Fighting a losing battle

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Micalijo

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We've heard plenty from Bob over the past few years that football clubs will go under, clubs will go out of existence etc etc, my plan is to make the Blades a small part of a wide property group and watch the wedge flood in etc etc away from the volatilty of the football industry. All stomach churning stuff.

Did he forsee that Cardiff City council would allow Ridsdale to sell off a bit of the land surrounding the stadium in order to keep them afloat when HMRC come calling this week?

Part of this land deal sees a developer coming in and building something on the land - the detail is in the Guardian and it isn't just a council getting nothing in return (obviously this would not go down well with voters not interested in football etc). In essence Cardiff City own a long lease on the stadium and land. The council have allowed City to sell a sub-lease to a developer who thinks he can make wedege out of whatever he is building.

My point is that football clubs always seem to have some rescue package - let's just hope we have one.
 

can anyone tell me who owns the land at bramall lane.. do we actually own it? (if so then this starts to make sense)
 
I totally agree that the accounts are impossible to comprehend but they do clearly state that SUFC Ltd own the freehold and that the bank have charges over it. My understanding of that is if plc defaults on its debt, the bank can take ownership of the freehold or part ownership depending on the level of default.

I think the ownership of the freehold is one of the few things of clarity in the accounts.
 

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