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Redevelopment Closer Than Ever?

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Author Topic: Redevelopment Closer Than Ever?  (Read 1051142 times)
Melbourne Cobbler
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« Reply #26860 on: May 23, 2020, 07:51:56 am »

Further to my earlier post for those interested a rather pertinent analysis from Business Ghana http://www.businessghana.com/site/news/sports/213685/EFL:-How-coronavirus-is-affecting-lower-league-clubs,-players,-fans-and-livelihoods
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« Reply #26861 on: June 10, 2020, 15:03:07 pm »

Northampton Town stand loan: £500k deal 'close'

https://www.bbc.co.uk/news/uk-england-northamptonshire-52977873

A deal to help complete a multi-million pound football stand at the centre of a long-running financial debacle has been proposed, the BBC has learned.

Northampton Town FC was originally loaned £10m from Northampton Borough Council to refurbish its East Stand - before work stalled in 2014.

The whereabouts of the money has since been subject to a police investigation.

A council spokesman said the sale of neighbouring development land for about £500,000 was being negotiated.

The club would be given an option to buy council-owned land next to Sixfields stadium, on condition the grandstand was finished.

The BBC understands this also includes a deadline of 31 July to sign the relevant paperwork.

The deal would would see the council sharing the proceeds of any subsequent development with the club.

A £3m cap on the cost of completing the stand was also likely to be part of the deal.

Northampton Town was originally loaned more than £10m to refurbish the stand and redevelop the land, but the contractors - Buckingham Group - left the site in 2014 because they were not paid.

Work resumed the following year but when payments still were not made the contractors downed tools again, putting the development company responsible for the project - 1st Land Ltd - into administration.

A spokesman for the club, which has since got new owners, told the BBC: "The overriding principle, as it always has been, is the development of the East Stand and that is an agreed point with Northampton Borough Council.

"In addition, NBC will need to demonstrate best value for any disposal of the freehold land, which is also accepted by the Football Club."

He said the club "does feel it has made progress" in discussions.

The "missing millions" have been subject to a four-and-a-half year police investigation which has cost the council £1m in legal fees and led to multiple arrests and files prepared on 30 suspects.

The BBC understands the proposal is to split the proceeds of the land development equally between the council and the football club.

A council spokesman confirmed discussions were taking place and said it had been "no secret" the football club was keen to develop the land, and had "put forward ideas for a number of possible development schemes".

He added: "Should a development deal progress, then the East Stand of the stadium absolutely must be built before any further development takes place, and any deal must deliver best value for the tax payer."
« Last Edit: June 10, 2020, 20:57:36 pm by memyhead » Report Spam   Logged
GrangeParkCobbler
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« Reply #26862 on: June 10, 2020, 15:23:24 pm »

Anything new there, apart from a figure and a deadline?

Council still saying "Stand first, enything else later"
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clarkeysntfc
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« Reply #26863 on: June 10, 2020, 15:52:35 pm »

Excellent news.
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« Reply #26864 on: June 10, 2020, 18:52:09 pm »

Please, please, please let it happen so we can put the issue to bed and move on!

Plus I hope the Police FINALLY conclude their investigation (after nearly 5 years!!!) and hammer any individuals who have broken the law!
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« Reply #26865 on: June 11, 2020, 05:04:54 am »

There's never been a better time to build. Money in the bank is worthless and raising it is cheap.

Lets hope finally some sense emerges and that fucking abortion gets finished before Christmas while the ground is empty. They could even work on matchdays to save on ball boys.

A win at Wembley wouldn't harm the chances.. Some potential full houses, Sunderland, Ipswich and I've forgotten now, who else will still be in league one next season?
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« Reply #26866 on: June 11, 2020, 09:34:23 am »

Hopefully this can now be pushed on. Anybody who has been involved in this sort of thing, will appreciate the amount of work and tricky negotiation that goes into a favourable outcome. If it comes to fruition, in my opinion both parties are to be congratulated, especially taking into account all of the unnecessary interference and petty distractions that have been a distraction from the ultimate objective.

But.. Let's wait and see. It's not like we're not equipped for further disappointment...  Grin Grin
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« Reply #26867 on: June 11, 2020, 09:37:45 am »

The Trust have released a statement via Facebook off the back of this news.....you can guess their response! Roll Eyes

East Stand development update

Here is the full statement from Northampton Town Supporters Trust which was provided to the BBC:-

"The deal on the East Stand has not been shared with the Supporters Trust and we have had only limited insight through freedom of information requests to Northampton Borough Council.
"Our reaction has to be constrained by the painful experiences of the last commercial arrangements that the council struck with the club, namely the £10.2million loan under the previous owners the Cardozas and the non-legally binding agreement with the present owners, which has seen no progress on delivering the East Stand from the owners' own funds. 
"While clearly we welcome progress towards the completion of the East Stand, it should be on terms which do not compromise the interests of the football club and the local taxpayer.
"Given the still largely unrecovered sum of £10.2 million, we believe any deal has to have the support of the wider council and not least the local taxpayers, who have had to shoulder that shortfall.
"Any attempt to cloak this deal in 'commercial confidentiality', given the wretched history of this long-running saga, is entirely unacceptable."
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clarkeysntfc
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« Reply #26868 on: June 11, 2020, 10:47:40 am »

One of the worst pieces of communications from any supporters trust, anywhere I have ever seen.
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« Reply #26869 on: June 11, 2020, 10:54:11 am »

The Trust have released a statement via Facebook off the back of this news.....you can guess their response! Roll Eyes

Can you put it on here?
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« Reply #26870 on: June 11, 2020, 10:57:35 am »

That means this page will finally end soon 🤷🏻‍♂️
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« Reply #26871 on: June 11, 2020, 11:00:13 am »

Can you put it on here?

Just added it to my original post...
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« Reply #26872 on: June 11, 2020, 11:00:23 am »

I hesitate to say this as it will undoubtedly be seen by some as more trust-bashing but... what are they trying to achieve with that statement? It reads as a series of veiled digs at the owners AND the council. What's to be gained by putting all involved party's backs up?

The only people that will appease is the baying mob of commenters on the Chron's Facebook page, who haven't followed the story in any detail and just want "their" £10m back from the football club.
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clarkeysntfc
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« Reply #26873 on: June 11, 2020, 11:13:13 am »

Can you put it on here?

https://www.facebook.com/ntfcsupporterstrust/posts/3339154839441868
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« Reply #26874 on: June 11, 2020, 11:39:17 am »

It would be nice to see some kind of statement from the club about this - I don’t think I’ve seen anything to date? Just out of interest - and the last thing I want to do is drag myself into the trust/anti-trust argument - whoever is doing the PR for the trust at the moment isn’t really doing themselves any favours. Did I read somewhere that the ex-Chron journo Andy Roberts is heavily involved and Tom Reed?
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« Reply #26875 on: June 11, 2020, 12:29:20 pm »

BBC reporter Marc Webber tweeted a reply to me saying that it will be discussed further on the returning Cobblers Show next Wednesday evening on Radio Northampton.

Not sure if KT will be on the show but I'm sure questions will have been asked by then.

I'm taking it as a positive as it's the first time a deadline (31/07/2020) has ever been mentioned regarding this.

Would make perfect sense for the work to commence whilst no fans are able to attend games.

Here's hoping!
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« Reply #26876 on: June 11, 2020, 13:06:39 pm »

BBC reporter Marc Webber tweeted a reply to me saying that it will be discussed further on the returning Cobblers Show next Wednesday evening on Radio Northampton.

Not sure if KT will be on the show but I'm sure questions will have been asked by then.

I'm taking it as a positive as it's the first time a deadline (31/07/2020) has ever been mentioned regarding this.

Would make perfect sense for the work to commence whilst no fans are able to attend games.

Here's hoping!

Having a deadline can be seen both ways. Its good knowing that we may have some progress by a certain date, but what happens if the Club do not meet this deadline? Is that it as far as the current owners are concerned? Do this deal and sort out the redev or else your chance is gone?

I'm also confused why the Council have put a £3m cap on the price of finishing the stand? Isn't that up to the owners to decide? If they want to spend £10m on a super stand it seems the council would not allow this....I don't get it!
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« Reply #26877 on: June 11, 2020, 13:34:07 pm »

Just added it to my original post...

Excellent, thank you.  Wink
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« Reply #26878 on: June 11, 2020, 13:43:10 pm »

What an awful response from the Trust. Just further confirmation how detached they are becoming from the fans with their constant belittling of  Northampton Town Football Club.
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« Reply #26879 on: June 11, 2020, 13:43:18 pm »

BBC reporter Marc Webber tweeted a reply to me saying that it will be discussed further on the returning Cobblers Show next Wednesday evening on Radio Northampton.

Not sure if KT will be on the show but I'm sure questions will have been asked by then.

I'm taking it as a positive as it's the first time a deadline (31/07/2020) has ever been mentioned regarding this.

Would make perfect sense for the work to commence whilst no fans are able to attend games.

Here's hoping!

I am going to wager a bet here (online of course) that agreement in principle is reached and that the day before the builders are due back on site, the UK goes into lockdown again! Grin
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