moving from the originally-agreed £20m, to what Ratty has offered late in the day, is not insignificant.

 

[Holy Joe]

I thought it was based on how much money he was 'saving' by not having to build a new stadium. That hasn't changed - infact with inflation it's probably gone up - consortium should push for more than £20m !?!?

 

[Westcliff DGS]

I still believe the main issue isn't the de-coupling but the fact that the change in approach just gives Ron an excuse to revisit what he has already agreed with COSU (aka goalpost moving). And so it seems. And as with all negotiations with Ron they must run till the last possible moment. And so it seems.

I am optimistic based on a combination of believing Ron needs this to happen, and the fact that the ITKs seem to believe it will as well.

Of course we are talking about Ron. So no-one can be sure. A bottle of Laphroaig sits neglected in the kitchen...

I agree, but the room it givess is due to the decoupling, hence he will try to wiggle a better deal for himself as always. The council should set a deadline for this new deal to be agreed by saying if you haven’t by x date we walk away from the property deal, so far they have only stated if COSU walk away they will.

The council need the houses, am sure they will get reassure from which ever government to get new houses, so to a degree they are in an awkward position.

 

[Tommy2holes]

It's quite simple. If Ron and citizens total profit margin has reduced then it stands to reason that they will try and reduce the 20 million accordingly.

I can only see Jason Brown and Justin Rees flying in to finalise the deal as a good thing. All due respect to all of the consortium but these two are likely to be the big hitters in terms of finance.

 

[Mark Corrigan]

They have flown in from the other side of the world for tinnys in the car park. Pretty obvious really.

 

[bazzashrimper]

You'd think so. Whether Ratty can bring himself to look at it in % terms rather than a straight "how many £s profit am I walking away with?" remains to be seen. The difference between the % of developer profit that that the Roots Hall kickback represents when moving from the originally-agreed £20m, to what Ratty has offered late in the day, is not insignificant.

And if he had to build a stadium to get his houses, the stadium price doesn’t go down. ****

 

[annie1954]

Just a normal Monday morning on shrimperzone as we roll into another week waiting for takeover news and Ron to give the keys over

 

[Snowy]

We all hope to see the light at the end of the tunnel, but it turns out to be a train heading straight at you, full speed with Ratty at the controls.

 

[tallboyblue]

Just a normal Monday morning on shrimperzone as we roll into another week waiting for takeover news and Ron to give the keys over

Nothing is normal on here.

 

[THE SEVENTIES NORTH BANK]

Never was

You and ForeverBlue have been saying for months that this deal will never happen. ForeverBlue even has inside information that Ron is never selling to the Consortium. So this will be very interesting this week.

 

[dusterman]

You and ForeverBlue have been saying for months that this deal will never happen. ForeverBlue even has inside information that Ron is never selling to the Consortium. So this will be very interesting this week.

Mmm… someone’s going to be right. Poll?

 

[Shrimper]

If they're all meeting today can we just lock them in a room and get this ****ing thing done

 

[Evening Echo]

IT'S a crunch day for the future of Southend United. Follow all the action live here.

Read more on this story


Help with Echo links

 

[THE SEVENTIES NORTH BANK]

The 20M is now one of the big stumbling blocks apparently. It was in writing, agreed and approved, so I don't see how Ron, Jack or COSU can change that. I suspect it's Ron again in my own opinion, and others, Lol, trying to lessen the 20M, or trying to move the goalposts once again, sigh.

 

[BoyWonder2]

TL has appealed to the NL re their ruling on the bond, so I expect that this gives us a few more days, so maybe today isn’t the day things get resolved.

 

[dusterman]

The 20M is now one of the big stumbling blocks apparently. It was in writing, agreed and approved, so I don't see how Ron, Jack or COSU can change that. I suspect it's Ron again in my own opinion, and others, Lol, trying to lessen the 20M, or trying to move the goalposts once again, sigh.

Could it not change HOT of council deal too if that bit is changed potentially?

 

[JD]

The 20M is now one of the big stumbling blocks apparently. It was in writing, agreed and approved, so I don't see how Ron, Jack or COSU can change that. I suspect it's Ron again in my own opinion, and others, Lol, trying to lessen the 20M, or trying to move the goalposts once again, sigh.

No one should be surprised - the proposed deal from the council which has replaced the deal, which failed DD, will reduce the profits made by Ron/Citizen.
I am not excusing Ron/Jack at all, as they have been abhorrent throughout, but this was always going to be renegotiated if these circumstances arose.

 

[JD]

TL has appealed to the NL re their ruling on the bond, so I expect that this gives us a few more days, so maybe today isn’t the day things get resolved.

More time to wait hence my sad face - but if it helps then appealing is the way.

 

[Shrimper]

TL has appealed to the NL re their ruling on the bond, so I expect that this gives us a few more days, so maybe today isn’t the day things get resolved.

This is never going to end, is it? Whenever we get told it's a big day it just gets delayed to another day later on. Just beyond frustrating

 

[Hooly]

The 20M is now one of the big stumbling blocks apparently. It was in writing, agreed and approved, so I don't see how Ron, Jack or COSU can change that. I suspect it's Ron again in my own opinion, and others, Lol, trying to lessen the 20M, or trying to move the goalposts once again, sigh.

At the Cliffs "Meet the Consortium" event I remember Justin being asked about the $20m & his words were along the lines of they'd tied it down as much as they could legally but if there was a problem it would be on the Consortium & they had a plan to deal with it. I'm at work otherwise I'd try to play it back.

No doubt Rat Family are squealing that if their property deal has changed then the $20m does to, but I don't believe this is anything the Consortium weren't planning for. Hence Jason's arrival as I suspect he holds the larger purse strings.