Deleted
Joined: January 1970
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Post by Deleted on Jan 26, 2016 19:05:23 GMT
I saw a news item apparently Northamptons chairman has been arrested,it mentioned something about a £10 million pound loan ?,anyone heard anything about problems there ?. Sorry its the ex chairman,been arrested and bailed,investigation into financial irregularity. |
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Post by chinnorexile on Jan 26, 2016 19:13:29 GMT
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Post by bluebeard on Jan 26, 2016 19:19:30 GMT
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Post by o2o2bo2ba on Jan 26, 2016 19:20:03 GMT
Hope so..
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Deleted
Joined: January 1970
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Post by Deleted on Jan 26, 2016 19:50:51 GMT
Not going to happen, they have a new owner who has done a deal with the council meaning the debt has been written off.
From the BBC "The Cobblers have since been taken over with a memorandum of understanding now allowing for the club's debt to be wiped out in return for the council acquiring land around Sixfields for development."
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Post by droitwichgas on Jan 26, 2016 20:04:37 GMT
The whole affair seems dodgy to me as why would NCC write off a £10m loan just for some development land? I wonder how much of the "missing" £10m was spent on putting together what looks a very useful squad of players??
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Deleted
Joined: January 1970
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Post by Deleted on Jan 26, 2016 20:25:59 GMT
The whole affair seems dodgy to me as why would NCC write off a £10m loan just for some development land? I wonder how much of the "missing" £10m was spent on putting together what looks a very useful squad of players?? Perhaps the development land is worth more than £10m and if it fell into the hands of administrators it would cost the council more than £10m? |
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Post by droitwichgas on Jan 26, 2016 20:58:49 GMT
The whole affair seems dodgy to me as why would NCC write off a £10m loan just for some development land? I wonder how much of the "missing" £10m was spent on putting together what looks a very useful squad of players?? Perhaps the development land is worth more than £10m and if it fell into the hands of administrators it would cost the council more than £10m? Unless I'm missing something when do councils ever buy land just for development for that type of outlay?? |
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Deleted
Joined: January 1970
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Post by Deleted on Jan 26, 2016 21:01:20 GMT
Perhaps the development land is worth more than £10m and if it fell into the hands of administrators it would cost the council more than £10m? Unless I'm missing something when do councils ever buy land just for development for that type of outlay?? When they are owed £10m but the owners of the land. |
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Bridgeman
Alfie Biggs
Joined: May 2014
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Post by Bridgeman on Jan 26, 2016 21:07:38 GMT
Land available for development is at a premium.
The Council can sell it to make the £10m back, someone would have assessed the value of the land in question before acquiring it, many Council's are having to sell land they own to maintain the services they provide.
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Deleted
Joined: January 1970
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Post by Deleted on Jan 26, 2016 21:12:23 GMT
Unless I'm missing something when do councils ever buy land just for development for that type of outlay?? When they are owed £10m but the owners of the land. This is the same council that has purchased land for a new railway station. Speaking to a friend he believes that it is going to be a new retail park, hotels etc. The rent income will be a good earner for the council and that is better than the football club going bankrupt and them getting nothing. |
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Deleted
Joined: January 1970
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Post by Deleted on Jan 26, 2016 21:21:04 GMT
When they are owed £10m but the owners of the land. This is the same council that has purchased land for a new railway station. Speaking to a friend he believes that it is going to be a new retail park, hotels etc. The rent income will be a good earner for the council and that is better than the football club going bankrupt and them getting nothing. Exactly. This is the same council which originally built and owned the stadium. On my first visit Northampton were tenants. |
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