Because they didn't pay their rent, the owner was as dodgy as fuck, and the landlord is owed a fortune.
The land is far more valuable if the landlord can sell it for development. But that will require a change in the covenant which covers the land, but with the Borough out the way, that covenant may well be changed.
Rumour has it the club is in debt to the tune of £750k, and has zero assets. So it's highly unlikely that there's anyone out there willing to take on that amount of debt whilst continuing to fund mounting losses.
Because they didn't pay their rent, the owner was as dodgy as fuck, and the landlord is owed a fortune.
The land is far more valuable if the landlord can sell it for development. But that will require a change in the covenant which covers the land, but with the Borough out the way, that covenant may well be changed.
Rumour has it the club is in debt to the tune of £750k, and has zero assets. So it's highly unlikely that there's anyone out there willing to take on that amount of debt whilst continuing to fund mounting losses.
Do you know for a fact that the landlord is “owed a fortune”? Only the rental figure I’ve been told is fairy measly in the grand scheme of things. We may just have different interpretations of fortune.
Do you know for a fact that the landlord is “owed a fortune”? Only the rental figure I’ve been told is fairy measly in the grand scheme of things. We may just have different interpretations of fortune.
I know for a fact that the landlord was owed significant rent. I was told a fortune, but what that means in reality is anyones guess.
I also know that following eviction an offer was made to make a payment to cover the outstanding rent, and to pay up to the end of the season. This offer was rejected by the landlord.
Apparently the anual rent was very low considering the potential value of the land, (due to covenants restricting its use) so I'm guessing that may have an significant reason behind the landlords decision.
If he can get said covenant lifted he laughing.