Southend United

[Tippy Tappy Football]

16/09/20 Southend United – Winding Up Petition

I'll start the thread for the next financial drama in League 2.

So yesterday Southend United Football Club were given 6 weeks to pay off £493,000 owed to HMRC. They are also under a transfer embargo. Chairman, Ron Martin, says "cashflow over the past six months has been very limited. That cashflow has not been assisted by the limited number of season cards that we could sell (50% of normal) and by our card merchants, Cardnet, not releasing any funds to the club as a result of their change in policy. As a consequence all season card monies are still held by Lloyds Bank."

Today, Southend United sign Simeon Akinola from Barnet on a 2 year contract. How does that one work?

The EFL should not be allowing Southend to sign any players until they have cleared the debt owed to HMRC.

"Southend United have completed the signing of striker Simeon Akinola who scored 16 goals for Barnet last season and who netted 24 goals in 102 appearances in total for the Bees. He also had a three year spell with Braintree before joining Barnet in 2017."

[Conker]

They let one go or something so the EFL permitted that signing.

Two year deal for a club that’s got potentially 6 weeks until wound up is mad though.

[Sandy Pate Best Stag]

They let one go or something so the EFL permitted that signing.

Two year deal for a club that’s got potentially 6 weeks until wound up is mad though.

Not really dissimilar to allowing loads of clubs subject to potential winding up orders to sign players. I’m pretty sure we had winding up petitions when hasloan was in charge but we are still here. At least they made them get rid of one before signing another.

[Conker]

They let one go or something so the EFL permitted that signing.

Two year deal for a club that’s got potentially 6 weeks until wound up is mad though.

Not really dissimilar to allowing loads of clubs subject to potential winding up orders to sign players. I’m pretty sure we had winding up petitions when hasloan was in charge but we are still here. At least they made them get rid of one before signing another.

It’s a bit different, going to be one hell of a escape if they manage to find the £500,000.

[Tippy Tappy Football]

The Southend owner, Ron Martin, stands to make millions from flogging off Roots Hall for council houses. If the club goes bust then he can sell Roots Hall without the cost of having to build a new 21,000 seater stadium. Hasloan would have loved the pandemic. Great excuse to close down the club and cash in.

https://www.echo-news.co.uk/news/181136 ... -revealed/

[Johnny H]

Tottenham are this week expected to sign Gareth Bale on loan
They will pay at least half his wages (£175k+ per week.)
A few months ago the Govt loaned them £125 million to help them pay Stadium costs during the pandemic.....I have not read anywhere where it has yet been re-paid !!!

Football has gone mad !!

[Sandy Pate Best Stag]

Tottenham are this week expected to sign Gareth Bale on loan
They will pay at least half his wages (£175k+ per week.)
A few months ago the Govt loaned them £125 million to help them pay Stadium costs during the pandemic.....I have not read anywhere where it has yet been re-paid !!!

Football has gone mad !!

No the government have gone mad for lending it to them. Why didn’t they lend Macclesfield the £500,000 they needed if its that easy.

[Martin Shaw]

[Tippy Tappy Football]

The EFL should not be allowing Southend to sign any players until they have paid off the £493k they owe HMRC. It's a recipe for disaster.

They had 28 players on Soccerbase before Simeon Akinola and Alan McCormack. 13 are 21 or under but that includes Charlie Kelman. 16 have played fewer than 10 league games which may be the reason that the EFL are allowing them to sign some more experienced players. I think they are only allowed 23 first team players in total like Bolton Wanderers.

[Dan]

Tottenham are this week expected to sign Gareth Bale on loan
They will pay at least half his wages (£175k+ per week.)
A few months ago the Govt loaned them £125 million to help them pay Stadium costs during the pandemic.....I have not read anywhere where it has yet been re-paid !!!

Football has gone mad !!

No the government have gone mad for lending it to them. Why didn’t they lend Macclesfield the £500,000 they needed if its that easy.

I would imagine they can charge Spurs a large chunk of interest on the loan hence it will be worth doing. With Macclesfield it wouldn’t be worth it as chances are they wouldn’t even get the money back that they lent out in the first place, let alone make a profit.

[yorkstag]

I don’t think any of us can be complacent and I don’t think this will be the last thread of this nature we see on here.
At the moment the affected clubs are those that were already in trouble. I fear we will soon start to see well run clubs impacted by no or limited crowds and the longer this goes on club benefactors making prudent decisions about how much support they can continue to provide with no end in sight.
I can’t see things going back to what they were this season.

[oldweststander]

If the Government gave Spurs the aforementioned loan it will have to be paid back, in full, with interest.

As for Macclesfield, they could not pay thier way so how the heck could they pay back a loan, it would have just compounded the problem.

[The One]

Tottenham are this week expected to sign Gareth Bale on loan
They will pay at least half his wages (£175k+ per week.)
A few months ago the Govt loaned them £125 million to help them pay Stadium costs during the pandemic.....I have not read anywhere where it has yet been re-paid !!!

Football has gone mad !!

No the government have gone mad for lending it to them. Why didn’t they lend Macclesfield the £500,000 they needed if its that easy.

I would imagine they can charge Spurs a large chunk of interest on the loan hence it will be worth doing. With Macclesfield it wouldn’t be worth it as chances are they wouldn’t even get the money back that they lent out in the first place, let alone make a profit.

If I remember right, Spurs and Liverpool were going for loans furlough, but after bad press pulled out ?

[Tippy Tappy Football]

The Bank of England published a list of 53 companies on 4th June who had received loans from the UK government’s Covid Corporate Financing Facility including a loan of £175 million to Tottenham Hotspur. 13 of these companies have links to tax havens including Tottenham Hotspur, Easyjet and JCB Service which makes up 29% of the loans given. The owner of Tottenham, Joe Lewis, lives in the Bahamas. A couple of the companies are the subject of ongoing fraud investigations.

"The publication of the list follows growing calls for the government to place more conditions on companies receiving state support, and the Scottish and Welsh Governments have legislated to prevent companies incorporated in tax havens from accessing funds." The UK government needs to do the same.

https://www.taxwatchuk.org/ccff_companies

[Dave Wayne]

I don’t think any of us can be complacent and I don’t think this will be the last thread of this nature we see on here.
At the moment the affected clubs are those that were already in trouble. I fear we will soon start to see well run clubs impacted by no or limited crowds and the longer this goes on club benefactors making prudent decisions about how much support they can continue to provide with no end in sight.
I can’t see things going back to what they were this season.

This is why everyone needs to get behind the club and buy match passes for home and away games to give them as much income as possible.

[Parkinsons Perm]

I don’t think any of us can be complacent and I don’t think this will be the last thread of this nature we see on here.
At the moment the affected clubs are those that were already in trouble. I fear we will soon start to see well run clubs impacted by no or limited crowds and the longer this goes on club benefactors making prudent decisions about how much support they can continue to provide with no end in sight.
I can’t see things going back to what they were this season.

This is why everyone needs to get behind the club and buy match passes for home and away games to give them as much income as possible.

Surely has to be the most ironic post in Stagsnet history.

This is the same Dave Wayne who couldn't wait for his refund but actually thought he was entitled to the extra as well !!!!

You absolute hypocrite of the highest order, "get behind the club" my arse.

[Dave Wayne]

I don’t think any of us can be complacent and I don’t think this will be the last thread of this nature we see on here.
At the moment the affected clubs are those that were already in trouble. I fear we will soon start to see well run clubs impacted by no or limited crowds and the longer this goes on club benefactors making prudent decisions about how much support they can continue to provide with no end in sight.
I can’t see things going back to what they were this season.

This is why everyone needs to get behind the club and buy match passes for home and away games to give them as much income as possible.

Surely has to be the most ironic post in Stagsnet history.

This is the same Dave Wayne who couldn't wait for his refund but actually thought he was entitled to the extra as well !!!!

You absolute hypocrite of the highest order, "get behind the club" my arse.

Fishing is going well today. Shall we revisit tihis conversation when it gets to xmas and the gates still haven't opened ? Then we can compare how much season ticket holders have paid per game with the £10 others are paying.

[Parkinsons Perm]

I don’t think any of us can be complacent and I don’t think this will be the last thread of this nature we see on here.
At the moment the affected clubs are those that were already in trouble. I fear we will soon start to see well run clubs impacted by no or limited crowds and the longer this goes on club benefactors making prudent decisions about how much support they can continue to provide with no end in sight.
I can’t see things going back to what they were this season.

This is why everyone needs to get behind the club and buy match passes for home and away games to give them as much income as possible.

Surely has to be the most ironic post in Stagsnet history.

This is the same Dave Wayne who couldn't wait for his refund but actually thought he was entitled to the extra as well !!!!

You absolute hypocrite of the highest order, "get behind the club" my arse.

Fishing is going well today. Shall we revisit tihis conversation when it gets to xmas and the gates still haven't opened ? Then we can compare how much season ticket holders have paid per game with the £10 others are paying.

You'll want it all back with interest on top!!!!! Reel in that whopper

[geoffhill]

The Radfords deserve it if as many people as possible buy match passes to help through this period.

[Dave Wayne]

I don’t think any of us can be complacent and I don’t think this will be the last thread of this nature we see on here.
At the moment the affected clubs are those that were already in trouble. I fear we will soon start to see well run clubs impacted by no or limited crowds and the longer this goes on club benefactors making prudent decisions about how much support they can continue to provide with no end in sight.
I can’t see things going back to what they were this season.

This is why everyone needs to get behind the club and buy match passes for home and away games to give them as much income as possible.

Surely has to be the most ironic post in Stagsnet history.

This is the same Dave Wayne who couldn't wait for his refund but actually thought he was entitled to the extra as well !!!!

You absolute hypocrite of the highest order, "get behind the club" my arse.

Fishing is going well today. Shall we revisit tihis conversation when it gets to xmas and the gates still haven't opened ? Then we can compare how much season ticket holders have paid per game with the £10 others are paying.

You'll want it all back with interest on top!!!!! Reel in that whopper

Seeing as you won't let it go, shall we go through the maths ?
Due to other commitments I usually get to around 15 home league matches per season, so just about break even.
When last season was cut short I had attended 12 matches. At a cost of £350 for the ST it meant I had paid over £29 per game. With the refund it means I paid just under £22, which I believe is the advance price for an individual match ticket.
This season we have paid £375 for 23 matches which works out at just over £16 per match. There is still the possibility that the gates don't open at all this season which means that even if we watch every game we will have paid £145 more than a non-season ticket holder watching the same matches.
I am not expecting any refund on this years ST as we knew the situation at the time of the purchase and the club are giving us an alternative way of viewing the games.
When the refund was first mentioned, most people assumed this season would be starting as normal. When it became obvious that wasnt the case many peoples views changed as it became a possibility that they would be making a loss on both seasons.
Whether you choose to understand the above or not is up to you. If you feel the need to keep bringing it up every time I post anything on here then fine, I hope it gives you great pleasure.
My statement that as many as possible should buy match passes to support the club still stands. This is what the club needs us to do to survive these difficult times.

[Parkinsons Perm]

Fishing is going well today. Shall we revisit tihis conversation when it gets to xmas and the gates still haven't opened ? Then we can compare how much season ticket holders have paid per game with the £10 others are paying.[/quote]

You'll want it all back with interest on top!!!!! Reel in that whopper[/quote]
Seeing as you won't let it go, shall we go through the maths ?
Due to other commitments I usually get to around 15 home league matches per season, so just about break even.
When last season was cut short I had attended 12 matches. At a cost of £350 for the ST it meant I had paid over £29 per game. With the refund it means I paid just under £22, which I believe is the advance price for an individual match ticket.
This season we have paid £375 for 23 matches which works out at just over £16 per match. There is still the possibility that the gates don't open at all this season which means that even if we watch every game we will have paid £145 more than a non-season ticket holder watching the same matches.
I am not expecting any refund on this years ST as we knew the situation at the time of the purchase and the club are giving us an alternative way of viewing the games.
When the refund was first mentioned, most people assumed this season would be starting as normal. When it became obvious that wasnt the case many peoples views changed as it became a possibility that they would be making a loss on both seasons.
Whether you choose to understand the above or not is up to you. If you feel the need to keep bringing it up every time I post anything on here then fine, I hope it gives you great pleasure.
My statement that as many as possible should buy match passes to support the club still stands. This is what the club needs us to do to survive these difficult times.[/quote][/quote]

The pleasure is immense.
You can dress it up all you want, you wanted a refund and more!!!!!!
My arms are heavy with reeling.

[bellwhiff]

Dave Wayne. Absolutely rinsed.

[I am Spartacus]

Back on thread, it is the system that the EFL has in place that is the problem. You owe the tax man half a million and he will be round your house with couple of big burley fellows armed with crowbars. But a football club owes half a million and it can drag on for years. Allowing clubs to continue dodging paying taxes and creditors etc to continue ‘investing’ in the playing side hoping for the once in a generation season that will clear the debts.

But once in a generation runs don’t come that often and owners hide behind the preferred creditor rule, lax ownership rules, a system ran by the EFL whereby only a few clubs sit on the board and are privy to sensitive information, ownership exchange can be a legal nightmare and the customer base can be taken for granted.

Added to a media and nation that are obsessed with the top flight only it is a recipe for the disasters that we are seeing. How much coverage did Sky and the BBC give Southend, Charlton, Macclesfield yesterday to highlight the plight of leagues 2, 3 and 4 (old money)? None.

It’s not the revolution that is going to be televised, I admit I was wrong. It is the death of football as it gradually eats itself whilst the nation sits watching the premier league on TV’s bought from advertising partners whilst wearing replica kits and playing on their X-boxes.

[Tippy Tappy Football]

From Southend Echo

"Blues are currently at their maximum squad size due to the terms of their transfer embargo and players must depart before anyone can be registered."

[I am Spartacus]

In other EFL news, Norman Smurthwaite formerly of the parish of Port Vale has had two bids turned down by the administrators of Wigan.

Tell me again how he would be considered a fit and proper person after how it ended at Port Vale?

Oh, and two players are no longer involved in the Oldham first team after falling out with the manager and owner. The next Macclesfield / Bury could be a close run thing between Oldham and Southend.

Thank god for JR.