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Redevelopment Closer Than Ever?

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Author Topic: Redevelopment Closer Than Ever?  (Read 843238 times)
Zen Master
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« Reply #21920 on: June 07, 2018, 10:55:36 am »

Yes it was covered in the CVA and is on page 4 last paragraph on the documents for the 3rd of November.

https://beta.companieshouse.gov.uk/company/08589683/filing-history
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« Reply #21921 on: June 07, 2018, 11:44:47 am »

Sifting through the facts and the opinions here I'm getting the impression that the KT skeptics are not necessarily calling him out for pulling a flanker on the lease acquisition (after all it was a free market and if he as a businessman was more nimble to spot an opportunity arguably why not) - what seems to nark particularly was the backdrop to the acquisition & perhaps why the council stepped back was the promise of the 4 million to develop the stand irrespective of any land or lease arrangement - translating the councils consistent wording on nothing to do with the leases stops that particular development then they have a point and KT has perhaps chosen other business interests ahead of that of the football club - wiser posters on the subject please advise if I've (finally) got it........
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« Reply #21922 on: June 07, 2018, 11:58:59 am »

Here is the MoU. Can’t see any mention in it of £4 million. It does mention about the completion of the East Stand and also about the leases.
As CDNhttp://www.northamptonboroughcouncil.com/councillors/documents/s48420/Memorandum%20of%20Understanding%20-%20TC%20181115%202.pdfL never went into liquidation it never lost the control of said leases.

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« Reply #21923 on: June 07, 2018, 12:27:22 pm »

That MoU is one of the most badly written and meaningless documents I have ever read.
The council fully expected to get the land back from the liquidator and made it clear that the east stand was to be finished.
BTW the council fought hard to block KT and DB getting the land.
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« Reply #21924 on: June 07, 2018, 12:37:27 pm »

Their vote was worth less than Buckingham’s so did not block the agreement
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« Reply #21925 on: June 07, 2018, 12:47:14 pm »

Sifting through the facts and the opinions here I'm getting the impression that the KT skeptics are not necessarily calling him out for pulling a flanker on the lease acquisition (after all it was a free market and if he as a businessman was more nimble to spot an opportunity arguably why not) - what seems to nark particularly was the backdrop to the acquisition & perhaps why the council stepped back was the promise of the 4 million to develop the stand irrespective of any land or lease arrangement - translating the councils consistent wording on nothing to do with the leases stops that particular development then they have a point and KT has perhaps chosen other business interests ahead of that of the football club - wiser posters on the subject please advise if I've (finally) got it........

It was KT who mentioned 4 million ring-fenced, but I don't believe he ever stated this was purely for the stand, did he? However, part of the MoU covers his intention to complete, and infers finances already available.

As for the CVA issue, which Barnabas and a few others mentioned, once KT's group successfully acted it was difficult for the council to do anything other than take the hit. I have been told they made legal moves to block KT acquiring the CVA deal, but I must stress this is just hearsay and I've found no evidence of this.

It is a strange one though, as in the statement they released recently, KT and DB insisted they only made moves to acquire CDNL because of an issue with the lease, wherein a part of the East Stand had been signed over to CDNL. This is weird, and again I've found nothing showing this issue.
However, if this should turn out to be the case, then, as Manwork suggests, surely it should be possible to strike a deal wherein everyone wins, ie; Impressive new stand; council recoup their ten million, plus terms applicable to their previous land deal, and KT's group make good money.

I'm still inclined to believe the club is just a means to an end. Though, just like when the Cardozas' were here, I have no problems at all with our owners making a pot; just so long as the club reap some benefit, and - in this instance - the council too.
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« Reply #21926 on: June 07, 2018, 13:04:21 pm »

Stunning incompetence by the council, even with KT's group telling them what was going to happen with the leases they still managed to screw up.

I believe they've gone through 6 planning officers in the period since KT took over. An organisation in chaos.
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GrangeParkCobbler
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« Reply #21927 on: June 07, 2018, 13:08:03 pm »

The MoU.......

2e.....The Football Club will establish arrangements with the Supporters Trust for their
involvement in the Football Club as soon as possible and at the latest by 31
st March 2016.

How did that work out?? And what did the Trust do about the "non-compliance"?

4. The Football Club shall have the exclusive use of the East Stand room hire on match days at no
cost to include, but not limited to, Hospitality Boxes; Executive Lounge; Terracing and
Concourse.

Seems to suggest that the East stand would be run as a separate entity to the rest of the ground? Why would this provision be there? Because someone else ran the stand and this was to stop them renting it out to other parties on matchdays??
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« Reply #21928 on: June 07, 2018, 13:37:21 pm »

The MoU.......

2e.....The Football Club will establish arrangements with the Supporters Trust for their
involvement in the Football Club as soon as possible and at the latest by 31
st March 2016.

How did that work out?? And what did the Trust do about the "non-compliance"?

4. The Football Club shall have the exclusive use of the East Stand room hire on match days at no
cost to include, but not limited to, Hospitality Boxes; Executive Lounge; Terracing and
Concourse.

Seems to suggest that the East stand would be run as a separate entity to the rest of the ground? Why would this provision be there? Because someone else ran the stand and this was to stop them renting it out to other parties on matchdays??

Yeah, item 4 is certainly a strange one. It also doesn't actually mention about completing the East Stand works, and yet, in the Council minutes covering the vote to accept the MoU deal it says the new owners will complete the stand. I'm surprised this isn't outlined better here.
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« Reply #21929 on: June 07, 2018, 14:03:42 pm »

Yeah, item 4 is certainly a strange one. It also doesn't actually mention about completing the East Stand works, and yet, in the Council minutes covering the vote to accept the MoU deal it says the new owners will complete the stand. I'm surprised this isn't outlined better here.

What does involvement of the Trust in the football club actually mean? Really poorly worded which is a mistake with KT.

That said it's clear the Council wanted the Trust to have a role with the club and yet the Trust have not been allowed a place on the club board. This is very poor indeed. However, despite being highly cynical of private club owners I and others have put faith in Thomas and Bower and hope that they will right any wrongs in their next moves. We'll see.
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« Reply #21930 on: June 07, 2018, 14:19:45 pm »

I'm not a lawyer, but I'm pretty sure that MoU hasn't been touched by one!
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GrangeParkCobbler
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« Reply #21931 on: June 07, 2018, 14:44:21 pm »

I'm not a lawyer, but I'm pretty sure that MoU hasn't been touched by one!

It wasn't...but it states its non-legally binding anyway......just a memo of understanding.........no lawyers required!!

However.....at the Council Meeting back in November 2015, at the height of the clubs financial woes the Council had a choice of three moves to make.

3.3.2 The Council has the following options:
3.3.3 Option 1 – Agree the proposed MoU and approach outlined in this report with the Kelvin Thomas Consortium.
3.3.4 Option 2 – Engage with one of the other parties to work with to purchase NTFC. It should be noted that there is insufficient time to undertake the required due diligence to approve such a proposal before the Administration and Liquidation deadlines.
3.3.5 Option 3 – The Council instigates an Administration process against NTFC in order to place the Club on a sustainable financial footing prior to it being marketed for sale by the Administrator.

So that "non-legally binding untouched by a lawyer" document formed at least part of the basis for The Council choosing option 1.
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« Reply #21932 on: June 08, 2018, 10:16:01 am »

What does involvement of the Trust in the football club actually mean? Really poorly worded which is a mistake with KT.

That said it's clear the Council wanted the Trust to have a role with the club and yet the Trust have not been allowed a place on the club board. This is very poor indeed. However, despite being highly cynical of private club owners I and others have put faith in Thomas and Bower and hope that they will right any wrongs in their next moves. We'll see.
From a business perspective the wording about involvement is perfect for KT. As long as any contact was made about the club then they have fore filled their obligation. Things such as the open sessions, consultations on fans village etc mean that have ticked that box.
Not saying they have gone against the intent but as far as any "non-compliance" issues GPC mentioned, they have fully complied with it as it is written (IMO)
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GrangeParkCobbler
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« Reply #21933 on: June 08, 2018, 13:11:13 pm »

From a business perspective the wording about involvement is perfect for KT. As long as any contact was made about the club then they have fore filled their obligation. Things such as the open sessions, consultations on fans village etc mean that have ticked that box.
Not saying they have gone against the intent but as far as any "non-compliance" issues GPC mentioned, they have fully complied with it as it is written (IMO)

True enough......the statement/requirement was pretty much open to interpretation and in the above it isn't like the Trust haven't been completely shunned, there has been involvement.
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« Reply #21934 on: June 08, 2018, 13:40:36 pm »

Good point Grange, to my way of thinking thats the way it should. The Trust in my view works alot better when it is detatched from the Club. Fans in the past  felt the Trust were too close to the Club, now i think they have re-engaged with the fans more.
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« Reply #21935 on: June 08, 2018, 14:33:05 pm »

Agree that the Trust should be separate.
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GrangeParkCobbler
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« Reply #21936 on: June 08, 2018, 20:18:53 pm »

Progress!!!

http://www.northamptonboroughcouncil.com/documents/s56434/Sixfields%20cabinet%20V7%207June%20final.pdf
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« Reply #21937 on: June 08, 2018, 20:37:30 pm »

So agree the boundary. Complete the East Stand, the council can make cash from the other land (to pay back the loan) and everyone is happy? Cardoza smashed the golden egg.
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« Reply #21938 on: June 08, 2018, 21:48:45 pm »


Here is the map

http://www.northamptonboroughcouncil.com/councillors/documents/s56435/Plan.pdf

So in essence the red part is surrendered to the council from CDNL but it then forms part of the original lease to NTFC so in control of the club allowing for unhindered development of East Stand.

I think!

The rest is still held by CDNL I believe.
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GrangeParkCobbler
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« Reply #21939 on: June 08, 2018, 22:47:23 pm »

Here is the map

http://www.northamptonboroughcouncil.com/councillors/documents/s56435/Plan.pdf

So in essence the red part is surrendered to the council from CDNL but it then forms part of the original lease to NTFC so in control of the club allowing for unhindered development of East Stand.

I think!

The rest is still held by CDNL I believe.

Doesn't seem to be a lot of the "rest " left!! Just a telephone shaped piece!!
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