Supporters Forum 22nd Sept - Sainsbury Pulling Out?

[londonblue]

Correct. It's already been published that they are writing off many of their planned developments.

Writing off a development (i.e. not continuing) is completely different to writing off money that may well be legally owed to them.

 

[THE SEVENTIES NORTH BANK]

Writing off a development (i.e. not continuing) is completely different to writing off money that may well be legally owed to them.

I'm sure I read somewhere about 6 months ago that if Sainsburys pull out, we won't owe them a penny. I think clever Ron had it written in the contract.

 

[Gt Yarmouth Shrimper]

If it is the case, then it must spell the end for Ron?

Unless of course he can manage to blag another interested retailer into getting involved.

Perhaps this would explain the silence and Ron is frantically sorting another retailer behind the scenes to save him from ruin.

All speculation of course, so we will just have to wait and see if there is any sort of official announcement.

From a personal point of view, if it has gone Pete Tong, I would like to see Ron walk (easier said than done of course) and fresh investment, ideas and people come in. We have being going nowhere for years now. We have gone stale. Time for a change. Would it be any better?....who knows, but it certainly cannot be much worse?

If you think anyone will invest money in a football club, you are living in cloud cuckoo land.
What we need is a mug who will never realize that a football club is a bottomless pit that will quickly swallow his bank account.

 

[londonblue]

I'm sure I read somewhere about 6 months ago that if Sainsburys pull out, we won't owe them a penny. I think clever Ron had it written in the contract.

And you think all the clever lawyers at Sainsburys wouldn't see that one coming? I think the deal he struck means he personally isn't responsible for paying anything back, but that Southend United are.

 

[Jam_Man]

And you think all the clever lawyers at Sainsburys wouldn't see that one coming? I think the deal he struck means he personally isn't responsible for paying anything back, but that Southend United are.

Just for clarity, the money wasnt lent to Southend United, it was lent to the parent company and they lent it to us so it would be SEL or whoever owe the money to Sainsbury.

If you think anyone will invest money in a football club, you are living in cloud cuckoo land.
What we need is a mug who will never realize that a football club is a bottomless pit that will quickly swallow his bank account.

Clubs get bought all the time.

Orient just got bought themselves. No one buys one as a financial investment.

 

[mrsblue]

If you think anyone will invest money in a football club, you are living in cloud cuckoo land.
What we need is a mug who will never realize that a football club is a bottomless pit that will quickly swallow his bank account.

Clubs lose big money so the owners are either very stupid or very clever!

 

[THE SEVENTIES NORTH BANK]

If Sainsburys pull out then I would imagine they write off any sums paid.

Ron I would imagine is already hawking the idea around other retailers. I wouldn't imagine Tesco would be a prime candidate anymore given their news over the last few days but a site that size would be of interest to others I'm sure.

However, it means more delays for us. Not necessarily a good thing as it means more hand to mouth stuff for some time to come unless a replacement is found.

If they pull out, of course.

The answer could be Morrisons. They are fastly expanding. They have the mini store in the High Street and are just about to open another one in Ness Road Shoebury(the old cinema/camping shop).
They are probably looking to open a proper supermarket in this area.

 

[ooh-andy-ansah]

If it is the case, then it must spell the end for Ron?

Unless of course he can manage to blag another interested retailer into getting involved.

Perhaps this would explain the silence and Ron is frantically sorting another retailer behind the scenes to save him from ruin.

All speculation of course, so we will just have to wait and see if there is any sort of official announcement.

From a personal point of view, if it has gone Pete Tong, I would like to see Ron walk (easier said than done of course) and fresh investment, ideas and people come in. We have being going nowhere for years now. We have gone stale. Time for a change. Would it be any better?....who knows, but it certainly cannot be much worse?

Although I despise RM and his continual BS be careful what you wish for, i'm sure Portsmouth fans will agree with that sentiment.

 

[Smiffy]

Although I despise RM and his continual BS be careful what you wish for, i'm sure Portsmouth fans will agree with that sentiment.

Fair comment.

Although I have reached the stage now where I see change, as the only option.

Whatever happens, as long as we still have our club that is the most important thing.

 

[GBJ]

If you think anyone will invest money in a football club, you are living in cloud cuckoo land.

No, not really. There has been (& from when I was last discussed the subject with certain people 'in the know') are STILL people waiting in the wings to take the club off of RM's hands. I'd suggest it's you living in cloud cuckoo land if you don't believe there are people/parties ready to take over THIS football club, IF the right "opportunity" should arise.

 

[CC51DAS]

Personally, in view of the level of attendences over the last few seasons, I have been thinking that a LiDL stadium would do us :)

 

[GBJ]

I am sure there would be a number of interested parties looking to get involved given the right circumstances :winking:

I, for one, would welcome our new leader(s)

:winking: :whistling:

 

[Jam_Man]

Clubs lose big money so the owners are either very stupid or very clever!

..or very loaded in most cases!

 

[Gt Yarmouth Shrimper]

Just for clarity, the money wasnt lent to Southend United, it was lent to the parent company and they lent it to us so it would be SEL or whoever owe the money to Sainsbury.



Clubs get bought all the time.

Orient just got bought themselves. No one buys one as a financial investment.

Exactly the point I was making.
What we need is someone to give us x number of £ per year and be happy to give it away. Do you know anyone who fits the bill?

 

[Smiffy]

Exactly the point I was making.
What we need is someone to give us x number of £ per year and be happy to give it away. Do you know anyone who fits the bill?

Ron of course. He has been pumping in his own millions for years...

Maybe I shouldn't of said "invest" wrong choice of words.

But yes I am sure there are plenty more people out there with deeper pockets than Ron, that would take the club on.

 

[londonblue]

..or very loaded in most cases!

Don't they say, "the way to make a small fortune owning a football club is to start with a big fortune!"

 

[ooh-andy-ansah]

Clubs lose big money so the owners are either very stupid or very clever!

I've never met anyone who has enough money to buy a football club that is stupid. In fact many will offset the losses against other business profits for tax purposes, it isn't rocket science.

 

[mrsblue]

I've never met anyone who has enough money to buy a football club that is stupid. In fact many will offset the losses against other business profits for tax purposes, it isn't rocket science.

Exactly !!

The money is moved around leaving the FC looking doomed yet somehow these clubs carry on.

 

[Jam_Man]

Many clubs purely run at a loss and are subsidised by owners.

Colchester are the perfect example, Cowling has pumped money into the club and gets nothing out of it. Whether he gets tax benefits I have no idea, but it cant be that simple or he wouldn't have spent the last few years reducing his annual investment. Anyone who thinks he is making a profit from Colchester United is deluded.

 

[Gt Yarmouth Shrimper]

No, not really. There has been (& from when I was last discussed the subject with certain people 'in the know') are STILL people waiting in the wings to take the club off of RM's hands. I'd suggest it's you living in cloud cuckoo land if you don't believe there are people/parties ready to take over THIS football club, IF the right "opportunity" should arise.

That depends on what they perceive 'thr right opportunity' to be. For any business person to expect to see a return on any investment made to a football club (especially with the supporters expectations in the modern game) they would not do it as they would not see their money again,
Case in point is the chairman of Fleetwood town who told the football league show a few weeks ago that he has sunk approximately £15 million into that club just to get it into League One!:omg: