Club Signs Stadium Contract

[desprateseagull]

Profile of the Buckingham group as listed on there web site.

I see they are quite involved in a lot of high profile projects which should give all albion fans peace of mind.


Buckingham Group Contracting - Sports & Leisure

glad to see the Millenium Dome was not one of theirs!

 

[Easy 10]

No

Although the release of the funds will be at different times, the overall funding would need to be agreed within certain boundaries and legally binding.

Who do you think might wish to lend the first amount without a GUARANTEE of further funds later.

What would they do with a reposessed brickwall on council owned land without any chance of a later income ?

Even in the bloated 80's you might struggle to find a backer in your scenario !!

Unless you are saying all finance is in place ?

I am sure we havent been told that.

Oh do f*** off.
You spout this endless speculative shite of yours over these financial contracts you know nothing about, as though it were fact. Like you have some inside track on things, and that you are so smart as to be one step ahead of everyone else, and that contrary to the statements from the club, the constructors and the fact that in a couple of weeks there will be DIGGERS on site, you in fact know that the funding isn't there and we're all pissing in the wind.

Give it a f***ing rest will you.

 

[Whitterz]

For f*** sake, who really gives a toss, the stadium is goin head, that is all that matters.

 

[BensGrandad]

Perahps I am missing something here but what right do we as mere supporters have to know whether or not the funding is in place and if so to what degree. If Buckingham's are confident that they will get paid and have signed a the contract then I am happy to accept that the funding that is needed for the first stage payment is in place, however and from where it has been obtained. Are we as supporters going to act as guarantors for the loan? No, so why should we know how much and from which bank etc.

 

[Barrel of Fun]

Is BigGully really a councillor? Must be the days of political correctness to allow someone so retarded in a position of 'relative' responsibility.

 

[chimneys]

Thats right, but without an indication that all the finance is in place, why would that contract be signed.

Either the funds are guaranteed or they are not.

Both ways the contract could still be signed but with different outcomes.

The contract would have certain clauses which would mean that they would not start building without a guarantee of payment, or would only start when proof of guaranteed funds or some payment however.

My point it doesn't seem to give the green light to securing the critical funds at present that would ensure the building of the stadium just now.

Big Gully I admire your sticking with this but I would suggest it now best to leave it there. Like you I will be delighted and will crack open the champers the second Martin states all funding is agreed, but until that day I am keeping my expectations as hopeful but not a certainty.

PS Could any of you who have stated above that Martin has confirmed that all funding is in place ready for whenever we need it please show where he has said it as I quite fancy a glass this morning. Thanks.

 

[Man of Harveys]

Oh do f*** off.
You spout this endless speculative shite of yours over these financial contracts you know nothing about, as though it were fact. Like you have some inside track on things, and that you are so smart as to be one step ahead of everyone else, and that contrary to the statements from the club, the constructors and the fact that in a couple of weeks there will be DIGGERS on site, you in fact know that the funding isn't there and we're all pissing in the wind.

Give it a f***ing rest will you.

Word. I don't do ignore lists but if I did, that incredibly boring and pointless PRICKATHON would simply be screaming out for it.

 

[Icy Gull]

How this news can be anything but great news is beyond me.

 

[Guy Fawkes]

Perahps I am missing something here but what right do we as mere supporters have to know whether or not the funding is in place and if so to what degree. If Buckingham's are confident that they will get paid and have signed a the contract then I am happy to accept that the funding that is needed for the first stage payment is in place, however and from where it has been obtained. Are we as supporters going to act as guarantors for the loan? No, so why should we know how much and from which bank etc.

Thats right, I certainly don't remember any major (or for that matter minor) building projects that have announced in minute detail exactly where every penny needed to complate it had come from so why should our club be the first to do so?


I think that this need to know is more about the fact that it has taken so long since leaving the Goldstone that they think that something will come along to prevent this from ever happening, therefore questioning everything that could possibly delay / stop it from happening and they will continue to do so until its finally built and opened.

 

[The Large One]

Big Gully I admire your sticking with this but I would suggest it now best to leave it there. Like you I will be delighted and will crack open the champers the second Martin states all funding is agreed, but until that day I am keeping my expectations as hopeful but not a certainty.

PS Could any of you who have stated above that Martin has confirmed that all funding is in place ready for whenever we need it please show where he has said it as I quite fancy a glass this morning. Thanks.

Last week's show with Martin Perry will still be there until mid-afternoon today.

Hopefully that might answer some queries...

RadioReverb | Community Radio | Brighton, UK: The Albion Roar

 

[warsaw]

This is fantastic news. Congratulations to everyone involved in getting it to this point despite the best efforts of our opponents.

As for all the bollox on here about the funding, I don't give a f***. Worst case scenario now is that funding falls through for the final stage of completion. Would it get demolished and returned to a ploughed field? No, of course it wouldn't.

And once you have contractors actually on site and sticking up concrete and steel, and a pitch marked out, we are going to be a prime candidate for big investment.

The war is over, and we won:yahoo::yahoo::yahoo:

 

[Giraffe]

I am sorry but I have to join in here and support the sentiment of what Big Gully is saying.

Of course it is good news that the Buckingham Group have signed up and work is about to start. But the harsh reality is that the Albion are not in control of what is happening in the financial world.

The signing of this contract as mentioned already signifies they have sufficient funds to pay the contractors for the first phase, up until April. However this is a small part of the process and a small percentage of the funding.

The real funding will be needed in April when the proper stadium building will commence.

So that people understand the problem the Albion may have.Funding is generally not available to ANYONE at the moment. I have been involved in a lot of funding requests both before and after October this year. Basicallly identical requests are being treated totally differently. Requests that went through on a nod before are now all being turned down. The majority of banks are NOT agreeing funding requests now. As MP made clear in his blog in OCtober the funding was not agreed, and has not mentioned it since it is clear the club have taken the sensible decision to delay obtaining finance until the new year. I would therefore not expect an announcement until then.

The harsh reality that the Albion and every other business face is that they need the banking world and the problems they are in to thaw very quickly.

Predictions made by some suggest that this funding problem will take some time to ease but of course it will do so in time, but there s absolutely no doubt that the Albion will not obtain funding at the current time.

I am not saying that they can not build the stadium, as I believe they certainly can, and the bank funding is a small enough part of the package, about half, to achieve this in a normal financial world. Sadly the current financial climate is not normal.

Once it is, the stadium will be built. It is not inconceivable this could happen by next April, but its not a done deal.

And one final point repeated again, as others seem in denial. If the club had the full finance they would say so. Not the details just simply "the funding is in place". They have not done so, and even my question on "ask the club" has been ignored for a week.

This isn't a pop at the club, I am sure they are doing all they can, but it is a wake up call for anyone out there who thinks the money is in place. It need not be a problem, but please don't have a go at people who are just trying to give a professional view on the situation, whilst like all fans we are delighted that there is still that light at the end of the tunnel.

 

[steward 433]

Giraffe, as has been pointed out on here several times the club has had to prove to the council that the funding is available (not all sitting in the bank) before the land was signed over.

 

[Giraffe]

Giraffe, as has been pointed out on here several times the club has had to prove to the council that the funding is available (not all sitting in the bank) before the land was signed over.

The club proved the ability to raise finance, that's different. Sorry but the banking world changed hugely since then, and its a totally different world now. Thats a fact.

 

[steward 433]

The club proved the ability to raise finance, that's different. Sorry but the banking world changed hugely since then, and its a totally different world now. Thats a fact.

But the lender would have been asked to guarantee the deal for a period of time therefore the funds will be available and the banks can't back out of the legal agreement.

I know the banking world has changed but the legal bindings of the offers will have stuffed the banks.

 

[Westdene Seagull]

The club proved the ability to raise finance, that's different. Sorry but the banking world changed hugely since then, and its a totally different world now. Thats a fact.

Agreed it is different from a year ago BUT the council handed the land over last month so they must have still been satisfied that the funding would be available otherwise they wouldn't have handed it over.

 

[Giraffe]

But the lender would have been asked to guarantee the deal for a period of time therefore the funds will be available and the banks can't back out of the legal agreement.

I know the banking world has changed but the legal bindings of the offers will have stuffed the banks.

Agreed if they managed to get a legal agreement tied up with the banks before end of September/early October then that would be the case. However in Martin's Perry's blog of early October he stated that discussions were ongoing with banks and that this would be tied up in the next few weeks. He hasn't mentioned it since....

 

[steward 433]

Agreed if they managed to get a legal agreement tied up with the banks before end of September/early October then that would be the case. However in Martin's Perry's blog of early October he stated that discussions were ongoing with banks and that this would be tied up in the next few weeks. He hasn't mentioned it since....

As in which offer to accept maybe

If an offer was there then it wouldn't be an issue and i would imagine more than one offer is there as we speak.

 

[Giraffe]

Agreed it is different from a year ago BUT the council handed the land over last month so they must have still been satisfied that the funding would be available otherwise they wouldn't have handed it over.

Can you imagine the council not agreeing to hand over the land. That would be an astonishing development. And there is no reason for them to do so. There is every expectation that this will happen. All I am saying is the funding is not yet signed in full. That wouldn't stop the council handing over the land.

 

[Giraffe]

As in which offer to accept maybe

If an offer was there then it wouldn't be an issue and i would imagine more than one offer is there as we speak.

An offer is not the same as a legal agreement. Until the bank signs it can still be pulled out. I am not trying to be a doom mongerer as I still think the funding will be obtained in the new year but it clearly isn't now.

To give you an example. Recently I was involved with a funding request that had informally been agreed one day and the following Monday the bank was told by their credit HQ that no more funding was available across the whole bank. This meant that any deal that had not been signed was immediately postponed regardless of what had been "agreed" but not signed by the bank.