The Archer Era

[drew]

7 Million into 23 million doesn't really work does it? Plus he had links with property developers due to the expansion of his Focus DIY chain.
So go figure!

Without wanting to defend Archer, no link has been found and it may well be that he felt that, with the failure of the planning permission the first time, that was all he was going to get in a quick sale. The value rocketed when the planning permission was granted for the various retail outlets on the site.

No, seagullsovergrimsby forgot to state that this was the value of the site after redevelopment.

The site hadn't been redeveloped at the time of the sale, it had just been cleared ready for construction.

 

[BensGrandad]

I am often accused of being pro Archer and Stanley so just to add to the one sided story. It was not Archers intention to bankrupt and close down BHA. The original intention was to build a ground on the A27 just west of Arundel in conjunction with Portsmouth FC, land that was owned by Gregory the then chairman of Portsmouth FC, and ground share a super new stadium. The selling of The Goldstone would have covered the clubs debts. Both A & S turned against the club when the supporters vetoed Fratton Park which was going to be a shared ground for a maximum of 2 years and in so doing got Police supports to oppose the ground share. That was when it all went down hill and the rest is history. The Goldstone was beyond economic repair and would have cost too much for too little at the end .

I am not trying to condone what they did or agree that it was correct just trying to clear up one fact that is always overlooked and given a different interpretation in the sequence of events thast nearly caused us to go out of the league.

 

[Insider]

Without wanting to defend Archer, no link has been found and it may well be that he felt that, with the failure of the planning permission the first time, that was all he was going to get in a quick sale. The value rocketed when the planning permission was granted for the various retail outlets on the site.




The site hadn't been redeveloped at the time of the sale, it had just been cleared ready for construction.

Wrong on both counts I am afraid. The site was sold as a football stadium in 1995, with planning permission already granted in 1993 by Hove Council (two separate councils in those days) for non-food retail units. We were supposed to vacate the site in 1996, but leased it back (believed to be at a cost of £480k from Chartwell, who bought it, although neither David Bellotti, Bill Archer or Chartwell confirmed this amount - Dick Knight may have subsequently, but worth checking with Tim Carder). In the year that passed, with Albion leaving the site, and it being sold to Lloyds Abbey Life, the site was cleared and units added, probably costing a couple of million at most (if that) and it is fair to say that the property market rose considerably in the immediate post-Labour-election-win period, but not by over 200%... so it suggests someone seriously undervalued the value of the site, either by mistake or with more scurilous and underhand motives... Of course Archer would not sell 100% to Dick Knight, and insisted on matching 49.5% shareholdings (each putting in £1.4m), with Martin Perry holding the balancing 1% at this time. I am glad to say Archer did not receive a return on that investment, as he only got £700k back, when Norman Cook and other financed the purchase of his shares for that figure.

In answer to the poster who asked why the Bloom family didn't step in, Tony probably wasn't even a millionnaire at that stage, he wasn't long out of Uni and I would guess was probably in the employ of someone else at that stage, before embarking on his own venture a few years on. It is only recently that Tony has earned his fortune, and he has been quick to plough it into the football club...

 

[Insider]

I am often accused of being pro Archer and Stanley so just to add to the one sided story. It was not Archers intention to bankrupt and close down BHA. The original intention was to build a ground on the A27 just west of Arundel in conjunction with Portsmouth FC, land that was owned by Gregory the then chairman of Portsmouth FC, and ground share a super new stadium. The selling of The Goldstone would have covered the clubs debts. Both A & S turned against the club when the supporters vetoed Fratton Park which was going to be a shared ground for a maximum of 2 years and in so doing got Police supports to oppose the ground share. That was when it all went down hill and the rest is history. The Goldstone was beyond economic repair and would have cost too much for too little at the end .

I am not trying to condone what they did or agree that it was correct just trying to clear up one fact that is always overlooked and given a different interpretation in the sequence of events thast nearly caused us to go out of the league.

Even if that was the case, and I have my own opinions which are very different, it still shows a huge lack of respect for BRIGHTON & HOVE Albion FC and PORTSMOUTH FC. I for one don't believe that. I met and interviewed Stanley two or three times at the time, and sometimes would bump into him in pubs around Arundel and East Preston, and he gave me different tales every time - I seem to recall this was another one of his fantasy theories, to try and curry favour with whoever would listen.

He was desperate to be popular. We all know he only made the infamous we'll only go to Portsmouth "over my dead body" speech at the Concorde after Ian Hart and Paul Samrah told him he had to say that to the hundreds of fans inside the tiny venue, otherwise he would be lynched. He was a quivering wreck back stage, totally out of his depth, and I think made the promise in fear of his personal safety. After that there was no going back on his word.

 

[KneeOn]

It makes you wonder why the Bloom family didn't step in then.

Didn't Tony Bloom not get his money through a massive investment and sales of betting websites, somthing that wouldn't have been very valuable during the 90's but with the take off in technology, became a much more viable business oppertunity?

EDIT: Insider had confirmed what i said in an earlier post!