Quantcast
  1. Welcome to Bantam Talk

    Why not register for an account?

    Not only can you then get fully involved in the community but you also get fewer ads

  2. Premium Membership now Available


    Please see this thread for more details

    Dismiss Notice

Most liked posts in thread: Gibb to return ?

  1. Chris Withe

    Chris Withe Fringe Player

    Joined:
    May 29, 2018
    Messages:
    412
    Likes Received:
    1,080
    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.
     
  2. Old city man

    Joined:
    Jun 12, 2018
    Messages:
    1,200
    Likes Received:
    1,548
    Hey hey! At least we'll own our own ground!
     
  3. Ricc

    Ricc Impact Sub

    Joined:
    Apr 16, 2018
    Messages:
    2,704
    Likes Received:
    5,762
    this would be brilliant for the club.


    one can only hope.
     
  4. Inspector

    Inspector Squad Player
    P.L.22/23 Entrant Supporter

    Joined:
    Apr 14, 2018
    Messages:
    3,263
    Likes Received:
    7,334
    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.
     
    #44 Inspector, Jul 9, 2018
    Last edited: Jul 9, 2018
  5. Lard Arse

    Lard Arse Impact Sub
    P.L.22/23 Entrant P.L.23/24 Entrant Supporter

    Joined:
    Apr 13, 2018
    Messages:
    1,988
    Likes Received:
    3,166
    It was a direct quote from the Journalist whom spoke to Gibb. I would suggest he wouldn't have gone on the record with his chat without GG's prior knowledge
     
  6. Bronco

    Bronco Star Player
    P.L.22/23 Entrant P.L.23/24 Entrant Supporter Euro 2020 P.L. 20/21 Top 30

    Joined:
    Apr 8, 2018
    Messages:
    38,453
    Likes Received:
    41,637
    I'll agree we have certainly found ourselves in the easier group, but fluke, nah, in the games we've played we haven't looked in any danger, I believe we have a very good chance of beating Croatia, and then the Final is a one off game, France or Belgium would be favorites without doubt but I wouldn't right England off even in that situation.
     
    meelin, Inspector, Doodle and 3 others like this.
  7. Ulysses S Grant

    Ulysses S Grant Squad Player
    P.L.22/23 Entrant P.L.23/24 Entrant

    Joined:
    Apr 12, 2018
    Messages:
    11,537
    Likes Received:
    15,036
    I think everyone is confused here. The pension fund isn’t the gibb family pension fund.

    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...
  8. BoingBoing

    BoingBoing Emergency Backup

    Joined:
    Apr 14, 2018
    Messages:
    4,120
    Likes Received:
    4,503
    James felt he was being backed into a corner and the relationship with Edin at a point where he felt he had no other choice but to part company. He felt the need to quit and was gutted at having to make that decision.

    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 book
     
    Stop hovering to collapse... Click to collapse... Hover to expand... Click to expand...
  9. abbomf

    abbomf Emergency Backup

    Joined:
    Apr 9, 2018
    Messages:
    1,225
    Likes Received:
    1,623
    Bollocks! Would you say the same having supplied BCFC with goods/services and been rewarded with 1p for every £1 they owed you? Would you fook. BCFC screwed a lot of folk, for the second time in 2 years. There is not just 1 bad guy.
     
    #324 abbomf, Jul 14, 2018
    Last edited: Jul 14, 2018
    Offside, Briggus, CT Bantam and 3 others like this.
  10. Dennis

    Dennis Captain
    Moderator Supporter

    Joined:
    Apr 8, 2018
    Messages:
    5,998
    Likes Received:
    15,099
    That is way out of line! And so typical of ML to exaggerate the real situation.

    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.
     
  11. Campbell's soup

    Campbell's soup Impact Sub
    Supporter

    Joined:
    Apr 9, 2018
    Messages:
    8,122
    Likes Received:
    13,690
    £500 can help you get £250m of Nigerian Royal Family gold - the King died 25 years ago and a solicitor has access to it - I’ll forward you the mail. No need to thank me.
     
    Stop hovering to collapse... Click to collapse... Hover to expand... Click to expand...
  12. Jam

    Jam Fringe Player

    Joined:
    May 19, 2018
    Messages:
    279
    Likes Received:
    385
    Just seems like going backwards to me, does Gibb think there's more to be squeezed out of the club now it's in a more stable financial/infrastructure state.
     
    Jay, Stevay_b, banbrotam and 2 others like this.
  13. NorthernMonkey

    NorthernMonkey Squad Player
    P.L. 20/21 Entrant P.L.23/24 Entrant Supporter

    Joined:
    Apr 10, 2018
    Messages:
    9,782
    Likes Received:
    19,396
    Or light hearted sarcasm. It depends how much of a snowflake you are.
     
  14. Fuzzy

    Fuzzy Impact Sub

    Joined:
    May 9, 2018
    Messages:
    665
    Likes Received:
    1,091
    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.
     
  15. Dratsab taf

    Dratsab taf Squad Player

    Joined:
    Apr 18, 2018
    Messages:
    1,570
    Likes Received:
    2,704
    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 tordoff
     
    #90 Dratsab taf, Jul 9, 2018
    Last edited: Jul 9, 2018
  16. BoingBoing

    BoingBoing Emergency Backup

    Joined:
    Apr 14, 2018
    Messages:
    4,120
    Likes Received:
    4,503
    Isn’t that exactly what Jack did? He sponsored us for years, then when we hit the buffers and needed the support, he walked away. We ended us signing up with Bradford & Bingley until they went bubble. Did Jack come back in to save us? No, it was left to Map to save the day.

    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 City
     
    Stop hovering to collapse... Click to collapse... Hover to expand... Click to expand...
    Doodle, Damo, Eldwick Bantam and 2 others like this.
  17. Fordy117

    Fordy117 Just call me Mr Flip-Flop!
    Bubbles car wash

    Joined:
    Apr 8, 2018
    Messages:
    17,460
    Likes Received:
    14,505
    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.
  18. Jam

    Jam Fringe Player

    Joined:
    May 19, 2018
    Messages:
    279
    Likes Received:
    385
    In what ways do you feel the club would be better run? Do you honestly feel there would be better/more investment? Better players brought in, the potential in our recruits is better imo than it has been for a while, and yes it is only potential at the moment. Think the pitch work to the depth and quality of the work would have been carried out? Would services have been brought back in-house?

    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.
  19. dusseldorf_bantam

    dusseldorf_bantam Emergency Backup

    Joined:
    Apr 9, 2018
    Messages:
    18
    Likes Received:
    26
    You know that's a pretty standard practice among company owners. Put your wife on the payroll to spread your salary out so you pay less tax. A loophole the government could close but don't want to.
     
  20. wetherbywhaler

    wetherbywhaler Impact Sub

    Joined:
    Apr 14, 2018
    Messages:
    1,700
    Likes Received:
    4,922
    Fishing Bronco?, I assume you mean me. Sorry in detail terms the Lease content is confidential between the parties but it is a matter of record that:-
    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.
     
  1. This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
    By continuing to use this site, you are consenting to our use of cookies.
    Dismiss Notice