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chrisblore

President
Joined
Dec 28, 2004
Messages
4,925
Location
Boreham
From the OS

The board of Southend United Football Club has released the following statement this evening:

On Monday morning the Board received an offer through a local solicitor on behalf of a number of unnamed investors.

The Board is always prepared to consider proposals that are in the best interests of the Club.

After an exchange of correspondence it became clear that such a transaction could not be structured in the time available. In any event our information is that the proposed structure would still result in a 10 point deduction. The Board's advice to its major shareholder was that the resources of the Club continue to be focused 100 per cent on the other alternatives already being pursued.
 

Kent Shrimper

Mike Reid
Joined
May 27, 2004
Messages
6,910
Location
Sevenoaks
http://www.southendunited.co.uk/page/NewsDetail/0,,10444~1846043,00.html

BOARD STATEMENT
Posted on: Tue 03 Nov 2009

The board of Southend United Football Club has released the following statement this evening:

On Monday morning the Board received an offer through a local solicitor on behalf of a number of unnamed investors.

The Board is always prepared to consider proposals that are in the best interests of the Club.

After an exchange of correspondence it became clear that such a transaction could not be structured in the time available. In any event our information is that the proposed structure would still result in a 10 point deduction. The Board's advice to its major shareholder was that the resources of the Club continue to be focused 100 per cent on the other alternatives already being pursued.
 

Cricko

Guest
And in English Ron said to himself as the major shareholder, bollocks to that.
 

manor15

Super Moderator⭐
Staff member
Joined
Aug 13, 2008
Messages
8,334
So it's a no to the consortium.
A no to Ron's plan to have the money.
Administration here we come.
Possible deal with consortium while in administration?
 

jackspratt

Youth Team
Joined
Jan 18, 2008
Messages
192
Come on Ron tell us wot ur gonna do now ?
10 point deduction
Administration
How sad
 

McNasty

Member
Joined
Oct 23, 2003
Messages
16,197
Location
Otley, West Yorks
In any event our information is that the proposed structure would still result in a 10 point deduction.

Still ? Ron must be resigned to losing the points anyway.
 
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