Pre-Match Thread HMRC v SUFC - FINAL hearing on 1st March. DISMISSED

[Danshrimper]

This can be read two ways. The bridging finance will be through within the next four weeks and 6 days or alternatively the club has been wound up so RM will not have to worry about the tax.

If it is the former, let's hope that it is not the few works mentioned in October which has turned into a few months.

Could also be read as it will be someone else’s problem, not Ron’s.

 

[BedfordShrimper]

Could also be read as it will be someone else’s problem, not Ron’s.

Holy crap, reading the message again, it can easily be saying that! Coupling this with what Stan said recently, I am going to go ahead and jump to as many positive conclusions as I can.

 

[Supa Shrimpa]

Based on what I have been told this afternoon the tax bill may not be a problem for Ron in the next weeks.

Could you elaborate on that, please ?

 

[OldWilliam]

Could you elaborate on that, please ?

Of course he can’t

 

[Supa Shrimpa]

Of course he can’t

he / she might be able to !

 

[Flinty]

Could also be read as it will be someone else’s problem, not Ron’s.

That’s how I’m reading those comments …not Rons problem anymore but someone else’s

 

[Loan Shark Linda]

So we dont have the loan and have 34 days for Ron to get the loan. Next week will be 27. We just have to hope and be positive he will get it. I reckon 3 or 4 days before we go bust we will get it.If we go bust lets just enjoy us being in existance at the monent. Protesting wont help us get a loan any quicker.

I just hope Ron has enough for the next tax bill this year. I dont want to get this close again!

 

[Smiffy]

As I see it there’s four options. Let’s hope it’s 1 or 2. Personally I’d prefer option 2.

1. Bridging Loan lands.

2. Outside investment arrives for a slice of the FF/RH development.

3. Administration.

4. Liquidation.

 

[Flinty]

I suppose it could be split FF and the club to 1 party and Ron retains the Roots Hall site …not sure what brings the most value in profit…I would guess RH

 

[Barry.C]

Interesting that West Brom have pulled off a massive £20m bridging? loan!?

Stuart Andrew’s ( Govt Sec for Sport) comments came after Conservative MP for West Bromwich East Nicola Richards said West Brom fans are “deeply concerned with the actions of the club’s ownership”, adding: “The owner took a £5million loan from the club to fund his other business. Money that is still yet to be repaid.

“The club has now taken a high-interest loan of £20m to fund day-to-day business secured against the club’s name and stadium. Will my right honourable friend bring forward the Government’s response to the fan-led review and introduce the regulator to give fans the power to stop owners abusing the club’s assets in this way and to penalise owners whose business decisions are not in the best interest of the football club?”

 

[pottster]

As I see it there’s four options. Let’s hope it’s 1 or 2. Personally I’d prefer option 2.

1. Bridging Loan lands.

2. Outside investment arrives for a slice of the FF/RH development.

3. Administration.

4. Liquidation.

You missed out new ownership

 

[Barry.C]

White paper possibly out in next fortnight re Govt review of football and regulator etc

 

[TJC]

Could also be read as it will be someone else’s problem, not Ron’s.

That's how I took it. I got a gut feeling with some comments on here and Stans comments, some big news isn't far off, and hopefully not the news we are all fearing .
Disclaimer: I know nothing and just a hunch based on comments on here.

 

[rlb999]

Annoying how Scunthorpe get bought gills get bought and we’re stuck with ron let’s be honest no one can afford us :(

And that's precisely the point - there is too much debt for someone to buy us out - so the calls for Ron to 'sell' are completely fanciful - no sane person would take us on until the debt is cleared and the debt won't be cleared until the new stadium and associated development around it, actually happens. Those are the realities of the situation.

As such we remain in bed with Ron for the foreseeable future. He wants to pay the taxman just as much as we want him to pay - because if we go bust, he goes bust. That's why I don't see the logic of getting on Ron's case and giving him a load of grief as he tries to get the cash - instead we should be getting behind him because he's our only hope. He won't be sitting around dawdling - he'll be on it all day every day, trying to raise finance in a difficult market and on terms that won't obviously cripple us. It won't be easy - we're not an attractive lending proposition and plenty of lenders will look at us as an opportunity to impose some really aggressive terms. It may be there are deals on the table already that he's reluctant to take because the terms are horrendous - and he's fishing around to see if he can get anything better - which would be a sensible thing to do.

And before you all start, this isn't a pro-Ron comment. He's a property developer - always has been, always will be - and in the long term we want him gone (which I'm sure he will be if he can ever get the land developed). But in the short term we're all in the same boat and we share the common objective of trying to keep that boat afloat.

 

[yogi bear up the cagire]

I'm really, usually, not a great optimist but I've never really believed that this is the end for my beloved club. Nevertheless, the brinkmanship is proving quite stressful. However, I was greatly heartened by SSC's earlier comments, who didn't sound as if our future was in péril. Now the more recent ITK post, although not specific, are enough for me to believed thé température can bé lowered, allowing us to concentrate on Saturday's game rather than fear for our future existence.

 

[Billy Bests boot laces]

And that's precisely the point - there is too much debt for someone to buy us out - so the calls for Ron to 'sell' are completely fanciful - no sane person would take us on until the debt is cleared and the debt won't be cleared until the new stadium and associated development around it, actually happens. Those are the realities of the situation.

In a nutshell, unless there's someone out there absolutely minted, who want's to spend/lose millions of £'s for their tax reasons?.

 

[brigg blue]

In a nutshell, unless there's someone out there absolutely minted, who want's to spend/lose millions of £'s for their tax reasons?.

Or someone wants to invest a very large amount of money to have a return of close to five times that amount

The final value of both of the developments is close to £500M.

 

[Tampa Blue]

Can someone wake me when there is definite news as am not sure I have the will to keep reading these posts.

Truth is that none of us know what’s happening, other members of the board are treated like mushrooms so they have little or no knowledge.

Only one man knows for sure, sadly a man who virtually none of us trust or believe a word of what he says.

 

[Kat_r]

Can someone wake me when there is definite news as am not sure I have the will to keep reading these posts.

Truth is that none of us know what’s happening, other members of the board are treated like mushrooms so they have little or no knowledge.

Only one man knows for sure, sadly a man who virtually none of us trust or believe a word of what he says.

The only way to get rid of rm is protests.

Aside from than that he will sell when he wants to sell. No discussions will change this unless more people decide protest is the way forward

 

[Kat_r]

As I see it there’s four options. Let’s hope it’s 1 or 2. Personally I’d prefer option 2.

1. Bridging Loan lands.

2. Outside investment arrives for a slice of the FF/RH development.

3. Administration.

4. Liquidation.

Agreed. Or enough protests to force 2. The club just won’t collapse. There’s too many sharks who want a slice of that property deal. Martins and non martins included.