Trust look to buy the CG

[horlock07]

I may have misconstrued what Power said, but does he mean he hopes to buy the CG but not to necessarily upgrade it himself, but more as an attraction to someone else who would?

Ditto the Training Ground.

I’d assume £2m to SBC would be the end of their interest in the CG - unless they have a sell on clause. If it eventually sells for, say, £10m to the next owner, the Council would be lambasted.

As he is making much of the Axis involvement and the fact that he wasn't interested until he got development expertise on board, that would suggest something is planned...

See my earlier comments regarding the Council....

[Peter Venkman]

Yes as I intimated to a few weeks back too.

It appears the council need the money thats definately one part but I think the other is that Power now has on board the director from Axis who have a lot of experience in redevelopment.

Obviously thats just a guess.

Power was not interested at all until Axis came onboard, only time will tell though.

[jayohaitchenn]

If the Trust don't buy the ground now it is available they are effectively finished as an organisation. I'd be happy with Power buying, as long as the ground is owned by the club.

[Reg Smeeton]

If the Trust don't buy the ground now it is available they are effectively finished as an organisation. I'd be happy with Power buying, as long as the ground is owned by the club.

Power owns the club ergo Power will own the ground.  I don't trust Power and I don't trust SBC.  Think a lot of this is spin.

[Bogus Dave]

Power owns the club ergo Power will own the ground.  I don't trust Power and I don't trust SBC.  Think a lot of this is spin.

Lee power =/= the club

[fittons_coaching_badge]

I have more faith in Power than I do the trust.  Quite frankly I think the trust are just a load of hot air and very little tangible output.

[Reg Smeeton]

Lee power =/= the club

He is the owner... therefore it's his club.  

Maybe you see him as a Wycombe style benefactor like Frank Adams at recently visited Wycombe. Adams bought Loakes Park where they used to play and gave it to the club. Its sale generated the $ to build Adams Park.

[Power to people]

I would want a lot more detail from both organisations on the ownership structure of the ground, would the ground be owned by stfc and then well the football club is sold the ground is part of it or will be owned by a separate company and there is potential to sell one without the other.
Need to know who is putting up the money and what future plans are and what ways it would be used to increase revenue.

While Power has done nothing to suggest he would run off with the ground and charge a huge rent and let go of the less profitable club, it is a concern and needs to be dealt with in such a way this could not happen.

Would I trust SBC to do the right thing ? No, I would expect them to sell to the highest bidder sadly.

Although I understand this worked well at pompey where they had x large bond holders who had a bigger say when it came to selling the ground as they had invested a lot more money and eventually agreed to send to Mr Disney.

[Posh Red]

Actually the biggest concern would come when Power sells up.

If he does what Black did & sells to anyone who fits his timeline rather than someone who cares about the football club, then we would be in the shit.

Just imagine if Jed had been able to sell the ground, we’d probably be ground sharing with Supermarine or Chippenham nowp

[horlock07]

I would want a lot more detail from both organisations on the ownership structure of the ground, would the ground be owned by stfc and then well the football club is sold the ground is part of it or will be owned by a separate company and there is potential to sell one without the other.
Need to know who is putting up the money and what future plans are and what ways it would be used to increase revenue.

I would imagine that even where clubs own grounds in entirely stable situations the ground and the club owning vehicles remain separate entities to prevent either becoming a liability upon the other.

Would I trust SBC to do the right thing ? No, I would expect them to sell to the highest bidder sadly.

Taking off STFC coloured glasses off for a minute why should they not do so with a Public owned asset, I would imagine that there would be uproar from the 90% of Council tax payers who give not one shit for the club if the Council did not seek best value for their asset.

Yet still silence from the Trust, at least some clarity on where they stand with the ACV designation which in theory gives them first dibs would be useful, I can understand the Council seeking alternative arrangements if they don't think the Trust can raise the cash, but it all seems very peculiar this has come out into the public domain whilst all the cards seem to still be in the Trusts hands?

[Audrey]

Just got to hope Power doesn’t do a Uncle Firoz on us and sell the club but retain ownership of the ground/training facility and screw us for the rent.

From what he says, though, it looks like he intends to cash in the entire kaboodle when he leaves.

The big question mark for the Trust is what funds do they have re upgrading the CG if they buy it. Mind you, the same question applies to Power, too. Which is why I reckon he will buy the ground and sell the club and let any new owner develop it.

The Axis angle could just really be to give his bid that bit more leverage.

[Flashheart]

I get the impression that Axis will handle the redevelopment and take their share when it comes to selling.

[horlock07]

I get the impression that Axis will handle the redevelopment and take their share when it comes to selling.

Possibly, however I have never seen anything to suggest that Axis go beyond contracting, meaning that there is rather a big gap in the process?

[Reg Smeeton]

I would imagine that even where clubs own grounds in entirely stable situations the ground and the club owning vehicles remain separate entities to prevent either becoming a liability upon the other.

Taking off STFC coloured glasses off for a minute why should they not do so with a Public owned asset, I would imagine that there would be uproar from the 90% of Council tax payers who give not one shit for the club if the Council did not seek best value for their asset.

Yet still silence from the Trust, at least some clarity on where they stand with the ACV designation which in theory gives them first dibs would be useful, I can understand the Council seeking alternative arrangements if they don't think the Trust can raise the cash, but it all seems very peculiar this has come out into the public domain whilst all the cards seem to still be in the Trusts hands?

SBC are not to be trusted, as having the best interests of Swindon at heart.  If they did, they certainly wouldn't be selling a historic cultural asset to Lee Power.  Did Manchester City Council sell their asset of a stadium to Abu Dhabi... no, they take the rent from City, and gain the soft power benefit of having a second major football club in the city.

[Audrey]

They’re certainly not covering themselves in glory re Lydiard Park. That Perkins fella is a piece of work.