ST to sell Gussie for £1M

[LSArab]

Things just seem to go from bad to worse for me with united over last few years.

Really hard to understand what the motivation behind this is - we don’t know MM’s long term intentions. Does he want to be next owner and chairman? That would be good to know. Maybe he could give some reassurance to fans. I don’t know if he actually has money to invest or this is a rent/ profit enterprise for him

[PortugueseFrank]

According to Courier it is being bought through a pension fund called Yorsipp.

From what I can see Mike Martin is not a director of this company. And it's solely owned by one woman.

It may actually be that he's simply brokered a deal with an unrelated third party company and it's being packaged as investment from him.

We could really do with a statement from the club once the deal goes through to explain.

If the courier are right and it is Yorsipp then I don't think it is Mike Martin that's financially on the line for this.

Yorsipp state on their site regarding property investments that one of their specialities "is support various purchase methods - such as sale and leaseback."

Which is what appears to be the finance that Dundee United are accessing here.

This would be an unequivocal sign that all unsecured or secured lending has dried up. Which is not a good place to be.

[borderarab]

Here we go again, Newcastle jets = gms/sa sold under our noses . American dream = Gussie sold . Wonder what else will be getting sold in the near future ? FST

[smirky4]

According to Courier it is being bought through a pension fund called Yorsipp.

From what I can see Mike Martin is not a director of this company. And it's solely owned by one woman.

It may actually be that he's simply brokered a deal with an unrelated third party company and it's being packaged as investment from him.

We could really do with a statement from the club once the deal goes through to explain.

If the courier are right and it is Yorsipp then I don't think it is Mike Martin that's financially on the line for this.

Yorsipp state on their site regarding property investments that one of their specialities "is support various purchase methods - such as sale and leaseback."

Which is what appears to be the finance that Dundee United are accessing here.

This would be an unequivocal sign that all unsecured or secured lending has dried up. Which is not a good place to be.

Could this be the Lottery winning Gillian Bayford it as an investment?

BTW Poor timing from United ahead of a massive game for us tonight

[TangerineDream]

Time we knew exactly WTF is going on with our club. OUR club.

What the phuk is he up to now . Hope all the supporters bodies are all over this and the rest of the s.hite that is going on.

Phuk sake, ‘mon United , gie iz some respite the night at Livi .

[PortugueseFrank]

Could this be the Lottery winning Gillian Bayford it as an investment?

BTW Poor timing from United ahead of a massive game for us tonight

It isn't her.

This isn't investment.

It's the sale of an asset to rent back.

It's like selling your house off to pay debts only to rent it back.

It's not a good position to be in unless you turn your business around with the money you get.

[geofoxposse]

Something does not feel right about this deal. Typically pension funds look for a near guaranteed capital investment with a high annual yield. If the leaseback is at the top of the range then its clear there is a massive cashflow problem and selling assets short term is a worrying sign.

Furthermore the deal regarding investment into the GP and upkeep of it needs to be examined in the leaseback. Any improvement in the facility will simply increase the value of someones eases investment. There is clearly too much inbred interest involved and it smells of the boys trying to liquidate as much as possible before bailing..

[PortugueseFrank]

We will have yo exactly which portion of the total site is in the deal. It could just be the Pitch area for example.

It may not include the shop and sheds.

[smirky4]

It isn't her.

This isn't investment.

It's the sale of an asset to rent back.

It's like selling your house off to pay debts only to rent it back.

It's not a good position to be in unless you turn your business around with the money you get.

I wonder what Gussie turned over and the profit on that, it always seems well used, im assuming there will be caveats in the purchase ti keep it a sports centre just in case someone wants to it into property developments etc

[ahlltanyirhide]

We will have yo exactly which portion of the total site is in the deal. It could just be the Pitch area for example.

It may not include the shop and sheds.

The old buildings in the corner are currently used as security against another loan, these are the same buildings that were being talked about recently to develop into a bar and other fan facilities.

It is p ish though that supporters helped fund the redevelopment of Gussie Park with a sizable injection of cash coming from GD, and then once it’s in place and worth a couple of bob, these cretins can just sell it off