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Redevelopment Closer Than Ever?

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Author Topic: Redevelopment Closer Than Ever?  (Read 1843861 times)
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Vintage Cobbler
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« Reply #25820 on: November 10, 2019, 16:40:38 pm »

I agree Internet chatter is of limited impact but, as I said, it is read and noted at the club.  It would be much better if supporters spoke loudly with one voice on this issue but that is not going to happen unless a financial crisis breaks. Heaven forbid.   

There are any number of possible scenarios going forward.  We do not know the legal & financial terms on which KT/DB transferred their shares in CDNL to NTFC as has been reported by KT.  The information in the Q&A on 9 October was, as ever with KT, lacking in hard information.  The news that the shares had been transferred was almost a footnote to that NTFC Official Site article.  Make no mistake, this is all very deliberate, as is the absence of hard information.   This lack of information makes it hard to comment.  However, if the shares were transferred on terms that the sellers would have a share of a future onwards sale then consider the following possibility:

Following the grant of planning permission to CDNL by a willing NBC anxious to recoup the “missing millions” from the sale and development of what was community land NTFC under the control of DB/KT sells NTFC’s shares in CDNL to a major developer at a significant profit.  At that point CDNL and the wider development is permanently outside of NTFC’s ownership and control and proceeds unconnected with NTFC.  The sales proceeds are received by NTFC and in accordance with the “agreement” between DB/KT & NTFC (a tough negotiation I’m sure) made on the transfer to NTFC £5+ million of debt is repaid to Ventures and the BVI company owned by you know who plus a percentage of what is left after that.  As for the East Stand, over to a new owner if one surfaces.  All theoretical of course but not beyond the realms of possibility.

I hope you are right in what you say about KT doing the decent thing but unless and until our owners tell us what are their intentions then speculation and rumours will abound.  Their history of a lack of openness and transparency during their 4 years of ownership should be a warning to all, including the Council if that is it has any real interest beyond hollow words in the future sustainability and success of the town’s football club.  Both our owners and the Council have made a rod for their own backs but the danger is if we sit on our hands it will be too late.

On the comments you make about community ownership I think you have some misconceptions about how it would work but I will save that for another time.  I have written enough for now.
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