We'll make it to Fossetts

[McNasty]

RM could put the Club into administration whenever he wants to.

and have someone outside get his hands on the books ?

 

[CC51DAS]

I'm not sure what that has to do with my post... I don't think the players are playing to try to get a few hundred extra renewals. But either way, why would he do that? There's a reason why he's sunk several million quid of the profits from the sale of Roots Hall into keeping the Club out of administration.

RM could put the Club into administration whenever he wants to. He just has to attempt to call in any of the loans in the accounts. I'm not sure why he'd want to though.

I thought it is generally accepted that RM holds all the aces, so whatever happens he comes up smelling of roses.

The decision he took to keep the club afloat was taken then - things move on and he will need to re-assess the situation now. That decison may be hastened if he can't generate enough cash flow by early seaso card sales. So if he sees a way of saving a fortune on the stadium build and can still get the go ahead to build the retail park he may take a different view on it.

 

[southendkid]

I thought it is generally accepted that RM holds all the aces, so whatever happens he comes up smelling of roses.

The decision he took to keep the club afloat was taken then - things move on and he will need to re-assess the situation now. That decison may be hastened if he can't generate enough cash flow by early seaso card sales. So if he sees a way of saving a fortune on the stadium build and can still get the go ahead to build the retail park he may take a different view on it.

I know nothing Ron says can be taken at face value, but didn't he say he used his own personal assets as security for sainsbury's cash injection? If Southend united go down then sainsburys won't be able to take the stadium will they? So Ron will lose his assets, as well as being left with roots hall without a team to play in (I may have misunderstood the terms of selling roots hall though, if sufc no longer exist then does another ground still have to be built for roots hall to be sold?)

 

[CC51DAS]

What would he achieve by putting the club into admin ? The clubs incomings will still not match the outgoings afterwards.

True. But if admin docked us ten points causing us to drop out of the league and he could then save a fortune on the stadium build whilst still getting the go ahead for the retail park, it may hold a certain attraction to him.

 

[CC51DAS]

I know nothing Ron says can be taken at face value, but didn't he say he used his own personal assets as security for sainsbury's cash injection? If Southend united go down then sainsburys won't be able to take the stadium will they? So Ron will lose his assets, as well as being left with roots hall without a team to play in (I may have misunderstood the terms of selling roots hall though, if sufc no longer exist then does another ground still have to be built for roots hall to be sold?)

As I understand it there has to be a new ground built first before SUFC leave RH. I am not sure what happens if SUFC cease to exist but I don't think it matters whether they are a football league club or not. If we drop out of the League the stadium requirements would be much less onerous.

And the money he will make out of the retail park will make any personal securities to Sainsbury's pale into insignificance.

 

[* ORM *]

I must admit Tone,I for one would like to see you at the AGM.

Sorted ! :thumbsup:

 

[* ORM *]

ORM, i will give you proxy for the AGM if your serious

Thanks KS but you've been beaten to it. I can't promise to wave any magic wands. I can promise to probe where I can and not accept what I interpret as spin for an answer.

 

[* ORM *]

apart from the whole tome of the article, being completely arrogant as usual, "dont blame me blame the players and management". I find 2 points interesting

Forget the two points let's get down to the REAL issue. ARE you the oldest player in the Sceptre League ? :smile:

 

[Its Only A Game]

Thanks KS but you've been beaten to it. I can't promise to wave any magic wands. I can promise to probe where I can and not accept what I interpret as spin for an answer.

I know a "proxy" can attend AGM's on behalf of the shareholder for voting purposes but are you actually sure that a "proxy" is allowed to ask questions "from the floor"? I always thought that it was at the discretion of the chairman.

Maybe one for the legal bods?

 

[BrettieAngell]

As far as I understand administration doesn't clear our debts, it just brings someone in who will sell all our assets (ie any player we can get money for) and lay off staff to balance the books

We haven't got any assets.

 

[Jedi Shrimper]

The longer it's gone on that work hasn't started at Fossett's, and each new financial story that arises the more worried I become that the only thing 'Southend United' at FF will end up being a headstone bearing the epitaph "Here lies Southend United 1906-2011". My optimism that everything will be ok in the end is gradually ebbing away.

That's why I cling to supporting the team, appreciating what I have while it's still here.

EDIT: Just read that back. Wow that's depressing. Off to find an amusing avatar to cheer myself up.

 

[Somerset Ex-TTB]

Forget the two points let's get down to the REAL issue. ARE you the oldest player in the Sceptre League ? :smile:

Don't forget to ask the really important questions, such as why are there no onions on the burgers, why Blair keeps playing, and why didn't we sign Messi in the transfer window.

Can we have agreement on here if anyone on the floor at the AGM even mentions a question on the footballing side can they be dangled out the window.

This AGM is a chance to ask questions regarding the finances and the stadium to try and get some real facts and answers.

 

[Onion_Bag_Dave]

Surely this calls for a 'collection of questions that we all would like to be asked at the AGM' thread.

 

[BILLERICAY BLUE]

Don't forget to ask the really important questions, such as why are there no onions on the burgers, why Blair keeps playing, and why didn't we sign Messi in the transfer window.

Can we have agreement on here if anyone on the floor at the AGM even mentions a question on the footballing side can they be dangled out the window.

This AGM is a chance to ask questions regarding the finances and the stadium to try and get some real facts and answers.

Don't worry, I'm sure some old goat will ask why we don't have yellow as our away colours....

 

[EastStandBlue]

Surely this calls for a 'collection of questions that we all would like to be asked at the AGM' thread.

We did this before the Q&A, and only a handful of decent questions got asked.

 

[Onion_Bag_Dave]

We did this before the Q&A, and only a handful of decent questions got asked.

True, but anybody could go to the Q&A couldn't they? This is people with shares so less likely to attract the chaps who want to know where the Freddy Eastwood money has gone.

 

[BILLERICAY BLUE]

This is people with shares so less likely to attract the chaps who want to know where the Freddy Eastwood money has gone.

Don't you believe it OBD. At the last one I think, we had a 10 minute discussion on why Maher was never picked to play as a CB "rather like Frank McKlintock" :headbang:

 

[Cricko]

I know a "proxy" can attend AGM's on behalf of the shareholder for voting purposes but are you actually sure that a "proxy" is allowed to ask questions "from the floor"? I always thought that it was at the discretion of the chairman.

Maybe one for the legal bods?

This is actually a very valid post which we need to check out.

 

[Mick]

This is actually a very valid post which we need to check out.

I'm sure that is the case for the formal part of the meeting. (ID has never been required at an AGM so if you know the name and address of someone not going and neither you nor he is well known to the club, it shouldn't be a problem!)

 

[E for B and Billy Best]

Don't you believe it OBD. At the last one I think, we had a 10 minute discussion on why Maher was never picked to play as a CB "rather like Frank McKlintock

You have got to be joking, someone needs to take responsibility to swing people round by the testicles if they ask questions that do not make Ron account for the mess we are in.