What is the situation? [Archive]

BrettieAngell

18-01-2009, 09:46 AM

Sorry if this is covered somewhere else but I am so confused as to what is actually is going on with the new stadium.

What are we waiting for?

Basically money, we haven't got any and in the current financial climate we cant secure the funding.

Desert Shrimper

18-01-2009, 10:21 AM

This stadium has to be the unluckiest stadium in the history of unlucky stadiums....

shrimp and two veg

18-01-2009, 03:20 PM

Basically money, we haven't got any and in the current financial climate we cant secure the funding.

Although,Ron hasn't admitted this has he?

The plans are not shelved are they?

Thus we have confusion i guess.While we have no word from the club i'll take it as keep hoping! When it's confirmed that we have stopped trying till further notice then i'll be kissing goodbye to it all.Good luck Ron!

BrettieAngell

18-01-2009, 03:46 PM

Although,Ron hasn't admitted this has he?

The plans are not shelved are they?

Thus we have confusion i guess.While we have no word from the club i'll take it as keep hoping! When it's confirmed that we have stopped trying till further notice then i'll be kissing goodbye to it all.Good luck Ron!

http://www.shrimperzone.com/vb/showthread.php?t=43999

shrimp and two veg

18-01-2009, 07:47 PM

http://www.shrimperzone.com/vb/showthread.php?t=43999

Inconclusive?

..or have i missed something.There's no declaration of ceased building works there:unsure:

BrettieAngell

18-01-2009, 07:53 PM

Inconclusive?

..or have i missed something.There's no declaration of ceased building works there:unsure:

We can't afford to start building at the moment that's as far as I know, where Irate Ian when you need him?

Dave the Shrimper

18-01-2009, 11:33 PM

This stadium has to be the unluckiest stadium in the history of unlucky stadiums....

It certainly seems to be a Jonah at the moment.

JamesTheSuperBlue

19-01-2009, 12:00 AM

Pubey

19-01-2009, 12:36 AM

Heard through the grapevine that RM hopes to get on site in March. Whether that happens or not remains to be seen. If the plans had been put on the back-burner temporarily, I'm sure we'd know about it by now.

agreed. i'm working on the 'no news is good news' premise, and that RM has only been extremely positive about the funding situation. it's not going to be easy, but i think there is a lot going on behind the scenes and as you say, we probably would have heard if RM was looking to delay things or if we were going to have to have a re-think

grassroots

19-01-2009, 08:36 AM

I cant see this development getting out off the ground anytime soon and we will be living 'hand-to-mouth' for a few seasons yet. SUFC SHOULD be in a reasonably strong position however, as the owners supposedly cleared their debts in exchange for the freehold of Roots Hall and Boots and Laces when they took over 8/9 years ago. The stadium fully depends on the associated enabling projects, eg Roots Hall's new supermarket/housing and the retail/hotel/flats development at Fossets. RM is no sugar-daddy, he is a successful developer and I'm sure he will not be building anything until the financial climate improves.....and when will that be?

Rob1920

19-01-2009, 01:16 PM

RM is quite possibly waiting to see if the government bank-bailouts both here & in the US (where apparently at least some of the money was being borrowed from) that were intended to get the banks lending again actually have any effect. That could be why we're not hearing anything one way or the other. RM is just waiting to see what happens with the banks I would imagine.

Homer

19-01-2009, 04:57 PM

Heard through the grapevine that RM hopes to get on site in March. Whether that happens or not remains to be seen. If the plans had been put on the back-burner temporarily, I'm sure we'd know about it by now.

RM said something on those lines at the recent shareholders meeting held at the Civic Centre he was looking to start on the training ground before moving
on to the retail and ground developments

we have waited this long im sure when there is more news RM will come out and tell us all

Rayleigh boy

19-01-2009, 05:41 PM

the capitalist pigs have taken millions of pounds of profit out of the banks and run off leaving the country and RM and SUFC in the ***** ..

BrettieAngell

19-01-2009, 07:15 PM

grassroots

20-01-2009, 07:55 AM

We still have about £4 million worth of debts I'm sure someone else can confirm this

If that is so, I wonder how this has occurred, bearing in mind the last 5 years have probably been the most lucrative in the club's recent history, with transfers out, topping those coming in, some big, big cup games, 2 Millennium finals, two promotions and record season ticket sales. The mind boggles at our situation had we had 5 average seasons!

Firestorm

20-01-2009, 12:23 PM

If that is so, I wonder how this has occurred, bearing in mind the last 5 years have probably been the most lucrative in the club's recent history, with transfers out, topping those coming in, some big, big cup games, 2 Millennium finals, two promotions and record season ticket sales. The mind boggles at our situation had we had 5 average seasons!

because it was nearer 6 million 7 years ago maybe

We may have had comparatively successfull seasons recently but we have spent considerably more money (in 2003 our wages were 1.825M in 2007 they were 3.97M)

The deficit in 2003 was 4.5m
in 2007 the deficit was 2.9M

Irate Ian

21-01-2009, 05:47 PM

We can't afford to start building at the moment that's as far as I know, where Irate Ian when you need him?

IMO the chances are that things will become altogether clearer after February Planning meeting concerning RH development.

Unfortunately may not come quick enough before transfer window closes, but suspect much better news may be headed our way via the blog once Sainsburys deal is sealed by the final approval of detailed permission for their store and 420 odd flats.

With interest rates so low this will be a very good time to be borrowing and I feel sure it will be avaialable once the final piece in the jigsaw slots into place.

bluebrian

21-01-2009, 06:29 PM

IMO the chances are that things will become altogether clearer after February Planning meeting concerning RH development.

Unfortunately may not come quick enough before transfer window closes, but suspect much better news may be headed our way via the blog once Sainsburys deal is sealed by the final approval of detailed permission for their store and 420 odd flats.

With interest rates so low this will be a very good time to be borrowing and I fee sure it will be avaialable once the final piece in the jigsaw slots into place.

Blimey Ian thats really positive - I didnt even know that there was still another planning meeting - I thought RH had the full go a head as well?

Irate Ian

22-01-2009, 05:06 AM

Blimey Ian thats really positive - I didnt even know that there was still another planning meeting - I thought RH had the full go a head as well?

Outline Permission [in prinicpal] only granted for re-development of Roots Hall site + exisiting flats which front onto Victoria Avenue.

[1] Detailed Permission and [2] Legal Agreement with Council remains o/s, as far as the general public/supporters are aware.

This is all inexstricably linked to building a new stadium at Fossetts Park.

Despite the gloom during the current credit crunch, RM if nothing else is a man of vision and IMO he will be balancing the lower costs of borrowing against the overall value of the development.

Suppose he could always consider selling all or part of to other developers, if he does not want to bite off more than he can chew, or take less risk through his property development company.

Given that the government now have massive public stake in some of the banks and they are advocating [pressurising maybe better description] for borrowing to be restored; and that one of the Scottish banking groups are believed to be connected to the football club, lets wait & see what finance offer Gordon Brown [the taxpayer] may come up with !

No doubt RM's proposed weekly blog will illuminate.

Rayleigh boy

22-01-2009, 11:09 AM

the obvious danger is that RM and Sainsburys go ahead at Roots Hall - and what we end up with at FF is a few deck chairs and a load of promises ....

Rayleigh boy

22-01-2009, 11:10 AM

oh - and any talk of ground sharing (even temporay) and I propose an immediate occupation of RH

Homer

22-01-2009, 03:14 PM

this point has been covered so many times im sure people just dont read or listen to what RM has said in the past we willl not leave roots hall till the stadium at FF is built and that has now gone back about 10 months suggest
you listed to him on the bbc essex web site cricko has covered the link on another part of the forum

mike101

22-01-2009, 05:33 PM

In Ron’s BBC radio interview today, he talks at length about the financing issues, caused by the credit crunch. He also details the solution, which seemed to be help from Sainsbury's and pre-letting sufficient retail space to convince the banks to lend. Sainsbury's have a 50% owned property arm, own a bank and are cash rich, so would appear to be in a good position to help. He also mentions a 10 -12 month delay from the original plan and that work should start in the spring, so it looks like an announcement of funding is imminent. Around the time his blog starts. I suspect.
A link to the interview http://news.bbc.co.uk/sport1/hi/football/teams/s/southend_utd/7844347.stm

Irate Ian

22-01-2009, 07:51 PM

the obvious danger is that RM and Sainsburys go ahead at Roots Hall - and what we end up with at FF is a few deck chairs and a load of promises ....

That is for the council to safeguard against on our behalf, by creating a Legal Agreement, which dictates the sequence in which differing parts of the linked developments should or must take place.

Demand our councillors and their legal team do their homework and ensure that the club are first re-housed before Sainsburys are.

Rayleigh boy

23-01-2009, 04:17 PM

That is for the council to safeguard against on our behalf, by creating a Legal Agreement, which dictates the sequence in which differing parts of the linked developments should or must take place.

Demand our councillors and their legal team do their homework and ensure that the club are first re-housed before Sainsburys are.

circumstances change and there is always the power of a fait accompli -

oh whoops - i've got the money from the sainsburys but the company doing ff has gone bust and i'm away on holiday for the next 6 years ......

legal agreements don't put things right if its all gone wrong - someone ending up in court doesn't get a stadium built ....

anyway - I do sort of think RM has actually caught the football bug and wants to get it done ......but at the day hes going to always protect his position/family/money first -

the key to all of this is obviously SUFC keeping full possession of RH until the shiny 22k is actually built -

weststander

23-01-2009, 05:30 PM

circumstances change and there is always the power of a fait accompli -

oh whoops - i've got the money from the sainsburys but the company doing ff has gone bust and i'm away on holiday for the next 6 years ......

legal agreements don't put things right if its all gone wrong - someone ending up in court doesn't get a stadium built ....

anyway - I do sort of think RM has actually caught the football bug and wants to get it done ......but at the day hes going to always protect his position/family/money first -

the key to all of this is obviously SUFC keeping full possession of RH until the shiny 22k is actually built -

Does the covenant on Roots Hall not cover this ??? I thought that before the Roots Hall site could be developped on there had to be a new stadium in place ???

Irate Ian

23-01-2009, 09:48 PM

Does the covenant on Roots Hall not cover this ??? I thought that before the Roots Hall site could be developped on there had to be a new stadium in place ???

If you refer to the covenant when RH was first given over, who is there now left to now try to enforce it ?

RM could effectively have us out for failure [or inability] to pay rent although a large sum has already been written off, he has variously stated rent has not been demanded.