All things Dundee FC

[Twinkle]

9 hours ago, Yenitit said:

firstly they do own it. Secondly Keyes definitely has the money for it

Firsty they own part of that land. Secondly if they were that rich, they wouldnt still be scrambling around for more financing 5  years down the road

[Crawford]

2 minutes ago, Twinkle said:

Firsty they own part of that land. Secondly if they were that rich, they wouldnt still be scrambling around for more financing 5  years down the road

There are a lot of variables involved in this and I think you are talking about the refinancing of shares so they could apply for group tax relief when building.

That's saving £300k+ depending on the total cost. 

They have the desired stake needed for it and then rona happened.

 

[Big Shedboy]

There's only really one factor at play here. This is DFC we're talking about.
 

Of course it's not going to happen!

[Derry Alli]

1 hour ago, Twinkle said:

Firsty they own part of that land. Secondly if they were that rich

Come on now lad. 

[Robin.Hood]

15 hours ago, Twinkle said:

Firstly they dont own the land and secondly they dont have the money for it. 

Has went from they don't own the land to they own part of it? 

[Robin.Hood]

1 hour ago, Crawford said:

 I think you are talking about

 

He hasn't a clue.

Waiting for a third answer. Sure we will get their  

[Big Shedboy]

3 minutes ago, Robin.Hood said:

He hasn't a clue.

Waiting for a third answer. Sure we will get their  

Or there. Whatever.

[Robin.Hood]

Just now, Big Shedboy said:

Or there. Whatever.

Yes. A waiting game. 

[Derry1893]

2 hours ago, Twinkle said:

Firsty they own part of that land. Secondly if they were that rich, they wouldnt still be scrambling around for more financing 5  years down the road

Rich people are rich because they don’t use their all their own money when carrying out projects like this as that carries a lot of risks. As some else pointed out there are often other benefits to partnering up with others. Look at the mess splashing money has got clubs in. Making sensible financial/business decisions is probably one of the things the current owners are good at but football or soccer I’m not too sure.

[RossBFaeDundee]

Dee4Life have sent a letter to the club asking for clarifications regarding the recent "update" regarding the proposed new stadium, asking 16 questions to be exact.

Spoiler

1. What is the estimated cost of the Camperdown stadium project and, in in view of hugely escalating building material costs, is it still viable?

2. What are the anticipated timescales for moving to Camperdown and what does this mean for the club potentially having to groundshare?

3. Have previous issues around traffic access and sewage/drainage etc been resolved to the satisfaction of the stakeholders?

4. If the answer to Q3 is yes, why has a planning application never been lodged?

5. Is the Crematorium part of the project still viable after the application for a similar facility in another part of the city? It has been pointed out that existing plans do not appear to include a garden of remembrance and the nature of other elements of the project such as a hotel, housing, a leisure complex and a concert venue appear to be incongruous neighbours for such a facility.

6. Can you provide an update on negotiations to purchase Dens Park from John Bennett?

7. In the event of Dens Park being purchased by FPS, why must it be sold before the new stadium is built? Surely a deal can be done whereby Dens is sold in advance but only released from its current use once a new stadium has been developed?

8. Is, in fact, the whole plan predicated on the sale value and income generated from the sale of Dens Park?

9. Why was Dens Park not repurchased years ago? FPS initially said they would help fans buy back Dens Park. Had this process been started earlier, and with encouragement from the board, supporters via fundraising ventures could by now have rebought the stadium and saved the club hundreds of thousands of pounds in rent.

10. Can you outline the total amount of Dens Park maintenance costs over the past eight years and how they compare with clubs of a similar standing with facilities like Dundee FC?

11. Can you assure us that the structure of Dens Park stadium is being sufficiently maintained to ensure the renewal of our Safety Certificate?

12. In the interim, how much would it cost to install updated Wi-Fi to improve the ticketing system and offer a more modern matchday experience?

13. Should development of the new stadium be delayed, as is common in such projects, would an extended ground share be feasible, or do we risk becoming homeless?

14. What are the detailed financial benefits for the football club in moving?

15. Given that the new stadium will be developed by a company other than the club, how much will it cost annually to rent the new stadium and training facility?

16. What role will Dundee FC fans, who have everything to lose should things go wrong, have in these plans?

Good and important questions to ask, though I fully expect none of them to be answered.

[Shadow Play]

10 hours ago, Twinkle said:

Firsty they own part of that land. Secondly if they were that rich, they wouldnt still be scrambling around for more financing 5  years down the road

I would imagine they are as rich as they are due to the very fact the have previously completed many leveraged deals.  Using all your own money to fund one large deal makes a lot less sense than borrowing money and investing in several large deals.  

To give a simple example.  It makes more financial sense to take out twenty 75% buy to let mortgages to buy and rent out twenty £100,000 houses rather than buying only five for cash.

If your assets rise 100%* (let’s keep the arithmetic simple)  your twenty houses have increased your wealth by £2,000,000.  If you bought the five houses with your own cash your wealth would only have increased £500,000.  Your monthly income would also be greater buying the twenty houses, despite having to pay interest (at current rates).

* house prices have increased over 200% since the year 2000 when my house was very small with woodchip on the wall.

 

 

 

Edited March 26, 2022 by Shadow Play

[Dee Bliss]

11 hours ago, Twinkle said:

Firsty they own part of that land. Secondly if they were that rich, they wouldnt still be scrambling around for more financing 5  years down the road

They own the land the stadium etc are proposed to go on  

aye the billionaire’s struggling for cash

[Derry Alli]

The guy who owns my company owns multiple large fields. They're open, unused and free of degradation. He goes to the bank and levys £7m against them for job purposes. The land is only worth £7m if he fucks the contracts. 

[Gibby82]

Yer man Paddy Barclay is on to something here.

[Dee Bliss]

Nothing compared to Nou Campy Gibby

[DukDukGoose]

13 hours ago, Twinkle said:

Firsty they own part of that land. Secondly if they were that rich, they wouldnt still be scrambling around for more financing 5  years down the road

Dave Cormack is loaded and he still had the begging bowl out for the Cormack Park funding.

Not everyone is as daft as Eddie Thompson.

[Fifespud]

Yer man Paddy Barclay is on to something here.

That’s all very well Paddy but where’s the Bingo?

[deadasdillinger]

Haven't been following the Premiership but how's your season going, lads? Well, I assume. You'll be looking to have an extended stay in the top flight after spending so much of recent times in the diddy leagues. Looking forward to games against you guys next term

[RawB93]

1 hour ago, deadasdillinger said:

Haven't been following the Premiership 

Why’s that?

[Derry Alli]

4 hours ago, deadasdillinger said:

Haven't been following the Premiership 

You'll get over it one day, lad.