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| Quote Sal Paradise="Sal Paradise"The club has no significant cash on its balance sheet to fund a build of this nature. It will have to borrow the money at commercial rates. If it costs 7m + 7% interest, over 25 years the repayments will be in excess of 300k a year, significantly more than the reported profits.
Unlike the other stand I don't see anyone coming in to fund it either'"
Which is why had they stayed with the orginal proposal and had the corporate boxes at the back, then they would have had a bigger income stream to accomadate the spend.
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| It looks smaller than the current SouthStand to me. 3 years ago you could get 8k in there. I would have hoped for a similar size. That just looks like the terrace at HJ.
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| Aye.
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| Quote Gotcha="Gotcha"Which is why had they stayed with the orginal proposal and had the corporate boxes at the back, then they would have had a bigger income stream to accomadate the spend.'"
Only if you can fill them - to me looks like the club haven't got the belief they can fill them or Caddick cannot underwrite borrowing on the original scale?
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| I do love some of the whingers on this thread.
"We want a sparkly new stand with lots of bells and whistles on it"
I can only assume that most of you don't run your own businesses (or won't for very much longer if you carry on living in cloud cuckoo land).
There's a recession on. As a result, revenues are likely to fall. Let's face it, Headingley has hardly been packed to the rafters the last couple of years, even with the reduced capacity in the South Stand.
Why jeopardise the future financial stability of the club by borrowing to fund the creation of something you don't need and aren't going to use to its capacity more than twice a year?
It's an improvement on what's currently in place - it'll get a full H&S certificate for a start. Better viewing, improved facilities for spectators. Who gives a fishes t*t whether it's four feet lower or has much architectural merit to it - you're going to be stood inside the bloody thing not looking at it like an art gallery exhibit.
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| Im not bothered about it looking all modern and "posh". Just disapointed with the capacity size if the current one is bigger.
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| Quote Sal Paradise="Sal Paradise"The club has no significant cash on its balance sheet to fund a build of this nature. It will have to borrow the money at commercial rates. If it costs 7m + 7% interest, over 25 years the repayments will be in excess of 300k a year, significantly more than the reported profits.
Unlike the other stand I don't see anyone coming in to fund it either'"
At 31 October 2010 the club had £2.36m in the bank and had lent a further £1.7m to Leeds Carnegie to cover their cash deficit (which I ASSUME we'll be getting back...). It's very cash-rich for an RL club and whilst obviously money will need to be borrowed either from within or without the group it's a decent starting point to the funding.
According to GH (last year) whilst there was at one point an intention to install corporate facilities in the new stand, the decision not to, whilst clearly affected by what size the stand could be, is also to do with whether there really was any need or demand for yet more corporate spaces at a stadium which already has more than anywhere else in Super League by some distance.
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| Quote Harrigan="Harrigan"Im not bothered about it looking all modern and "posh". Just disapointed with the capacity size if the current one is bigger.'"
But the current one isn't bigger. It has a current capacity of 6,000 due to H&S restrictions, so the new build will be able to hold more fans than the current South Stand (which itself doesn't get used to capacity for most games anyway).
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| Quote Andy Gilder="Andy Gilder"I do love some of the whingers on this thread.
"We want a sparkly new stand with lots of bells and whistles on it"
I can only assume that most of you don't run your own businesses (or won't for very much longer if you carry on living in cloud cuckoo land).
There's a recession on. As a result, revenues are likely to fall. Let's face it, Headingley has hardly been packed to the rafters the last couple of years, even with the reduced capacity in the South Stand.
Why jeopardise the future financial stability of the club by borrowing to fund the creation of something you don't need and aren't going to use to its capacity more than twice a year?
It's an improvement on what's currently in place - it'll get a full H&S certificate for a start. Better viewing, improved facilities for spectators. Who gives a fishes t*t whether it's four feet lower or has much architectural merit to it - you're going to be stood inside the bloody thing not looking at it like an art gallery exhibit.'"
All very valid, totally understandable, and more importantly totally correct points. But it doesn't stop people having the right to be underwhelmed.
Nobody asked for it to be pitched to us in the way that it was. Everybody would've understood if the club would have come out and said... "The money is tight, we're trying to keep costs low, so that we can keep ticket prices low. The South Stand obviously needs updating, so we're basically constructing a working, safer version of the one we've got, with a few minor improvements (for example no pillars restricting the view) where economically viable."
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| Quote Remarkable_Rhinos="Remarkable_Rhinos"Nobody asked for it to be pitched to us in the way that it was. Everybody would've understood if the club would have come out and said... "The money is tight, we're trying to keep costs low, so that we can keep ticket prices low. The South Stand obviously needs updating, so we're basically constructing a working, safer version of the one we've got, with a few minor improvements (for example no pillars restricting the view) where economically viable."'"
"Pitched"?
Leeds aren't trying to sell you the concept of a new South Stand - the decision to rebuld has been taken out of their hands by the failure of the current structure.
Neither are they genuinely seeking your opinions on how the new one should look. This is a government style consultation, which is shorthand for "we've already decided what we're doing". If they haven't, then they've wasted a lot of money in architects fees.
This is an exercise in letting fans give their opinion and feel part of the process, purely cosmetic in nature. Accept it for what it is.
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| Quote MjM="MjM"At 31 October 2010 the club had £2.36m in the bank and had lent a further £1.7m to Leeds Carnegie to cover their cash deficit (which I ASSUME we'll be getting back...). It's very cash-rich for an RL club and whilst obviously money will need to be borrowed either from within or without the group it's a decent starting point to the funding.
According to GH (last year) whilst there was at one point an intention to install corporate facilities in the new stand, the decision not to, whilst clearly affected by what size the stand could be, is also to do with whether there really was any need or demand for yet more corporate spaces at a stadium which already has more than anywhere else in Super League by some distance.'"
2.3m at October has to keep the club going until January - by January it will have next to nothing - hence the need to play the festive season game. Wages for both teams etc will be close to 400k a month these still need to be paid even though revenues are virtually non-existent.
Not sure it has more corporate than either Huddersfield or Wigan?
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| Quote Andy Gilder="Andy Gilder"But the current one isn't bigger. It has a current capacity of 6,000 due to H&S restrictions, so the new build will be able to hold more fans than the current South Stand (which itself doesn't get used to capacity for most games anyway).'"
You know what I mean
The current SS is "big enough" to hold 8k and has been more in the last 10 years.
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