Racecourse Lease Liability

[Prodigal Dragon]

Assuming the worst does happen and we are relegated -- we can still pull away but it is looking increasingly more difficult even at this early stage -- then the Racecourse would become an even bigger financial liability than it currently is.

Who would be responsible for paying Glyndwr the £100k or £200k per annum lease? Someone must be liable.

[Colonel D]

Originally Posted by Prodigal Dragon

Assuming the worst does happen and we are relegated -- we can still pull away but it is looking increasingly more difficult even at this early stage -- then the Racecourse would become an even bigger financial liability than it currently is.

Who would be responsible for paying Glyndwr the £100k or £200k per annum lease? Someone must be liable.

Yes the club.

[Prodigal Dragon]

Originally Posted by Colonel D

Yes the club.

Is it not in a separate entity to the club? Or do the club directly hold the lease?

[fezbob]

I would've thought it would be with the Wrexham Assets Ltd company?
Posted via mobile theme

[Prodigal Dragon]

Originally Posted by fezbob

I would've thought it would be with the Wrexham Assets Ltd company?
Posted via mobile theme

That was my understanding. But who underwrites them?

If it is current Board members, and we have no indemnity against relegation, then those directors must be held accountable.

[Redted]

Originally Posted by Prodigal Dragon

Assuming the worst does happen and we are relegated -- we can still pull away but it is looking increasingly more difficult even at this early stage -- then the Racecourse would become an even bigger financial liability than it currently is.

Who would be responsible for paying Glyndwr the £100k or £200k per annum lease? Someone must be liable.

Coincidentally I've just been discussing the topic of the lease with my father, if we go down and gate receipts drop we're screwed. The board must loosen the purse strings in January and put some serious investment into the team otherwise we're definitely heading for disaster. We have to spend, we have no choice. They have put us into this position and they have to release funds to give us at least a chance of surviving in this league.

[shetred]

Fear not we have flames wallpaper in the tunnel....

[Prodigal Dragon]

Originally Posted by Redted

Coincidentally I've just been discussing the topic of the lease with my father, if we go down and gate receipts drop we're screwed. The board must loosen the purse strings in January and put some serious investment into the team otherwise we're definitely heading for disaster. We have to spend, we have no choice. They have put us into this position and they have to release funds to give us at least a chance of surviving in this league.

This is my fear, although I am glad I am not liable.

However, for all their protestations, those in power seem unwilling to recognise the dangers we are in. Unless we edge away soon, those finances will rapidly fall into the red, and then the very existence of the club will be threatened.

With no white knight, and a fan-base that is rapidly losing patience, there is no other source of revenue than 'football fortune'.

[NottsRed]

Originally Posted by Redted

Coincidentally I've just been discussing the topic of the lease with my father, if we go down and gate receipts drop we're screwed. The board must loosen the purse strings in January and put some serious investment into the team otherwise we're definitely heading for disaster. We have to spend, we have no choice. They have put us into this position and they have to release funds to give us at least a chance of surviving in this league.

It will be too late by January. We need two to three players in this week ideally.