Breaking News Interview with Justin Rees for the Guardian Australia

[Holy Joe]

Exactly or even TL doing a walk round video on his phone, no way has he not seen what his taking on in my opinion.

They are shareholders. So on one level its debt, but its not like a loan where the lender calls in the loan after x amount of time or on demand. They get the money back by selling the shares on to someone else at some future point. And the value of the shares goes up and down to reflect the value of the business- and so in theory market forces will always find a new shareholder. The shareholder can't just demand their money back from the business as with a loan.

Unless the club is issuing new equity doesn't new cash have to go in as debt?

From what we know they're giving Ron £3 for assets and assuming am undeclared amount of debt. Funds will be needed to fund the running of the club in the short to medium term - probably at least £2 to £3m in year one (clear accrued debts to HMRC, npower, Emerson's etc plus fund ongoing shortfall).

 

[Beefy]

From what I understand , Kimura wanted the shiney new stadium , the present consortium saw the potential of a redeveloped Roots Hall . As soon as the Consortium intimated that Ron could have the whole of Fossetts (with the council helping ) but Ron therefore needs to change the whole shape of the deal , that was the game changer . Ron saw bigger pound signs in the long run and the Consortium saw a lot easier transition with Ron completely out of the picture .
Thank God.

Tbh it's win win win as far as I can see. I get the impression that some on here were close to the Kimura bid and I'm not doubting their intentions at all but the more I read about and from the Rees Consortium the more I think this is a really good fit for us as a Club and a fanbase.

 

[Richard Hearn]

To quote Mike Tyson "Everybody has plan until you punch them in the mouth"....

Or to paraphrase what Prussian Field Marshal Helmuth von Moltke wrote in 1871, "No plan survives first contact with the enemy".

 

[danbowen]

Really like the fact that he wants a challenge rather than going in to a club where it would be easy for him. He has shown he can grow businesses well from the information available and it is great that he has also got local businessmen in to as this will ensure the club have people at the top who have the clubs best interests at heart.

How will it work with none of them appearing to have overall control of the club? Do we think more people may join along the line such as Kimura to further enhance the club etc?

 

[BEERMONSTER]

Tbh it's win win win as far as I can see. I get the impression that some on here were close to the Kimura bid and I'm not doubting their intentions at all but the more I read about and from the Rees Consortium the more I think this is a really good fit for us as a Club and a fanbase.

I feel the Consortium is the better fit for our Club. That is not to derided the Kimura guys attempts as we know there is an affinity to us from them but their deal had to be guided by the need for returns and ongoing opportunity for financial growth through related revenue streams. The 'custodian' message being sent out by JR statement and the make-up of the Consortium is almost holistic in its approach and just feels right for us. It comes across from the very start has having sensible expectations and achievable targets no doubt drawn from the involvement of existing long term Shrimpers who's hearts on this occasion are slightly ruling their heads and hopefully we will all end up as happy as pigs in the proverbial!

 

[kentblues]

Unless the club is issuing new equity doesn't new cash have to go in as debt?

From what we know they're giving Ron £3 for assets and assuming am undeclared amount of debt. Funds will be needed to fund the running of the club in the short to medium term - probably at least £2 to £3m in year one (clear accrued debts to HMRC, npower, Emerson's etc plus fund ongoing shortfall).

It will be interesting to see how its done and the new balance sheet. And whether the 70% shareholding is acquired by the new shareholders as tranches in their own name, or with the 70% is acquired by a new co vehicle and they are shareholders in that. I guess it could in theory go in as shareholder funds or as directors loans??

 

[Streaky]

There is a film there waiting to be made .

Agreed there is a bit Oceans 11 about it.. "Rees' 6" maybe?

 

[Silver]

Off topic but now I'm intrigued, what got you hooked on a non-league club the other end of the country? Was it when you heard about the famous night when Rooney/Ronaldo/SAF got their pants pulled down?

OK I'll come clean. Nothing to do with bare bums !! :D

I have watched one of the players kick a football about since he was a todler. All he has ever wanted to do is play football and his excitement of joining SUFC peaked my interest. Joining Shrimperzone had me hooked within days and I will now publicly admit I have never watched a football match in my life. On match days I switch between the forum, chris Phillip's and the SUFC X sites trying to grrasp what's happening. Relying on D1versity for my next day's fix. What a nice young man he is. :) :) :)

Mods, my sincere appologies for pushing the tread even further off topic but considering how invested I could get I'm not suprised that Justin Rees found the club such an appealing entity to become involved with.

 

[Jedi Shrimper]

My new man crush

 

[Mad Cyril]

As a shareholder can I legitimately claim to be part of the consortium?

 

[Beefy]

Mad Cyril Out!

 

[Northbank Nirvana]

OK I'll come clean. Nothing to do with bare bums !! :D

I have watched one of the players kick a football about since he was a todler. All he has ever wanted to do is play football and his excitement of joining SUFC peaked my interest. Joining Shrimperzone had me hooked within days and I will now publicly admit I have never watched a football match in my life. On match days I switch between the forum, chris Phillip's and the SUFC X sites trying to grrasp what's happening. Relying on D1versity for my next day's fix. What a nice young man he is. :) :) :)

Mods, my sincere appologies for pushing the tread even further off topic but considering how invested I could get I'm not suprised that Justin Rees found the club such an appealing entity to become involved with.

Go on , give us a clue ....which player ? And welcome on board , we're a strange bunch but a good bunch and loving football and SUFC is still at our core. You're more than welcome new Shrimper :)

 

[damien]

OK I'll come clean. Nothing to do with bare bums !! :D

I have watched one of the players kick a football about since he was a todler. All he has ever wanted to do is play football and his excitement of joining SUFC peaked my interest. Joining Shrimperzone had me hooked within days and I will now publicly admit I have never watched a football match in my life. On match days I switch between the forum, chris Phillip's and the SUFC X sites trying to grrasp what's happening. Relying on D1versity for my next day's fix. What a nice young man he is. :) :) :)

Mods, my sincere appologies for pushing the tread even further off topic but considering how invested I could get I'm not suprised that Justin Rees found the club such an appealing entity to become involved with.

Silver = colour
colour = blue
blue = southend
southend 1 - 0 manchester united
manchester united = rooney
rooney = mooney

You are Dan Mooney's uncle's cousin's post man and I claim my 13th free Chris Powell mug

 

[Leeboy]

OK I'll come clean. Nothing to do with bare bums !! :D

I have watched one of the players kick a football about since he was a todler. All he has ever wanted to do is play football and his excitement of joining SUFC peaked my interest. Joining Shrimperzone had me hooked within days and I will now publicly admit I have never watched a football match in my life. On match days I switch between the forum, chris Phillip's and the SUFC X sites trying to grrasp what's happening. Relying on D1versity for my next day's fix. What a nice young man he is. :) :) :)

Mods, my sincere appologies for pushing the tread even further off topic but considering how invested I could get I'm not suprised that Justin Rees found the club such an appealing entity to become involved with.

Hmmm.....Manchester......Hobson? Mooney?

 

[Holy Joe]

Hmmm.....Manchester......Hobson? Mooney?

Joined Aug 22 - bit late for Hobbo?

 

[Silver]

Joined Aug 22 - bit late for Hobbo?

OFF TOPIC!!!!!! :D

Hmmm.....Manchester......Hobson? Mooney?

OFF TOPIC !!! :D :D :D

 

[5ufc]

Just proves protest and publicity saved our club!

 

[Leeboy]

OFF TOPIC!!!!!! :D

OFF TOPIC !!! :D :D :D

getting in to the SZ way of life already!

 

[JWShrimper]

OK I'll come clean. Nothing to do with bare bums !! :D

I have watched one of the players kick a football about since he was a todler. All he has ever wanted to do is play football and his excitement of joining SUFC peaked my interest. Joining Shrimperzone had me hooked within days and I will now publicly admit I have never watched a football match in my life. On match days I switch between the forum, chris Phillip's and the SUFC X sites trying to grrasp what's happening. Relying on D1versity for my next day's fix. What a nice young man he is. :) :) :)

Mods, my sincere appologies for pushing the tread even further off topic but considering how invested I could get I'm not suprised that Justin Rees found the club such an appealing entity to become involved with.

What a nice post. I agree, it's a very special club, it gets right under your skin. Up the Shrimpers.

 

[ColinMorrisWalksOnWater]

I like what I see initially and feel from the article. It'll be interesting to see how things develop in November, when JR (shades of Dallas here for those with long enough memories) and the consortium release more about their plans maybe.