bedforddiamond wrote:£250k pa rent, plus all the other added expenses of running a football club, did the beezants really have a business plan to run OUR club?
My thoughts entirely. Back in November did either Cousins or the Beasants have a plan how the Club could suddenly, mid-season, find a further £250k pa to meet that demand. Surely they all must have known that the PB Devs idea had no chance of generating revenue in the short term, let alone the medium term. Add to that the indications the club was already struggling with the finances and it's difficult to understand how these people thought it might fly.
If we are wound up we might have to wait until the analysts that pick over the bones give us their opinions what the real plans of each of those parties were.
diamond mad wrote:I can confirm the Beasants were paying rent of £250k per annum
That's £4800 a week. Was that for PBDevs or R & DFC or a combination ? A little over optimistic from KC there is appears ? ;)
Surely it would have to be for everything in the stadium, plus the Car Boot "land" - otherwise its even more unrealistic. Either way, it's a new cost that couldn't have been budgeted for at the start of the season.
Don't forget that the Club was apparently in an agreement to pay Peter Wilson, the owner of the S&E Centre, a further £50k a year to hire this facility plus an ongoing repair and maintenance obligation in addition to KC's rent.
I'm not a business man but such an agreement on the SBE would have set alarm bells ringing, the building is leaking, the gym floor is dangerous, the AWP fence is knackered, the astroturf is past its best.......surely they must have looked at it - why would anyone agree to such a clause unless they lacked experience!
Stalin wrote:
If they go out of business tomorrow, KC can do what he wants with the ground, including knocking it down.
Not correct. The Local Authority and Irthlingborough Town Council would have a big say and need to approve whatever KC might propose for Nene Park if football ceased to played in the stadium, quite apart from the detailed wording in any covenants currently in place.
Trek wrote:Don't forget that the Club was apparently in an agreement to pay Peter Wilson, the owner of the S&E Centre, a further £50k a year to hire this facility plus an ongoing repair and maintenance obligation in addition to KC's rent.
I'd be amazed if there was a clause to upkeep the buildings on that lease agreement. That's usually the landlord's responsibility. Internal upkeep maybe, but external repairs ? Sounds odd.
Personally I'm not sure there are any covenants currently in place, I know it's been mentioned here before but I have heard differently.
Dinky Diamond wrote:I'm not a business man but such an agreement on the SBE would have set alarm bells ringing, the building is leaking, the gym floor is dangerous, the AWP fence is knackered, the astroturf is past its best.......surely they must have looked at it - why would anyone agree to such a clause unless they lacked experience!
I think that is a question for the Supporters Trust to answer, who would have entered in such an agreement back in 2005, when Max was forced to sell the S&E centre to Peter Wilson.
In response to TOD, £125k was mentioned at the fans forum chaired by KC and I did notice that bargeboard cladding is missing from the sports hall gable facing Pitch 2 although I've never been inside to see what needs doing.
Trek wrote:Don't forget that the Club was apparently in an agreement to pay Peter Wilson, the owner of the S&E Centre, a further £50k a year to hire this facility plus an ongoing repair and maintenance obligation in addition to KC's rent.
I'd be amazed if there was a clause to upkeep the buildings on that lease agreement. That's usually the landlord's responsibility. Internal upkeep maybe, but external repairs ? Sounds odd.
Personally I'm not sure there are any covenants currently in place, I know it's been mentioned here before but I have heard differently.
That would put a hugely different complexion on things if it were the case. I've seen lots of specific correspondence about the covenants from the time the Trust handed over the assets to KC, but I guess there might have been legal work that has gone on since. I'm surprised that the current Trust Board would have been mentioning them in the past few weeks though.
Two of Diamonds wrote:
Personally I'm not sure there are any covenants currently in place, I know it's been mentioned here before but I have heard differently.
I understood that there was a covenant protecting the stadium for sporting purposes and this has been mentioned many times. In fact, TOD, you have alluded in the past to Irtlingborough Diamonds Trust having an interest in the area of land covered by the pitch and I have always been interested to know how how this Trust have acquired a fund of money. Perhaps a question for Tony Jones?
