| Swansea Council set to sell the SWANSEA.COM Stadium 09:57 - Jul 9 with 7181 views | Landore_Jack |
SWANSEA.COM STADIUM: Council set to sell the Swans their home — with the price kept behind closed doors
Cabinet will be asked next Thursday to approve the sale of the council's freehold in the Swansea.com Stadium to Swansea City — with the "large purchase price" and promotion bonuses detailed only in a closed report.
https://swanseabaynews.com/swa
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| Swansea Council set to sell the SWANSEA.COM Stadium on 10:06 - Jul 9 with 5864 views | Whiterockin |
"as well as retained ticket and hospitality benefits” for the council."
Really. Should this be allowed, perks and benifits for elected representatives. Open corruption clearly visible. |  | | |
| Swansea Council set to sell the SWANSEA.COM Stadium on 10:45 - Jul 9 with 5738 views | KeithHaynes |
| Swansea Council set to sell the SWANSEA.COM Stadium on 10:06 - Jul 9 by Whiterockin |
"as well as retained ticket and hospitality benefits” for the council."
Really. Should this be allowed, perks and benifits for elected representatives. Open corruption clearly visible. |
Agreed. A total break should be the answer. |  |
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| Swansea Council set to sell the SWANSEA.COM Stadium on 10:47 - Jul 9 with 5725 views | Dr_Winston |
As a council tax payer I'm not thrilled about the purchase price being a secret either. Sets a bad precedent. |  |
| Pain or damage don't end the world. Or despair, or f*cking beatings. The world ends when you're dead. Until then, you got more punishment in store. Stand it like a man... and give some back. |
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| Swansea Council set to sell the SWANSEA.COM Stadium on 10:55 - Jul 9 with 5643 views | KeithHaynes |
| Swansea Council set to sell the SWANSEA.COM Stadium on 10:47 - Jul 9 by Dr_Winston |
As a council tax payer I'm not thrilled about the purchase price being a secret either. Sets a bad precedent. |
Would assume that it will be revealed ?
There’s ways of getting that disclosure of it isn’t. Best effort by all concerned is when the deal is agreed that information is made available. | |
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| Swansea Council set to sell the SWANSEA.COM Stadium on 11:05 - Jul 9 with 5545 views | Whiterockin |
| Swansea Council set to sell the SWANSEA.COM Stadium on 10:55 - Jul 9 by KeithHaynes |
Would assume that it will be revealed ?
There’s ways of getting that disclosure of it isn’t. Best effort by all concerned is when the deal is agreed that information is made available. |
They must know that we can legally apply for a disclosure from the council so why try and hide it. When the agreement is completed surely they should disclose all the details. | | | |
| Swansea Council set to sell the SWANSEA.COM Stadium on 12:23 - Jul 9 with 5306 views | Boundy |
| Swansea Council set to sell the SWANSEA.COM Stadium on 11:05 - Jul 9 by Whiterockin |
They must know that we can legally apply for a disclosure from the council so why try and hide it. When the agreement is completed surely they should disclose all the details. |
sometimes its too late to complain , the Skyline initally was going to be loan of 8 million pounds now its over 10 million, 10 million pounds can earn you a lot of interest left in the bank . |  |
| "In a free society, the State is the servant of the people—not the master." |
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| Swansea Council set to sell the SWANSEA.COM Stadium on 13:06 - Jul 9 with 5131 views | ReslovenSwan1 |
Why would it be confidential. ?
a) The council wants it confidential or do SCFC owners want I confidential.? The Owners approached the council not the other way around.
b) A low price would attract suspicion and possibly other interested parties
c) The deal is a little complex as the club is already paying rent and advertising fees to the council on a long term deal .
d) if the owners are " super rich" with big plans the council might be seei benefit in a low cost deal. Remember the Senedd gave Wrexham a grant to o help th m with the stand on the basis that they were spending big Wrexham.
e) If they do have big plans and spin offs down the line a competitive tender by a spoiler would not be welcome. A US hedge fund could buy the stadium pay more and put punitive rents on the current owners and SCFC for example. [Post edited 9 Jul 14:10]
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| Swansea Council set to sell the SWANSEA.COM Stadium on 14:46 - Jul 9 with 4920 views | Whiterockin |
| Swansea Council set to sell the SWANSEA.COM Stadium on 13:06 - Jul 9 by ReslovenSwan1 |
Why would it be confidential. ?
a) The council wants it confidential or do SCFC owners want I confidential.? The Owners approached the council not the other way around.
b) A low price would attract suspicion and possibly other interested parties
c) The deal is a little complex as the club is already paying rent and advertising fees to the council on a long term deal .
d) if the owners are " super rich" with big plans the council might be seei benefit in a low cost deal. Remember the Senedd gave Wrexham a grant to o help th m with the stand on the basis that they were spending big Wrexham.
e) If they do have big plans and spin offs down the line a competitive tender by a spoiler would not be welcome. A US hedge fund could buy the stadium pay more and put punitive rents on the current owners and SCFC for example. [Post edited 9 Jul 14:10]
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As a Swansea Council taxpayer I have a right to know and will know. I am happy to wait until after the sale but we should and will know the details.
Council Asset Registers and Accounts
Local councils are legally required to maintain an asset register. For Swansea Council, a comprehensive list of council assets is included in their annual statement of accounts (available on the Lists and registers page). If the council sold the asset during the financial year, the capital receipt (the amount they sold it for) will be recorded here.
Freedom of information
If the sale happened recently and isn't yet showing up on public databases, you can submit a Freedom of Information (FOI) request directly to the council. Councils cannot legally withhold the final sale price of a public asset unless releasing it would prejudice ongoing commercial negotiations or violate confidentiality agreements (which are rare for finalized sales). | | | |
| Swansea Council set to sell the SWANSEA.COM Stadium on 17:05 - Jul 9 with 4722 views | Treforys_Jack |
Would money spent on buying the stadium mean we would be able to spend more on the squad and still keep within the rules. |  | | |
| Swansea Council set to sell the SWANSEA.COM Stadium on 17:09 - Jul 9 with 4709 views | max936 |
| Swansea Council set to sell the SWANSEA.COM Stadium on 10:06 - Jul 9 by Whiterockin |
"as well as retained ticket and hospitality benefits” for the council."
Really. Should this be allowed, perks and benifits for elected representatives. Open corruption clearly visible. |
Where's the freebies for the taxpayer, why should those bozzos get these perks greedy self serving, self centred t..ts |  | | |
| Swansea Council set to sell the SWANSEA.COM Stadium on 17:27 - Jul 9 with 4660 views | Whiterockin |
| Swansea Council set to sell the SWANSEA.COM Stadium on 17:05 - Jul 9 by Treforys_Jack |
Would money spent on buying the stadium mean we would be able to spend more on the squad and still keep within the rules. |
Short answer is no, not unless it generates more income. Rent, repairs and running costs are outside PSR/SCR and totally separate. As is any purchase. | | | |
| Swansea Council set to sell the SWANSEA.COM Stadium on 17:32 - Jul 9 with 4642 views | Whiterockin |
| Swansea Council set to sell the SWANSEA.COM Stadium on 17:09 - Jul 9 by max936 |
Where's the freebies for the taxpayer, why should those bozzos get these perks greedy self serving, self centred t..ts |
Retaining tickets and hospitality is one of the reasons there needs to be clarity and total disclosure of the purchase price and any added agreements and terms. Failure to do this could possibly imply that those involved for the council have a vested interest by receiving benifits. | | | |
| Swansea Council set to sell the SWANSEA.COM Stadium on 17:50 - Jul 9 with 4581 views | Dr_Winston |
I think it would be reasonable for the council to retain some privileges for tickets/access for commercial/hospitality purposes. Councillors using them for a jolly however needs to be firmly verboten. | |
| Pain or damage don't end the world. Or despair, or f*cking beatings. The world ends when you're dead. Until then, you got more punishment in store. Stand it like a man... and give some back. |
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| Swansea Council set to sell the SWANSEA.COM Stadium on 17:55 - Jul 9 with 4548 views | Whiterockin |
| Swansea Council set to sell the SWANSEA.COM Stadium on 17:50 - Jul 9 by Dr_Winston |
I think it would be reasonable for the council to retain some privileges for tickets/access for commercial/hospitality purposes. Councillors using them for a jolly however needs to be firmly verboten. |
It should never be a bargaining tool, if its beneficial to the city it should be paid and accounted for and claimed through expenses. | | | |
| Swansea Council set to sell the SWANSEA.COM Stadium on 18:29 - Jul 9 with 4482 views | Dr_Winston |
| Swansea Council set to sell the SWANSEA.COM Stadium on 17:55 - Jul 9 by Whiterockin |
It should never be a bargaining tool, if its beneficial to the city it should be paid and accounted for and claimed through expenses. |
I'm not entirely in disagreement with what you're saying, but I do tend to think that there's room for accommodation here.
Ultimately the council spent around £30m (if memory serves) building the place and I'd be amazed if we were paying that much to acquire it from them. Letting them have a couple of hospitality seats for council purposes, as long as that is what they are used for, is no big deal IMO. | |
| Pain or damage don't end the world. Or despair, or f*cking beatings. The world ends when you're dead. Until then, you got more punishment in store. Stand it like a man... and give some back. |
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| Swansea Council set to sell the SWANSEA.COM Stadium on 18:35 - Jul 9 with 4464 views | Whiterockin |
| Swansea Council set to sell the SWANSEA.COM Stadium on 18:29 - Jul 9 by Dr_Winston |
I'm not entirely in disagreement with what you're saying, but I do tend to think that there's room for accommodation here.
Ultimately the council spent around £30m (if memory serves) building the place and I'd be amazed if we were paying that much to acquire it from them. Letting them have a couple of hospitality seats for council purposes, as long as that is what they are used for, is no big deal IMO. |
£27M springs to mind, but there were grants provided from the football sector, the reason why football always had priority over rugby. | | | |
| Swansea Council set to sell the SWANSEA.COM Stadium on 20:40 - Jul 9 with 4272 views | max936 |
| Swansea Council set to sell the SWANSEA.COM Stadium on 17:55 - Jul 9 by Whiterockin |
It should never be a bargaining tool, if its beneficial to the city it should be paid and accounted for and claimed through expenses. |
You have a point, I agree with a means to an end | | | |
| Swansea Council set to sell the SWANSEA.COM Stadium on 08:43 - Jul 10 with 3924 views | jack_lord |
The stadium was financed by council led partnership which was basically a land swap retail model so apparently cost the tax payer in Swansea nothing. The council has obviously had rent in some form for the last 20 years and now gets to sell it. Sounds like a great deal for both parties as long as it isnt too expensive for the Swans and the council are not selling it for 100k.
It wont shut the bitter blueturds up as they will come up with another story about how we dont really own the ground |  |
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| Swansea Council set to sell the SWANSEA.COM Stadium on 13:38 - Jul 10 with 3707 views | Whiterockin |
I find this very reassuring.
"The negotiations are supported by an independent valuation of the property carried out on behalf of the Council and demonstrates best value for the Council and the taxpayer."
https://www.wales247.co.uk/sno | | | |
| Swansea Council set to sell the SWANSEA.COM Stadium on 19:29 - Jul 10 with 3427 views | tylagarwjack |
The bit the Basseys seem to forget is that the only reason they own their own stadium is because their council gifted them the land and they used the money from the retail park to fund the build, it’s literally just that their council gave them some land for free and Swansea Council didn’t. As a Cardiff tax payer at the time I wasn’t happy!
They may have lauded it but their stadium never has been a realisable asset because the deal included some restrictive covenants which would have prevented the land/site ever being used for something else and the stadium could not be sold. If an asset can’t be seized it can’t be borrowed against in the event of defaulting on loan repayments.
I would imagine any deal with the council will have similar covenants hence enabling the council to realise their asset whilst still safeguarding the club. | | | |
| Swansea Council set to sell the SWANSEA.COM Stadium on 19:33 - Jul 10 with 3417 views | Whiterockin |
| Swansea Council set to sell the SWANSEA.COM Stadium on 19:29 - Jul 10 by tylagarwjack |
The bit the Basseys seem to forget is that the only reason they own their own stadium is because their council gifted them the land and they used the money from the retail park to fund the build, it’s literally just that their council gave them some land for free and Swansea Council didn’t. As a Cardiff tax payer at the time I wasn’t happy!
They may have lauded it but their stadium never has been a realisable asset because the deal included some restrictive covenants which would have prevented the land/site ever being used for something else and the stadium could not be sold. If an asset can’t be seized it can’t be borrowed against in the event of defaulting on loan repayments.
I would imagine any deal with the council will have similar covenants hence enabling the council to realise their asset whilst still safeguarding the club. |
Thank you.
An example of why the details need to be made public. Who knows what the future holds 20 plus years down the line. | | | |
| Swansea Council set to sell the SWANSEA.COM Stadium on 20:18 - Jul 10 with 3357 views | tylagarwjack |
The bit the Basseys seem to forget is that the only reason they own their own stadium is because their council gifted them the land and they used the money from the retail park to fund the build, it’s literally just that their council gave them some land for free and Swansea Council didn’t. As a Cardiff tax payer at the time I wasn’t happy!
They may have lauded it but their stadium never has been a realisable asset because the deal included some restrictive covenants which would have prevented the land/site ever being used for something else and the stadium could not be sold. If an asset can’t be seized it can’t be borrowed against in the event of defaulting on loan repayments.
I would imagine any deal with the council will have similar covenants hence enabling the council to realise their asset whilst still safeguarding the club. | | | |
| Swansea Council set to sell the SWANSEA.COM Stadium on 21:24 - Jul 10 with 3290 views | KeithHaynes |
| Swansea Council set to sell the SWANSEA.COM Stadium on 20:18 - Jul 10 by tylagarwjack |
The bit the Basseys seem to forget is that the only reason they own their own stadium is because their council gifted them the land and they used the money from the retail park to fund the build, it’s literally just that their council gave them some land for free and Swansea Council didn’t. As a Cardiff tax payer at the time I wasn’t happy!
They may have lauded it but their stadium never has been a realisable asset because the deal included some restrictive covenants which would have prevented the land/site ever being used for something else and the stadium could not be sold. If an asset can’t be seized it can’t be borrowed against in the event of defaulting on loan repayments.
I would imagine any deal with the council will have similar covenants hence enabling the council to realise their asset whilst still safeguarding the club. |
👏👏👏👏 | |
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| Swansea Council set to sell the SWANSEA.COM Stadium on 13:20 - Jul 11 with 2963 views | gadgetuk |
| Swansea Council set to sell the SWANSEA.COM Stadium on 18:29 - Jul 9 by Dr_Winston |
I'm not entirely in disagreement with what you're saying, but I do tend to think that there's room for accommodation here.
Ultimately the council spent around £30m (if memory serves) building the place and I'd be amazed if we were paying that much to acquire it from them. Letting them have a couple of hospitality seats for council purposes, as long as that is what they are used for, is no big deal IMO. |
£27m build which included £1.5m from sports wales and £1m from WRU | | | |
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