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Memory Lane The Accounts (2019) have landed ...

Why is that in the back of your mind? Ron has already said he'll own the stadium and SUFC will be charged rent. He also said it won't be paid, but if it is being charged and not paid then it will appear as a creditor on the balance sheet so that if anyone wants to buy the club in the future then they'll have to settle that at some point.

If he's not prepared to give the stadium to the club after the millions he stands to make you can rest assured he'll expect any prospective new owner to settle that debt.

I have no issue with Ron making a return on his investment, but he seems to want to squeeze every last drop even if it means leaving the club with no assets and a mounting "rent debt".
Exactly ! I still can't see how his plan leaves SUFC in a sustainable position going forward. Where is the income to repay the rent ? Will there be a formalised contract, so that the rent will remain at the figures he's quoted ? Ron's already said nobody would want to buy the club without the property, so where does it leave us ?
 
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Exactly ! I still can't see how his plan leaves SUFC in a sustainable position going forward. Where is the income to repay the rent ? Will there be a formalised contract, so that the rent will remain at the figures he's quoted ? Ron's already said nobody would want to buy the club without the property, so where does it leave us ?

From what I can make out the only extra income stream the club will have is the conference facilities and maybe it can make use of the stadium for things such as concerts. However, if Ron owns the stadium then I'm pretty sure the hotel (for example) will pay rent to him, not the club...I'm also pretty sure that the residential units built into the stadium will pay rent to him, not the club.

As I've said previously, Elstree Blue predicted all of this many years ago but no-one believed him.
 
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From what I can make out the only extra income stream the club will have is the conference facilities and maybe it can make use of the stadium for things such as concerts. However, if Ron owns the stadium then I'm pretty sure the hotel (for example) will pay rent to him, not the club...I'm also pretty sure that the residential units built into the stadium will pay rent to him, not the club.
Yep. Plus he'll earn from the developments on the land at Roots Hall ? So where is the income for SUFC (other than the occasssional raffle in the conference facilty ?) Will we be debt free from this ? Still too ambiuous for my liking !
 
From what I can make out the only extra income stream the club will have is the conference facilities and maybe it can make use of the stadium for things such as concerts. However, if Ron owns the stadium then I'm pretty sure the hotel (for example) will pay rent to him, not the club...I'm also pretty sure that the residential units built into the stadium will pay rent to him, not the club.

As I've said previously, Elstree Blue predicted all of this many years ago but no-one believed him.

Quite surprised that the SOS group aren't still pushing on these points and trying to get answers to these specific questions - seems like they just stopped campaigning after the CEO was appointed and Stan disappeared - shame really
 
Quite surprised that the SOS group aren't still pushing on these points and trying to get answers to these specific questions - seems like they just stopped campaigning after the CEO was appointed and Stan disappeared - shame really
I wonder if Ron ever answered the questions they put to him ?
 
The new owner would be at liberty to make an offer to buy the stadium as well. Ron however knows that very likely the fantasy buyer with the money to buy the club with the stadium is not going to materialise. So it makes obvious sense to have buying the club and renting the stadium as the start point.

Assuming of course the plan is to sell.

Don’t forget the next chairman will need to be putting all the money in without the pot of Gold at the end- but no doubt still enjoying the similar levels of shall we say “dissatisfaction”
 
The new owner would be at liberty to make an offer to buy the stadium as well. Ron however knows that very likely the fantasy buyer with the money to buy the club with the stadium is not going to materialise. So it makes obvious sense to have buying the club and renting the stadium as the start point.

Assuming of course the plan is to sell.

Don’t forget the next chairman will need to be putting all the money in without the pot of Gold at the end- but no doubt still enjoying the similar levels of shall we say “dissatisfaction”
Why would anybody want to buy it under those circumstances ?
 
Why is that in the back of your mind? Ron has already said he'll own the stadium and SUFC will be charged rent. He also said it won't be paid, but if it is being charged and not paid then it will appear as a creditor on the balance sheet so that if anyone wants to buy the club in the future then they'll have to settle that at some point.

If he's not prepared to give the stadium to the club after the millions he stands to make you can rest assured he'll expect any prospective new owner to settle that debt.

I have no issue with Ron making a return on his investment, but he seems to want to squeeze every last drop even if it means leaving the club with no assets and a mounting "rent debt".
Correct me if I'm wrong, hasn't Ron stated multiple times that SUFC will NOT be charged rent at Fossetts Farm, the same as what it is now at Roots Hall.
 
Correct me if I'm wrong, hasn't Ron stated multiple times that SUFC will NOT be charged rent at Fossetts Farm, the same as what it is now at Roots Hall.
SUFC are charged rent at Roots Hall but no rent has been collected and SUFC’s debts increase.

Some of that debt has been written down.
 
It's detailed on page 20 at the same annual rent of £450,000.

It's also mentioned on page 30 along with the ongoing 'managment charge' of £300,000 per year within the SEL owings
Can somebody please clarify

Surely this doesnt mean Ron is claiming an annual rent and Management charge of £750 , 000, or £3m every 4 years. Is this amount extracted from our club and transferred to Rons accounts via his Companies?

Although Ron claims this wont be charged or some is written down, in theory would a potential buyer have to pay Ron the years of this transfer into his Companies

This would make the money real and also put off any buyer and cement Rons position. Does it mean Rons is effectively taking a potential income from the club of £750k per annum?
 
Can somebody please clarify

Surely this doesnt mean Ron is claiming an annual rent and Management charge of £750 , 000, or £3m every 4 years. Is this amount extracted from our club and transferred to Rons accounts via his Companies?

Although Ron claims this wont be charged or some is written down, in theory would a potential buyer have to pay Ron the years of this transfer into his Companies

This would make the money real and also put off any buyer and cement Rons position. Does it mean Rons is effectively taking a potential income from the club of £750k per annum?

I belive that this is exactly what it means, an annual charge of £750,000.

The issue being is that this money hasn't been paid by the club and thus is accruing as debt year on year, this explains why we are ~£18m in debt on paper.

RM has talked about discharging this (some of?) when the ground is built but yes, the whole point is if someone wanted to buy the club from RM then this is exactly what they are going to have to pay off before they even start to talk about a figure for the club itself.

Which is why he is going nowhere anytime soon, for better or for worse

Sucks huh?
 
Can somebody please clarify

Surely this doesnt mean Ron is claiming an annual rent and Management charge of £750 , 000, or £3m every 4 years. Is this amount extracted from our club and transferred to Rons accounts via his Companies?

Although Ron claims this wont be charged or some is written down, in theory would a potential buyer have to pay Ron the years of this transfer into his Companies

This would make the money real and also put off any buyer and cement Rons position. Does it mean Rons is effectively taking a potential income from the club of £750k per annum?
Yep, that's how are read it. His companies are still charging it, even if we are unable to pay it. Therefore, increasing our debt year on year.
 
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Wow, thank you gents for clarifying. My Gillingham friends told me how much Scally was taking out of Gillingham ,annually coming to him ,and they thought the amount outrageous, however Rons pile makes Scallys gain look like small change !!
 
I think years ago he bought roots hall for something like £4m and then charged £800k rent every year. Probably the only good bit of business he’s ever done
 
I think years ago he bought roots hall for something like £4m and then charged £800k rent every year. Probably the only good bit of business he’s ever done
and how many properties could he put on the land at RH once FF is built ? It'll generate a LOT more than £4m
 
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