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The Pitch

Discussion in 'City Talk' started by Plastic Bantam, Feb 12, 2020.

  1. Fordy117

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

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    Hmmm has to bite back from banter..

    I love you too!
     
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  2. Bigrod

    Bigrod Captain
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    Football teams do move locations. Preferably City would remain in Bradford.

    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.
     
    Inspector, RCarol, Onside and 2 others like this.
  3. How

    How Knows Football
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    Are you sure? 3 million Mcburnie “self generated” us and that’s not gone back in....
     
    Onside likes this.
  4. Fordy117

    Fordy117 Just call me Mr Flip-Flop!
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    Lovely! Excellent post!

    So, City would of paid 9.25m come the end of lease plus any maintenance work like the pitch etc..

    How much would a new stadium cost?

    Bradford City would be foolish not to look into groundsharing if we can't renegotiate a better deal. Gibbs is laughing. 9.25m and owns all that land etc & watching the stadium go to pot.

    It's vital if Rupp is looking to sell then he sells ASAP because a new owner and CEO need to really start thinking about the pitch & lease of the stadium.
     
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  5. ConnecticutBantam

    ConnecticutBantam Impact Sub
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    £370,000 a year seems very cheap for the ground? Bearing in mind we will have players on close to 6/7k a week, that's nearly a years rent. I genuinely haven't a clue how much these things cost but I thought it would be closer to the £500,000 mark, if not more.

    Let's not joke around though, not having any long-term tangible assets isn't good. Again, as I made a few posts about recently, there seems to be no long term vision for the club. Money also doesn't grow on trees so who knows what the answer is.
     
    Fordy117 likes this.
  6. Park bantam

    Park bantam Regular Starter
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    On a massive squad
     
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  7. Fordy117

    Fordy117 Just call me Mr Flip-Flop!
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    30k per a month for something you really use every 2 weeks

    Then we will have to pay all the bills and maintenance.

    Not cheep if you ask me.
     
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    #87 Fordy117, Feb 13, 2020
    Last edited: Feb 13, 2020
  8. Dennis

    Dennis Captain
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    It was £370k pa nearly a decade ago and is now more than £450k pa with further increases planned per the original lease
     
    Onside likes this.
  9. ConnecticutBantam

    ConnecticutBantam Impact Sub
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    Again, I really have no idea what the going rate for a 20,000+ ground would be. Would be interesting to see what other clubs are paying for something similar.
     
  10. ConnecticutBantam

    ConnecticutBantam Impact Sub
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    Makes more sense. Still unsure whether this a good deal or a bad one in the grand scheme of things.
     
  11. Bronco

    Bronco Star Player
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    I believe until Mark, Rhodes sr & Rhodes jr bought the shop that figure might have been nearer the mark.
     
  12. Rogered Tart

    Rogered Tart Regular Starter
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    All that proves is Gibb is an astute businessman, something i would expect from a man of his acumen. I agree about your comments regarding the stadium, like any ageing structure maintenance, both long and short term, becomes an issue. It, along with the annual rent, is probably the most contentious issue when renegotiating the lease. As for club moving location, that does happen, more often than not to a new stadium, sometimes out of town such as Bolton. The question in point was not about a new stadium though, it was to potentially move to another city because lease talks have broken down. The only club i could think of thats done that is Coventry and its been a disaster for the club.
    Our club has nowhere to go, its either Valley Parade or a new stadium. Both Rhodes and Gibb know this. Both are experienced in negotiation and i expect a new lease to be signed at Valley Parade after protracted talks.
     
    Tom Hallett, Bronco and Dennis like this.
  13. How

    How Knows Football
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    If Mcburnie was not sold, what would Rupp have done then?
     
  14. How

    How Knows Football
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    Agree re Coventry. Don’t want to move thread off of its course but what a job Robins has done there with all that going on. Would have had him at city
     
  15. Bantam@{Lancs}

    Bantam@{Lancs} Impact Sub

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    I would look into building a new small stadium like Rotherhams which cost around £20m, room to expand if we ever became successful and with limited capacity you could double season ticket prices, probably unrealistic but if the Bulls were involved also it could happen.
     
  16. Dennis

    Dennis Captain
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    Mmmm. Wouldn't we need a stadium with a larger capacity than 12,000 from the get go?
     
  17. Park bantam

    Park bantam Regular Starter
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    A lot smaller budget
     
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  18. Tennesseebantam

    Tennesseebantam Important Player
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    Not if we doubled season ticket prices from the get go too.
     
  19. Bigrod

    Bigrod Captain
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    Just one question. Can you provide any evidence to back up your comment, “...we will have players on close to 6/7K a week”. Just a link to some independent source?

    This seems to suggest much lower ‘averages’, although it is two years out of date https://www.footy.com/footballers-vs-the-fans/#efl-league-one The amount for City was
    Bradford City £2,533 when we were in League 1. The highest for a then League 2 side was MK Dons with £2,228.
     
  20. Onside

    Onside Squad Player
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    He doesn’t have to be astute. He knew we were desperate and would accept the best deal on offer, he probably knew what the others were offering as well. I could negotiate a deal like that. I really don’t have any answers as to what we do. I actually don’t think we should tie ourselves into a long term deal, 10 years max.
     

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