Club Ownership

[Spaceman Spiff]

I had a very enjoyable drink with Matt the Shrimp in one of Greenwich's finer watering holes last night, at which many subjects were discussed - players, Tilly, hopes for this season etc.

The one subject which raised the most passions was the one regarding ownership of the club - specifically the Delancey shareholding which we are led to believe Ron has made a bid for.

Now, looking at the thread on the Fossets Farm board (and note this isnt a pure Fossetts Farm thread, hence its appearance here on the SUFC board), Napster mentioned Ron and Delancey had reached something of an impasse.

Does anyone know what the current state of play is? Matt and I never quite reached agreement on what Ron was trying to buy exactly (although looking at the previous thread it appears to be SEL - including Roots Hall Ltd which holds the clubs assets - rather than just SUFC) and how much he would need to pay.

One interesting development is Ron's rise to the official status of Chairman - clearly Delancy didn't have an objection to that any more, so is Ron winning the battle of wills?

Can we possibly hope for a breakthrough soon?

I feel that unless and until Ron can come to an agreement that will finally remove the po-faced cretin Wagman and his flying monkeys from the scene, our club is doomed to tread water at Roots Hall....

 

[londonblue]

Quote[/b] (Spaceman Spiff @ July 19 2005,15:45)]I had a very enjoyable drink with Matt the Shrimp in one of Greenwich's finer watering holes last night, at which many subjects were discussed - players, Tilly, hopes for this season etc.

The one subject which raised the most passions was the one regarding ownership of the club - specifically the Delancey shareholding which we are led to believe Ron has made a bid for.

Now, looking at the thread on the Fossets Farm board (and note this isnt a pure Fossetts Farm thread, hence its appearance here on the SUFC board), Napster mentioned Ron and Delancey had reached something of an impasse.

Does anyone know what the current state of play is? Matt and I never quite reached agreement on what Ron was trying to buy exactly (although looking at the previous thread it appears to be SEL - including Roots Hall Ltd which holds the clubs assets - rather than just SUFC) and how much he would need to pay.

One interesting development is Ron's rise to the official status of Chairman - clearly Delancy didn't have an objection to that any more, so is Ron winning the battle of wills?

Can we possibly hope for a breakthrough soon?

I feel that unless and until Ron can come to an agreement that will finally remove the po-faced cretin Wagman and his flying monkeys from the scene, our club is doomed to tread water at Roots Hall....

Which comes back to the question I asked a few weeks ago:-

What happens if Ron can't/doesn't buy Delancey out?

No-one had an answer then, and it seems no-one has now....

 

[Matt the Shrimp]

Quote[/b] (Spaceman Spiff @ July 19 2005,15:45)]I had a very enjoyable drink with Matt the Shrimp in one of Greenwich's finer watering holes last night, at which many subjects were discussed - players, Tilly, hopes for this season etc.

Twas a v. enjoyable drink, one at which we established beyond doubt that:

(a) I was right; and
(b) you are a plank...

Only kiddin'.  Seriously, Spiff raises questions which, I hope, someone might be able to answer.

Matt

 

[Matt the Shrimp]

Quote[/b] (londonblue @ July 19 2005,16:19)]What happens if Ron can't/doesn't buy Delancey out?

We shuffle along in limbo...?

 

[Song of the South Upper]

Quote[/b] (Matt the Shrimp @ July 19 2005,15:20)]

Quote[/b] (londonblue @ July 19 2005,16:19)]What happens if Ron can't/doesn't buy Delancey out?

We shuffle along in limbo...?

Not for too long I hope, I'd do my back in...

When All at Sea interviewed Ron he said he'd planned to have bought Delancey out within the month, and he seemed really confident of doing so. With still nothing mentioned regarding this, I agree, it is worrying.

Could be a few things...Have Delancey upped the amount they want to be bought out? Is Ron holding fire until Delancey become worried he's not interested and so lower the price?

Ron seems to be pretty adamant about the move, so I would imagine it would take place eventually...I just hope there's a valid reason we're being kept in the dark.

 

[TrueBlue]

this can't go on forever somthing has to be done!

 

[Xàbia Shrimper]

Quote[/b] (Song of the South Upper @ July 19 2005,17:48)]When All at Sea interviewed Ron he said he'd planned to have bought Delancey out within the month, and he seemed really confident of doing so.

File that comment with Uncle Ron claiming that we would be in a new shiny stadium by 2003 closely followed by a second comment that we would be in a new shiny stadium by 2006.

Utter b******s ...

WS

 

[Spaceman Spiff]

Quote[/b] (Xàbia Shrimper @ July 19 2005,17:08)]

Quote[/b] (Song of the South Upper @ July 19 2005,17:48)]When All at Sea interviewed Ron he said he'd planned to have bought Delancey out within the month, and he seemed really confident of doing so.

File that comment with Uncle Ron claiming that we would be in a new shiny stadium by 2003 closely followed by a second comment that we would be in a new shiny stadium by 2006.

Utter b******s ...

WS

True... but I do feel that biggest villain of this piece is Wagman, who by all accounts comes across as one of the least co-operative people since the knights who say "Ni!"

 

[Interpol Shrimper]

Quote[/b] (Spaceman Spiff @ July 19 2005,17:17)]True... but I do feel that biggest villain of this piece is Wagman, who by all accounts comes across as one of the least co-operative people since the knights who say "Ni!"

That analogy has to make this the Post of the Month

 

[Hockley_Blues]

Quote[/b] (Spaceman Spiff @ July 19 2005,17:17)]True... but I do feel that biggest villain of this piece is Wagman, who by all accounts comes across as one of the least co-operative people since the knights who say "Ni!"

In which case, buy him a shrubbery then everyone's a winner

 

[overseas shrimper]

Quote[/b] (Spaceman Spiff @ July 19 2005,18:17)]

Quote[/b] (Xàbia Shrimper @ July 19 2005,17:08)]

Quote[/b] (Song of the South Upper @ July 19 2005,17:48)]When All at Sea interviewed Ron he said he'd planned to have bought Delancey out within the month, and he seemed really confident of doing so.

File that comment with Uncle Ron claiming that we would be in a new shiny stadium by 2003 closely followed by a second comment that we would be in a new shiny stadium by 2006.

Utter b******s ...

WS

True... but I do feel that biggest villain of this piece is Wagman, who by all accounts comes across as one of the least co-operative people since the knights who say "Ni!"

Maybe the hold up is that Wagman has insisted on payment in shrubberies.

 

[AmericanShrimper]

or that Fossetts Farm be built with only a herring...

 

[Hong Kong Blue]

Martin Dawn want to buy out Delancey's stake in SEL. Delancey will be happy to sell for the right price.

So why hasn't it happened? Almost certainly its because Ron Martin hasn't got the cash to do it.

Its possible that they are still haggling over the price, but I expect Delancey just want out. They are in this deal as financiers, and the money currently invested in SEL could be more profitably put to use elsewhere.

The more interesting question is whether Fossetts Farm is all ready to go but Ron Martin is holding back the plans until he has secured the ownership of SEL.

 

[Hong Kong Blue]

Quote[/b] (Spaceman Spiff @ July 19 2005,15:45)]I feel that unless and until Ron can come to an agreement that will finally remove the po-faced cretin Wagman and his flying monkeys from the scene, our club is doomed to tread water at Roots Hall....

What have you got against Delancey?

Its their money which kept this club going.

 

[Matt the Shrimp]

I should have invited you along last night, Matt... that was pretty much what I was saying to Spiff...

 

[Matt the Shrimp]

These are only my thoughts, but:

Quote[/b] (Hong Kong Blue @ July 19 2005,17:50)]Martin Dawn want to buy out Delancey's stake in SEL. Delancey will be happy to sell for the right price. So why hasn't it happened? Almost certainly its because Ron Martin hasn't got the cash to do it.

Yes, almost certainly.  What is that figure?  At a complete guess, I think it must be around £3-4m.  Anything less and, surely, our Bentley-owning Chairman would have had the liquid to pay them off?

Quote[/b] (Hong Kong Blue @ July 19 2005,17:50)]It's possible that they are still haggling over the price, but I expect Delancey just want out. They are in this deal as financiers, and the money currently invested in SEL could be more profitably put to use elsewhere.

I get the feeling that there is a risk - possibly small, but possibly there nonetheless - that Delancey still want a piece of the FF pie, and won't remove themselves from the picture until they're sure that they can't / won't get a part of it.

Quote[/b] (Hong Kong Blue @ July 19 2005,17:50)]The more interesting question is whether Fossetts Farm is all ready to go but Ron Martin is holding back the plans until he has secured the ownership of SEL.

My feeling on this is "almost certainly" - didn't we see designs for FF a while ago, now?  What about the Lansbury "option" which was excersiable upon them being granted unconditional planning permission?  It was a 6-month option to purchase the additional land at the FF site, but an option that expired some time last year.  Presumably, then, that Option has been exercised - and Ron is now sitting on land.  That land is no good to him unless he starts developing it; so surely he must be ready to go, but is sitting on things until Delancey are out of the picture.

The only other logical alternative doesn't really bear thinking about - namely, that this is all bulls**t, that we don't have any plans, that we didn't exercise the Option (in which case Lansbury have us over a barrell) and that FF is utterly pie in the sky.

In that situation, by buying out Delancey Ron will simply be contemplating the purchase of a whole bunch of debt with no obvious way to recoup it... and that doesn't sound like a very Ron thing to do.

And that can only mean that nothing is going to change for the foreseeable future, doesn't it?

Matt

 

[Spaceman Spiff]

Quote[/b] (Matt the Shrimp @ July 19 2005,18:16)]I should have invited you along last night, Matt... that was pretty much what I was saying to Spiff...

You told me nothing of the sort!

I seem to remember your main comment relating to the relative merits of Delancy's involvement as negative... you mentioned a particular time when you had an hour long chat to Mr Wagman and an abbreviated version of your impression of the man would be "David Brent"!