Re: Pont & Cas exclusive : Thu Mar 24, 2011 10:59 am  

I might be stating the obvious but if Ben Bailey homes valued it at around £4.5m or whatever figure was touted on here, how does it now become "worth" £50m?
However it works, Cas have obviously done some great business here, and RW has done the right thing holding out to get an amount that allows us to build in one fell swoop. I'm sure fans will not have any objection to this delay realistically as it is clearly the best option.
Let's hope this boost keeps up the feel good factor at the club!

Re: Pont & Cas exclusive : Thu Mar 24, 2011 11:03 am  

The Doctor wrote:

I might be stating the obvious but if Ben Bailey homes valued it at around £4.5m or whatever figure was touted on here, how does it now become "worth" £50m?

Revenues from a supermarket > revenues from selling housing?
Cost of building a supermarkey < cost of building housing site?
Ben Bailey given cheaper price for hopefully a quicker completion?
Multiple supermarkets interested driving up the price?

I have no idea!

Re: Pont & Cas exclusive : Thu Mar 24, 2011 11:06 am  

Gaslight wrote:

£50m

That would not only pay for the stadium but a squad using the full salary cap for many years to come when added to an already profitable business, fantastic news - especially the comment about all the funding now being in place to build the whole stadium at the same time.

Without wanting to count chickens before they're even conceived, let alone hatched.

1. Build new stadium.
2. Build new training/medical/staff complex
3. Guarantee spending of full salary cap for next franchise period following build.
4. Subsidise season tickets to ensure full house every round of season 1 at new stadium.
5. Repay all loans to JF to make the club more attractive to new investors in future.

Re: Pont & Cas exclusive : Thu Mar 24, 2011 11:07 am  

StuMain wrote:

Revenues from a supermarket > revenues from selling housing?
Cost of building a supermarkey < cost of building housing site?
Ben Bailey given cheaper price for hopefully a quicker completion?
Multiple supermarkets interested driving up the price?

I have no idea!

That is my conclusion, it must be either one of- or a combination of all those things, it just seems to me that the value increasing ten-fold is rather extreme! (Not that I'm complaining about it!)

Re: Pont & Cas exclusive : Thu Mar 24, 2011 11:09 am  

The question now is, what do we do with that extra money?

Personally I'd be disappointed if we didn't build some leading training facilities to continue helping to develop the local talent we have.

On a more hopeful note, I'd love to see the money subsidise a cheap season ticket deal (like Bradford's) for the first season in the new ground. It would be great to get the ground full every week and attract some new people to the sport. With the location at Glasshoughton, it seems like a perfect opportunity to try and sell every ticket in the place for every game of the season.

Re: Pont & Cas exclusive : Thu Mar 24, 2011 11:17 am  

Just noticed the open letter now on the same link, sure it wasn't there earlier: http://www.castigers.com/article.php?id=1353 we expect to take another significant step forward on the 7th April, when Wakefield Council announces the results of our detailed planning application. our current home meets almost all of the ‘playing facilities' requirements. The RFL will assess the PROBIZ Coliseum alongside our business plan for Glasshoughton, which clearly demonstrates our commitment to move to a new facility within the next licensing period. I am confident that these elements, combined with our strengths across the host of other criteria, will be sufficient for Castleford Tigers to qualify for the next Super League licence. Last year alone a staggering 13,000 children participated in our community programme.

Just noticed the open letter now on the same link, sure it wasn't there earlier: http://www.castigers.com/article.php?id=1353 we expect to take another significant step forward on the 7th April, when Wakefield Council announces the results of our detailed planning application. our current home meets almost all of the ‘playing facilities' requirements. The RFL will assess the PROBIZ Coliseum alongside our business plan for Glasshoughton, which clearly demonstrates our commitment to move to a new facility within the next licensing period. I am confident that these elements, combined with our strengths across the host of other criteria, will be sufficient for Castleford Tigers to qualify for the next Super League licence. Last year alone a staggering 13,000 children participated in our community programme.

Re: Pont & Cas exclusive : Thu Mar 24, 2011 11:17 am  

I don't want to put a dampner on things guys but I very much doubt this deal will be worth £50m to the club.

Opus Land (North) Ltd and its financial partner Palmer Capital is working with Castleford Tigers to obtain approval for the scheme in a deal expected to be worth in the region of £50 million.

Reading the above quote from the article, I'd assume the overall development would be valued at £50m and only a portion of this would be paid to the club for purchase of the land.

Re: Pont & Cas exclusive : Thu Mar 24, 2011 11:20 am  

Guys, bless... you are not getting £50m!

The 'deal' is worth £50 means that this the deal Opus are putting together for the site. To put it simply, the potential development 'cost/investment' for the whole site is anticipated to be around £50m! Cas will get the best possible commercial sale value of the land they can as part of this deal. So maybe £6m + but I also understand there are some outstanding charges on the land that will reduce this figure. RW is appears fairly certain that this value will cover the funding shortfall to complete the stadium in one go when the deal gets through!

Don't get carried away guys!

Re: Pont & Cas exclusive : Thu Mar 24, 2011 11:22 am  

Inflatable_Armadillo wrote:

Guys, bless... you are not getting £50m!

The 'deal' is worth £50 means that this the deal Opus are putting together for the site.
Don't get carried away guys!

IA please already you have devalued our project to £50 i hate you

I agree i always read it that the development was £50 million not the land lol

Re: Pont & Cas exclusive : Thu Mar 24, 2011 11:24 am  

Bonzo wrote:

And when you think about it, it's not actually a bad site for a supermaket. It's a similar size to the current ASDA site in Glasshoughton, including the parking area. Access to and from Wheldon Road is good - as it was the main access for the chemical plant, it's a big, wide road. Future planned developments are also likely to generate the need for a supermarket at that side of town too. I can't think of many reasons why more than one supermarket wouldn't be interested to be honest.

Agreed, I think the site is a good option for a Supermarket and also, as you say, future housing plans for the area means that they would be investing in a site that was going to grow it's local customer base over time.