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Erik the Viking

Carrow Road Land Sale....

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Statement says the sum received will reduce the bank loans.  No immediate freeing up cash for players therefore although it probably means that what remaiins in the purchase pot won''t be grabbed back to keep the banks happy.

However the land sold is the car parks - can''t see how that will make some of the older fans happier about their match day experience unless plans for the multi-storey are still on the cards.  Tangy?

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[quote user="shefcanary"]

Statement says the sum received will reduce the bank loans.  No immediate freeing up cash for players therefore although it probably means that what remaiins in the purchase pot won''t be grabbed back to keep the banks happy.

However the land sold is the car parks - can''t see how that will make some of the older fans happier about their match day experience unless plans for the multi-storey are still on the cards.  Tangy?

[/quote]

Surely though Shef they have to give Lambert a bit as this could be our best shot and deep down McNally/Lambert must know that?

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How is this going to impact on the nearby factories, Colman''s being one? Weren''t there planning issues over the private developers'' blocks of flats recently - noise and the like?It will put more pressure on already busy side-roads and car-parks unless an alternative is built prior to the closure/development. Given the post on the ''It''s not football'' section about Whitlingham Lane''s new parking structure, parking could an even bigger headache for some.

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Hi Shefcanary,

Theres a comment in the announcement from NCFC about them seeking a long term parking solution.

Given that the rate of interest on the Loan Notes is 7%+ (if I remember correctly) then for every £1m off that debt thats an additional £70k. off the annual interest bill. 

I wouldn''t be surprised if this transaction is in the Post Blance Sheet Event. note of the Annual report when its published.

 

 

 

 

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It won''t be the car park will it? Because they have that fairly new ''Carrow Park'' or whatever its called behind the car park....They wouldn''t have sold that big off would they?

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The link relates to a report, laid in front of a recent Norwich City Council Planning Applications meeting

http://www.norwich.gov.uk/intranet_docs/corporate/public/committee/reports/2010/Planning/REP_Planning_5_3_Riverside_Heights_%20NCFC_Carrow_Rd_2010_10_14.pdf

 that seems to relate to the not yet developed land from deal 1 (i.e., not todays announced sale). See the last page of the PDF for a map.

WITS - If I remember correctly, I think there is a bit in the above report about the factories.

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I''d imagine this sale was driven by the banks desire to get some of their money back, pity there isn''t some avaliable to spend on players cos I really do think we could get promoted this year if we had the money for 2 or 3 decent signings in January.

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[quote user="Gazza"]

http://www.canaries.co.uk/page/NewsDetails/0,,10355~2217827,00.html

Land sold to Broadland Housing Association, your suspicions were right Tangy!

Lets hope that frees up at least a few quid to bolster us in January for a push!

[/quote]

Presumably it takes the pressure off the club re. the £2.5m bank loan re the land.

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The move underlines the Club''s policy of continuing to move strategic

focus away from property development and other peripheral activities

and concentrating on football.

All the cash raised from the sale will be used to reduce the Club''s

debts, offering Norwich City greater security and stability moving

forward during extremely challenging times.

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Was this land ''inherited'' from her predecessors.. or a result of Delia Smith''s alleged multi million pound investment?

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[quote user="Cluckbert Chase"]Was this land ''inherited'' from her predecessors.. or a result of Delia Smith''s alleged multi million pound investment?
[/quote]

 

I believe it was Chase mate although the potty Deliarites will no doubt try to claim otherwise.

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[quote user="cityangel"]So does anyone have any idea what we would have got for that?[/quote]

If this appears twice apologies computer being a pain.

Not as much as if to a private deveolper but they are few and far between at present due to the greedy bankers who got us in this mess damn them all!!!!!!!!!!!!!!

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[quote user="First Wizard"]But a big fat zero going to Lamberts transfer budget.[/quote]

 

---

 

I understand from my impeccable sources that the board was split on the issue. Smith and Jones and Fry[Y] wanted the money to go to Lambert''s transfer budget but Bowkett, McNally, Foulger and Phillips[N] voted to pay off debt. That''s boardroom democracy for you.[;)]

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i do hope the sale price is not £3.9m. I don''t think my sides could take the strain of laughter knowing that the poor old paupers sold their whole club for the same price we sold a bit of carpark.

As to what is done with the money it should be borne in minds that the banks stuck with us last season. I''m sure that part of that deal would have been the reduction of deferred payments when possible. Without that deferment I doubt we would have got out of div 1 at the first attempt. So it''s payback time. It would most likely have been that those deferments were secured against fixed assets. the carpark is an asset.

Despite the predictable twaddle from the usual suspects the club will and has to look beyond it''s own four walls. Both the banks and the club would have been aware of the value of the carpark, would have been aware of future developments and the right time to sell.

Regarding transfers in the January transfer window those are pretty much certain. The appointment of the new chief scout stated that. Players are being targetted and I believe they will be bought in. How this is funded is a moot point. Again despite the twaddle from the red tops and the usual simple minded folk tranfer fees are not what are claimed.

.

It is usually a matter of buying out the players contract (mistakenly called a transfer fee in many cases) and offering a better contract to the player. Why would the club stand by this arrangement. You can here the squeaks. Because they " are a selling club". Complete and absolute bollox. EVERY club is a selling club. If anyone can name a club that has never sold a player then they are a liar. Players have it written into the contract various caluses that permit them to move to another club, under various conditions. The club has no option.

Whether any incoming players are, as with Elliot and Rose, short term usage to keep us in the playoffs (or even automatic spot) or longer term acquisitions to replace other players it remains to be seen.

Any idea of consolidating is nonsense. The team is on the pitch to win, the club is there to succeed. It is not like going to a casino and winning a few thousand then quiting whilst you are ahead. I think it might have escaped some people''s notice that all clubs start from nought at the beginning of the season, so whatever you finish in May you have to start again.

Middlesboro, Bristol City and Nottm Forest should ably demonstrate that the season before''s success guarantees nothing the following season.

The other moot point is who will go out in January, if only on loan ?

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[quote user="First Wizard"]

[quote user="Cluckbert Chase"]Was this land ''inherited'' from her predecessors.. or a result of Delia Smith''s alleged multi million pound investment?[/quote]

 

I believe it was Chase mate although the potty Deliarites will no doubt try to claim otherwise.

[/quote]Strange that her luvvies haven''t rallied round to provide the facts regarding this land sale...... Looks very much to me like more of Robert Chases'' family silver being sold off to prop the old cook up.

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[quote user="Cluckbert Chase"][quote user="First Wizard"]

[quote user="Cluckbert Chase"]Was this land ''inherited'' from her predecessors.. or a result of Delia Smith''s alleged multi million pound investment?[/quote]

 

I believe it was Chase mate although the potty Deliarites will no doubt try to claim otherwise.

[/quote]Strange that her luvvies haven''t rallied round to provide the facts regarding this land sale...... Looks very much to me like more of Robert Chases'' family silver being sold off to prop the old cook up.

[/quote]Yeah, your completely right, Bob''s policy of buy lots of land and sell all our best players has proven very succesful.[;)]

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[quote user="morty"][quote user="Cluckbert Chase"][quote user="First Wizard"]

[quote user="Cluckbert Chase"]Was this land ''inherited'' from her predecessors.. or a result of Delia Smith''s alleged multi million pound investment?[/quote]

 

I believe it was Chase mate although the potty Deliarites will no doubt try to claim otherwise.

[/quote]Strange that her luvvies haven''t rallied round to provide the facts regarding this land sale...... Looks very much to me like more of Robert Chases'' family silver being sold off to prop the old cook up.

[/quote]Yeah, your completely right, Bob''s policy of buy lots of land and sell all our best players has proven very succesful.[;)][/quote]Sell the players he bought in the first place you mean?  [:|]

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[quote user="Cluckbert Chase"][quote user="morty"][quote user="Cluckbert Chase"][quote user="First Wizard"]

[quote user="Cluckbert Chase"]Was this land ''inherited'' from her predecessors.. or a result of Delia Smith''s alleged multi million pound investment?[/quote]

 

I believe it was Chase mate although the potty Deliarites will no doubt try to claim otherwise.

[/quote]Strange that her luvvies haven''t rallied round to provide the facts regarding this land sale...... Looks very much to me like more of Robert Chases'' family silver being sold off to prop the old cook up.

[/quote]Yeah, your completely right, Bob''s policy of buy lots of land and sell all our best players has proven very succesful.[;)][/quote]Sell the players he bought in the first place you mean?  [:|][/quote]Ah right, that makes our steady decline okay then.Silly me.[:)]

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[quote user="Cluckbert Chase"][quote user="morty"][quote user="Cluckbert Chase"][quote user="First Wizard"]

[quote user="Cluckbert Chase"]Was this land ''inherited'' from her predecessors.. or a result of Delia Smith''s alleged multi million pound investment?[/quote]

 

I believe it was Chase mate although the potty Deliarites will no doubt try to claim otherwise.

[/quote]Strange that her luvvies haven''t rallied round to provide the facts regarding this land sale...... Looks very much to me like more of Robert Chases'' family silver being sold off to prop the old cook up.

[/quote]Yeah, your completely right, Bob''s policy of buy lots of land and sell all our best players has proven very succesful.[;)][/quote]Sell the players he bought in the first place you mean?  [:|][/quote]Oh, you mean players like Chris Sutton ?Came up through the junior ranks then Robert " If Chris Sutton goes I go to " Chase flogs him for £5 million cash in the vain hope of shoring up his crumbling empire.True to his word of course good ''ol Bob didn''t go until his last throw of the dice in a desperate '' fire sale '' of players when the banks were hanmmering at the door and he realised the game was up.They broke the mould when they made him...........

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[quote user="Cluckbert Chase"][quote user="morty"][quote user="Cluckbert Chase"][quote user="First Wizard"]

[quote user="Cluckbert Chase"]Was this land ''inherited'' from her predecessors.. or a result of Delia Smith''s alleged multi million pound investment?
[/quote]

 

I believe it was Chase mate although the potty Deliarites will no doubt try to claim otherwise.

[/quote]

Strange that her luvvies haven''t rallied round to provide the facts regarding this land sale...... Looks very much to me like more of Robert Chases'' family silver being sold off to prop the old cook up.


[/quote]

Yeah, your completely right, Bob''s policy of buy lots of land and sell all our best players has proven very succesful.

[;)]
[/quote]

Sell the players he bought in the first place you mean?  [:|]
[/quote]

He bought or the club bought???

Also, when you buy a house, the price you pay doesn''t just reflect the bricks and mortar but also the land etc that it is on doesn''t it?

Hardly the Chase family silver is it?

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[quote user="Attleborough_Canary"][quote user="Cluckbert Chase"][quote user="morty"][quote user="Cluckbert Chase"][quote user="First Wizard"]

[quote user="Cluckbert Chase"]Was this land ''inherited'' from her predecessors.. or a result of Delia Smith''s alleged multi million pound investment?[/quote]

 

I believe it was Chase mate although the potty Deliarites will no doubt try to claim otherwise.

[/quote]Strange that her luvvies haven''t rallied round to provide the facts regarding this land sale...... Looks very much to me like more of Robert Chases'' family silver being sold off to prop the old cook up.

[/quote]Yeah, your completely right, Bob''s policy of buy lots of land and sell all our best players has proven very succesful.[;)][/quote]Sell the players he bought in the first place you mean?  [:|][/quote]

He bought or the club bought???

Also, when you buy a house, the price you pay doesn''t just reflect the bricks and mortar but also the land etc that it is on doesn''t it?

Hardly the Chase family silver is it?

[/quote]In that case, how is Robert Chase responsible for this so called financial crisis?  Are you saying he had nothing to do with the huge success during his tenure or for the quality players and shrewd land purchases .....yet is resonsible for the inevitable bubble burst?  You can''t have it both ways......Yet more bilge aimed at the man who gave us the best years in our club''s history.... and continuing defence of the old cook who has done nothing but milk the NCFC brand to prolong her dwindling career.

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