Fans say there are terrifying times as Kimura, who were the frontrunners for a planned Southend takeover, give a bleak update.
The group say they aren’t the right people to lead their planned purchase of the crisis club, but they do still have an interest in linking up with anyone else who are keen on taking over Southend.
Months ago there were subtle hints that Kimura would be the one to come and rescue, seemingly nearing a conclusion to this saga, only for it to fall silent more recently.
They have now given a statement via Echosport and it has left the fans concern for the future of their club.
A statement read: “To clarify the current position of Kimura Group, we have reviewed all the available information, and the dialogue that we have had privately with Ron Martin and team, as well as what is now in the public domain.
“We still believe that this is a very attractive asset, and we would like to clarify that we are interested in joining with other interested parties if they deem it appropriate to move forward, but we do not believe that we are the right people to lead this at this time.”
The Kimura Group have this morning sent me the following statement about Southend United https://t.co/9RfXsFNpTj
— Chris Phillips (@CJPhillips1982) July 20, 2023
Southend United owner Ron Martin said days ago that he would be willing to sell his stake in the National League club for just £1.
A statement read: “In view of the speculation surrounding the sale, and future of the club, I agreed when talking with supporters on Saturday to set down the principal terms we could accept.
“It may not be the legacy I wished for the club, but the club’s survival is of most importance. The interested parties have shared the view for a simple deal.
“The parent company will sell its entire shareholding in SUFC (70.6%) for £1.
“Roots Hall stadium £4.5m. This was the purchase price paid 25 years ago.
“We could agree to spread the purchase price of Roots Hall over 3 years with no rent payable in between.
“I am happy to sell the new training ground at cost.
“The money to fund the Club’s debt is not required on day one. The Club assesses the cash required in the short term, including settling HMRC (releasing the embargo), to be about £1m. The balance of debts (around £1.5m) can be spread over a period of time, as we have with many of our creditors.
“There has been much misinformation and many inaccurate rumours. I hope this statement clears that up.”
Takeover talks had been ongoing since May, thought the club’s future is at serious risk due to a winding-up petition.
Supporters are protesting outside Martin’s home worried the club could fold.
Southend United fans protest against owner Ron Martin
— Ollie Bayliss (@Ollie_Bayliss) July 16, 2023
Martin has been the owner of the club for 25 years, he announced in March that he was putting the club up for sale and still wants to relocate from their home at Roots Hall, redeveloping the site to make way for housing and move to a new stadium at Fossetts Farm – but work at the site is yet to begin and has been long in the planning.
Southend have had may a winding up petition prior and within Martin’s tenure.
The case was adjourned for 42 days on the 12th of July, allowing more time for a sale of the club to be completed, but this revelation from Kimura puts doubts on that.
Southend are set to start the new National League season at home to Oldham on the 5th of August, with protests expected.
The club said their friendly against Billericay at the weekend, was cancelled because of “injuries to contracted players”.
SEE MORE: Southend manager Kevin Maher has his say on uncertain future for the club
As mentioned, fans say it’s terrifying times as the frontrunners for the planned Southend takeover give a bleak update…
@simonharris_mbd: I can only see the ‘Phoenix’ club scenario now realistically. A few years of pain but a new community asset we could all invest in, no matter how much or how little. Perhaps Southend CC could block any demolition of Roots Hall to help things along so Ron can’t balls that too.
@KetchleyShane: This is what happens when dealing with a knob like Ron. Kimura had plans to take us forward they had the fan base and the club at the heart of all plans. Ron is just determined to kill us
@antsk: The lead bidders don’t want to lead, but they’re not pulling out?! Very confusing
@mattysufc: Seems to me that Kimura have acted in a very irresponsible manner to make this decision now rather than a month or so ago. No doubt Rons lies haven’t helped.
@slimmatt1: Em has lied non stop in the negotiations with kimura and the statement he put out earlier this week was the 1st time any of those conditions had been raised
@mattysufc: I suspected as much to be honest. Never trust that Rat!
@DanielT171284: Reading between the lines, they are the only party looking to buy the club but need someone else to be involved, it’s becoming more worrying that they will go out of business.
@sjapresley: RM said he wanted the deal done by 1 July originally, so now surely he has to take us forward and start owning his responsibilities? Whether we like it or not, the main focus for the short term is to start the season…
@samtheshrimp18: So they are happy to be involved, but don’t want to be the main party, and there isn’t anyone else. Yet everyone itk was excited yesterday. What’s going on?
@Badgersno1: Time wasters then, football club tyre kickers
@jervetheswerve1: It just gets worse and worse can’t see anyway out now considering the timescale it needed to happen this week imo.
@arenashrimper: Or maybe Kimura are making way for the consortium mentioned in Jack’s twitter discussion last night and don’t want to be played by Ron Martin anymore.
@AustinWilks: They basically don’t have enough money to do it on their own.
@PistolPeteDunn: Definitely not a “we are your saviours” statement. The little hope I had has now gone.
@rayleighmartin: When someone posts ‘bosh’ it doesn’t scream of professionalism, just wasted everyone’s time and emotions, “but we do not believe that we are the right people to lead this at this time” must have known this all along, surely. What a waste of time!
@LukePurcell1982: #wallop #shambles conduct your business quietly and professionally until you have something credible to say. Sending out false hope to thousands of honest and genuine supporters for more followers! Regardless if Ronald has sh*t on the deal!
@Andy150281: From what I’ve read, they wanted everything including FF. From RM statement that’s not included in the deal. Can see why they don’t wanna lead if only got RootsHall. Or am I wrong
@davidplittle: Seems like game over for the club…national League should just put everyone out of their misery…..
@beardysocialist: Does this mean we’re done? Time is ticking and we owe people a lot of money.
@sufcnum1: Are they saying that they have had enough of Ron? Do they not want to be the majority holder? Just more questions. 😔😔
@dannyryanhey: We’re doomed 😞
@elton_gee123: Oh dear. Not good. Oh well, was fun while it lasted.
@southendandy: That’s it then we’re a dead club.
@RouletteFF: oh fuck. this is bad 🫣
@ShrimpersTalk: wow that was underwhelming
When the main bidding party for Southend United is asking for outside investment, you know there’s a real chance this club is going extinct. Never been more scared that my club will go under than this morning. Terrifying times. https://t.co/mqsg9R7cQk
— Dylan Walsh (@dylanwalsh_) July 20, 2023
This is bad news for Southend United fans.
The one buyer in town effectively saying we don’t think we can fund this on our own.
The only reason HMRC kept adjourning the decision was because Ron said there was a buyer.
Southend United on the brink. https://t.co/Tgd8L6Kv2K
— Sporting Minute (@sportingminute) July 20, 2023
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