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 How is it being funded?

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Sir Francis Drake

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PostSubject: Re: How is it being funded?   Mon Sep 11, 2017 1:22 pm

The £4.1m is already done.

I suspect that Hallett couldn't pull it out without Brent's say so even if he wants to.
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Dingle



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PostSubject: Re: How is it being funded?   Mon Sep 11, 2017 1:25 pm

So what is the monthly charge to PAFC for having such a rosey bank balance.
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Les Miserable

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PostSubject: Re: How is it being funded?   Mon Sep 11, 2017 1:28 pm

I suspect he could, unless he was 'green' enough to proceed without clauses.....moving the goalposts on the planning application for instance.
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Frank Bullitt

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PostSubject: Re: How is it being funded?   Mon Sep 11, 2017 1:42 pm

Maybe Brent could use the £5.5 million he is getting from the sale of the Pavilions to fund a promotion push?
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Yea Man
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PostSubject: Re: How is it being funded?   Mon Sep 11, 2017 1:45 pm

So that means whoever has purchased the pavilions from Brent is now liable for the "continual ice" agreement?

Where does that leave Argyle if Brent gets planning permission and then sells to the person who has purchased the pavilions?
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Frank Bullitt

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PostSubject: Re: How is it being funded?   Mon Sep 11, 2017 1:46 pm

It leaves Argyle "sold down the river" if the views of some of directors are to be believed.
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PostSubject: Re: How is it being funded?   Mon Sep 11, 2017 1:50 pm

Oh God. I need extra popcorn supplies! laugh
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Homeslice

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PostSubject: Re: How is it being funded?   Mon Sep 11, 2017 1:57 pm

[You must be registered and logged in to see this link.]

Anybody recognise any names on this document?
Author! Author!


Last edited by Homeslice on Mon Sep 11, 2017 1:58 pm; edited 1 time in total
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akagreengull

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PostSubject: Re: How is it being funded?   Mon Sep 11, 2017 1:58 pm

Frank Bullitt wrote:
Maybe Brent could use the £5.5 million he is getting from the sale of the Pavilions to fund a promotion push?

laugh laugh laugh
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Dingle



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PostSubject: Re: How is it being funded?   Mon Sep 11, 2017 2:15 pm

£5.5 M - has a rich Russian at last discovered the Ocean city. Why would anyone spend that much on something the previous owner bought just a few years for £1. Has a fortune been spent of refurb?
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Frank Bullitt

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PostSubject: Re: How is it being funded?   Mon Sep 11, 2017 2:18 pm

I have been wondering why Nool has been in such a state of meltdown recently. Now I can think of 5.5 million reasons.
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Dick Trickle



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PostSubject: Re: How is it being funded?   Mon Sep 11, 2017 2:22 pm

Homeslice wrote:
[You must be registered and logged in to see this link.]

Anybody recognise any names on this document?
Author! Author!

Nah, there must be two Tony Hopwood's working in Plymouth and both in planning. It can't be the same Tony Hopwood that is the project manager on HHP. That would be too much of a coincidence.
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Homeslice

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PostSubject: Re: How is it being funded?   Mon Sep 11, 2017 2:27 pm

Dick Trickle wrote:
Homeslice wrote:
[You must be registered and logged in to see this link.]

Anybody recognise any names on this document?
Author! Author!

Nah, there must be two Tony Hopwood's working in Plymouth and both in planning. It can't be the same Tony Hopwood that is the project manager on HHP. That would be too much of a coincidence.

You'd have to hope so, because the implications of a senior council officer going to work for the person who he'd just allowed to buy a multi million pound council-owned asset for a mere quid don't bear thinking about. I'm sure there's nothing to worry about and the whole thing isn't in the least bit shady.
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Frank Bullitt

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PostSubject: Re: How is it being funded?   Mon Sep 11, 2017 3:07 pm

Dingle wrote:
£5.5 M - has a rich Russian at last discovered the Ocean city.  Why would anyone spend that much on something the previous owner  bought just a few years for £1.  Has a fortune been spent of refurb?

I don't think it has.
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Les Miserable

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PostSubject: Re: How is it being funded?   Mon Sep 11, 2017 3:15 pm

They jet washed the glass outside and changed a few spotlight bulbs a few months ago......self sustainability has been the key to the success story that is the Plymouth pavilion.
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Peggy

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PostSubject: Re: How is it being funded?   Mon Sep 11, 2017 3:15 pm

Homeslice wrote:
Dick Trickle wrote:
Homeslice wrote:
[You must be registered and logged in to see this link.]

Anybody recognise any names on this document?
Author! Author!

Nah, there must be two Tony Hopwood's working in Plymouth and both in planning. It can't be the same Tony Hopwood that is the project manager on HHP. That would be too much of a coincidence.

You'd have to hope so, because the implications of a senior council officer going to work for the person who he'd just allowed to buy a multi million pound council-owned asset for a mere quid don't bear thinking about. I'm sure there's nothing to worry about and the whole thing isn't in the least bit shady.

I'm sure you're right. There must be two.

Nothing to see here. Concentrate on the football.
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Dingle



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PostSubject: Re: How is it being funded?   Mon Sep 11, 2017 3:18 pm

Good idea Peggy. Now if only we had an ambitious owner willing to invest in the team rather than an office block and fast food outlets, we might even be able to afford a decent striker.
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Yea Man
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PostSubject: Re: How is it being funded?   Mon Sep 11, 2017 3:35 pm

So if Brent has sold the Pavilions for 5.5mil and made a tasty little profit from his  £1 investment will he use that to pay for the grandstand as a true chairman who fully cares about his club? Because remember he isn't a property developer, he attends every game and his lip even quivers so by investing this "free" profit into the club he'd show what a truly awesome guy he is.
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RegGreen



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PostSubject: Re: How is it being funded?   Mon Sep 11, 2017 4:00 pm

nzgreen wrote:
Sir Francis Drake wrote:
I don't recall seeing any speculation about how HHP2 is being funded.

However we do now know that Brent has shown a historical reluctance to put forward his own money for anything so it is probably fair to assume that he isn't putting it forward this time either.

What we do know is that HHP2 ties lots of different things together: ice rink, gym, offices, hotel, coffee shops, bars, restaurants and so on which will all be built on Brent's land and the grandstand refurb which will happen on Argyle's land.

This begs the question of why that need be the case?

The direct result is that for any of it to go ahead then all of it must. This means that the "new" grandstand can't be started until the huge office block is OKed along with all the other bits. We also know that the Highways Agency has asked for a 6 month deferment so we won't be refurbing the grandstand for at least 6 months.

Meanwhile the £4.1m mortgage agreed with Hallett is sitting there earning interest which is payable by the club as it sits on its newly acquired £4.1m so regardles of anything else Brent's development plan is already bleeding money out of the club that could be spent on players or the grandstand or whatever. But it isn't. It is being spent on interest that is being accrued on a loan we don't need (yet) and can't use.

And all for no good reason because there was no need to tie it all together. It was a policy decision and deliberate strategy on Brent's part but to what end? Why?

And all the while there is the continuing pressure to provide "continuous ice". This is both council policy and is something Brent signed up to so if the council rejects his application then he can probably say that it was them and not him who broke the clause. God knows what the ramifications of that might be.

The pressure on PCC to approve the application must be enormous and the desire of us as supporters to see the grandstand finally get sorted can only be adding to it.

None of that actually supplies funding to build though, does it? Planning consent, if granted, will see an uplift in the value of the land so Brent could borrow against that but the real stroke of genius would be to sell the Pavillions - valued at around £5.5m I believe. Brent would then also shed the obligation to provide continuous ice to whoever he sold it to, would not need to actually build or pay for the ice rink but would be sitting on land that had planning permission for an ice rink already granted giving his land at HHP another nice lift fillip in value.

If that, or something like it, was the plan it would meet all the usual requirements of Brent's normal modus operandi: get this to pay for that, get planning permission but never actually build anything, buy low and sell high (he only bought the Pavillions for £1 let's not forget) and maximise the value of any land that comes his way with a complete disregard for anything not wholly profitable to himself alone.

Obviously Argyle gets royally shafted but that doesn't really come into it as a serious consideration. The other directors might not like it, and would probably be furious to the point of realising that their positions were untenable and be planning their boardroom departures rather than be a party to it all but hey ho thems the breaks.

I'm just a simple Janner but were I he that's something like how I might try to make some wonga out of the situation.

Good post.
Brent is trying his hardest after his abject failure to deliver hhp mark 1. The consequent snub to him by PCC regarding the bus station revamp must still wrangle Brent.
With this latest play of his it looks and feels like he is going all in. He obviously has not dotted all the i's and crossed the t's because as Graham Clarke smartly pointed out The Highways Agency want a 6 month delay.
Purchased the pavillions for 1 pound plus the council gave him £1million as well lets not forget to cover so called loses plus he used 150k of the clubs money for a loan to the pavillions his and starnes ticketing wheeze
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RegGreen



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PostSubject: Re: How is it being funded?   Mon Sep 11, 2017 4:09 pm

Les Miserable wrote:
They jet washed the glass outside and changed a few spotlight bulbs a few months ago......self sustainability has been the key to the success story that is the Plymouth pavilion.
Went pass there today it looks like a shit the place looks rotten gawd knows how long ago it was jet wash then les
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akagreengull

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PostSubject: Re: How is it being funded?   Mon Sep 11, 2017 4:15 pm

The Pavillions is a badly designed shithole - like the Moanflower it needs raising to the ground and starting again.
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Dingle



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PostSubject: Re: How is it being funded?   Mon Sep 11, 2017 4:16 pm

Yea Man wrote:
So if Brent has sold the Pavilions for 5.5mil and made a tasty little profit from his  £1 investment will he use that to pay for the grandstand as a true chairman who fully cares about his club? Because remember he isn't a property developer, he attends every game and his lip even quivers so by investing this "free" profit into the club he'd show what a truly awesome guy he is.

I can see it all now, £5m profit from the Pavillions plus the loan from Mr Hallett will make up the £10m to build a proper new grandstand rather than the temporary refurb.
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PostSubject: Re: How is it being funded?   Mon Sep 11, 2017 4:25 pm

with white oak doors and stainless steel handrails back in the design?
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sufferedsince 68

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PostSubject: Re: How is it being funded?   Mon Sep 11, 2017 5:38 pm

PatDunne wrote:
This Graham Clark you speak of, does he post on Pasoti?
Sadly no, he refused to put in a bid on a pair of Jimmys, old grey Bellypoppers that knobber, was flogging and was booted off.
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