| The Fortress 19:49 - Jul 22 with 4389 views | tazzydjr |
Is there any update on the stadium situation, it's way too quite on this front so thought I'd bring in back to life ahead of the Fans Forum |  |
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| The Fortress on 20:05 - Jul 22 with 4338 views | mingthemerciless |
Latest I heard was that the football club's valuation of the shares was on another planet to the Rugby Leagues valuation. So it's a stalemate. |  | | |
| The Fortress on 20:45 - Jul 22 with 4265 views | 442Dale |
| The Fortress on 20:05 - Jul 22 by mingthemerciless |
Latest I heard was that the football club's valuation of the shares was on another planet to the Rugby Leagues valuation. So it's a stalemate. |
How could this information have got out into the public domain?
I thought our issues were with the council? |  |
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| The Fortress on 20:51 - Jul 22 with 4233 views | dingdangblue |
| The Fortress on 20:05 - Jul 22 by mingthemerciless |
Latest I heard was that the football club's valuation of the shares was on another planet to the Rugby Leagues valuation. So it's a stalemate. |
Surely they'll just want the amount of the loan that Hornets defaulted on to acquire them?? |  |
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| The Fortress on 20:59 - Jul 22 with 4196 views | Yorkshire_Dale |
I still say that RFL have no say in the StadCo dispute as they cannot have a LEGAL right to own the shares.........surely the delay is RAFC and RMBC ? | | | |
| The Fortress on 11:22 - Jul 23 with 3820 views | Vespa |
AFAIK a deal has been done with the RFL for the RFL's shares that both parties are happy with. I don't know the amount they'll be sold for but have been told it's not one large payment but spread over several years.
AFAIK the sticking point is RMBC who don't want to write off the loans and mortgages that have been made. |  |
| Up the Dale, C'mon Hornets |
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| The Fortress on 11:24 - Jul 23 with 3813 views | tazzydjr |
| The Fortress on 11:22 - Jul 23 by Vespa |
AFAIK a deal has been done with the RFL for the RFL's shares that both parties are happy with. I don't know the amount they'll be sold for but have been told it's not one large payment but spread over several years.
AFAIK the sticking point is RMBC who don't want to write off the loans and mortgages that have been made. |
Shouldn't the council look into how the debt originally came about then be chasing that person for the money instead of the Football Club it seems nobody there seems to have brains unless the debt where one of their own faults | |
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| The Fortress on 11:31 - Jul 23 with 3788 views | 1mark1 |
| The Fortress on 11:22 - Jul 23 by Vespa |
AFAIK a deal has been done with the RFL for the RFL's shares that both parties are happy with. I don't know the amount they'll be sold for but have been told it's not one large payment but spread over several years.
AFAIK the sticking point is RMBC who don't want to write off the loans and mortgages that have been made. |
Absolutely correct. regarding sticking point being the deal with RMBC. Mind you this as been pointed out many times before, but people don't or won't listen. |  |
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| The Fortress on 11:39 - Jul 23 with 3768 views | 1mark1 |
| The Fortress on 11:24 - Jul 23 by tazzydjr |
Shouldn't the council look into how the debt originally came about then be chasing that person for the money instead of the Football Club it seems nobody there seems to have brains unless the debt where one of their own faults |
All that Rochdale MBC care about is that the SC owe the debt, not how or who in the SC is responsible for that debt. The ground was developed into the decent stadium it is now with money partly loaned by the council, and that has to be paid back as far as the council is concerned. IF they allowed the SC not to pay back owed money, it is possible that the District Auditor might get involved, for improper waste of public money. | |
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| The Fortress on 11:46 - Jul 23 with 3750 views | dingdangblue |
| The Fortress on 11:24 - Jul 23 by tazzydjr |
Shouldn't the council look into how the debt originally came about then be chasing that person for the money instead of the Football Club it seems nobody there seems to have brains unless the debt where one of their own faults |
The debt is money loaned by the council towards building the Wilbutts Lane stand? I think. Unless you know otherwise? Dale pay the money back and we get a Stadium - simples. Dale dont pay the money back and we carry on renting until the stadium becomes beyond repair - talking of repair - has the Pearl St roof been fixed? | |
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| The Fortress on 11:50 - Jul 23 with 3737 views | isitme |
The roof was fixed last week, when the sun was shining! |  | | |
| The Fortress on 11:54 - Jul 23 with 3728 views | Toffeemanc |
| The Fortress on 11:46 - Jul 23 by dingdangblue |
The debt is money loaned by the council towards building the Wilbutts Lane stand? I think. Unless you know otherwise? Dale pay the money back and we get a Stadium - simples. Dale dont pay the money back and we carry on renting until the stadium becomes beyond repair - talking of repair - has the Pearl St roof been fixed? |
The Pearl Street roof has been fixed with solid panels so there are now no clear panel in the roof anymore. Who has paid for the repair I don't know, but I would guess the bill has probably been paid by the football club as we are the main/only users of the stand? |  |
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| The Fortress on 12:09 - Jul 23 with 3694 views | HK_Dale |
| The Fortress on 11:39 - Jul 23 by 1mark1 |
All that Rochdale MBC care about is that the SC owe the debt, not how or who in the SC is responsible for that debt. The ground was developed into the decent stadium it is now with money partly loaned by the council, and that has to be paid back as far as the council is concerned. IF they allowed the SC not to pay back owed money, it is possible that the District Auditor might get involved, for improper waste of public money. |
I struggle to see how it couldn't be justified that the development of a stadium that is of benefit to the community could be a waste of public money.
I realise not everyone will want to attend the games but "niche audience" requirements cannot be a qualifier for waste of public money. There are plenty of instances of public money being spent on things for a small audience of people.
Surely the club could pay a nominal amount or an amount equivalent to the depreciated value of the initial loan?
Disclaimer: Not an accountant so all just educated guesses. |  | | |
| The Fortress on 12:26 - Jul 23 with 3641 views | Vespa |
| The Fortress on 12:09 - Jul 23 by HK_Dale |
I struggle to see how it couldn't be justified that the development of a stadium that is of benefit to the community could be a waste of public money.
I realise not everyone will want to attend the games but "niche audience" requirements cannot be a qualifier for waste of public money. There are plenty of instances of public money being spent on things for a small audience of people.
Surely the club could pay a nominal amount or an amount equivalent to the depreciated value of the initial loan?
Disclaimer: Not an accountant so all just educated guesses. |
The problem as far as the council is concerned is that although it's called Rochdale MBC it actually represents many people that don't live in or identify with the town.
RMBC area population is 210,000 where as Rochdale's population is less than half this at about 90,000.
The argument is that spending money on writing off the loans doesn't and wont do the people of Middleton or Hopwood or even Heywood any good. | |
| Up the Dale, C'mon Hornets |
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| The Fortress on 12:33 - Jul 23 with 3619 views | 1mark1 |
All this is going over old ground. For what ever reason, the Council want the SC debt paid off. We can argue forever whether we believe that's fair or not, fact is when Rochdale AFC come up with the asking price, they can have the stadium. | |
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| The Fortress on 13:23 - Jul 23 with 3524 views | dingdangblue |
| The Fortress on 11:22 - Jul 23 by Vespa |
AFAIK a deal has been done with the RFL for the RFL's shares that both parties are happy with. I don't know the amount they'll be sold for but have been told it's not one large payment but spread over several years.
AFAIK the sticking point is RMBC who don't want to write off the loans and mortgages that have been made. |
Aren't the RFL responsible for part of the Stadium company Debt? | |
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| The Fortress on 14:46 - Jul 23 with 3465 views | Vespa |
| The Fortress on 13:23 - Jul 23 by dingdangblue |
Aren't the RFL responsible for part of the Stadium company Debt? |
Denehurst Park Ltd is a limited liability company.
As far as the shareholders are concerned, the RFL (45%), the Dale(45%) and RMBC (10%) the limit of their Liabilities lie with what they paid for their shares.
So no neither the RFL or the Dale or the Council are "responsible" for the debt should the stadium company go t1ts up. If the stadium company goes bust then the assets (Spotland) will be sold and any monies collected used to pay the creditors. | |
| Up the Dale, C'mon Hornets |
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| The Fortress on 14:53 - Jul 23 with 3451 views | tazzydjr |
| The Fortress on 14:46 - Jul 23 by Vespa |
Denehurst Park Ltd is a limited liability company.
As far as the shareholders are concerned, the RFL (45%), the Dale(45%) and RMBC (10%) the limit of their Liabilities lie with what they paid for their shares.
So no neither the RFL or the Dale or the Council are "responsible" for the debt should the stadium company go t1ts up. If the stadium company goes bust then the assets (Spotland) will be sold and any monies collected used to pay the creditors. |
Hopefully all parties can avoid it going bust and some asset stripper coming along and buying the fortress via auction to make into new houses | |
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| The Fortress on 14:59 - Jul 23 with 3435 views | isitme |
| The Fortress on 14:53 - Jul 23 by tazzydjr |
Hopefully all parties can avoid it going bust and some asset stripper coming along and buying the fortress via auction to make into new houses |
I thought there is something in the land deeds that prevents this from happening (although I am probably wrong)? | | | |
| The Fortress on 15:01 - Jul 23 with 3427 views | tazzydjr |
| The Fortress on 14:59 - Jul 23 by isitme |
I thought there is something in the land deeds that prevents this from happening (although I am probably wrong)? |
There was a similar thing on the Church Inn bowling green | |
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| The Fortress on 15:03 - Jul 23 with 3415 views | isitme |
| The Fortress on 15:01 - Jul 23 by tazzydjr |
There was a similar thing on the Church Inn bowling green |
Not being a Church goer I wasn't aware of that. What is happening with that land, as it has been left derelict for a while now. | | | |
| The Fortress on 15:04 - Jul 23 with 3408 views | dingdangblue |
| The Fortress on 14:46 - Jul 23 by Vespa |
Denehurst Park Ltd is a limited liability company.
As far as the shareholders are concerned, the RFL (45%), the Dale(45%) and RMBC (10%) the limit of their Liabilities lie with what they paid for their shares.
So no neither the RFL or the Dale or the Council are "responsible" for the debt should the stadium company go t1ts up. If the stadium company goes bust then the assets (Spotland) will be sold and any monies collected used to pay the creditors. |
Well it sounds complicated and no wonder its not being resolved. So basically the Council want Dale to clear a debt that they are not solely liable for? Do the council then want money for their shares also? | |
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| The Fortress on 16:07 - Jul 23 with 3350 views | 49thseason |
| The Fortress on 15:04 - Jul 23 by dingdangblue |
Well it sounds complicated and no wonder its not being resolved. So basically the Council want Dale to clear a debt that they are not solely liable for? Do the council then want money for their shares also? |
Bearing in mind there is £13m of uncollected council tax in Rochdale, I suspect the council will hold out for every penny they think they can get, after all its easier to put the squeeze on a business that shows the town in a good light rather than try to force voters into coughing up what they owe. |  | | |
| The Fortress on 18:23 - Jul 23 with 3214 views | 442Dale |
| The Fortress on 15:03 - Jul 23 by isitme |
Not being a Church goer I wasn't aware of that. What is happening with that land, as it has been left derelict for a while now. |
Wonder if Dale looked at buying it? Could have used the land along with the existing five a side pitch to create a decent sized 3G pitch for some training sessions and use by the local community. | |
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| The Fortress on 21:46 - Jul 23 with 3042 views | Yorkshire_Dale |
| The Fortress on 18:23 - Jul 23 by 442Dale |
Wonder if Dale looked at buying it? Could have used the land along with the existing five a side pitch to create a decent sized 3G pitch for some training sessions and use by the local community. |
Suggested same some time ago......or,could sell it as Car Parking spaces.........never heard of that one? | | | |
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