MrsORichSenior
28-12-2016, 12:07 PM
Elland Road Ownership - Caveat emptor !
Here is a crucial element for any potential buyer of our club,IMO - the ground.
Having access to various reports & sitting in recent meetings with regard to West Ham & Spurs stadia planning proposals I could weep at the ER situation.
Using the Spurs stadia development as an example & looking further into their fiscal prospectives I note the full extent of public contribution to Tottenham Hotspur's planned new stadium project.This is revealed with the club positioned to benefit from controversial council plans to develop an area opposite the new ground involving the demolition of existing local businesses.Council planners please note in Leeds !
Spurs have bought substantial land in that area, now proposed for residential development, and recently moved ownership of the property offshore, raising the possibility of avoiding corporate capital gains tax when it is sold at a profit – although Spurs deny the transfer was motivated - my view differs,here's why.
(Tottenham transferred all their property in the High Road West area to TH Property Ltd, a company registered in the Bahamas. That is the Caribbean tax haven home of Joe Lewis, the billionaire currency trader who owns a majority of Spurs via his holding company, Enic International, also registered in the Bahamas. Levy is, with his family, a potential beneficiary of a trust that owns 29% of Enic International in the Bahamas. Levy's salary is paid by Enic International, which is then repaid by Spurs).:O
Now you may now understand what one Mr Kenneth Bates 'master plan' was all about & his productive use of Trust Funds,complex funds may I add starting in Guernsey & ending in Guernsey,my view,my opinion after looking and listening to various parties with 'an interest' of taking Leeds United AFC forward a while back.Tracking potential Beneficiaries is not easy for obvious legal reason and would not certainly fit the slot of this Thread or Forum.
Title & Deed holders of property or Land does though - so without direct info on what Leeds City Council know of the situ regarding of such on ER and of more importance the land around ER,which they do know,this IS a real problem for potential investors,IMO.
Hard-pressed local councils are increasingly keen to help Premier League clubs, which have become stand-out multimillion pound success stories in often impoverished neighbourhoods,Man City & Liverpool grounds surrounds spring to mind in this respect as do Spurs now.
When renegotiating with the council, Levy insisted major regeneration had to take place across Tottenham High Road, where Spurs had bought property, if staying in Haringey was to be viable - (of course he did for his £££££'s).
Spurs own the designated supermarket site too, having assembled it from properties bought gradually over the years, it too was transferred to TH Property in the Bahamas, which is leasing the site to Sainsbury's now.
Regeneration around the Spurs ground was/is still crucial and that is the same for ER, imo,also it seems of Property developer Jacob Adler’s MBH Investments firm who has now submitted plans for a two-storey building accessed from Elland Road on land between the Subway outlet and The Old Peacock pub.Yes the same Jacob Adler who owns ER with an agreement that contained a clause that means the club can buy back the ground for a set fee at any stage before 2029 but both rent and the buy-back cost rise by three per cent every year - so he'll not be selling ER on the cheap now will he.
My worry is who actually does own other areas around the ER Stadium now as any stadia refurbishment won't come cheap if land is required by prospective owners.
Leeds City council have let the fans & folk down as they've shown no foresight or nouse in the past which if they had we would have been in a better 'selling' position today and have a club running on the German/French league morals of Stadia jointly run and owned by club,council and community so all benefit or even a "peppercorn rent agreement" as in place at Chelsea.The CPO (Chelsea Pitch Owners) whom own Stamford Bridge freehold,the turnstiles,the pitch and the Chelsea FC name in turn granted the club a 199-year lease on Stamford Bridge at a cheap rent,so if Chelsea move away they cannot keep the Chelsea name anymore - So for all his money Abromovich is stuck to redevelop now in situ for his craved 60,000 stadia - bet he loves Bates now too.
What a mess for us 'tho - it's a shame that the various 'fan groups' opposed to MC & the various consortia offering money didn't direct imput & resources into buying the Stadium,IMO,thus protecting such an asset for future generations and keeping greedy "here now gone tomorrow" money grabbers off it.A positive solution to a negative situation that's still possible Mr Radrizzani if you choose not to go down getting Image Right deals to fund the purchase of ER or heaven forbid a relocation if Mr Jacob Adler digs his heels in over his current deal of us handing over a wedge of £1.4 million plus a season to sit in a stadia needing some TLC.
MOT
Here is a crucial element for any potential buyer of our club,IMO - the ground.
Having access to various reports & sitting in recent meetings with regard to West Ham & Spurs stadia planning proposals I could weep at the ER situation.
Using the Spurs stadia development as an example & looking further into their fiscal prospectives I note the full extent of public contribution to Tottenham Hotspur's planned new stadium project.This is revealed with the club positioned to benefit from controversial council plans to develop an area opposite the new ground involving the demolition of existing local businesses.Council planners please note in Leeds !
Spurs have bought substantial land in that area, now proposed for residential development, and recently moved ownership of the property offshore, raising the possibility of avoiding corporate capital gains tax when it is sold at a profit – although Spurs deny the transfer was motivated - my view differs,here's why.
(Tottenham transferred all their property in the High Road West area to TH Property Ltd, a company registered in the Bahamas. That is the Caribbean tax haven home of Joe Lewis, the billionaire currency trader who owns a majority of Spurs via his holding company, Enic International, also registered in the Bahamas. Levy is, with his family, a potential beneficiary of a trust that owns 29% of Enic International in the Bahamas. Levy's salary is paid by Enic International, which is then repaid by Spurs).:O
Now you may now understand what one Mr Kenneth Bates 'master plan' was all about & his productive use of Trust Funds,complex funds may I add starting in Guernsey & ending in Guernsey,my view,my opinion after looking and listening to various parties with 'an interest' of taking Leeds United AFC forward a while back.Tracking potential Beneficiaries is not easy for obvious legal reason and would not certainly fit the slot of this Thread or Forum.
Title & Deed holders of property or Land does though - so without direct info on what Leeds City Council know of the situ regarding of such on ER and of more importance the land around ER,which they do know,this IS a real problem for potential investors,IMO.
Hard-pressed local councils are increasingly keen to help Premier League clubs, which have become stand-out multimillion pound success stories in often impoverished neighbourhoods,Man City & Liverpool grounds surrounds spring to mind in this respect as do Spurs now.
When renegotiating with the council, Levy insisted major regeneration had to take place across Tottenham High Road, where Spurs had bought property, if staying in Haringey was to be viable - (of course he did for his £££££'s).
Spurs own the designated supermarket site too, having assembled it from properties bought gradually over the years, it too was transferred to TH Property in the Bahamas, which is leasing the site to Sainsbury's now.
Regeneration around the Spurs ground was/is still crucial and that is the same for ER, imo,also it seems of Property developer Jacob Adler’s MBH Investments firm who has now submitted plans for a two-storey building accessed from Elland Road on land between the Subway outlet and The Old Peacock pub.Yes the same Jacob Adler who owns ER with an agreement that contained a clause that means the club can buy back the ground for a set fee at any stage before 2029 but both rent and the buy-back cost rise by three per cent every year - so he'll not be selling ER on the cheap now will he.
My worry is who actually does own other areas around the ER Stadium now as any stadia refurbishment won't come cheap if land is required by prospective owners.
Leeds City council have let the fans & folk down as they've shown no foresight or nouse in the past which if they had we would have been in a better 'selling' position today and have a club running on the German/French league morals of Stadia jointly run and owned by club,council and community so all benefit or even a "peppercorn rent agreement" as in place at Chelsea.The CPO (Chelsea Pitch Owners) whom own Stamford Bridge freehold,the turnstiles,the pitch and the Chelsea FC name in turn granted the club a 199-year lease on Stamford Bridge at a cheap rent,so if Chelsea move away they cannot keep the Chelsea name anymore - So for all his money Abromovich is stuck to redevelop now in situ for his craved 60,000 stadia - bet he loves Bates now too.
What a mess for us 'tho - it's a shame that the various 'fan groups' opposed to MC & the various consortia offering money didn't direct imput & resources into buying the Stadium,IMO,thus protecting such an asset for future generations and keeping greedy "here now gone tomorrow" money grabbers off it.A positive solution to a negative situation that's still possible Mr Radrizzani if you choose not to go down getting Image Right deals to fund the purchase of ER or heaven forbid a relocation if Mr Jacob Adler digs his heels in over his current deal of us handing over a wedge of £1.4 million plus a season to sit in a stadia needing some TLC.
MOT