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Gordon Gibb Next Owner ?

Discussion in 'City Talk' started by Silverbantam, Oct 21, 2018.

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  1. Silverbantam

    Silverbantam Squad Player
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    Does Gordon Gibb have a good reason to buy the club because the Flamingoland pension fund owns Valley Parade and the clubs lease has less than ten years to run meaning the ground is losing value every day ?
     
    #1 Silverbantam, Oct 21, 2018
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  2. Ricky

    Ricky Squad Player
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    Not really the fund paid around £2.5m to buy the ground and are receiving £350k a year in rent so have already doubled what was paid with another £3m plus still to be paid so even if the lease isn't renewed it's been a very good return for the original outlay.
     
    #2 Ricky, Oct 21, 2018
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  3. Silverbantam

    Silverbantam Squad Player
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    But if Gibb owned the club he could renew the lease making more money for his pension company.
     
    #3 Silverbantam, Oct 21, 2018
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  4. BingleyBantam

    BingleyBantam Impact Sub

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    If the club goes tits up & cant pay the rent, which the club are currently paying late by the way, he gets nothing apart from a huge bill to dismantle the stands. The fixtures& fittings of VP at scrap value were £2m with approx because of £1m for demolition in 2014.

    When we go down to L2 the rent vs revenue ratio is larger, if we fall out of the league we are screwed.
     
    #4 BingleyBantam, Oct 21, 2018
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  5. vladimir

    vladimir Impact Sub

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    Depressingly so true.
     
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    #5 vladimir, Oct 21, 2018
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  6. Bigrod

    Bigrod Captain
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    I think there is a popular misconception about who’s pension fund it is. As I understand it, it is the Gibbs personal pension pot, ‘Gordon invested some of the family's pension fund into purchasing the freehold of the football club at Valley Parade’. https://www.telegraph.co.uk/finance/2954734/The-UKs-richest-young-entrepreneurs-30-11.html So not Flamingoland (and its employees).

    The Gibb family had owned another site ‘Pleasure Land’, which demise is covered in this link https://en.m.wikipedia.org/wiki/Pleasure_Island_Family_Theme_Park
    By having his pension separate from Flamingoland, it would seem that it would not be tied up, if difficulties were to occur in his current business.
     
    #6 Bigrod, Oct 21, 2018
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  7. Faithful Bantam

    Faithful Bantam Squad Player

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    We'll be in administration by the end of the season.

    Admin and relegation in a season....
     
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    #7 Faithful Bantam, Oct 21, 2018
  8. RonnieBrown

    RonnieBrown Emergency Backup

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    And a points penalty to see us on our way to the National League, to boot ! :(
     
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    #8 RonnieBrown, Oct 21, 2018
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  9. Storck

    Storck Regular Starter

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    Hasn’t that always been the case I remember Lawn saying he always left the rent last to pay
     
    #9 Storck, Oct 21, 2018
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  10. CT Bantam

    CT Bantam Impact Sub
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    He was talking about his maisonette Storck
     
    #10 CT Bantam, Oct 21, 2018
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  11. Edinmiarse

    Edinmiarse Fringe Player

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    And a ground share with Avenue coz it's all we can afford!
    Note: Everyone is looking down. Apart from a couple of suspects no one is looking up.
     
    #11 Edinmiarse, Oct 21, 2018
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  12. Storck

    Storck Regular Starter

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    We could take the seats with us
     
    #12 Storck, Oct 21, 2018
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  13. Silverbantam

    Silverbantam Squad Player
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    So that means he has MORE insentive to buy the club if it his own personal pension fund.
     
    #13 Silverbantam, Oct 21, 2018
  14. Bigrod

    Bigrod Captain
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    I honestly do not know what the current situation is in respect of Flamingoland, but this report suggests they were concentrating on other ventures, and at that juncture had a down turn in the group profitability. https://www.yorkshirepost.co.uk/news/flamingo-land-profits-dip-ahead-of-expansion-plans-1-8335157
    So if you are trying to develop your core business, why divert yourself to spending time/effort/money on City, when you can sit on the property and gain the rental income. In some ways it could be in Gibb’s interest for City to fail, he could then purchase the remains of the club from administrators, for a ‘knock down’ price!
     
    #14 Bigrod, Oct 21, 2018
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  15. Dennis

    Dennis Captain
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    Whilst I'm convinced that we'll stay in or around the relegation zone for the entire season, I'm much less concerned about administration. The club has no debt of its own; the owners' debt isn't a call on the club's finances; we don't have players on huge contracts and other than the rent for VP, I'm not aware of any other big long term commitments. As a club, we are still solvent. This is nowhere near the scale of 2001 and 2003.
     
    #15 Dennis, Oct 21, 2018
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  16. Onside

    Onside Squad Player
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    Gibb stated he was no longer interested in having any involvement with the club a few weeks ago. So not entirely sure why Silver Bantam has brought this up?
     
    #16 Onside, Oct 21, 2018
  17. Idlebantam

    Idlebantam Squad Player
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    Not seen a definite quote from Gibb confirming that Onside, where has he said that?
     
    #17 Idlebantam, Oct 21, 2018
  18. Onside

    Onside Squad Player
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    Sorry can’t remember but I definitely read it somewhere on social media.
     
    #18 Onside, Oct 21, 2018
  19. Silverbantam

    Silverbantam Squad Player
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    a few years ago he said he wouldnt get involved again while Julian Rhodes was still at the club. Also a few months ago there was the rumoured takeover of Gibb and Tordoff.
     
    #19 Silverbantam, Oct 21, 2018
  20. BD21958

    BD21958 Emergency Backup

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    £6m means nothing when a Club is so run down and the Business in worthless (i.e solvent but not profit making) but has paid HMRC what they`re due then the Club can be bought for £1.
     
    #20 BD21958, Oct 21, 2018
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