Carl Reader (Seventy7 Ventures) - Want to acquire the club

[TJC]

Timing could be key. Ron must be nearing the end game as the stadium should start this year. While that is a realistic proposition, Ron isn't going to step aside and let someone else take the glory/profits. However, once its started, perhaps he might entertain an exit plan and ride off into the sunset feeling the hero. Conversely if it derails again, then it might be time for him to finally give up and bail out.
Either way, I can't see Ron entertaining an exit in the next 12 months, but if Carl is serious, he will hopefully be there when the time comes.

It is a very valid question though to ensure any future owner has the resources to not only keep us afloat, but to also take us back the where we belong. To be honest, its a mugs game and if he were my friend, I'd have to tell him to run for the hills. Even small clubs like us can suck anyone's pockets dry!
It would be great to have a 'fan first, owner second' owner, but its a sure fire way to make huge losses!

 

[Supa Shrimpa]

1) Can this bloke really realistically afford to buy us and, more importantly, run us month to month with our massive losses (which most clubs have)?

2)If he was buying the club would he be doing it as part of a consortium or on his own?

If the answer to 1 is a resounding yes then it would be an interesting thing to watch develop.

From the comments no one seems to be answering the above questions and I fear the usual Ron out fans would take anything that come their way just to see Ron gone rather than what is right for the club. Like it or not Ron has kept the club going albeit very close to the edge at times but I wouldn’t want the next person to come in to be someone who would run the club similarly because they don’t have instant access to the funds needed on a monthly basis and over the quieter summer period.

I still believe that Ron won’t sell until this whole project is completed and I think most people in his shoes would do exactly the same thing.

1) But can Ron realistically afford to run us month to month ?

 

[Supa Shrimpa]

Timing could be key. Ron must be nearing the end game as the stadium should start this year. While that is a realistic proposition, Ron isn't going to step aside and let someone else take the glory/profits. However, once its started, perhaps he might entertain an exit plan and ride off into the sunset feeling the hero. Conversely if it derails again, then it might be time for him to finally give up and bail out.
Either way, I can't see Ron entertaining an exit in the next 12 months, but if Carl is serious, he will hopefully be there when the time comes.

It is a very valid question though to ensure any future owner has the resources to not only keep us afloat, but to also take us back the where we belong. To be honest, its a mugs game and if he were my friend, I'd have to tell him to run for the hills. Even small clubs like us can suck anyone's pockets dry!
It would be great to have a 'fan first, owner second' owner, but its a sure fire way to make huge losses!

I can only assume they have some big backers, because on the face of it I can't see much wealth there. Thing is, Ron has been saying nobody wants to buy us, but here we have proof that someone has approached him and he's not responded. How many others are out there ?

 

[TJC]

I can only assume they have some big backers, because on the face of it I can't see much wealth there. Thing is, Ron has been saying nobody wants to buy us, but here we have proof that someone has approached him and he's not responded. How many others are out there ?

This is probably why I'm best not going into business, but I can only see backers being interested if there is a profit in it. Fossetts Farm development probably is that crock of gold at the end of the rainbow. No-one in their right mind would want the club alone as an investment. Same applies to Ron; but what happens when that profit is realised? Then what? As a club we hold no value what so ever. Vic was trying to reach the same pot of gold which then attracted Ron when Vic gave up.
I think we are only attractive while Fossetts Farm has yet to be monetised.

 

[danbowen]

1) But can Ron realistically afford to run us month to month ?

So going from one person who can’t afford to keep us going (but has done funnily enough) to someone else who no one knows can is a good thing? If we are going to eventually get a new owner we need to make sure it is someone who definitely has the funds to run it properly. Absolutely no point going from Ron to someone else who we would live on the breadline every month.

 

[Supa Shrimpa]

So going from one person who can’t afford to keep us going (but has done funnily enough) to someone else who no one knows can is a good thing? If we are going to eventually get a new owner we need to make sure it is someone who definitely has the funds to run it properly. Absolutely no point going from Ron to someone else who we would live on the breadline every month.

I agree with what you're saying (due diligence would have to be carried out), but I think Ron should consider the proposal

 

[TJC]

I agree with what you're saying (due diligence would have to be carried out), but I think Ron should consider the proposal

But why would he? He's spent 20+ years getting to this point, and it finally looks like something might actually happen. I would suggest this is the most unlikely time Ron would consider selling during his whole tenure.

 

[Supa Shrimpa]

But why would he? He's spent 20+ years getting to this point, and it finally looks like something might actually happen. I would suggest this is the most unlikely time Ron would consider selling during his whole tenure.

I'm not saying, accept it. Just consider it. What if it turned out to be a good deal for all parties ?

 

[North Banker]

What does a good deal look like for Ron at this point?

He is (at least in his eyes) on the cusp of completing a major project he has been invested in for decades, which will secure the position of the football club he loves and no doubt put him in a better financial position, at the very least letting him recoup some of the significant sums of money he's sunk into the club. A good deal would surely have to compensate him not only for the money he's put in but also the money he'd be set to get out, and an amount of personal pride too.

He should look at it, of course, but as @TJC says it's hard to see a scenario - in lieu of any Saudi billionaires - where he considers it a deal worth taking.

 

[kentblues]

I have no doubt Ron will sell at the right time (stadium up and running/completed) and there will be a number of interested parties at that time including, I hope, Carl R.

Reality is on the development Ron will not even consider selling and introducing delay and uncertainty at this point. And a point being missed is its not even necessarily in Rons gift. This whole project is jointly with the Dellals, hardened property developers. And the housing is already sold via a lease to ownership arrangement with SBC. If the timing is now because the overseas pension fund want to get involved/get a return from the non-football element there is zero chance.

If however the pension fund wants to wait and invest in a NL/EFL2 football club (not sure what pension fund would see that as a good opportunity to drive returns for their members) then that opportunity will come.

 

[Medway Blue]

I have no doubt Ron will sell at the right time (stadium up and running/completed) and there will be a number of interested parties at that time including, I hope, Carl R.

Reality is on the development Ron will not even consider selling and introducing delay and uncertainty at this point. And a point being missed is its not even necessarily in Rons gift. This whole project is jointly with the Dellals, hardened property developers. And the housing is already sold via a lease to ownership arrangement with SBC. If the timing is now because the overseas pension fund want to get involved/get a return from the non-football element there is zero chance.

If however the pension fund wants to wait and invest in a NL/EFL2 football club (not sure what pension fund would see that as a good opportunity to drive returns for their members) then that opportunity will come.

The time is right when the build starts. There are creative and acceptable ways to legally ensure that Ron Martin still gets his benefits if he sells the club/development before completion. All well and good saying "the right time is when the stadium is finished", but there's too much water under the bridge. The club needs a fresh start, fresh leadership and a reset of its reputation now.......not in 3-4 years' time.

 

[kentblues]

The time is right when the build starts. There are creative and acceptable ways to legally ensure that Ron Martin still gets his benefits if he sells the club/development before completion. All well and good saying "the right time is when the stadium is finished", but there's too much water under the bridge. The club needs a fresh start, fresh leadership and a reset of its reputation now.......not in 3-4 years' time.

Regrettably there is zero chance of selling the development now so if thats what the pension fund is really after, and hence the real reason for the timing, this is a non starter for the reasons already given.

Re the club it depends on your key driver. If from one side we just want to see the back of Ron, and nothing else matters, then yes now might seem like the time. But.....the club will be at its most attractive to investors (and no one party will just get a free run) when the stadium is built. That may also mean that this is the best time for us in that it will ensure the best possible new owner from a wider process, and an owner who is just interested in the club (not a lucrative associated housing development).

I look forward to new owners that have deep pockets and the club at heart- its just my head tells me that the best time to sell is when the stadium is complete (or at least the three sides are) and that is also the best time to buy.

 

[Rob1920]

I don't know how I feel about this. Feels a bit wrong for someone to be coming on here doing Q&A's about them buying the club etc, before they've even entered into negotiations with RM. To my way of thinking, this is the sort of thing we should find out about once definite interest has been established on both sides. It feels unprofessional to me to be canvassing fans before proper negotiations are well under way. Something like this could have a destabilising effect just when we seem to finally be turning the corner as a club. also, how many clubs have sold out to a new owner with access to supposed deep pockets only for them to end up in a worse place. Orient, Derby, Swindon, Oldham etc etc. RM has shown he won't bow to fan pressure so coming on here winding everyone up into a frenzy won't help their cause. Not saying RM is a great owner, or that Carl isn't the genuine article, I just think there's ways to go about things and this doesn't feel like the right way to me.

I'll get my tin hat

 

[pottster]

Ron will sell eventually. But what he will sell maybe not what this group have in mind. I would imagine he will sell the club but just the club only and with no assets. Hardly enticing for an investor

 

[Medway Blue]

I don't know how I feel about this. Feels a bit wrong for someone to be coming on here doing Q&A's about them buying the club etc, before they've even entered into negotiations with RM. To my way of thinking, this is the sort of thing we should find out about once definite interest has been established on both sides. It feels unprofessional to me to be canvassing fans before proper negotiations are well under way. Something like this could have a destabilising effect just when we seem to finally be turning the corner as a club. also, how many clubs have sold out to a new owner with access to supposed deep pockets only for them to end up in a worse place. Orient, Derby, Swindon, Oldham etc etc. RM has shown he won't bow to fan pressure so coming on here winding everyone up into a frenzy won't help their cause. Not saying RM is a great owner, or that Carl isn't the genuine article, I just think there's ways to go about things and this doesn't feel like the right way to me.

I'll get my tin hat

As has been said many times, he's tried to go about it in the "right" way and has been ignored. If going public and informing fans of his intentions gets RM to engage then all good in my book.

 

[Napster]

Ron will sell eventually. But what he will sell maybe not what this group have in mind. I would imagine he will sell the club but just the club only and with no assets. Hardly enticing for an investor

I’m sure they’ve done due diligence

 

[kentblues]

I’m sure they’ve done due diligence

I’d be worried if they thought they had done due diligence when they aren’t even engaged. Rather I would expect that they, or any other investor, would do due digence…

 

[pottster]

I’m sure they’ve done due diligence

Due diligence on what though? The club isnt for sale. There is nothing to buy. That may change though with the economy tanking, interst rates possibly rising to 3.5% and housing market imploding. So ron may want to sell in the future. Maybe these incedyirs know something we dont?

 

[Napster]

Due diligence on what though? The club isnt for sale. There is nothing to buy. That may change though with the economy tanking, interst rates possibly rising to 3.5% and housing market imploding. So ron may want to sell in the future. Maybe these incedyirs know something we dont?

Everything has a price.

 

[mattytheshrimper]

Where's all the 'who's going to buy the club' brigade? Whether anything ever happens with this, it just shows that there are people out there who are at least interested. Unsurprisingly Ron has always said no one's ever been interested in the club even though I think there has been two or three other groups who have come out in the last couple of decades showing their interest. This just yet again proves Ron cannot be trusted as far as you can throw him. People just need to not believe anything he says. I'm amazed that we were under an embargo just a couple of weeks ago that was completely hidden from us and yet there's barely been a grumble. It just shows the state we're in as a fan base, we expected it to happen and it did to no surprise at all. Ron's just the luckiest chairman to get away with it time and time again. Dare we talk about a protest, most fans get upset trying to stick up their club, not Rons.

Worryingly, unless I'm mistaken Stan doesn't seem involved anymore and the general communication between club and fans in non existent again. Apologies if that's not entirely correct, I have given myself a little summer break from the heartache of SUFC.