Prospects car park - closed

[kentblues]

Here's a scenario that I consider quite possible

- Sainsbury are pulling out although an announcement is agreed to follow certain other events (giving Sainsbury are exiting the contract- breach with penalties- that would give the club some influence about how news is released and timing)
- As its Sainsbury pulling out they will write off all funds previously advanced and this represents compensation for the breach.
- Ron still owns the ground and is X millions back in pocket as a whole bunch of accumulated debt is now written off.
- Meanwhile the value of Roots Hall (and indeed all of his landbank) has significantly increased in value and its all his again.
- Now he has exited the accumulated debt and has an asset (Roots Hall) of increased value his access to funding is enhanced as he has far more collateral at the very time that access to funding is easier and at far lower cost (as per Ron's statement).
- If the club knew about the Sainsbury decision some time ago then in the background no doubt plan B will have been actively pursued for some time also.
- Potential plan B: Lidl to build a store on Roots Hall (this may or may not change what is being built- store may be smaller and housing element bigger and this may or may not mean delay). However with all that debt written off, and increase in land/property values the numbers now look much better.
- stadium will not be built by Lidl but by Ron who with greater collateral and access to cheaper funds no longer needs a partner.

 

[Rattus Norvegicus]

Interesting post above - strangely coherent and without the usual rantings one sees! :omg: :thumbsup:

I think the availability of finance is a key factor. That all dried up in 2008 and now 6 years on things are looking much better.

Couple that with the housing market coming back and suddenly you have a much different business environment.

 

[Pubey]

Interesting post above - strangely coherent and without the usual rantings one sees! :omg: :thumbsup:

I think the availability of finance is a key factor. That all dried up in 2008 and now 6 years on things are looking much better.

Couple that with the housing market coming back and suddenly you have a much different business environment.

Absolutely.

While it's still frustrating that we're in the dark, I'm pleased that what at first seemed like bad news with Sainos pulling out could in fact be quite good news. We'll have to wait and see what it is...

 

[OldBlueLady]

Maybe he's putting the soccer dome on that new plot of land on Kiln Road that Martin Dawn recently bought - wondered what it was for!

 

[Fairport]

As some have alluded to it could be that Ron has struck lucky with Saintsbury's writing off all of the borrowings!

 

[Pubey]

As some have alluded to it could be that Ron has struck lucky with Saintsbury's writing off all of the borrowings!

I'd have been very worried if Ron hadn't protected himself against this eventuality. At least to cover the advances, and in reality probably a bit more to cover his expenses and maybe a little bonus too. At least we don't seem to have come out of the divorce in a worse situation than we entered (relatively speaking anyway).

 

[Rob1920]

Havent read the whole thread although encouraged by the later posts which seem to put a more positive spin on things. However, whether all this is good or bad, what I don't understand is how can Prospects sell to someone else if there's a CPO on the site? And why havent the council used the CPO? Obviously I have no knowledge of these things but I am somewhat confused about what the point of a CPO is if its not going to be used..

 

[Jim Levenstein]

WTF is going on

 

[Mick]

what I don't understand is how can Prospects sell to someone else if there's a CPO on the site? .

There isn't. There was merely an agreement in principle by the council to grant one if necessary.

 

[Romford Shrimper]

https://twitter.com/cjphillips1982/status/540549671111098368

 

[Romford Shrimper]

Chris Phillips just tweeted "Some huge Blues stories in tomorrow's echo."

 

[Carry On Shrimping]

Chris Phillips just tweeted "Some huge Blues stories in tomorrow's echo."

Michael Ricketts is returning?

 

[RobM]

Michael Ricketts is returning?

Not THAT big, for certain.

 

[chapperzUK]

Chris Phillips just tweeted "Some huge Blues stories in tomorrow's echo."

Work actually did start in late spring, but on the wrong planet. Heard it here first!

 

[Jam_Man]

Chris Phillips just tweeted "Some huge Blues stories in tomorrow's echo."

As much as I respect Chris Phillips he has built stories up before that turned out to be anti-climatic.

I'll not get too excited just yet.

Probably just ground sharing with Dagenham.

 

[LCBB]

Chris Phillips just tweeted "Some huge Blues stories in tomorrow's echo."

Official, Sainsburys pull out .:angry:

 

[leeblue]

Chris Phillips just tweeted lidl moving into prospects

 

[Smiffy]

Yep. No shock there. Lidl now the new owners of the Prospects site.

 

[Shrimper]

So, what now?

 

[Kestrel]

not strictly true . . . his tweet doesn't state that they have bought it, just set to move in

call me cynical, but I just wonder it Mr Bates could be using this as a ploy to increase the price