Stadium rip off
Posted: Fri Oct 29, 2021 1:41 pmHere’s a thought for you. Just over 20 years ago the leader of South Lanarkshire Council the late Tom McCabe entered into a deal with Accies to rent the entire North Stand on a 20 year lease. He did so quite publicly to ensure the club could return to Hamilton and play in ITS brand new stadium. Without that deal the club was in no position to finance construction/pay the mortgage whatever. I’ve previously estimated that over that 20 year time frame SLC may well have contributed in excess of £6 million in rent. The stadiums value including the land before depreciation sits at over £5 million. And that valuation is over a year old. So Mcgoofey, Ronnie and Les sell of a football club for presumably a little bit of money. Ok I know the only real tangible asset a club has without a stadium is it’s licence to play in the league and that it comes with a minimum of £1.2 million coved debt but who knows some idiot may come forth. Meanwhile Mcgoofey and co are left with a Piece of real estate worth over £5 million. That real estate belongs to the people of South Lanarkshire They have paid the mortgage for 20 years. Has the leader of SLC got anything to say about this proposal. Come on ASA write to him now.