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

[Shrimper]

If this isn't wrapped up by the WUP is there a real concern they could wind us up?

 

[dusterman]

If this isn't wrapped up by the WUP is there a real concern they could wind us up?

I don’t believe so. More than enough to convince for an adjournment if wheels still in motion with SBC. Even, if said, Cllr Cowan needs to go to court.

 

[Yorkshire Blue]

Something has to give.

It's becoming apparent that SBC isn't going to get this deal through in time for the club to avoid:

The consortium pulling out
The national league issuing a points deduction expulsion
The judge winding up or extending
Embargo remaining in place

Surely a debt of 200k being paid gives all parties more time, satisfies the courts and the national league, raises embargo and allows the club to function properly.

It's a bitter pill to swallow for the consortium but it's becoming necessary.

Get the season cards on sale with an agreement in writing from Ron via solicitors that all funds remain in club and for club debts and running costs only.

Even if various other parties come forward with winding up petitions etc there will be time to make signings and satisfy the league long enough to get further down the line and most importantly closer to SBC agreeing the deal.

Whilst the process is unlikely to be completed prior to our next Court hearing, there may enough progress by then for the Consortium to put their hands in their pockets once more and pay enough of it and/or agree a payment plan for Stewarts’ to withdraw (or at least, adjourn) the petition.

They will no doubt want to see some substantive progress first. Of course they won’t admit this right now and there will be lots of grandstanding between now and then to keep the urgency up.

Things are at least moving forward - unlike the first three months. Everyone wants it done yesterday but at least they want it done.

 

[AlfaShrimper]

Ron will NOT release his only power chip in this game. Separating the deals is a non starter

 

[Barry.C]

Whilst the process is unlikely to be completed prior to our next Court hearing, there may enough progress by then for the Consortium to put their hands in their pockets once more and pay enough of it and/or agree a payment plan for Stewarts’ to withdraw (or at least, adjourn) the petition.

They will no doubt want to see some substantive progress first. Of course they won’t admit this right now and there will be lots of grandstanding between now and then to keep the urgency up.

Things are at least moving forward - unlike the first three months. Everyone wants it done yesterday but at least they want it done.

Yes this possibly but why cant more than one party share the cost to show faith ?

 

[Yorkshire Blue]

Yes this possibly but why cant more than one party share the cost to show faith ?

Because the other party is skint and has exhausted their lines of credit.

 

[Barry.C]

Because the other party is skint and has exhausted their lines of credit.

Hes been that for some years and been bailed before by other interested parties in the background

What about Citizen Housing as well ?

 

[Smiffy]

Ron will NOT release his only power chip in this game. Separating the deals is a non starter

Agreed. However, he has the choice to do so if he wishes. You know, do the right thing, as he apparently loves the club. But, he is choosing not to and as such heat should be applied.

 

[AlfaShrimper]

Agreed. However, he has the choice to do so if he wishes. You know, do the right thing, as he apparently loves the club. But, he is choosing not to and as such heat should be applied.

When has he even thought of anyone but himself??

On that note I'm surprised we haven't heard anything about protests yet considering the trust and protest groups statement

 

[The Original Tribal Chief]

Genuine question... is it Ron holding RH hostage or CBRE as they need the security?

Both

 

[Smiffy]

My tears and fears for Southend United's future

IT might be my job but I have found putting things down on paper unexpectedly therapeutic during these tough times at Southend United.

www.echo-news.co.uk

 

[Target man]

Council progress. View attachment 32182

I'd agree with you normally, but I have seen snails in my garden move from one end of the lawn to the other in a few days. I only wish the council could progress that quickly.....

 

[Yorkshire Blue]

Agreed. However, he has the choice to do so if he wishes.

Has he?

Much like Roots Hall, the club is subject to various debentures and floating charges.

They will presumably need to be discharged before he delivers the club to the consortium (the consortium won’t be willing to be responsible for the £20m+ of debt he’s racked up). Is Ron in a position to discharge those?

 

[fbm]

Both

But regardless of whatever Ron says... CBRE have the final say, yes?

 

[Cricko]

With all these delays how are the consortium meant to continue. They wanted to start work on the ground with the fanzone and repairs and also the training ground before next season. They need those extra income streams.

Are they expected to keep covering all out going costs with no guarantees of when they might actually be in charge. Irrelevant of the court case even if adjourned i just cannot see them keep putting in more and more money.

Once again very worrying times.

 

[Somerset Ex-TTB]

Does anyone know if staff got paid today?

 

[Jack_23]

Does anyone know if staff got paid today?

If it’s anything like previously they don’t get paid till mid afternoon . If at all

 

[BriggBlue]

Why are staff salaries being questioned? That's where the consortium have been putting money into the club, so the day to day expenses are covered.

The historical ones are where the problems lie

 

[Supershrimper]

Why are staff salaries being questioned? That's where the consortium have been putting money into the club, so the day to day expenses are covered.

The historical ones are where the problems lie

Question may be asked, why pay staff salaries when your going to back out 2-3 weeks later.

I'm sure even if the consortium did back out they don't seem the sort of people not to pay salaries just because they might be getting itchy feet.

 

[Target man]

With all these delays how are the consortium meant to continue. They wanted to start work on the ground with the fanzone and repairs and also the training ground before next season. They need those extra income streams.

Are they expected to keep covering all out going costs with no guarantees of when they might actually be in charge. Irrelevant of the court case even if adjourned i just cannot see them keep putting in more and more money.

Once again very worrying times.

Very true.

Justin was very keen to get the fanzone up and running for the Euro's which would have brought in much needed income to fund other projects. That boat has been missed now and times do look dark indeed. Even if it's all sorted before the season, the delays will have certainly impacted the team and it would be difficult to see how next season will be different from the last. Let's hope we don't get hit with another point deduction because that will put us well back again.... if indeed we even have a club left by then.