Pages: 1 ... 29 30 31 [32] 33 34 35 ... 109   Go Down
Print
Author Topic: Trust look to buy the CG  (Read 382142 times)
Power to people

Offline Offline

Posts: 6385





Ignore
« Reply #465 on: Wednesday, March 21, 2018, 13:06:19 »

It's the Trust's AGM tonight.  Anyone else going along?

Yep, I will be coming along I expect
Logged
Berniman
Sits in front of JFW

Offline Offline

Posts: 10612


Miserable cnut (AKA Happy Clapper)




Ignore
« Reply #466 on: Wednesday, March 21, 2018, 13:09:43 »

Unless there is any serious update on this tonight with regards to purchasing the ground, I will be cancelling my monthly donation, lack of progress and information is boring me..
Logged

“Everything we hear is an opinion, not a fact. Everything we see is a perspective, not the truth.” ― Marcus Aurelius

When somebody shouts STOP! I never know if it's in the name of love, if it's HAMMER TIME, or if I should collaborate and listen...
Batch
Not a Batch

Offline Offline

Posts: 55166





Ignore
« Reply #467 on: Wednesday, March 21, 2018, 13:22:31 »

ditto
Logged
theakston2k

Online Online

Posts: 5303




Ignore
« Reply #468 on: Thursday, March 22, 2018, 00:06:40 »

Just read the notes from the meeting, still hugely unconvinced by the Trust bid. On one hand they say they have £1 million matched funding (again can’t tell us who from due to non disclosure agreements) then they say they’ll need to spend £1 million to bring the ground up to standard as well. Then on the other hand they went on to say they are in talks with a developer about a new £15 million Townend

All just feels like pie in the sky to me, honestly don’t see supporters raising the million or so to help buy the ground yet alone the further amounts to bring it up to standard and contribute to any redevelopment.

Also they mentioned they would operate like the council/normal landlord if the club didn’t pay the rent, as if they would apply for a winding up order, would be pretty self defeating.
Logged
Sippo
Living in the 80s

Offline Offline

Posts: 15582


I ain't gettin on no plane fool




Ignore
« Reply #469 on: Thursday, March 22, 2018, 06:51:57 »

The £1 million is from James Phipps.
Logged

If my calculations are correct, when this baby hits 88 miles per hour, you're gonna see some serious shit...
FreddySTFC!

Offline Offline

Posts: 1566





Ignore
« Reply #470 on: Thursday, March 22, 2018, 08:33:23 »

Just read the notes from the meeting, still hugely unconvinced by the Trust bid. On one hand they say they have £1 million matched funding (again can’t tell us who from due to non disclosure agreements) then they say they’ll need to spend £1 million to bring the ground up to standard as well. Then on the other hand they went on to say they are in talks with a developer about a new £15 million Townend

All just feels like pie in the sky to me, honestly don’t see supporters raising the million or so to help buy the ground yet alone the further amounts to bring it up to standard and contribute to any redevelopment.

Also they mentioned they would operate like the council/normal landlord if the club didn’t pay the rent, as if they would apply for a winding up order, would be pretty self defeating.
Where can I read the notes/minutes? Couldn't see anything on their website.
Logged

I have a culture, I don't stop my culture!!
horlock07

Offline Offline

Posts: 18726


Lives in Northern Bastard Outpost




Ignore
« Reply #471 on: Thursday, March 22, 2018, 08:58:11 »

Just read the notes from the meeting, still hugely unconvinced by the Trust bid. On one hand they say they have £1 million matched funding (again can’t tell us who from due to non disclosure agreements) then they say they’ll need to spend £1 million to bring the ground up to standard as well. Then on the other hand they went on to say they are in talks with a developer about a new £15 million Townend

From the figures banded about in the media it suggests that it will take c.£2.2m to buy the ground, plus another £1m immediately on works. So even with the match funding that suggests that the Trust is going to need to raise about £2.2m from somewhere to proceed setting aside the promised match? Add fees onto that as it has been suggested that they have spent £30k on due diligence already which seems a hell of a lot?

I assume that the £15m on the Townend is a hell of a lot more than just a new stand?
Logged
Batch
Not a Batch

Offline Offline

Posts: 55166





Ignore
« Reply #472 on: Thursday, March 22, 2018, 09:06:12 »

Where can I read the notes/minutes? Couldn't see anything on their website.

I know its far from the same thing, but did you follow Ben Wills on twitter - he at least have an outline of the meeting which may be useful before the minutes are available.
Logged
Batch
Not a Batch

Offline Offline

Posts: 55166





Ignore
« Reply #473 on: Thursday, March 22, 2018, 09:08:55 »

From the figures banded about in the media it suggests that it will take c.£2.2m to buy the ground, plus another £1m immediately on works. So even with the match funding that suggests that the Trust is going to need to raise about £2.2m from somewhere to proceed setting aside the promised match? Add fees onto that as it has been suggested that they have spent £30k on due diligence already which seems a hell of a lot?

I assume that the £15m on the Townend is a hell of a lot more than just a new stand?

You are assuming that the extra £1M is needed immediately. What's the current ground rent? Could be re-invested into the repairs. Just my thoughts.

RE:15M. I did note that they had talked to the Goddard re: the covenant. Could of course be unrelated to the proposed development, i.e. a - what if Power buys the Ground...

That's the problem with not being at the AGM - context can be lost!
Logged
FreddySTFC!

Offline Offline

Posts: 1566





Ignore
« Reply #474 on: Thursday, March 22, 2018, 09:19:12 »

I know its far from the same thing, but did you follow Ben Wills on twitter - he at least have an outline of the meeting which may be useful before the minutes are available.
Cheers Batch. I'll have a look at his account.
Logged

I have a culture, I don't stop my culture!!
horlock07

Offline Offline

Posts: 18726


Lives in Northern Bastard Outpost




Ignore
« Reply #475 on: Thursday, March 22, 2018, 09:20:16 »

You are assuming that the extra £1M is needed immediately. What's the current ground rent? Could be re-invested into the repairs. Just my thoughts.


Isn't it about £250k a year, but under that who is actually responsible for repairs is it the club or the landlord? If its the landlord then I would be suggesting that the freeholder brings it up to standards before I purchase or the price is dropped accordingly or if its the club the lease be renegotiated possibly at a lower rent/rent free for say 4 years and the club bring it up to standard?

Otherwise its going to take 4 years of rent just to cover the works, which is rather risky in case any unforeseens arise.

One thing that is strangely reassuring is that if the match funding is £1m and the total cost in excess of £2m it at least means that the funder is not going to have provided 50% of the funding which should limit their ability to dictate to the Trust going forward?  
« Last Edit: Thursday, March 22, 2018, 09:23:40 by horlock07 » Logged
Tails

Offline Offline

Posts: 10011


Git facked




Ignore
« Reply #476 on: Thursday, March 22, 2018, 09:49:56 »

The £1 million is from James Phipps.

You reckon? seems the most obvious
Logged
Don Rogers Sock

« Reply #477 on: Thursday, March 22, 2018, 10:13:28 »

Makes a mockery of the whole thing if it is him.
Logged
Sippo
Living in the 80s

Offline Offline

Posts: 15582


I ain't gettin on no plane fool




Ignore
« Reply #478 on: Thursday, March 22, 2018, 10:14:14 »

It is him.
Logged

If my calculations are correct, when this baby hits 88 miles per hour, you're gonna see some serious shit...
horlock07

Offline Offline

Posts: 18726


Lives in Northern Bastard Outpost




Ignore
« Reply #479 on: Thursday, March 22, 2018, 10:21:53 »

Makes a mockery of the whole thing if it is him.

Why (not stirring to be honest one stakeholder having so much in the process concerns me - just as a long distance supporter I don't know the local politics)
Logged
Pages: 1 ... 29 30 31 [32] 33 34 35 ... 109   Go Up
Print
Jump to: