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

[bazzashrimper]

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.

But this deal is similar to the one agreed in 2021. It would have been reasonable that the £20m is based on the shape of something previously agreed rather than something that the martins decided on in MARCH which was then unworkable.

 

[sufc4life21]

More chance of Southend signing haaland than 20 million going into roots hall. Think the consortium need a re think where they aim to source there funding for roots hall. It ain't coming from the rats that for sure.

 

[Blue Yonder]

The 20 mill is because he saves money due to not having the cost of building a stadium ? Or is it a share of profit from the development ? As I understood it he retained the freehold of a stadium at FF and could charge rent whereas he is passing the freehold of RH to COSU. The calculation of value is complex.

 

[Hooly]

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.

As you say "in the normal world" an appeal would put a stay on any enforcement actions, but we are dealing with The National League about who the word normal is basically abnormal.

The good news however is probably that the right of appeal is to The Football Association who normally move with the speed of a dead dinosaur.

 

[Tommy2holes]

The 20 mill is because he saves money due to not having the cost of building a stadium ? Or is it a share of profit from the development ? As I understood it he retained the freehold of a stadium at FF and could charge rent whereas he is passing the freehold of RH to COSU. The calculation of value is complex.

That makes sense but nobody knows the full details of the deal. JB and JR being here is a big deal.

They want it done asap

 

[THE SEVENTIES NORTH BANK]

In an ideal World, in the room would be Ron and Jack, the Council, some of the Consortium, and a lie detector operator with a lie detector.

 

[Fred]

I’m hoping with JR and JB’s arrival that final ultimatums are being made to force an imminent resolution to this very long and stressful takeover. I’m really hoping for a positive outcome but whichever way it goes we need the Football Governance Bill on the Stautute books to prevent this happening again. My admiration for the Consortium and despise of the Martins could not be wider apart.

 

[Hooly]

In an ideal World, in the room would be Ron and Jack, the Council, some of the Consortium, and an electric chair operator with one each for the Martins.

Edited for my preference

 

[Hampshire Shrimp]

What are we appealing for?

The bond shall remain in place until the sooner of (i) an ownership agreement with the consortium currently in talks with the Club being successfully concluded, to the satisfaction of the National League and the FA; or (ii) the Club demonstrating, to the satisfaction of the National League, that is has sufficient financial resources within its own means to meet its financial obligations for the forthcoming Season.

The NL have set out what needs to be done, I feel that it gives the more time to dither and stall to try and complete the sale of the club all the time he is not paying a penny!?

If we fail to satisfy any of the above;

In the event that the Club fails to post the Bond in accordance with the requirements that have been communicated to the Club, the National League Board will meet again to consider further sanctions against the Club.

I know it may bide some time for COSU to negotiate, but without a deadline the will take all the time in the world to amble along and frustrate us all.

I would like for SCC / Clr Cowan to apply some pressure with a hard backstop that if the complete deal isn`t negotiated by a certain date then it is off, no planning, no houses. That`s the only language he understands.

 

[THE SEVENTIES NORTH BANK]

Edited for my preference

Im loving it. The Martin's could sit in the electric chair hooked to the lie detector. Every time they tell a lie, they get an electric shock.

 

[Hampshire Shrimp]

Im loving it. The Martin's could sit in the electric chair hooked to the lie detector. Every time they tell a lie, they get an electric shock.

Could put the whole of Essex in darkness

Could the National Grid cope with that amount of electricity being used?

 

[Maidstone Shrimper]

Im loving it. The Martin's could sit in the electric chair hooked to the lie detector. Every time they tell a lie, they get an electric shock.

The national grid wouldn't take the strain

 

[JB Shrimper]

Possibly a foolish move was the consortium stating the £20m wasn't a deal breaker so publically, that would have been music to Ron's ears!

 

[stortford]

As you say "in the normal world" an appeal would put a stay on any enforcement actions, but we are dealing with The National League about who the word normal is basically abnormal.

The good news however is probably that the right of appeal is to The Football Association who normally move with the speed of a dead dinosaur.

Not so. There are areas of taxation for example where a postponement application is separate to an appeal against the decision creating the tax liability, and some where the right of appeal doesn't have a deferment of implementing the decision option.

 

[dannypav]

More chance of Southend signing haaland than 20 million going into roots hall. Think the consortium need a re think where they aim to source there funding for roots hall. It ain't coming from the rats that for sure.

I really don't see where Haaland fits in with Waldron and Cardwell ?
Decent back up from the bench I guess ....

 

[Hooly]

Not so. There are areas of taxation for example where a postponement application is separate to an appeal against the decision creating the tax liability, and some where the right of appeal doesn't have a deferment of implementing the decision option.

I rest my case. I'm a beancounter so taxation is not normal as 2 + 2 never equals 4, well unless I want it to.

 

[londonblue]

In an ideal World, in the room would be Ron and Jack, the Council, some of the Consortium, and a lie detector operator with a lie detector.

If the rats are involved it would be more efficient to have a truth detector.

 

[sufc4life21]

I really don't see where Haaland fits in with Waldron and Cardwell ?
Decent back up from the bench I guess ....

Some bench warmer to have I guess.

 

[Booma]

In an ideal World, in the room would be Ron and Jack, the Council, some of the Consortium, and a lie detector operator with a lie detector.

In an ideal world in the room would be Ron, Jack, and a hungry pack of wolves

 

[Booma]

I really don't see where Haaland fits in with Waldron and Cardwell ?
Decent back up from the bench I guess ....

Problem with Haaland, he’s a league two player (according to Roy Keane)