Ron makes bid for Delancey and FF developments

[Napster]

From the Trust's latest liaision minutes:

(RM) said that under the Option they now have 20 acres whereas RM would have preferred the original 50 acre proposal...RM said that he wanted the new stadium to be able to be increased to about 22,500 capacity and feels that in an “immediate” catchment area of 300,000 and 750 within 15 miles, gates could be greatly improved. He said that he had had meetings with the council and who remained supportive of the proposed stadium relocation.

RM said that he had placed a Fully Funded proposal to Delancey to acquire their 50% shareholding in SEL. Delancey have said they want out and were carrying out an appraisal to see if they are getting value from the proposed buy-out...
He said that that was the deal he was proposing to Delancey and although it is not confidential it is important to achieve a resolution in order to move forward. He said that if and when the deal happens he may form a new co. or keep it as SEL UK Ltd...He said that if and when the deal was done with Delancey he wanted to discuss fully with the Trust what the supporters wanted at the new stadium. He said that he looked forward to our input...He said that the finance required at the Club hasn't been provided by from SEL for nearly two years...RM said that there was no conflict between Ron Martin owning Martin Dawn and Martin Dawn/SEL owning 100% of the Club. He said that he wants to return the stadium to the supporters and also wished to remove the debt.


Thoughts? There is more, but I've selected the juicier stuff.

 

[fbm]

Quote[/b] (Napster @ Dec. 09 2004,13:18)]From the Trust's latest liaision minutes:

(RM) said that under the Option they now have 20 acres whereas RM would have preferred the original 50 acre proposal...RM said that he wanted the new stadium to be able to be increased to about 22,500 capacity and feels that in an “immediate” catchment area of 300,000 and 750 within 15 miles, gates could be greatly improved.  He said that he had had meetings with the council and who remained supportive of the proposed stadium relocation.

RM said that he had placed a Fully Funded proposal to Delancey to acquire their 50% shareholding in SEL.  Delancey have said they want out and were carrying out an appraisal to see if they are getting value from the proposed buy-out...
He said that that was the deal he was proposing to Delancey and although it is not confidential it is important to achieve a resolution in order to move forward.  He said that if and when the deal happens he may form a new co. or keep it as SEL UK Ltd...He said that if and when the deal was done with Delancey he wanted to discuss fully with the Trust what the supporters wanted at the new stadium. He said that he looked forward to our input...He said that the finance required at the Club hasn't been provided by from SEL for nearly two years...RM said that there was no conflict between Ron Martin owning Martin Dawn and Martin Dawn/SEL owning 100% of the Club. He said that he wants to return the stadium to the supporters and also wished to remove the debt.


Thoughts? There is more, but I've selected the juicier stuff.

Sounds very good news to me... as long as Delancey are out of the picture.

Can we hear from any of the conspiracy theorists please?

 

[Andy_S]

Nice to read that he will fully back the management if there is a player that we find who'll improve us. Time to sort out those full back positions!

 

[Shrimperstrust]

The full Liaison Minutes are available on the Trust's Website www.shrimperstrust.co.uk, where you can also buy your last minute Xmas gifts from the Trust's Own Shop or from a host of Major Retailers at www.buy.at/ShrimpersTrust.

Sorry for the plug, but it is getting close to Xmas  

 

[Firestorm]

My first thought was that in trying to buy Delancey out now RM is hoping to maximise SEl's revenue from the FF development. Assuming that the offer being made is less than the current figure Delancey expect to make, the sweetener for Delancey being that they get all the money they have put in to date back now as opposed to when FF is finished in addition to there being no further requirements for cash from Delancey.

The concern is the funding, at the moment all of our debt is to one organisation, who despite not being overly keen on the "investment" they have ended up with are highly unlikely to wind us up. Compare this to the likes or Wrexham, who owe a number of people, including the most common "winder upper" of football clubs, the Inland revenue.
So will the new funding be as accomodating ? Is it a loan (or number of?) where interest is due ? or is a a group of individuals with a bit of spare cash (I doubt) . Will the investors expect a regular payout from SEL post FF or will they get a one off payment at completion like Delancey were going to get ?

Personally, if it means that SEL get a bit more at the end of the FF / RH redevelopment to plough into SUFC then its ok by me, as long as there aren't any Anton Johnsons tucked away in the background here.....

 

[Upminster Blue]

Interesting, I see that the site will now only be 20 acres rather than the hoped for 50 acres. I guess this means a smaller and less grand stadium so that all the "enabling development" can be fitted onto the site.

Hopefully we'll end up with something better than Chester, Northampton & Sc**thorpe but I'm not holding my breath. At least Ron's willing to listen to supporters comments and Fossets Farm appears to be progressing, although much slower than we would like.

(By the way, what is the Shrimpers Trust Army Fund?)

 

[Beaver]

Quote[/b] (Upminster Blue @ Dec. 09 2004,13:56)](By the way, what is the Shrimpers Trust Army Fund?)

A new scheme the Trust are looking at.

More details will follow when finalised.

 

[Upminster Blue]

Quote[/b] (Firestorm @ Dec. 09 2004,13:39)]My first thought was that in trying to buy Delancey out now RM is hoping to maximise SEl's revenue from the FF development. Assuming that the offer being made is less than the current figure Delancey expect to make, the sweetener for Delancey being that they get all the money they have put in to date back now as opposed to when FF is finished in addition to there being no further requirements for cash from Delancey.

Agreed - taking the really positive view of this, Delancey (being removed from the day to day issues) want out of their "investment" and would be happy to take some form of (lower?) upfront payment. Whereas, RM is increasinlgly bullish of the potential success of the project (good news for us). Hence his willingness to increase his investment. Everyone's a winner?

One question, does RM have the cash to buy-out Delancey? If not, the payments might be partially contingent on the success and revenues generated by FF but with some of the downsider risks taken away for Delancey.

 

[Firestorm]

Do I assume that the relief road mentioned as taking up some of the space is this proposed new Northern relief road which Rochford Council are vehemently against ?

As for the 20 Acres we are not getting. I would guess that Lansbury have found a better deal now that the B&Q has got the nod. Its beginning to make that error of Judgement with Swan Hill look very expensive.....

 

[steveh1510]

So, if RM buys out Delancey, will club actually be in any debt? Presumably we'll owe money to SEL, but will this be a debt (as such), as they will be owned by RM, who'll get the money back from the Fossetts Farm development?

 

[Firestorm]

Quote[/b] (steveh1510 @ Dec. 09 2004,14:14)]So, if RM buys out Delancey, will club actually be in any debt? Presumably we'll owe money to SEL, but will this be a debt (as such), as they will be owned by RM, who'll get the money back from the Fossetts Farm development?

True, except that "RM said that he had placed a Fully Funded proposal to Delancey to acquire their 50% shareholding in SEL" insinuates that funding has been sought, as opposed to just popping down the cashpoint for the odd 8M quid..

 

[The General]

Im confused.

 

[blues_r_best]

Quote[/b] (The General @ Dec. 09 2004,14:29)]Im confused.

Same here, the only thing I could add is that I thought we were in £6M in debt instead of £8M.

 

[Firestorm]

Quote[/b] (blues_r_best @ Dec. 09 2004,14:30)]

Quote[/b] (The General @ Dec. 09 2004,14:29)]Im confused.

Same here, the only thing I could add is that I thought we were in £6M in debt instead of £8M.

In all honesty I just used 8 M as a number, How much is the bid ? God knows ,but thinking that it will include paying back the debt, paying off an element potential profit in the FF/RH developments it has got to be a good few bob....

 

[sufcintheprem]

Quote[/b] (steveh1510 @ Dec. 09 2004,14:14)]So, if RM buys out Delancey, will club actually be in any debt? Presumably we'll owe money to SEL, but will this be a debt (as such), as they will be owned by RM, who'll get the money back from the Fossetts Farm development?

Or even, as RM has hinted, might SEL actually continue to hold the club under its ownership, removing all debt from the club, other than the debt SEL could recoup from selling the club?


(I think technically this fits more in to FF forum or the trust one but then I don't entirely agree with the moving of some topics!)

 

[Napster]

Quote[/b] (sufcintheprem @ Dec. 09 2004,14:15)](I think technically this fits more in to FF forum or the trust one but then I don't entirely agree with the moving of some topics!)

Nah, it's Southend first and foremost.

 

[The Artful Shrimper]

Quote[/b] (Firestorm @ Dec. 09 2004,14:27)]True, except that "RM said that he had placed a Fully Funded proposal to Delancey to acquire their 50% shareholding in SEL" insinuates that funding has been sought, as opposed to just popping down the cashpoint for the odd 8M quid..

This isn't the Jeff King rumour mkII is it?

 

[* ORM *]

Quote[/b] (Napster @ Dec. 09 2004,13:18)]From the Trust's latest liaision minutes:

(RM) said that under the Option they now have 20 acres whereas RM would have preferred the original 50 acre proposal...RM said that he wanted the new stadium to be able to be increased to about 22,500 capacity and feels that in an “immediate” catchment area of 300,000 and 750 within 15 miles, gates could be greatly improved.  He said that he had had meetings with the council and who remained supportive of the proposed stadium relocation.

RM said that he had placed a Fully Funded proposal to Delancey to acquire their 50% shareholding in SEL.  Delancey have said they want out and were carrying out an appraisal to see if they are getting value from the proposed buy-out...
He said that that was the deal he was proposing to Delancey and although it is not confidential it is important to achieve a resolution in order to move forward.  He said that if and when the deal happens he may form a new co. or keep it as SEL UK Ltd...He said that if and when the deal was done with Delancey he wanted to discuss fully with the Trust what the supporters wanted at the new stadium. He said that he looked forward to our input...He said that the finance required at the Club hasn't been provided by from SEL for nearly two years...RM said that there was no conflict between Ron Martin owning Martin Dawn and Martin Dawn/SEL owning 100% of the Club. He said that he wants to return the stadium to the supporters and also wished to remove the debt.


Thoughts? There is more, but I've selected the juicier stuff.

Well isn't that just dandy ! Even better news is that they're going to consult the fans asking for ideas for the new stadium for which the plans were being submitted during the summer (oops).

Meanwhile, in the real world......

1) When are we getting a new stadium ?

2) When (if) are plans likely to be submitted ?

3) Is there any truth whatsover in the rumoured plans for Franchise FC mach II ?

 

[Benfleetshrimp]

Quote[/b] (* ORM * @ Dec. 10 2004,19:25)]Is there any truth whatsover in the rumoured plans for Franchise FC mach II ?

What are the rumours surrounding this?

 

[Guest]

As our ideas for the ground are being asked for on the new ground, i can say for definite the current food contract holders should not have their contract renewed when we move.

Crap selection and run out when we get anything close to a decent crowd.

Bruce Shrimpsteen

Born to Shrimp