Breaking News RM Speaks..

[hindle_666]

No, I agree, that's why I'm worried that no-one would sell to us.

What i mean is that its a shame we didnt have a Jcr Freddy or a Bailey etc.
That could help pay the debt.

 

[canveyshrimper]

What i mean is that its a shame we didnt have a Jcr Freddy or a Bailey etc.
That could help pay the debt.

...and if we did we'd still have people on here asking where the money has gone.

 

[hindle_666]

...and if we did we'd still have people on here asking where the money has gone.

well we dont have 1 so not worth the discussion...........

 

[philtalkin]

There are fans who believe Ron is the Devil in disguise and, this is another example to back up what they have been saying.

Then there are those who believe Ron can do no wrong. These things happen etc...

The simple fact is we should just let these situation play out and see what happens. After all, there is nothing else we can do.

As soon as anything else happens (and it will) both 'camps' will either jump to Ron's defence, or say 'this is more proof' etc...

So, what is the solution? My idea is this: As soon as something happens, do not form an immediate opinion until all the facts are on the table. In this case, we probably won't get to hear of all the ins and outs, so give it a few months and see if it blows over, HMRC get paid and things carry on as normal.

With regards to players, I have the same opinion, see who gets signed (or not) between now and the beginning of the season, or how many decent loan players we get in. (2 of my favorite players last year were loanees).

Now onto the stadium. 'Oh my God, nobody is building, we'll never be open on time' etc... Again, wait to see what happens. Maybe we will miss the deadline (not unusual with large projects like this, remember Wembley anyone - and now we also have the biggest financial crisis ever)....

So to sum it up, sit on your lazy holes and let things play out. Nobody has died (expecting a few comments here..)

Does anybody really believe that this problem with HMRC spells the end for this club? And, if this does all blow over, will they come on here and say, 'OK I was wrong, it really was something and nothing'. Probably not!

 

[Holy Joe]

For us -10 points isn't an easy way out as I think it would be difficult for RM to legally raise a Phoenix company (or several Phoenix companies considering the number of legal entities involved) to buy the assets back up and even if he could I don't know whether the new legal entity would be able to utilise the planning permission that we've got for the new ground (maybe someone can clarify that?)

Planning permission isn't owned so anyone, with the land owners permission, could build the stadium and shops...as long as they met the conditions of the planning application. Was one of the conditions that SUFC existed?

 

[bomma77]

All of this got me thinking about how the man in charge main business was doing, so I downloaded Martin Dawn's accounts.

In 2007 they made a loss of £475K in July 2008 the loss was £1.3M If I'm reading the accounts right they had debts of £7M which included a £5M overdraft (I'm not an accountant so not 100%). RM states that the company is reliant on "financiers" and that the business would be run as a "going concern". The account auditors state that "the existence of a material uncertanty which may cast doubt about the group's ability to continue as a going concern"

Given that its 2009, the commerical property sector has bombed, and the banks don't seem to be lending money out for commerical property development. Could it be that there just isn't the money left for RM to bail SUFC out?

 

[Hotman]

All of this got me thinking about how the man in charge main business was doing, so I downloaded Martin Dawn's accounts.

In 2007 they made a loss of £475K in July 2008 the loss was £1.3M If I'm reading the accounts right they had debts of £7M which included a £5M overdraft (I'm not an accountant so not 100%). RM states that the company is reliant on "financiers" and that the business would be run as a "going concern". The account auditors state that "the existence of a material uncertanty which may cast doubt about the group's ability to continue as a going concern"

Given that its 2009, the commerical property sector has bombed, and the banks don't seem to be lending money out for commerical property development. Could it be that there just isn't the money left for RM to bail SUFC out?

but "Uncle Ron" has said it's all OK

 

[bomma77]

but "Uncle Ron" has said it's all OK

IMO Uncle Ron could teach Tony Blair and Gordon Brown a thing or two.

 

[Mick]

[/B]


To be fair have we got any players that would demand a decent fee,
i dont think so??????

Although you completely missed the point, your assertion is probably not too wide of the mark. So we've been over-paying our staff at nearly Championship levels and we still haven't got anyone worth much. That is worrying.

 

[Cricko]

We are doomed....doomed I tell the,'(

 

[OldBlueLady]

We are doomed....doomed I tell the,'(

 

[palexander]

Been saying for a while now that "something is not right" behind the scenes and it seems to be coming to fuition.

I dont think anyone can (or should) blame Ron. I'm not saying he is totally blameless as ultimately the man at the top bares all the responsibility, but its just a combination of the downturn in the economy, our relegation and (from the sound of it) a bit of miss-management.

You can see why Ron was so quick to bring up the 'due-diligence' when signing players, when you look at Clarke, Foran, Paynter - looking at over half a mill in transfer fee's alone - plus signing on fees, bonueses and ultimately, high wages.

Martin cannot really be blamed for that - if he had said "no, I'm not spending £200,000 on Billy Paynter as I dont think he is any good", we'd all be up in arms - he has to trust Tilsons judgement (or at least DID! LOL) and for whatever reason, these deals didnt work out.

Who knows where we would be now without the Eastwood, JCR and Bailey money, plus the Chelsea/Spurs/Man U receipts.

Tough times - and I know its all idle gossip, but if Brighton/Peterborough did or do come in with anything like £300,000 for Grant, I suggest we rip their hands off!!

 

[canveyshrimper]

:unsure:

 

[cockles is back]

To clarify, I don't think that Ron Martin has done anything wrong other than get carried away trying to establish this Club at a level that it's simply not ready yet to be at. In my experience a lot of the people who take up this opposition to Ron are also the first people to moan when we don't spend £275k on a seventh striker or other clubs at this level who are not twelve months out of Administration due to overspending themselves decide to sign a name player on a £3.5k a week contract.

RM wants the Club established in the Championship or at least towards the top of League One by the time that the new stadium opens up and he's spent the money to try to do that but we're swimming against the tide and as this winding-up petition has shown it's not beyond the realms of possibility that we could drown. My fear is that we'll continue to throw money at trying to get back into the Championship, we'll end up defaulting on a tax bill and we'll wind up in Administration. And that could potentially be the end of the new stadium, the end of Ron Martin and the start of us dropping back to the bottom half of League Two.

Of course if the alternative is to cut the wage bill and spend nothing on transfer fees then we run the risk of dropping into the bottom half of League two, too. And none of us want that.

The whole thing depresses me no end.

not only would it be the end of RM the ned of the new ground it would also be the end of the old ground to that he has incidently sold already so effectively we are feked.

 

[cockles is back]

...and if we did we'd still have people on here asking where the money has gone.

so whats your suggestion then big shot?

 

[bomma77]

not only would it be the end of RM the ned of the new ground it would also be the end of the old ground to that he has incidently sold already so effectively we are feked.

We'd ground share with Canvey!

 

[cockles is back]

We are doomed....doomed I tell the,'(

its funny you know you should right that, it wasnt long ago, you were telling me on a daily basis to go and have a sit down with uncle ron and have a biscuit and a chat, just like he did to you and many others to silence you and get on side, alot of good that biscuits done aye!

 

[Beefy]

not only would it be the end of RM the ned of the new ground it would also be the end of the old ground to that he has incidently sold already so effectively we are feked.

Sainsburys can't have Roots Hall until we're in another ground in the town. If we didn't have that covenant in place I'd agree that we'd be in real trouble.

 

[EastStandBlue]

Aye, the club can hide behind the covenant to ensure we have a home, but the definite legal action brought to the club by Sainsbury's should the deal go sour will probably force us to sell the ground to raise capital.

All that said, I think people are getting slightly ahead of themselves. RM is confident that the hearing will see the issue resolved, and the case in point that both Accrington and Rotherham have been served similar petitions and still exist is beneficial to his belief... especially considering Accrington are in a damn site worse position financially than us.

I'm not saying it's all rosy and simply a misunderstanding, it's evident the case is far from it, but the assumptions should be saved for July 30th, when we'll know for sure what state the club are in in terms of any debt owed to the HMRC.

 

[jimmyshrimp]

Maybe the fact we have not signed anyone says a lot. Its seems the Sawyer thing just fell in there lap, with Chelsea offering him to us, rather than us going out and getting him.