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

[Barry.C]

Hope all involved might consider the benefits or otherwise of Amphetamine

 

[Yorkshire Blue]

So 'deadline" for DD was/is tomorrow and complete radio silence from all sides, SCC, Club, Fans Groups/ST, ITKs- not a peep...Good sign?

What deadline was this?

The Financial DD reported 24th May which highlighted several issues. Those issues need to be resolved. Once they’ve been resolved (“each stage must be completed before the next can be concluded”) it goes to external audit, which is expected to take two weeks.

 

[bazzashrimper]

So 'deadline" for DD was/is tomorrow and complete radio silence from all sides, SCC, Club, Fans Groups/ST, ITKs- not a peep...Good sign?

I was thinking similar, not because of a deadline but rather quiet from different groups - incl the protest groups. Maybe I’m just clinging on to anything that has a smidgin of positivity.

 

[Dave Smiths Love Child]

It’s just gone a bit tumbleweed-eh DSLC. Fireworks last week, nowt this week. I don’t like the silence, plays havoc with m‘tinnitus.

Not really, I cut half what is written on SZ, half it again and still no where the truth.
Too many put two plus two and make five and that fuels more stories so off the mark it’s cause panic
What will be will be, we cannot hurry DD similar we have to hope the consortium will wait but they are not an endless pot, similar Ronnie cannot sell cheap and therefore still holds the aces
I don’t read too much into posters, those ITK will keep quiet as their sources will stop passing on info unless they really want it out in the public through them

 

[dusterman]

Not really, I cut half what is written on SZ, half it again and still no where the truth.
Too many put two plus two and make five and that fuels more stories so off the mark it’s cause panic
What will be will be, we cannot hurry DD similar we have to hope the consortium will wait but they are not an endless pot, similar Ronnie cannot sell cheap and therefore still holds the aces
I don’t read too much into posters, those ITK will keep quiet as their sources will stop passing on info unless they really want it out in the public through them

You hold a strong constitution, sir. I, for one, salute you.

 

[Jack_23]

 

[Jon h]

I don’t get it where’s this deadline come from and what’s it for but let’s hope the update is good news

 

[SHRIMPERPETER]

I don’t get it where’s this deadline come from and what’s it for but let’s hope the update is good news

I think he means the Echo's deadline to get it printed for tomorrow?

 

[kentblues]

What deadline was this?

The Financial DD reported 24th May which highlighted several issues. Those issues need to be resolved. Once they’ve been resolved (“each stage must be completed before the next can be concluded”) it goes to external audit, which is expected to take two weeks.

DD was to be completed by the end of the month leaving 2 weeks to complete external audit and 2 weeks to complete SCC process to sign?

Or perhaps the court date is no longer the deadline- its quite possible all the dates have changed again and I'm not up to date. If not tomorrow when was/is the DD stage due to finish? I assume the court date remains fixed.

EDIT: also Cllr Cowan said he had been told DD would be completed by the end of the month and that meant it would be very tight for the court date??

 

[Leeboy]

I don’t get it where’s this deadline come from and what’s it for but let’s hope the update is good news

I'd imagine 'our' refers to the Echo's deadline

 

[Holy Joe]

Didn't CLlr Cox say end of the month (hopefully) when he was looking after it?

 

[Streaky]

This is what we need :-

What were debtors' prisons?​

They were institutions in which people who couldn’t pay their debts were incarcerated. For centuries, these jails formed a key part of the British prison system.

I wouldn’t be surprised if this is the next policy out of the Tory party this week..

**sorry Mods won’t mention politics again

 

[kentblues]

Didn't CLlr Cox say end of the month (hopefully) when he was looking after it?

I think he did, then Cllr Cowan asked same question of officers and was told same I think.
Not saying Cowan has committed to a date- he hasn't, its more transparency but its a process etc. etc.

But the following would apparently be tight for the court date
DD was to be completed by the end of the month leaving 2 weeks to complete external audit and 2 weeks to complete SCC process to sign

Logic would then say if DD is slipping out from this muted schedule then either one or both the remaining steps need to be accelerated or it will not happen for the court date (with all the knock on effects re embargoes etc.)

But as has been said the general air of relaxation hopefully would indicate positive vibes rather than disinterest..

 

[Smiffy]

Update on Fossetts Farm development – Southend-on-Sea City Council

Fossetts Farm update

www.southend.gov.uk

"Earlier today, the council, its advisers, and Citizen Housing met to discuss the first and second pieces of the due diligence work that have been received.

"It was a productive and collaborative meeting. The significant complexity of the proposal and elements of the due diligence work done so far inevitably raised questions from all parties, and it is therefore necessary for the recently received financial analysis to be reviewed with some additional information. This effectively places us somewhere between the outcomes laid out in my first update of 23rd May.

"We expect this work to be completed and returned to us early next week with an initial summary report of the third part of due diligence also anticipated to arrive by midweek. All parties have agreed to meet again at the end of next week, once those reports have been received to progress discussions further.

"I understand the uncertainty for fans and other stakeholders is hard and all parties are working to support the club. However, it is necessary for the long-term protection of public finances and future financial sustainability of the Council for the due diligence work on this highly complex and high value project to be extremely thorough."

"We know that the football club is close to the hearts of many people, and we are all keen to provide clarity and certainty, but we must be mindful that the council has responsibilities and obligations in excess of a typical investor in a deal of this nature.

"The timeline for the next step has been laid out and we will update again as soon as is practicable after the next meeting."

Cllr Daniel Cowan, Leader of the Council

 

[Holy Joe]

We wait another week.

At least we have communication and some info, that's an improvement

 

[Smiffy]

So the DD isn't near complete yet and only a “summary” of the third part is due next week. That’s before the flags are sorted and then the audit process as well. We are still quite a long way from conclusion it seems.

 

[Cricko]

This is going to drag on for months and months and months and months. By the time they all get their arses in gear we will be sunk.

 

[Shrimpergonzo]

It’s all so slow from the Council, I appreciate the new regime have just taken over and at least they’re communicating regularly but we are in serious danger of running out of time now

 

[Tinks]

I did hear similar from another councillor yesterday who Informed me there had been a council meeting the previous evening to discuss matters relating the SUFC
I do get the feeling the council are on our side (If there is a side) however, the stumbling block by all accounts rests on the finances and the tie in

 

[Jack_23]

No urgency whatsoever and that’s coz they couldn’t give a toss about the football club. But yeah let’s just throw out a statement once a week to make it look like we are doing something where in reality nothing is happening