Trust look to buy the CG

[horlock07]

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

Indeed it is and I admit I am being unduly cynical when I see the suggestion that 'Investors' are involved?

If they buy the ground for say £1.1m, club decides to bugger off after 4 years (so they could have recouped say c.£1m in rent and remember that the club have to maintain the ground as part of the lease so outgoings could be minimal), then spend say £1m getting the covenant removed, they are still only £1m down and have a piece of prime central Swindon real estate to do with what they choose, and I don't believe for one second that the Council would have the ability or appetite to enforce any buy back clause.

I will emphasise again that I think as it stands its a great idea (although I would echo the post above about being unsure how it benefits the long term sustainability of the club - unless it is phase 1 of a wider plan to ultimately buy the club and unite club and ground), however my cynic alarm keeps going off with the same question - how would people react if Power and 'investors' were looking to complete the same process.

[horlock07]

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.

I have probably missed it, but can you point me to the credible source that suggests that Power is planning to sell Vigorous and walk away? If that were the case would he not be playing players like Evans who have ability and thus a likely value to get rid of them also in the summer - of even just for compensation fee?

[Batch]

my thoughts:
  - roof on stratton bank = stupid waste of money
 - this = good

[Tails]

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.

Jesus how much do you think Vigs is worth?!

[Pericles]

I have probably missed it, but can you point me to the credible source that suggests that Power is planning to sell Vigorous and walk away? If that were the case would he not be playing players like Evans who have ability and thus a likely value to get rid of them also in the summer - of even just for compensation fee?

I did say presumably so wasn't stating it as fact. I'd be very surprised to see Vigs here next season. You could say he does see the value in players like Evans and Smith which is why he's sent them to Waterford. I believe Smith at least, is out of contract in the summer so Waterford could snap him up on a free. He could sell him from them in the future and make money. I have no idea what is in the guy's head but I do fear for the future of the club. I just don't see the point in owning the ground if Power effs off and leave us in admin, unless its part of an overall plan to buy the club in such an event.

[Peter Venkman]

We go over this every time the covenant is discussed!

Then you have my apologies as I have never read anything on here previously about the covenant and have not contributed to any thread that mentioned it, I shall now shut up.

[horlock07]

Just crossed my mind when replying to another thread, where does this sit with the money we owe Black if the ground is developed, could this be a way of circumventing that if the redevelopment is undertaken by the Trust (but possibly funded by A.N. Other?

[Reg Smeeton]

 This is definitely a knock down price.... it may well be a case that if the Trust don't get it then the sharks will.  SBC are covering their political arse, by offering the Trust first dibs.

If it doesn't work out then they can sell to a Consortium of Terry Brady, Mike Diamandis, Danny Donegan, Jim Little, Rufus Brevitt, Ian Blatchley, Jed, Callum Rice, Tommy Agombar and Uncle Tom Cobleigh and all.

[Pericles]

Jesus how much do you think Vigs is worth?!

Vigs is just one player of many who Power has sold over his time here. I'm not suggesting Vigs is worth 5 million ffs, but a few hundred thousand which still goes towards what Power feels he is owed. We don't know how much he has made from other sales, perhaps he has made enough to recoup his money already or a little more. I'm sure someone here will do the sums and correct me. I am aware money doesn't always get transferred in a lump sum and does come in instalments or with add ons so it can take some time, so he may not have reached the figure he feels acceptable yet. Obviously he would want to make a profit but who's to say once he's made enough he won't just say 'thanks I'm off' and leave us in the shit?

[pauld]

Then you have my apologies as I have never read anything on here previously about the covenant and have not contributed to any thread that mentioned it, I shall now shut up.

Sorry PV didn't mean to come across as snippy with you but this, along with the legend of the bloke on Shrivenham Rd that blocked planning permission for redeveloping the Stratton Bank (he didn't, there was no such bloke, the club got planning permission but didn't use it), really does have to be one of the hoariest old chestnuts about ground redevelopment and it comes up every single time it's discussed.

[pauld]

This is definitely a knock down price

What is? Not seen a price attached to this?

[horlock07]

What is? Not seen a price attached to this?

It says £1.1m in the Advertiser piece?

[pauld]

It says £1.1m in the Advertiser piece?

I need to learn to read things better

[horlock07]

This is definitely a knock down price.... it may well be a case that if the Trust don't get it then the sharks will.  SBC are covering their political arse, by offering the Trust first dibs.

Dpon't they have to offer it to the Trust first, the whole ACV first dibs to the community malarky?

[horlock07]

I need to learn to read things better

You need to read my posts better as well, bitch  as I mentioned the price above and the yield they could turn on it, Christ an 18% yield just to rent to the club is easy money for the Trust and their backers, if the Trust opened it out to members to invest and avoided any large investors I would pile in, its 4-5 times what you would get in the Building Society at the moment!