Iron Curtain 60 Posted October 26, 2012 Share Posted October 26, 2012 Document on Twitter doing the rounds, anyone know about this, it can't be right? Lot of rubbish about San Giro being worth £50m too!I have a Heads of Terms document for the sale and leaseback of Ibrox, Murray Park and the Albion Car Park.The purchase price for all three assets is £7.285m. In addition to this there is a £6.55m loan provision with 15% interest payable monthly (£985.5k annually). Initial rent for all three properties is £1.8m. The 20-year lease provides for upwards-only reviews every five years by either 2% p.a. or RPI, whatever is greater (so assuming RPI is less than 2% each year, after five years, rent would be £1.987m).Annual costs for rent and interest would be £2.785m. Current season ticket sales are reported to be approximately 36,000 with a standard adult price of £286, income net of vat will be around £8.5m.Although the top line figure for both sale and loan is £13.835, “the initial payment will be less 3 years rent [£5.4m] to compensate for the lack of guarantee covering the rental payments”, so monies paid would be £8.435m as the first three years rent is deducted from the total.Crucially, rent is to be securitised against ticket receipts and the new landlord is to be granted “first charge on the season tickets”, so, just as Craig Whyte planned with Rangers, Sports Direct FC would collect ticket money before passing it on to the security holder.If the buyer attains planning permission for residential properties at Murray Park, a provision releases the seller from having to repay the £6.55m loan and cancels future interest payments. This speculative clause would release the club from punitive interest repayments but would require them to find a reasonably priced ash park to train on. Perhaps the Albion Car and Training Park.“The tenant” will be able to buyback the stadium. In year one the price would be £10m (they would still owe the £6.55m loan). The set price increases by 12% p.a. for 10 years, so the year 10 price would be £27.7m. Thereafter “price will revert to Market Value but will not be less than £20m”. The market value of Celtic Park is around £50m. There is no buyback provision for Murray Park or the Albion Car Park.The deal is on the table but will not be signed before the share issue, or if “the tenant” wins the Euromillions Jackpot (that’s not a euphemism for Champions League money, I mean the actual lottery), or finds some magic beans. Link to post Share on other sites More sharing options...
SwallowsHisOwnSpunk 7,798 Posted October 26, 2012 Share Posted October 26, 2012 obsessed Link to post Share on other sites More sharing options...
ForeverBlue_Since91 2,895 Posted October 26, 2012 Share Posted October 26, 2012 Who wrote this? Link to post Share on other sites More sharing options...
SwallowsHisOwnSpunk 7,798 Posted October 26, 2012 Share Posted October 26, 2012 Who wrote this?some fenian fantasist no doubt. Link to post Share on other sites More sharing options...
Iron Curtain 60 Posted October 26, 2012 Author Share Posted October 26, 2012 Who wrote this?It was on Twitter, someone sent it tio Tom English. Link to post Share on other sites More sharing options...
RAFREG 471 Posted October 26, 2012 Share Posted October 26, 2012 Get this tae fuck. Link to post Share on other sites More sharing options...
The Educator 1,572 Posted October 26, 2012 Share Posted October 26, 2012 Link to post Share on other sites More sharing options...
ForeverBlue_Since91 2,895 Posted October 26, 2012 Share Posted October 26, 2012 It was on Twitter, someone sent it tio Tom English.Well that explains it. Link to post Share on other sites More sharing options...
Gaz92 966 Posted October 26, 2012 Share Posted October 26, 2012 Link to post Share on other sites More sharing options...
linfield1690 4,249 Posted October 26, 2012 Share Posted October 26, 2012 Fucking reeking! Link to post Share on other sites More sharing options...
Iron Curtain 60 Posted October 26, 2012 Author Share Posted October 26, 2012 well, Its of interest to someone like myself, planning to invest...bet your bottom dollar it is.If this is right then that means Bomber was maybe right too, after all that stick he took. Link to post Share on other sites More sharing options...
Bill tells the struth 45 Posted October 26, 2012 Share Posted October 26, 2012 So some bloke on the Internet types something and it becomes true! Nae bother ya ballon. Link to post Share on other sites More sharing options...
Iron Curtain 60 Posted October 26, 2012 Author Share Posted October 26, 2012 So some bloke on the Internet types something and it becomes true! Nae bother ya ballon.I said it looks of interest, its getting a fair bit of attention, would never have posted otherwise.and..."ya ballon"?? Link to post Share on other sites More sharing options...
Getstiffed 8,863 Posted October 26, 2012 Share Posted October 26, 2012 Link to post Share on other sites More sharing options...
ForeverBlue_Since91 2,895 Posted October 26, 2012 Share Posted October 26, 2012 well, Its of interest to someone like myself, planning to invest...bet your bottom dollar it is.If this is right then that means Bomber was maybe right too, after all that stick he took.Is that not what "bomber" was planning on doing himself? Link to post Share on other sites More sharing options...
catmick 6 Posted October 26, 2012 Share Posted October 26, 2012 The three assets were independently valued last week at 80m Link to post Share on other sites More sharing options...
linfield1690 4,249 Posted October 26, 2012 Share Posted October 26, 2012 And we have other breaking news reaching us here at RM this hour I can exclusively reveal that large John was indeed well aware but said nothing Link to post Share on other sites More sharing options...
ForeverBlue_Since91 2,895 Posted October 26, 2012 Share Posted October 26, 2012 I said it looks of interest, its getting a fair bit of attention, would never have posted otherwise.and..."ya ballon"?? Obviously it's getting a "fair bit of attention" from taigs. Anything that comes up that looks dodgy for Rangers their all over it. Link to post Share on other sites More sharing options...
Bill tells the struth 45 Posted October 26, 2012 Share Posted October 26, 2012 I said it looks of interest, its getting a fair bit of attention, would never have posted otherwise.and..."ya ballon"?? It's twatter were talking about here anybody can get anything trending twatter and deluded gallons like yourself will take it as gospel. Link to post Share on other sites More sharing options...
BEE 4,880 Posted October 26, 2012 Share Posted October 26, 2012 Tommy Burns, Burns, Burns - and so does Doyle! Link to post Share on other sites More sharing options...
Jonok 1,245 Posted October 26, 2012 Share Posted October 26, 2012 Seems this was posted on FF then hastily removed. They are obsessed. Link to post Share on other sites More sharing options...
jcb 1,167 Posted October 26, 2012 Share Posted October 26, 2012 Who wrote this?Have been told it comes from Paul Brennan at CQN. Link to post Share on other sites More sharing options...
Iron Curtain 60 Posted October 26, 2012 Author Share Posted October 26, 2012 Thought it was worth looking at from an investors point of view, feel free to remove admin if that is an issue. Link to post Share on other sites More sharing options...
ForeverBlue_Since91 2,895 Posted October 26, 2012 Share Posted October 26, 2012 Thought it was worth looking at from an investors point of view, feel free to remove admin if that is an issue.Are you an investor? Are you looking to get your money back? Link to post Share on other sites More sharing options...
hemdale1873 167 Posted October 26, 2012 Share Posted October 26, 2012 Time for Chuck green to start taking legal action against pish sites like Celtic queer news. Link to post Share on other sites More sharing options...
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