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

[Colblue]

Are these DD’s really being paid for by Ron Martin? If so, hopefully up front as they won’t come cheap!! Would hate to see problems down the line with information withheld as he hasn’t paid

 

[rayleigh dan]

I think he has been clear this financial DD is one of the DD strands and not the external audit which is separate and will only follow completion of the DD steps.

This unfortunately. There’s a reply on Twitter from Cowan to Shrimpers Talk confirming this. I tried to post a link but my lack of IT skills are letting me down! Maybe someone else can do so.

 

[JD]

 

[rayleigh dan]

View attachment 32140

Not done yet then, as I suspected unfortunately. I don’t like that caveat that if something needs to change then the change needs DD too… Why do I feel this in inevitable

 

[dusterman]

Be more worrying if DD meant a direct debit from Ronald, then we’d be truly ****ed.

 

[Shrimpergonzo]

I dont think this confirms anything as "initial finanical DD" is then replied to with "initial DD"

Very little point in claiming to act in a transparent way if all that happens when he talks is create more confusion

 

[crangoner]

Cowan made that claim.

Words matter. Unless quoting verbatim or an unambiguous turn of phrase, then it's misquoting. Beyond me what's to be gained from smearing the leader of the council who's been more forthcoming about any of the intricacies of the deal than Cox or Firth ever have been or were.

 

[tommy tucker]

Beware of a council member tell everyone what is happening Rember a chairman who told everyone what's going to happen and it never did Let's hope councilor Dent is doing his best to save the club Let's hope he gets it done and the club can move forward.

 

[rayleigh dan]

Words matter. Unless quoting verbatim or an unambiguous turn of phrase, then it's misquoting. Beyond me what's to be gained from smearing the leader of the council who's been more forthcoming about any of the intricacies of the deal than Cox or Firth ever have been or were.

Agreed re the original poster, we got zero updates from Cox whilst he was in charge, at least we’re getting some now. I feel you’re a little harsh on Firth, she was very vocal before Justin and co arrived on the scene. Having said that, she’s been very quiet recently, even a statement putting pressure on the Martin’s would be welcome.

 

[fbm]

So this is where |I think we currently are...

1) All parties - at least on paper - say they are committed to the deal going through.

2) Work in and around the club, as far as I am aware, is progressing as if there is nothing wrong and we are getting ready for the new season.

3) All members remain in the consortium; no-one has yet jumped ship.

4) However, there are official reports that COSU won't wait for ever and, although there is no outwardly visible sign of them backing out, I think there are insider views that maybe they won't wait very much longer at all. I think @Tribal Chief said a couple of weeks and he seems to be in touch with at least one COSU member.

5) We are in an adjourned period for the next hearing regarding the WUP. Apparently this is a final hearing. If significant progress has been made since last time and the creditors agree then it won't be final; it's in no-one's interest to wind the club up if there is progress being made and everyone will ultimately get their money. If however no significant progress has been made then, that could well be it.

6) One way around 5) is to persuade Stewarts to withdraw it. However, if another creditor takes carriage of it then that will be a waste of time.

7) Another way around is for Ron to pay. HA! He won't. It's not that he can't; he just won't.

8) The season ticket details can't yet be released as the money will go to a club still owned by Ron and he can do what he likes with it. I'm not sure that, at this stage, there's anything anyone can do about that.

9) COSU could pay it but won't (and rightly, certainly on the face of it) as it relates to historic debt. However, they are also £3.5m deep in, apparently.

10) We have the NL meeting coming up when they can decide whether we can start the season at all or have a points deduction.

The first 3 points are quite positive and then it all looks a bit difficult. However, I'm encouraged (at the moment) by those first 3... however, the minute COSU say "We'll wait for the outcome of the meeting/hearing before doing any more", or if one or two pull out, I think that will be it.

 

[Liam AAS]

That claim wasn't made, and let's not have a semantic argument.

Words matter. Unless quoting verbatim or an unambiguous turn of phrase, then it's misquoting. Beyond me what's to be gained from smearing the leader of the council who's been more forthcoming about any of the intricacies of the deal than Cox or Firth ever have been or were.

lol

https://twitter.com/x/status/1794092743142080550

 

[tommy tucker]

Agreed re the original poster, we got zero updates from Cox whilst he was in charge, at least we’re getting some now. I feel you’re a little harsh on Firth, she was very vocal before Justin and co arrived on the scene. Having said that, she’s been very quiet recently, even a statement putting pressure on the Martin’s would be welcome.

I guess anna firth is a little busy right now with the general elections just around the corner .If i lived in her catchment area she could count on my vote but sadly i dont .

 

[The Original Tribal Chief]

So this is where |I think we currently are...

1) All parties - at least on paper - say they are committed to the deal going through.

2) Work in and around the club, as far as I am aware, is progressing as if there is nothing wrong and we are getting ready for the new season.

3) All members remain in the consortium; no-one has yet jumped ship.

4) However, there are official reports that COSU won't wait for ever and, although there is no outwardly visible sign of them backing out, I think there are insider views that maybe they won't wait very much longer at all. I think @Tribal Chief said a couple of weeks and he seems to be in touch with at least one COSU member.

5) We are in an adjourned period for the next hearing regarding the WUP. Apparently this is a final hearing. If significant progress has been made since last time and the creditors agree then it won't be final; it's in no-one's interest to wind the club up if there is progress being made and everyone will ultimately get their money. If however no significant progress has been made then, that could well be it.

6) One way around 5) is to persuade Stewarts to withdraw it. However, if another creditor takes carriage of it then that will be a waste of time.

7) Another way around is for Ron to pay. HA! He won't. It's not that he can't; he just won't.

8) The season ticket details can't yet be released as the money will go to a club still owned by Ron and he can do what he likes with it. I'm not sure that, at this stage, there's anything anyone can do about that.

9) COSU could pay it but won't (and rightly, certainly on the face of it) as it relates to historic debt. However, they are also £3.5m deep in, apparently.

10) We have the NL meeting coming up when they can decide whether we can start the season at all or have a points deduction.

The first 3 points are quite positive and then it all looks a bit difficult. However, I'm encouraged (at the moment) by those first 3... however, the minute COSU say "We'll wait for the outcome of the meeting/hearing before doing any more", or if one or two pull out, I think that will be it.

I think you’ve summed it up pretty well. Some significant progress is required to prop up the wavering COSU members.

 

[Jim Levenstein]

Really does feel like council have been doing **** all until now

 

[tommy tucker]

Beware of a council member tell everyone what is happening Rember a chairman who told everyone what's going to happen and it never did Let's hope councilor Dent is doing his best to save the club Let's hope he gets it done and the club can move forward.

Its councilor Cowan not what i previously said Either way i hope he has Southend united a heart .

 

[rayleigh dan]

lol

I think you’re being a little unfair, Cowan clarified your original quoted point when questioned further. I agree with @crangoner that Cowan’s been far more transparent than Cox ever was. Yes we can nitpick, but he seems more amenable when answering our questions.

 

[Liam AAS]

I think you’re being a little unfair, Cowan clarified your original quoted point when questioned further. I agree with @crangoner that Cowan’s been far more transparent than Cox ever was. Yes we can nitpick, but he seems more amenable when answering our questions.

I never said he wasn't amenable, I said he wasn't clear. If he was only able to be clear on further questioning then that proves my point. I'm happy he has done so.

 

[rayleigh dan]

I never said he wasn't amenable, I said he wasn't clear. If he was only able to be clear on further questioning then that proves my point. I'm happy he has done so.

Fair. Politicians are programmed to give vague or no answers. At least he seems to be trying IMO to keep us updated.

 

[bazzashrimper]

I think you’ve summed it up pretty well. Some significant progress is required to prop up the wavering COSU members.

It does feel like it’s moving a bit now though and perhaps wasn’t a week or so ago. Hopefully it’s enough

 

[Mark Corrigan]

It does feel like it’s moving a bit now though and perhaps wasn’t a week or so ago. Hopefully it’s enough

I'm not so sure it is, it just seems we are slightly more informed than we were a week ago.