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Latest Rumours SUFC up for sale

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Yesterday was Ron sitting in the Last Chance Saloon basically with a begging bowl. He needs a relatively quick sale, he has no further ways of raising capital.

I hate to say it, but if no deal is sorted quickly, we will go into administration over the Summer. He is not putting any further money into the club not by choice, but because he is not able to do so. With our debts mounting and staff still unpaid, the future actually looks quite bleak at the moment in my opinion without a cash injection from a new owner or 'partner'.
 
I think he tried to borrow 5 mill which would probably have carried us through to the start of FF when we were told big money would come in but was unable to and only got the 2 mill through one of his sons companies to pay immediate bills.

He is now stuck and the only way out is to try to get some money by selling the club. He is over leveraged with loans already.

As I have said previously though the club is worthless with the debts it has around it and no assets.

It will be a miracle If we get out of this and the club survives. He is not trying to be a saviour to us at the last hurdle he has no choice unless he wants to be seen as the man who finally sunk the club.

No buyer will see us go with RM saying I tried my best as you all know and saw as he rides off into the sunset with millions to come.

Let us all hope that does not happen.
 
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Yesterday was Ron sitting in the Last Chance Saloon basically with a begging bowl. He needs a relatively quick sale, he has no further ways of raising capital.

I hate to say it, but if no deal is sorted quickly, we will go into administration over the Summer. He is not putting any further money into the club not by choice, but because he is not able to do so. With our debts mounting and staff still unpaid, the future actually looks quite bleak at the moment in my opinion without a cash injection from a new owner or 'partner'.
Others have mentioned that to sell a football club ( assuming there have been no negotiations ongoing for a time? ) takes months not weeks?.
On that basis the next few months will be critical. The recent loan of what ever amount will start to be repaid, & the budget for next season needs to be sorted for starters. Add on the current debts still to be repaid, the safety cert costs for Roots Hall for another season, relaying the pitch & most importantly whether there's enough left to strengthen the squad which def needs doing. Plus in all probability HMRC will be knocking on the door again?.
And if our cash flow for these months solely depends on season tickets being renewed, then i fear that won't be enough for what's needed?.
But if the worst scenario happened & receivership loomed, surely this would affect RM's project big time?.
 
You needed an umbrella morso in the toilets than outside. It was flooded with rain pouring in.
 
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Others have mentioned that to sell a football club ( assuming there have been no negotiations ongoing for a time? ) takes months not weeks?.
On that basis the next few months will be critical. The recent loan of what ever amount will start to be repaid, & the budget for next season needs to be sorted for starters. Add on the current debts still to be repaid, the safety cert costs for Roots Hall for another season, relaying the pitch & most importantly whether there's enough left to strengthen the squad which def needs doing. Plus in all probability HMRC will be knocking on the door again?.
And if our cash flow for these months solely depends on season tickets being renewed, then i fear that won't be enough for what's needed?.
But if the worst scenario happened & receivership loomed, surely this would affect RM's project big time?.
If we don't get a buyer with deep pockets I would say next season is very much in doubt, the season ticket money that comes in will only pay towards historic debts, HMRC some wages and maybe a few other bits. RH has to be sorted if we are there for 2 more years its disgusting. .We are so far behind with debts mounting up I cannot see how we would last.
 
Fans who have questioned protests or boycotts, saying they are a waste of time, Ron’s not going anyway need to be taking a long hard look at themselves today.
Hindsight is a wonderful thing!

Your constant obsession with picking at those who chose not to protest/boycott is just weird. It’s peoples personal choice and some thought we were stuck with him because that’s the way it’s always looked.

I was one of those, am I glad he’s seen the light and decided to sell? Absolutely!

Do I regret not doing more in the protests/boycotts? No!

You cannot say if this had been done earlier that it would’ve change his mind earlier. We all know Ron is a stubborn old mule and he has only got to this point because he has run out of options to keep it himself.

Why not just be happy that we have finally got to this point now, rather than picking at fans who made a decision not to join in protests or boycotts.
 
If we don't get a buyer with deep pockets I would say next season is very much in doubt, the season ticket money that comes in will only pay towards historic debts, HMRC some wages and maybe a few other bits..We are so far behind with debts mounting up I cannot see how we would last.
Reluctantly i agree with you. But supposing for arguments sake there was an interested buyer waiting in the wings. Would it be worth them waiting to see if the club went into receivership as then the purchase price would be somewhat less than otherwise?.
 
Reluctantly i agree with you. But supposing for arguments sake there was an interested buyer waiting in the wings. Would it be worth them waiting to see if the club went into receivership as then the purchase price would be somewhat less than otherwise?.
But what are they buying. With the club gone RM still has all the money in the assets left which he owns regardless.
 
Hindsight is a wonderful thing!

Your constant obsession with picking at those who chose not to protest/boycott is just weird. It’s peoples personal choice and some thought we were stuck with him because that’s the way it’s always looked.

I was one of those, am I glad he’s seen the light and decided to sell? Absolutely!

Do I regret not doing more in the protests/boycotts? No!

You cannot say if this had been done earlier that it would’ve change his mind earlier. We all know Ron is a stubborn old mule and he has only got to this point because he has run out of options to keep it himself.

Why not just be happy that we have finally got to this point now, rather than picking at fans who made a decision not to join in protests or boycotts.

Agree - he wouldn't have run out of money any sooner if we'd all been marching down Victoria Ave last August.
 
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