Joined: Oct 04 2008 Posts: 21040 Location: wakefield
MOPSEY LIVES ON wrote:I've done quite a bit of digging this morning and come up with this. The club which were run by mc and jm at the time bought the freehold to bv including the car park for 3.1 million with the help of the council who loaned us the money. The loan was not paid back as the stand is just finished so Ellis took control of all of the freehold and all that goes with it. However even if he owns the ground he can only sell with the councils permission as a covenant on the deeds stipulate that. Also he could only sell it to someone who will continue to use it as a sports stadium, sport England can also prevent a sale unless another facility is built nearby. The stadium is safe and he could only sell to someone who would continue to operate the club. The car park could technically be built on but only if it is some benefit to the club. I think Ellis as great plans for our club and we're in safe hands
That is all there to protect the club from someone who does want to sell to make houses.
A dog is not considered a good dog because he is a good barker. A man is not considered a good man because he is a good talker - Buddha
When covenants are put in place on a property it stands as set up, however, covenants are not forever. Wakey T, had a previous covenant & was bought out of by I believe Ted, covenant set up when trinity started to play there ! Covenants like Listed buildings can & are removed by agreements at a price/cost, ie total value so high & pay off being substantially lower, remember companies can for close & cease trading, assets fixed & fluid realised & paid to investors/owners, Ltd in companies means limited liabilities ! One problem would be future Planning policies enabling its use in building etc, but councils are fickle when needing cash !
Joined: Oct 26 2006 Posts: 13819 Location: No bowl, stick, STICK!
newgroundb4wakey wrote:Apologies in advance if it's been asked before but is the £3.1 million still owed to the council.
Can't imagine why it wouldn’t be? I know Ellis has some cash but I don't think he can outlay a massive chunk like that in one go, especially as there will be a repayment plan in place.
As an aside, I feel an 'audience with' would be very beneficial. ME was going to attend one just prior to his purchase of the club but dropped out last minute as the deal hadn't gone through. After an initial barrage of information, it's dropped off a tad, so it would be interesting to know how things are progressing with the off field stuff as well as on it.
Joined: Aug 01 2007 Posts: 4130 Location: IN A FIELD LOOKING AT THE STARS
Khlav Kalash wrote:Can't imagine why it wouldn’t be? I know Ellis has some cash but I don't think he can outlay a massive chunk like that in one go, especially as there will be a repayment plan in place.
As an aside, I feel an 'audience with' would be very beneficial. ME was going to attend one just prior to his purchase of the club but dropped out last minute as the deal hadn't gone through. After an initial barrage of information, it's dropped off a tad, so it would be interesting to know how things are progressing with the off field stuff as well as on it.
I actually spoke to someone last week to see if Ellis would be interested in going into the community on different nights and building from within. A Q and A in normy, sharlston, Horbury for example. The reply was positive and that he also wanted to get audience nights at the club up and running. He was working his way through about 50 things and then he'd be sorting it out.
WAKEFIELD FANS ARE BORN, NOT MANUFACTURED.WE DO NOT CHOOSE, WE ARE CHOSEN. THOSE WHO UNDERSTAND NEED NO EXPLANATION. THOSE WHO DONT, DONT MATTER.
Joined: Oct 11 2004 Posts: 5320 Location: Orange street
I am not bothered about a q and e night from Matt Ellis. I believe in the old saying that actions are louder than words. From what we have seen so far is plenty of action and i am extremely happy in the direction he is taking the club. Just sit back, relax and enjoy the ride.
Joined: Jan 10 2019 Posts: 2776 Location: Horbury, a small town in Wakefield
newgroundb4wakey wrote:Apologies in advance if it's been asked before but is the £3.1 million still owed to the council.
Yes, i believe it is. I’m not sure if any annual repayment to the council loan has actually been made yet, but just before M Ellis took control of the club, John Minards released a statement saying they were due to start negotiations with the Council over the repayment due to relegation (loss of Sky funding ). Nothing has been said from the new management regarding repayments to them council.
Joined: Oct 12 2005 Posts: 4236 Location: Barnsley
Dunkirk Spirit wrote:Yes, i believe it is. I’m not sure if any annual repayment to the council loan has actually been made yet, but just before M Ellis took control of the club, John Minards released a statement saying they were due to start negotiations with the Council over the repayment due to relegation (loss of Sky funding ). Nothing has been said from the new management regarding repayments to them council.
I don't understand your reference to an "annual payment".
The payments are surely monthly and Carter has previously been on record as saying we were fully up to date with payments.
We've owned the ground for a few years now, so more than one payment would have been made, even if it was annual.
Joined: Oct 11 2004 Posts: 5320 Location: Orange street
My understanding was the ground loan had a payment holiday to a maximum of 5 yeras OR from the date the stand came into use. Carter would thetefore have not have had to repay anything during his tenure. If anyone knows different, i will stand to be corrected
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