Echo News EFL clubs given two proposals for start of next season

[BriggBlue]

I'd hope that as the players aren't on furlough they are improving their fitness levels, we may not have a manager but the players can still be set fitness work to do

 

[CaptainSmudger]

Not for us. No manager, no team and under an embargo

Spot on Tommy! Also there is a little matter creeping up on us very fast now, that nobody seems to be talking about, and that is ...............
HMRC hearing is rescheduled for July 22nd

 

[gazza]

If we don’t clear the embargo on the 22nd and we get another months delay then we will basically be behind most other teams in the league. Even with our good young players we will be battling relegation.

 

[kentblues]

There must have been a degree of confidence of clearing on 22nd as the club's brief declined an invitation to seek a longer extension. HMRC had also agreed to extension prior to hearing as they were aware of the proposed imminent funding.

So all looked promising but the question always is "has anything changed"? There is a huge development at hand but what is the agreed trigger point that releases funds? Hopefully that happens and we don't have what we had with Sainsbury's which was effectively Ron having them over a barrel just before the hearing- crudely you need to give me the money otherwise no club and no supermarket.

The good thing is that the partners in Citizen Housing could provide the necessary funds out of their petty cash box. Definitely squeaky bum time..

 

[BriggBlue]

I'd hope that as the players aren't on furlough they are improving their fitness levels, we may not have a manager but the players can still be set fitness work to do

There must have been a degree of confidence of clearing on 22nd as the club's brief declined an invitation to seek a longer extension. HMRC had also agreed to extension prior to hearing as they were aware of the proposed imminent funding.

So all looked promising but the question always is "has anything changed"? There is a huge development at hand but what is the agreed trigger point that releases funds? Hopefully that happens and we don't have what we had with Sainsbury's which was effectively Ron having them over a barrel just before the hearing- crudely you need to give me the money otherwise no club and no supermarket.

The good thing is that the partners in Citizen Housing could provide the necessary funds out of their petty cash box. Definitely squeaky bum time..

are we sure that the partners have that much floating around at the moment? there are a lot of large companies struggling so I wouldn't be surprised if cash was a bit tight.

 

[Spenser]

I'd hope that as the players aren't on furlough they are improving their fitness levels, we may not have a manager but the players can still be set fitness work to do


are we sure that the partners have that much floating around at the moment? there are a lot of large companies struggling so I wouldn't be surprised if cash was a bit tight.

I am firmly in the 'I will believe it when I see it' camp but if the Dellal family are genuinely involved this is small change for them even in the current economic situation.

 

[kentblues]

I am firmly in the 'I will believe it when I see it' camp but if the Dellal family are genuinely involved this is small change for them even in the current economic situation.

Well we know Citizen Housing are the developer for all this and two companies Citizen Housing LLP & Citizen Housing (Southend) are all set up and ready to go- ultimately 2 directors - Ron's son and one Alexander Dellal..

BTW (update for those that care) a charge is already in place for all monies loaned by Citizen Housing LLP to Citizen Housing (Southend) to be secured over all the latters assets including land. Citizen Housing LLP has 2 companies as Directors - but one company is Lenrose Housing with one director Ron's son, the other Allied Housing with one director Alexander Dellal..

Citizen Housing LLP that has a charge already in place over Citizen Housing (Southend) providing security for any loans advanced by Citizen Housing LLP has itself a charge giving security to Allied Housing (and not Lenrose Housing) over all the Citizen Housing LLP assets including land.

So in the end what that all means in summary is that ultimately Alexander Dellal's company has a charge (security) over all land (registered or unregistered, freehold or leasehold) and intellectual property now or in the future owned by Citizen Housing LLP & Citizen Housing (Southend). Because the money will be coming from the Dellals..

Sorry if repeating something that elsewhere but thought a recap might be welcome.

CITIZEN HOUSING (SOUTHEND) LIMITED filing history - Find and update company information - GOV.UK

CITIZEN HOUSING (SOUTHEND) LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity

beta.companieshouse.gov.uk

CITIZEN HOUSING LLP overview - Find and update company information - GOV.UK

CITIZEN HOUSING LLP - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity

beta.companieshouse.gov.uk

Allied Housing Limited - Company Profile - Endole

Allied Housing Limited is an active company located in London, City of London. View Allied Housing Limited profile, shareholders, contacts, financials, industry and description.

suite.endole.co.uk

Lenrose Housing Limited - Company Profile - Endole

Lenrose Housing Limited is an active company located in London, Greater London. View Lenrose Housing Limited profile, shareholders, contacts, financials, industry and description.

suite.endole.co.uk

 

[Tommy2holes]

Well we know Citizen Housing are the developer for all this and two companies Citizen Housing LLP & Citizen Housing (Southend) are all set up and ready to go- ultimately 2 directors - Ron's son and one Alexander Dellal..

BTW (update for those that care) a charge is already in place for all monies loaned by Citizen Housing LLP to Citizen Housing (Southend) to be secured over all the latters assets including land. Citizen Housing LLP has 2 companies as Directors - but one company is Lenrose Housing with one director Ron's son, the other Allied Housing with one director Alexander Dellal..

Citizen Housing LLP that has a charge already in place over Citizen Housing (Southend) providing security for any loans advanced by Citizen Housing LLP has itself a charge giving security to Allied Housing (and not Lenrose Housing) over all the Citizen Housing LLP assets including land.

So in the end what that all means in summary is that ultimately Alexander Dellal's company has a charge (security) over all land (registered or unregistered, freehold or leasehold) and intellectual property now or in the future owned by Citizen Housing LLP & Citizen Housing (Southend). Because the money will be coming from the Dellals..

Sorry if repeating something that elsewhere but thought a recap might be welcome.

CITIZEN HOUSING (SOUTHEND) LIMITED filing history - Find and update company information - GOV.UK

CITIZEN HOUSING (SOUTHEND) LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity

beta.companieshouse.gov.uk

CITIZEN HOUSING LLP overview - Find and update company information - GOV.UK

CITIZEN HOUSING LLP - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity

beta.companieshouse.gov.uk

Allied Housing Limited - Company Profile - Endole

Allied Housing Limited is an active company located in London, City of London. View Allied Housing Limited profile, shareholders, contacts, financials, industry and description.

suite.endole.co.uk

Lenrose Housing Limited - Company Profile - Endole

Lenrose Housing Limited is an active company located in London, Greater London. View Lenrose Housing Limited profile, shareholders, contacts, financials, industry and description.

suite.endole.co.uk

For those of us not in the know. Is this good or bad?

 

[BriggBlue]

Well we know Citizen Housing are the developer for all this and two companies Citizen Housing LLP & Citizen Housing (Southend) are all set up and ready to go- ultimately 2 directors - Ron's son and one Alexander Dellal..

BTW (update for those that care) a charge is already in place for all monies loaned by Citizen Housing LLP to Citizen Housing (Southend) to be secured over all the latters assets including land. Citizen Housing LLP has 2 companies as Directors - but one company is Lenrose Housing with one director Ron's son, the other Allied Housing with one director Alexander Dellal..

Citizen Housing LLP that has a charge already in place over Citizen Housing (Southend) providing security for any loans advanced by Citizen Housing LLP has itself a charge giving security to Allied Housing (and not Lenrose Housing) over all the Citizen Housing LLP assets including land.

So in the end what that all means in summary is that ultimately Alexander Dellal's company has a charge (security) over all land (registered or unregistered, freehold or leasehold) and intellectual property now or in the future owned by Citizen Housing LLP & Citizen Housing (Southend). Because the money will be coming from the Dellals..

Sorry if repeating something that elsewhere but thought a recap might be welcome.

CITIZEN HOUSING (SOUTHEND) LIMITED filing history - Find and update company information - GOV.UK

CITIZEN HOUSING (SOUTHEND) LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity

beta.companieshouse.gov.uk

CITIZEN HOUSING LLP overview - Find and update company information - GOV.UK

CITIZEN HOUSING LLP - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity

beta.companieshouse.gov.uk

Allied Housing Limited - Company Profile - Endole

Allied Housing Limited is an active company located in London, City of London. View Allied Housing Limited profile, shareholders, contacts, financials, industry and description.

suite.endole.co.uk

Lenrose Housing Limited - Company Profile - Endole

Lenrose Housing Limited is an active company located in London, Greater London. View Lenrose Housing Limited profile, shareholders, contacts, financials, industry and description.

suite.endole.co.uk

Just to check my understanding, the money is already available for the project and Dellal's company will be funding it all?

if that's the case we are a lot closer to this happening than I thought, it also seems good for the club because the project only exists if the club exists, or at the very least if the club goes under things will be delayed considerably.

 

[kentblues]

Just to check my understanding, the money is already available for the project and Dellal's company will be funding it all?

if that's the case we are a lot closer to this happening than I thought, it also seems good for the club because the project only exists if the club exists, or at the very least if the club goes under things will be delayed considerably.

Well the question was are the Dellal's involved. As the project is being owned by (the developer is) Citizen, and Citizen is Ron's son and Alexander Dellal, then the answer appears yes the Dellal's are the business partner on this. I believe Citizen is owned 50/50 between the two.

Further, the wider partners in all this being Homes England, SBC, the Dellals I don't think there is any doubt that the funds will/can be there either.

The real issue remains timing and the value of Ron's contribution is massively dependent on planning and the proposed contract with SBC.

The point about the charges is that they suggest that 1. its expected the Dellals will be putting hard £££/loans in not Ron (no surprise clearly, he is no doubt providing the land, RH and FF) and, more importantly 2. the means is there for the Dellals via Citizen to advance funds to Ron with the Dellals having security against those assets.

How the assets are put into Citizen from Ron, and how the are valued through the stages of agreeing contracts and planning to act as potential security no idea. But to your last point allowing the club to go into administration would introduce a risk into a £300m project the Martins and Dellals will likely be very keen to avoid. And there in lies the hope for the 22nd.

 

[Spenser]

Thanks for the info @kentblues much appreciated.
Just to be clear, my post was specifically to address the point that if it all goes wrong again it won't be because the current backers are short of a few bob.

 

[Jai]

I'd hope that as the players aren't on furlough they are improving their fitness levels, we may not have a manager but the players can still be set fitness work to do

Any self-respecting professional footballer will be keeping their fitness up regardless of their employment status. The issue will be that we won't be able to work on systems/ideas as a team. The more I think about it, the more I can't look beyond Fagan. He will be the one that is preparing the players for pre-season. He will be desperate to grasp this chance as a manager and he has the respect of the players.

If we are going to stay in the Football League, we are going to need a team that fights for each other and their manager, because we are currently well behind everyone else in the Football League in terms of quality.

 

[Richard Hearn]

Any self-respecting professional footballer will be keeping their fitness up regardless of their employment status. The issue will be that we won't be able to work on systems/ideas as a team. The more I think about it, the more I can't look beyond Fagan. He will be the one that is preparing the players for pre-season. He will be desperate to grasp this chance as a manager and he has the respect of the players.

If we are going to stay in the Football League, we are going to need a team that fights for each other and their manager, because we are currently well behind everyone else in the Football League in terms of quality.

Didn't have too many of them in the squad last season.