70's Mike Posted 11 April, 2009 Share Posted 11 April, 2009 Where does that leave the sale of the football club if the council removes the biggest creditor? Does the football club suddenly cost less or more? According too tonights Echo the council may build offices over the top of the existing car park, nice view of the gas holders unless they mean the chapel car park Link to comment Share on other sites More sharing options...
dubai_phil Posted 11 April, 2009 Share Posted 11 April, 2009 Where does that leave the sale of the football club if the council removes the biggest creditor? Does the football club suddenly cost less or more? According too tonights Echo the council may build offices over the top of the existing car park, nice view of the gas holders unless they mean the chapel car park It is quoted on here that it seems Aviva would accept a discount on the 22.4mil that we owe on the Stadium Bond - in my guess that means it was a toxic debt and probably sold on to RBS.... So, say the council buy it on the cheap, a consortium would save that amount of capital - say something like 5mil on their bid But, the council would in no doubt require the club (in whatever guise emerges) to pay rent each season or game. So the question is how much rent would they want? If they wanted 1mil a season that would soon be a higher burden on the profit of the club (and it's ability to invest in the squad) than the actual cost of paying off Aviva. Others may know the figures better and our guru accountant types could explain the benefits of having it as a capital asset instead of a cost. Also MORE worryingly - the stadium book value is about 30mil in 2008 annual report. Buying an asset at 15% of that would make the club look better IF that consortium wanted to stabilise us and then sell us at a profit when the global economy improved - it will affect their "Exit Strategy". Pay someting like 10 mil for the club and when the good times roll sell it on for the 30mil or so it was supposed to be worth in the good old takeover thread days..... Now THAT could be a worry IF it reduces the return or options for any of the 34 consortia (or 4/5 alleged real ones). It may make buying us a less attractive proposition lots of IF's in that but pretty close I guess - a decision for accountants and deal doers not us but maybe handy insurance Link to comment Share on other sites More sharing options...
StuRomseySaint Posted 12 April, 2009 Share Posted 12 April, 2009 This really would be a last resort. If the council end up buying it then it's because the new investors have not got a pot to **** in. If you are going to buy a football club then you want ALL assets, as far as non matchday money making, the stadium is the main source, if the council owned it then you would be seriously restricting the income of any investor. Link to comment Share on other sites More sharing options...
trousers Posted 15 April, 2009 Share Posted 15 April, 2009 (edited) http://www.dailyecho.co.uk/search/4288533.Lib_Dems_cautiously_back_bid_to_buy_stadium/ Edited 15 April, 2009 by Baj Do not copy articles verbatim Link to comment Share on other sites More sharing options...
DT Posted 15 April, 2009 Share Posted 15 April, 2009 I would be most keen to get assurances in the small print of this buyout that on no condition should the council be allowed to rent out the club to certain other clubs in the area! Someone should ask the council to stamp out any possibility whatsoever of a ground share with Portsmouth. Other than that I can only see good in this arrangement. Retail would also be a good addition in close proximity to the stadium, perhaps with somewhere good to eat. Link to comment Share on other sites More sharing options...
DT Posted 15 April, 2009 Share Posted 15 April, 2009 http://www.dailyecho.co.uk/search/4288533.Lib_Dems_cautiously_back_bid_to_buy_stadium/ I really don't understand why tax payers money cannot be used for something that is clearly an economic generator for the people who pay such taxes and in order to preserve something that materially affects the standing of the city and its lure for other investment. What's the bloody problem? Link to comment Share on other sites More sharing options...
simonsaints1 Posted 15 April, 2009 Share Posted 15 April, 2009 Not a bad idea cos most of our debt comes from the stadium so if the council buy and we just rent it back from them on match days we can afford to keep our best players. Link to comment Share on other sites More sharing options...
paulwantsapint Posted 15 April, 2009 Share Posted 15 April, 2009 A partnership with council could be useful if it allowed SAINTS to make money & have the chance to attract outside money spinning ideas like proper annual rock gigs BUT make sure SMS is only for use by SAINTS benefiting purposes Link to comment Share on other sites More sharing options...
CHAPEL END CHARLIE Posted 15 April, 2009 Share Posted 15 April, 2009 Not a bad idea cos most of our debt comes from the stadium so if the council buy and we just rent it back from them on match days we can afford to keep our best players. That rather depends on how high the 'Landlord' sets the 'rent' for the stadium doesn't it ? I'd imagine the council would set fairly generous terms as I can't see a full commercial rent that might potentially force us into administration again at some stage in the future being a particularly attractive prospect to the local politicians who'd get the blame . Link to comment Share on other sites More sharing options...
The Kraken Posted 15 April, 2009 Share Posted 15 April, 2009 A partnership with council could be useful if it allowed SAINTS to make money & have the chance to attract outside money spinning ideas like proper annual rock gigs BUT make sure SMS is only for use by SAINTS benefiting purposes So you want the council to bail us out by providing a huge cash windfall to buy the stadium, and then forego any possibility of financial return from any extra events so that Saints can earn some extra income instead?? Yep, I can see Southampton City Council voting for that...... Link to comment Share on other sites More sharing options...
qwertySFC Posted 15 April, 2009 Share Posted 15 April, 2009 It all comes down to the caveats that the council come up with if they owned the ground. Would we be having the regular fun fair here rather than the common for instance or will egg chasers be cutting up the pitch. If they can rent the ground to SFC at a reasonable cost it is worth further investigation , its not local election this year is it ?? Rent it and hopfully SFC has control what goes on at the ground Link to comment Share on other sites More sharing options...
Joesaint Posted 15 April, 2009 Share Posted 15 April, 2009 To be honest I just hope something can be done to save the saints, I think I'd even like rugby if that is an extra way to raise money for whoever has bought SMS or saints as a whole. I have no/little money to help the club I love. I come to the games and can buy the shirt not much else. Link to comment Share on other sites More sharing options...
Saint Fan CaM Posted 15 April, 2009 Share Posted 15 April, 2009 I think I would rather the City Council owned the stadium TBH than some private individual. The Council are responsible to the people of the City whereas this would not be the case for a private owner who would have the right to lease it out to whoever wanted it...e.g. P*mpey while their shed is rotated. Link to comment Share on other sites More sharing options...
Viking Warrior Posted 15 April, 2009 Share Posted 15 April, 2009 If the mamby pamby liberals are supporting it, then the football club will have no future. I recollect the libbies (Davies Dear) despised football when we had the say yes to stoneham campaign . He told me in eastliegh that he disliked football and what the local communty need was a good outdoor cross country track. Hw would do everything possible to oppose saints having a new stadium. So expect the national cross country champions to be held annually in SMS. Link to comment Share on other sites More sharing options...
hamster Posted 15 April, 2009 Share Posted 15 April, 2009 ...unless they mean the chapel car park I'd go for that. After all next year our plauers will all be too young to drive, so no more X5's. Keep the bike racks though, we'll need them for their BMXs'. Link to comment Share on other sites More sharing options...
hamster Posted 15 April, 2009 Share Posted 15 April, 2009 This really would be a last resort. If the council end up buying it then it's because the new investors have not got a pot to **** in. If you are going to buy a football club then you want ALL assets, as far as non matchday money making, the stadium is the main source, if the council owned it then you would be seriously restricting the income of any investor. I would prefer someone who just wants the football club tbh Stu. If they want SLH, then they want their heads testing or they are only after selling on (at some stage). And if the latter then us fans will be way down their list of priorities. I am fed up of being a customer. Link to comment Share on other sites More sharing options...
hamster Posted 15 April, 2009 Share Posted 15 April, 2009 Council ownership of the stadium and a visionary Council who invested in it's citizens, could really regenearte the whole Northam area. We could be the bew Monaco. But seriously this could only be a good thing, if only we had a visionary Council... Link to comment Share on other sites More sharing options...
scottzoo Posted 16 April, 2009 Share Posted 16 April, 2009 Dam i met the MD of NU last night should of asked him how much to settle Link to comment Share on other sites More sharing options...
alpine_saint Posted 16 April, 2009 Share Posted 16 April, 2009 Mixed feelings. Yes, it annuls the biggest debt of the parent company, and ensures that the place stays a football stadium. However, the club will not feel "whole" again, and I worry that such a move may prevent a genuine bidder buying the club lock,stock and barrel and setting it up properly. Its preferable to the club going under, but as someone else has said, if this happens it means that all of the other 30-odd enquiries were either a joke or have no funds. Link to comment Share on other sites More sharing options...
Dicko Posted 16 April, 2009 Share Posted 16 April, 2009 If the council buying SMS is the key to our survival, then its a no-brainer However, I'd hate to see the pitch with rugby markings etc, as the council try & recover the money in every way imaginable Link to comment Share on other sites More sharing options...
DT Posted 16 April, 2009 Share Posted 16 April, 2009 He told me in eastliegh that he disliked football and what the local communty need was a good outdoor cross country track. SMS. Are there indoor cross country tracks too, then? Link to comment Share on other sites More sharing options...
Danny Posted 16 April, 2009 Share Posted 16 April, 2009 Mixed feelings. Yes, it annuls the biggest debt of the parent company, and ensures that the place stays a football stadium. However, the club will not feel "whole" again, and I worry that such a move may prevent a genuine bidder buying the club lock,stock and barrel and setting it up properly. Didn't stop Coventry being bought out. Or Man City - although I'm not entirely sure the COMS is still owned by the local authority. Link to comment Share on other sites More sharing options...
Torres Posted 16 April, 2009 Share Posted 16 April, 2009 I doubt that Donny or Hull are bemoaning the involvement of their local councils in the ownership of their new grounds either. Link to comment Share on other sites More sharing options...
Scummer Posted 16 April, 2009 Share Posted 16 April, 2009 Or Man City - although I'm not entirely sure the COMS is still owned by the local authority. Yeah it is, see the 'what are people buying' thread. Link to comment Share on other sites More sharing options...
Danny Posted 16 April, 2009 Share Posted 16 April, 2009 Yeah it is, see the 'what are people buying' thread. Ta. Link to comment Share on other sites More sharing options...
trousers Posted 16 April, 2009 Share Posted 16 April, 2009 http://www.dailyecho.co.uk/search/4288533.Lib_Dems_cautiously_back_bid_to_buy_stadium/ Last edited by Baj; Yesterday at 05:49 PM.. Reason: Do not copy articles verbatim I assume the reverse applies to certain news outlets who, some people say, copy stuff verbatim from here....? Link to comment Share on other sites More sharing options...
trousers Posted 18 April, 2009 Share Posted 18 April, 2009 I assume the reverse applies to certain news outlets who, some people say, copy stuff verbatim from here....? Can I have my 'cut and paste' back now please....? Link to comment Share on other sites More sharing options...
CHAPEL END CHARLIE Posted 19 April, 2009 Share Posted 19 April, 2009 This has been on the Echo site all day but I'll post it as nobody else has : http://www.dailyecho.co.uk/sport/saints/ Link to comment Share on other sites More sharing options...
StuRomseySaint Posted 19 April, 2009 Share Posted 19 April, 2009 I hope this option is only taken as a completely last resort. You won't attract any serious bidders willing to spend on the team in our position with a tenancy of St Marys. Link to comment Share on other sites More sharing options...
Whitey Grandad Posted 19 April, 2009 Share Posted 19 April, 2009 Someone told me that the stadium is the hub of the City's cctv operation and the Council didn't want to lose control of it. Any truth in this? Link to comment Share on other sites More sharing options...
70's Mike Posted 19 April, 2009 Author Share Posted 19 April, 2009 Someone told me that the stadium is the hub of the City's cctv operation and the Council didn't want to lose control of it. Any truth in this? yes and they use the Northam Car Park during week for staff parking Link to comment Share on other sites More sharing options...
um pahars Posted 19 April, 2009 Share Posted 19 April, 2009 I hope this option is only taken as a completely last resort. You won't attract any serious bidders willing to spend on the team in our position with a tenancy of St Marys. It all depends on the agreement etc, but here is a possibility that it could actually be an attractive deal to the Club. If the rental was say variable based on attendances etc, with an option to purchase if things are going well, then it might not be a bad shout. If the rental increased with our ability to pay, then it might take some of the fixed cost and potential risk out of the equation. I accept that if someone has not got the cash to buy the Club and the ground it may not say much for their ability to fund us, but in the absence of a mega backer, it could actually make sense to pass that debt and worry on to someone else. It would all depend on how the deal was structured, but I wouldn't rule it out on principle. Link to comment Share on other sites More sharing options...
Toadhall Saint Posted 19 April, 2009 Share Posted 19 April, 2009 It all depends on the agreement etc, but here is a possibility that it could actually be an attractive deal to the Club. If the rental was say variable based on attendances etc, with an option to purchase if things are going well, then it might not be a bad shout. If the rental increased with our ability to pay, then it might take some of the fixed cost and potential risk out of the equation. I accept that if someone has not got the cash to buy the Club and the ground it may not say much for their ability to fund us, but in the absence of a mega backer, it could actually make sense to pass that debt and worry on to someone else. It would all depend on how the deal was structured, but I wouldn't rule it out on principle. Its all in how the deal is made? As a prospective buyer of the club - if I knew my outgoings were based on performances with the option to buy the ground at a later date then it could make me spend more on the team. Link to comment Share on other sites More sharing options...
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