Re: Wakey stadium plans collapse- again. : Mon Oct 30, 2017 3:42 pm  

Tigerade wrote:

Yes - I get that but I cannot see the council putting their names down as the fall guy who will have to foot the bill when the developer doesn't have the cash to pay up. Too much risk for Wakefield Trinity and equally too much risk for WMDC and it's ratepayers.

The developer is just playing games and being allowed to do so. The low interest loan will be serviced by the club, at no cost the rate payer, until such time that the developer satisfies its obligations. The council need to get on with their job of making sure these obligations are met.

Re: Wakey stadium plans collapse- again. : Tue Oct 31, 2017 1:34 am  

j.c wrote:

Who services the loan should Wakefield trinity go out of business?

There is the risk that the stadium will become a white elephant. Which is why it is so important that the terms of the deal make it possible to run a sustainable business. With the right deal, I can't see any way the club would be at risk of going bust. It's all down to the political will of the LA.

There is a rumour that a local soccer club will be involved, but they're Dora the Explorer Glue League level and wouldn't be able to be anchor tenants.

It could always be sold for scrap/recycled and housing built on the site to recoup the losses.

Wakefield is perhaps a true reflection of the current state of RL, with never having a big money backer, without support from the local authority, and owning an 'iconic' stadium which costs more to run than a modern one and produces less income. Since MC has arrived he has worked financial miracles making the club pay for itself and still be competitive on the field. The tiny number of staff employed would probably shock many other clubs.

Re: Wakey stadium plans collapse- again. : Tue Oct 31, 2017 11:54 am  

coco the fullback wrote:

There is the risk that the stadium will become a white elephant. Which is why it is so important that the terms of the deal make it possible to run a sustainable business. With the right deal, I can't see any way the club would be at risk of going bust. It's all down to the political will of the LA.

There is a rumour that a local soccer club will be involved, but they're Dora the Explorer Glue League level and wouldn't be able to be anchor tenants.

It could always be sold for scrap/recycled and housing built on the site to recoup the losses.

Wakefield is perhaps a true reflection of the current state of RL, with never having a big money backer, without support from the local authority, and owning an 'iconic' stadium which costs more to run than a modern one and produces less income. Since MC has arrived he has worked financial miracles making the club pay for itself and still be competitive on the field. The tiny number of staff employed would probably shock many other clubs.

Except that WMDC would be very lucky to recoup their loses - the land would be worth some £2m at best for housing and the 2nd hand value of the 'stadium' buildings would be a fraction of their new cost, even assuming there is a willing buyer.....

Re: Wakey stadium plans collapse- again. : Tue Oct 31, 2017 1:21 pm  

Mr Dog wrote:

Except that WMDC would be very lucky to recoup their loses - the land would be worth some £2m at best for housing and the 2nd hand value of the 'stadium' buildings would be a fraction of their new cost, even assuming there is a willing buyer.....

St Helens value their land at £14m that the stadium is built on

Regards

King James

Re: Wakey stadium plans collapse- again. : Tue Oct 31, 2017 4:09 pm  

Lebron James wrote:

St Helens value their land at £14m that the stadium is built on

Regards

King James

They will be using that value for their accounts giving the 'stadium' it's original cost less depreciation, unless it covers about 14 acres. I very much doubt that if St Helens went belly up an administrator would be able to sell it for anywhere near that price even if another sporting club, who needed such a stadium, came along.

Re: Wakey stadium plans collapse- again. : Tue Oct 31, 2017 5:34 pm  

Mr Dog wrote:

Except that WMDC would be very lucky to recoup their loses - the land would be worth some £2m at best for housing and the 2nd hand value of the 'stadium' buildings would be a fraction of their new cost, even assuming there is a willing buyer.....

Alternatively, IF they had handled or indeed choose to enforce the S106, there is no risk whatsoever and allowing the Newcold development to be built outside the original plan was just plan wrong, albeit that it needed pp due to it being twice the height of the original cold store.

[Uncle Rico]

Re: Wakey stadium plans collapse- again. : Tue Oct 31, 2017 5:55 pm  

Lebron James wrote:

St Helens value their land at £14m that the stadium is built on

Regards

King James

That's a lot of caravans per acre (only kidding your majesty). Seriously, that does seem like a lot of money too much I'd say as I'd guess at £0.5m per acre tops and you aren't on 28 acres?

Re: Wakey stadium plans collapse- again. : Tue Oct 31, 2017 10:13 pm  

Lebron James wrote:

St Helens value their land at £14m that the stadium is built on

Regards

King James

You could probably buy the whole of St Helens for £14 million

Re: Wakey stadium plans collapse- again. : Wed Nov 01, 2017 12:26 am  

Lebron James wrote:

St Helens value their land at £14m that the stadium is built on

Regards

King James

Where is that from? The stadium as a whole is valued at around £30m but I've not seen a formal split between land/buildings (in fact not sure Saints even technically own the land as the stadium is long leasehold)?

Re: Wakey stadium plans collapse- again. : Wed Nov 01, 2017 9:32 am  

wrencat1873 wrote:

Alternatively, IF they had handled or indeed choose to enforce the S106, there is no risk whatsoever and allowing the Newcold development to be built outside the original plan was just plan wrong, albeit that it needed pp due to it being twice the height of the original cold store.

AFAIK, even if the controversial cold store is included, the development hasn't reached the trigger point for the stadium build so how do they enforce the S106? Also, I can't understand why Wake haven't had them in court by now - surely the threat would have been enough if they have a cast iron case...