Worried

[samways1]

Anyone else really worried about the rumoured plan to transfer ownership of the land at Glanford Park from Scunthorpe United Football Club to Coolsilk?

Paying rent to Coolsilk for the land is all well and good whilst Swann is still here but if he wants out, or sells the club, he could charge the club whatever rent he wants and we’d be stuffed as we’d have nowhere else to go.

So many horror stories with other football league clubs who have been in a situation where they pay rent on their ground.

A lot more questions need asking on this matter.

[TwoWrights]

Time to go down the Asset of Community Value route?

[Cliff Byrne’s Right Peg]

Any links to information on this?

[samways1]

It was mentioned in the meeting between the club and supporters groups. Obviously Max Bell has tweeted details about it too.

It is currently the board’s plan for the club’s land to be assigned to its parent company, to attract a loan funding the wider development.

The writing off of existing £11m+ loans is implied, but the club would no longer own its own ground and instead pay rent to Coolsilk. pic.twitter.com/6vb2Hscd3m

— Max Bell (@Max_Bell_11) February 5, 2021

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IRONINTHEBLOOD, Cliff Byrne's Right Peg

[Cliff Byrne’s Right Peg]

Main thing to take from that is how does the land ownership deal work when the Swann’s leave town? Do we have our assets transferred and default back to paying loans ? At What rate are we buying back the assets ? Is there a leasehold contingency in place if the assets remain with Coolsilk?

[BrianIron]

At face value and in the context of the whole supporter group meeting this announcement doesn’t amount to much. Either pay interest on the loan or rent. If and it is a big if, Swann decides to leave and put the club on the market a rent paid by the new owner would be the best solution. However, if he decided to sell and required the loans repaid it would take a new owner with very deep pockets. (HCAFC scenario). As a community based stadium paying a rent would be okay, perhaps North Lincs Council would see merit in this (yeah right, over to you ARW).

Sadly IMO if Swann wants out the most likely scenario is to sell the ground and surrounding area to a developer, Coolsilk perhaps). Unless Iron-Bru could cobble together a consortium and buy the asset and pay off the loans. Pigs did fly in my previous business so who knows?

[Ferrite]

For years, people have been saying that the Football League should make it impossible to separate the ownership of a club from its main asset (i.e. its ground).

Forgive my ignorance but I don’t really see what SUFC gets out of having to pay rent on its own ground, can anyone explain?

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inspector

[vader]

We would become like Hull, but instead of paying rent to the council like they do we would be in a worse position paying rent to Coolsilk.

[Sanfran49]

Interesting in a worrying way !!

Need a philanthropist and soon.

[Ferrite]

Vader – I might be wrong but often clubs in rented grounds like the KC and Donny’s Keepmoat get a cut of everything sold in the ground as part of their deal. I wonder what their rents are like, given that West Ham got the Olympic Stadium for something like £2m a year.

[vader]

My point is we would be better off paying rent to the council than what would effectively be a private company.

[alcazar]

vader wrote:

My point is we would be better off paying rent to the council than what would effectively be a private company.

Because the council and it’s predecessor have been so supportive of the club in the past?⁶🙂

[cassidystash]

We would have to trust that any new owner negotiates a reasonable rent on a long term basis before buying. Anybody with any sort of business brain should be capable of this so hopefully shouldn’t be too problematic.

[TwoWrights]

vader wrote:

We would become like Hull, but instead of paying rent to the council like they do we would be in a worse position paying rent to Coolsilk.

Hull City Council have very little to do with the stadium, and get the square root of eff all from it. The football and rugby tenants pay rent to the Stadium Management Company which is wholly owned by the Allam’s, who in turn set the rent, so are able to ‘shuffle papers’ as to the debt owed to them. ‘Bent’ is the abridged version.

[Mick West]

He’s got us in the pincers

[Ironawe]

So he can sell the club easily now as it is worthless the new owner will just have to find somewhere else to play.

We’ll be playing at Bottesford Town in 5 years.

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North Lincolnshire Irons, alcazar

[samways1]

Now very worried…

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Deereyme66

[WonderGoals]

Only problem us now he has us right by the short and curlies. If Swannster loses interest he can simply piss off and hold the club to ransom when it comes to another person looking to buy the club.

I’m not going to lie, this puts the shits up me.

Not a bad deal for Swann….get’s land and ground for a bargain 11 million quid from the money he’s lent the club via the very same company.

I’d rather we owed him the money and kept ownership of the ground. Only problem is with him being chairman and owner of the club…nobody has had any power to go against it.

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North Lincolnshire Irons, Deereyme66, inspector

[Northumbiron]

Don’t worry lads, he’s got the interests of the club at heart and isn’t going to walk away.

He told us so on the last podcast!

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Deereyme66

[Deereyme66]

I honestly don’t see how the current situation could have been prevented by the fans and sadly I think it’s been designed that way.

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Iron-awe

[Author]

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