| Southend 10:40 - May 5 with 6891 views | burnsieespana |
It seems our neighbours are once again the subject of an HMRC winding up order and £16m of debts have recently been transferred to the club by the Chairman.
With the transfer embargo in place it must be of real concern to their fans as rather like, for example Bury they must be in reL danger this time.e of loosing their club. |  | | |  |
| Southend on 11:43 - Jul 15 with 2110 views | burnsieespana |
Some awful pictures appearing of the ground looking g unkempt and almost abandoned.
Have a bad feeling they may be going rhe same way as Bury.
Also see Ebbsfleet have debts of close to £7m so hopefully for them they have a Chair with money. [Post edited 15 Jul 2023 11:44]
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| Southend on 06:44 - Jul 24 with 1943 views | SparkfilmsTV |
I had communication with Ron Martin yesterday and am awaiting a sales package for the club that l will hopefully be passing on to a third party.
Nothing lost in discussing the Southend situation with an individual who has amassed a personal fortune over the past 30 years. |  | | |
| Southend on 21:24 - Jul 25 with 1768 views | SparkfilmsTV |
The player's in this game of chance consist of, Mr Martin, Jez Moxey, Mr X and myself ( in introduction mode only ).
Mr X hasn't mentioned a desire to acquire a football club as such.
I have made this known to Ron Martin and Jez Moxey.
Mr X is looking to invest in 'something different'. As yet l have not run the idea of a football club past him.
Mr X is turning over £100,000 plus a day through just one of his business models in the UK.
I did not expect Kimura Group to acquire Southend United alone.
This has some way to go and it may go nowhere but it's worth a shot. | | | |
| Southend on 08:44 - Jul 31 with 1636 views | SparkfilmsTV |
The current sales package for Southend United F.C. ( as of 17.00 hours, Friday 28th July, 2023 ), seems to consist of roughly the following.
Roots Hall £4.5 million
New training ground £2.25 million ( tbc )
Shares in club ( 70.6 per cent ) £1
Amount to clear current debts ( tbc ) £2.5 million
Amount required to cover first complete year of trading (tbc ) £1.2 million
This is coming in at around £10.45 million.
£10 million was quoted as the circa figure that would satisfy the immediate demands ( of the seller ) to enable the club to trade under new ownership.
I expect a variation on this theme in the coming weeks.
This information courtesy of the agents dealing with the sale.
( Roots Hall and the new training ground represent the lion's share of what is on the shopping list, strip that out of the equation and that lightens the load ). [Post edited 31 Jul 2023 8:47]
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| Southend on 15:41 - Aug 23 with 1442 views | SparkfilmsTV |
Justin Rees has finally been named as the individual leading a consortium to buy Southend United.
Southend have been handed a further 42 days to clear the immediate debts which equate to the gross figure we obtained from Jez Moxey some weeks ago.
A ten point deduction is likely to be imposed by The National League in the coming day or so. The transfer embargo is still in place.
It still looks as though Southend United's future is in the balance as around £1.4 million needs to be paid in the next seven weeks.
If this money isn't paid the club will be wound up. No more deadlines can be offered after today. | | | |
| Southend on 15:50 - Aug 23 with 1435 views | durham_exile |
| Southend on 15:41 - Aug 23 by SparkfilmsTV |
Justin Rees has finally been named as the individual leading a consortium to buy Southend United.
Southend have been handed a further 42 days to clear the immediate debts which equate to the gross figure we obtained from Jez Moxey some weeks ago.
A ten point deduction is likely to be imposed by The National League in the coming day or so. The transfer embargo is still in place.
It still looks as though Southend United's future is in the balance as around £1.4 million needs to be paid in the next seven weeks.
If this money isn't paid the club will be wound up. No more deadlines can be offered after today. |
Grim times indeed for Southend.
It makes our current predicament seem positively inspiring.
Up the U's |  |
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| Southend on 16:38 - Aug 23 with 1408 views | burnsieespana |
| Southend on 15:50 - Aug 23 by durham_exile |
Grim times indeed for Southend.
It makes our current predicament seem positively inspiring.
Up the U's |
Indeed so Durham | | | |
| Southend on 17:08 - Aug 23 with 1401 views | durham_exile |
Update
Winding up order extended to 4 October.
10 point deduction applied
Southend bottom on -4 points.
£275,000 still owed to HMRC.
Total debt stands at £2.5m.
Australian buyer sought by Ron Martin.
A disgrace. | |
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| Southend on 19:26 - Aug 23 with 1371 views | wessex_exile |
Absolutely - there's a world of difference between losing a few games of football and fighting for your very existence - Good Luck Southend! |  |
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| Southend on 20:29 - Aug 23 with 1351 views | SparkfilmsTV |
| Southend on 19:26 - Aug 23 by wessex_exile |
Absolutely - there's a world of difference between losing a few games of football and fighting for your very existence - Good Luck Southend! |
Possible the consortium may include a member of the family of Peter Taylor.
Peter Taylor was quickly removed from his position at Maldon & Tipree a few days ago.
This may just be a coincidence?????
Meetings were taking place over the weekend in preparation for today's court appearance. Most likely in London and Southend.
The Australian link has been on the radar for several months. | | | |
| Southend on 20:37 - Aug 24 with 1284 views | SparkfilmsTV |
Some doubt tonight that Justin Rees and the 'Consortium' which seemed to consist of around six individuals have adequate funds in place to get a deal over the line.
It was my assumption that the consortium may have included early front runners Kimura Group. No confirmation that they are still in the frame.
There is another group of business individuals with links to Southend who are also in the mix, though quite a long shot.
Also looming is the next monthly payment ( August ) for player wages etc, should this fail to be paid another 10 point deduction will likely be imposed by The National League.
Having said that, an injection of several £million in the coming weeks would keep Southend alive and kicking.
If anyone following this takes an interest in football finance may l suggest they take a look via Companies House at each of the Accounts submitted for clubs in Division 2 for the past trading year.
This may come as quite a shock to some. | | | |
| Southend on 14:07 - Sep 9 with 1085 views | SparkfilmsTV |
Ron's cake has been cut into bite sized chunks....the largest of which is Roots Hall at around £4.5 million. This could be purchased by Southend City Council and this would be enough to save the club with the other slices of cake making a takeover much more affordable and likely.
And back in Colchester, an interesting line up for today's match against Tranmere Rovers. | | | |
| Southend on 13:47 - Sep 10 with 1019 views | burnsieespana |
Sargent fans dream of a ew stadium evaporating. | | | |
| Southend on 18:53 - Sep 16 with 866 views | RSCOSWORTH |
Only had three players on the bench today. Lost 3-0 at winless York and got two red cards.
Evidently Sears is waiting to sign but wants assurances he’s going to get paid. |  |
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| Southend on 19:35 - Sep 16 with 849 views | burnsieespana |
| Southend on 18:53 - Sep 16 by RSCOSWORTH |
Only had three players on the bench today. Lost 3-0 at winless York and got two red cards.
Evidently Sears is waiting to sign but wants assurances he’s going to get paid. |
Surely can't at the moment.ent as only allowed 16 although if they have a longterm injury they can sign somebody in non co tract terms until the injured player recovers. | | | |
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