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Trust Statement - SUFC Finances
13th October 2020

SOUTHEND RE-UNITED, AND A BRIEF GENERAL UPDATE

The Shrimpers Trust held a further Board meeting on Monday (12 October) at which the club's finances were again the main discussion point. We continue to be in regular contact with Ron Martin, and the Trust Board are also aiming to have a meeting with him immediately after the 28 October 2020 deadline for payment of the remaining debt to HMRC.

The monies raised so far under the 'Southend Re-United' campaign total £1,588.74, which includes £403.74 received from the 'Save Our Southend' appeal on GoFundMe.

To this can be added the sum of £6,411 (from the previous campaign in 2009) which remains in the Trust's reserves.

We would like to sincerely thank everyone who has made a contribution to the campaign. It currently remains our intention to take stock of the position during November and use whatever monies have been accumulated to help support the club'' ongoing finances.

New members continue to join the Trust (119 since the HMRC court case on 16 September 2020) and this further helps the Trust build up funds to ultimately help our club. The new member total includes 11 life members, one of whom we are delighted to say is SUFC Board member Gary Lockett.

The facility to make donations to the 'Southend Re-United' campaign remains open and can be found here.
 

 
27th September 2020
 
Following Ron Martin's interview on the BBC, the Trust felt it should comment on some of the content.

Ron had informed the Trust Chairman that funds would be received from the parent company of SUFC. This is the money that will be used to clear the HMRC debt before the 28th of October. The Trust were resisting calls to mount a specific funding campaign prior to Ron making public his intentions. We are pleased to hear the news regarding funding, but remain cautious as to the timing for obvious reasons. Further, it goes without saying that the funding of ongoing operations for any club in these times is perilous.

The Trust is delighted to have received so many offers of help recently and also to have seen a significant increase in our membership.

We applaud the individual efforts to raise money for our club. Whilst Ron has intimated that the club's funding is being addressed, we do believe it to be appropriate for help to be given to the club at least regarding ongoing operations, and indeed we understand that other clubs have received financial help from their fans for this purpose.
With this in mind we will be setting up a Trust fighting fund - 'Southend Re-United' - to provide the club with targeted ongoing financial support, and we will release details of that in the next few days. It is intended that this fund will receive the existing monies raised by fans via separate appeals where those appeal groups agree.

Ron in his BBC interview praised the Trust and its support for the club. A key focus of our strategy for a number of years now has been to provide sponsorship for the youth team - last season we donated £8,000 specifically to them. We have however stepped in a couple of times for other reasons. We anticipate this support to continue, and indeed it has been encouraging to see the progress of many of the club's youngsters to the first team at a time when they were really needed.
 
Our increased revenue due to the increase in Trust membership levels will allow our support in this vital area to be maintained. If you have not yet joined the Trust and wish to do so then you can at the following link (membership subscriptions start at £7.00 for a one year adult membership): http://www.shrimperstrust.co.uk/home.asp?page_id=80

Rest assured, in our role as a  fan's voice,. we will look to maintain an ongoing dialogue with Ron. We also see it as vital to have contact with our club's manager, even more so in these 'socially distanced' times, and are arranging to catch up with Mark Molesley very soon too.

We will announce details of how you can donate to 'Southend Re-United' shortly.
 

 
24th September 2020
 
The Trust Chairman spoke with Ron Martin yesterday and received some reassuring comments regarding funds for the HMRC debt and ongoing costs. It is our view however, as we are sure it is for most fans, that a great deal of uncertainty still remains.

We understand that Ron Martin is speaking to the BBC today. Our Trust Chairman then has a further discussion booked with Ron Martin on Friday.

The situation is clearly very fluid and at this moment in time it is difficult to propose any action such as a fundraising campaign until we have managed to get further clarity. For now, we reserve judgement and propose to issue a further communication after the next discussion with Ron.

On a really positive note, we are pleased and delighted to have welcomed so many new members recently and would further urge others to consider joining now at what is a crucial time in the history of our club. As always, contrarian views are welcomed (whether it comes from a Trust member or not) and by joining the Trust it will continue to grow and become even stronger to thereby further enable us to face whatever challenges may lie ahead in the future.
 

 
22nd September 2020
 
Yesterday evening the Shrimpers Trust held a Board meeting at which the future of the club was discussed at length.
 
We agreed an action plan with some key positive steps agreed, and this will now urgently be considered with Ron Martin. We are mindful of the need to act quickly and will be looking to communicate more in the coming days.
 
Meanwhile, we are immensely encouraged by the significant increase in new members coming to the Trust in recent days and we would like to thank you all as well as those of you who are existing members or in the process of renewing your subscription.
 
Without your support we could not do what we do which is to act in the best interests of all for the future of the football club that we all love.
 

 
17th September 2020
 
Yesterday the Trust put out a statement, in advance of that then provided by the club chairman.
 
Within the confines of the current challenges of Covid-19 restrictions, we will be having a Trust Board meeting on Monday devoted solely to considerations regarding the future of our club.
 
We will keep people informed of our views and actions in these clearly difficult times.
 

 
16th September 2020

The Trust are pleased to see that Southend United have not gone the same way as Macclesfield Town this morning at the high court, our sympathies go to their supporters.

Since the hearing, the Trust have been assured (by Ron Martin) that a Statement will be released later today covering the current status.

It would be wrong for us to comment any further (yet) other than to say that we hope the statement clarifies the Financial situation at the club and the situation regarding the signing/registering of players.

Southend Fans are understandably extremely worried at this time and look to the Chairman for re-assurance.

  
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