Sale of stadium

[blues2win]

I notice that the Daily Mail are running that Manchester City Council have refused to sell the stadium to City for upwards of £200 million. I didn't realise the Club had tried to buy but I suppose it makes sense. Is it possible to transform the COMS into a 75,000 stadium in due course though? And if Manchester City Council continue with their attitude will ADUG look for another site?

[Wooders]

I reckon part of the reason they wanted to purchase city is the development potential of the ground around the stadium - would make sense for us to purchase the stadium as well, which I assume would include a lot of the empty ground around the area.

It won't suprise me if Manchester city council are doing an "everton" by asking for extortionate amounts of money for something fairly average, in the opinion that we can afford it

[gillie]

I think the Council are daft not selling as they have to make massive cuts in their spending budget over the next 2 years.Selling to Adug must surely mean they wont have to make the cuts or am i way off the mark.

[avoidconfusion]

Would be a disgrace if the Council would really try to extort a ridiculous amount just because "City are rich" .

[Chinners]

Whereas for other football clubs selling players to us thats fair game?

[avoidconfusion]

Whereas for other football clubs selling players to us thats fair game?

That is a different story in my opinion. I don't think a government institution like the Council should act like that... especially considering that ADUG are apparently already spending millions upon millions on re-developing the area around the COMS anyway, which will benefit the City as a whole.

[Chinners]

Aye, was just being sarky. It is different (or should be) but when push comes to shove councils are even more crooked and out for what they can get than football owners ... I don't find their actions surprising at all tbh

[sweenyuk]

The sale of the stadium would not be a simple £200m in the councils bank. The majority of the money to build came from Lottery or sports england funds, they would need repaying first before the council saw any of the money, where as if the council retain ownership they keep getting there £3m per year rent

[Beefymcfc]

The sale of the stadium would not be a simple £200m in the councils bank. The majority of the money to build came from Lottery or sports england funds, they would need repaying first before the council saw any of the money, where as if the council retain ownership they keep getting there £3m per year rent

Seems very wierd that we've just renegotiated this deal yet are now trying to buy the stadium; I was under the impression that we, and Manchester City Council were happy?

[sweenyuk]

The sale of the stadium would not be a simple £200m in the councils bank. The majority of the money to build came from Lottery or sports england funds, they would need repaying first before the council saw any of the money, where as if the council retain ownership they keep getting there £3m per year rent

Seems very wierd that we've just renegotiated this deal yet are now trying to buy the stadium; I was under the impression that we, and Manchester City Council were happy?

That was my impression as well, not aware of any bid to buy, but the Sheik does do suprises

[Dunnylad]

It is my understanding that as part of the financial plans being considered by every local authority, it was suggested that the council sell coms to the club as that would generate £200m. This was rejected by civic leaders for reasons already stated in the thread (plus I think it is better that no owner owns the football ground - too many burnt fingers elsewhere) - I understand that it hasn't been suggested that the sheikh has made a bid for the ground so I think the Mail maybe putting 2 + 2 and getting 3

[CitizenYank]

What City would want to sell a publicly-funded municipal stadium? It is a continuous stream of revenue with both sport and concert dates, and can be used to other annual events to Manchester. If the club wants to buy the property and venue outright, they would probably have to present the city with a buyout and a favorable lease to offset the potential future earnings. But I am in the dark about the estimated value of the property and as an asset, and what kinds of public funding built Eastlands anyway? I imagine the process of expanding Eastlands will take several years.

[Beefymcfc]

The sale of the stadium would not be a simple £200m in the councils bank. The majority of the money to build came from Lottery or sports england funds, they would need repaying first before the council saw any of the money, where as if the council retain ownership they keep getting there £3m per year rent

Seems very wierd that we've just renegotiated this deal yet are now trying to buy the stadium; I was under the impression that we, and Manchester City Council were happy?

That was my impression as well, not aware of any bid to buy, but the Sheik does do suprises

We've basically got a lifetimes lease at 3 mil a year and it was reported that we were not interested in buying it to keep good links with MCC. It was also reported that if we wanted to expand there would be no problem as it would bring extra revenue to Manchester, especially considering all that Sheikh Mansour is willing to put into the local area with council backing.

When you look at it logically, City have increased the council's revenue before they needed to, showing hat a partnership exists. City, as in Manchester City, is what they are building our brand on.

[Twobob]

I agree with those that are saying that this is a made up story, i had heard that the sale was muted only by MCC and also heard they decided to keep the garaunteed 3 mil coming in.

Personally i am glad the council own it. Although i trust the sheik as much as you can of some one in his position - i didnt trust Thaksin
as far as i could throw him, imagine if he owned the land and ground, today could have been a very differant picture!

[Ted Hughes]

Our bright spark local MP, suggested, publicly, that the council should sell to City for £200m. It was turned down flat as, apparently City could get it for much less than half that & most of the money would be payable to someone other than the council. MP, mouthing off without thinking.

[Alioune DVToure]

Surely it's in the council's interest to sell? If we threatened to go elsewhere which, let's face it, we could afford to do, what the fuck would they do with a big empty stadium with no likely tennant?

Having said that, I suppose they could just refuse us planning permission if we threatened to shift.

[Moonchesteri]

Surely it's in the council's interest to sell? If we threatened to go elsewhere which, let's face it, we could afford to do, what the fuck would they do with a big empty stadium with no likely tennant?

Having said that, I suppose they could just refuse us planning permission if we threatened to shift.

My thoughts went exactly the same road earlier today.

[Beefymcfc]

It's not in the interests for the council to sell as a lot of money paid out for the stadium came from charitable trusts, therefore they would get the pay-off first, leaving MCC with probably about 10 years money that we are giving at the moment.

A nice hit for the moment, but a big sting in the long-run.

[Ted Hughes]

Why would it be in the council's interest to sell, if 75% of the money was going to Sport England & that was 75% of £60 Mil, not £200M? Not to mention the fact that this story came because an MP suggested selling, not because City have offered to buy. As far as I understand, City have negotiated a deal with which they are happy anyway.

Would the council not be better off getting their agreed fee every year for the next 200 years of the lease instead of selling for the equivalent of 2/3 years income?

[john68]

I am not wholly vertain of my facts on this but i was led to beleive that the £3M per annum was agreed for a specified period and that the rental amount would be renegotiated after that period expired.
I was also led to believe that it would not be in City's financial interests to buy the stadium.

I'm with ted on this...a non story.