The unofficial AFC Rushden & Diamonds messageboard

Whilst nobody wants to see RDFC go to the wall, my concern when it comes right down to it is that the club is a private company in private ownership acquired, mainly as aresult of the site it occupies, by Keith Cousins as a long-term investment.
Partly as a result of insufficient support and partly as a result of the recent poor marketing of the club and the available facilities under KC, the club has hit very hard times. It will also have been as a means of generating additional income for KC and also as a means of reducing losses to KC that he will have leased the club to the Beasants – the course of action which has seemingly landed RDFC in the mess it now finds itself.
KC quoted on another thread from yesterdays NLP seems to be suggesting that he is relying on the fans to both plot a rescue plan for the club and, one way or another, to put together the necessary finance package to ensure the club’s survival. That despite the fact that if those efforts are successful, the club and the NP facilities will still remain under KC’s ownership and available for him to develop and dispose of in the future – as he did in his arrangements with the Beasants – when he judges the time to be right.
That being the case and whilst I am grateful to KC for his investment and past support, to be honest I’m a bit less than impressed when he is quoted as saying that he will “help out in his spare time” with the fans attempts to save what is after all in terms of actual ownership his asset, his club and his facilities.
Surely the sensible option would be to have, at the very least, a business plan in place which would allow any money raised as a result of the fans ‘save the club’ fundraising efforts to be used to establish a phoenix RDFC - if necessary away from NP if a realistic and workable rental / leasing / ground-share agreement cannot be reached with KC - so leaving KC free to develop Nene Park in whatever way he can. I would wish him well.

Good post, these things need to be clarified on Tuesday, I think there are a number of reservations from people for a) if the club is saved with the beasts still involved, b) if the club is saved without the beasts, it's a good point that everyone could put all this effort in to keep a revenue stream open for KC and then the ground can be redeveloped after the covenant runs out.
I am also grateful for what KC had done in the past however he does have an obligation to the current situation for his ongoing investment which is the ground.
The clearly isn't an easy answer, there are a lot more cleverer people than me who haven't managed to get it to work, but we must be able to find a solution which cuts our cloth accordingly, or increases the size of the cloth!

bozzer wrote:......and then the ground can be redeveloped after the covenant runs out.

Do you mean the 2013 date? I understood that there was a covenant in place that protected the stadium, from redevelopment, for at least 100 years. This needs clarifying with KC as soon as possible.

If that's the case that's better news, yes it needs to be clarified

bozzer wrote:If that's the case that's better news, yes it needs to be clarified

Yes. IIRC the 2013 date refers to a deadline concerning a future owner (KC) wishing to sell or develop any of the 22 acres, surrounding the stadium. If any land is sold or developed before the expiry of the deadline then this 'triggers' a payment to Griggs. Haven't seen the precise wording of this clause this but I guess KC knows the exact situation.

Chammie wrote:Surely the sensible option would be to have, at the very least, a business plan in place which would allow any money raised as a result of the fans ‘save the club’ fundraising efforts to be used to establish a phoenix RDFC - if necessary away from NP if a realistic and workable rental / leasing / ground-share agreement cannot be reached with KC - so leaving KC free to develop Nene Park in whatever way he can. I would wish him well.

I wasn't actually thinking so much of development in the sense of building works, more a case of KC, in that situation, creating other forms of income through the use of the existing facilities without the presence or involvement of RDFC - if he can.
My central point and concern is simply my belief that supporters, or "customers" of KC's RDFC / Nene Park company should not be expected to fundraise and pay off debts incurred either by KC himself or by leaseholders he has introduced to a club which those supporters do not - and will not - either own or control.

Can those of use who are quoting the "2013" date remind me where you got that information from, as in the last Trust AGM the date given was 2015 for expiry of the clawback - and looking back through my files I've found the following quote from the Griggs Group statement back in early 2007.

"A “claw-back” of 50% of the value of any disposal proceeds was included to ensure that in the event of a liquidation in the near future (the “claw-back” is in place for 10 years from Completion, that is until 2015), the Griggs’ Group directors would have been seen to act in the best interests of the Company for which they are responsible and to ensure the agreement of the Griggs’ Group bankers."

Thanks for clearing that up, Tony. I had the 2015 in the back of mind :oops: but so many people have been quoting the 2013 date recently that I thought they must be right.