I'll hazard a guess that Mr Gibb believes that there's a distinct chance that 'we may fall on our arse'. He's attempting to ensure that the investment via his pension fund is stable and not under threat from people implementing risky strategies.
I find it interesting that this has happened now. He's either decided he wants to part own a football club again and he can make money through purchasing it. Or he believes that if he doesn't buy it then his investment is under threat. I don't believe someone as successful and shrewd as Gibb would go into something like this, and make it public, without there being a very good reason for doing so.
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Most liked posts in thread: Gibb to return ?
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Hey hey! At least we'll own our own ground!
Jay, bantamlad92, FrenchBantam and 3 others like this. -
this would be brilliant for the club.
one can only hope.Utters0, punk bantam, cjunluck and 3 others like this. -
If they were to take over, what realistically would change?
I doubt they’d pump millions into the transfer fund. Would they keep season tickets low and stand the shortfall to the budget?
Despite the upheaval we’ve had this year, I quite like the approach they’ve taken this season (even though I was sceptical earlier). If it works why would we want to change? The timings not right.Batmanbantam, Dratsab taf, Petrov and 3 others like this. -
broadsword, Tolly856, Gardscoigne and 3 others like this.
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Ulysses S Grant Squad PlayerP.L.22/23 Entrant P.L.23/24 Entrant
It’s the pension fund for all employees of the flamingo land organisation and Gordon gibb has absolutely no say it its running.
Once he sold the ground to the fund he stopped having any influence and simply got his money back.
Don’t forget Rhodes and Lawn set up a separate company to hold the asset that was the shop and office block and made a personal profit when it was sold.Stop hovering to collapse... Click to collapse... Hover to expand... Click to expand...Mason Handshake, rmbenson007, Allotment Bantam and 3 others like this. -
If you don’t like the terminology I used, fair enough, but feeling like you have no choice but to resign, is ‘forced’ in my bookStop hovering to collapse... Click to collapse... Hover to expand... Click to expand...CT Bantam, Bruce Bannister, loz and 3 others like this. -
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When account is taking of the first year being rent free and the ground itself being a wasting asset with significant tenancy risk and little residual value at the end of the lease, the return is about !2% pa over the 25 years.
Let's remember that the pension fund took on the ground with a risk that the club could fold at some point and they'd have lost their income stream and be stuck with an asset with little value. Did ML refer to his own loan to the club from which he earned 9.5% interest only a little less than the pension fund? And his loan was risk free. He took out a charge on the assets of the club and had first claim in the event that something untoward happened to the club. His loan was fully protected. His loan was a 9.5%pa risk free and the pension funds lease was 12% with a significant risk at the time.
At the time that the pension fund agreed to buy the ground, there were at least 3 other offers on the table (that's according to the Prof) and the pension fund's was the best one. It was the action of the pension fund (and the development company which bought the office block and shops) which enabled the club to pay back the outstanding loan which GR had taken out with Lombard and thus prevent our club from being liquidated. It was really was touch and go at the time. Imo ML is stirring the pot again.Parader, WilsdenBantam, Two Legs and 3 others like this. -
Stop hovering to collapse... Click to collapse... Hover to expand... Click to expand...Jam, Rogered Tart, WilsdenBantam and 3 others like this.
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NorthernMonkey Squad PlayerP.L. 20/21 Entrant P.L.23/24 Entrant Supportercjunluck, BoingBoing, River_City_Bantam and 2 others like this.
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How many mentions of the stadium from Gibb in the T&A article!? Seems like Gibb is finally looking to cash in on his investment.
City-since-67, The Evidence, Kevin1954 and 2 others like this. -
This new T and A article is wrong. They stated Gibb sold the ground for £5m which is incorrect.. A quick look in the archives shows he sold the ground for £2.5m (to his pension fund) and then the offices, and car park were sold independently for another £2.5m.
http://www.thetelegraphandargus.co.uk/news/8011079.Valley_Parade_is_sold/
Despite his "love for the club" bravado, his game with Rhodes cost us badly. We paid an extortionate rent initially then he refused to discuss selling back, and made an incredibly bad decision when lawn tried to renegotiate the rent. Lawn wanted to pay less now and more rent the higher we got up the pyramid. Lawn said Gibb was stupid as we'd be in the premier league paying peppercorn rent.
And to think some people want this schiester back. Thats before we even get started on tordoffmeelin, Botswana Bantam, BoingBoing and 2 others like this. -
It was only once we were earning profits again and the club were being successful that he came back and out-bid Map. Some like to put him on a pedestal but he’s just another businessman that looks after his own interests and has no loyalty to CityStop hovering to collapse... Click to collapse... Hover to expand... Click to expand...Doodle, Damo, Eldwick Bantam and 2 others like this. -
Please for the love of Bradford City be true!!
I'll never do a midget again. Just be true!!Stop hovering to collapse... Click to collapse... Hover to expand... Click to expand...punk bantam, Ricc, Inspector and 2 others like this. -
What sort of vision for the club do you think such a consortium would bring? Would you be happy running on a deficit? The bland and blank statement 'yes it would be better' is not debate merely contrarian.Inspector, How, Batmanbantam and 2 others like this. -
Kevin1954, Silverbantam, BoingBoing and 2 others like this.
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The Lease is 25 years from 1st July, 2003.
It is a standard repairing and insuring lease used in all commercial situations.
The rent is reviewed every 5 years on the anniversary of the start date.
The review in this case is NOT based on any indexation or a review of comparable properties (the normal way) but has each new rent agreed at the signing of the Lease, thus the rent at each stage to the end of the 25 year term was known on day one.
At the end of the term the Landlord is required by Statute Law to offer a new Lease in the same terms as the old Lease, save for the rent. The Tenant has the option to accept or walk away at that point.
As others have said the Lease is for the Stadium only and never included what is now the school and school play area, that was with another party.
Nothing confidential there, hope it helps.Stafford Bantam, Storck, Gardscoigne and 2 others like this.
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