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Post by bluebeard on Aug 5, 2015 19:11:54 GMT
Care to say how many Football clubs have borrowed from Wonga style companies? Clubs mainly borrow from banks, shareholders or other directors. Banks have been known to do pre-packs and the club and ground stay together. The Administrator will get the best possible price to fund the creditors and his fees and won't worry about what fans think.The likes of MSP have no sympathy and are hard nosed business people who get high interest rates for taking greater risks. I have dealt with clients in the past who have had expensive bridging loans and these people don't take prisoners. It gets steeply expensive if you fail to repay or want to refinance. The ground and club are separate companies albeit that the club is owned by 1883 Ltd whose asset is the Mem. It is ideally structured to flog off the asset and the club as two separate lots. Not saying it would definitely happen as I don't have crystal balls, but it is always a possibility. Of course a white knight could be coming over the hill at any moment..............no, pink porcine creatures. So I see you can't name any. Me neither. Still I disagree with the line in bold, that's what Adminstrators do in normal circumstances but when it comes to football just like successful businessmen logic goes out the window. The MEM is slightly different because it already has planning consent for alternative use. I bet a lot of grounds have restrictive covenants e.g what are you going to do with a football stadium in Plymouth other than give it back to Plymouth Argyle FC? The fact remains though that, if a football club goes bust, an administrator cannot sell its stadium if the club doesn't actually own it.
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Thatslife
"Decisions are made by those who turn up"
Joined: June 2014
Posts: 669
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Post by Thatslife on Aug 5, 2015 19:29:01 GMT
The difference in our case is that Exeter and Plymouth are one team cities (football-wise at least). Can anyone imagine Bristol City Council buying the Memorial Stadium off of an Administrator to avoid us becoming homeless? No, but if they bought the Mem (which is worth at least £10m) for £1.6m and leased it back to BRFC with an 8% return, it wouldn't be too bad a deal for the tax payer. We don't know either, whether the Exeter and Plymouth grounds were owned by a separate company. If they were, both clubs could, in theory, have walked away from their unsecured debts and reformed without the stadium being affected. Southampton tried to manipulate a group structure in a different way to avoid their liabilities without getting points deducted. The league saw through it and sanctions were imposed anyway. Saints kept their ground though and they seem to be doing quite well now. Selling the ground and renting it back sounds a reasonable solution, except, that's how we lost Eastville. We sold it to The Stadium company, who, when the lease was up for renewal, made the new rent so high we couldn't afford to stay. Down to a certain Ian Stevens if I remember correctly.
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Deleted
Joined: January 1970
Posts: 0
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Post by Deleted on Aug 5, 2015 19:47:32 GMT
No, but if they bought the Mem (which is worth at least £10m) for £1.6m and leased it back to BRFC with an 8% return, it wouldn't be too bad a deal for the tax payer. We don't know either, whether the Exeter and Plymouth grounds were owned by a separate company. If they were, both clubs could, in theory, have walked away from their unsecured debts and reformed without the stadium being affected. Southampton tried to manipulate a group structure in a different way to avoid their liabilities without getting points deducted. The league saw through it and sanctions were imposed anyway. Saints kept their ground though and they seem to be doing quite well now. Selling the ground and renting it back sounds a reasonable solution, except, that's how we lost Eastville. We sold it to The Stadium company, who, when the lease was up for renewal, made the new rent so high we couldn't afford to stay. Down to a certain Ian Stevens if I remember correctly. You remember correctly and who was also on the Rovers board as well. Ironically the rent was made high as a deal with Tesco had already been done for the Muller Road car park on condition that football was not allowed on a Saturday hence pushing the Rovers out of Eastville! At least Nick Higgs heart is/was in the right place. Unlike some back in those dark days.
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nsgas
Joined: July 2014
Posts: 61
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Post by nsgas on Aug 5, 2015 20:07:45 GMT
The difference in our case is that Exeter and Plymouth are one team cities (football-wise at least). Can anyone imagine Bristol City Council buying the Memorial Stadium off of an Administrator to avoid us becoming homeless? No, but if they bought the Mem (which is worth at least £10m) for £1.6m and leased it back to BRFC with an 8% return, it wouldn't be too bad a deal for the tax payer. We don't know either, whether the Exeter and Plymouth grounds were owned by a separate company. If they were, both clubs could, in theory, have walked away from their unsecured debts and reformed without the stadium being affected. Southampton tried to manipulate a group structure in a different way to avoid their liabilities without getting points deducted. The league saw through it and sanctions were imposed anyway. Saints kept their ground though and they seem to be doing quite well now. Nobody is going to sell a £10m asset for £1.6M.
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Post by pirate49 on Aug 5, 2015 20:24:35 GMT
Like I've repeatedly said the University will not pay for a stadium. That doesn't answer may question though? As far as the other poster saying UWE have not submitted plans that doesn't mean they, or somebody acting for them, hasn't had off the records discussions about how a formal planning application would be conidered. I assume Rovers discussed their plans with S Glos before annoucing them publicily. I can't see Lansdown really spending £20m just for his ladies football team, and whilst concerts etc might bring in money weren't they restricted to 4 a year anyway? Back in 2012............... info.uwe.ac.uk/news/UWENews/news.aspx?id=2329
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mjg
Mickey Barrett
Joined: September 2014
Posts: 48
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Post by mjg on Aug 5, 2015 21:15:30 GMT
Started writing what was sure to be a witty and insightful post, Pressed the button too early, not for the first time, sorry.
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vaughan
Joined: June 2014
Posts: 1,237
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Post by vaughan on Aug 5, 2015 22:04:38 GMT
We need a foreign investor who is interested in legacy-type investment in sport and education in a prestigous UK City.
Revisit the lyrics of David Soul's "Don't give us up on us, baby" and you will soon know that "we can still come through".
#ITK...ish or #just nostalgic for middle-of-the-road 70's music.
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Deleted
Joined: January 1970
Posts: 0
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Post by Deleted on Aug 5, 2015 22:07:22 GMT
Selling the ground and renting it back sounds a reasonable solution, except, that's how we lost Eastville. We sold it to The Stadium company, who, when the lease was up for renewal, made the new rent so high we couldn't afford to stay. Down to a certain Ian Stevens if I remember correctly. You remember correctly and who was also on the Rovers board as well. Ironically the rent was made high as a deal with Tesco had already been done for the Muller Road car park on condition that football was not allowed on a Saturday hence pushing the Rovers out of Eastville! At least Nick Higgs heart is/was in the right place. Unlike some back in those dark days.
Should I be boycotting Tesco as well? Thank goodness for Waitrose (as ever).
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Deleted
Joined: January 1970
Posts: 0
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Post by Deleted on Aug 5, 2015 22:42:37 GMT
No, but if they bought the Mem (which is worth at least £10m) for £1.6m and leased it back to BRFC with an 8% return, it wouldn't be too bad a deal for the tax payer. We don't know either, whether the Exeter and Plymouth grounds were owned by a separate company. If they were, both clubs could, in theory, have walked away from their unsecured debts and reformed without the stadium being affected. Southampton tried to manipulate a group structure in a different way to avoid their liabilities without getting points deducted. The league saw through it and sanctions were imposed anyway. Saints kept their ground though and they seem to be doing quite well now. Selling the ground and renting it back sounds a reasonable solution, except, that's how we lost Eastville. We sold it to The Stadium company, who, when the lease was up for renewal, made the new rent so high we couldn't afford to stay. Down to a certain Ian Stevens if I remember correctly. And he always bloody scored against us. I never got to go to real Wembley because of one of his goals.
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Deleted
Joined: January 1970
Posts: 0
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Post by Deleted on Aug 6, 2015 0:24:00 GMT
We need a foreign investor who is interested in legacy-type investment in sport and education in a prestigous UK City. Revisit the lyrics of David Soul's "Don't give us up on us, baby" and you will soon know that "we can still come through". #ITK...ish or #just nostalgic for middle-of-the-road 70's music. Didn't they sing Soley Soley?
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Deleted
Joined: January 1970
Posts: 0
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Post by Deleted on Aug 6, 2015 0:29:51 GMT
Selling the ground and renting it back sounds a reasonable solution, except, that's how we lost Eastville. We sold it to The Stadium company, who, when the lease was up for renewal, made the new rent so high we couldn't afford to stay. Down to a certain Ian Stevens if I remember correctly. And he always bloody scored against us. I never got to go to real Wembley because of one of his goals. He was a bloody jinx but the Rovers version liked to score in more unsavoury environments.
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LPGas
Stuart Taylor
Joined: May 2014
Posts: 1,240
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Post by LPGas on Aug 6, 2015 9:27:38 GMT
I'll say this again. Why would a University want to build a stadium? They have planning permission which can be modified. Why should they not cover every angle. They seem to have been professional in all that's been happening with the BoD and Shamesburys. If they fear BRFC will go under they will also know that with such a large fanbase a phoenix club will rise in the form of a new company or an AFC BRFC. That club will need a stadium because MSP will call their charge on the Mem and the Administrator will sell to the best bidder who will be unlikely to use the Mem as a Sports ground or care about its "Memorial" status. If it is a supermarket they won't care about fans having a stadium or the Nimbys having a flower garden either (Trash take note). UWE owning the stadium would mean they take nearly all revenues and have a sports complex that can be used by students and for sports scholarships. Makes sense if the BoD lose the case and BRFC crashes. PS LPG, is that In the Know or is there another Hidden Agenda ((copyright) Henbury Gas 2015) I have a hidden agenda, well hidden from the missus
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LPGas
Stuart Taylor
Joined: May 2014
Posts: 1,240
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Post by LPGas on Aug 6, 2015 9:31:37 GMT
Council owns Swinedons ground, and Council own Northamptons ground for a long time Brentford didn't own their own ground, and remember Oxfords troubles.
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Rex
Predictions League
Joined: June 2014
Posts: 3,287
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Post by Rex on Aug 6, 2015 9:43:17 GMT
We need a foreign investor who is interested in legacy-type investment in sport and education in a prestigous UK City. Revisit the lyrics of David Soul's "Don't give us up on us, baby" and you will soon know that "we can still come through". #ITK...ish or #just nostalgic for middle-of-the-road 70's music. Didn't they sing Soley Soley?
I had it on a TOTP album, a classic!
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Deleted
Joined: January 1970
Posts: 0
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Post by Deleted on Aug 6, 2015 13:34:46 GMT
Didn't they sing Soley Soley?
I had it on a TOTP album, a classic!
Spot on again. She looked bloody lovely in those shorts.
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