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Post by a more piratey game on Nov 6, 2015 20:00:03 GMT
this in the Grauniad today....
www.theguardian.com/football/2015/nov/06/northampton-town-extinction-missing-millions
the bit that I thought might be of interest is in blue - might along the lines of what NH is considering?
In forthright statements Buckingham made to the Northampton Town Supporters Trust and on its own website, the developer said the club scaled down the original £8m specifications for a quality new East Stand to “a bog standard” structure which would have cost only £4m. Despite that, Buckingham says it was paid only £442,000, and had to pursue Grossman for £1.9m then owing. When this was not forthcoming, Buckingham put 1st Land into administration. The administrator, Mazars of Birmingham, found no cash in 1st Land’s bank account. |
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brizzle
Lindsay Parsons
No Buy . . . No Sell!
Joined: May 2014
Posts: 4,293 
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Post by brizzle on Nov 6, 2015 20:04:53 GMT
That's unleashed the hounds of doom . . . again.  |
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Post by Curly Wurly on Nov 6, 2015 20:16:51 GMT
I'm afraid the Cobblers look like a complete financial basket case from that report.
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Peter Parker
Global Moderator
Richard Walker
You have been sentenced to DELETION!
Joined: May 2014
Posts: 4,920
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Post by Peter Parker on Nov 6, 2015 21:47:13 GMT
Ardnt Buckingham supposed to be our builders as well?
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Deleted
Joined: January 1970
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Post by Deleted on Nov 6, 2015 22:22:07 GMT
I'm struggling to see a link to our proposed stadium here?
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Post by Curly Wurly on Nov 6, 2015 22:29:47 GMT
I'm struggling to see a link to our proposed stadium here? You need to think more laterally! From the thread title I suppose the link is that the cobblers negotiated a reduced sized development when the cash got tight and so might we? Sounds like someone was trying to get a new pad but with the council's money, allegedly! |
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GasMacc1
Les Bradd
Joined: May 2014
Posts: 1,423
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Post by GasMacc1 on Nov 6, 2015 22:40:15 GMT
"...there is a huge, grim question over where £10.25m has gone, which was lent to the club by Northampton borough council between September 2013 and August 2014..."
I wonder if any of that cash was used to bolster the playing side, helping the Cobblers to finish clear of the relegation places that year?
Hang on a minute...!
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Deleted
Joined: January 1970
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Post by Deleted on Nov 6, 2015 22:42:02 GMT
I'm struggling to see a link to our proposed stadium here? You need to think more laterally! From the thread title I suppose the link is that the cobblers negotiated a reduced sized development when the cash got tight and so might we? Sounds like someone was trying to get a new pad but with the council's money, allegedly! But Cobbler's East Stand definitely partially exists. Which makes it a very different and more real proposition than our proposed new stadium is. |
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Post by chippenhamgas on Nov 6, 2015 23:18:52 GMT
You need to think more laterally! From the thread title I suppose the link is that the cobblers negotiated a reduced sized development when the cash got tight and so might we? Sounds like someone was trying to get a new pad but with the council's money, allegedly! But Cobbler's East Stand definitely partially exists. Which makes it a very different and more real proposition than our proposed new stadium is. Yep and it will be finished before one brick is laid at the uwe site. |
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Post by Curly Wurly on Nov 7, 2015 9:33:09 GMT
But Cobbler's East Stand definitely partially exists. Which makes it a very different and more real proposition than our proposed new stadium is. Yep and it will be finished before one brick is laid at the uwe site. Not unless someone can find the missing cash, it won't |
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Igitur
Joined: June 2014
Posts: 2,294
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Post by Igitur on Nov 7, 2015 10:23:31 GMT
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Post by Henbury Gas on Nov 7, 2015 11:57:41 GMT
Think they are f***ed unlike us who have a company with well established credit lines....
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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 Nov 7, 2015 12:02:13 GMT
this in the Grauniad today....
www.theguardian.com/football/2015/nov/06/northampton-town-extinction-missing-millions
the bit that I thought might be of interest is in blue - might along the lines of what NH is considering?
In forthright statements Buckingham made to the Northampton Town Supporters Trust and on its own website, the developer said the club scaled down the original £8m specifications for a quality new East Stand to “a bog standard” structure which would have cost only £4m. Despite that, Buckingham says it was paid only £442,000, and had to pursue Grossman for £1.9m then owing. When this was not forthcoming, Buckingham put 1st Land into administration. The administrator, Mazars of Birmingham, found no cash in 1st Land’s bank account. A smaller stadium is not possible at the moment. Under the current planning permission and the S.Glos regional development plan, the stadium has to be a 22000 ish all seater. Also a smaller stadium would probably mean a smaller development around site, less commercial opportunities for investors etc. |
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Post by Topper Gas on Nov 7, 2015 13:09:19 GMT
You do have to wonder how Northants CC handed over £10m to a Div 2 football club without having any control over where the money went, it also appears they've lent a similar sum to Northampton RFC, although at least that was correctly spent on a new stand.
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Igitur
Joined: June 2014
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Post by Igitur on Nov 7, 2015 14:33:02 GMT
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