Roman
Frequenter
Posts: 169
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Post by Roman on Oct 29, 2013 22:03:26 GMT
Thanks
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Post by PSP on Oct 29, 2013 22:04:13 GMT
Who exactly Is Rob Horton?
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Roman
Frequenter
Posts: 169
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Post by Roman on Oct 29, 2013 22:05:34 GMT
I agree cryptic crap!! Like Jack says maybe it's election time!
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Deleted
Deleted Member
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Post by Deleted on Oct 29, 2013 22:28:06 GMT
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Post by vicar on Oct 29, 2013 22:36:22 GMT
HFG doesn't post just when there are elections, she's a County fan and used to be a regular poster, bit harsh there RB. As for whether buying EP would go down well with the council tax payers is neither here nor there, if the figures add up it could be a good deal for the council. The council are considering a proposal to pay for a Travelodge to be built at the station and for Travelodge to then rent it from them on a 25 year lease, we could do a similar deal.
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Post by PSP on Oct 29, 2013 22:43:51 GMT
What sort of figures would the rent need to be for us to be able to move forward. Posh have just signed a similar 25 year deal with the council for their ground which is 300k a year rising to 430k a year when the work on the stadium is done.
How much do we pay at the moment?
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Deleted
Deleted Member
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Post by Deleted on Oct 29, 2013 22:45:29 GMT
No, they aren't. The council are planning to build a hotel at the station. They will get someone to operate it and will eventually sell the business on. Separately, Travelodge have contacted all councils inviting them to borrow money cheaply to build a hotel and they might operate it for them. Stockport Express had an article that made it look like Travelodge had contacted Stockport specially and linked it to the station hotel.
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TC
Contributor
Posts: 794
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Post by TC on Oct 29, 2013 22:49:35 GMT
Travelodge would be paying the full rental value were they to lease it back. Unfortunately County aren't in a position to pay the FRV for EP and so the terms of a subsidised leaseback might not go down well with some taxpayers.
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TC
Contributor
Posts: 794
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Post by TC on Oct 29, 2013 22:51:28 GMT
What sort of figures would the rent need to be for us to be able to move forward. Posh have just signed a similar 25 year deal with the council for their ground which is 300k a year rising to 430k a year when the work on the stadium is done. How much do we pay at the moment? IIRC the rent is around 80k pa.
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Post by PSP on Oct 29, 2013 22:53:26 GMT
So we're going to need it rent free then or we'll still be stuck in the same situation no matter who owns it.
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TC
Contributor
Posts: 794
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Post by TC on Oct 29, 2013 22:54:09 GMT
Pretty much.
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Deleted
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Post by Deleted on Oct 29, 2013 22:55:10 GMT
Travelodge would be paying the full rental value were they to lease it back. Unfortunately County aren't in a position to pay the FRV for EP and so the terms of a subsidised leaseback might not go down well with some taxpayers. That is only half the problem. County would need to show that, for the life of a loan, they could operate within their income. Can any club guarantee that? Not to mention every other similar deal has seen the purchase of the ground put cash in hands of club, not someone else (BK/CS), which improves the position of the club (lower debt or funds to cut other costs/improve). Then there is the money needed to bring ground/pitch up to scratch. Bottomless pit.
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TC
Contributor
Posts: 794
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Post by TC on Oct 29, 2013 23:04:07 GMT
Think we are at cross purposes here. I thought the idea was that SMBC would buy EP and then rent it back to County. No loan involved.
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Deleted
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Post by Deleted on Oct 29, 2013 23:15:08 GMT
Think we are at cross purposes here. I thought the idea was that SMBC would buy EP and then rent it back to County. No loan involved. Because SMBC have cash sloshing around doing nothing? The council would have to borrow money to buy the ground. To make that legal they'd have to show it was prudent. To show it is prudent, they'd have to show they have a guaranteed income stream to pay for it. Which would need, eg, a lease with County over the length of the loan that covered the loan repayments and County show they can operate within their income through that time. And all of that would also need BK/CS willing to sell at a sensible price and some arrangement over the existing shares and the shareholders debts... I am more likely to fly unaided to the moon.
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TC
Contributor
Posts: 794
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Post by TC on Oct 29, 2013 23:40:07 GMT
But couldn't they get the money from a mortgage on some other property that they own? Or selling some vacant land for development?
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