Decision Delayed

[grassroots]

....and so the saga goes on! Brinkmanship or what!?

Now that Mr Martin has nearly had his (and the Club's) fingers burnt, I hope he settles down and has a shuffle of his priorities. We have been saying for a couple of years that he's taken his eye off the ball in his blinkered persuit of FF and 'the big payday' and how right that was!

Maybe he's going in with 'the Consortium' and they've stumped up the cash, cos I cant see where £2.1 has suddenly appeared from, when 1/3 of that sum couldnt be found last week.

 

[Jam_Man]

did ron not categorically say in another statement that the sainsburys money would not be involved in clearing this debt?!

I didnt see that, but seeing how many posts and whatever recently not surprising if I missed it!

 

[Herb13]

did ron not categorically say in another statement that the sainsburys money would not be involved in clearing this debt?!

I can not see why the sainsbury's money should be going to the club. It's going to the owners of RH. Just happens that he also runs SUFC.

He's suddenly come up with 2.5 mil at the last moment Knight in shinning armour I think not!
Keep SUFC going so the move goes ahead to FF money in the bank for our Ron, Could be a new partner with a percentage in the relocation

 

[Boreham Shrimper]

Is anyone else constantly refreshing the OS to see if the full statement is up? Looks as though Ron may be in the boozer over the road from the High Court to celebrate :dizzy:

 

[Smiffy]

If he has loaned the money from somwhere, then this scares the hell out of me. Taking a loan to pay off debts is a recipe for disaster. Unless he has spoken to Ocean Finance and "consolidated into one easy monthly repayment" then great...

In all seriousness, I hope its from an investor who is doing just that. Or from the Sainsbury's money that is due.

 

[Jam_Man]

I can not see why the sainsbury's money should be going to the club. It's going to the owners of RH. Just happens that he also runs SUFC.

He's suddenly come up with 2.5 mil at the last moment Knight in shinning armour I think not!
Keep SUFC going so the move goes ahead to FF money in the bank for our Ron, Could be a new partner with a percentage in the relocation

Using that argument you could ask why his company have been bailing the club out for the last decade...

 

[Herb13]

Using that argument you could ask why his company have been bailing the club out for the last decade...

Bailing the club out to a tune of -£2.5 mil. He's done well

 

[Smiffy]

What is The Shrimpers Trust take on this?

 

[Boreham Shrimper]

Bailing the club out to a tune of -£2.5 mil. He's done well

To be fair, if he hadn't bailed us out we would have sunk long ago. He has to a large extent been the victim of bad luck - delays in planning permission to Fossetts Farm, credit crunch etc. - and has also personally taken a big financial hit with his property firms. I agree that the tax bill should obviously have been paid by now and that there is no escaping that but it's not entirely his fault that it hasn't been.

 

[Jam_Man]

He has been bailing the club out for years....

 

[SARF]

looks like ron will get through by the skin of his teeth.. give it three weeks and we will all be moaning about the lack of a big signing again..

 

[Holy Joe]

Just back from the court, this is my take, the prosecutor was chatting at length with Ron Martin and the legal team 5 mins b4 the hearing. Then when Southend's case was called, the prosecutor said that Southend had the finance to pay the 2.1m in place. This would be paid in full 2.1m on Friday. This money could come from a number of sources. Ron didnt look too stressed and there were smiles and hand shakes all round out side of the court. Things could of gone a lot worse. But from the way the tax man looked he must of seen evidence of Southend making this payment or he would of pushed ahead with the winding up order.

Doesn't sound like a done deal - more squeaky bum time ahead?

 

[Jam_Man]

Doesn't sound like a done deal - more squeaky bum time ahead?

Dont think he would have allowed adjournment if we didnt have proof we could pay.

 

[philtalkin]

Doesn't sound like a done deal - more squeaky bum time ahead?

Is that a clue? Are the Pet Shop Boys part of the Consortium?

 

[Herb13]

Dont think he would have allowed adjournment if we didnt have proof we could pay.

Come on Proof of payment and actually handing over the money are two different things -
At least we will be in the second round of the FA Cup by monday at the court hearing

 

[philtalkin]

Dont think he would have allowed adjournment if we didnt have proof we could pay.

'It ain't over till the fat lady sings'.

Is Alison Moyet involved in the consortium?

 

[Austin the Shrimper]

I think this sounds like pretty good news, you never know who is to say that they have only found 2.1mill, Maybe someone has come in with a bit for some signings as well. Maybe a little optimistic but you never know??

 

[canveyshrimper]

Come on Proof of payment and actually handing over the money are two different things -
At least we will be in the second round of the FA Cup by monday at the court hearing

If we beat Gillingham that is (or draw).

 

[TJC]

He lied about the financial state of the club,

Did he lie or just not highlight the fact? We knew there was a £690000 debt with HMRC and I'm sure if we went through the acconts, it would show somewhere in there?
I think he maybe guilty of sticking his head in the sand, but not sure he has actually lied as such. Anyway, I guess we are splitting hairs a bit ... just think lie is a bit of a strong term.

 

[Yorkshire Blue]

Look this is probably completely stupid but it's what comes of having a physical job downstairs which allows the brain (what cells remain) to reflect. SO............we have heard about the Consortium's offer for little over 24 hours, when they have made it public. Seems to me strange that they have been aware of our financial problems for a while and have only moved at the very last moment.What if they had communicated their offer to Ron and the board weeks or months ago and have been in negociations for a while? As I say, probably rubbish..........but it would explain one or two things.

I think I read somewhere that the a couple of members of the consortium had approached RM last year but their approach had been rejected.

It's also surely incredibly harsh to suggest that the consortium were sitting idly by twiddling their thumbs. These things take time to put together and I'm sure there would have been plenty going on behind the scenes before going public.

I'd be incredibly surprised if they were behind RM's sudden ability to produce the money, seeing as RM has publicly rejected their help.