Re: D-DAY Monday! : Sun Jul 30, 2017 6:57 pm  

dboy wrote:

You mean the premier indoor stadium in the U.K?

If that's a white elephant, we'll have some of that.

It is now, ask the previous administration if they feel they got value f on it.

Also, the old adage "Lication, location, location " would very much come into play here. There is a gulf in saleability between a piece of prime real estate in Lindon's prestige Docklands and an old pit on the outskirts of Stanley.

Re: D-DAY Monday! : Sun Jul 30, 2017 6:59 pm  

It's biggest draw will be its proximity to the motorway network, but it will need a hotel, pub etc to make it a destination.

Re: D-DAY Monday! : Sun Jul 30, 2017 7:03 pm  

dboy wrote:

It's biggest draw will be its proximity to the motorway network, but it will need a hotel, pub etc to make it a destination.

Oh well, I didn't realise that.

The council should just borrow twice as much and build them too, cut out the middle man.

Go big or go home eh?

Re: D-DAY Monday! : Sun Jul 30, 2017 7:17 pm  

WakiLeaks wrote:

I agree entirely.

MC has said that he will more than pay back any interest and, it will cost WMDC nothing.

That is a very noble gesture however, unless he is also willing to stand as guarantor to the loan, presumably moot.

If York Court liquidate or walk away, the council would be left with a loan they couldn't pay.

Presumably without a benefactor, neither could the club.

You magnificently miss a crucial point.

If the council borrow 10 million, and I guarantee to more then cover what it costs them in interest, why does it even matter if the loan is ever repaid. It just means year on year, they are actually making a profit on the loan, that can be ploughed into other services!

Re: D-DAY Monday! : Sun Jul 30, 2017 7:20 pm  

WakiLeaks wrote:

It is now, ask the previous administration if they feel they got value f on it.

Also, the old adage "Lication, location, location " would very much come into play here. There is a gulf in saleability between a piece of prime real estate in Lindon's prestige Docklands and an old pit on the outskirts of Stanley.

Well apart from the fact it's on the Greenwich peninsula in a mainly residential are and not in London dock lands, then yeah you're about spot on
The O2 (formerly millennium dome) has always attracted a great number of visitors from its beginnings (although not as many were forecasted) then there's the fact that it was owned by the New Millennium Experience Company funded by central government and over £700m of national lottery money, but hey don't let facts get in the way. O2 were not the only company interested in it either, but I'm sure they wouldn't have wanted it if it was the flop you suggest, maybe you're just another troll trying to get a bite, well that's the only thing you've got right

Re: D-DAY Monday! : Sun Jul 30, 2017 7:23 pm  

WakiLeaks wrote:

I agree entirely.

MC has said that he will more than pay back any interest and, it will cost WMDC nothing.

That is a very noble gesture however, unless he is also willing to stand as guarantor to the loan, presumably moot.

If York Court liquidate or walk away, the council would be left with a loan they couldn't pay.

Presumably without a benefactor, neither could the club.

I guess MC and CB could come to some sort of legally binding agreement with the council to pay the interest + x thousand each year even if Wakefield were relegated and they had to just pay the council out of their own cash (although the clubs cash is pretty much their's anyway with the amount they've put in). I guess you then get rid of the immediate pressure of the ground needing to be built and you could probably find a new developer given more time and effectively sell them the rights to the land for £10 million. The only problem would be if no new developer came forward but it's pretty prime development land so you suspect someone would. Still don't think the council would ever agree unfortunately because most people in the district wouldn't fully understand what was going on and would just assume the council had paid £12 million for a stadium whilst cutting all sorts of other services.

Re: D-DAY Monday! : Sun Jul 30, 2017 7:28 pm  

steadygetyerboots-on wrote:

MC has already played the hand that if terms aren't favourable for the club he will/would leave the district. Would you enter into a long term financial arrangement with someone who did this; Particularly if you were the only one with your finances at risk?

I genuinely do feel for the fans as it you are in a horrendous situation, one that I can't see ending well. Unless the developed does the honourable thing & either builds the facilities as promised or is willing to step aside to allow a different developer to do so.

It ends well with the council lending the money and the community stadium gets built, everyone's a winner apart from bitter fans of other clubs who are desperate for us not to get the community stadium built.
Up the Trin

Re: D-DAY Monday! : Sun Jul 30, 2017 7:30 pm  

jakeyg95 wrote:

I guess MC and CB could come to some sort of legally binding agreement with the council to pay the interest + x thousand each year even if Wakefield were relegated and they had to just pay the council out of their own cash (although the clubs cash is pretty much their's anyway with the amount they've put in). I guess you then get rid of the immediate pressure of the ground needing to be built and you could probably find a new developer given more time and effectively sell them the rights to the land for £10 million. The only problem would be if no new developer came forward but it's pretty prime development land so you suspect someone would. Still don't think the council would ever agree unfortunately because most people in the district wouldn't fully understand what was going on and would just assume the council had paid £12 million for a stadium whilst cutting all sorts of other services.

Even though the cost of borrowing is just about at a record low, it would be extremely brave to guarantee to pay even the interest on a 10/12 million loan, especially with the possibility of being relegated at some point in the future, plus the running costs etc, which would remain roughly the same if we dropped down a division.

Re: D-DAY Monday! : Sun Jul 30, 2017 7:34 pm  

Daddycool wrote:

You magnificently miss a crucial point.

If the council borrow 10 million, and I guarantee to more then cover what it costs them in interest, why does it even matter if the loan is ever repaid. It just means year on year, they are actually making a profit on the loan, that can be ploughed into other services!

Fair enough.
You know significantly more about it than I do. That may sound sarcastic but it genuinely isn't meant to, you obviously know more about this kind of thing than I do.

If that's viable going forward, that's fair enough. I'm not sure how you'd word that in an agreement with central funding but as you say, leave that to you.

It's amazing how these days if your opinion differs from somebody else's, your immediately called a troll.

Re: D-DAY Monday! : Sun Jul 30, 2017 7:34 pm  

Daddycool wrote:

You magnificently miss a crucial point.

If the council borrow 10 million, and I guarantee to more then cover what it costs them in interest, why does it even matter if the loan is ever repaid. It just means year on year, they are actually making a profit on the loan, that can be ploughed into other services!

Could the club borrow the money or does it need to be the council?