Breaking News Latest news on the sale of the club.

[defender05]

All three parties have pretty much said the same thing, the council are still finishing there due diligence so we need to wait for that to be completed. If the council were waiting for any information I'm sure they would be the first to blame someone else and at the moment they aren't.

As for the creditor, for all we know they might have agreed to hold off until a certain date and like most of us have had enough of it being 'another few weeks'. The big concern is if other decide to join in.

 

[Supa Shrimpa]

Can someone explain, in a nutshell, what Ron (and his partners) will be left with ? If it's housing on the FF site, how did anyone expect the council to approve that without it going to a full development proposal (or has it already ?). Is it me ?

 

[Colchester and proud!]

Another 10 points gone then

If they did deduct your club points and it dragged on until after the end of the current season you would start next season on minus points, lets hope it doesn't come to that.

 

[Holy Joe]

Can someone explain, in a nutshell, what Ron (and his partners) will be left with ? If it's housing on the FF site, how did anyone expect the council to approve that without it going to a full development proposal (or has it already ?). Is it me ?

It's you.

The council are currently agreeing a leasing deal to change the existing deal to lease properties at RH and FF to just FF - but the rat is also wanting other changes, e.g., longer leases. This is what needs to be agreed for the sale of club to go through (plus the (new info regarding) consent of the financing partner)

Planning permission is separate and allegedly the sale of club is not dependent on it

 

[Supa Shrimpa]

It's you.

The council are currently agreeing a leasing deal to change the existing deal to lease properties at RH and FF to just FF - but the rat is also wanting other changes, e.g., longer leases. This is what needs to be agreed for the sale of club to go through (plus the (new info regarding) consent of the financing partner)

Planning permission is separate and allegedly the sale of club is not dependent on it

Thanks for that. So, it looks like the delay is Ron's end then ! If it's not, he should explain (not just deflect onto the creditor)

 

[Holy Joe]

Thanks for that. So, it looks like the delay is Ron's end then ! If it's not, he should explain (not just deflect onto the creditor)

As with most things, it's probably not 1 thing at fault but a multitude. The council appeared slow to commence the DD, but the changes Ron wants are likely to be adding to the timescale rather than detracting.

 

[Streaky]

Lucid as ever from King Rat

View attachment 31604

At no point in the above did Ron say he would pay the bill.. I guess his aim is for all of these patient creditors to only be paid once he has legged it.

Such a shame that the Consortium has to find £millions? to pay off all these old debts and not use that money to a) Improve the team or b) Improve Roots Hall.

If that £20m ever comes from Ron after the extra flats are built then i wouldnt be against some of that going back to the consortium to cover all these unpaid debts they have had to pay but that £20m is never coming is it?

 

[defender05]

At no point in the above did Ron say he would pay the bill.. I guess his aim is for all of these patient creditors to only be paid once he has legged it.

Such a shame that the Consortium has to find £millions? to pay off all these old debts and not use that money to a) Improve the team or b) Improve Roots Hall.

If that £20m ever comes from Ron after the extra flats are built then i wouldnt be against some of that going back to the consortium to cover all these unpaid debts they have had to pay but that £20m is never coming is it?

Those debts were already there when they agreed the deal so unless they weren't part of the takeover they were always going to pay them.

 

[borientater]

Think there is more chance of us winning the champions league than seeing that £20 million

 

[Cricko]

With @Liam AAS at 11.11

 

[THE SEVENTIES NORTH BANK]

Think there is more chance of us winning the champions league than seeing that £20 million

The consortium aren't stupid. It will legally be included in the deal, rather than Ron's word on it.

 

[kentblues]

I thought that but the statement reads formal agreement from financing partners - I'm guessing they've given some informal indication that they are ok

This is an important word (formal) that may accidently get omitted on repetition. Formal approval indicates a final step approving something that already agreed in principle. Formal approval surely could only follow the conclusion of the DD process?

 

[kentblues]

I wonder what has made the law firm change it's stance - presumably a missed deadline (or 2) anything else?

Impatience

 

[SuperRonnieP]

This is an important word (formal) that may accidently get omitted on repetition. Formal approval indicates a final step approving something that already agreed in principle. Formal approval surely could only follow the conclusion of the DD process?

That's what I was thinking. Any party financing a deal would be mad to give formal sign off until all due diligence has been completed.

 

[Supa Shrimpa]

If they did deduct your club points and it dragged on until after the end of the current season you would start next season on minus points, lets hope it doesn't come to that.

Don't worry. We're used to that

 

[thenobster]

Quick whip round at PMQs... sorted. £50 claims for breakfast indeed!

 

[Liam AAS]

I would encourage everyone to remember that we are in this mess because of Ron. COSU and SCC are trying to guide the club out of the dark but it is a very complex and fraught situation with lots of monies owed to some very serious players.

Ron remains the real bad guy in all this, even if others are being slow.

 

[kentblues]

It's you.

The council are currently agreeing a leasing deal to change the existing deal to lease properties at RH and FF to just FF - but the rat is also wanting other changes, e.g., longer leases. This is what needs to be agreed for the sale of club to go through (plus the (new info regarding) consent of the financing partner)

Planning permission is separate and allegedly the sale of club is not dependent on it

Where is this actually coming from? The council are saying DD is nearing completion and it will go to cabinet later this month? Nothing about any ongoing negotiations? There's so much fiction, is this idea on Ron seeking changes actually coming from one of the parties? It may be there is no mention of it because such changes are already agreed and reflected so its now a non issue. Be astonished if Ron was holding it up by trying to renegotiate and neither the consortium or the council even mentioned it?

 

[Colchester and proud!]

Don't worry. We're used to that

It's bloody ridiculous, why don't that family just F off and leave your club alone, and it is your club because a club only means something if it has fans, no matter how many there are.

 

[annie1954]

Think there is more chance of us winning the champions league than seeing that £20 million

When the consortium said at the cliffs pavilion Ron was going to pay 20milliom everyone fell off there seats laughing