Absolutely, which is why I mentioned business acumen, as once you have that at the top, you should have stability. If the club is stable from the top down, then it frees the footballing side of a club the right environment to get it right on the pitch. You're right and of course I won't disagree, Maher has done that despite not having that, but has obtained the loyalty of the players to stay and see it through. A remarkable achievement in today's sporting world. I am expecting maybe to lose a couple, but they will be for fees not walking away like Lopata was advised to. The Consortium will provide the stability. The annoying thing is Ron was asked to provide details of all debts to them and they would pay or strike financial agreements with everyone owed, so by not going into administration everyone will get paid. It looks like he didn't fully disclose the Stewart LLP debt until after the Consortium had worked on their initial investment to put the house in order of £3m, or so they thought, hence why they said they wouldn't pay it until they own the club. He continues to muck us about right up until hopefully the last! Onto brighter things, I think with the right backing, which it looks like you will have now, Strevens might prove to be a sound appointment. Your transfer activity in the summer will be interesting to watch.
We need to get rid of our MD before anything changes, the reason the club has stagnated the last 10 years is all his doing, new owners great but same person in charge is a disaster see the last owners for proof of that.
As if to prove the point......FFS!!!! SOUTHEND United’s takeover deal is no closer to be completed, Echosport understands. Current Shrimpers chairman Ron Martin had been confident the consortium headed up by Justin Rees would officially be in control of the National League club by mid-May. But the transaction will not be completed within that time-frame due to two outstanding conditions. Southend on Sea City Council are continuing their due diligence over plans for the housing at Fossetts Farm while CBRE, the funder of the Martins on behalf of a pension fund, have yet to consent to the payment structure for Roots Hall refurbishment required under the deal. However, even when that does happen, it is understood that another two weeks of council processes will need to be carried out before the deal can officially be sealed. The consortium continue to fund the club and paid April’s wages and VAT to take their outlay to £3.5million since agreeing terms with Martin for the sale of the Shrimpers back in October. The latest delay will concern Blues supporters as the club are due back in the High Court on Wednesday May 15 to face another winding up petition. The petition, issued by Stewart’s Law, was adjourned for four weeks after a court hearing last month. The Echo have been informed that the consortium and Martin will work together to seek a further adjournment. The consortium said: “We remain frustrated with the continuous delays surrounding the closure of the sale and would encourage the Council and CBRE to complete their remaining processes with greater urgency.”
Needs sorting out soon it’s effecting all fans in this league. We don’t want Boring wood back in this league.
Do Southend have any deadline to meet on this takeover with the courts? Seem to have about a week to live about 6 months ago and the takeover still hasnt happened?
Dale takeover complete. Thank fook for that. Local owners worth around £1bn. All we could've asked for and potential dream come true stuff. While I Don't expect us to throw silly money at signings I am expecting us to be more competitive next season. Looking forward to it already.
15th May we're in court as Ron didn't pay his solicitors which he no doubt charged to the club. Consortium have put in £3.5m since the deal was agreed but they won't be putting any more in. It'll be at least two weeks from the 16th May if anything is agreed. Only at Southend could a takeover take this long
You say he didn’t pay his solicitors, they were representing the club. I appreciate that it’s because of his basket case running of the club. First question I’d ask as a judge would be, with the crowds you are getting, where is all the money going and what debts have been built up since the last appearance. It really sounds like this could all collapse like a pack of cards, very sad.
Since our last appearences we paid the debts. Consortium have been funding the club since December, RM hasn't put a penny in ages. We can't even sell ST yet as it'll be pinched by Ron
Hope Southend are sorted soon. Have the league imposed any sort of criteria for you guys to meet to be allowed to compete next season? Not that I'm wishing you are kicked out at all. But is there not a very real risk that the current funders pull the plug? They surely won't keep paying wages if no end in sight of owning the club. Are you able to sign any players while all this is still in the air?
It all hinges on the Company that have finances Ron CEBRE who he owes £45m to. If the council finances DD shows nothing more and that give the OK to the deal at the end of the month, then CEBRE move the charge for the £45m from The Hall to Fossetts Park. The consortium will then lease the Hall from Ron until planning permission granted on the new format of Fossetts Park and consortium. then own the whole shooting match. Said it was complicated!
Why would they fund a club they dont own, without guaranteed certainty they were going to acquire that club?
Some good news for us also, a sale agreed with a local consortium - **** off Osborne, Edwards, Hayman. Good riddance! Statement From The Administrators Of Torquay United AFC Limited - Torquay United
