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Bristol R*vers dustbin thread


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2 minutes ago, wendyredredrobin said:

Some things don't seem to add up here either, for example, how come they can sell the Mem, which is mortgaged to the hilt and still have enough to buy another pice of land and build a stadium on it?  Surely there cannot be that much difference in the value of the two plots of land. Is someone else paying as usual?

That's how I understood it, they sell the mem and get debt (and ground) free.

The builder developing the Fruit Market then incorporates a stadium as part of the development and the fewers rent it to play in.

I can't imagine the builder would go over the top though. Bog standard off-the-shelf design, and if the reports of space available etc. are correct then not much more than 10,000 capacity.

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20 minutes ago, wendyredredrobin said:

Some things don't seem to add up here either, for example, how come they can sell the Mem, which is mortgaged to the hilt and still have enough to buy another pice of land and build a stadium on it?  Surely there cannot be that much difference in the value of the two plots of land. Is someone else paying as usual?


We may find that Hani Al-Quidi is cleverly extricating himself and his family from Rovers without Wael Al- Quidi having any idea of what is going on.  And the club renting a stadium at the Fruit Market will  be under completely different ownership.

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30 minutes ago, richwwtk said:

I can't imagine the builder would go over the top though. Bog standard off-the-shelf design, and if the reports of space available etc. are correct then not much more than 10,000 capacity.

Well that's more than enough for them.

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So who can fill in the blanks?

Sell Mem at £A

Repay debt at £B

Buy Fruit Market at £C

Build Stdium at £D

Balance to be funded £A-£B-£C-£D=£E

£E sounds like a lot of money to me and then who wants to tent it when the Sags drop out of the league again and can't afford to pay it (assuming £E is sufficient to pay the rent for a few years as they will still be losing money every week with the crowds they are getting 

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30 minutes ago, richwwtk said:

That's how I understood it, they sell the mem and get debt (and ground) free.

The builder developing the Fruit Market then incorporates a stadium as part of the development and the fewers rent it to play in.

I can't imagine the builder would go over the top though. Bog standard off-the-shelf design, and if the reports of space available etc. are correct then not much more than 10,000 capacity.

 

Yes, that's my understanding with a long lease at low rent being granted upon the ground.

If you actually stand back and look at it though that's really by the way; the only advantage for the Rovers FC over renting at say Twerton or Forest Green is the location.

The meat of the deal is that Dwane Sports is selling the Memorial Stadium and surrounding land and therefore recouping the money it has loaned to the club.

So under the Al Qadi stewardship they gave gone from ?£6m in debt to mostly third parties to ?£26m in debt to the Al Qadi family and that debt is now going to be cleared by selling off the ground.

Or to put it another way: the major achievement of the current owners is to have cost the club their main asset.

And yet many on their site think this "move" a good thing because it's easier to get to the fruit market on a matchday.

Silly sods.

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26 minutes ago, wendyredredrobin said:

So who can fill in the blanks?

Sell Mem at £A                Via an Administrator

Repay debt at £B           £10 million to satisfy Dwane Sports charge.    Circa  £16 million lost and        charged to W Al-Quidi’s “ family account”

Buy Fruit Market at £C     PLC

Build Stdium at £D           PLC.  Long term lease to NewCo BRFC

Balance to be funded £A-£B-£C-£D=£E

£E sounds like a lot of money to me and then who wants to tent it when the Sags drop out of the league again and can't afford to pay it (assuming £E is sufficient to pay the rent for a few years as they will still be losing money every week with the crowds they are getting 


This is the whisper of what could happen gleaned from my friend Ernst and his brother Young

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3 hours ago, wendyredredrobin said:

Anyone know what this shiny new, probably never to be built, stadium will be called?  The Fruit Market Stadium, The Stadium of Fruits or what?  Perhaps some of you can come up with some suggestions for them.

Not sure what they’ll call it, but they’ve got a ready made song to go with it 

 

 

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6 minutes ago, Coombsy said:

Don’t look good for the club 

only one winner here 

I beg to differ Coombsy.

The winners would be Rovers supporters who would have learned a valuable lesson about delusion and blind faith.

A fresh start in a new realistically sized rented stadium with no debt and capable owners would be just what the doctor ordered. 

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12 minutes ago, bert tann said:

I beg to differ Coombsy.

The winners would be Rovers supporters who would have learned a valuable lesson about delusion and blind faith.

A fresh start in a new realistically sized rented stadium with no debt and capable owners would be just what the doctor ordered. 

What playing in the Southern Premier South ???

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2 hours ago, wendyredredrobin said:

So who can fill in the blanks?

Sell Mem at £A

Repay debt at £B

Buy Fruit Market at £C

Build Stdium at £D

Balance to be funded £A-£B-£C-£D=£E

£E sounds like a lot of money to me and then who wants to tent it when the Sags drop out of the league again and can't afford to pay it (assuming £E is sufficient to pay the rent for a few years as they will still be losing money every week with the crowds they are getting 

I see what you did there.

Very clever.

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14 minutes ago, bert tann said:


A lot rests on the timing of the points deduction which is something Mr Hani Al-Quidi would have to accept.

No way are they heading in to admin, Wally wouldn't be shelling out for away travel and making up with the supporters club if he was about to run away.

(Might be wrong, but I would be very surprised).

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Even a modest stadium of say 20,000 would cost at least £50m. How are the developers going to recoup that money? They'd have to charge a hefty rent to cover the outlay and interest on such a figure. Not sure what the normal return figure and period is for commercial deals, I believe they'd be looking at paying off the build costs in less than 50 years, That's £1m per year plus interest which would be charged to their tenants.

The stadium outlets would be in their name and any other events staged there, so Rovers would be looking at matchday income only. The words white elephant spring to mind.

On another point, How many dwellings could they fit on 11 acres, depending on density/height, I'd wager several hundred. And as we're still being told we have a housing crisis in Bristol, wouldn't it be more profitable to build housing. The site at Totterdown bridge is about one third of the fruit market, at a guess, they're building 150 dwellings there. So if there were say 400 dwellings, 25% affordable and 300 at £200k that's £60m, pocketed straight away less development costs. This is where my fears of behind the scenes negotiations are taking place with Marvin's Rovers supporting deputy Mayor to give the developers a profit from the outset. I expect there's big wedges of council owned land in the form of riverside warehousing and council yards, being lined up to be transferred to the developing company.

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55 minutes ago, Rich said:

Even a modest stadium of say 20,000 would cost at least £50m. How are the developers going to recoup that money? They'd have to charge a hefty rent to cover the outlay and interest on such a figure. Not sure what the normal return figure and period is for commercial deals, I believe they'd be looking at paying off the build costs in less than 50 years, That's £1m per year plus interest which would be charged to their tenants.

The stadium outlets would be in their name and any other events staged there, so Rovers would be looking at matchday income only. The words white elephant spring to mind.

On another point, How many dwellings could they fit on 11 acres, depending on density/height, I'd wager several hundred. And as we're still being told we have a housing crisis in Bristol, wouldn't it be more profitable to build housing. The site at Totterdown bridge is about one third of the fruit market, at a guess, they're building 150 dwellings there. So if there were say 400 dwellings, 25% affordable and 300 at £200k that's £60m, pocketed straight away less development costs. This is where my fears of behind the scenes negotiations are taking place with Marvin's Rovers supporting deputy Mayor to give the developers a profit from the outset. I expect there's big wedges of council owned land in the form of riverside warehousing and council yards, being lined up to be transferred to the developing company.

The other point to consider, is life expectancy.

I would assume there is a 25 year life on most stands, before they get to the realms of maintenance vs replacement.

So it needs to be paid off ASAP before it becomes a liability. Number of ways you could do that, a non maintenance lease buta lease long enough that it generates a return, keeping revenue (or part of it) the stadium generates, or only offering it to a tenant on an as-needed basis, meaning they venue reverts back to a holding company on a non match day.

If there is high density residential, then they might struggle to get a late night/frequent evening use license, other than football and weekend evenings.

Who know however!

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