Here we go again!

[KenH]

As long as they build a childrens playpark can they get away with this?

Given all the formalities of transferring the trust from Christie to Westgate, including approval from Parliament, I very much doubt anyone would get away with it.

[Keith]

I think if I bought a business for a pound ...and all the other directors forgot their debts and left...and the business was losing half a million a year ....and I had no affinity to the business its local community etc...I might be tempted to close it down and sell it off for social housing.

As long as they build a childrens playpark can they get away with this?

I'm pretty sure the trust says 'the land must be used for...' not 'some of the land must be used for...'

[Posh]

The article the Trust put forward is pretty straightforward. The purpose of the JB Christie Trust is to ensure the existence of a ground for the purpose of Morecambe’s Football team. The Trust own the land marked on the map. Contrary to Ken’s, otherwise excellent, comments it doesn’t own the stadium or any buildings. Morecambe Football Club Ltd owns the buildings and land to the side, most notably the car parking.

When the Globe opened our accounts showed an asset value of over £9 million, including land that was sold. This has fallen after land sales but still places a large value on the stadium, about £6 million. Effectively this valuation has kept us afloat. However, in my view, the stadium buildings are worth nothing because it is a bit difficult to use them for much else or knock them down and build anything else. They may have a value but it is nothing like that amount.

As discussed previously, the community block is the only part of the ground not owned by MFC Ltd and was owned by PMG Leisure. Now one corner of our ground is owned by Cerberus Capital, the European arm of a US vulture fund, who are playing a game of Mexican stand off with MFC. What they own is also worth next to nothing but they know it is useful only to MFC so are holding out for a lot of money. Whereas, I presume we’re telling them it is worth nothing and to take a small sum or never see any money. They don’t give a toss as they’re sitting on loads of similar situations.

[George Dawes]

I'd be looking if we could do some sort of swap deal with the carpark land in-exchange for the community block and the gravel bit behind the Berlin Wall stand. straight swap.


I've got a layout map with trust areas coloured/highlighted with what we own and don't own, but it's hard work putting it up on here.

[marky No.1]

Part of the planning agreement was to have so many car parking spaces, not that sharks will worry too much about that

[George Dawes]

The Red areas are Morecambe's, the Blue areas what ever company they're called this week, but if you look, you could see how we could do a swap deal and get back complete ownership of the Berlin Wall Stand and Community Block.

week

[mrpotatohead]

''we own ? ''

sorry for laughing , but come on?

[morecambe boy]

Update on Club website now.

[George Dawes]

''we own ? ''

sorry for laughing , but come on?

it's safe with the Trust, Well so I'm led to believe off somebody who was very close to MFC but now chooses to keep his distance and one of the very few people who know this.

so I think I'll stay in the positive camp, for once

[Bare Grills]

Update on Club website now.

Not worth wasting data reading that, whatever is going on, they've agreed to keep out of the public domain so I'll throw in my thought.

Does someone think they can lure an ex director to buy the club. A timely coincidence?

http://www.travelweekly.co.uk/articles/ ... cquisition

[George Dawes]

Update on Club website now.

Not worth wasting data reading that, whatever is going on, they've agreed to keep out of the public domain so I'll throw in my thought.

Does someone think they can lure an ex director to buy the club. A timely coincidence?

http://www.travelweekly.co.uk/articles/ ... cquisition

interesting, could even move or build offices at the ground, like Andrew Pilley at Fleetwood.

[Christies Child]

Speculate as much as we like but quite rightly the Board are keeping everything in house.

[Bare Grills]

Speculate as much as we like but quite rightly the Board are keeping everything in house.

[Gone_Shrimping]

Update on Club website now.

Not worth wasting data reading that, whatever is going on, they've agreed to keep out of the public domain so I'll throw in my thought.

Does someone think they can lure an ex director to buy the club. A timely coincidence?

http://www.travelweekly.co.uk/articles/ ... cquisition

Maybe Geoff Hogg from Middlesbrough who claimed earlier this year to have made an offer for the club

[Freez]

If it is Hogg, he's a businessman, and everything he touches he develops, land, buildings etc etc.
But while he is wealthy, he's not minted and all he has seems to be tied up in stuff!!mmmmm