See my previous reply.
Still dont see the logic.
The 2nd company you loan it to still have to pay back every penny. If you loan so much that they cant pay it back you are just as screwed as they are. The loan has to be affordable or its pointless.
See my previous reply.
But Roots Hall isn't out of town. It's right in the middle of town. Building Sainsburys on FF would be out of town in the same was Waitrose is.
It's not only the location but the size of the store. If they concentrate on food they don't need a large store or land the size of Roots Hall.
The guy is a property developer so in essence he wants theclub bust so he can build on the sitenew stadium built so he can develop Roots Hall allegedly ?
I think the loans work like this,another company which no doubt this guy is associated with lends a pile of cash which may or may not go into the club,the club are charged interest which is impossible to sustain BUT somebody somewhere takes a large chunk for probably borrowing nothing allegedly ?
If I owned a large house worth a million then remortgaged for 500k with the bank charging 10% per annum and I then lend the 500k to another source but charge them 50% per annum I then make a lot of cash without risk.
Edited for accuracy.
Look, RM does not want SUFC to go bust. If he did he could have done that very easily about five years ago, then again four years ago, very easily again two years ago and again a year ago. In fact he could have done it any time and could still do it any time.
It is absolutely not in his interests for SUFC to go under because it would take him with it.
What he wants is for FF to be built and he will benefit from the rents the whole development generate for the rest of his life and then his family will continue to do so etc etc.
Further, when you lend money to companies you already won and charge high interest rates all you are doing is paying income tax on your own money. Unless there is other investment from another source, I can't see how it can help unless a loss making company is used to offset the profits of another company owned by the same bigger company. I'm happy to be corrected and educated though by people on here that know far more about accounting than I do.
I'm sorry, neither of your arguments have any commercial sense or logic.
My post was aimed at the Bury owner not Ron who I consider our saviour:hilarious:
Seriously when was the last time Ron Martin did an interview or answered any questions?
The man is a joke and should not be put in charge of a creche let alone a football club.
Apologies if this has already been covered, but can I confirm that its Ron (or one of his companies) that owns the freehold to RH? Was the freehold the FF ever purchased from the council?
Every time he does an interview or answers questions he then gets accused of lying or breaking promises. It's fair enough that he's not telling us anything so that he doesn't get continually criticised.
It's also the case that not publicly revealing stuff is good for SUFC. Confidential and sensitive stuff in the public domain could damage the club, and so we need to put up with that if we want what's best for SUFC.
However - that's not to say that RM is immune from criticism and that the silence isn't really concerning. We all hope for RM to come out with some good news.
I think its SEL which own RH.
I don't think the freehold of FF has been purchased, there was a ransom strip many years ago too (owned by White Hill ??*) but I think that has been sorted for a while
* Edit, White hill doesn't sound right but I am struggling to think of the right name.
Edit again
It was sold to southend estates and resolved according to this thread
http://www.shrimperzone.com/vb/archive/index.php/t-40569.html
I think its probably a mixture of confidentiality and 'once bitten' - although, there are the odd quotes like on site by ... that slip out and slip by.
We must be near a time when all will be revealed as it can't go on like this much longer. Presumably as soon as Sainsburys confirm their plans we will find out more.
Are Ron's hands tied contractually to Sainsburys or could he be negotiating behind the scenes with other parties? I guess he can talk in private to others on the premise that its likely to fall through - at least I hope he is. If that's the case, I'm not surprised he would be keeping very tight lipped.
If he is tied to Sainsburys, I would assume there is a time limit after which he can opt to look elsewhere for a development partner?
So the money that Sainsburys advanced to the club in order to bail us out of various court cases etc. What is that secured against? Theoretically, could they seize assets from SEL as we can't pay it back or was it all tied to them fulfilling their part of the deal - i.e. if they bail, they forfeit the advances.
Serious question ( so serious answers please ).
I have asked this before but can't remember when or the answer. ( that's an age thing I think ).
But if RM were to pass away , what does that do to our situation as a club ?
This conjures up an image of Barry Corr fending off 4 bailiffs trying to seize him, whilst Jack Payne tries to escape between the legs of another.
The Sainsbury money is an advance or deposit on the RH site , it is secured but there is no repayment plan and unless they ask for it back, which they may not be able to do contractually, then there is little or no chance of us defaulting and therefore losing RH.So the money that Sainsburys advanced to the club in order to bail us out of various court cases etc. What is that secured against? Theoretically, could they seize assets from SEL as we can't pay it back or was it all tied to them fulfilling their part of the deal - i.e. if they bail, they forfeit the advances.