Idle speculation

[fatshrimp]

Did I read on here sometime last week that David Sullivan may well be selling up at Brum and about to dip into his wallet and snap up Southend United?

Just saw an article in the paper today saying that he and his partners the Gold Brothers are likely to sell their interests in the Daily & Sunday Spurt. Sullivan may pocket around £30mln. He'll have a bit more cash in his back pocket and a little more time on his hands then I should think.

Wonder what Rons price would be..?

 

[Slipperduke]

I don't know so much. David Sullivan's had a gutful of abuse from the Birmingham fans and wants out full stop.

I've got a lot of tiime for anyone who hates Brummies, but I still can't see it happening.

 

[TTS]

I don't know so much. David Sullivan's had a gutful of abuse from the Birmingham fans and wants out full stop.

I've got a lot of tiime for anyone who hates Brummies, but I still can't see it happening.

prob end up with Barry Fry in charge again, he can wake up a "sleeping giant" !!

 

[Homer]

Correct me if i wrong here but i thought RM was going to tell everbody who is backers where when the stadium was passed but with this hic up and the planning enquiry in the way at the moment like many things its gone on the back burner

cant see RM funding the building of the stadium without help from somewhere

If Sullivan was interested in buying into SUFC it does not mean RM selling up totally surely they could share equal control like Sullivan has done with the Gold Brothers

 

[Andy_Shrimp]

Isn't he rumoured to be interested in Ipswich? I seem to recall that on the news the other night but sheepshanks has said no.

 

[southend_united_fan]

Correct me if i wrong here but i thought RM was going to tell everbody who is backers where when the stadium was passed but with this hic up and the planning enquiry in the way at the moment like many things its gone on the back burner

cant see RM funding the building of the stadium without help from somewhere

If Sullivan was interested in buying into SUFC it does not mean RM selling up totally surely they could share equal control like Sullivan has done with the Gold Brothers

ill correct you since you asked.....backers? what backers - thats made up

the funding comes form the profit generated from the flats and retail. no backers putting in thier private money, just a very clever property transaction

 

[Einstein]

ill correct you since you asked.....backers? what backers - thats made up

the funding comes form the profit generated from the flats and retail. no backers putting in thier private money, just a very clever property transaction

And I'll correct you.

How exactly do you build those flats and retail developments which will costs millions in the first place then?

The money needs to come from somewhere, whether that's a very generous bank loaning, which I highly doubt given our past credit and additionally footballs latest track record, or someones putting their money in on the condition they will get something back...

 

[A Century United]

And I'll correct you.

How exactly do you build those flats and retail developments which will costs millions in the first place then?

The money needs to come from somewhere, whether that's a very generous bank loaning, which I highly doubt given our past credit and additionally footballs latest track record, or someones putting their money in on the condition they will get something back...

But this isn't an impecuneous football club going cap in hand to the bank with a desire to build a new stadium, oh and some flats retail tacked on. This is an experienced property developer, with a good track record, who has a solid retail/flats scheme which happens to have a football stadium tacked on to it.

Having said that, most deals of this sort have more than one investor/lender involved but if he gets planning for most of what he has proposed, I doubt very much if RM will have much trouble raising the capital to go ahead with it. In fact, I've got £50 here to get him started...

 

[southend_united_fan]

And I'll correct you.

How exactly do you build those flats and retail developments which will costs millions in the first place then?

The money needs to come from somewhere, whether that's a very generous bank loaning, which I highly doubt given our past credit and additionally footballs latest track record, or someones putting their money in on the condition they will get something back...

correction again:

yes funds need to come from somewhere - most likely the bank as you said. it would be Martin Dawn borrowing the money(or some other company) - not SUFC. Southend United's track record is irrelivant - its the developer's accounts that matter.

the bank would lend us money to develope the whole scheme, with a guarentee of us being able to pay if pack knowing that we can pay it back through the retail etc.

 

[Einstein]

correction again:

yes funds need to come from somewhere - most likely the bank as you said. it would be Martin Dawn borrowing the money(or some other company) - not SUFC. Southend United's track record is irrelivant - its the developer's accounts that matter.

the bank would lend us money to develope the whole scheme, with a guarentee of us being able to pay if pack knowing that we can pay it back through the retail etc.

Are you the bank manager? That comes across as an incredibly naive statement unless substantiated. How exactly do you know they would just lend us the money? And no, 'working in banking' is not a good enough answer.

Also, I'm not 100% sure it's actually Martin Dawn borrowing the money either. I'm sure some time ago someone said the company behind the project is 'Roots Hall Ltd' or something similar. Southend United's track record is of course relevant too, it's a related entity. That's a ridiculous statement. Any decent Bank/Financial Institution would check related entities/companies, directorships, every finer detail if it were to lend MILLIONS to a company. Any bank lending that kind of money would not just throw it around like you seem to suggest.

 

[EastStandBlue]

From what I understand, The Club and Roots Hall was owned by South East Leisure PLC until Ron Martin bought the controlling share of the club. Roots Hall Leisure PLC was set up as a seperate holding company for the Club and the only existing connection we have with Martin Dawn PLC is Ron Martin himself.


Bottom line is, I don't think we would've got Planning Permission if we didn't have solid proof of where the finances were going to come from, and because the project isn't based on the sale of Roots Hall it indicates the finances are either coming from an exterior source (Loan, Venture Capitalist, New Partner) or the club have miraculously stored enough funds to start the Project. We can also obtain a Government Grant for the Project i believe to go some way towards contributing the costs.

 

[southend_united_fan]

Are you the bank manager? That comes across as an incredibly naive statement unless substantiated. How exactly do you know they would just lend us the money? And no, 'working in banking' is not a good enough answer.

Also, I'm not 100% sure it's actually Martin Dawn borrowing the money either. I'm sure some time ago someone said the company behind the project is 'Roots Hall Ltd' or something similar. Southend United's track record is of course relevant too, it's a related entity. That's a ridiculous statement. Any decent Bank/Financial Institution would check related entities/companies, directorships, every finer detail if it were to lend MILLIONS to a company. Any bank lending that kind of money would not just throw it around like you seem to suggest.

i just have to laugh now - I try to say things as simple as possible, without going into detail so its easy and simple for people to understand to quickly stamp out ideas like 'funding will come from someone like david gold'....but then people like you come and be smart arses.

no i dont work in banking.

and no i am not naive - far form it

of course i understand that sufc's accounts are relevant, but i was trying to say that sufc as a company wont be borrowing money, it will most likely be SEL.

look, you obviously like trying to be smart, as you rather concieted user name suggests(whether you intended that or not i really dont know or care...), but i can assure you, my statements are not 'ridiculus' and i am not 'naive'.

signing off now - i leave you to continue preaching about the workings of martin dawn, SEL, sufc etc etc - im sure you know best:rolleyes:

 

[Einstein]

without going into detail so its easy and simple for people to understand to quickly stamp out ideas like 'funding will come from someone like david gold'

Well funding a project which costs tens of millions isn't really that 'easy and simple' is it? As for David Gold's interest. It's a messageboard, it's where people speculate. I didn't mention his name at all as I do think it is relevant regarding the new stadium at all. I would also be surprised if he even stated an interest in us! People just speculate though, like that have done about Freddy's future for the past 12 months!

of course i understand that sufc's accounts are relevant

Well I wasn't really being a 'smart a*se' as you put it, however if you saw the last post as being one, you definitely will see this bit as one..... So now SUFC's accounts are relevant then? That contradicts what you said about two hours before that....

Southend United's track record is irrelivant.

Or am I missing something in that statement?!

i leave you to continue preaching about the workings of martin dawn, SEL, sufc etc etc - im sure you know best:rolleyes:

Not at all. As I said in previous post when I said "I'm not 100% sure" when referring to the ownership of the project. And ESB was happy to step in and state what he believed to be the case in more detail than I did.

Just because someone doesn't agree with you, doesn't mean you have to go on the defensive... :thump:

 

[Yorkshire Blue]

Any decent Bank/Financial Institution would check related entities/companies, directorships, every finer detail if it were to lend MILLIONS to a company. Any bank lending that kind of money would not just throw it around like you seem to suggest.

You'd be surprised.

I've certainly dealt with major financial institutions which didn't know the first thing about whether there were any related entities/companies, directorships etc. They were still prepared to lend millions on the basis that they had a good working relationship with that client and the customer was offering sufficient security (eg the property being developed).

The thing is that the bank is going to expect as a minimum somewhere between a third to a quarter of the money to be invested by the borrower. This stadium and surrounding development is going to cost, what £25-30m? So Ron Martin will need to come up with something like like £6-10m himself. In addition he'll need to service the interest. This is why Delancey were first involved, they were the money men.

I still don't know where Ron Martin got the finance for buying out Delancey. If there is an additional investor this may provide the answer, if Ron Martin/Martin Dawn are going it alone this means he will need access to even more money. I'd certainly feel more re-assured if we knew a little more about how this whole project is going to be financed in the short-medium term.

 

[EastStandBlue]

This stadium and surrounding development is going to cost, what £25-30m?

I think Martin was quoted to have stated a ballpark figure around the £22m mark, but obviously there'll be a contingency fund because it really is likely to go beyond budget.

As for Martin's personal finance and buying out Delancey, With his current developments I think he's got a fair bit of finance behind him. Obviously, as a property developer he sees the redevelopment of Roots Hall as integral to his own personal success...

 

[PrawNZ]

I think Martin's holding out for a bid of £22m for Eastwood!