Swansea seals new lease deal on the Liberty Stadium (1 Viewer)

[italiahorse]

Perhaps if we'd had a bit more support from the council to stay at Highfield Road we wouldn't be in this shitstorm.

The idea to move to the Ricoh was a good idea.
Unfortunately we couldn't really finance it, particularly after we committed to it and then got relegated.
Looking back we should have stayed at HR.
Not sure where CCC let us down at HR though, surely it was our managements fault at the time ?

 

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[stupot07]

I'm quoting info available and showing it. (Above)
If its easy to work out, whats the details ?
You hear a figure on here and run with it forever.

The £24m david gidney offer for just our f&bs was raised in the JR. Not just a figure he heard on here. And it was on the SBT q&a (q20)
Sky Blue Trust - CCFC and ACL Answer Trust's Questions


It doesn't matter how you cut it, the club were shat on with the rental deal and have not been treated as well as swansea. Wasps for a 250 year lease deal for £1m, less than 1 years rent we used to pay for the match day only access to the bowl, a couple of offices and a shop and compare that to Swansea's £300k per annum...


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[italiahorse]

Nah, they were before Sisu challenged them!

The rates still have to be paid.
The refund to CCFC was due on the stadium bowl where it was judged that CCFC proportion was match days only.
ACL still need to pay for the balance.

Obviously that is correct now but at the time I'm not sure whether CCFC had sole use.

 

[oldskyblue58]

The 21m loan in ACL was used to buy the lease premium rather than ACL pay an annual rent of 1.9m

ACL spent 6m on the equipment fixtures and fittings

CCC used the 21m to repay the Prudential borrowing taken out to help fund the site build.

Basically ACL part funded the site build in simple terms

 

[wingy]

Nah, they were before Sisu challenged them!

They were refunded a certain amount but still significant should ACL post a certain level of profit CCC get something called LAGBI off Central Govt, around £1M IIRC.

 

[italiahorse]

The £24m david gidney offer for just our f&bs was raised in the JR. Not just a figure he heard on here. And it was on the SBT q&a (q20)
Sky Blue Trust - CCFC and ACL Answer Trust's Questions

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It's not in the official Judgement though and although probably mentioned can be construed as a corridor comment to TF.
Tf answered with that figure when questioned by the Trust.

 

[SkyBlueZack]

The majority of the money here comes from the land purchase.

CCFC could not afford to purchase it (£20M) and let the option to buy lapse.
The dutch contamination company (HBG) who were owed money by CCFC found out the option had not been taken when they tried to get their money.
They agreed a contract with Brit Gas to buy it and then said to the council you need to buy it or we will build retail and the stadium is gone.
CCC paid £20M and sold half of it to Tescos for £60M that weekend. (How the hell we messed this up is the big question)

That's not answered anything.

 

[SkyBlueZack]

The 21m loan in ACL was used to buy the lease premium rather than ACL pay an annual rent of 1.9m

ACL spent 6m on the equipment fixtures and fittings

CCC used the 21m to repay the Prudential borrowing taken out to help fund the site build.

Basically ACL part funded the site build in simple terms

How much did the council put in?

 

[SkyBlueZack]

It's not in the official Judgement though and although probably mentioned can be construed as a corridor comment to TF.
Tf answered with that figure when questioned by the Trust.

Weren't it headline news in the telegraph? I think it was a bit more than a corridor conversation.

 

[tisza]

The figures are above.
I believe the £21M loan was the shortfall at the end so can be effectively attributed to kitting out the whole complex.

you can look at it several ways. some of the extra costs you refer to apply to the whole site and some to the ACL management company.
Key issue remains what did it ultimately cost the council to build the stadium and how did they finance the balance.
The whole project cost around 118m - Tesco provided 59m. Leaving a stadium cost of 59/60m. Grants/Capri deals etc. + CCC equity investment left a shortfall of 21m which was eventually passed onto ACL who then in effect passed it onto to the club with the high rental fees.
ACL took out a 20 year 21 million loan at 1.265% over libor. CCFC paying rent 1.2m per year was basically paying their loan. The balance of this loan still moves through the system in one form or another - with it now having been paid by the Wasps bond.

 

[tisza]

The 21m loan in ACL was used to buy the lease premium rather than ACL pay an annual rent of 1.9m

ACL spent 6m on the equipment fixtures and fittings

CCC used the 21m to repay the Prudential borrowing taken out to help fund the site build.

Basically ACL part funded the site build in simple terms[/QUOTE

suppose we should be grateful they paid the premium or else they would have been charging the club 1.9m per year

 

[italiahorse]

That's not answered anything.

I'll try
As you said on paper the council seem to have put only £10M in.
But the point I'm making is that they made money on the land (£40M) which they also put in.