Astute precis, Bets. Bates, like a lot of wealthy men, can shamelessly please poverty when it suits them. I'm reminded of one of my favourite phrases: "He had debts no honest man could repay".
Nigel. 2009/9/10 <[email protected]> > 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 > -- Mindbrix: Web design, building, e-commerce, promotion, consultancy... Happiness at Work Studios 1 Green Bank Wapping E1W 2PA [email protected] www.mindbrix.co.uk T:+44 20 7480 5638 M:+44 7905 311 352 Skype: ntbarber _______________________________________________ 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
