Grendel
Well-Known Member
Same council with a projected budget defecit of £44 million - that council?
'Series of hotels' to be built at Ricoh Arena (11 Viewers)
- Thread starter Mo Konjic
- Start date
Same council with a projected budget defecit of £44 million - that council?
The Gentleman
Well-Known Member
See! Even the Council has a bigger squad than we do.
Skyblueweeman
Well-Known Member
One things for sure...once this sorry, sorry mess ever ends, us Sky Blue fans will be the most clued up on land ownership, hedge funds, club owneship webs, accountancy, account submissions, due dilligence, City Council workings etc etc.
I feel a new business venture coming on.....
I feel a new business venture coming on.....
Skyblueweeman
Well-Known Member
italiahorse
Well-Known Member
Assuming we survive the stress, suicidal tendencies, marriage break ups and the enforced Saturday afternoon shopping assists.
lordsummerisle
Well-Known Member
Free in the lounge Brian, chargeable in the bedrooms, £15 for 24 hrs
Hate it when hotels do that, then they get all arsey when you have a wank to You Porn in the bar area.
Can't win!
fernandopartridge
Well-Known Member
I know, it's political correctness gone mad!
dongonzalos
Well-Known Member
Skyblueweeman
Well-Known Member
I might suggest to the big-wigs in my chain about 'private-booths' in the lounges.
Doing my bit for the community and all that....
lordsummerisle
Well-Known Member
Extra supllies of tissue paper might need to be oredered in before the start of that though.
That is how I understood it. The Council didn't take the money from current budgets or even its reserves, but was able to borrow the money at a lower interest rate than what ACL were having to pay, and they were able to pass those savings onto ACL. Provided ACL continue to make those repayments then the Council and local ratepayers won't lose out, and indeed should make a small profit. However if ACL did default on the repayments then the Council would be liable. Presumably ACL have been making these repayments for over a year now, and their next accounts should at least give an indication of their future outlook.
Captain Dart
Well-Known Member
Isn't this the way all Countries and even Councils operate IE; They all run deficits
Isn't the Idea not just to Improve the prospects of the Ricoh to generate more business and jobs for itself. and. citizens but also to increase the rates take in the city
meaning less relfiance on central grant.
fernandopartridge
Well-Known Member
Cheers - somebody understands that the council are on the hook for the money if ACL don't repay!
lordsummerisle
Well-Known Member
Some seem to think that it came from magic beans or something..
Skyblueweeman
Well-Known Member
Ohhh....additional overheads on top of 'booth-build' costs. I think you might have to remain 'public' Lord with your self-love sessions. I can get sign off on the booths...the tissue supply you would need would push budgets over my limit I'm afraid.
Sorry chief. Happy play-time though!
lordsummerisle
Well-Known Member
My keep fit regime working a treat now, been using the Jane Fonda video.
Got a right arm like Arnold Scwarzenegger.
Better than using an Arnold Schwarzenegger video* and having an arm like Jane Fonda!!! LOL!
(*I've never knowingly masterbated to an Arnold Schwarzenegger video.)
lordsummerisle
Well-Known Member
Astute
Well-Known Member
The thing is we keep seeing these sort of comments made without the slightest bit of evidence that payments can't be afforded. We also know that we are in Northampton for one reason only.....to try and send ACL to the wall. Shall we wait until the accounts are shown before we keep saying that the taxpayer will lose out?
And then wait for certain posters to make comments about that years accounts not being realistic because of certain events
ACL's accounts have shown the arena to be a going concern each year so far. And each year they make more money as they build up the business. And this will be good for our club once we have an owner that don't want to rip off the taxpayer, CCC, a charity or anyone else that stands in the way of so called investors making a fortune.
torchomatic
Well-Known Member
And we see countless threads and posts along the lines of "they've pocketed the Clarke money", "we will be relegated", etc etc. Again without any evidence.
Grendel
Well-Known Member
The thing is we keep seeing these sort of comments made without the slightest bit of evidence that payments can't be afforded. We also know that we are in Northampton for one reason only.....to try and send ACL to the wall. Shall we wait until the accounts are shown before we keep saying that the taxpayer will lose out?
And then wait for certain posters to make comments about that years accounts not being realistic because of certain events
I suppose seine who leased some land to a retail franchise like Jessops said the same thing a few years ago.
£44 million could soon be £56 million deficit overnight. Still its only public services and the vunerable who'd suffer it if goes belly up so who cares?
Mary_Mungo_Midge
Well-Known Member
Be great if you could close the loop and add that ACL are less liable to repay if the football club don't pay ACL. Just in the interests of balance, you know....
lordsummerisle
Well-Known Member
Are you suggesting that ACL can't survive without the football club?
Heretic!
shmmeee
Well-Known Member
Do you know how council budgets work?
torchomatic
Well-Known Member
shmmeee
Well-Known Member
Honest question on timings: had City said they're building a new ground when this deal was done? Just wondering if the plan for restructuring ACL took no CCFC into account.
Mary_Mungo_Midge
Well-Known Member
Nope. Read the words 'less liable' and see how that sits with 'can't survive'; then realise they're quite different
Grendel
Well-Known Member
So are you saying if ACL failed to pay the loan there is zero impact on the council budget?
shmmeee
Well-Known Member
Hello mr strawman, how you doing?
I can suggest some great adult literacy classes if you're having trouble with your reading.
I'm saying that just because the council loses money in one place doesn't mean it has to cut elsewhere. Bad debt will be a risk factored in I'm sure, just like the many other variables.
It's not all one pot.
lordsummerisle
Well-Known Member
They weren't paying rent at the time, nor looking likely to either at the time of the deal.
Would expect that the loan was taken out on the basis of not having CCFC as a permanent tenant, or would at least hope so.
lordsummerisle
Well-Known Member
Would be a bit daft taking out the loan if relying on a club that wasn't paying any rent or looking like it intended to do so to make it "less liable" to repay it then?
Certainly a risk for the organisation making the loan.
I think that it would have been factored in though.
Grendel
Well-Known Member
Oh no I can read and I can see some spinning by the biggest council troll on this forum (quite an achievement actually)
So the council's who got burnt with the Iceland Bank investment a few years were fine. Not one other budget in any of these councils was affected as a consequence? You are 100% certain not one service would be at all impacted if the loan was not paid?