City Ben Posted April 17, 2009 Report Share Posted April 17, 2009 Afternoon all Just thought I would pass on this tit bit. Reading the Financial Times' Alphaville, as I am often interested to do , I saw this re SL: http://ftalphaville.ft.com/blog/2009/04/17...10/markets-live About 2/3 down. I can't copy the text, but it is re Lansdown selling a significant number of shares in Hargreaves Lansdown. When a director of a public company does this they often have to release a statement explaining why they've done it (so that the market doesn't get jittery about the prospects of the company). His says "monies released from this sale will be used to fund private projects including the proposed new stadium for BCFC". He's sold 15m shares (he will keep hold of 132m, fact fans). Opening price this morning was £2.23, so that's a bit north of £30m he's realised. If he's going to put that sort of money in to the stadium then I think that we are going to have to roll up our sleeves and prepare to get very very grateful. HL shares currently down 6%, presumably driven by this news. I am such a geek. Link to comment Share on other sites More sharing options...
Riaz Posted April 17, 2009 Report Share Posted April 17, 2009 Very Interesting Ben! Link to comment Share on other sites More sharing options...
internetjef Posted April 17, 2009 Report Share Posted April 17, 2009 great spot, lets hope the majority is coming to the stadium and no these 'other projects' I wouldnt read to much into the timing though other than hes prob been looking to do it for a while but was waiting for share price to recover further. great news Link to comment Share on other sites More sharing options...
Ryskip Posted April 17, 2009 Report Share Posted April 17, 2009 If SL pulls this off he will truely be a City Legend - in the same category as Atyeo, Dicks, Wedlock, Tinnion and alike, when you see so many 'big' clubs failing it's very reassuring to know we have such a level headed man in charge! Link to comment Share on other sites More sharing options...
zippycar Posted April 17, 2009 Report Share Posted April 17, 2009 City Ben you beat me to it. More info from Citywire Citywire Link to comment Share on other sites More sharing options...
PhatWill Posted April 17, 2009 Report Share Posted April 17, 2009 Very interesting, I assume he'll loan most of the money? I think we will stand to make a fair bit from the sale of the current Ashton Gate site as well. Link to comment Share on other sites More sharing options...
City Ben Posted April 17, 2009 Author Report Share Posted April 17, 2009 This is complete conjecture, but it wouldn't surprise me if he retained a stake in the ground, rather than loaning cash to the football club. I said a while back that we should possibly prepare ourselves for the idea that BCFC may not own our new ground in the way we do Ashton Gate. How would people feel if the new stadium was not ours, but was owned by a company which managed a mixed use leisure/housing development? We would have a very long term lease at a completely immaterial rent. ie saves us a fortune each year on rent/loan repayments, but we don't own the ground. Could happen. From what I hear, SL has bought up a huge swathe of land around the site for the new ground. There is a chance that this might be given planning permission for new homes/entertainment/offices, in which case SL makes untold amounts of money. On the other point, I guess PhatWill is right: I should jolly well hope that we'd make a shed load of cash from the sale of AG. It's a big plot of land in a decent position. A lot will depend on timing/ housing market etc. Also our approach - do we develop it ourselves, as Arsenal have done with Highbury, or sell it to a developer? Doing it ourselves has greater potential return, but also greater risk - as Arsenal are currently finding out with a large number of devaluing, unsold flats... and a loan which needs cash from those flats in order to be repaid. Clearly I think it should be kept and developed in to some sort of shrine... Link to comment Share on other sites More sharing options...
simon uk Posted April 17, 2009 Report Share Posted April 17, 2009 my colleague just had this flash up on his email as well, SL is the man! I wonder what the land value of AG is worth? If there is the potential for planning permission on the rest of the land owned by SL including leisure developments that will dwarf the value of the shares sold. It also leaves him with a residual £250 million in shares and presumably other assets such as the land owned in ashton vale which is to be developed, NICE! Link to comment Share on other sites More sharing options...
redsapper Posted April 17, 2009 Report Share Posted April 17, 2009 With other clubs not being able to get their funding sorted out other's are are shelfing there plans. It appers that SL is going to bank roll the project and if he make a few quid then great! Link to comment Share on other sites More sharing options...
Hillzider Posted April 17, 2009 Report Share Posted April 17, 2009 Had a good chat with the Stadium Project team at the recent open evening and he made it very clear that Steve Lansdown is very much the driving force for getting the new stadium done. I questioned about potential problems with stadium funding if the current financial crisis stopped the developments around the Stadium going ahead. His answer was if there was a problem Steve Lansdown would help fund the Stadium and get his money back in the future when any development around the stadium eventually goes ahead. Looks like the selling of shares may be to fund this. Link to comment Share on other sites More sharing options...
bully Posted April 17, 2009 Report Share Posted April 17, 2009 This is complete conjecture, but it wouldn't surprise me if he retained a stake in the ground, rather than loaning cash to the football club. I said a while back that we should possibly prepare ourselves for the idea that BCFC may not own our new ground in the way we do Ashton Gate. How would people feel if the new stadium was not ours, but was owned by a company which managed a mixed use leisure/housing development? We would have a very long term lease at a completely immaterial rent. ie saves us a fortune each year on rent/loan repayments, but we don't own the ground. Could happen. From what I hear, SL has bought up a huge swathe of land around the site for the new ground. There is a chance that this might be given planning permission for new homes/entertainment/offices, in which case SL makes untold amounts of money. On the other point, I guess PhatWill is right: I should jolly well hope that we'd make a shed load of cash from the sale of AG. It's a big plot of land in a decent position. A lot will depend on timing/ housing market etc. Also our approach - do we develop it ourselves, as Arsenal have done with Highbury, or sell it to a developer? Doing it ourselves has greater potential return, but also greater risk - as Arsenal are currently finding out with a large number of devaluing, unsold flats... and a loan which needs cash from those flats in order to be repaid. Fair conjecture Ben - no ownership = no long term debt by avoiding the funding, and its hard to imagine the person most responsible for City'simproved fortunes doing anything other than entering into a very long term lease with BCFC at either a fixed low rent, or maybe one based upon turnover - ie, everyone gains if we are in the Prem, and risk minimised if revenue decreases for any reason. AG gives us a real say in the financial structure, and I would trust SL to handle it straight as a die - maybe some spin off revenue from non football activities, although it wouldn't be reasonable to expect the major share. Link to comment Share on other sites More sharing options...
Guest Posted April 17, 2009 Report Share Posted April 17, 2009 23 Million shares @ £2.045 per share = £47M. I wonder what he buys his wife for her birthday! His remaining shares of 117M are worth about £234M. £30M for the stadium? £17M for players next season? Link to comment Share on other sites More sharing options...
Crackers Corner Posted April 17, 2009 Report Share Posted April 17, 2009 23 Million shares @ £2.045 per share = £47M. I wonder what he buys his wife for her birthday! His remaining shares of 117M are worth about £234M. £30M for the stadium? £17M for players next season? have to salute him for this, real commitment from one of the best chairman we have ever had, i would have no objections to the ground being named after him if he is paying out of his own pocket for this. Link to comment Share on other sites More sharing options...
bcfc.co.uk Posted April 17, 2009 Report Share Posted April 17, 2009 Chairman says: "This shows I mean business." View the full article Link to comment Share on other sites More sharing options...
RED4LIFE Posted April 17, 2009 Report Share Posted April 17, 2009 Now on the OS. Great news for the club, and shows SL's commitment to the future of this club. I'm pretty gobsmacked as most clubs would look at raising the necessary funds by loans/investors, and for SL to basically sell a large chunk of his business for the good of the club is an amazing gesture IMO. Thank you Steve. Link to comment Share on other sites More sharing options...
bristolcitysweden Posted April 17, 2009 Report Share Posted April 17, 2009 One Steve Lansdown there's only one Steve Lansdown :winner_third_h4h: We are a lucky bunch to have such an outstanding owner. Link to comment Share on other sites More sharing options...
Livingston Red Posted April 17, 2009 Report Share Posted April 17, 2009 More of my positive spin chucking up here... With so many Scottish clubs facing closure, this is just fantastic news... Link to comment Share on other sites More sharing options...
Lack of Action Man Posted April 17, 2009 Report Share Posted April 17, 2009 Good info in there! Hopefully a fair portion of this revenue will come towards the stadium Link to comment Share on other sites More sharing options...
red badger Posted April 17, 2009 Report Share Posted April 17, 2009 We are indeed fortunate - great manager and great Chairman. Link to comment Share on other sites More sharing options...
bristolcitysweden Posted April 17, 2009 Report Share Posted April 17, 2009 One Steve Lansdown there's only one Steve Lansdown :winner_third_h4h: We are a lucky bunch to have such an outstanding owner. Imagine the boom when the credit crunch is over.. It will be massive and hugher than ever seen. This is the time! We will even bounce out of the ground ; ) Link to comment Share on other sites More sharing options...
BrizzleRed Posted April 17, 2009 Report Share Posted April 17, 2009 TOP BLOKE!!! Rather than just speculation, that's fantastic to see Steve Lansdown has actually admitted it himself. My biggest worry about the stadium plans has always been raising the money, especially with the economy how it is. Hopefully with it being a buyers market, with SL putting the money up front, we may be able to wait a while to get the best price for Ashton Gate and not be forced to sell during a property slump. Happy days and puts the furore surrounding GJs comments today into perspective! SL YOU'RE A LEGEND!!!!!!! Link to comment Share on other sites More sharing options...
bully Posted April 17, 2009 Report Share Posted April 17, 2009 Chairman says: "This shows I mean business." View the full article This will certainly make page 4 of the BEP on Monday.......! Link to comment Share on other sites More sharing options...
bristolcitysweden Posted April 17, 2009 Report Share Posted April 17, 2009 This will certainly make page 4 of the BEP on Monday.......! The Supporters trust should work for making it possible for fans to cash up for the opening day right now! We should all show our appreciation!! Come on you reds! Link to comment Share on other sites More sharing options...
EmersonsKev Posted April 17, 2009 Report Share Posted April 17, 2009 I wonder if this will dispell the numpties questioning the clubs ambition. SL is building a legacy at City that will hopefully be here for my kids and grandkids to see and enjoy. Thank you Steve. I hope that the blue half are reading the news, we have a chairman willing to back his ideas not think of the ideas then try and finance it. Link to comment Share on other sites More sharing options...
grove park city Posted April 17, 2009 Report Share Posted April 17, 2009 One man's vision well done Steve Lansdown ok the season ebbed away but this is a major shot in the arm, don't care if every stand is named after him this is a real statement of intent.We could all say we would do the same with his money but would we ? As long as the council backs this and it is not another (Bristol ARENA )b##ls up . Link to comment Share on other sites More sharing options...
bristolcitysweden Posted April 17, 2009 Report Share Posted April 17, 2009 One man's vision well done Steve Lansdown ok the season ebbed away but this is a major shot in the arm, don't care if every stand is named after him this is a real statement of intent.We could all say we would do the same with his money but would we ? As long as the council backs this and it is not another (Bristol ARENA )b##ls up . The least we can do is to cash up £50 isen't it?? If the council mess it up the money should go to the academy. Link to comment Share on other sites More sharing options...
EmersonsKev Posted April 17, 2009 Report Share Posted April 17, 2009 One man's vision well done Steve Lansdown ok the season ebbed away but this is a major shot in the arm, don't care if every stand is named after him this is a real statement of intent.We could all say we would do the same with his money but would we ? As long as the council backs this and it is not another (Bristol ARENA )b##ls up . Do you really think Steve L would have sold a significant amount of his own business without recieving some kind of assurances from the council regarding planning. I still believe that the council will have been approached by the FA to look at the possibility of hosting World Cup football and in turn the council will have approached the club with there backing. The stadium project is starting to gain momentum and backers. People/fans will have been looking at it with the mentality of "I'll believe it when I see it" Link to comment Share on other sites More sharing options...
grove park city Posted April 17, 2009 Report Share Posted April 17, 2009 Do you really think Steve L would have sold a significant amount of his own business without recieving some kind of assurances from the council regarding planning. I still believe that the council will have been approached by the FA to look at the possibility of hosting World Cup football and in turn the council will have approached the club with there backing. The stadium project is starting to gain momentum and backers. People/fans will have been looking at it with the mentality of "I'll believe it when I see it"Yes ok there is a element of seeing is believing after so many let downs from various boards, and complete lack of interest towards either club from the council this at last could push the club towards where they should have been years ago . Link to comment Share on other sites More sharing options...
bristolcitysweden Posted April 17, 2009 Report Share Posted April 17, 2009 Yes ok there is a element of seeing is believing after so many let downs from various boards, and complete lack of interest towards either club from the council this at last could push the club towards where they should have been years ago . Ten tickets for me if I don't price out a fellow City fan. What's the big deal? Link to comment Share on other sites More sharing options...
Guest MaloneFM Posted April 17, 2009 Report Share Posted April 17, 2009 Happy clappers Thought I'd get one in before anyone else. But this has answered a niggling question. Having bought the land how will the stadium get financed? So the next one is something the ST can throw their badgering powers behind. The way of football is that the ground will be sponsored up to the eyeballs. So the chances of it being called Ashton anything are remote. I really don't care who the sponsors are but can the home end be named the East End for old times sake? The JJB East End, the Pirelli East End but please god NOT the Dunfords Dairies East End. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.