Tim Leslie wrote:
Anyone seen this? I don't pretend to fully understand it all! But looks like some agreement is ongoing for Thorpe Arch which means the council are getting involved, but not loaning us money (So, does this mean the council own the training complex should all this go through?).
It was never dead in the water as at the meeting of the 26th of August the council agreed to continue its dialogue with LUFC. I agree the Council had no intention of lending LUFC any money (the football club must have thought it could get the same deal as YCC, which was never on the cards as that was a completely different animal). The Council did however say that a buyout and leaseback was a possibility.
Discussions between LUFC and the Council have taken place and the things which the Council would require in terms of financial security and operations were taken on board by the club.
On the 26th of August the committee (Executive Board or "Cabinet") said that there should be an update well before the 10th of October which is LUFC's deadline.
The report proposes an immediate independent valuation of the facility with a view to purchase and lease back on commercial terms. The report also notes that community access and outreach might be just some of the gain required by the council from any deal.
The bottom line is that Bates can't get the money to buy back the facility, he went to the Council cap in hand asking for a loan and was told no but that they would look at other avenues.
The Council has a wider remit in terms of what benefits the area gets from Capital Expenditure than say a straight forward lender. It takes into account the extra benefits possible - Leeds as a host city for football tournaments like the World Cup etc..
It wouldn't be unusual for a Council to be involved in such a scheme. What is unusual is that given the perceived financial stability of Leeds United - player sales, income to expenditure ratios and its well publicised indebtedness post the administration fiasco - that the club has not made inroads into burdens like the rent on TA by easing itself out of the debt sooner.
If I was a councillor I would want to know what monies had gone out of the club post the administration and where they had gone before I did anything to help what is in effect being run as a completely private business. Bates can't have it both ways, off shore secrecy on the one hand with a demand for public money being thrust in front of the council with the other.
As I see it, the council in Leeds is never going to set the heather on fire with an innovative communitaire approach to such an issue, if the facility was placed in arms length community ownership it would unlock all sorts of financial potential. And more importantly it could have paved the way for a similar form of ownership of ER. That way the two key facilities for football in the city could be removed from the clutches of speculatory activity by those only interested in vainly imagined profit!
I dearly hope the Council don't cock it up but then, if you sup with the devil................
Betty _______________________________________________ the Leeds List is an unmoderated mailing list and the list administrators accept no liability for the personal views and opinions of contributors. Leedslist mailing list [email protected] http://list.zetnet.co.uk/mailman/listinfo/leedslist http://www.worldnet.org.uk WorldNET2009
