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Council decision day

April 19 2017 at 8:05 AM
Geoff B  (Login Coastalview)

 
Isn't it today when the council makes their decision on the loan they have brokered.

I was told at the Hampshire game that the investor was named Caddick! I have no idea if that is true or not.

Anybody in the know!

 
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Guest
(Login ThirdUmpire)

Re: Council decision day

April 19 2017, 8:34 AM 

But the statement said a financial services company whereas Caddick is in construction.

Unless it's Andy....

However I suspect Mr Caddick from the rugby side will be involved in the actual redevelopment.

 
 
Martin
(Login Martinh00)

Re: Council decision day

April 19 2017, 11:08 AM 

Caddick has moved away from construction these days and is really a property owner and developer (they don't do the building work themselves), so it isn't beyond the realms of possibility. However, I seem to think that it was said that it was a London based financier.

 
 
Papag
(Login Papag1)

Re: Council decision day

April 19 2017, 4:01 PM 

Cash found so the headline goes do we all go out now to celebrate.No doubt another private equity hedge fund funding or something on similar lines to how the schools are built, this will come back to bite us in a few years time, people never seem to learn there are no free lunches in life.


    
This message has been edited by Papag1 on Apr 19, 2017 4:02 PM


 
 
Guest
(Login Danum)

Re: Council decision day

April 19 2017, 8:33 PM 

I spoke at some length to Mark Arthur after the EGM to elect Hutton. I asked if the financing was a. Lever rise to keep the debt off the books and thus avoid another uncomfortable EGM. I was reassured that the club will call an EGM come what may in order to lay out the proposal in full to members. So at least we will have a chance to have a say even if we can't necessarily stop it. Not that I particularly want to, but I do want to know how it is to be afforded and not put the future at undue risk.

 
 
Geoff B
(Login Coastalview)

Commercial in confidence

April 19 2017, 9:08 PM 

I'm sure business people will come up with a hundred reasons why the investor, or investment group behind this project is not being named.

As a non-business person I would be happier to see all the details laid out for inspection. If it's the best deal all round for all parties then nobody could possibly argue with that.

If it's not the best deal for everyone then with an open process perhaps someone might be able to come up with something better.

I know it's a race against time etc etc, but I have an awful feeling that there's going to be one heck of a controversy, I may even go so far as to say scandal, about all this down the line.

 
 
Stu
(Login StuartRA)
Assistant Moderator

Re: Council decision day

April 20 2017, 9:20 AM 

Any links to the announcement? Nothing on the OS or in the YP today.

 
 
Guest
(Login ThirdUmpire)

Re: Council decision day

April 20 2017, 9:37 AM 

If I was a betting man then I'd put money on the mystery backer being connected with Colin Graves somewhere but clearly in his new role at the ECB he wouldn't look good if he was propping up one county over another.

He sold Costcutter to Bibby a few years ago so needs to put his money made somewhere. It's acting as a guarantee via a trust for some of our debts but the new backer may also be linked to Colin.

 
 
Martin
(Login Martinh00)

Re: Council decision day

April 20 2017, 9:41 AM 

I suspect that it will all come out in the wash once the contracts are signed - I doubt these days that it is possible to have a backer who is completely anonymous. It is in the YEP today:

http://www.yorkshireeveningpost.co.uk/our-city/north-leeds/headingley/leeds-council-rushes-through-35m-headingley-stadium-redevelopment-deal-work-could-start-within-weeks-1-8501366


 
 
Ball-Sup (Phil)
(Login ball_sup)

Re: Council decision day

April 20 2017, 12:13 PM 

Here is what I know.
When we didn't own the ground, we were told we must go into debt to buy it. It was the only way forward for the Club.
Now we own the ground, we are told we must let some financial group own bits of the ground, so Leeds Council can rent it off them & we can then rent it off the Council. It's the only way forward for the Club.
Smoke & Mirrors
Desperation
Bollocks

Phil

 
 
Stu
(Login StuartRA)
Assistant Moderator

Re: Council decision day

April 20 2017, 3:07 PM 

Agree Phil.

From Cricinfo

http://www.espncricinfo.com/england/content/story/1093517.html

No wiser as to who the investment company is, but looks like we will be paying rent on our ground for ever and ever now, after going down the path of borrowing heavily to originally buy it!!


    
This message has been edited by StuartRA on Apr 20, 2017 3:08 PM


 
 
YorkTyke
(Login YorkTyke)

Re: Council Decision Day

April 20 2017, 7:31 PM 

I thought that the rugby club retained ownership of the whole of the rugby stand (including the cricket side) after YCCC bought the cricket ground as it is a single structure. That being the case once the new stand is built there will be no change in ownership.

According to the proposals YCCC will eventually own the cricket part of the stand once the accumulated rent which has been paid reaches an agreed sum.

 
 
Guest
(Login Stephenxy)

Re: Council decision day

April 21 2017, 8:16 AM 

Currently ownership is 5050. For legal purposes line down middle yccc own all to the right of the line

 
 
 
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