[ELTON 2020]

martatcross, on 26 July 2016 - 06:09 PM, said:

The report I have read states that Mr Allen wanted to get the burden of the council having stake in the ground so by paying off the loan he now completely has right to the stadium. Read into that what you will.

I suppose if he's put all the cash in he has a perfectly legitimate right to it - none of us can deny that.

[DIFH]

Maybe a sale can be affected now.

[dim view]

freelander2, on 26 July 2016 - 05:51 PM, said:

the latest DT article states that the council are in receipt of a payment of £861,551 from the football club.

Just for background...
History of council loan is :-
1. £200,000 in 2002 to assist with Administration.
2. £366,000 to pay creditors in 2 instalments (don't know when).
3. £434,000 on Stadium move.

4. £1000,000 total.

Repayment for items 1 and 2 capital and interest was made monthly.
The first charge was transferred from Saltergate to Proact.
The loans attracted a rate of 4% above base.

[SpireiteFitzy]

Town_Fan, on 27 July 2016 - 08:08 AM, said:

I think he's saying the council were taking the pee by fleecing the only decent thing left in chesterfield these days.

I'm glad the council are out of the equation. It was preposterous they had a hold over the club for a minimal loan that they chose to bleed the club dry with a high rate of interest. Council scum.

1. The council could have chosen to turn their backs on the club and let it fold instead of saving it. They had no obligation to do anything.

2. The club accepted said loan knowing full well all the stipulations attached to it. If they didn't like it they should have said no. Accepting a deal then trying to renege on it is a scumbag move.

3. This is a council who not only helped save this club, but also gave it very preferential treatment on the land on which the ground is built to help evolve it into the future. Hardly actions of scum

This post has been edited by SpireiteFitzy: 27 July 2016 - 06:03 PM

[Guest_freelander2_*]

dim view, on 27 July 2016 - 04:52 PM, said:

Just for background...
History of council loan is :-
1. £200,000 in 2002 to assist with Administration.
2. £366,000 to pay creditors in 2 instalments (don't know when).
3. £434,000 on Stadium move.

4. £1000,000 total.

Repayment for items 1 and 2 capital and interest was made monthly.
The first charge was transferred from Saltergate to Proact.
The loans attracted a rate of 4% above base.

You would have thought that the time to either repay the loan or renegotiate the terms would have been during 2009/10.

Are you sure it was 4% above the base rate as the current base rate is 0.5% and it's widely tipped to drop to 0.25% next month, whereas AC's press release confirms A&S funding attracts a rate of 5%?

Looking at some of the outstanding debentures, some unusual ones crop up:

10/06/10 - GB Building Solutions (Company that built the new stadium)
13/10/10 - GB Building Solutions

23/09/02 - Barrie Hubbard - £100,000
26/06/03 - Barrie Hubbard - £30,000
22/07/03 - Barrie Hubbard - £10,000
31/12/03 - Barrie Hubbard - £10,000
01/12/11 - Barrie Hubbard - £50,000

[60s 70s Spireite]

freelander2, on 27 July 2016 - 06:04 PM, said:

You would have thought that the time to either repay the loan or renegotiate the terms would have been during 2009/10.

Are you sure it was 4% above the base rate as the current base rate is 0.5% and it's widely tipped to drop to 0.25% next month, whereas AC's press release confirms A&S funding attracts a rate of 5%?

Looking at some of the outstanding debentures, some unusual ones crop up:

10/06/10 - GB Building Solutions (Company that built the new stadium)
13/10/10 - GB Building Solutions

23/09/02 - Barrie Hubbard - £100,000
26/06/03 - Barrie Hubbard - £30,000
22/07/03 - Barrie Hubbard - £10,000
31/12/03 - Barrie Hubbard - £10,000
01/12/11 - Barrie Hubbard - £50,000

Common thing: no one thinks to file the statement of satisfaction of a mortgage or charge.

[Town_Fan]

SpireiteFitzy, on 27 July 2016 - 06:02 PM, said:

1. The council could have chosen to turn their backs on the club and let it fold instead of saving it. They had no obligation to do anything.

2. The club accepted said loan knowing full well all the stipulations attached to it. If they didn't like it they should have said no. Accepting a deal then trying to renege on it is a scumbag move.

3. This is a council who not only helped save this club, but also gave it very preferential treatment on the land on which the ground is built to help evolve it into the future. Hardly actions of scum

The council are obligated to help the community of which a professional football team is a huge part, especially in a place like chesterfield that has sod all else of note.

The then owners had no way of paying the loan back and the council would have been happy for it to hang over CFC in perpetuity. Once DA had the ground built and improved the club and town the council should have been greatful and recognised the big improvements made.

Anyone know the total amount fleeced from a community club over the years by the council. How much profit have they made off someone else's work and money?

[Mr Mercury]

Town_Fan, on 27 July 2016 - 06:29 PM, said:

The council are obligated to help the community of which a professional football team is a huge part, especially in a place like chesterfield that has sod all else of note.

The then owners had no way of paying the loan back and the council would have been happy for it to hang over CFC in perpetuity. Once DA had the ground built and improved the club and town the council should have been greatful and recognised the big improvements made.

Anyone know the total amount fleeced from a community club over the years by the council. How much profit have they made off someone else's work and money?

Agreed, the total regeneration of that area of the town is almost totally due to the football clubs relocation.

[The Earl of Chesterfield]

Town_Fan, on 27 July 2016 - 06:29 PM, said:

The council are obligated to help the community of which a professional football team is a huge part, especially in a place like chesterfield that has sod all else of note.

The then owners had no way of paying the loan back and the council would have been happy for it to hang over CFC in perpetuity. Once DA had the ground built and improved the club and town the council should have been greatful and recognised the big improvements made.

Anyone know the total amount fleeced from a community club over the years by the council. How much profit have they made off someone else's work and money?

CBC facilitated access to funds when CFSS were struggling to save CFC.

They then loaned more than any individual when the Club needed it most yet demanded no greater returns than Board members and no place on that Board.

They then placed a football stadium on the former Dema site in the local plan thereby obliging any developer to include it.

They were then instrumental in negotiations between CFC and Tesco which led to the stadium footprint being prepared and given to CFC for free.

They then did everything possible to ensure the smooth passage of the stadium plans through unavoidable red tape.

They then loaned more money to assist the stadium build.

They've since made no more demands upon CFC than any other business in the area.

CBC have done far more than many local councils to support their resident football club - just look at the complaints our little neighbours level at their borough council - and their loans could always be described as 'friendly'.

PS: I could sleep better at nights when a body accountable to the people of Chesterfield had first call on the ground than an individual with no historical attachment to our club.

[azul]

MDCCCLXVI, on 28 July 2016 - 05:32 PM, said:

CBC facilitated access to funds when CFSS were struggling to save CFC.

They then loaned more than any individual when the Club needed it most yet demanded no greater returns than Board members and no place on that Board.

They then placed a football stadium on the former Dema site in the local plan thereby obliging any developer to include it.

They were then instrumental in negotiations between CFC and Tesco which led to the stadium footprint being prepared and given to CFC for free.

They then did everything possible to ensure the smooth passage of the stadium plans through unavoidable red tape.

They then loaned more money to assist the stadium build.

They've since made no more demands upon CFC than any other business in the area.

CBC have done far more than many local councils to support their resident football club - just look at the complaints our little neighbours level at their borough council - and their loans could always be described as 'friendly'.

PS: I could sleep better at nights when a body accountable to the people of Chesterfield had first call on the ground than an individual with no historical attachment to our club.

Don't argue with this guy. He lives in London (probably one of the North London elite I keep hearing about ) and looks down on everything that is north of the Watford Gap.

His support of CFC is probably the only thing that gives him any identity. Really really sad

Oh and I used to live in the south so I know what I'm talking about. I saved myself though, before it was too late

This post has been edited by azul: 28 July 2016 - 07:14 PM

[Ernie Ernie Ernie]

Mr Mercury, on 27 July 2016 - 09:25 PM, said:

Agreed, the total regeneration of that area of the town is almost totally due to the football clubs relocation.

Apart from the fact that the regeneration of the area didn't come as an after thought following the stadium build. Parts of the regeneration had already started and the stadium and the rest of the surrounding area was part of the local plan.

We can call the council for a lot of things but on this they did well.

[Johnnyspireite7]

Ernie Ernie Ernie, on 28 July 2016 - 08:17 PM, said:

Apart from the fact that the regeneration of the area didn't come as an after thought following the stadium build. Parts of the regeneration had already started and the stadium and the rest of the surrounding area was part of the local plan.

We can call the council for a lot of things but on this they did well.

It's to be noted that the council at the time was a different colour to the current one. I doubt it would've got through planning if we had the lot we've got in now!

[The Earl of Chesterfield]

Johnnyspireite7, on 28 July 2016 - 08:22 PM, said:

It's to be noted that the council at the time was a different colour to the current one. I doubt it would've got through planning if we had the lot we've got in now!

My previous post covers periods when both Labour and the Lib Dems had control.

[Ernie Ernie Ernie]

Johnnyspireite7, on 28 July 2016 - 08:22 PM, said:

It's to be noted that the council at the time was a different colour to the current one. I doubt it would've got through planning if we had the lot we've got in now!

Doesn't matter what colour is in power the council is duty bound to have a local plan. The ease of doing it was consolidated in the Localism Act 2011.

Whilst they can control what goes in the plan, each council has to achieve specific objectives in the regeneration process.

[azul]

Johnnyspireite7, on 28 July 2016 - 08:22 PM, said:

It's to be noted that the council at the time was a different colour to the current one. I doubt it would've got through planning if we had the lot we've got in now!

Guff

[Johnnyspireite7]

azul, on 28 July 2016 - 09:47 PM, said:

Guff

They blocked it at every turn before when we tried to get to Wheeldon Mill!

[Paul Fisher]

Johnnyspireite7, on 29 July 2016 - 06:42 AM, said:

They blocked it at every turn before when we tried to get to Wheeldon Mill!

Maybe they saw the bigger picture.

[spireitewolf]

newbold ken said:

1469376696[/url]' post='1228630']
Question is why wait til now though- perhaps he's realised the council were never going to write it off .

If DA wanted council to write it off ,why don't DA write it off Just wondered ,!!

[azul]

spireitewolf, on 29 July 2016 - 08:43 AM, said:

If DA wanted council to write it off ,why don't DA write it off Just wondered ,!!

Yorkshireman's motto...


And if ever tha does owt fa nowt – Do it fer theesen

[azul]

Mr Mercury, on 27 July 2016 - 09:25 PM, said:

Agreed, the total regeneration of that area of the town is almost totally due to the football clubs relocation.

Can you explain where this regeneration is - it looked pretty similar in 2010

Or were you being sarcastic