Southend Council statement

[Carl]

Haven't seen this posted yet.

The last paragraph is reassuring, not sure about the rest. Feels like the posturing will be coming from all sides over the next two weeks (apart from me, I'm now observing with the popcorn like almost everyone else, alas with deep sadness too that the worst all seems a little too real and likely)

Update on Roots Hall and Fossetts Farm developments – Southend-on-Sea City Council

Update on Roots Hall and Fossetts Farm developments general summary.

www.southend.gov.uk

PS for those who read this statement carefully, you'll see this is a better "why would a pension fund invest in this project" / "no pension fund would invest in this" etc response than I ever could have crafted. Sorry guys.

 

[BedfordShrimper]

The last paragraph is reassuring.

Am I reading this correctly - If Ron doesn't deliver on March 1st (or provide a solution the judge is happy with), then his dream and pot of gold is literally in tatters?

 

[NZamba Legend]

The last paragraph is reassuring.

Am I reading this correctly - If Ron doesn't deliver on March 1st (or provide a solution the judge is happy with), then his dream and pot of gold is literally in tatters?

If there's no football club it makes it easier I would say. There's only a need for stadiums if a football club exists.

Not saying anyone involved wants the club to dissolve but accidents do happen.

 

[edwardss2]

The mix of housing doesn't suggest a pot of gold. I have been involved in a few of these sort of mixed developments before, and they don't always end well. Does this "probably by a pension investment fund" mean that the funding is not in place?
I am a member of two pension funds - I shall watch their investments with interest!

 

[Smiffy]

We've been discussing this on the HMRC thread. But yes it probably does need it's own thread to be honest.

This bit in particular stood out:

Summary of current planning position​

The club has full planning permission for a new stadium and outline planning permission for the housing element. A reserved matters application has been submitted seeking full planning permission in relation to some of the housing elements.

There is also a standalone application seeking full planning permission for a smaller new stadium. However, we don’t yet have all the information required from the applicant to determine either application. The applicant is aware of what is required and discussions are ongoing.

Whilst target determination dates are set at validation, it is normal practice for these to be extended where this is mutually agreed between the applicant and the local planning authority.

 

[defender05]

If only the council wanted the thriving football club before the flats became available to them.

As for doing everything they can if only they felt the same way before the Seaway project of theirs. Can't wait for that to be finished or even started.

 

[nick12]

This month's update on Fantasy farm I am coming up 60 years of age and I still don't believe I will live long enough to see the Blues play in a new stadium.

Nothing in the statement sounds like it's finalised or signed off to me unless I am missing something

This is all balancing on a man who clearly just likes the attention even if it is all negative who has no morals or guilt and doesn't care who or what is destroyed in his goal for personal satisfaction including our football club

 

[The General]

Sounds like they are distancing themselves from it all!!

 

[TrevorFitzpatrickHattrick]

May as well say FAO Ron Martin at the top of their statement. Very much a direct (and much more detailed) riposte to our owner's vague jumble of words earlier this week.

My fear is that the window to get this all aligned is far too small. SBC seemingly need more information from Ron, which they'll in turn need to consider. If the bridging finance is linked to these approvals being satisfied, how is this going to be achieved before our latest derby match with HMRC? I believe there is a very small likelihood of a final adjournment being granted if there is unequivocal evidence of robust future funding being imminent and very much feel this is the absolute best-case scenario for us as things stand.

 

[Carl]

May as well say FAO Ron Martin at the top of their statement. Very much a direct (and much more detailed) riposte to our owner's vague jumble of words earlier this week.

My fear is that the window to get this all aligned is far too small. SBC seemingly need more information from Ron, which they'll in turn need to consider. If the bridging finance is linked to these approvals being satisfied, how is this going to be achieved before our latest derby match with HMRC? I believe there is a very small likelihood of a final adjournment being granted if there is unequivocal evidence of robust future funding being imminent and very much feel this is the absolute best-case scenario for us as things stand.

Precisely my take - concerns me more than it reassures me - I'd imagine the adjournment would only be able to happen if there is a time lag between planning accepted & bridging accepted; and payment being made to HMRC - and even then, it's not a guaranteed adjournment... look at Macclesfield.

I think if either of the two acceptances haven't happened, we've got a very bad result coming our way. Just my guess.

 

[Carl]

If there's no football club it makes it easier I would say. There's only a need for stadiums if a football club exists.

Not saying anyone involved wants the club to dissolve but accidents do happen.

And this is exactly why the supporters group should be representing to MP's that any planning permission conditions should be extended to include any future football clubs, rather than just the current SUFC Limited. Not an outcome any of us want, but preserves the facility for the city.

 

[thenobster]

If there's no football club it makes it easier I would say. There's only a need for stadiums if a football club exists.

Not saying anyone involved wants the club to dissolve but accidents do happen.

This is what I've said before. At his age, he wants quick money. A club is a massive anchor (as he is)... he's best off without it really

 

[The Big Dady]

And this is exactly why the supporters group should be representing to MP's that any planning permission conditions should be extended to include any future football clubs, rather than just the current SUFC Limited. Not an outcome any of us want, but preserves the facility for the city.

Think they have already

 

[Liam AAS]

This statement really put the willies up me today. I thought it was as simple as Ron needing £1.4m to pay HMRC by way of a bridging loan but now things have gotten so much more complicated.

The value of Ron's bridging loan, or at least the terms of the loan, will be wholly dependent on the prospect of completing the development. Now we don't even have full planning permission. Yes the stadium is approved but the housing is Ron's pot of gold, the football club is just the mechanism to achieve it. If the prospect of the development isn't realistic, no loan, no loan means HMRC wind us up on the 1st of March.

I think this is it now. I cannot see a way round it, we have run out of time.

 

[Mad Cyril]

My take is that the smaller stadium is for a spinoff SUFC, like Knotts Landing or Falcon Crest.

 

[Jai]

Sounds like they are distancing themselves from it all!!

They are getting uncomfortable. They know Ron Martin is immensely unpopular and has attracted negative headlines. They know they will be scrutinised too, and don't want to be seen as complicit when we go bust on 1 March.

It's part posturing and ensuring that everyone knows the ball is in Ron Martin's court, because it doesn't actually say very much that wasn't already in the public domain already.

 

[Smiffy]

This statement really put the willies up me today. I thought it was as simple as Ron needing £1.4m to pay HMRC by way of a bridging loan but now things have gotten so much more complicated.

The value of Ron's bridging loan, or at least the terms of the loan, will be wholly dependent on the prospect of completing the development. Now we don't even have full planning permission. Yes the stadium is approved but the housing is Ron's pot of gold, the football club is just the mechanism to achieve it. If the prospect of the development isn't realistic, no loan, no loan means HMRC wind us up on the 1st of March.

I think this is it now. I cannot see a way round it, we have run out of time.

I believe it’s closer to £2m not £1.4m required. That’s just the tax bill as well. Just to cheer us all up further.

 

[Paulie Walnuts]

A statement to shift the blame/distance themselves from the worst outcome which of course Ron will do too, in terms of blame (when doesn't he).

 

[Jai]

A question. Full planning permission does exist for an existing application, the one with the hotel in the main stand.

The revised plan contains relatively minor alterations, which may not alter the actual structure too much for most of the ground, with the exception of the main stand.

Would it be possible to begin construction for the initial scheme before permission is granted for the revised scheme? Therefore releasing funds?

May be a question for someone expert in these matters, which I am not.

 

[LeedsSUFC]

PS for those who read this statement carefully, you'll see this is a better "why would a pension fund invest in this project" / "no pension fund would invest in this" etc response than I ever could have crafted. Sorry guys.

No one questioned why a pension fund would be interested in the housing element.

People questioned a pension fund would risk people's money investing in a club that will 100% lose at least £1.4million every season on season and whether they would really give a **** for the club, or just a pull a runner once the housing was done.

You still haven't provided any fans outside your inner circle of pals a clue on what your vision is/was...

If you showed a path of sustainability and becoming a profitable club...

If you could show how the pension fund would be secured in supporting the club beyond FF completion...

If you could show how it would be different from one owner interested in building a housing development (Ron) over one collective of owners interesting in building a housing development (Your consortium)...