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Winding Up Petitions
- Thread starter gibbinson
- Start date
HypoTypo
Living The Dream
Floval Flyer
Licensed to ill⭐
HypoTypo
Living The Dream
Just a curious question for all.
Lets say RM paid of the debts, ignore the FF thing and don't get too serious about it. How much would it cost to buy out SUFC, it's assets and the land in today's current climate.
Ball point figure ?
Lets say RM paid of the debts, ignore the FF thing and don't get too serious about it. How much would it cost to buy out SUFC, it's assets and the land in today's current climate.
Ball point figure ?
rigsby
Life President⭐
- Joined
- Oct 12, 2014
- Messages
- 17,045
Obviously he would get them on credit
HypoTypo
Living The Dream
rigsby
Life President⭐
- Joined
- Oct 12, 2014
- Messages
- 17,045
The club and the stadium are worth sweet FA. The RH site has planning for close to 500 homes so a rough guess would be £25/30m
Not a lot, if/when RM waves the book debts (17m approx) to his other companies, the assets of the club has remaining are virtually zero.
The club (Southend United Football Club Ltd) do not own Roots Hall. Fossetts Farm, or Boots & Laces and have not done for years.
HypoTypo
Living The Dream
I was wondering what we had in the way of assett's. I know the land is not ours. So along with the debts, no assett's, we are in a very dire situation if RM can't stump up for HMRC.
My point is, they can't keep paying off large sums like this, at some point they could and will come unstuck
My point is, they can't keep paying off large sums like this, at some point they could and will come unstuck
Mad Cyril
The Fresh Prince of Belfairs⭐⭐
Shirt sales in the far East.
Mad Cyril
The Fresh Prince of Belfairs⭐⭐
Great idea. I doubt they can afford a ticket and transport so they can start walking now.
The player contracts belong to the club.
The matchday revenue and other retail sales are controlled by RM's company and ploughed back in to pay the player/staff wages.
The land also belongs to him, but can't be sold without a stadium in place, as per Rgisby's post above.
That's my understanding.
So, without the stadium built, the club and land are worthless.
LOL .. Too true.
Of course, all the hoteliers in the town will be salivating at the extra revenue, as well!
It's a win-win!
Mad Cyril
The Fresh Prince of Belfairs⭐⭐
As a small business owner I have found that HMRC like to wind people up but they don't like it so much when you turn up on their doorstep with a weapon improvised from a pool cue handle and offer to sort things out man to man
If I was Ron I would get some boys together and take a stroll up Victoria Avenue.
If I was Ron I would get some boys together and take a stroll up Victoria Avenue.
Ron needs to keep the club running and alive as it his vehicle to to enable the Fossetts Farm and Roots Hall Developments to proceed (Subject to Planning Permission being granted). Once this happens, Ron will be able to take the substantial profit from all the development and walk away with his money he has invested over the years plus a nice retirement nest egg.
Once that happens, what he does with the club is anyone's guess.
Firestorm
Pedant
Personally if he has his nest egg and SUFC have sufficient non matchday income to supplement the football income and avoid annual debts and repeated cash injections , I would rather RM/MD stay as owners.
Any sale opens up the prospect of someone wanting to make money out of the club, or making investments which have been leveraged against the club .
If we end up , at the end of this , not self sufficient ( in debt or not) , I cant see us lasting long
HypoTypo
Living The Dream
To be honest I think we are closer to this than some realise. I hope I am wrong
OldBlueLady
Junior Blues Coordinator⭐⭐
I've tweeted this with credit to you and SZ and it's gone down a storm! Great work!
SeaSideDoughnut
Coach
- Joined
- May 12, 2015
- Messages
- 2,595
Is Ron really going to make any money from a housing development on Roots Hall? Let's say all the figures that have been stated are in the ball park... There's £17m of debt he will [hopefully] write off. The planning for 500 homes is worth £25 to £30m... I don't know how much it costs be build that many homes, but it's got to be cutting it close to the lower end of that estimate.
I bet when he took over - much like Barry Hearn did at Leyton Orient - Ron thought it would be so much easier. Just move the club on to brown belt land and you're quids in... 20 years down the line and it could all be for nothing [or less than nothing]
I bet when he took over - much like Barry Hearn did at Leyton Orient - Ron thought it would be so much easier. Just move the club on to brown belt land and you're quids in... 20 years down the line and it could all be for nothing [or less than nothing]
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