Therapist Posted February 7, 2009 Author Share Posted February 7, 2009 Six months on and a global financial crisis later is this saga any clearer? It's always been clear. sheep is going to be homeless. Fact. Link to comment Share on other sites More sharing options...
Martin_T Posted February 7, 2009 Share Posted February 7, 2009 Cent / Boom - Thanks once again for giving us the inside track. They won't be funding the venture alone, circa ?8m each between AFC and the Council, the balance coming from private finance etc. The way such a deal is generally structured (take the Ricoh arena as an example) is that the site should be planned to be an income generator outwith football, with Private backers and the council taking the benefits. The lead tenant - AFC - don't get access to these benefits, instead benefit from a peppercorn rent. Christ knows what the exact payback % and timelines are for this project - I guess thats what a fesibility study is all about, but generally a properly competently developed site generates substantial payback - Ricoh, Madjeski & Reebock are examples. As for private backers - don't be surprised if you see Messrs Milne and Gilbert muscle in on the scene. The payacks generally from these type of building projects are such that their type eventually get involved. The stadium will happen I am confident. Of more concern to us is the shower masquareding as a 1st team. Let us know of the developments as they happen! I've always treated Therapist's claims on Aberdeen's future with a strong degree of scepticism, but if the part in bold remains the case, then the Dons are well and truly goosed in the current climate. The amount of major construction projects that have been mothballed in the past few months due to private finance going belly up is staggering. That said, until Hearts are fully out of the financial woods, we are in no position to gloat. As far as I'm aware Aberdeen have met their staff costs punctually every payment date this season. Link to comment Share on other sites More sharing options...
Charlie-Brown Posted February 7, 2009 Share Posted February 7, 2009 Westfield Stadium Falkirk built & financed under a similar ownership model hasn't been without it's financial problems. Link to comment Share on other sites More sharing options...
topcat Posted February 7, 2009 Share Posted February 7, 2009 It's always been clear. sheep is going to be homeless. Fact. Just saying "Fact" doesn't actually make something true Given the ongoing collapse in housing prices is selling Pittodrie even an option for Aberdeen anymore? Link to comment Share on other sites More sharing options...
footieman Posted February 7, 2009 Share Posted February 7, 2009 Westfield Stadium Falkirk built & financed under a similar ownership model hasn't been without it's financial problems. Their new South Stand is about to be, if its not already been, started. Link to comment Share on other sites More sharing options...
Therapist Posted February 7, 2009 Author Share Posted February 7, 2009 Given the ongoing collapse in housing prices is selling Pittodrie even an option for Aberdeen anymore? They are contractually obliged to do it. Link to comment Share on other sites More sharing options...
jambojim52 Posted February 7, 2009 Share Posted February 7, 2009 Only 'possibly'? Not like you to start backtracking, is it? And of course, it might well be that by that time, a new owner is found to invest in the club. Clubs across the UK change ownerships regularly, and there's no reason why Aberdeen won't be another of them. Even someone with your many abilities can't predict the future - as much as you'd like to, of course. What happened to the change of ownership at Hearts? What happened to the fire sale? Have you asked your "mate" at the Herald, if he will print an appology to ALL the hearts fans he upset with his drivel? Link to comment Share on other sites More sharing options...
Drylaw Hearts Posted February 7, 2009 Share Posted February 7, 2009 They are contractually obliged to do it. Here we go again....................... Link to comment Share on other sites More sharing options...
Drylaw Hearts Posted February 7, 2009 Share Posted February 7, 2009 What happened to the change of ownership at Hearts?What happened to the fire sale? Have you asked your "mate" at the Herald, if he will print an appology to ALL the hearts fans he upset with his drivel? I don't know a single Hearts fan who gets upset at reading the newspapers. Link to comment Share on other sites More sharing options...
jambojim52 Posted February 7, 2009 Share Posted February 7, 2009 I don't know a single Hearts fan who gets upset at reading the newspapers. FFS you were one of them! Don't you remember the thread last December? Link to comment Share on other sites More sharing options...
topcat Posted February 7, 2009 Share Posted February 7, 2009 They are contractually obliged to do it. But is anybody contractually obliged to buy it? Link to comment Share on other sites More sharing options...
Charlie-Brown Posted February 7, 2009 Share Posted February 7, 2009 Their new South Stand is about to be, if its not already been, started. Yes it is however not without some severe financial and financing problems and several years delay - and that was mostly pre-credit crunch .... big dung heap should maybe consider problems experience at Falkirk before assuming the Dons stadium plans are fool-proof. Link to comment Share on other sites More sharing options...
Drylaw Hearts Posted February 7, 2009 Share Posted February 7, 2009 FFS you were one of them! Don't you remember the thread last December? I wasn't upset. And as I've said before.............. Only 2 players were subject to bids and we sold one of them. The bid for Driver was a derisory offer and was never going to be accepted - Coventry were chancing their arm. If concrete bids came in for the likes of Kingston, Zaliukas etc then who knows if the Club would have accepted them. You can't have a 'Fire Sale' if there are no buyers. Link to comment Share on other sites More sharing options...
jambojim52 Posted February 7, 2009 Share Posted February 7, 2009 I wasn't upset. And as I've said before.............. Only 2 players were subject to bids and we sold one of them. The bid for Driver was a derisory offer and was never going to be accepted - Coventry were chancing their arm. If concrete bids came in for the likes of Kingston, Zaliukas etc then who knows if the Club would have accepted them. You can't have a 'Fire Sale' if there are no buyers. I was refering to the thread last year when Shaun said there were buyers in the wings, and the Herald reported Hearts were in dire straights and would have to sell ALL there firtst team players.The thread was around 400 posts long, maybe more. A large number of posters were wailing and screaming about this DISASTER ,that never happened. Link to comment Share on other sites More sharing options...
Therapist Posted February 7, 2009 Author Share Posted February 7, 2009 Here we go again....................... For the hard of thinking, here's the situation. I really can't make it any simpler....... sheep's major shareholders - Gilbert and Wiggy - did not provide sufficient additional funding. This is in the public domain and is a fact. As a result sheep sought additional funding from HBOS. This is in the public domain and is a fact. This was provided under a contractual obligation that the football club and stadium would be split into separate companies, and the stadium would be sold by March 2011 in order to repay the bank debt. This deal was appoved at a shareholder EGM. This is in the public domain and is a fact. sheep's strategy was to sell Pit Tawdry, repay the bank and move to the mythical Community Stadium. Unfortunately for them, Aberdeen Council has discovered a massive hole in its finances, is being investigated by the Audit Commission, and has no money to spend on frivolous "nice to have" projects. The only thing that has happened has been a feasibility study that sheep financed because the council didn't have enough dosh to even do that! This is in the public domain and is a fact. Based on the above I'd wager the Community Stadium will not be ready by March 2011 and sheep will be in the brown stuff. Link to comment Share on other sites More sharing options...
davemclaren Posted February 7, 2009 Share Posted February 7, 2009 Based on the above I'd wager the Community Stadium will not be ready by March 2011 and sheep will be in the brown stuff. So that bit isn't fact? Link to comment Share on other sites More sharing options...
Cardiac Rucksack Posted February 7, 2009 Share Posted February 7, 2009 I wasn't upset. And as I've said before.............. Only 2 players were subject to bids and we sold one of them. The bid for Driver was a derisory offer and was never going to be accepted - Coventry were chancing their arm. If concrete bids came in for the likes of Kingston, Zaliukas etc then who knows if the Club would have accepted them. You can't have a 'Fire Sale' if there are no buyers. You are correct, but you would have taken from the papers in Decemeber that they were queued round passed the Tynie arms with offers. So maybe they were just **** stirring, probably to take the heat of the huns. Link to comment Share on other sites More sharing options...
jambojim52 Posted February 7, 2009 Share Posted February 7, 2009 Whether or not Aberdeen have a stadium is yet to be seen, but what will they do, IF it happens? Have the GFA not banned sharing staduims after the Murderwell/Gretna debacle? Link to comment Share on other sites More sharing options...
Therapist Posted February 7, 2009 Author Share Posted February 7, 2009 So that bit isn't fact? Give it a rest Dave. I'm trying to educate people here..... Link to comment Share on other sites More sharing options...
jambojim52 Posted February 7, 2009 Share Posted February 7, 2009 You are correct, but you would have taken from the papers in Decemeber that they were queued round passed the Tynie arms with offers. So maybe they were just **** stirring, probably to take the heat of the huns. One of my points SWF, is the fact, a certain journo that has deep Hearts roots was jumping on the bandwagon. He printed a story that he fabricated or simply cut and pasted someone elses drivel. He perpetuated a myth and upset many people on here. Link to comment Share on other sites More sharing options...
topcat Posted February 7, 2009 Share Posted February 7, 2009 I wasn't upset. And as I've said before.............. Only 2 players were subject to bids and we sold one of them. The bid for Driver was a derisory offer and was never going to be accepted - Coventry were chancing their arm. If concrete bids came in for the likes of Kingston, Zaliukas etc then who knows if the Club would have accepted them. You can't have a 'Fire Sale' if there are no buyers. The point of a 'fire sale' is that the seller is in sufficient distress that they have to accept offers that would be derisory under other circumstances. Link to comment Share on other sites More sharing options...
brownkg Posted February 7, 2009 Share Posted February 7, 2009 Give it a rest Dave. I'm trying to educate people here..... Altruism wasn't one of the qualities I had ascribed to you before this but it still leaves the conjecture re the community stadium Link to comment Share on other sites More sharing options...
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