BartonRaz wrote:This covenant stuff is totally lost on me so i'm not going to try and pretend I know what i'm talking about but could someone clarify one thing for me - Does the covenant mean football HAS to be played at NP until 2015, or does NP just have to be AVAILABLE for football until 2015...?
I don't know all the ins and outs, but there is some confusion here between the covenant on the land and the claw back clause.
The covenant on the land was, I believe, for 125 years and began when Griggs bought Nene Park back in 1992. It states that the land must be used for football, or something along those lines. If the Ploppies go bust at Nene Park then KC et al may be able to argue that they have tried to keep football on the land but haven't been successful and therefore the covenant should be removed. I don't know if this is possible though, or who they would have to convince.
The claw back clause, which runs until 2015, was put in place by the Griggs Group in order to protect the land when it was handed to the Supporters' Trust. It states that if the land is developed in any way up to 2015 then, I think, a sum of half of the value of the land shall be paid to the Griggs Group.