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Old 7th February 2019, 14.38:48   #56-0 (permalink)
Rob
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Joined: Oct 2004
Racecourse Spot: Yale Stand
Real Name: Rob
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Default Re: Consortium bidding for Wrexham

Quote:
Originally Posted by Number6 View Post
Yes, Prof. Scott wanted the ground, also for the club to prosper. When he left and the new Dean took over, she regarded the Racecourse simply as an asset, and wanted nothing to do with the football club. They would offload the ground, in the same way as Marstons did when someone offered them a cash settlement on the unexpired lease, but we have first refusal. They are also happy that we now cover all the expenditure and all the ancilliary employees (groundsmen, stewards, shop/bar staff, turnstiles etc) are off their payroll. £2m would probably buy it, which is why it is imperative that any 'consortium' is coming in for football reasons, and that the required due diligence is done. In this case, a bond of £50k HAS to be placed with the club, before talks can commence, and a detailed business plan with proof of assets has to be presented (this should prevent a leveraged buy-out, where a person uses the clubs own assets to buy the club, shouldering a debt onto the Football Club). If these things are not forthcoming, it's not a serious bid.
My question would be what are they investing in, as that suggests a return of some kind is desired.

The day after it appears Barrow had said he was not interested anymore I posted this dull thread ( Active members only get discounts to boost engagement? ) where I mentioned "with the accumulation of assets (90+ year lease on Racecourse, possible 150 year lease on prime town housing real estate) the club could have a target on its back again."

... oh and a more active membership and voting etc, as back then people did not give much of a toss on the intricacies of how things worked!