RC55 FFC Posted March 3, 2023 Share Posted March 3, 2023 Rental from bar & gym already goes to FFC doesn’t it? Buying the stand would simply stop the rent each year which wouldn’t be a bad thing but obviously depends on how much, not a situation we need to think about in the current climate though. 1 Quote Link to comment Share on other sites More sharing options...
latapythelegend Posted March 3, 2023 Share Posted March 3, 2023 13 minutes ago, RC55 FFC said: Rental from bar & gym already goes to FFC doesn’t it? Buying the stand would simply stop the rent each year which wouldn’t be a bad thing but obviously depends on how much, not a situation we need to think about in the current climate though. I have no idea in all honesty. 0 Quote Link to comment Share on other sites More sharing options...
Harry Kinnear Posted March 3, 2023 Share Posted March 3, 2023 If I was an elderly rich person who owned a stand, I would maybe think about gifting it to the club I love and have supported all my life………….. only saying if. 7 Quote Link to comment Share on other sites More sharing options...
Disco Duck Posted March 3, 2023 Share Posted March 3, 2023 1 hour ago, Duncan Freemason said: Not necessarily so. For one thing, there are multiple owners. The KM7 Stand was financed by SA, and a rent has been paid every year since. I think in this last year, it was £85,000. If SA has had his capital investment back in the intervening years, then who knows, perhaps a single lump final payment might be enough for the Stand to become a Club asset. If it could be had (for argument’s sake) for £250k (or something in that ballpark), it would represent good longer term value to the club. It would be capital expenditure, not operating expenditure. Not paying that rent for four years or so, and it effectively pays for itself thereafter. Pure conjecture on my part…..SA might want significantly more. £250k. Are you on glue? 0 Quote Link to comment Share on other sites More sharing options...
Guest Posted March 3, 2023 Share Posted March 3, 2023 4 minutes ago, Disco Duck said: £250k. Are you on glue? What do you think SA would want for it? 0 Quote Link to comment Share on other sites More sharing options...
LatapyBairn. Posted March 3, 2023 Share Posted March 3, 2023 (edited) 15 minutes ago, Harry Kinnear said: If I was an elderly rich person who owned a stand, I would maybe think about gifting it to the club I love and have supported all my life………….. only saying if. Not sure if they have any foundation to them but the rumours have always been that SA has left the KM7 stand to the club in his wil. Edited March 3, 2023 by LatapyBairn. 1 Quote Link to comment Share on other sites More sharing options...
Disco Duck Posted March 3, 2023 Share Posted March 3, 2023 1 minute ago, Back Post Misses said: What do you think SA would want for it? I have no idea but if the rent is £85k then he’d be daft to sell it for anything resembling that. 0 Quote Link to comment Share on other sites More sharing options...
Reggie Perrin Posted March 3, 2023 Share Posted March 3, 2023 17 minutes ago, Harry Kinnear said: If I was an elderly rich person who owned a stand, I would maybe think about gifting it to the club I love and have supported all my life………….. only saying if. Maybe the elderly rich persons relatives would have an opinion on that. 0 Quote Link to comment Share on other sites More sharing options...
LatapyBairn. Posted March 3, 2023 Share Posted March 3, 2023 1 minute ago, Disco Duck said: I have no idea but if the rent is £85k then he’d be daft to sell it for anything resembling that. Or maybe rather than being “daft” he’d be acting as a philanthropic life long Falkirk fan in his elderly years who already has more money than god anyway. 0 Quote Link to comment Share on other sites More sharing options...
LatapyBairn. Posted March 3, 2023 Share Posted March 3, 2023 1 minute ago, Reggie Perrin said: Maybe the elderly rich persons relatives would have an opinion on that. They may 0 Quote Link to comment Share on other sites More sharing options...
Harry Kinnear Posted March 3, 2023 Share Posted March 3, 2023 10 minutes ago, Reggie Perrin said: Maybe the elderly rich persons relatives would have an opinion on that. Maybe they would 0 Quote Link to comment Share on other sites More sharing options...
NavyBlueArmy1876 Posted March 3, 2023 Share Posted March 3, 2023 We've been paying SA £75-85k a season in 'rent' for the last 13 years, or just over £1m in total. Given it cost around £3m to build at the time he's still got a fair way to go before getting his money back 0 Quote Link to comment Share on other sites More sharing options...
Kevin James Left Knee Posted March 3, 2023 Share Posted March 3, 2023 PERSONAL VIEW - I wonder how many people would hand over an asset work say 1/5th of all their assets for free? Say their new car? I do think people are ungrateful at times for the soft loan that is the MK stand. It is easy to spend someone else's money. 4 Quote Link to comment Share on other sites More sharing options...
Zbairn Posted March 3, 2023 Share Posted March 3, 2023 32 minutes ago, NavyBlueArmy1876 said: We've been paying SA £75-85k a season in 'rent' for the last 13 years, or just over £1m in total. Given it cost around £3m to build at the time he's still got a fair way to go before getting his money back Don’t think it was £3 mill. to build. Heard it was nearer £1.5 mill. Therefore, not such a bad idea to try and buy it, considering the cash it has generated over the years for SA. To gift it to the fans at a knock down price, would be a lasting legacy. 0 Quote Link to comment Share on other sites More sharing options...
Zbairn Posted March 3, 2023 Share Posted March 3, 2023 3 minutes ago, Kevin James Left Knee said: PERSONAL VIEW - I wonder how many people would hand over an asset work say 1/5th of all their assets for free? Say their new car? I do think people are ungrateful at times for the soft loan that is the MK stand. It is easy to spend someone else's money. Slightly different scenario if your total assets are £5 million, compared to £500. To be left with only £4 million is still pretty dandy. Notwithstanding the cash it has already generated for him. 0 Quote Link to comment Share on other sites More sharing options...
Disco Duck Posted March 3, 2023 Share Posted March 3, 2023 36 minutes ago, NavyBlueArmy1876 said: We've been paying SA £75-85k a season in 'rent' for the last 13 years, or just over £1m in total. Given it cost around £3m to build at the time he's still got a fair way to go before getting his money back That makes more sense to me. If he’s only charging rent at a net yield of c2.7%, that’s way below what the club would merit - so the “give” to the club is the rent is low. 0 Quote Link to comment Share on other sites More sharing options...
Kevin James Left Knee Posted March 3, 2023 Share Posted March 3, 2023 (edited) 4 minutes ago, Zbairn said: Slightly different scenario if your total assets are £5 million, compared to £500. To be left with only £4 million is still pretty dandy. Notwithstanding the cash it has already generated for him. So let's say 1.5million out of £5million - pretty much one third of your assets. Now I have no idea who you are but let's say you own a house worth £100,00. Will you give the club £30,000 as a donation from your relative worth? Edited March 3, 2023 by Kevin James Left Knee 0 Quote Link to comment Share on other sites More sharing options...
Guest Posted March 3, 2023 Share Posted March 3, 2023 (edited) 30 minutes ago, Kevin James Left Knee said: PERSONAL VIEW - I wonder how many people would hand over an asset work say 1/5th of all their assets for free? Say their new car? I do think people are ungrateful at times for the soft loan that is the MK stand. It is easy to spend someone else's money. I think Sandy should be thanked for all he’s done for the club but it’s still a question worth asking. As far as we know the money we’ve paid so far is just rent. If it was a soft loan then would still be great to know how much was left and see if there was a chance to raise it. If we could save £85k a year then could buy 3 players with that money. Edited March 3, 2023 by Van_damage 0 Quote Link to comment Share on other sites More sharing options...
grumpyoldman Posted March 3, 2023 Share Posted March 3, 2023 (edited) 1 hour ago, Zbairn said: Don’t think it was £3 mill. to build. Heard it was nearer £1.5 mill. Therefore, not such a bad idea to try and buy it, considering the cash it has generated over the years for SA. To gift it to the fans at a knock down price, would be a lasting legacy. Stand in the accounts at just shy of £2m, it is owned by South Stand Development Company Limited. The club have one share in this company. https://find-and-update.company-information.service.gov.uk/company/SC324749 Edited March 3, 2023 by grumpyoldman 0 Quote Link to comment Share on other sites More sharing options...
HoBNob Posted March 3, 2023 Share Posted March 3, 2023 11 minutes ago, Zbairn said: Don’t think it was £3 mill. to build. Heard it was nearer £1.5 mill. Therefore, not such a bad idea to try and buy it, considering the cash it has generated over the years for SA. To gift it to the fans at a knock down price, would be a lasting legacy. Surely building the stand should be a pretty good Legacy? It doesn't sound like it's generated any money for him yet, the yearly rental won't have covered the costs of building the stand. However surely it can't be argued that is has generated money for Falkirk? I'd imagine it's got a higher capacity than the gazebo, plus you have the bar etc in the stand? Your deal with the council sounds shitty, but this guy seems to have done the club a solid. While he has his own interests he has undoubtedly had the clubs interests at heart aswell. It's doubtful he'll have the club over a barrel. 12 Quote Link to comment Share on other sites More sharing options...
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