Latest Rumours SUFC up for sale

[Jasrod]

He needs a stadium built at FF before he can start building at RH and before housing at FF can be occupied. So he could sell the stadium land, but he would need assurances that the stadium (phase 1) is built asap to enable the rest of the development

So built phase 1 let’s say in 2 years is target. If done quicker buyer gets a percentage back. Takes longer seller gets additional funds?

 

[C'mon you Shrimpers]

The whole sale is complicated by the FF development and the building of the stadium. Make no mistake Ron or at least his companies are here until FF is built or he sells the land or he goes under. As things stands the FF development is a partnership between Southend United Football Club, Citizen Housing LLP and Southend-on-Sea Borough Council so at the very least the lawyers will be exercised by that. It may be a simple procedure, I'm not a lawyer, but Kimura aren't buying as far as I know an interest in FF development. So Southend United would need to be taken off or substituted by the company that will be dealing.

 

[Shrimpergonzo]

He needs a stadium built at FF before he can start building at RH and before housing at FF can be occupied. So he could sell the stadium land, but he would need assurances that the stadium (phase 1) is built asap to enable the rest of the development

I think that’s the nub of it - I can see (and understand) Ron wanting to maintain control over the Roots Hall land and also phase 1 of the stadium. The buyers however would also need some certainty over both sites too and this is the crux of the deal, and why it is more complicated than most football club sales.

I would imagine the buyers will want more control over the 4th stand and, unless there is a release of housing land elsewhere linked to completion of this, Ron may be more relaxed about letting it, and the training ground, go to the buyer.

I can’t bring myself to spend time on The Council’s awful planning portal to examine the conditions relating to the phasing of the development I’m afraid!

 

[kentblues]

Is it possible that Ron would sell the land with planning permission attached? Would this not be more valuable to Ron?

You would think if possible it would be easier to contract. Then Kimura have control of the build. But in the other side Ron would lose some control and can't develop RH until the stadium is built?

 

[Jasrod]

You would think if possible it would be easier to contract. Then Kimura have control of the build. But in the other side Ron would lose some control and can't develop RH until the stadium is built?

Time for a agreed date and money back guarantee?

 

[Holy Joe]

So built phase 1 let’s say in 2 years is target. If done quicker buyer gets a percentage back. Takes longer seller gets additional funds?

Possible. The problem with financial penalties/incentives is you have to be sure the other party can afford them and will honour them. Not sure this is the case in this deal

 

[Shrimper Brownie]

Problem is we all know (as many itks have said) that Ron wants the deal done asap. Yet it’s supposedly him who is holding it up? What’s going on?

 

[Spaceman Spiff]

Problem is we all know (as many itks have said) that Ron wants the deal done asap. Yet it’s supposedly him who is holding it up? What’s going on?

As ever with Ron he’s an enigma wrapped in a riddle wrapped in a bin bag.

 

[Danshrimper]

Problem is we all know (as many itks have said) that Ron wants the deal done asap. Yet it’s supposedly him who is holding it up? What’s going on?

Has it been confirmed that Ron is the only one holding it up? I wouldn’t be surprised if he is. But I also haven’t seen anyone confirm that Kimura have completed their due diligence checks. The hold up could be on their side and/or Ron’s side.

 

[mark387]

Has it been confirmed that Ron is the only one holding it up? I wouldn’t be surprised if he is. But I also haven’t seen anyone confirm that Kimura have completed their due diligence checks. The hold up could be on their side and/or Ron’s side.

Nope. A lot of what is being said in this thread and on Twitter is constructed in peoples heads based on Rons historical self serving and ineptitude.

I don't blame them. There is a lot of misinformation out there and it's very easy to connect the dots between the real information and the fake stuff using just his past behaviour

 

[Cricko]

My only worry now is that RM has been given a grace of favour time to sorts the debts etc out, it gives him time to maybe play hard ball with any buyers as he isn't as desperate as last week when we nearly ended up in the Isthmian league.

 

[Boreham Blue]

The truth is that as much as we might want it done tomorrow, this is a big complex deal (or multiple deals) and despite the odd snippet being realised it's a commercial situation that will be done largely in private and with a number of lawyers involved. I'm no Ron apologist but this is the deal of his life and Kimura will want to ensure the right deal so both will need some time. Frankly I am amazed that it's likely to be concluded as soon as the rumours from the more ITK amongst us suggest.

 

[tallboyblue]

My only worry now is that RM has been given a grace of favour time to sorts the debts etc out, it gives him time to maybe play hard ball with any buyers as he isn't as desperate as last week when we nearly ended up in the Isthmian league.

I don’t think he wants to use his own money anymore assuming he has got some left.

 

[Rob1920]

It wouldn't surprise me if it gets bogged down around the flats built in to the stadium. I'm guessing Ron really wants them there, whereas the new guys preferred the original plan (obviously, don't we all..) with the higher capacity and hotel. Ron makes more dosh from the flats, so could well be saying if there's no flats, you've got to pay me what I'd have earned from them, which would amount to a few £M I'm sure..

 

[Jasrod]

It wouldn't surprise me if it gets bogged down around the flats built in to the stadium. I'm guessing Ron really wants them there, whereas the new guys preferred the original plan (obviously, don't we all..) with the higher capacity and hotel. Ron makes more dosh from the flats, so could well be saying if there's no flats, you've got to pay me what I'd have earned from them, which would amount to a few £M I'm sure..

Surely bought as seen means 22k with hotel as no planning permission for the other ??

 

[Shrimper]

I'm hoping we'll get an update of some kind these week.

 

[bazzashrimper]

Surely bought as seen means 22k with hotel as no planning permission for the other ??

I would think this would be an easier one. Then to pass accountability for building the stadium to kimura. Not sure the money would be there for kimura though. Surely need the ground at a discount, to account for Ron getting ££££ for the accompanying flats

 

[BluBayou]

AFAIK Ron doesn't have planning permission for the flats in the main-stand at FF. Why should a potential buyer have to pay Ron more for something that is just a drawing on a piece of paper.

 

[Evening Echo]

A winding up petition, issued by HM Revenue and Customs over a £275,000 tax debt, will be back before the court on July 12

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[flangejackrabbit]

It wouldn't surprise me if it gets bogged down around the flats built in to the stadium. I'm guessing Ron really wants them there, whereas the new guys preferred the original plan (obviously, don't we all..) with the higher capacity and hotel. Ron makes more dosh from the flats, so could well be saying if there's no flats, you've got to pay me what I'd have earned from them, which would amount to a few £M I'm sure..

As far as I remember the hotel scheme does still have flats in the stadium as well?

Any purchaser will likely prefer whatever set of plans gives them the best opportunity for a long-term return in any case.