Interesting that there is any charge against SUFC as I'm sure that we were told at the time that it was not the football club who were borrowing any money from Sainsburys, it was one of the other group companies and was to be secured against other land in the area.
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- Thread starter Mick
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Correct, it was one of RM's other companies that then went on to loan it to the club....He actually made a big deal of it at the time, how he saved us, now it's a debt it belongs to the club. Funny that.
It was Him that saved us, wasn't it? perhaps he should change his name to Ron Green :winking:
SufcUpAndDown
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so what is the value of the club in total? Do we owe Sainsburys more than the value? Including interest and this years tax bill..
Er about -13-15 million I would guess at, seeing as we owed 11mill a few years back.. all assets belong to RM.
Creative accounting works wonders :stunned:
Creative accounting works wonders :stunned:
SufcUpAndDown
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What was Sainsbury's? Was it like 5 or 7m..... I can't remember as it was a long time ago, they are wanting intrest.....
The loan doesn't technically sit as a debt in our accounts. The loans went to the other group entity who gave the money to SUFC to pay the tax bills and other work capital commitments. Obviously that group lending sat as a debt on the books but as I've said in the past I never saw that as being anything that was likely to be repaid.
If there's now a charge against the club so that SUFC are guaranteeing those original debts then I definitely feel a lot less comfortable with the situation.
If there's now a charge against the club so that SUFC are guaranteeing those original debts then I definitely feel a lot less comfortable with the situation.
Who knows Ant, it is all a bag of worms......at the end of the day RM owns it all..where he loads debt or not is just juggling paperwork.... In answer to the previous poster apparently Sainsbury's bailed us out to the tune of 5 mill.
All we hear is just want they want us to hear....RM shouts from the rooftops when he saves us once more, yet as he owns every stick it suits him to.
All we hear is just want they want us to hear....RM shouts from the rooftops when he saves us once more, yet as he owns every stick it suits him to.
This isn't new. Sainsbury's have had a charge over the club since the refinancing in 2010(?).
This is just some sort of refinancing.
This is just some sort of refinancing.
C C Csiders
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I believe, Dec?
united we stand
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Us supporters are the reason this club exists:winking:
londonblue
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You realise that is complete rubbish? Putting "fact" at the end doesn't make it true. You left off the "end of".
SufcUpAndDown
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Sainsburys United...
Prove otherwise and discredit my statement then...
Gt Yarmouth Shrimper
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Rayleigh boy
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just a quick reminder that when a lot of people were swallowing R Martins "we are completely and utterly broke" bollox
there was one small voice of reason reminding everyone we got
"5 MILLION QUID from SAINSBURYS"
just saying
and all apologies accepted ...
there was one small voice of reason reminding everyone we got
"5 MILLION QUID from SAINSBURYS"
just saying
and all apologies accepted ...
When we get taken to court again for the umpteenth time, and this time they aren't there to service our debt to HMRC, then let's see who is moaning. We are merely identifying the facts about how the Club is run, and if people wanted to actually believe the truth, then maybe there would be more sustained protests against the mafia that runs our Club.
rigsby
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Someone did try a few years ago. He sleeps with the fish
Mick
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As I was accused of hating SUFC for merely sharing a Companies House update I guess you got off lightly by being called moaners.
Great Yarmouth (some places really do have inappropriate names) Shrimper, perhaps you could explain how you construe wanting better for the club as hatred ?
enfieldblue
Manager
Was just about to launch in with "that's our Southend, can only afford one fish, when I realised the plural of fish is in fact "fish" it could have been so funny:sad:
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