Ron Martin speaks to Chris Phillips

[Mick]

Not this year!

You missed post #241 obviously.

 

[mfurok]

You missed post #241 obviously.

Correct.

I was going through in order and hadn’t yet come across your correction.

Any idea re my question about Freddy?

 

[RHB]

You missed post #241 obviously.

Correct.

I was going through in order and hadn’t yet come across your correction.

Any idea re my question about Freddy?

You chaps are doing quite well in the point scoring league.

 

[mfurok]

You chaps are doing quite well in the point scoring league.

Yeah but what about why Freddy isn’t one of the youths given an opportunity?

 

[Tangled up in Blue]

What if he had allowed Sainsburys to buy them instead........Have you considered that.

Lots of football clubs were being sold for £1 back then, even Chelsea.....How comes you never bought one?

What I think about a lot is that the original SUSC gifted the ground to the Rubins family for nothing back in the day.Don't think any supporters club organisation would be mad enough to do that nowadays.

 

[fbm]

It's all very well to say the club now has no assests but who bought up those assets ie Roots Hall and Boots and Laces at less than their market value back in the day? The Chairman that's who.

There wasn't a queue of people behind Ron offering more... he's a developer, he'll make money in the end.

I'll bet he didn't think it would cost him £20m+ though...

 

[fbm]

It's getting late, i've had a few beers & am also confused.
If that scenario occurred, who would pay him the debts incurred?.

Whatever is recovered, he'll be the major creditor. If the club goes under and the settlement is, say, 20p in the pound, £90% of it will go to Ron.

The secured debts will be paid in full, so any mortgages on land etc get redeemed first. This is why Westy's idea of throwing all into one debt ridden company and then selling that or winding it up doesn't work.

 

[Tangled up in Blue]

There wasn't a queue of people behind Ron offering more... he's a developer, he'll make money in the end.

I'll bet he didn't think it would cost him £20m+ thoug...

He certainly seems to think he still can.Not sure many would agree with him though.

I agree with your last comment,btw.

 

[Cricko]

Whatever is recovered, he'll be the major creditor. If the club goes under and the settlement is, say, 20p in the pound, £90% of it will go to Ron.

The secured debts will be paid in full, so any mortgages on land etc get redeemed first. This is why Westy's idea of throwing all into one debt ridden company and then selling that or winding it up doesn't work.

But the club don't own anything at all..RM owns the lot.. Am i missing something here?

 

[HypoTypo]

But the club don't own anything at all..RM owns the lot.. Am i missing something here?

No your not. If the club went into administration, god knows how they would sort it out. I think the pitch is divided by 8 and shared between 8 different companies. (I joke but it wouldn't surprise me).

And yet another winding up order yesterday, despite RM saying HMRC was paid in January.

 

[wildheart]

Not sure why Oxford are on your list, but as for the rest of them, we seem to be heading in the same direction. All the years of poor decision making, financial irresponsibility and robbing Peter to pay Paul plus the delusional promised land of FF are finally catching up with Martin. The EFL have got him in their sights now. Few outside the area would shed any tears nor would there be any outcry about the demise of an unremarkable lower division club with no memorable tradition or history to mourn and it would serve as a warning to others. As a supporter for nearly sixty years, tbis really does feel like we are approaching the endgame and it is distressing beyond words to contemplate Southend United being no more. Being fed a constant diet of patronising platitudes, half truths and evasions masquerading as meaningful statements only makes things worse.

At last a post that tells it, how it really is. I can’t believe that many Shrimpers would still hold RM’s hand and he leds us over a cliff. It maybe to late for us already? I’m certainly not applauding this chancer as he wrecks what left of our future. RM is not liked by many influential parties who are quietly enjoying our plight. Ten years ago he should have walked away, but he didn’t now we are all on the back of the bus balancing on the edge of a precipice!

 

[The Big Dady]

But the club don't own anything at all..RM owns the lot.. Am i missing something here?

The only thing the club "owns" is the players registrations.

It has no other assets, no stadium, no land, no training ground, they were sold years ago.

 

[Cricko]

The only thing the club "owns" is the players registrations.

It has no other assets, no stadium, no land, no training ground, they were sold years ago.

Exactly a major creditor for one of your own companies that has absolutely sweet FA.

 

[fbm]

But the club don't own anything at all..RM owns the lot.. Am i missing something here?

The club owns something... and if it went into administration, presumably it owns the players contracts?

 

[fbm]

Exactly a major creditor for one of your own companies that has absolutely sweet FA.

But (not with the current wage bill I grant you) but with a wage bill of last season or even this season, the contracts are worth 6/7 figures. That's what comes mainly back to Ron if he is the major creditor... of course the contracts may just expire worthless, but if it happened NOW and people like ELvis and Charlie had 3 or 4 year deals...

 

[Cricko]

The club owns something... and if it went into administration, presumably it owns the players contracts?

They would not be worth the paper they were written on. Presuming the club going in admin would not have paid the players wages.(we have enough trouble doing that as it is now) the contracts would surely be null and void.

 

[THE SEVENTIES NORTH BANK]

The club owns half a soccer dome. It did own a full one, until the fire.

 

[The Big Dady]

But if the club was wound up, the players could walk, as their contracts would be void/cancelled.

 

[Cricko]

The club owns half a soccer dome. It did own a full one, until the fire.

I am not sure which company paid for that thing that is going rusty all over BL. 500k wasnt it on some vanity project of RM's. If it was the club that amount would help us greatly atm.

 

[HypoTypo]

I am not sure which company paid for that thing that is going rusty all over BL. 500k wasnt it on some vanity project of RM's. If it was the club that amount would help us greatly atm.

Probably worth sweat F A now. It is these constant impulse choices he makes that has run us into the ground. Chances are he will run out of luck soon and the big boys will go at him with all weapons armed.