This ground rent stuff

[cpade]

There is a cap on what rent he could charge, think it’s £150k pa max.

 

£120k pa

[Heatwave]

Yes but if he sold the club to Fradley who enjoys the ego trip of being the Chairman and the status and hospitality that goes with it he may actually have a mug willing to take on the club without the ground.

If he can’t afford to buy the ground where will he find any money to invest in the team.Dont forget that Fradley and Garlick were the ******** who renewed Baldrick Browns contract which nearly took us out of the league.

I am sure the supporters would not accept a deal with Fradley buying the club as it would be worse than V2001.

 

Where would someone working for Network Rail (admittedly in a senior capacity) find the sort of money Smurf would want for the club? Non starter in my opinion.

[maccapvfc]

What clouds judgement on his intentions is that he has made money through property so I am led to believe. If that’s true, it makes it very reasonable to think that he purchased the club at a very low rate, with the intention to find a buyer to rent the ground to. For example, if rental was £600k per annum, over the 5 year term he recently quoted for the new buyer, that’s £3m in rent plus they then buy it off him.

 

I think Coventry were being charged about £1.2m per annum from my research.

 

The only conflicting information is that he states option to buy the ground after 5 years to the new potential buyer, however he previously quoted (when concerns raised about the club and ground splitting) “that if he sold the club without the ground, an automatic 25 year lease term would automatically trigger as per FA/EFL rules, but at considerably less than the supposed monthly rental value”. If that’s true, there must be specific clauses for the new buyer to be able to rent them but after 5 years.

 

I can’t imagine that the annual rent would be as low as £120-150k, although I think it should be.

[Howjy04]

Smurthwaite could be charging rent now,but doesn’t.

[Santa]

The only conflicting information is that he states option to buy the ground after 5 years to the new potential buyer, however he previously quoted (when concerns raised about the club and ground splitting) “that if he sold the club without the ground, an automatic 25 year lease term would automatically trigger as per FA/EFL rules, but at considerably less than the supposed monthly rental value”. If that’s true, there must be specific clauses for the new buyer to be able to rent them but after 5 years.

The lease thing is interesting. A 25 lease already started on 20.11.12, the date that NS & PW completed. That's something that's in the public domain.

 

Perhaps what he's indicating is that if the football club changes hands then the 25 year period would reset itself somehow.

 

You also have to bear in mind though that Norman's pants are prone to combustion.

[Erniemossrules]

Smurthwaite could be charging rent now,but doesn’t.

 

No he,s like Paul Daniels squirrelling money about to and from his other companies as loans.Thats magic.

[valiant steve]

Smurthwaite could be charging rent now,but doesn’t.

 

And we know that's true because he said he wasn't and we can trust him not to tell porkies can't we?

[SuperValiant1876]

No he,s like Paul Daniels squirrelling money about to and from his other companies as loans.Thats magic.

 

 

Where is this money coming from that he is squirreling away? I thought he was running the club so badly we were making huge losses? Or is he running us at a profit now?

[MarkCh]

Where is this money coming from that he is squirreling away? I thought he was running the club so badly we were making huge losses? Or is he running us at a profit now?

 

Both, according to him.

[cpade]

It’s £120k pa

[Yukon]

The lease thing is interesting. A 25 lease already started on 20.11.12, the date that NS & PW completed. That's something that's in the public domain.

 

Perhaps what he's indicating is that if the football club changes hands then the 25 year period would reset itself somehow.

 

You also have to bear in mind though that Norman's pants are prone to combustion.

 

 

My guess would be that on completion of a purchase, they’d simultaneously terminate the old lease and grant a new one. I’ve not read the existing lease but I would presume the terms were favourable- cheaper rent, less onerous restrictions/ rights etc.

[butt lane vale fan]

Serious question, how can anyone of sound mind actually believe anything that comes out of Smurfs mouth.

I can accept the odd mistake, but a bloke who constantly tries dig himself out of holes by constantly blaming everyone else and who tells porkies more times than bloody pinocchio is nothing more than an ************.

[Valiant in Brum]

Serious question, how can anyone of sound mind actually believe anything that comes out of Smurfs mouth.

I can accept the odd mistake, but a bloke who constantly tries dig himself out of holes by constantly blaming everyone else and who tells porkies more times than bloody pinocchio is nothing more than an ************.

I agrre problem is we can't get rid atm and are stuck

[butt lane vale fan]

Yeah some will say I'm being abusive and yes at first I had a go at fans who were calling Smurf all the names under the sun and how fans should show respect.

However does Smurf ever show respect when he's slagging ex Managers and co off, just to cover up his own failures.

As I've said before I bet the local DIY shops in Leicester do a roaring trade selling him Shovels.

The prob is he doesn't give a damm who he hurts and slags off to try and paint himself as the innocent party.

[Howjy04]

And we know that's true because he said he wasn't and we can trust him not to tell porkies can't we?

 

Show the proof that he isn’t.