Quick question. Will the outcome of the PST court case have implications for the mighty tigers? As I understand it, The PST has offered £2.75 million for Fratton park despite it being held against a £17 million pound charge. The argument would seem to be that it is only woth something to a football club and therefore has no actual real value. If the PST win would this affect the valuation of other football stadia? If anyone has followed this story has an opinion or some local knowledge possibly and has any views on this, feel free to let us know which way you think the wind is blowing. One last question, If Hull City Council were to put a for sale sign on the KC stadium, what sort of price do you think the stadium could achieve?
I'm not sure the Portsmouth stadium sale situation is representative of other stadia. The sale is a distressed asset so it's sure to be undervalued. However, it wouldn't surprise me if Portsmouth are kicked our of the league. They HAVE to exit admin before the end of season and I'm sure Chainrai (who will hold the deeds I'm sure) will play awkward if he loses the court case.
The Leicester owners have just bought the KP crisp bowl for £17m, so it seems they're generally valued at far less than the build cost. If the KP is worth £17m, then £2.75m doesn't seem unreasonable for Fratton Park, it's falling down(it also has a covenant on it, preventing it from ever being anything other than a sports ground).
I think the Stadium devalues the land. Vacant land could be used for a number of things, a field surrounded by seats that can in general only be used for football and rugby, limits the value of the land it stands on as well as the adjacent area. People seem to quote the circa £50mill building cost as the value of the stadium, without realising that figure includes various non-stadium charges. It's also fairly irelvent to the current stadium value.
£17 million for the crisp bowl which does not have any protected susidised tennants. The value offer for the KC stadium could be far less than people imagined.
I think this has always been the problem, most peoples expectations of price for the KC is hugely over stated. The way in which the Allems went about their approach was not clever, but the council need to take their heads out of their arses and start dealing with the real issues involved.
If the Lib Dems take control of HCC at the next elections then the whole KC ball game could well change. imo,.
I would have to agree with this. At this point, even if they offered to meet the full book price of the stadium and wheelbarrow the money round to the guildhall in cash, people would still cry foul.
Sadly I fear westhulltiger will be proved right. Too many seem incapable of voting for anyone other than Brady and his idiots
as i have stated previously, nick clegg has ensured that hull will be solid red for years to come. indeed, that also consigns its population to the scrap heap. the east riding is the future of this area's development
I cling onto the hope that one day the people of Hull will awake from their somnambulistic political allegiance.
Did'nt Boothferry Park have a similar covenant? I seem to remember this from the David Lloyd days. So there must be a way they can be removed.
Fratton Park is a very interesting story of greed and corruption. Chandri effectively bought the stadium for very little, but then loaned the club 17m, he converted the loan into rent for the stadium, when the club went into administration. Now he values it at 17m. In essence he s trying to recoup his loan by selling the stadium. It is a total farce. The bloke has no interest in the game and if he can outlast the administration process he will gain a club that once again is debt free and is still capable of getting big gates. Even Harry Rednapp will gain.
The covenants are there for protection, they can be removed, but it takes the agreement of everybody involved.
