Latest Rumours SUFC up for sale

[stewart]

Given Kimura haven't even publicly acknowledged they are trying to buy the club, I don't know where you have got that little nugget of info from.

Please feel free to share the link.

Im sure i read something to that effect after the court case, maybe it was from the post from what the excited Jackson put out.

 

[stewart]

No Kimura never made that statement. Also, RM will need a whole lot more than £250k to pay ALL creditors and comply with the latest Court Order.

im sure i read something to that effect somewhere

 

[westie]

im sure i read something to that effect somewhere

Extract from the Club statement for clarity:
On 12th July 2023, the winding up petition will be back before the Court. In advance of that date, the Club must pay the petition debt (due to HMRC) and the debt of those supporting the petition, we also need to bring staff salaries up to date.

 

[Yer Blues]

Im sure i read something to that effect after the court case, maybe it was from the post from what the excited Jackson put out.

Again, they haven't publicly acknowledged they are trying to buy the club.

Even if you did read that somewhere ( though I think you either misread or misunderstood whatever it was) why would they publicly say that?

Not everything you read (or think you read) is true.

It's a highly complex deal involving a football club, 2 potential land deals and a shed load of financial complexities, it's not likely they are waiting for Ron to find £250k when it'd been reported there are multiple other parties part of the winding up order.

 

[stewart]

Extract from the Club statement for clarity:
On 12th July 2023, the winding up petition will be back before the Court. In advance of that date, the Club must pay the petition debt (due to HMRC) and the debt of those supporting the petition, we also need to bring staff salaries up to date.

I read it somewhere , because i remember thinking to myself why cant Kimura pay that and deduct said amount of what they have quoted to RM in the takeover bid,.

 

[TJC]

He would need to alter the current conditions in the approved planning permission. No idea if the council would agree to the changes.

Sadly, I think they would in order to get additional housing. Is there still a quota for councils to meet or was that dropped?

 

[meerkat54]

Didnt Kimura say they were waiting on RM to pay off the debts to finalise the deal. If so just be patient everyone, To do that RM will need to get that 250k he told the courts he could.

Ron’s probably applying for another bridging loan then .

 

[hlane17]

I read it somewhere , because i remember thinking to myself why cant Kimura pay that and deduct said amount of what they have quoted to RM in the takeover bid,.

I believe someone said it on here, but they were thinking out loud rather than claiming that it was the case.

 

[Richard Hearn]

What's the point in appointing a professional company to handle the sale if you are doing everything yourself?

The sort of person that wouldn't trust their own mum.

I think that he is probably what a psychiatrist or psychotherapist would label as a Narcissist.

 

[Callum]

Well he's provided evidence to the court that either the sale of the club, or him selling land will pay off the winding up order.

So whilst unlikely, its not impossible.

Long term mate we need these new owners I mean wages not being paid disgraceful

 

[Crowstone Crevette]

Sadly, I think they would in order to get additional housing. Is there still a quota for councils to meet or was that dropped?

The quotas were changed from mandatory to councils being able to opt out by Michael Gove back at the beginning of December 2022.

Mandatory quotas simply don't exist!

 

[gpd]

I'm hoping Kev and his team stick around to be part of this new project (when it happens). No-one would begrudge them seeking pastures new. Goodness knows what they have had to put up with day-to-day. But maybe when we have new owners there will be a new relationship between owner and management, money made available and we can get the players we need to push for promotion next season.

 

[Yorkshire Blue]

I believe he is handling near enough everything himself with a little input from his solicitor, and even less (next to none) from Moxey. So yes, that terrifies me!

This would be standard for the sale of a company. Agents don’t really do much once a buyer has been found (like when buying a house they may send lots of emails and leave lots of voicemails but these are for show and don’t actually move the process on). The bulk of the work at this stage is really on the buyer’s side with conducting the due diligence to ensure the buyer is buying what it thinks it is buying. The seller’s work at this stage is dealing with information requests for the due diligence and that’s predominantly the seller rather than their solicitors.

I’m intrigued as to who his solicitor is on this. Is it being led by a Property or Corporate specialist? That may give us a glimpse as to whether this deal from Ron’s perspective is really about the club or the stadium. As I hinted at previously, the seller’s solicitors would need to be more involved if the deal includes an agreement to build a new stadium but that is a much more complicated agreement and will invariably be a more drawn out process.

 

[cerbera45]

Didnt Kimura say they were waiting on RM to pay off the debts to finalise the deal. If so just be patient everyone, To do that RM will need to get that 250k he told the courts he could.

The NDA would still be in effect.

 

[yogi bear up the cagire]

Although I hope this torture will soon be over, hearing no news doesn't particularly worry me. It's just the fear of hearing bad news which would 'kill' me.

 

[kentblues]

Didnt Kimura say they were waiting on RM to pay off the debts to finalise the deal. If so just be patient everyone, To do that RM will need to get that 250k he told the courts he could.

We not entirely wide of the mark. It may well be that the price of the football club has been negotiated free of debt at the point of sale. Makes the transaction, which in the end is only for a small £4m turnover company, easier as well. So random numbers- Kimura buy for £5m, out of that £5m Ron settles outstanding debts (excluding interco) as at the sale date keeping anything left over. This would explain the barrister's comment about Ron settling the WUP debt "out of the sales proceeds".

Ms Stonefrost told the judge that a sale would raise funds to clear the HMRC debt and pay other creditors.

The complicated bit all along has been the stadium.
What happens until its built?
How does the sale/lease price of what will be built get set?
What happens if FF doesn't happen?
To what degree do Kimura need certainty upfront and contractually? And likewise Ron?

Will be very interesting to see how its structured to put it mildly.

 

[overseas shrimper]

We not entirely wide of the mark. It may well be that the price of the football club has been negotiated free of debt at the point of sale. Makes the transaction, which in the end is only for a small £4m turnover company, easier as well. So random numbers- Kimura buy for £5m, out of that £5m Ron settles outstanding debts (excluding interco) as at the sale date keeping anything left over. This would explain the barrister's comment about Ron settling the WUP debt "out of the sales proceeds".

Ms Stonefrost told the judge that a sale would raise funds to clear the HMRC debt and pay other creditors.

The complicated bit all along has been the stadium.
What happens until its built?
How does the sale/lease price of what will be built get set?
What happens if FF doesn't happen?
To what degree do Kimura need certainty upfront and contractually? And likewise Ron?

Will be very interesting to see how its structured to put it mildly.

And maybe 'what input might Kimura want in the stadium design / spec'.

 

[Jasrod]

We not entirely wide of the mark. It may well be that the price of the football club has been negotiated free of debt at the point of sale. Makes the transaction, which in the end is only for a small £4m turnover company, easier as well. So random numbers- Kimura buy for £5m, out of that £5m Ron settles outstanding debts (excluding interco) as at the sale date keeping anything left over. This would explain the barrister's comment about Ron settling the WUP debt "out of the sales proceeds".

Ms Stonefrost told the judge that a sale would raise funds to clear the HMRC debt and pay other creditors.

The complicated bit all along has been the stadium.
What happens until its built?
How does the sale/lease price of what will be built get set?
What happens if FF doesn't happen?
To what degree do Kimura need certainty upfront and contractually? And likewise Ron?

Will be very interesting to see how its structured to put it mildly.

Is it possible that Ron would sell the land with planning permission attached? Would this not be more valuable to Ron?

 

[Callum]

I’m hoping this gets done soon can’t risk losing out on more players fingers crossed maybe a few transfers on top of the sale I’ll be happy with that

 

[Holy Joe]

Is it possible that Ron would sell the land with planning permission attached? Would this not be more valuable to Ron?

He needs a stadium built at FF before he can start building at RH and before housing at FF can be occupied. So he could sell the stadium land, but he would need assurances that the stadium (phase 1) is built asap to enable the rest of the development