The stadium (1 Viewer)

[skybluesam66]

I have heard 100m as the potential freehold cost


The stadium cost 115.7m to build including acquiring the land

Tesco Paid 59.4m
ACL - have paid a super rent premium of 21m
Casino (isle of Capri) paid 5.9m

Therefore net investment by the council on initial build was 29.4m

I am guessing that since then another 5m may have been spent
Land and property prices however have stabilised
So I struggle to see how people have come up with the suggested 100m for the freehold of the stadium

40m may be more appropriate

 

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[canningt]

sounds about right

 

[rob9872]

We also had an injection of cash from the 2006 World cup bid, there were rumours of some lottery funding but I don't know if that's accurate and the council had money already to spend on the site as it was an eyesore and unsafe. At the time we were told it was part of a regeneration of that are of the City and there was a clean up required of where the gas-works used to be.

Their actual investment probably equates to what they paid for Highfield Road that they have since sold to developers to build houses on.

We can't get it on the cheap because the council serve the whole City and not just CCFC fans, but hopefully if Robinson is part of the bid team (despite everyone hoping he wasn't), that he can pull a few strings to ensure it's acquired for the right and fair price.

 

[ashbyjan]

Cost of stadium etc is entirely irrelevant I am afraid. By law the council have to sell any property for a fair market value and on the Ricoh Arena website they refer to the stadium as a £113m venue so £100m + won't be too far off

 

[oldskyblue58]

could you point me in the direction of the source of those build figures please sbs66 ? would like to see what further details we can get cheers

 

[skybluesam66]

http://cmis.coventry.gov.uk/CMISWebPublic/Binary.ashx?Document=4974

 

[oldskyblue58]

thanks sbs66

 

[chiefdave]

Tesco Paid 59.4m
ACL - have paid a super rent premium of 21m
Casino (isle of Capri) paid 5.9m

so when we talk about buying the freehold are we including the Tesco site? If we are what stake do Tesco have, I'm guessing they haven't paid £59.4m for nothing! Is that a lease on the store itself? If so I assume that's paid by installments so if we were to take ownership that would come to the club?

Whilst the council have to get the best deal they can the club could make the argument they need ownership to survive, I don't think it would be the same as selling to a 3rd party. Sure an argument could be made that so long as the council didn't lose money they would let the club buy it back below market value.

 

[coundonskyblue]

Why is it so important to own the freehold? As long as we own the stadium, that's where the money is to be made. I'm pretty sure wolves don't own the freehold on theirs but still own the stadium.