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Stefan Rupp

Discussion in 'City Talk' started by Captain Grumpy, Jun 3, 2021.

  1. Bantam Begins

    Bantam Begins Squad Player

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    Is Rhodes that rich ?
     
  2. Storck

    Storck Regular Starter

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    no
     
  3. Onside87

    Onside87 Impact Sub

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    Even if he takes a cut on the purchase price of the club he’s going to want a return on his investment that he’s put in to keep the club afloat.
     
  4. ahar964

    ahar964 Squad Player
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    We are back to the same old question. Let's say Rupp will accept half what he paid, so £3m. I still don't see anyone on the horizon who is going to pay that AND also funds to progress the club. It's looking more and more incredible that he paid £6m even though we were in a better place back then
     
  5. Faithful Bantam

    Faithful Bantam Squad Player

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    Hes already got that back from McBurnie.
     
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  6. Ulysses S Grant

    Ulysses S Grant Squad Player
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    NO. Don't even think it.
     
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  7. Bronco

    Bronco Star Player
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    It is his business and I'd suggest he wants to grow it as with any other business, he's not in business to stand still, so although it would be great to be self sufficient come January a cash injection to cement our promotion push would be a wise and welcome move, you remember the Curle/Townsend scenario Jack kept his brass in his pocket saying the squad was good enough to achieve promotion and that ultimately cost us a great chance of League One football IMO.
     
  8. Ulysses S Grant

    Ulysses S Grant Squad Player
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    Personally from McBurnie ?
     
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  9. Ulysses S Grant

    Ulysses S Grant Squad Player
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    Personally from McBurnie ?
    what we would give now for league one football eh ?
     
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  10. Bronco

    Bronco Star Player
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    How sad is that but I agree 100%.
    Or as it is now the Premiership.
     
  11. Ulysses S Grant

    Ulysses S Grant Squad Player
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    I'd settle for league one right now.
     
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  12. Tight1-0Victory

    Tight1-0Victory Fringe Player

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    The answer is much more obvious when you consider the football club could be around in 2-300 years whereas a person with a mortgage definitely won't

    For an individual a mortgage comes with considerations that don't apply to a business that should have a long term future I'd much rather Bradford City were currently paying off the mortgage on VP than endlessly paying rent

    End of the day it makes no sense for City to be paying rent on the stadium because they could theoretically be doing so for the rest of time unless there are plans for a new stadium you are aware of that I'm not otherwise it's paramount that that money isn't just wasted on Gibb's pension fund and is actually going towards ownership and cost cutting in the long term
     
  13. Mike Hunt

    Mike Hunt Impact Sub

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    Valley Parade will need serious money spending in the next 20-30 years, never mind the next 2-300.

    Owning the stadium has benefits, but Bradford City are football club not a property company, if they have limited cash then it’s arguably correct that that goes into football and not bricks and mortar.

    Let’s say Rupp buys the ground and City pay back a 10-15 year loan. At the end of this they have a huge piece of real estate in one of the poorest parts of the country. That stadium is by then a minimum 30 years old, the Bradford End and Midland Road closer to 40. City will at some point have to either redevelop those stands with the compromises of geographical limitations or walk away from their asset and develop a new ground. Unlike a lot of other clubs they’re not selling the land at VP for a fancy housing development that will pay for the new stadium or getting help off the council. With a lease the options are almost certainly more straightforward, it’s certainly much easier to walk away.

    It’s definitely not as simple as saying renting good owning bad or vice versa. It’s a proper project to make a well informed decision. If I were in Ryan’s chair I’d be spending the overwhelming majority of my time focussing on getting the club stable, then growing it and importantly out of league one while employing consultants/solicitors/accountants to work on the strategy for the ground ownership.
     
  14. Ulysses S Grant

    Ulysses S Grant Squad Player
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    The capital repayments on a 15 year mortgage, assuming a £5million price, are as much as the rent we pay and thats before interest at around 6% or more on a commercial loan. That adds another £250k per annum.

    Rupp buying the ground only works if we pay him rent and why would he pay £5million for a piece of land worth about a quarter of that.

    It doesn't add up.
     
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  15. Interested Bystander

    Interested Bystander Important Player
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    Not owning the ground shouldn't be an issue.
    The problem here is the nature and cost of the lease.
    I can only assume the negotiations were pretty one sided in favour of the Pension Fund
     
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  16. Bronco

    Bronco Star Player
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    Without going into the nitty gritty basically we were struggling to meet the conditions of the first administration and Gordon Gibb offered to purchase the ground on behalf of Flamingo Land Pension Fund, I believe Gibb made two offers to Julian Rhodes a figure that as a club we paid annually but would be increased every 5 years which is offer he took if my memory serves me well.
    I'm sure if I'm wrong I will be corrected.
     
    #176 Bronco, Sep 13, 2021
    Last edited: Sep 13, 2021
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  17. Interested Bystander

    Interested Bystander Important Player
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    Should have got our Karren involved mate, we don't even pay for the corner flags at our gaff
     
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  18. Dennis

    Dennis Captain
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    No. The negotiations on the sale of VP (and the office block and shop) were certainly held during a difficult period. A secured creditor from Admin 1 who was owed millions, hadn't been paid and was threatening to foreclose on the loan through the courts. That would probably have been the end of the club.

    Fortunately, there were a number of offers on the table to buy VP and lease it back to the club over a long period. The offer from the pension fund was the best one from the club's perspective and agreed by JR and the Prof on the recommendation of Sean Harvey, the club's then CEO. Gibb wasn't involved in the decision since he was conflicted as a beneficiary and trustee of the PF.

    It's easy to conclude nearly 20 years later that we got a poor deal. But the club was on its back at the time, had just avoided liquidation by the skin of its teeth and needed cash urgently. It was in danger of disappearing. Any buyer of the ground would have that risk to bear - a financially insecure tenant in a very specialised asset with no viable alternative use which could so easily become a very expensive white elephant for its new owners.
     
  19. Inspector

    Inspector Squad Player
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    We’d all like a quality striker but who are they?

    I doubt it was a lack of trying to get one in, just a lack of quality across the board being available. It’s one thing identifying but another convincing them to join. If it was that easy why are the richer clubs in this league not signing them up?

    Let’s face it, we’ve a reputation of wasting the careers of relatively good strikers for the division. Until we show more than big ground, big support we’ll struggle to bring in what we need. Throwing money at it, isn’t always the answer.
     
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  20. Ulysses S Grant

    Ulysses S Grant Squad Player
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    Spot on. A decision (along with Ward & Carbone waiving payments in Admin 2) that ultimately saved us from liquidation. We should be thanking Gibb (or at least the pension fund) not castigating him/ them for putting in badly needed money when we could easily have ended up liquidated.
     
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