Spending our Windfall

[iscalad]

The Club doesn't buy the Ground back, the Trust does, that prevents the club becoming a target. The Council would be more likely to sell it to the Trust too !

How do you expect the Trust to find that money?

 

[Colesman Ballz]

A starting point would be the effective transfer of windfall money from the Club, by means of calling in the loan.

 

[iscalad]

A starting point would be the effective transfer of windfall money from the Club, by means of calling in the loan.

But would the council sell to the Trust for £800k?

 

[rightwing]

There are now 3 years left on the lease of St. James Park. The Club should make it an absolute priority to secure a very long term renewal of that lease. Once that is done (and before we get into a profligate spending spree on things that really do not matter) the Club should buy the St. James Centre. This would then put the ownership of all the land from Red Square (including part of Stadium Way) to the backs of the houses in Old Tiverton Road, in Club ownership. The value of this block of land can then be fully utilised in an enabling scheme which could see a very major upgrade to all stands and facilities in the stadium.

 

[Alistair20000]

The Club doesn't buy the Ground back, the Trust does, that prevents the club becoming a target. The Council would be more likely to sell it to the Trust too !

Nail on head.

 

[edwin_price]

Nail on head.

Where's the money?

 

[Alistair20000]

Where's the money?

Depends on the price.

My point was primarily that the Trust would buy to avoid the predator risk and as CB says the Trust would be more likely to persuade the Council to sell.

 

[Colesman Ballz]

But would the council sell to the Trust for £800k?

No of course not, they are not Plymouth . I am sure that they would want a profit, and some sort of clawback, on any future sale at a profit, should we ever want to relocate and sell the land for redevelopment. I have no idea of related figures, guess that those involved at the time of the Drivers Jonas report and discussions that followed with the Council may have a vague historic idea, but that was centred on the extent of compensation that would pay us to surrender our lease, to go towards a new stadium or sharing with the Chiefs, although, iirc in both options it fell well short.

I can't give a costed plan, I merely suggesting a way of acquiring SJP that avoids the Club becoming a target for unscrupulous predators.

 

[Alistair20000]

Here is a start on financing the purchase.

Club repays £800k Trust loan.

Club pays £50k p.a. rent to Trust. Services interest @ 5% on a loan of £1 million.

Cease the Trust donation to the Club of £100k p.a. Services a loan of £2 million.

£3.8 million purchase subject to repaying capital.

Depending on the amount received from the Ollie/Ampadu deals the Club could loan money to the Trust to be repaid by rent payments.

It won’t happen because the Trust Board would be scared stiff to go for it.

 

[IndoMike]

They'd be scared stiff because I assume they don't have the time and maybe the experience or competency to deal with this kind of deal ( I repeat "maybe" : it's an assumption, not fact).