Southend £1million Windfall

[Supershrimper]

We could all be talking about where the Iorfa money has gone in several years time.

http://www.echo-news.co.uk/sport/14558099.Blues_in_line_for___1million_windfall/?ref=mr&lp=3

 

[tottenham541]

Would of thought some prem side will complete a move for him meaning we will be quids in......well Ron will be:'(

 

[MK Shrimper]

Here's a picture of the black hole it'll fall into.

 

[Supernaut]

 

[Shrimpers are Magic]

Would of thought some prem side will complete a move for him meaning we will be quids in......well Ron will be:'(

Just as well Ron helps maintain the youth system which helps to keep the club running then.

 

[Blueronron]

We could all be talking about where the Iorfa money has gone in several years time.

http://www.echo-news.co.uk/sport/14558099.Blues_in_line_for___1million_windfall/?ref=mr&lp=3

Probably Inland Revenue would be my guess

 

[rlb999]

Given that we're clearly heavily in debt, where would you expect the money to go to? Serious question.
People who talk about money disappearing or black holes just make themselves sound stupid in my view.

 

[kentblues]

I think relating to the EFL stuff SK said clubs like us are losing £1m a year and reliant on their owners. So I guess £1m would mean we can break even (without cup runs etc). Bentley & Payne are likely to result in same again. Best we can hope for is an increase to the playing budget combined with a smaller squad meaning we can get a good step forward. If these things come off near term then a bit more may be forthcoming.

 

[Rattus Norvegicus]

Might we see The Dome erection soon?

 

[fbm]

Is there seriously anyone left on here who actually think Ron makes a profit from running this club? He has to put in a fortune to balance the books and keep us out of administration. He will make his money when the stadium happens. Until then, he is keeping this club afloat. Any windfalls like this mean he just has to put in less. If he wanted to claim back everything he is owed, it would bankrupt us. That's why the rent on Roots Hall is left outstanding and never collected. In a disaster scenario, he then calls in that debt and becomes the biggest creditor.

 

[Rattus Norvegicus]

Is there seriously anyone left on here who actually think Ron makes a profit from running this club? He has to put in a fortune to balance the books and keep us out of administration. He will make his money when the stadium happens. Until then, he is keeping this club afloat. Any windfalls like this mean he just has to put in less. If he wanted to claim back everything he is owed, it would bankrupt us. That's why the rent on Roots Hall is left outstanding and never collected. In a disaster scenario, he then calls in that debt and becomes the biggest creditor.

Is that a "no" to The Dome erection then?

 

[ColinMorrisWalksOnWater]

I agree with Kentblues, the income will increase our turnover and therefore increase the amount we can pay in wages.

 

[WESTY_SUFC]

Is there seriously anyone left on here who actually think Ron makes a profit from running this club? He has to put in a fortune to balance the books and keep us out of administration. He will make his money when the stadium happens. Until then, he is keeping this club afloat. Any windfalls like this mean he just has to put in less. If he wanted to claim back everything he is owed, it would bankrupt us. That's why the rent on Roots Hall is left outstanding and never collected. In a disaster scenario, he then calls in that debt and becomes the biggest creditor.

He just keeps adding debt to the club also consolidating his other companies debt into our parent company. It's actually screwed us over more. The club has existed far longer than Ron has been involved. It's an insult to say it wouldn't without him.

 

[RobM]

Is there seriously anyone left on here who actually think Ron makes a profit from running this club? He has to put in a fortune to balance the books and keep us out of administration. He will make his money when the stadium happens. Until then, he is keeping this club afloat. Any windfalls like this mean he just has to put in less. If he wanted to claim back everything he is owed, it would bankrupt us. That's why the rent on Roots Hall is left outstanding and never collected. In a disaster scenario, he then calls in that debt and becomes the biggest creditor.

If he called in the money, who would pay? Southend United Football Club Limited? Roots hall Limited? SEL? What assets do these companies have? If SUFCL is millions in debt, surely here's nothing to pay with.

 

[Firestorm]

I agree with Kentblues, the income will increase our turnover and therefore increase the amount we can pay in wages.

I think the HMRC debts which are hit the news tend to be the monthly PAYE settlements and the VAT returns.

The Corporation tax you are refereeing to is based on Profit rather than turnover and , as such, has been fairly small for several years.

 

[rigsby]

If he called in the money, who would pay? Southend United Football Club Limited? Roots hall Limited? SEL? What assets do these companies have? If SUFCL is millions in debt, surely here's nothing to pay with.

Apart from the RH stadium and car park etc. As a development site that is worth a lot of money. Then of course we have FF planning permission for retail park has already been granted, so lots more money there. The new application includes residential which the council are in agreement with, so that makes FF even more valuable.

The only down side to FF is the fact that someone will have to provide a Football Stadium for a loss making lower league side. If anyone was smart they could take over from Ron and make sure the club goes bust and they would make a lot of money. In a town with no spare land that has been told by the government to provide 7,000 new homes, a cancelled Football stadium and all the training areas would be a great space to use for housing.

 

[tommy tucker]

Love him or loth him Ron has yet to really fail the club .Despite what we as fans think of him he goes about his task of trying to keep or club from taking a penalty points hit through administration .And he has got British land on board with the new stadium .So all though I am not a Ron fan I feel he should get some credit for what he is trying to do .

 

[united we stand]

Is there seriously anyone left on here who actually think Ron makes a profit from running this club? He has to put in a fortune to balance the books and keep us out of administration. He will make his money when the stadium happens. Until then, he is keeping this club afloat. Any windfalls like this mean he just has to put in less. If he wanted to claim back everything he is owed, it would bankrupt us. That's why the rent on Roots Hall is left outstanding and never collected. In a disaster scenario, he then calls in that debt and becomes the biggest creditor.

Are you serious, what aboubt 'the sainsburys money' and his big house and big car :winking:





for the avoidence of doubt, as sometimes what people understand can be very off target , no I dont think he makes a profit

 

[tommy tucker]

What about Sainsburys oh yes the forgotten men dropped out of buying roots hall why . Because they are losing money also so they are nothing to crow about And Ron has a big house and a flash car so what did the money come out of our club NO . His companys are in debt and of course he is the only one with a company in debt isn't he British home stores I say to you thousand of hard working people about to lose there jobs .At least our players have still got jobs .

 

[Mick]

Love him or loth him Ron has yet to really fail the club .Despite what we as fans think of him he goes about his task of trying to keep or club from taking a penalty points hit through administration .And he has got British land on board with the new stadium .So all though I am not a Ron fan I feel he should get some credit for what he is trying to do .

I don't think this Ron eulogy has much substance. When a club goes into administration, the creditors lose out big time. Given our main debts are to him and his, administration would suit him even less than us.

Also I wasn't aware British Land were going to be involved with the stadium.

Over 15% of the league clubs have moved into new stadiums in the 15 years whilst Fossetts Farm really doesn't look any closer at all.