Latest Rumours SUFC up for sale

[Stuart W]

Fixtures released on the 15th are the Premier League. Our chances of being allowed to compete aren't great.

The EFL, despite starting a week earlier than the Premier League, come out a week later.

Not sure the NL has announced a date yet but wouldn't bet against it being 5th July.

What do you mean in your second sentence, or was it a joke ?

 

[Westcliff DGS]

West Ham game so Big Ray will be there

I know your joking re Ray, but surprised the big Kimura players who are involved in the deal are there if they are and if the deal is anywhere near as close as some have said

 

[rigsby]

Once the takeover goes through I’m sure this place is going to be empty, as it seems a lot of people solely post negative thoughts for the sake of it.

Half of them kid themselves its only Ron they hate but sadly they will quickly find others to target......Tom, Stan, Kev by the end of September and the new owners by Christmas.....With large slices of "We would never be here in the first place if it wasn't for Ron."

 

[cerbera45]

I get the worry, I really do. We are well trained to assume the worst where Ron Martin is involved. Personally I remain confident this will be wrapped up in days, not weeks (teehee). There is certainly the will for that on both sides. This side of the weekend even remains possible. It is a complicated deal though, especially regarding the legals, contracts and structure of a deal over an unbuilt stadium, so the potential for bumps in the road popping up suddenly and delaying things slightly is always there.

I fear the worst but (as always) hope for the best.

 

[londonblue]

Oh, I doubt the 'empty' bit very much. Zone members have degrees in everything and another hot topic or two will be taxing those cerebral thoroughbreds who will be posting away like gooduns! Negative thoughts go with the Zone.

I think I might start a poll based on how long it takes for someone to post something negative about the new owners.

 

[Shrimper]

I know your joking re Ray, but surprised the big Kimura players who are involved in the deal are there if they are and if the deal is anywhere near as close as some have said

If it's that close and with their solicitors then there is nothing else they can do

 

[Southminster Shrimper]

I won't believe it and be 100% satisfied until I see a statement from the club saying we have been taken over with the corner flag as it's picture.

 

[Jasrod]

Oh, I doubt the 'empty' bit very much. Zone members have degrees in everything and another hot topic or two will be taxing those cerebral thoroughbreds who will be posting away like gooduns! Negative thoughts go with the Zone.

But remember 2 negatives form a positive

 

[Yer Blues]

I think I might start a poll based on how long it takes for someone to post something negative about the new owners.

I've already got a "I'm losing faith in Kimura" thread ready to go in my outbox

 

[Callumturner22]

People itk do you reckon more chance of early next week then. Instead of being later this week unless there is a slim chance of later this week of completion

 

[Spaceman Spiff]

@gpism

I've already got a "I'm losing faith in Kimura" thread ready to go in my outbox

Keep the faith. Still getting positive whispers about it. Fingers crossed it might not be too long.

 

[WhiteNoise]

Get Jay Monahan in that negotiating room and this will be thrashed out by the end of the day.

 

[Yer Blues]

@gpism

Keep the faith. Still getting positive whispers about it. Fingers crossed it might not be too long.

It was a joke!

(I've don't nothing else today other than tell people it'll be alright!)

 

[Leeboy]

If it's that close and with their solicitors then there is nothing else they can do

exactly - Simon, Kris, Ray and the boys on a jolly in Prague watching the Spammers whilst the solicitors are bashing it out with Ron (oo-er!)

 

[Gt Yarmouth Shrimper]

I think I might start a poll based on how long it takes for someone to post something negative about the new owners.

I'll start with 7 minutes or 23 posts, whichever comes soonest!

 

[Mick]

What do you mean in your second sentence, or was it a joke ?

Previous poster was speculating on our involvement in fixtures coming out on 15th June. Probably sarcasm rather than joke.

 

[Yorkshire Blue]

Don’t disagree but a key difference is that businesses buy and sell all the time, where as the general public might only complete one or two house sales/purchases in their lifetime. A business transaction might be incredible complex but you typically have competent and experienced business people* arranging it, avoiding the frustrating and minor things that can jeopardise a house purchase.

*even Ron for all his faults knows how to seal a deal

The delays in house purchases are rarely down to the buyer or seller though (who are both usually represented by experienced conveyancers anyway). Delays are invariably from third parties less invested in the transaction: the local council responding on searches, the lenders’ approval, a surveyor’s report, awaiting landlord’s consent or management company accounts/minutes, proof of insurance from the insurers, a related transaction that needs to go through to finance it, the land registry updating the registry, getting a copy of a safety certificate etc.

The same is true of commercial transactions - whether property or M&A - but there’s usually more things to check/ducks to be lined up in a row.

 

[Murkey_Mouse]

Remember guys, last week, we was fews minutes from getting thrown out of NL, because of Ron. Now Ron Martin is not in strong position to keep delaying and fcuking things up. Apparently his family’s want him to get the deal done quickly and over with it.

 

[Yer Blues]

Remember guys, last week, we was fews minutes from getting thrown out of NL, because of Ron. Now Ron Martin is not in strong position to keep delaying and fcuking things up. Apparently his family’s want him to get the deal done quickly and over with it.

How do you know its him delaying it?

Isn't it possible that selling something so complex might take Time and involve things most of us don't understand?

 

[davgl]

Purchasing any business is generally a very slow process. In some cases, it can take years of preparation and updates to get deals over the line. I have been in this situation and it is one of the most tiresome and stressful situations. From my experience, this is how things generally go.

In terms of this takeover a business that is currently in distress, means you have to consider many layers of complexity, but you generally would think that the “BUYER” would have many conditions to check.

Remember they would be liable for anything moving forward.
When buying a business out of administration is it sometimes actually easier as you dealing directly with the administrator, not the outgoing club directors. You would generally buy the assets only without the trading name, meaning they would have fewer liabilities associated with anything the previous owners did.

However, If they are purchasing the club (business) as a whole and not just the assets, i.e. Southend United Football Club Ltd, then there would be lots of liabilities and this is the reason it will take a while to go through.

1 - The buyers - They will have their own legal teams who will be looking for things to pick out. A club (business) like Southend may have many issues that need to be addressed before a takeover can be complete.

2 - The sellers - The current owners will also have their own legal teams, doing the same with anything that has been sent to them or conditions entered into any bids.

3 - Funders - Unless the money is coming directly from the buyer's back pockets, the funders of any deal will also have their own legal teams who will have conditions set on lending the money, (just like a mortgage when buying a house)

So you can go around for days in circles over the smallest of matters. Depending on the solicitors being used (compared to some transactions, this may not be top of their agenda, i.e. think of the club turnover, compared to some companies in London etc) They charge an awful lot per hour. So the bills can rack up.

This unfortunately is the same for anything in life, so I wouldn't get too stressed if it's come this far then that can only be a good thing. As others have said here, the issues surrounding the current and future stadiums will have a huge impact on a deal as they are funding opportunities for all involved. Keep the faith.