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

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He's a good talker and have every confidence in him........but the rat and a stalling Council is still around and unfortunately Justin hinted that he's got his limits with there patience!
 
Brief Summary. For those of you still hoping the embargo is down to accounts/conf statements not being submitted. It isn't. It is the WUP that has triggered it.

Justin: COSU will not be paying the petition debt until the sale is completed. Urging SCC to complete DD. "This week would be nice!"

Justin: Was "surprised" "unexpected" the embargo was activated. They assumed it might have arrived in Feb when the WUP went live. So surprised the NL have activated it now, but understand it is in the rules. They don't have any complaints about it, just surprised at the timing.

Justin: "Nobody has any intention to let this play out for 6 weeks, when we clearly need to be active in the transfer market"

Justin: "Those words are banned was 6-8 weeks back in January"

Justin: "It needs to come to a head in the next couple of weeks" "Hoping for clarity in a couple of weeks" referring to DD hopefully being completed and then outcomes from audit.

Tom: Targets have been identified and working hard to get embargo removed and players in asap. Now is a "good time" to have an embargo if you are going to have one.

Tom/Justin: "Kev not delighted" about the embargo. But he is up to speed on how it will be resolved.

Justin: "RH prep work (pitch) starting today"

Tom: "Works started on RH safety cert". Training ground works done, think that refers to the pitch rather than anything else though.

Tom: Working through new business plan. Budgets have been set etc.

Justin: "We would not walk away from this deal lightly, but everyone has their limits" Again urging SCC to complete DD.


Fair play to Tom and Justin. Both come across well and answered things as best as they could, without ****ing anyone off. An honest summary of where we are. Bottom line, it is SCC (and their consultants) that are the gatekeepers of this deal being completed and then Embargo removed. So if any lobbying needs to be done, it is on them. In my opinion.
 
In the end he is a project management professional so he will look at this, the missed deadlines, lack of clarity, communication and question if anyone competent is project managing this, the tasks, the people involved to a deadline and holding feet to the fire. Certainly I am wondering who is in overall charge of managing this process?

Hopefully the new council leader will get a grip quick on this, get the real status, who is holding it up and inject some urgency. The answer might be don't worry everything is on track to complete by month end regarding DD- he would be very very wise to take that with a pinch of salt and test that very thoroughly indeed...
 
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Thank you justin and tom for being honest and up frount with the fans .They said it as it is which is refreshing .Rather than the bull Ron Martin has said so many times .It is dark times for our club .But with a glimer of hope .
 
I'm also worried if the "clarity" of DD is not resolved ahead of the NL AGM, the club wouldn't have been able to sort the WUP and embargo, what other action the NL might take.
 
ace said:
I'm also worried if the "clarity" of DD is not resolved ahead of the NL AGM, the club wouldn't have been able to sort the WUP and embargo, what other action the NL might take.
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Yep. This is a real concern IMO and the NL will be getting itchy trigger fingers on 8th June. The way Justin was talking though, he seemed to have "hope" that things would be "clearer in a couple of weeks"... so let's see where we are at the start of June.
 
Shrimper said:
So reading that there's a real risk of them walking away if not completed by June xx (WUP Date)
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It's clear they are committed (£3.5m proves that) but yes if the sale is not done by end of June, I think we are in all sorts of bother, for a number of reasons. From not getting a license to participate in the NL, to being wound up and everything in between.

It feels like June is the month where it all finally comes to a head. Good or bad...and you know what, I am ready for it. I'm done with it all now. Put us out of our misery either way and lets move on.
 
Shrimper said:
So reading that there's a real risk of them walking away if not completed by June xx (WUP Date)
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Sure is...then we will be knackered....time to protest and lobby the ones that are holding it up, the Council.
Move on from the rodent, these are the people that are dragging there heals.
 
Smiffy said:
Brief Summary. For those of you still hoping the embargo is down to accounts/conf statements not being submitted. It isn't. It is the WUP that has triggered it.

Justin: COSU will not be paying the petition debt until the sale is completed. Urging SCC to complete DD. "This week would be nice!"

Justin: Was "surprised" the embargo was activated. They assumed it might have arrived in Feb when the WUP went live. So surprised the NL have activated it now, but understand it is in the rules. They don't have any complaints about it, just surprised at the timing.

Justin: "Those words are banned was 6-8 weeks back in January"

Justin: "Hoping for clarity in a couple of weeks" referring to DD hopefully being completed and then outcomes from audit.

Tom: Targets have been identified and working hard to get embargo removed and players in asap. Now is a "good time" to have an embargo if you are going to have one.

Tom/Justin: "Kev not best pleased" about the embargo. But he is up to speed on how it will be resolved.

Justin: "RH prep work (pitch) starting today"

Tom: "Works started on RH safety cert"

Tom: Working through new business plan. Budgets have been set etc.

Justin: "We would not walk away from this deal lightly, but everyone has their limits" DD needs to be completed asap.


Fair play to Tom and Justin. Both come across well and answered things as best as they could, without ****ing anyone off. An honest summary of where we are. Bottom line, it is SCC (and their consultants) that are the gatekeepers of this deal being completed and then Embargo removed. So if any lobbying needs to be done, it is on them. In my opinion.
Click to expand...
Good stuff @Smiffy. With a bit of tweaking I have just sent this to my 3 local Councillors as a follow up to my original email.
 
Grayson said:
It is blatantly obvious what is happening there. That would have been a waste of a question giving the importance of what else is going on.
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I am not so sure,
If the worry is that Ron will snaffle the monies then I don’t fully buy in to that.
Banking arrangements, and specifically control over payments can be as simple or as complicated as you like. Bank systems allow for a hierarchy of authorisation to allow payments to be made.
I would be surprised if the consortium are chucking monies in to a bank account that they have zero control over.
 
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