Lee Power siphoning off funds

[horlock07]

TBF, the DRS wasn't wholly government funded, there had to be a small element from the club or other source whci is why the SB plan was shelved.

Ray Hardman always claimed he saved moneyy by drawing the plans himself, which apparently was his trade.

It shows how much things get skewed over time, I always assumed that the SBN scheme never got planning due to residents amenity concerns?

[The Artist Formerly Known as Audrey]

Apparently, Uncle Firoz charges the Pox £500,000pa rent on the triangle.

What do we pay the council for our plush digs?

[garethgillman]

While that is certainly true if the Trust was running the whole operation with no other income other than Power currently gets, it's possible that the Club would be much more appealing to investment from big business in the Town if it was a transparent and community owned asset.

No guarantees of course, and there is the fact that the Trust wouldn't come with the football expertise of Power to consider.

realistically to buy the club would be around the £10m including the training ground, paying off Lee and Black plus funds for players and to pass the fit and proper test. How many people would have that cash to spend on a L1 club? Most only get bought when they are cheap as chips.

Motherwell just did a deal with their owner, they will pay them back over 3 years from player sales, but you have to have assets and even just paying Power back, £4m is a lot to make from player sales in 3 years unless you find a really good gem in the wild.

I can't see it happening, maybe Lee will once he has made his investment back? who knows but at the moment, it would take a lot to get take over the club.

[garethgillman]

Apparently, Uncle Firoz charges the Pox £500,000pa rent on the triangle.

What do we pay the council for our plush digs?

reportedly somewhere between £150 and £300k, going on news reports and from someone on the Trust board.

[horlock07]

Also worth noting that Andrew Black waved his £2 million sell on clause, when the club was transferred from Jed to Power. It's likely that he may be willing to consider doing so again were the Club to pass into the Trusts hands, rather than private investors.

Isn't the cash repayable to Black should ground redevelopment ever occur, something that will have to happen sometime even if the Trust were to take charge, generations of owners have discovered that a club that only makes money c.25 days a year will struggle in the modern game.

[Tails]

While that is certainly true if the Trust was running the whole operation with no other income other than Power currently gets, it's possible that the Club would be much more appealing to investment from big business in the Town if it was a transparent and community owned asset.

No guarantees of course, and there is the fact that the Trust wouldn't come with the football expertise of Power to consider.

Perhaps, but there's no guarantee and if someone is investing I'm guessing they wouldn't just give us money to splash on whatever. If the Trust could work as a consortium with someone who has a bit of financial clout and knowledge (any wealthy former players out there?!) then it could be feasible. I remember the Trust in it's old guise was on pretty good terms with Bill Power (correct me if I'm wrong pauld) when the idea of a potential fan takeover was mooted before Fitton took over.

[RobertT]

TBF, the DRS wasn't wholly government funded, there had to be a small element from the club or other source whci is why the SB plan was shelved.

Ray Hardman always claimed he saved moneyy by drawing the plans himself, which apparently was his trade.

The South Stand was a modular design that had previously been used at Meadow Lane.  The idea was that it could have some resale value should we ever decided to change it again and would also be easy to modify in the future.

[RobertT]

It shows how much things get skewed over time, I always assumed that the SBN scheme never got planning due to residents amenity concerns?

A couple of residents did raise objections, but the plans were never put through formal planning I don't think.  The club owned the first house, so that wasn't an issue, it was the next two along.  I spoke to the first privately owned house, he was very against it on the grounds it would infringe on the sun coming into his garden - often gotten around.  There were issues raised about noise, which would have likely been overcome as well.

[garethgillman]

A couple of residents did raise objections, but the plans were never put through formal planning I don't think.  The club owned the first house, so that wasn't an issue, it was the next two along.  I spoke to the first privately owned house, he was very against it on the grounds it would infringe on the sun coming into his garden - often gotten around.  There were issues raised about noise, which would have likely been overcome as well.

The only way to do it would be to switch the angle of the ground but would be very expensive, realistically our ground will never see any more investment, and the council won't ever let us leave so will be stuck in it for a long time, that's down to the council owning the ground the stadia is on, the council have to use the space for sports and if we leave the ground, they have a massive white elephant in town. Been plenty of plans over the years but due to plenty of issues none have ever come to fruition and unless the club leaves the swindon borough, I can't see us ever getting a new stadia.

[The Artist Formerly Known as Audrey]

realistically to buy the club would be around the £10m including the training ground, paying off Lee and Black plus funds for players and to pass the fit and proper test. How many people would have that cash to spend on a L1 club? Most only get bought when they are cheap as chips.

Motherwell just did a deal with their owner, they will pay them back over 3 years from player sales, but you have to have assets and even just paying Power back, £4m is a lot to make from player sales in 3 years unless you find a really good gem in the wild.

I can't see it happening, maybe Lee will once he has made his investment back? who knows but at the moment, it would take a lot to get take over the club.

Don't think the training ground would be part of any club sale. Power has stated it would remain rented to the club with him as landlord.

[RobertT]

Apparently, Uncle Firoz charges the Pox £500,000pa rent on the triangle.

What do we pay the council for our plush digs?

We pay an annual rent based on Turnover - so if we get more Revenue we pay more rent.  Therefore it varies from year to year, at least that was the case on the lease as it was a few years ago,  The sums of about £150k a year is a good average I think.  It's not huge, but the lease was short term meaning the club was tied into a position of not having any reason to invest in it's assets, and not having much luck with utilizing the ground in different ways with little support from the Council.

[garethgillman]

Perhaps, but there's no guarantee and if someone is investing I'm guessing they wouldn't just give us money to splash on whatever. If the Trust could work as a consortium with someone who has a bit of financial clout and knowledge (any wealthy former players out there?!) then it could be feasible. I remember the Trust in it's old guise was on pretty good terms with Bill Power (correct me if I'm wrong pauld) when the idea of a potential fan takeover was mooted before Fitton took over.

If there was, they would have come forward when we were in the shitter, a basically free club....... but supposedly only 2 people came forward, and the main one died (not sure how true?) hence we got left with Jed.

[RobertT]

Oddly enough the council had no problems getting a loan to buy a £15m car park - should have just asked them to build a Monaco style one a new ground.

[garethgillman]

Don't think the training ground would be part of any club sale. Power has stated it would remain rented to the club with him as landlord.

from what he said on the radio interview, if he was to sell the club it would be sold to the new owner in a "bundle" with the club (so it's a club asset) but until then he will rent it to the club for a "Peppercorn rate".

[Reg Smeeton]

Pretty sure the Council owns the physical asset of the NS and the club the rest.  The other stands have at various times been  used as security for various loans.
I'm leaving the NS financial issues to Reg, he does a good job on that one, but yes, it crippled the club and has exposed us to the situation we find ourselves in now.
The issue on repairs cropped up recently with Power and the council.

The problems of the payments for the Arkells were quite short term and settled by the club getting rid of the squash court and allowing SBC to set up The Alamo, which became a changing facility for the running track and other community use.