Trinity wrote:It really is appalling and matches the dishonesty of Mr Posh's allegations against my hubby Truth making nuisance and abusive phone calls at his home address.
most people recognise that our continued development depends on this move. We simply cannot deliver such a project here (we examined that possibility first and found that we would have increased debt as a result)
move to a ground where it can gain revenue, secure it's future and not go into debt
Gnasher wrote:According to the press releases, the money Sainsburys are paying for Christie Park will pay for all of the new development and wipe out the club debts. I guess that "Sainsbury" money might include money from companies moving into the new site such as hotel and food outlets. When we move to the new ground we will be debt free, not bad hey?
The Marksman wrote:...however, I just can't see how we could buy a piece of land and build a new stadium plus training facilities for the same price of a different bit of land - so I was wondering if anyone knew what (if any) the difference was and how long we're planning it taking us to pay it off.
Keith wrote:The Marksman wrote:...however, I just can't see how we could buy a piece of land and build a new stadium plus training facilities for the same price of a different bit of land - so I was wondering if anyone knew what (if any) the difference was and how long we're planning it taking us to pay it off.
Obviously I don't know any of the details so I'm speculating.
I guess that Sainsbury's don't want to build a store at that end of Westgate, and therefore feel that Christie Park is of more value. Also I guess that the council will have been keen to sell the land to us because of the inward investments but would have had to sell the land to Sainsbury's at 'market value'.
Therefore... (with completely made up figures to illustrate)
say...
Land on Westgate worth £300,000.
Christie Park worth £600,000
Building of new stadium £500,000
Sainsbury's buy Christie Park for £1,000,000 including sponsorship for the first season of the new ground.
Council sell the land on Westgate for £100,000 because it is a good deal for the community.
We build a new stadium and have £400,000 to spend on the facilities for Westgate Wanderers to move to and clear our debts.
We end up with a new stadium & training facilities. The people of the town have access to basketball & tennis courts. Westgate Wanderers get new, decent facilities. We have income from a hotel, retail outlets, fast food, conferencing & weddings to secure our future and we are debt free.
And it is cost neutral.
Like I say, those figures are to illustrate my point and I'm guessing that the deal is something like that.
Mr McGuigan called Tuesday 'a momentous occasion for Morecambe Football Club and we believe the town of Morecambe'.
He said: "It is great to announce that the Football Club will be debt-free. In today's climate, for any club to be debt free and have a new stadium to make us financially secure puts us up with some of the top clubs in the country. This is a tremendous achievement for Morecambe Football Club."
The Marksman wrote:I don't wish to offend, Keith, but that answer is basically useless - anyone could do some fag packet sums to come up with the answer that we end up with no debt.
Does anyone have anything official?
The Marksman wrote:...however, I just can't see how we could buy a piece of land and build a new stadium plus training facilities for the same price of a different bit of land
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