Ground Valuation

[ironking]

The last time the ground was valued was 2001 and it was valued at 5.5 million.

So its only doubled in value in 20 years?

Mmmmmmmmmmmmmmm

[MK Iron]

The ground is worthless except to the football club.

Did not the chairman state (quite a few years ago) that the sale of the land would cover the 18 million build cost of his first proposed new stadium complex.

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North Lincolnshire Irons, alcazar

[Sanfran49]

But the ground hasn’t been sold.

Neither is there a new ground.

The ground has gone to cover pay off of the debt incurred at the club.

[WonderGoals]

That was before he fell out with the council every other weekend.

I think it’s fair to say that things are frosty on that front.

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North Lincolnshire Irons, StainlessIron, alcazar

[RoamingBull]

Easy way of getting out of the new ground.
Have issues with the local council.

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North Lincolnshire Irons, alcazar

[ironking]

The ground may or may not be of any value.

Ernest has taken this as a piece of real estate that will only go up in value.

Remember in a year or so it will not have a football league club on it,a year or two later no ground on it.

Has anybody seen the terms of the 999 year lease and who signed it on behalf of us the supporters?

Just one more false promise.

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North Lincolnshire Irons

[Northumbiron]

In his statement Swann says security of tenure for 100 years!

[SODIron]

Other than the 100 year tenure there appears to be a significant lack of any concrete guarantees or announced timescales in the statement.

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IRONINTHEBLOOD

[DarrynStampGoalMachine]

Northumbiron wrote:

In his statement Swann says security of tenure for 100 years!

Presumably though if he sells the club that won’t be guaranteed if he can’t come to an agreement on rent with the new owners?

[North Lincolnshire Irons]

It’s fair to say as well that Swann falls out with everyone! Managers, supporters, players and even the local council.

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inspector

[North Lincolnshire Irons]

Can I ask the question would it be fair to say that the stadium, land and assets have been stolen from the Club?Just asking the question. Yes or no.

[Northumbiron]

Depends on who or what is “the club”!

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alcazar

[Deereyme66]

Depends what your definition of ‘stolen’ is.

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alcazar

[Bucksiron]

No. Land that GP is on was prime retail when Swann took over but bricks and mortar retailing has crashed since then, especially over the past 12 months due to covid, which has accelerated the move to online shopping.

People also have to take into account the tax implications. As far as I understand it the sale of land is subject to CGT but becomes much more complicated when development land is concerned. On a deal of this size, especially, HMRC is likely to be very interested in the valuation used.

Swann will have good tax advisers but that is perfectly legal and sensible for any business transaction. People might not be happy about what’s happened but that doesn’t mean there’s a smoking gun anywhere.

[Heath]

“bricks and mortar retailing has crashed since then, especially over the past 12 months due to covid, which has accelerated the move to online shopping”.

Thanks as ever for your “expert” knowledge. I wasn’t aware of the problems in retail.

[Deereyme66]

Who owns the GP bricks and mortar now?

[Author]

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