And what's the legacy of that windfall? An enduring deficit, no assets of our own, League 2 football and a plodding squad with few, if any, saleable assets.
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Most liked posts in thread: The Pitch
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Stop hovering to collapse... Click to collapse... Hover to expand... Click to expand...bantamdave41, ConnecticutBantam, Naz Nomad and 6 others like this.
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Let's put it clearly. We do not have any kind of bargaining position with the Pension Fund. We have a lease on the ground for another 8 years (not 10 years as you and somebody else has posted) and short of going into administration, there is no way to change that. IWe will have to look at other options in a few years time as the lease runs down but we are stuck with it for the time being whether we like it or not. And no threat of ground sharing in the near future is going to change the situation.
Do you remember when ML tried something similar with the PF a few years ago and threatened to move to Odsal with 'his' lighting and seating? That didn't work either at the time and I've heard nothing from you or anybody else why a similar threat should work on this occasion. Get real!Inspector, WilsdenBantam, Allotment Bantam and 6 others like this. -
Went to the game yesterday. As a former Groundsman at Plymouth Argyle (now living in Yorkshire) I always take an interest in the pitch. I'm pleased that no one is the blaming the groundstaff. We got loads of grief at Plymouth, all of it unjustified. We had major issues and then the club decided to hold concerts, which was the death nail for the pitch. The club budgeted around £600k for a fibre-lastic pitch. That was 10 years ago so add at least 10% to that now. You get what you pay for, buy cheap buy twice. Good luck!
Botswana Bantam, How, Utters0 and 5 others like this. -
Rogered Tart Regular StarterP.L.22/23 Entrant P.L.23/24 EntrantAndy10, Fools Gold, The Granby Mullet and 4 others like this.
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Offcomedun Important PlayerQatar 2022 Entrant P.L.22/23 Entrant P.L.23/24 Entrant Supporter Euro2020 Winner Euro 2020 P.L. 20/21 3rd Place
The current state of the pitch therefore seems likely to be caused by us skimping on necessary routine maintenance last summer. I can't remember where I read that we did that, but it seems to have been false economy that is now biting us on the bum.JudgeMental, Onside, WIBSEY GAWBER and 3 others like this. -
RCarol, WilsdenBantam, Bronco and 3 others like this.
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We should ask Carlisle United for advice. On Boxing Day their pitch looked like it hadn't been played on! And that that area floods from time to time. Do they have a large budget for the playing area? I doubt it.trevor, Onside, dn14bantam and 2 others like this. -
Rogered Tart Regular StarterP.L.22/23 Entrant P.L.23/24 EntrantInspector, Faithful Bantam, Bronco and 2 others like this.
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The ownership of the ground went to the Gibbs pension fund in 2003 https://www.thetelegraphandargus.co.uk/news/8011079.valley-parade-is-sold/
In 2011 a dispute about the rent came to light, which in an article, It stated, “City pay £370,000 per year to the family pension fund of former chairman Gordon Gibb, who bought the stadium for around £2.5m in 2003 at the height of the financial troubles that followed a two-year stay in the Premier League“. https://www.yorkshirepost.co.uk/sport/football/bradford-city/exclusive-bradford-city-could-quit-valley-parade-over-rent-costs-1-3285007
If City is paying somewhere in the region of the figure quoted, then the Gibbs ‘family pension fund’ will have accumulated around £9.25m when the lease expires.
The Bank of England inflation calculator suggests that inflation would mean that £2.5m in 2003 would now be worth around £4m. Whereas the Gibbs family pension fund will have cleared around £6.29m in 2020 (based on an average of £370,000 per annum) and at the end of the lease will have earned the figure I mentioned above of around £9.25m!
That to me seems to be an exceptional return, given that they will still own the land and have the potential to make a further substantial profit.
The stadium is deteriorating and the pitch very poor. No major upgrades in the fabric have taken place since the completion of the North West corner. The other sections of the ground are largely as they were, when construction was completed. Normal wear and tear, and supporters expecting a better match day experience, suggests that there should be updating. If the landlord will not undertake it (it is their asset) then the tenant needs to negotiate a reduced rent and with the released cash, ‘ring fence it’ and use the money to improve the stadium.
Happy if anyone who has a more detailed knowledge of the finances, shares the information. -
Rogered Tart Regular StarterP.L.22/23 Entrant P.L.23/24 EntrantHow, Bantamsteve, The Granby Mullet and 2 others like this.
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donhutchinsaffro Regular StarterP.L.23/24 Entrant Supporter
Keefly stop moaning we are unbeaten in 5 weeks dude
Jay, Keefly Bantam, Storck and 2 others like this. -
Rogered Tart Regular StarterP.L.22/23 Entrant P.L.23/24 EntrantCrucian Carp, Fools Gold, How and 1 other person like this.
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trevor, WilsdenBantam, Bantamsteve and 1 other person like this.
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Interested Bystander, WilsdenBantam, Jordan and 1 other person like this.
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Are you two seriously suggesting we share Elland Road??????
Inspector, Bantamsteve, Rogered Tart and 1 other person like this. -
Not having a go but are the City ground staff up to the job once a new surface is layed ?.WilsdenBantam, Onside, The Granby Mullet and 1 other person like this. -
Rogered Tart Regular StarterP.L.22/23 Entrant P.L.23/24 EntrantWilsdenBantam, Onside, Park bantam and 1 other person like this.
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absolute disgrace looks like Rhodes saving a few quid on avoiding any maintenance last summer is going to cost the club a lot more than he saved, preventative maintenance is always cheaper than having to start again Rhodes needs to stop penny pinching in the wrong places
Inspector, Onside, Faithful Bantam and 1 other person like this. -
How, Fordy117, Bantamsteve and 1 other person like this.
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Look around, grass has bee'n growing everywhere, local parks, in your gardens, local sport pitches, fields, it's even growing up through paths. But it won't grow at Valley Parade will it, it really is one of the worlds great mystery's The club should have open days so coach parties could come and witness this great phenomenon. I know it's hard to get grass to grow out of concrete, wood and plastic but an old chap told me if you use good soil and the right seed you will be ok. The same old chap was amazed how a pitch could not drain on a pitch that was situated on sloping land
Botswana Bantam, Aaron Baker, Bantamsteve and 1 other person like this.
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