What's going on at Cardiff then?

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Ex Shelton Seagull

New member
Jul 7, 2003
1,522
Block G, Row F, Seat 175
Saw a story yesterday about how their staff hadn't been paid last months wages and that their new stadium had been delayed. This latest story seems to be more detailed and makes interesting reading. Seems we're not the only ones who have trouble trying to get a ground.

Hysteria spread amongst City fans yesterday after the cryptic message on the official website announcing yet another delay to the start of the new stadium. Are we heading for financial meltdown?

Scepticism reached an all time high yesterday with reports that the player's wages had not been paid and work on the new stadium is to be put back AGAIN. The wage situation has not been mentioned in the press today suggesting that it has been sorted, but the stadium saga remains unclear.
Sam Hammam declared that it was 'all systems go' in January after the club received the go ahead for the stadium plans. The technicalities remaining were described as 'minor' and work, Sam promised, would start in just 100 days. Sadly, once again, we have been misinformed by our most confusing club.
Today, with cynicism rising with each distorted piece of information we are fed, the club are trying to put a brave face on the situation.
Hammam and the other directors met last night to discuss the latest delay. The Western Mail claims that we need to find a further £16m to prove that the project is viable. A £16m shortfall suggests to me that we are far from 'all systems go'. Where this money is going to come from is unclear.
The massive shortfall, however, is not the reason for this latest delay. The council claim that legal agreements need to be reached between Capital and Regional and the retailers.
"These legal matters need to be addressed in accordance with the requirements of the planning authority," said a spokesperson for the council.
"These were known at the time of the planning consent being given, but have taken longer to finalise than anticipated.
"The council isn't aware of any impediments that would prevent these agreements being concluded, but is not directly involved in the process which is between Capital and Regional and their tenants."
Once these legal issues are resolved, the final green light can be given. The problem is, we have seen the 'final green light' at least three times already. Even when everything is in place to start, there must be a 90 day period during which public objections, for what they are worth, can be heard. It is this 90 day rule which has forced the club to announce that the diggers will not move in to Leckwith until July at the earliest. In reality we are now looking at a possible completion date of 2007/08.
Sam Hammam explained: "I thought 2003 would be the absolute latest construction on a new stadium would start," he said earlier this year.
"But the earliest it can happen will be May this year - two years after what I thought would be the latest date!
"It has been a very frustrating time. It has also been a very harrowing experience.
"I've poured my heart into the stadium and I took a major financial risk with it."
Once again a situation has been created by the club where we are told the bare minimum and as a result all sorts of speculation and pessimism arise. Time and time again the club tell us one thing and then do the exact opposite. The drips of information we receive are not enough to build an understanding on the situation and as a result rumours spill over the internet like a virus. The lack of honesty means that many fans are losing faith in Sam and 'honest' Temme, both of which have destroyed clubs in the past.
All we ask for, all we demand, is straightforward, easily understandable truths.
 








sully

Dunscouting
Jul 7, 2003
7,982
Worthing
Albion Dan said:
It does make me worry where we are going to get the money from to build Falmer I have to admit.

Why?

It's not relevant.

The two projects are not related in any way whatsoever.
 






Tooting Gull

Well-known member
Jul 5, 2003
11,035
26-10-02 said:
No you ar small with no prospects Cardiff are the opposite:yawn:

That's a particularly gay cake you have as an avatar. Are you on here cruising or something?
 


26-10-02

FFS MURRAY!!!!!!!!
Apr 22, 2004
1,182
purley
Tooting Gull said:
That's a particularly gay cake you have as an avatar. Are you on here cruising or something?
Couldn't be a better place for that could there!:eek:
They gave it as it's my birthday and I am the most popular board member and one of the few on here who speak sense:drink:
 






perseus

Broad Blue & White stripe
Jul 5, 2003
23,467
Sūþseaxna
The original shortfall for the mortgage for Falmer was estimated at £10 million which I translated at £15 million.

Now it seems to have escalated to £29 million.

This is a serious difference or it leaves no margin for failure (e.g. not getting 14,000 minimum gate).

I am not appraised of the Falmer details, but it does seem to me that if an alternative site was available at a substantial reduced cost, it should at least be looked into. (£29 million is an awful lot of Haddock!)

I don't count Toad's Hole Valley as a reasonable alternative though. It would not be any cheaper and it is not so good as Falmer and the land owners are too greedy.
 




Yorkie

Sussex born and bred
Jul 5, 2003
32,367
dahn sarf
26-10-02

Your signature looks very foolish when you consider that Smith did score - the first of the two goals at Wembley.
 






WATFORD zero

Well-known member
NSC Patron
Jul 10, 2003
29,370
To be fair Yorkie, his signature is the least foolish thing, once you've read his posts
 


Titanic

Super Moderator
Helpful Moderator
Jul 5, 2003
40,419
West Sussex
perseus said:
The original shortfall for the mortgage for Falmer was estimated at £10 million which I translated at £15 million.

Now it seems to have escalated to £29 million.

This is a serious difference or it leaves no margin for failure (e.g. not getting 14,000 minimum gate).

I am not appraised of the Falmer details, but it does seem to me that if an alternative site was available at a substantial reduced cost, it should at least be looked into. (£29 million is an awful lot of Haddock!)

I don't count Toad's Hole Valley as a reasonable alternative though. It would not be any cheaper and it is not so good as Falmer and the land owners are too greedy.

You just don't get it, do you ? :angry: :censored: :angry:
 






Ex Shelton Seagull

New member
Jul 7, 2003
1,522
Block G, Row F, Seat 175
:bounce:

I got the drop on the Cardiff news story yesterday and wanted it to turn into a reasonable discussion on one of our fellow bottom of the table clubs. And to ask if a blue/blue fans united scarf would really work.

Instead it attracted a Palarse fan celebrating his 9th birthday with rather too much Panda Cola, and possibly one of Percy's most flammatory statements about Falmer.

Bah.
 


Tom Bombadil

Well-known member
Jul 14, 2003
6,139
Jibrovia
perseus said:
The original shortfall for the mortgage for Falmer was estimated at £10 million which I translated at £15 million.


That about sums you up really. Ignore the facts you're given and just invent something. You really do live on another planet.
 


perseus said:
The original shortfall for the mortgage for Falmer was estimated at £10 million which I translated at £15 million.

Now it seems to have escalated to £29 million.

This is a serious difference or it leaves no margin for failure (e.g. not getting 14,000 minimum gate).

I am not appraised of the Falmer details, but it does seem to me that if an alternative site was available at a substantial reduced cost, it should at least be looked into. (£29 million is an awful lot of Haddock!)

I don't count Toad's Hole Valley as a reasonable alternative though. It would not be any cheaper and it is not so good as Falmer and the land owners are too greedy.
I really am getting fed up with perseus distorting the truth about Falmer.

The "mortgage" for Falmer is NOT £29 million.

The figures submitted to the Public Inquiry by the Albion show a borrowing requirement of £24,122,000.

The figure of £29 million (which I think perseus probably got from one of my daily reports on the Inquiry) is the maximum figure that the Club could afford to borrow if it was to keep within the prudent limits that the directors have set. These limits are based on a simple formula - spend no more than 60 per cent of turnover on wages; allow 15 per cent for other running costs; commit no more than 25 per cent of turnover to debt repayments.

Current estimates of the Falmer stadium costs (which include estimates for inflation and contingencies) are that the annual "mortgage" repayment will be £1,954,000 (or 20.7 per cent of turnover).

The total cost of the Falmer project is estimated at £50,723,000, with £26,601,000 of this being funded not by loans but by capital funds that are available from a variety of sources, including the football authorities, economic development funds and a new share issue.
 




Albion Rob

New member
Lord Bracknell said:
I really am getting fed up with perseus distorting the truth about Falmer.

The "mortgage" for Falmer is NOT £29 million.

The figures submitted to the Public Inquiry by the Albion show a borrowing requirement of £24,122,000.

The figure of £29 million (which I think perseus probably got from one of my daily reports on the Inquiry) is the maximum figure that the Club could afford to borrow if it was to keep within the prudent limits that the directors have set. These limits are based on a simple formula - spend no more than 60 per cent of turnover on wages; allow 15 per cent for other running costs; commit no more than 25 per cent of turnover to debt repayments.

Current estimates of the Falmer stadium costs (which include estimates for inflation and contingencies) are that the annual "mortgage" repayment will be £1,954,000 (or 20.7 per cent of turnover).

The total cost of the Falmer project is estimated at £50,723,000, with £26,601,000 of this being funded not by loans but by capital funds that are available from a variety of sources, including the football authorities, economic development funds and a new share issue.

You've answered a question I was thinking about last ni9ght.

Thanks.

:thumbsup:
 


perseus

Broad Blue & White stripe
Jul 5, 2003
23,467
Sūþseaxna
Is it going to be a voting share issue or a Delia Smith style share issue (no voting rights for the share issue at Norwich)?
 


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