Latest Rumours SUFC up for sale

[WestyReturns]

Patience people...its not healthy spending all day on shrimperzone. There's a real world out there. It will happen.

 

[shrimperjon]

I think we should stick to the topic of the thread apart from tonight.

View attachment 26623

Be Kent vs Essex T20 for me. No interest in watching West Ham and especially in the tin pot of all tin pot trophies

 

[Richard Hearn]

West Ham game so Big Ray will be there

Forza I Viola!

 

[Spaceman Spiff]

I totally agree with getting back on topic (this thread is long enough as it is), however, if you think 'smashing the granny' out of someone is about hoolies and violence... well...

I was more alluding to the direction of travel of some of the responses. Also not everyone is as clued up with some of the lingo you street urchins use! Anyway, back to takeovers….

 

[Westcliff DGS]

If it's that close and with their solicitors then there is nothing else they can do

So you do not htink they should be around in case of any issues that pop up ? I am just surprised really, thought they would be here dealing with everything and ready to go at the earliest possible moment. Especially as right now as far as anyone knows (as has not been reported anywhere as yet) that no one is in a period of exclusivity

If a company I owned was spending a large sum on a new business venture I am sure I would be around just in case, maybe just me lol

 

[Shrimper]

So you do not htink they should be around in case of any issues that pop up ? I am just surprised really, thought they would be here dealing with everything and ready to go at the earliest possible moment. Especially as right now as far as anyone knows (as has not been reported anywhere as yet) that no one is in a period of exclusivity

If a company I owned was spending a large sum on a new business venture I am sure I would be around just in case, maybe just me lol

If something comes up at this time of day then it can wait until tomorrow

 

[cerbera45]

Purchasing any business is generally a very slow process. In some cases, it can take years of preparation and updates to get deals over the line. I have been in this situation and it is one of the most tiresome and stressful situations. From my experience, this is how things generally go.

In terms of this takeover a business that is currently in distress, means you have to consider many layers of complexity, but you generally would think that the “BUYER” would have many conditions to check.

Remember they would be liable for anything moving forward.
When buying a business out of administration is it sometimes actually easier as you dealing directly with the administrator, not the outgoing club directors. You would generally buy the assets only without the trading name, meaning they would have fewer liabilities associated with anything the previous owners did.

However, If they are purchasing the club (business) as a whole and not just the assets, i.e. Southend United Football Club Ltd, then there would be lots of liabilities and this is the reason it will take a while to go through.

1 - The buyers - They will have their own legal teams who will be looking for things to pick out. A club (business) like Southend may have many issues that need to be addressed before a takeover can be complete.

2 - The sellers - The current owners will also have their own legal teams, doing the same with anything that has been sent to them or conditions entered into any bids.

3 - Funders - Unless the money is coming directly from the buyer's back pockets, the funders of any deal will also have their own legal teams who will have conditions set on lending the money, (just like a mortgage when buying a house)

So you can go around for days in circles over the smallest of matters. Depending on the solicitors being used (compared to some transactions, this may not be top of their agenda, i.e. think of the club turnover, compared to some companies in London etc) They charge an awful lot per hour. So the bills can rack up.

This unfortunately is the same for anything in life, so I wouldn't get too stressed if it's come this far then that can only be a good thing. As others have said here, the issues surrounding the current and future stadiums will have a huge impact on a deal as they are funding opportunities for all involved. Keep the faith.

Thanks for the informative post.

 

[Spaceman Spiff]

This waiting patiently lark is hard work isn’t it!

Please please football gods smile on us and let this 25 year nightmare end quickly and positively (ok there were some great days too, a long time ago)…

 

[Chrisb]

This waiting patiently lark is hard work isn’t it!

Please please football gods smile on us and let this 25 year nightmare end quickly and positively (ok there were some great days too, a long time ago)…

It's akin to a divorce.

 

[Holy Joe]

So you do not htink they should be around in case of any issues that pop up ? I am just surprised really, thought they would be here dealing with everything and ready to go at the earliest possible moment. Especially as right now as far as anyone knows (as has not been reported anywhere as yet) that no one is in a period of exclusivity

If a company I owned was spending a large sum on a new business venture I am sure I would be around just in case, maybe just me lol

I'm sure they're contactable

 

[Gt Yarmouth Shrimper]

So you do not htink they should be around in case of any issues that pop up ? I am just surprised really, thought they would be here dealing with everything and ready to go at the earliest possible moment. Especially as right now as far as anyone knows (as has not been reported anywhere as yet) that no one is in a period of exclusivity

If a company I owned was spending a large sum on a new business venture I am sure I would be around just in case, maybe just me lol

WE have mobile phones and e-mail these days (even up here).

 

[Westcliff DGS]

WE have mobile phones and e-mail these days (even up here).

Very true but id still prefer to be hands on myself so it can all be sorted. You also get weak or no signal in stadiums and certain areas. So they may nit get that important call that RM has moved the goal posts

I just find it weird id want to be here where it is happening not watching a different team

 

[fbm]

People...

I have tried to say before, keep calm, it will be ok.

Ron wants out now. There is zero danger of him screwing this up to the point that he is stuck with it. It's not going to happen.

The winning bidders may well be Kimura. But there also may well be the other party pushing hard, so Kimura (who want it) will want the deal done.

Ron wants the best price (obvs) but will also want his liability to cease asap so he will also want the deal done.

There was great progress before the NL deadline of 2/6 and the next deadline is 12/7, so whilst it is hopeful that something may happen this week (my guess is tomorrow or Friday), we really won't have to wait that long.

Patience is a virtue. And if you want to feel better about it, stop predicting what Ron may do based on previous form. He is no longer in that place.

 

[CanveyCastle]

Yes season tickets will go up once Ron has sold

I am one of those.

 

[Shrimper]

People...

I have tried to say before, keep calm, it will be ok.

Ron wants out now. There is zero danger of him screwing this up to the point that he is stuck with it. It's not going to happen.

The winning bidders may well be Kimura. But there also may well be the other party pushing hard, so Kimura (who want it) will want the deal done.

Ron wants the best price (obvs) but will also want his liability to cease asap so he will also want the deal done.

There was great progress before the NL deadline of 2/7 and the next deadline is 12/7, so whilst it is hopeful that something may happen this week (my guess is tomorrow or Friday), we really won't have to wait that long.

Patience is a virtue. And if you want to feel better about it, stop predicting what Ron may do based on previous form. He is no longer in that place.

"Tomorrow or Friday"

You don't know what you've just started with that

 

[Medway Blue]

"Tomorrow or Friday"

You don't know what you've just started with that

I said earlier, it remains a possibility.

If this week and next week are the only options on the ballot paper then 55% probability next week, 45% this week for me at the moment.

 

[Jonh]

People...

I have tried to say before, keep calm, it will be ok.

Ron wants out now. There is zero danger of him screwing this up to the point that he is stuck with it. It's not going to happen.

The winning bidders may well be Kimura. But there also may well be the other party pushing hard, so Kimura (who want it) will want the deal done.

Ron wants the best price (obvs) but will also want his liability to cease asap so he will also want the deal done.

There was great progress before the NL deadline of 2/7 and the next deadline is 12/7, so whilst it is hopeful that something may happen this week (my guess is tomorrow or Friday), we really won't have to wait that long.

Patience is a virtue. And if you want to feel better about it, stop predicting what Ron may do based on previous form. He is no longer in that place.

Do you mean 2/6 and 12/6??

 

[fbm]

Do you mean 2/6 and 12/6??

Sorry... 2/6 and 12/7.
Now corrected

 

[tommy tucker]

The longer this goes on we will have zero chance of bringing in new players before pre season Also player out of contract may leave. So this must be done ASAP

 

[JD]

The longer this goes on we will have zero chance of bringing in new players before pre season Also player out of contract may leave. So this must be done ASAP

The most important thing is that the deal gets done, and Ron walks.
If that takes a few weeks, or a month, then so be it - if that means we miss out on some of our preferred players (currently) - then so be it, if that means we lose some of our out of contract players - then so be it.

When the deal is finally done, we’ll be far better off, longer term, for it.