Huddersfield

[Turkey]

Seems like they are getting screwed over with the ownership of their stadium.

I don't fully understand exactly whats going on but from what I gather some chap bought the ground for £2 when they were in financial trouble some years ago and is now holding them to ransom.

There's more details here: DATM - Down At The Mac - Huddersfield Town Forum - BACKGROUND INFO ON THE SHARE ISSUE

And they're bombarding local councilers with emails to get the issue looked at if anyone wants to assist that: DATM - Down At The Mac - Huddersfield Town Forum - The Next Step

 

[hans kraay fan club]

Sounds like they've been well stitched.

 

[Tony Meolas Loan Spell]

Where is granny when you need him? Whats the story Dave?

 

[Terrier17]

Its a very big problem we have if it doesn't get resolved! If all Brighton fans on here take time to read what is on DATM forum to understand whats happened, then it will help us spread the word. This link to a thread wil give some understanding of whats going on.....

ttp://downatthemac.proboards.com/index.cgi?board=general&action=display&thread=63892


Maybe we could make plans for another stadium who knows! If so I'd love one like yours! But that seems like it'd never happen!

Anyway guys I hope you have great 2nd half of the season and hope you push on for the play-offs!

 

[Terrier17]

put a 'h' on start of that link as it won't let me post them yet!

 

[Barrel of Fun]

The link...

DATM - Down At The Mac - Huddersfield Town Forum - KSDL SHARE DEAL STATEMENT

 

[grummitts gloves]

Hope it has a happy ending. Much respect to your team and manager for the way they behaved towards the Albion last season. Hope you go up this year. Please post any links that will help your cause. Fans United Will Never Be Defeated!!


Sent from my iPhone using my fingers.

 

[Thunder Bolt]

There's quite a bit more from the local paper Huddersfield Examiner.

Huddersfield Town chairman speaks out on stadium share deal collapse - Local West Yorkshire News - News - Huddersfield Examiner

 

[deletebeepbeepbeep]

Terrier, yo mind summarizing whats happening?

 

[ifuhatepalacestandup]

quote( Maybe we could make plans for another stadium who knows! If so I'd love one like yours! But that seems like it'd never happen)
sure many on here thought that at some point in the last ten or so years mate

 

[seagullsovergrimsby]

So basically the stadium originally was owned as a 3 way consortium , 40% local council , 40% Huddersfield Town and 20% Huddersfield Giants (rugby club). Huddersfield Town went into administration in 2003 with approximate debts of £17M. The owner of the Giants bought Huddersfield Town's 40% shareholding for £2 and has invested £3M . A new chairman took over Huddersfield Town in 2009 but Ken Davy (Giants chairman) retained the shares. There are only 2 shareholders in the stadium , the council and Ken Davy. The 2 clubs have to pay rent which equates to £3 for each fan going through the turnstiles. Huddersfield Town are paying around 75% of the rental income but are getting nothing in return. Dean Hoyle , the chairman of HT is trying to get back the 40% shareholding even by paying in excess of £3M for the £2 shares. With 2 games being shown live on Sky there is an opportunity for Huddersfield fans to publicise the shenanigans going on at The Galpharm.

 

[Terrier17]

That is pretty much the basic gist of it Grimsby, thanks!
I wish we could move stadium but apparently we're tied down with a contract saying we have to stay there for 120 years!

 

[seagullsovergrimsby]

That is pretty much the basic gist of it Grimsby, thanks!
I wish we could move stadium but apparently we're tied down with a contract saying we have to stay there for 120 years!

Those short term rental agreements are a bugger to get out of

 

[APACHE]

Have I got this right, the guy holding the shares wants his £3m. back that he put in and he'll hand them over but as a condition he wants HTFC to pay a bigger part of the rent, so that he's club pays less?

 

[Simster]

I'm failing to see a major issue here.

Town go into admin and hand over their shares cheaply in return for £3m investment presumably in order to avoid going to the wall.

Town recover and want their share of the stadium back. Holder of said shares agrees to sell back but only in exchange for the £3m he initially bailed them out with.

If that's it, I don't see why anyone should give a toss. If it isn't, could someone tell me what I've misunderstood?

 

[Terrier17]

Have I got this right, the guy holding the shares wants his £3m. back that he put in and he'll hand them over but as a condition he wants HTFC to pay a bigger part of the rent, so that he's club pays less?

He got the shares for £2 so he is making £3m plus buy giving the shares back. Plus we already pay the biggest part of the rent (75% of it) even though we own no shares!
And simster we didn't hand over the shares, Ken Davy when taking over the club secretly moved them into another company days after buying us. We found out a year or so later and that's when he used the excuses saying 'it was in the best interests for the club' and that is was to protect us. On our forum there is numerous threads on the issue that will explain everything better than what I can on here.

There is a lot more too this and the next few weeks/months should be interesting. I wouldn't say don't give a toss because it is important and I only know limited info on the issue. Like wise with yourself you know what its like with stadium issues and nowadays its getting more popular with clubs having money troubles etc

 

[Terrier17]

Also guys I forgot to mention this..... ww.thehdone.com

Add a 'w' on link as I can't post them yet

Its plans for a development to be built around the stadium. When ken Davy agreed to transfer the shares these plans we're dead on its arse. Now they look like it could well happen and Davy is holding out for the shares. Obviously because we won't make anything from them because we have no shares and it will all go to the greedy so and so!
Visiting supporters may think its great but if you ask many Huddersfield Town fans they'll think different!