Latest Rumours SUFC up for sale

[Medway Blue]

Concerning at first glance, but I'm tired and my brain is mush so I might be reading it wrong. Looks to me like, whilst we've shrugged off the debts to RM as "paper debt", this looks like he's actually saddled the club with a real debt....?

 

[hlane17]

https://twitter.com/x/status/1638672079233900547

Reading this, it seems like a filed charge referring to the £2m funding secured prior to our court case. Nothing new on that part.

Also notable that there is no property mentioned in the schedule. Presumably because the club (SUFC Ltd.) has no assets to secure it against?

Is RH Ltd in this case signing up as a guarantor? It appears so to me...

 

[Liam AAS]

Ron Martin doing Ron Martin things

 

[Liam AAS]

The charge is basically against everything on the balance sheet. I read it as Ron using Jack to get a loan as Roots Hall ltd also registered a charge for a loan from CBRE on the same date.

The club has 3 outstanding charges against it: Roots Hall ltd (March '23, South Eastern Leisure UK ltd (Dec '99) and The Royal London Mutual Insurance Society Limited (July 2007)

 

[stewart]

I dont understand all this jargon, but it seems to me a bit shady ,now if someone came along and paid that RH ltd debt would they then own SUFC..

 

[londonblue]

Are you on the selection panel for the audition I recently went to then? Is this your way of saying I didn't get on the show?

That's it, humiliate me on a public forum, why don't you...

If you're prepared to go on a cringeworthy programme like that then humiliation on here really ought to be the least of your worries!

 

[Cricko]

Concerning at first glance, but I'm tired and my brain is mush so I might be reading it wrong. Looks to me like, whilst we've shrugged off the debts to RM as "paper debt", this looks like he's actually saddled the club with a real debt....?

So RM lied when he said that the new owner would be getting the club for 2 mill less than 2 weeks ago, He/his son seems to have saddled that debt onto the club so the new owner pays for the old "Covid" tax debt and the players late wages or am I reading this wrong? How on earth do we continue until the club is bought.

 

[Barry.C]

Rons World of greed, obfuscation and decay knows no bounds

 

[pottster]

I would imagine that is the price of the club, 2 million plus a pound to take it off his hands. He may have someone lined up and getting his ducks in a row for an easier transaction.

 

[Kat_r]

So RM lied when he said that the new owner would be getting the club for 2 mill less than 2 weeks ago, He/his son seems to have saddled that debt onto the club so the new owner pays for the old "Covid" tax debt and the players late wages or am I reading this wrong? How on earth do we continue until the club is bought.

Hes a chancer.

Well done to kl for standing up to him

 

[Barling Magna]

How r u so sure ,there will b another ‘Wrexham ’& ‘Notts Co ‘ next year

I doubt it. The two coming down are unlikely to set the division on fire. Chesterfield, Daggers may get more cash certainly but otherwise.......

 

[Jai]

I doubt it. The two coming down are unlikely to set the division on fire. Chesterfield, Daggers may get more cash certainly but otherwise.......

Oldham will be up there next season as well. They've been steadily improving their squad all season. Wouldn't be at all surprised if they finished above us this season too.

 

[kentblues]

Reading this, it seems like a filed charge referring to the £2m funding secured prior to our court case. Nothing new on that part.

Also notable that there is no property mentioned in the schedule. Presumably because the club (SUFC Ltd.) has no assets to secure it against?

Is RH Ltd in this case signing up as a guarantor? It appears so to me...

Quite simple really loan via CRBE was to RHL as that entity holds the assets. AS we suspected it would be.

RHL lending to SUFCL with a charge back to backs this and likewise positions them as a secured creditor.

So loan to RHL based on charge over RHL assets, loan (or part of it) forwarded on to SUFCL likewise with charge over SUFCL assets. Nothing remotely unusual. Just because SUFCL has limited assets now doesn't mean they won't have some point in the future.

 

[kentblues]

Hes a chancer.

Well done to kl for standing up to him

Once again. The club will be sold for what it is worth. What its worth is what someone will pay. The more debt at point of acquisition the less they will pay. Net net he is not going to benefit from increasing the clubs debt, as a buyer will simply reduce what they are willing to pay similarly.

 

[SPALDINGBLUE]

my head hurts from all of this to and fro of the different debts owed and mortgages etc,
is there someone on here that can summarise exactly what is owed , are we talking to £25million to Martin, or is the debt higher. Is anyone buying the club ,going to own anything other than the name, or will they get a 3 sided stadium and thats it, will they own the retail outlets, etc. West Ham got themselves a good deal , brady and the 2sex pests(sorry 1 !!) get the local citizens to pay towards the stadium and take the profits from the outlets I believe

 

[SPALDINGBLUE]

Town needs more train spotters, sorry the City needs more train spotted to come back and support the blues

 

[SPALDINGBLUE]

Town needs more train spotters, sorry the City needs more train spotted to come back and support the blues

not with the services round here, dont even have a sunday service !!

 

[Barling Magna]

not with the services round here, dont even have a sunday service !!

Who on Earth would want to visit Spalding on a Sunday? It's closed.

 

[SPALDINGBLUE]

will be this tuesday first

Who on Earth would want to visit Spalding on a Sunday? It's closed.

will be this tuesday , first final in 30 years at sincil bank v grantham, was hoping to play grimsby in the final ,but grantham knocked them out we knocked out scunthorpe and boston along the way , theres even 2 supporters coaches going , not like the old days of away games , booze and drug bus, hey ho things change

 

[Stan33]

I doubt it. The two coming down are unlikely to set the division on fire. Chesterfield, Daggers may get more cash certainly but otherwise.......

There r 20 odd other teams