Danny Ward

[Birdy]

Originally Posted by Haruki

Personally I would pay off the entirety of the Racecourse lease if we got enough of a sell on for Danny. Gets rid of a huge liability, saves us £100k a year for the next 98 years and gives us real security.

Somehow I don't think the sell on fee if there is one will stretch to £9.8 million!

[Alan Attack]

Originally Posted by Haruki

Personally I would pay off the entirety of the Racecourse lease if we got enough of a sell on for Danny. Gets rid of a huge liability, saves us £100k a year for the next 98 years and gives us real security.

You mean buy the ground? Paying off the lease would amount to nearly £10m!

I think it’s a really good idea particularly if the club could get it at a competitive price (ie what newi paid for it) but I’m sure newi would rightfully insert clauses to control incompatible uses etc.

[krux]

Originally Posted by Haruki

Personally I would pay off the entirety of the Racecourse lease if we got enough of a sell on for Danny. Gets rid of a huge liability, saves us £100k a year for the next 98 years and gives us real security.

I disagree. Isn't a 100 year lease pretty secure, plus the 100k will be peanuts in the future due to inflation.
Posted via mobile theme

[tokyored]

Weren't we told we could pay it off if we wanted for about 1.4 million which is the actual value of 100k over 100 years in today's money?
Or at least pay a chunk to reduce the yearly rent?


EDIT - just looked and it says we can choose to pay off the rent over 30 years if we choose by paying a lump sum

[Todd Sweeney]

The value of the lease was £1.4 million, rather than £10m. It’s just that paying it over 99 years equals £10m because of the time value of money.

[pagl]

Originally Posted by Todd Sweeney

The value of the lease was £1.4 million, rather than £10m. It’s just that paying it over 99 years equals £10m because of the time value of money.

How much would the ground itself cost though?

[tokyored]

Originally Posted by pagl

How much would the ground itself cost though?

It's worth about 1.4 million apparently but Glyndwr don't want to sell it. There are some FAQs from a couple of years ago that are quite useful

The Racecourse Lease FAQ

[Nibs]

Great news, imagine how much profit we can report next year...

[Todd Sweeney]

Originally Posted by pagl

How much would the ground itself cost though?

Everything has a price I suppose but when we signed the lease Glyndwr refused to sell. This is from the q&a at the time:

1. Why not just buy the ground?

It was the WST’s favourable option but Glyndwr would never sell the freehold. The second best option then was a 99-year lease which is the closest thing to a sale.

Glyndwr stated they wish to have a say in what becomes of their neighbouring property.