My Take on RM

[wynyates]

I know it's all been said before. But still.

I've being involved in the business community of Southend for 25 years and I did not know Ron in his early days as a property developer. He was a photocopier salesman and then a partner in the estate agency HPC. He drove a bright red Lotus Elan. Somebody will remind me what happened to HPC.

He did crop up again with the old Odeon site. Unhappy ending again for some.

I see a recurring theme here. Winners and lossers.

Who are this years unfortunate lossers. Us, the players, The Revenue and I suspect the Council.

I don't want to appear overly bitter. I am bitter but I don't begrudge anyone making a profit out of Southend FC. However, you will not get my season ticket money this year Mr M. That's £700 down. I will stilll support our youth players and loanees next year.

I hope I'm wrong, but I've had enough. I did prefer Jobson. No spin, no lies. My choice.

 

[EastStandBlue]

Where has RM made a profit out of SUFC?

 

[wynyates]

There's the problem. Has he ever made a profit? Or is he just a failed chancer?

 

[davewebbsbrain]

I know it's all been said before. But still.

I've being involved in the business community of Southend for 25 years and I did not know Ron in his early days as a property developer. He was a photocopier salesman and then a partner in the estate agency HPC. He drove a bright red Lotus Elan. Somebody will remind me what happened to HPC.

He did crop up again with the old Odeon site. Unhappy ending again for some.

I see a recurring theme here. Winners and lossers.

Who are this years unfortunate lossers. Us, the players, The Revenue and I suspect the Council.

I don't want to appear overly bitter. I am bitter but I don't begrudge anyone making a profit out of Southend FC. However, you will not get my season ticket money this year Mr M. That's £700 down. I will stilll support our youth players and loanees next year.

I hope I'm wrong, but I've had enough. I did prefer Jobson. No spin, no lies. My choice.

It wasn't for Photocopying Group PLC/Leigh Stationers was it?

 

[Jam_Man]

There's the problem. Has he ever made a profit? Or is he just a failed chancer?

But you are accusing him of being the winner and didnt begrudge him making a profit, there are millions being lost at the moment and he stands to lose far more if we dont get through this,..

I still think he is doing the right thing for this club and if he does deliver the stadium then all of this would have been worth it, however he does seem out of his depth right now and its concerning to say the least.

 

[Hotman]

Where has RM made a profit out of SUFC?

The purchase of RH at under market value - wonder if he has taken advice on the enforceability of the restrictive covenant after winding up of the club...:whistling:

 

[Jam_Man]

The purchase of RH at under market value - wonder if he has taken advice on the enforceability of the restrictive covenant after winding up of the club...:whistling:

Ive no idea if it was actually obtained on the cheap, but if you look at the money pumped into the club Id be surprised if Ron Martin would come anywhere near breaking even if he sold everything and walked away...

 

[grassroots]

I am reminded of something I was told 12 years ago by someone who had dealings with RM previously. It went along the lines of 'How the f*ck did he get involved in football......big ideas.......beware........aint got a pot to p*ss in!'

 

[philtalkin]

I am reminded of something I was told 12 years ago by someone who had dealings with RM previously. It went along the lines of 'How the f*ck did he get involved in football......big ideas.......beware........aint got a pot to p*ss in!'

It's a good point but it goes with the territory though doesn't it.

I have friends and business associates who have either dabbled, or are heavily involved in both residential and commercial property. Over the last 25 years they have been rich and (some) flash and (most) stoney broke.

One guy I know invested heavily in property all over the world, Poland, the U.S, London and, mainly, Dublin. His portfolio was worth 50 million not that long ago. Now it is half of that and if he sold up and 'paid' off his loans he would have to find 15 mill or faces bankruptcy.

 

[grassroots]

It's a good point but it goes with the territory though doesn't it.

I have friends and business associates who have either dabbled, or are heavily involved in both residential and commercial property. Over the last 25 years they have been rich and (some) flash and (most) stoney broke.

One guy I know invested heavily in property all over the world, Poland, the U.S, London and, mainly, Dublin. His portfolio was worth 50 million not that long ago. Now it is half of that and if he sold up and 'paid' off his loans he would have to find 15 mill or faces bankruptcy.

...and thats why its so dangerous allowing a 'property developer' to own a lovely green field and acres of tarmac surrounded by houses. HE cant lose.

 

[Jam_Man]

...and thats why its so dangerous allowing a 'property developer' to own a lovely green field and acres of tarmac surrounded by houses. HE cant lose.

Why cant he?

He has just paid two million to the tax man, he has paid over a million already on plans for Fossetts Farm, if the club went belly up he would be left with no development and no way to recoup the millions invested.

His only way out of this is surely to get the club through it and the development built now.

 

[Firestorm]

The purchase of RH at under market value - wonder if he has taken advice on the enforceability of the restrictive covenant after winding up of the club...:whistling:

there is no evidence that RH was purchsed under market value, just evidence that RH was purchased at a value less than was shown in the accounts, which coincidentally had just been increased by around 25% at a time when the A) the owner at the time was looking to offload and B) the accounts needed an injection from somewhere to prop up losses made from footballing activities

 

[callan]

I know it's all been said before. But still.

I've being involved in the business community of Southend for 25 years and I did not know Ron in his early days as a property developer. He was a photocopier salesman and then a partner in the estate agency HPC. He drove a bright red Lotus Elan. Somebody will remind me what happened to HPC.

He did crop up again with the old Odeon site. Unhappy ending again for some.

I see a recurring theme here. Winners and lossers.

Who are this years unfortunate lossers. Us, the players, The Revenue and I suspect the Council.

I don't want to appear overly bitter. I am bitter but I don't begrudge anyone making a profit out of Southend FC. However, you will not get my season ticket money this year Mr M. That's £700 down. I will stilll support our youth players and loanees next year.

I hope I'm wrong, but I've had enough. I did prefer Jobson. No spin, no lies. My choice.

As my memory serves me Ron drove a Porsche, and Dave Peters [partner in Hpc ] drove the Elan...the financial muscle came from a company called RDR [Ron dave and Ray ] which were a property developement company.
They built a lot of property in the Benfleet area, including the ludicrously named 'martins mews'...not sure what happened to HPC but can certainly say that the staff were often paid late!...a recurring theme with Uncle Ron.
Martin Hopson was there at the time who went on to form Hopsons.

 

[cockles is back]

Ive no idea if it was actually obtained on the cheap, but if you look at the money pumped into the club Id be surprised if Ron Martin would come anywhere near breaking even if he sold everything and walked away...

and your quite sure RMs own money was being used??

 

[CocklesShrimps&Whiteweed]

Why cant he?

He has just paid two million to the tax man, he has paid over a million already on plans for Fossetts Farm, if the club went belly up he would be left with no development and no way to recoup the millions invested.

His only way out of this is surely to get the club through it and the development built now.

Seems the two million came from a deposit for Roots Hall from Sainsburys, not Ron's own pocket. There is another way out of it for Ron and quite honestly it doesn't bear thinking about.

 

[Jam_Man]

Seems the two million came from a deposit for Roots Hall from Sainsburys, not Ron's own pocket. There is another way out of it for Ron and quite honestly it doesn't bear thinking about.

That was known anyway.

However who paid for Roots Hall in the first place? Ron Martin etc bought the stadium for 4 million in first place, so even after receiving 2 million is still 2million "down" for the time being.

And cockles, it doesnt matter if the money came from his own wallet or is a debt now owed by one of his companies, its money he has given up from somewhere. Without Southend United his companies would be far better off than they are now, at least till the stadium is finalised.

 

[Firestorm]

That was known anyway.

However who paid for Roots Hall in the first place? Ron Martin etc bought the stadium for 4 million in first place, so even after receiving 2 million is still 2million "down" for the time being.

And cockles, it doesnt matter if the money came from his own wallet or is a debt now owed by one of his companies, its money he has given up from somewhere. Without Southend United his companies would be far better off than they are now, at least till the stadium is finalised.

the club recieved 4M , that would have been from the jv, how much over the top RM had to pay to buy the other half is not known