The paying off of the debts and charges

[Jim Levenstein]

I heard it was Sheik En-Vaarque.

@TheTowers

 

[Supernaut]

I heard it was Sheik En-Vaarque.

Let's just say it's some kind of Sultan/Sheik.

 

[MK Shrimper]

Let's just say it's some kind of Sultan/Sheik.

Sultan Vinegar?

 

[kentblues]

Sultan Vinegar?

Hope not - would just rub salt in the wound..

 

[Tommy2holes]

So is it just rumour that money has poured in from somewhere to clear debts or a known fact? Not doubting anyone's info, I've obviously just missed out on the details probably due to spending too much time refreshing the 'whos it going to be' thread..

How much are we talking that's been settled this week?

 

[fbm]

Having trouble crossing the t's.

Lazy.

Yeah, but the way the i's have been dotted is sheer quality.

 

[SUFCFANS]

What cash injection is this thread referring to? I must have missed something!

 

[NG_Shrimp]

What cash injection is this thread referring to? I must have missed something!

A large number of charges/loans against SEL, Roots Hall, SUFC were paid in full. Looks like all the Sainsbury's debt is gone.

Lots of speculation there is a take over. I find it more likely its just RM shuffling the pack and refinancing his debt elsewhere. But who really knows?! Certainly not me or any one here!

 

[united we stand]

We know rob has been talking to the council about them renting the flats to be built on roots hall with the council taking ownership after 25 years.
This wouldn’t (I assume) be possible while there are charges on roots hall. Is Ron cleaning things up help this process?

 

[Napster]

T

We know rob has been talking to the council about them renting the flats to be built on roots hall with the council taking ownership after 25 years.
This wouldn’t (I assume) be possible while there are charges on roots hall. Is Ron cleaning things up help this process?

The only charges against RHL relate to Citizen Housing who are working with the council on this, so I see some merit in this post.

 

[Yorkshire Blue]

T


The only charges against RHL relate to Citizen Housing who are working with the council on this, so I see some merit in this post.

Citizen Housing (Southend) Ltd has 2 directors. One of the two is a 29 year old called Jack Leonard Martin, who I think is Ron's son. He is also a director of Roots Hall Ltd.

The other is Alexander Dellal, who helped fund Dominic Chappell's takeover of BHS.

He was featured in Tatler

https://www.tatler.com/article/meet-the-dellals

His grandfather was "Black Jack" Dellal.

 

[Snowy]

Reading Tatler these days......................

 

[Holy Joe]

does this mean my shares are worth something now?

 

[londonblue]

Ok, so huge speculation as to the reason for this... is there a consortium? Has Ron sold all or part of his stake?

In my opinion, no.

The reasons for this sudden cash injection might actually be even more exciting... it indicates to me that we might be finally ready to start getting serious re the new stadium.

When you are dealing with a local authority and big developer, they will not want to be dealing with companies that are indebted up to the hilt. Ron won't want to give personal guarantees, so it's my guess that the shareholders of the companies concerned have cleared any outstanding debts so that the companies are "clean" and available for the debentures and facilities that will be needed to bankroll a new stadium and retail park/hotel/casino whatever.

I reckon it's a coincidence and nothing to do with the manager.

I have no inside info on it, just guessing.

It could even be more mundane than that. It could be simply that we've paid off a debt or two with the money we've made with player sales over recent years. The benefit of that would be that cashflow would be improved...

Who knows. Frankly, who really cares?

 

[RobM]

Hang on - someone has paid the £14 million off?

 

[Tommy2holes]

So I ask again. How much actual money has changed hands to pay off this debt. If it's substantial (ie) millions, then we know it's got to be a new income stream. Ron doesnt hasn't had money of any note for a very long time

 

[Firestorm]

Re the amount

IIRC a number of the loans taken out which were secured on pockets of RM property/land , incl RH, were at the time of cash flow issues and were to keep HMRC from the door, they were also a sub on the final settlement expected from Sainsbury.

These may have been no more than 100-200k a go, so if these have now been cleared it may not have been a particularly vast sum of money

 

[NG_Shrimp]

Its simple, just look at the crystal clear accounts :) You see SEL UK own about 70% of SUFC. SUFC is a subsidiary of SEL UK and SEL UK owe Roots Hall about £9million. SEL BVI is the off-shore subsidiary of SEL UK and Roots Hall owe SEL BVI about £7 million. All thees companies are connected with Martin Dawn PLC and Mezcal Investments (another off shore company who own 50% of SEL UK and their subsidiaries). Variously SEL UK, SUFC and Roots Hall have leveraged debt against their assets namely land and football club revenue around the Roots Hall estate. Some of those loans have been paid off (Sainsburys et al) other charges have recently been secured with Citizen Housing - controlled by Rons son :) Another name in the frame is Topland who are also very fond of the British Virgin Islands :)

You see it really is such a simple and perfectly tax complaint set up

 

[Napster]

Its simple, just look at the crystal clear accounts :) You see SEL UK own about 70% of SUFC. SUFC is a subsidiary of SEL UK and SEL UK owe Roots Hall about £9million. SEL BVI is the off-shore subsidiary of SEL UK and Roots Hall owe SEL BVI about £7 million. All thees companies are connected with Martin Dawn PLC and Mezcal Investments (another off shore company who own 50% of SEL UK and their subsidiaries). Variously SEL UK, SUFC and Roots Hall have leveraged debt against their assets namely land and football club revenue around the Roots Hall estate. Some of those loans have been paid off (Sainsburys et al) other charges have recently been secured with Citizen Housing - controlled by Rons son :) Another name in the frame is Topland who are also very fond of the British Virgin Islands :)

You see it really is such a simple and perfectly tax complaint set up

you missed Elounda LLP who own Roots Hall Ltd now.

 

[NG_Shrimp]

Elounda of course! Another of Jnr Martins companies I think?!