stupot07
Well-Known Member
It must have some impact upon them though otherwise there would be no point charging the club rent, surely?
As far as I know - and your better off asking OSB as he's the guru on this, the profits were re-invested into improvements this reduced net profit which meant ACL paid tax.
The big benefit to the council is the 'asset' on the balance sheet, not revenue made. In the long term they may start to take a dividend but at the moment a reduction in rent would not take tax payers money or hinder public services.
Again as far as I understand, ACL, of which CCC is one share holder took out a £20m loan to pay back the council as the rent for 50 years. This money paid off the loan CCC took to help build the Ricoh.
As such the Council do not put any of it's own money in to the Ricoh for day to day running.
OSB please help....