SO when will the takeover go through?

[LBBlue]

"Perhaps one of the most frequently asked questions, due diligence can take anything from 30 days to 6 months. The length of time will vary by company type, size and of course the complexity of the potential deal."

Complex deal ?

Looks pretty complex to me ….
https://democracy.southend.gov.uk/d...t of Executive Director Environment Place.pdf

 

[annie1954]

Horrendous I assume you too have heard that some of the original 10 are about to possibly crumble ? And who could blame them

That’s strange I’ve also heard from a couple of people some of the consortium are not two happy at the moment , but could just be rumours . as you say who could blame them

 

[SS9_Shrimper]

It is sad to hear that some may be crumbling, as in truth, the losses will always continue. What was their end game if they are talking about bailing now? It's not like when the deal goes through and they suddenly own a slice of the club and the tangible assets that people will be chomping at the bit to be purchasing their stake for a higher price. We are a National League club.

Football clubs rarely make money, and a beer tent and a 1000 more attending per game aren't going to turn the ship around. Pretty sure John has a good idea of this and that the losses will have been explained to everyone, and the required funding gap for the next 5 years for instance, until we could regenerate the ground. Maybe some just got sucked in by the hype but don't have the cash to back it up?

I hope it's just posturing to apply pressure to get it over the line.

 

[Maldon Shrimper]

Looks pretty complex to me ….
https://democracy.southend.gov.uk/documents/s61626/Report of Executive Director Environment Place.pdf

Thanks for posting explains a lot and why the delays due to the complexities

 

[gatecrasher]

The potential for the club is so huge and if the consortium could of come in and it been a clean sale I could see us tracking back uo to the championship at some point in the next decade.

As it stands, it's nothing has changed as nothing has been allowed to because of the greed of two rodents

 

[leeblue]

Sadly, yes. We have two weeks tops.

Chief been spot on throughout this sorry affair.....listen to him.
Consortium will walk.

 

[RHB]

Chief been spot on throughout this sorry affair.....listen to him.
Consortium will walk.

Is it obligatory just now, or can I have a few weeks to think about it??

 

[Barry.C]

Looks pretty complex to me ….
https://democracy.southend.gov.uk/documents/s61626/Report of Executive Director Environment Place.pdf

6 months then would be end of October for a complex DD ? Is that before the Auditors get to review the lot? Happy Xmas

 

[Grayson]

Chief been spot on throughout this sorry affair.....listen to him.
Consortium will walk.

I think the interview on BBC Essex made that clear too. They will not tolerate this deal dragging on or funding another spoiled season - and rightly so.

I hope that this level of ultimatum is what finally pushes things to a completion, but I won't hold my breath.

 

[Linda Loan Shark]

We need to get @CRATE back on the scene!

 

[JCB]

We need to get @CRATE back on the scene!

Do we?!

 

[Holy Joe]

I think the interview on BBC Essex made that clear too. They will not tolerate this deal dragging on or funding another spoiled season - and rightly so.

I hope that this level of ultimatum is what finally pushes things to a completion, but I won't hold my breath.

I thought the interview was clear that they wouldn't walk, but neither was the deal certain to go through - ie someone else could make a decision that means the deal cannot close.

 

[Linda Loan Shark]

Do we?!

He put pressure on Martin

 

[southendkid]

It is sad to hear that some may be crumbling, as in truth, the losses will always continue. What was their end game if they are talking about bailing now? It's not like when the deal goes through and they suddenly own a slice of the club and the tangible assets that people will be chomping at the bit to be purchasing their stake for a higher price. We are a National League club.

Football clubs rarely make money, and a beer tent and a 1000 more attending per game aren't going to turn the ship around. Pretty sure John has a good idea of this and that the losses will have been explained to everyone, and the required funding gap for the next 5 years for instance, until we could regenerate the ground. Maybe some just got sucked in by the hype but don't have the cash to back it up?

I hope it's just posturing to apply pressure to get it over the line.

The bit in bold is the problem, it isn't "when" the deal goes through, it's "if".

 

[defender05]

He put pressure on Martin

And how did that deal go?

The last thing we need is both parties using this forum to score points over each other again.

 

[TheCowboy]

We need to get @CRATE back on the scene!

yep thats what I want to know, from what I understand he will definitely sort this!! him and Meadway Shrimper will flatten this out no problem.

 

[AlfaShrimper]

Do we?!

He was entertaining atleast.. who remembers the talk sport interview where they said he was involved in the consortium!

 

[meerkat54]

Is it obligatory just now, or can have a few weeks to think about it??

RHB that could easily be a quote from the ‘s book

 

[RHB]

We need to get @CRATE back on the scene!

No we don't.

 

[Grayson]

I thought the interview was clear that they wouldn't walk, but neither was the deal certain to go through - ie someone else could make a decision that means the deal cannot close.

Interesting how we interpret things differently. To me, the below very much implies that this cannot go on much longer.

From BBC:

"We have demonstrated pretty strongly we would not walk away from this deal very lightly, but everyone has their limits," Rees told BBC Essex. "We are optimistic that it will go through, but we're always cognisant that it's not in our control."

"We can't give carte blanche whether we will or won't walk away. Others will decide whether this deal goes through," he continued.

"We can't be expected to keep funding a club for another X months with a disrupted pre-season, so we really do need this process to close. It is time for this to be done one way or the other."