A quick lesson then - a company is obviously a separate entity to an individual for tax purposes. It has to have directors and shareholders. But if Ron is the majority shareholder in "his companies", then to all intents and purposes - especially if he owns the equity either individually or as a nominee - then actually it is his money.
One way of looking at it is to ask "If his companies were sold, who would get the sale proceeds?"
If that is Ron, then it is his money. Just because he hasn't taken it out and put it in his bank account before putting it into the club doesn't mean otherwise (and actually he may have even done some of that; I have no idea).
Either way, he is either using his hard earned cash or has mortgaged or offered as security his assets in order to finance our club. Most of us buy our tickets, programmes, shirts etc and that's the extent of our financial commitment. Not so with Ron. If the club folds, he probably goes with it, or a huge chunk of his empire does, anyway.
So actually, the spin that it ISN'T his own money, in some shape or form, is the fantasy.
One significant caveat! If the money used to run his businesses are actually debt, loans etc it was never his money in the first place.
Not arguing with any of your points about how entwined or his commitment to the club...it's actually a fine example of poor business in truth and poorly managing your own risk!
The man is woefully poor in business and taking us down with him.
In my opinion the only way he can save himself and the club is to accept a loss and sell part/all the club off including part of his project to another investor/investment but stay involved with the stadium complex but he will have to accept a loss.
Been saying it for about a decade now but the longer he runs things as they are the more chance there is that it will be unrecoverable and will go under.
But you can't get the loan without the security in the first place. Let's say you own your house. There's no mortgage. You start a business and take out a loan of £200k using your house as security.
Whose money is it?
https://www.echo-news.co.uk/news/lo...aged-his-mansion-to-bail-out-southend-united/Odd that a man who - supposedly - puts his own money into the club on the regular, would need to do something so drastic though, no?
One significant caveat! If the money used to run his businesses are actually debt, loans etc it was never his money in the first place.
Not arguing with any of your points about how entwined or his commitment to the club...it's actually a fine example of poor business in truth and poorly managing your own risk!
The man is woefully poor in business and taking us down with him.
In my opinion the only way he can save himself and the club is to accept a loss and sell part/all the club off including part of his project to another investor/investment but stay involved with the stadium complex but he will have to accept a loss.
Been saying it for about a decade now but the longer he runs things as they are the more chance there is that it will be unrecoverable and will go under.
I actually think we are ****ed without him.Yeh I'll give you that one......his inheritance ;-)
The point is we are f*cked with Ron.
Almost certainly Ron is borrowing against his assets, probably land that he owns. Land is going up in value every year, there are so many developers with plans to build but just leave the sites derelict as the land increases in value. Some then sell it off and take a profit. This is going on all over the country leaving in many cases eyesore in our towns.
One significant caveat! If the money used to run his businesses are actually debt, loans etc it was never his money in the first place.
Not arguing with any of your points about how entwined or his commitment to the club...it's actually a fine example of poor business in truth and poorly managing your own risk!
The man is woefully poor in business and taking us down with him.
In my opinion the only way he can save himself and the club is to accept a loss and sell part/all the club off including part of his project to another investor/investment but stay involved with the stadium complex but he will have to accept a loss.
Been saying it for about a decade now but the longer he runs things as they are the more chance there is that it will be unrecoverable and will go under.
That's the biggest IF in the world. Not like we've been waiting years and years. Yes there has been excuses, reasons bla bla but I'm sure in another 10 years when it still hasn't been delivered there will be more reasons, excuses.With planning on RH and if he gets the green light for FF. Then he may well be considered the best every businessman in the history of our town........How strange would that be?
Genuine questions, no baiting;
2 - Can you name me some things that Ron has done, which are good for this football club. Since he took control, we have amassed a £17m debt (on paper), and have lost our only two major assets; Roots Hall and Boots & Laces.
What good things, can we call upon to counteract those, please?
I prefer Smiffy's take on things to Yorkshire Blue's. I think we were successful under Tilson, despite Ron, not because of Ron. Look how that period ended. Conmen are good at convincing you things are far better than they actually are.
To be fair to @Yorkshire Blue he was responding to questions thrown up by @GBJ. If you were to merge the two views together (Yorky's and Smithy's) that would probably be the most balanced view of Ron (or as good as you're going to get on ShrimperZone).I prefer Smiffy's take on things to Yorkshire Blue's. I think we were successful under Tilson, despite Ron, not because of Ron. Look how that period ended. Conmen are good at convincing you things are far better than they actually are.
I think we all need to remember that it is not Ron's fault that the stadium hasn't yet been built. I'm sure, given the choice, he would have much preferred for it to have been done and dusted back in 2008 but the credit crunch financial crisis in 2007 scuppered that.I think we were about £3m in debt when Ron took over officially, some time in Summer 2000. But we had Roots Hall and B&L, some of the most valuable land around?
We are now what £17m+ in debt and own **** all. Heading back to league 2 and with a crumbling stadium and training facility to boot.
20 years later of chasing the "dream" and we are right back where we started and in a lot worse position, certainly financially and in terms of assets and our home. Yes we have had a couple of good years along the way. But wheres the progress, the new stadium, financial stability etc?
Yes he has somehow kept the plates spinning for this long (and to be fair should be acknowledged for) but for how much longer can this chasing of the "dream" continue, before ultimately everyone including our club, goes down in flames?...