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Post by peterparker on Oct 5, 2018 8:55:09 GMT
So for £5m from Kingsmeadow and £14m form Galliard Homes they are building a new stadium with a loan, I assume that means they presently have no, or limited, debts? That's what gets me about Wael, why as he run up £6m+ of extra debts in just 3 year thereby losing virtually all the equity we had in the Mem. Any equity or not in The Mem will depend on what the AQ's are prepared to write off, what some is prepared to the AQ's if they take over and they are prepared to accept
Currently their is no equity in The Mem, but it is owned by the Owners who could give it back all it's equity at the drop of a hat.
I am not suggesting for a minute that is going to happen by the way.
Remember one of the conditions of the UWE project was their would be no debt attached to it. Would that still be the case in any negotiations between UWE and The AQ's/New owners/investors
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Post by BishopstonBRFC on Oct 5, 2018 8:57:20 GMT
I don't really understand what's supposed to have happened. If all it required was a meeting between the council and the club (and some of the SAG) then why did the council put out an official statement on the issue (if they did, that's what the post said) instead of just holding the meeting. Sounds like some people would rather blab to the Post than do their jobs. And it sounds like the BP laps that sort of sh**e up. The BP never miss an opportunity to create a fuss about nothing. It's almost as if they're trying to give their favourite football club(BCFC 1982) a laugh.
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Post by Deleted on Oct 5, 2018 9:00:37 GMT
So for £5m from Kingsmeadow and £14m form Galliard Homes they are building a new stadium with a loan, I assume that means they presently have no, or limited, debts? That's what gets me about Wael, why as he run up £6m+ of extra debts in just 3 year thereby losing virtually all the equity we had in the Mem. The secret is in the stadium design and capacity. The original planning application was for a 11K capacity costing £16m. Enabled by 602 homes surrounding the ground. Hmmmm. Cue soulless little box.
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Post by faggotygas on Oct 5, 2018 9:11:53 GMT
So for £5m from Kingsmeadow and £14m form Galliard Homes they are building a new stadium with a loan, I assume that means they presently have no, or limited, debts? That's what gets me about Wael, why as he run up £6m+ of extra debts in just 3 year thereby losing virtually all the equity we had in the Mem. Where are you getting that figure from?
In the 2015 accounts, the club had net liabilities of £7.3m, and owed £8.3m to creditors. In the 2016 accounts, the club suffered a loss of £751k and the club had a net liabilities of £7.7m, and owed £9.3m to creditors. In the 2017 accounts the club suffered a loss of £1.3m and had net liabilities of £9.1m, and owed £11m to creditors. I make that an increase in liabilities of £1.8m, amounts owed of £2.7m, and overall loss of around £2m.
Are you saying that we have lost around £4m this year? Even with the Bodin and Harrison income? Maybe you are right, but where are you getting that from please?
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Post by Deleted on Oct 5, 2018 9:12:57 GMT
And with prices like this, no wonder finance is available. The housing crisis paying for stadiums
The first 114 homes, at Stadia Three, Wimbledon Grounds are now on sale in three seven-storey brick apartment buildings with shop space beneath. Prices for a one-bedroom flat of nearly 600sq ft in this initial phase start from £425,000.
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Post by Congas on Oct 5, 2018 9:13:06 GMT
So for £5m from Kingsmeadow and £14m form Galliard Homes they are building a new stadium with a loan, I assume that means they presently have no, or limited, debts? That's what gets me about Wael, why as he run up £6m+ of extra debts in just 3 year thereby losing virtually all the equity we had in the Mem. The secret is in the stadium design and capacity. The original planning application was for a 11K capacity costing £16m. Enabled by 602 homes surrounding the ground. Hmmmm. Cue soulless little box. I'm sure they'll install some stinking urinals for all the blokes who think it was better before. Sponsored by Izal
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Post by chewbacca on Oct 5, 2018 9:30:59 GMT
Shame about not having to take them down, was hoping Gorringe would go full Albert Dryden.
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Post by yattongas on Oct 5, 2018 9:41:45 GMT
Update All stands are in operation for tomorrow and going forward apparently the evil post stirring the pot ! They did consider the stands going backwards after requests from fans but decided against in the end.
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Post by Topper Gas on Oct 5, 2018 9:44:35 GMT
So for £5m from Kingsmeadow and £14m form Galliard Homes they are building a new stadium with a loan, I assume that means they presently have no, or limited, debts? That's what gets me about Wael, why as he run up £6m+ of extra debts in just 3 year thereby losing virtually all the equity we had in the Mem. Where are you getting that figure from?
In the 2015 accounts, the club had net liabilities of £7.3m, and owed £8.3m to creditors. In the 2016 accounts, the club suffered a loss of £751k and the club had a net liabilities of £7.7m, and owed £9.3m to creditors. In the 2017 accounts the club suffered a loss of £1.3m and had net liabilities of £9.1m, and owed £11m to creditors. I make that an increase in liabilities of £1.8m, amounts owed of £2.7m, and overall loss of around £2m.
Are you saying that we have lost around £4m this year? Even with the Bodin and Harrison income? Maybe you are right, but where are you getting that from please?
Not done a mathematical calculation but our losses to May(?) 2017 were over £3m (https://www.bristolpost.co.uk/sport/football/football-news/bristol-rovers-finances-3m-loss-1375064) I doubt there was much of a reduction to May 2018, apart from avoiding the UWE fees but we had to pay £ 722,932 paid to a former shareholder and we're now virtually halfway though another financial year. Plus there's the £1m+ paid for the colony which is a debt incurred in relation to the club even if it doesn't appear on the club's accounts. I doubt Bodin's transfer fee will have had much effect as DC brought in Mensah, Craig & Bennett following his departure and most likely Harrison's first instalment went on Payne's transfer fees. The fact is if we haven't hit £15m yet, the approx value of the Mem, then we're heading that way fast.
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Post by warehamgas on Oct 5, 2018 10:50:23 GMT
Actually it’s worse at Bournemouth in a strange way. On Monday all around me the fans were having a great moan about no pace, not taking chances, not doing this, not doing that etc. One of my friends turned around and said we’re rubbish! Until they got a last few minutes pen to win 2-1 then they start talking about getting into the top 4. You couldn’t make it up. It happens every week, some of them really have forgotten where they’ve come from. It’s laughable really. Oh well, fans eh? UTG! Indeed, and some of our fans have forgotten where we have come from too.
Agree with that. I’m very satisfied with where we are now. More or less where we’ve been since I started in mid-60s. And a lot better than where we were 4 years ago! But if I say that too often and too loudly I’m called a “rose-tinter” or “happy-clapper”. Fans eh?😉 UTG!
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Post by faggotygas on Oct 5, 2018 11:01:56 GMT
Where are you getting that figure from?
In the 2015 accounts, the club had net liabilities of £7.3m, and owed £8.3m to creditors. In the 2016 accounts, the club suffered a loss of £751k and the club had a net liabilities of £7.7m, and owed £9.3m to creditors. In the 2017 accounts the club suffered a loss of £1.3m and had net liabilities of £9.1m, and owed £11m to creditors. I make that an increase in liabilities of £1.8m, amounts owed of £2.7m, and overall loss of around £2m.
Are you saying that we have lost around £4m this year? Even with the Bodin and Harrison income? Maybe you are right, but where are you getting that from please?
Not done a mathematical calculation but our losses to May(?) 2017 were over £3m (https://www.bristolpost.co.uk/sport/football/football-news/bristol-rovers-finances-3m-loss-1375064) I doubt there was much of a reduction to May 2018, apart from avoiding the UWE fees but we had to pay £ 722,932 paid to a former shareholder and we're now virtually halfway though another financial year. Plus there's the £1m+ paid for the colony which is a debt incurred in relation to the club even if it doesn't appear on the club's accounts. I doubt Bodin's transfer fee will have had much effect as DC brought in Mensah, Craig & Bennett following his departure and most likely Harrison's first instalment went on Payne's transfer fees. The fact is if we haven't hit £15m yet, the approx value of the Mem, then we're heading that way fast. Ah ok, I was looking at the other set of accounts.
So I guess that the Colony debt is balanced by an increase in assets, so net additional net debt on that will be minimal.
Is the £ 722,932 repayment of a debt? In which case that won't be an increase in debt, will it?
Are our annual losses significantly higher than in the old regime, ignoring the one-off UWE losses (which was accrued under the old regime but written off under this)?
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Post by Jomo on Oct 5, 2018 11:03:18 GMT
Indeed, and some of our fans have forgotten where we have come from too.
Agree with that. I’m very satisfied with where we are now. More or less where we’ve been since I started in mid-60s. And a lot better than where we were 4 years ago! But if I say that too often and too loudly I’m called a “rose-tinter” or “happy-clapper”. Fans eh?😉 UTG! So true. Guaranteed if we were ever to get to the Prem, our fans would be exactly the same. Short memories and lack of perspective are common among many football supporters unfortunately.
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Post by Deleted on Oct 5, 2018 11:24:01 GMT
They must have a way of funding themselves. Exeter have just redeveloped two sides of their ground and Wimbledon have almost finished clearing the site for their new stadium back in Wimbledon. Perhaps Jim Chappel and his team could visit both clubs to see how it’s done. not entirely sure how Exeter manage it but some info here. www.exetercityfc.co.uk/news/2017/april/report-exeter-city-afc-shareholders-agm-feedback/
however
Three recent board away days have focused on the variety of issues that need to be faced head-on. This includes a business plan born out of budget projections for the next five years. The elephant in the room is collectively (club, shareholders and supporters) deciding what our long-term vision is. The club board’s ambition is now being crystallised for the Trust to address.
Those decisions will guide our final plan:
1…revisit appropriateness of Deloitte Drivas Jonas recommendation from 10 years ago to stay at SJP; 2…change the model is an option to attract investment but is unacceptable to the club board; 3…keep the status quo and risk falling behind.
as for their redevelopment plans
The project began with a feasibility study in 2006, which led to a planning proposal in 2011. This was unfortunately aborted following a number of problems. The current scheme, with developer partner Yelverton Properties Developments Ltd, was instigated in 2014. It has overcome many setbacks and delays, including two substantial legal challenges.
The Old Grandstand, which was built in 1926 and is owned by Exeter City Council, would have needed extensive repairs, and possibly faced permanent closure in the future if it had failed an inspection by the Safety Advisory Group (the organisation responsible for stadium safety). The improvements will cost in the region of £3.5 million.
The new stand will offer a much enhanced fan experience, with no pillars to obstruct the view and vastly improved toilets and refreshment facilities. Exeter City Council has sold the freehold of the area of land behind the Big Bank at the club to the developer, who has also acquired adjoining land. Student accommodation of 312 beds will be built on the site.
Prior to this the club had leased the land (behind the Big Bank) from the city council. The club has surrendered the remaining four years of that lease to enable the sale of the freehold. The city council will use the proceeds of the land sale to fund the redevelopment.
as for Wimbledon, not sure how they fund their day to day stuff, but the ground
Wimbledon will soon start to search for a naming-rights partner for the new stadium, which will be just 250 yards down the road from the old Plough Lane ground where Wimbledon FC played. The club will help pay for the stadium with the sale of Kingsmeadow to Chelsea
Wimbledon are thought to be receiving around £5m. Wimbledon will also get a £14m windfall from developers Galliard Homes, who will build 602 homes, retail space and a squash and fitness club on the site. The club will take out a loan to finance the rest of the project.
Thanks PP. Just shows what clubs at our level and below can achieve when they think outside the box.
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Post by Deleted on Oct 5, 2018 11:26:30 GMT
The BP never miss an opportunity to create a fuss about nothing. It's almost as if they're trying to give their favourite football club(BCFC 1982) a laugh. Strange that seeing as the editor is a Gashead and has been a guest of directors on several occasions.
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Post by CheshireGas on Oct 5, 2018 11:30:01 GMT
It's almost as if they're trying to give their favourite football club(BCFC 1982) a laugh. Strange that seeing as the editor is a Gashead and has been a guest of directors on several occasions. May be but he was also very close to the previous regime at Rovers and 'helped' them out with issues they had with certain individuals over the years who disagreed with them.
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Post by curlywurly on Oct 5, 2018 11:31:52 GMT
Shame about not having to take them down, was hoping Gorringe would go full Albert Dryden. Had to google it, but that would have been entertaining!
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Post by Deleted on Oct 5, 2018 11:32:47 GMT
Strange that seeing as the editor is a Gashead and has been a guest of directors on several occasions. May be but he was also very close to the previous regime at Rovers and 'helped' them out with issues they had with certain individuals over the years who disagreed with them. I was aware of how we ended up with Dennis Payter ;-)
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Post by LJG on Oct 5, 2018 11:37:25 GMT
if you read, I am just illustrating the point. Whether you don't want to spend the money or if you have bigger ideas, making a sensible cost/risk free decision is a no brainer
I mention NH as it could/should have been done by anyone.
Criticising them for wanting out and not investing is one thing, communication and desire. fine
but picking the bars and the stands as an argument is a crap argument to make, because it makes F'N sense whichever way you cut it
Why's it a crap argument, Wael arrives at the club and in his first interview announces we need a new ground as a priority, then keeps up that pretence for 18+ months then, after an FB leak, has to admit he's walked away from talks with the UWE. Instead of just owing up he has no money comes up some crap about 12 leading designer working in a Member redevelopment. We find now instead of the ALQ's funding a £30m+ new stadium that they won't even fund any updates at the Mem unless they are self funding. It really bis beyond belief posters are still supporting them. Two old ladies have just finished having lunch together at a local cafe. As they're leaving one turns to the other and says "Goodness me, the food in that place was awful". Her friend replies "I know and such small portions"! You think the tent stands are sh1t but you're annoyed the owners haven't spent any money on them. Only Toppernomics could make that make sense.
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Post by chewbacca on Oct 5, 2018 11:45:49 GMT
Shame about not having to take them down, was hoping Gorringe would go full Albert Dryden. Had to google it, but that would have been entertaining!
"In another PR disaster for Bristol Rovers, Commercial Director Tom Gorringe today shot a Bristol City Council Planning Officer in the Car Park of the Memorial Stadium".
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Post by Antonio Fargas on Oct 5, 2018 11:56:06 GMT
Had to google it, but that would have been entertaining!
"In another PR disaster for Bristol Rovers, Commercial Director Tom Gorringe today shot a Bristol City Council Planning Officer in the Car Park of the Memorial Stadium". Or if it was the Bristol Post: Local pedestrian attacked by cyclist, this is what happened.
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