Trust look to buy the CG

[Summerof69]

http://www.swindonadvertiser.co.uk/news/15158582.Supporters__Trust_consider_bid_for___1_1m_County_Ground/

For more info come to the Trust AGM tonight at the Goddard Arms

http://truststfc.tv/agm/

[Sippo]

I believe James Phipps is part of the trust....

Thankyou.

[Tails]

Wish I could head down but wouldn't be able to get there on time.

Look forward to the updates

[FrigbyDaser]

Good luck to them. I'd be interested to hear how this is intended to work if Power continues to own the club. I've finally reached the point that I'm convinced we need new owners.

[Peter Venkman]

Fair play to them if they can come to an agreement with the council and then the club over rental.

Hopefully then the ground facilities can then be brought up to league 2 standard.

The problem may arrise if the present or future owners of the club decide to eventually move to a new ground, thats a large investement with that sporting covenant hanging over their heads meaning the land cannot be sold for anything other than sporting use rendering it almost valuless if that did happen in time unless the covenant can be changed.

[Don Rogers Sock]

Great idea. Struggling to see any downside to this.

[ronnie21]

A very good plan - in principle!  Can never see it happening sadly but it would be good for the town in general if it could happen but let us not forget that although SBC appear to be supportive of the principal there is an awful lot of work to do before any conclusion.  SBC also offered the club some land on which to build a new stadium some years ago and quickly withdrew that offer after ONE councillor raised objections!!

[jayohaitchenn]

I'll chip in a 5er

[horlock07]

Would be great if it came off, and if the Club are paying c.200k PA for it that's an 18% yield on the investment which is unheard of, although I do wonder whether the members will go for such a beneficial deal to the Trust which is not great value for the tax payer, especially as the idea that it will include a club museum, sport-themed hotel and gym, and a ‘Legends Way’ suggests its more than the footprint of the ground?

The next step would be raising the money to actually tidy the place up a bit, whilst the Trust would not be looking to take a profit c.£200k per year is not a lot of money to bring up to standards so we shall see. Plus I am sorry to say whenever I read the word 'investors' in terms of buying any football ground my ears prick up and my bum gets squeaky.

At least a bit of bright news....

[pauld]

The problem may arrise if the present or future owners of the club decide to eventually move to a new ground, thats a large investement with that sporting covenant hanging over their heads meaning the land cannot be sold for anything other than sporting use rendering it almost valuless if that did happen in time unless the covenant can be changed.

Which it can, it can be bought out from the Goddard estate. We go over this every time the covenant is discussed!

[horlock07]

Which it can, it can be bought out from the Goddard estate. We go over this every time the covenant is discussed!

Indeed but at even greater cost to the Trust/Investors?

[pauld]

Indeed but at even greater cost to the Trust/Investors?

Well, yes, but it's an exit route in the scenario that PV posited - not suggesting it's easy/desirable, but buying the ground doesn't have to mean you're locked into a dead elephant (mixed metaphor intentional!) in the event that a future owner moved to a different ground. It's an excellent scheme IMO

[Riddick]

Forgive my ignorance but i don't see why this is such a good idea?

If the club wishes for any future beyond being a 4th division club then it requires either complete ground redevelopment or a new ground. Either scenario being required for the club to generate income beyond the 23 home days in a season. Now given this is the only way to potentially make money from the club why is the trust owning this a good idea when its the only thing that a new owner/investor would really want with the club? Especially given the trust i assume would not be able to sell this to an investor and the council would have a buy back clause.

It seems to me something that could help the club in the short term possibly but given the only real future for the club requires us to make the leap 2/3rds of the football league already has i'm not sure how it solves the bigger problem here.

[Audrey]

Maybe it's the first step to STFC being a trust-owned club. Maybe there is someone in the background willing to step in and revamp the ground as long as it's not council owned.

It's about the only bright spot in a shite couple of seasons.

[Pericles]

My concern is what Lee Power has planned. Would buying the ground safeguard us from administration once he decides to walk away, presumably after he's cashed in on Vigs? It might sound like a stupid question but I genuinely want to know.