it has been announced that the club is to be sold to an irish consortium, from whom peter ridsdell is buying the football side of the business. there are to be negotiations with and further pruning of management, office and playing staff. presumably the irish consortium are leasing renting the ground to the club. argyle have gone from a succesful championship club to a L2 club and facing a lot of consolidation in the new division. great though their magnetic manager peter reid is i cannot see argyle in the top 10 for the next couple of seasons, that is if peter reid stays. once he has his 8 months wages he may be off to pastures new. come on gt in your windswept luxury caravan holiday in borth there are bargains to be had at home park. and uncle rowland stir your loins in equally windswept fairbourne, splash the cash and change that ruddy awful badge. town will never win anything with that ruddy awful lenny the lion badge. floreat salopia and best of luck green army
http://news.bbc.co.uk/sport1/hi/football/teams/b/bradford_city/9494920.stm Following their relegation from the Premier League in 2001, the ground was sold to the pension fund of Gibb for around £2.5m and subsequently rented back to the club ... The club were paying around £700,000 a year in rent to PRUPIM and the pension fund of former chairman Gordon Gibb, the owners of Valley Parade. It sounds like this consortium will do what happened at Bradford. Imagine buying a ground for £2.5m and renting it back for 700k for a quick return on your profits?
I wish my pension fund achieved a guaranteed 28% return on its capital! You have to wonder how so many clubs seem to sleepwalk into these situations. Or perhaps it's just that the club's decision makers and the main beneficiaries of these arrangements so often seem to be one and the same. The moment the stadium leaves a club's balance sheet, the rocky road to ruin has begun. Well, that and when the club continues to pay unsustainable wages that it clearly can't afford.
this is not quite a done deal yet, confirmation will follow, in the meadow argyle remain in dickies meadow
