Stadium rip off

Match day discussion, transfers, and all things Accies

Stadium rip off

Postby TerracingTomas » Fri Oct 29, 2021 1:41 pm

Here’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.
Don’t be a marshmallow BOYCOTT the pie shop
TerracingTomas
Premiership
 
Posts: 1429
Joined: Tue Jan 30, 2018 4:53 pm

Re: Stadium rip off

Postby Stevie Clarke » Fri Oct 29, 2021 4:13 pm

Covid not Coved. I'm sorry but it's really annoying me now!
Stevie Clarke
Premiership
 
Posts: 978
Joined: Wed Jan 20, 2016 3:02 pm

Re: Stadium rip off

Postby porcupine » Fri Oct 29, 2021 4:31 pm

Stevie Clarke wrote:Covid not Coved. I'm sorry but it's really annoying me now!


Not the only one, SC, but TT's heart is in the right place, so we've accepted these minor typo's to date. He has bigger things on his agenda just now!
porcupine
Premiership
 
Posts: 1249
Joined: Fri Sep 26, 2014 8:08 pm

Re: Stadium rip off

Postby porcupine » Fri Oct 29, 2021 4:37 pm

TerracingTomas wrote:That real estate belongs to the people of South Lanarkshire They have paid the mortgage for 20 years.


Unlikely, in a legal sense, TT. All tenants pay for goods,services etc.etc. to Landlord. Landlord is then free to do what he wants from the resultant income, whether it be good, bad or indifferent actions.

I can see the emotive agrument you put up, but no case to answer, IMO.
porcupine
Premiership
 
Posts: 1249
Joined: Fri Sep 26, 2014 8:08 pm

Re: Stadium rip off

Postby TerracingTomas » Fri Oct 29, 2021 4:58 pm

It’s a moral/ethical argument Porcupine not a legal one. But then what did “businessmen” know about morals and ethics.
Don’t be a marshmallow BOYCOTT the pie shop
TerracingTomas
Premiership
 
Posts: 1429
Joined: Tue Jan 30, 2018 4:53 pm

Re: Stadium rip off

Postby porcupine » Fri Oct 29, 2021 5:19 pm

Exactly!
porcupine
Premiership
 
Posts: 1249
Joined: Fri Sep 26, 2014 8:08 pm


Return to The Accies

Who is online

Users browsing this forum: No registered users and 11 guests