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Post by rob on Apr 5, 2004 1:16:28 GMT 1
Its just hit me and I cant understand why-
Andy Shaw spent £millions and £millions building the ground and everything.
Why then does the club rent the ground of the Council???
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Post by grinfish on Apr 5, 2004 1:21:22 GMT 1
Perhaps he sold the land back to the council, then the club leases it, Whitehouse develops 2 sides, TUFC develops 2 sides. Therefore leaving one complete catastrophe of an ownership structure?
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Post by ThrobsBlackHat on Apr 5, 2004 1:21:37 GMT 1
The land is on a 999 year lease from the council to TUFC, and so basically TUFC do own it
The issue with it is Whitehouse Hotels, who now own the lease on the main stand, while I am led to believe the Naggington Stand is actually registered as part of the hotel itself
So Whitehouse Hotels will be sold by the receiver who has seized all of Shaw's assets, which means that the hotel will be sold as it is a profit making venture, and whoever buys it gets two sides of the ground as well
I am not 100% about this at all, but these are the facts being quoted, including in the Star
the great mystery with all of this is why on earth did the other directors not see this coming?
and it also would appear that TUFC now have to wait 997 years before they can claim back their executive boxes, which seems ludicrous
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Post by rob on Apr 5, 2004 1:24:11 GMT 1
Have to say that I've been told as nice as Mr Eaves is, he apparantly dosent have much of a clue about anything
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Post by ThrobsBlackHat on Apr 5, 2004 1:28:50 GMT 1
I know someone asked a question about who owned the ground at one of their early meetings and no-one really knew
it appears we will have to wait until the dust settles to find out exactly who owns what
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Post by grinfish on Apr 5, 2004 1:35:19 GMT 1
Pure conjecture, but perhaps the banks wouldnt loan enough for the TUFC project to construct the desired stands, but would over-lend on the hotel as a better "high yield investment", therefore half the ground is built out of the hotel's budget.
Can see the Whitehouse looking to flog off the Naggy and main stand , but not on the cheap thats for sure. Or we could see someone come in for the hotel, and snap up the rest of TUFC to boot. The current arrangement will not last long I reckon.
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