Stadium expansion

[ozvaldo]

This won’t happen whilst King Power are still around. They’re currently looking to sell. (Which is proving tricky due to our poor league position). 
These stadium expansion plans have been put in place to make us more appealing to a potential buyer, and to enable Top to sell us for a higher price. 

KP don’t have the funds for the expansion.

 

We can’t afford a right winger. There’s no way they can afford to expand the stadium right now. 

[Dames]

8 minutes ago, hackneyfox said:

There are 700 tickets available for the Palace game, hardly 2-3k.

The game is televised and it's the start of half term so hardly a surprise that there are tickets available.

We were pretty much 2k short for the Southampton game.

 

There is 700 tickets available but how many won't show? 

[somebum]

14 minutes ago, ozvaldo said:

This won’t happen whilst King Power are still around. They’re currently looking to sell. (Which is proving tricky due to our poor league position). 
These stadium expansion plans have been put in place to make us more appealing to a potential buyer, and to enable Top to sell us for a higher price. 

KP don’t have the funds for the expansion.

 

We can’t afford a right winger. There’s no way they can afford to expand the stadium right now. 

Interesting take. 

 

Out of interest, what makes you think they are looking to sell?

[hackneyfox]

There will always be STs that don't show for games, they still count towards the final attendance though. Was the Southampton attendance under 29k?

Those STs that don't show will still renew next season, nobody gives up a ST based on one season, it's almost impossible to get a new one and you'd have lost all those hard earned priority points.

Edited 11 October 2022 by hackneyfox

[hackneyfox]

16 minutes ago, ozvaldo said:

This won’t happen whilst King Power are still around. They’re currently looking to sell. (Which is proving tricky due to our poor league position). 
These stadium expansion plans have been put in place to make us more appealing to a potential buyer, and to enable Top to sell us for a higher price. 

KP don’t have the funds for the expansion.

Top told you this did he?

[An Sionnach]

19 minutes ago, somebum said:

Interesting take. 

 

Out of interest, what makes you think they are looking to sell?

Absolutely nobody on here will know King Power's current plans. What we do know is the estimated value of the company has declined dramatically. In those circumstances disposing of fringe assets like football clubs is usual practise. There certainly would be interest from overseas buyers in our club and on the assumption we survive in the PL , having planning permission to extend the stadium would probably make us more attractive. However whatever happens ,I don't think a start on the project is imminent at all.

[alanf0x]

42 minutes ago, ozvaldo said:

This won’t happen whilst King Power are still around. They’re currently looking to sell. (Which is proving tricky due to our poor league position). 
These stadium expansion plans have been put in place to make us more appealing to a potential buyer, and to enable Top to sell us for a higher price. 

KP don’t have the funds for the expansion.

 

We can’t afford a right winger. There’s no way they can afford to expand the stadium right now. 

All sounded quite sensible until the final paragraph! 

[Sunbury Fox]

No point starting work on this given our current plight and the cost of living crisis, which is certain to hit attendances over time. 

[Voll Blau]

If your main concern about the expansion is Facebook banterlads giving us grief about empty seats then you need to pressure LCFC to lower matchday prices so that more people on lower incomes will be able to go to games when it happens.

 

Oh, and stop giving a shit about what Facebook banterlads think.

[Hitesh]

1 hour ago, ozvaldo said:

This won’t happen whilst King Power are still around. They’re currently looking to sell. (Which is proving tricky due to our poor league position). 
These stadium expansion plans have been put in place to make us more appealing to a potential buyer, and to enable Top to sell us for a higher price. 

KP don’t have the funds for the expansion.

 

We can’t afford a right winger. There’s no way they can afford to expand the stadium right now. 

All plausible if you discount the fact we've financed this through a loan secured against future TV money...the same as what we did for the training ground (well before the Slabhead money)

[Clever Fox]

1 hour ago, ozvaldo said:

This won’t happen whilst King Power are still around. They’re currently looking to sell. (Which is proving tricky due to our poor league position). 
These stadium expansion plans have been put in place to make us more appealing to a potential buyer, and to enable Top to sell us for a higher price. 

KP don’t have the funds for the expansion.

 

We can’t afford a right winger. There’s no way they can afford to expand the stadium right now. 

I haven't seen any evidence to support this view.

 

Top has just spent 200 million buying an island, He's clearly not too concerned about finances given that KP have lost nearly 2 billion due to Covid.

 

Assuming the development money will be borrowed for the build. The returns of 25 to 30 million per year after completion makes it very attractive.

As with most Mortgages , Repayments may not even begin until after all the development is completed and opens, Which is at least a couple of years away.  By this time KP may have recovered a fair bit of lost ground also and the Clubs finances will have improved greatly. By player sales or wages off the books at end of Contracts.

Don't forget also the new Income will be rising year on year while the Mortgage stays the same.

 

This makes In the return to investment ratio very attractive. The loan could easily be repaid in less than 10 years. Then it's all profit.

 

The only thing I find strange is that we borrow from a 3rd party with all the interest and costs involved. Why not just borrow from KP and keep the money in the combined businesses. Perhaps it's for Tax reasons or legal reasons though. I have no doubt that Susan knows what she is doing.

 

Worst case scenario is that it's delayed a year or so but I doubt it. I think it will proceed as planned

 

I think the right Winger issue is more to do with Brendans poor management than funding. He's had the money but chose to buy more defenders.

We know how that has turned out.

 

[K1FOX]

If we extend it we’re definitely not selling it out most weeks so what’s the point

[CosbehFox]

16 minutes ago, K1FOX said:

If we extend it we’re definitely not selling it out most weeks so what’s the point

Because it’s got very little to do with filling seats. It’s more to do with corporate facilities and events. 

[ozvaldo]

We’ll have new owners within the next 8-12 months, unless we go down. 
We’re being invaded by Americans.

[Fazzer 7]

Save ye money Top. 

[dnewty]

1 minute ago, ozvaldo said:

We’ll have new owners within the next 8-12 months, unless we go down. 
We’re being invaded by Americans.

Are you guessing or is this fact ?

[sacreblueits442]

9 hours ago, Alfie.meadsy said:

Expansion should of happened after we won the league. 

....the euphoria needed to have been measured, to see if we could sustain a big enough following to justify an expansion!!!

We know we can, and now seek to make it work, 

[Corky]

54 minutes ago, CosbehFox said:

Because it’s got very little to do with filling seats. It’s more to do with corporate facilities and events. 

Given new rules will require clubs to generate more of their own revenue this sort of thing is needed.

 

One bad start to a season shouldn't stop the club from trying to keep growing.

[Filbert_Ross]

13 hours ago, K1FOX said:

If we extend it we’re definitely not selling it out most weeks so what’s the point

If we were selling it out most weeks then the expansion wouldn't have been big enough. 

[Nalis]

Its not like we currently have a fortress atmosphere we are trying to protect. Get her built!

[SemperEadem]

Just now, Nalis said:

Its not like we currently have a fortress atmosphere we are trying to protect. Get her built!

Its only going to negatively impact it. Looks like a cruel blow to L1.

[Manley Farrington-Brown]

12 hours ago, dnewty said:

12 hours ago, ozvaldo said:

We’ll have new owners within the next 8-12 months, unless we go down. 
We’re being invaded by Americans.

Are you guessing or is this fact ?

Hmm, I wonder...

 

 

Edited 12 October 2022 by Manley Farrington-Brown

[Oldblueyes]

The whole concept of this expansion came 3 years too late. With that and the wait for planning permissio,  however this may have been a blessing in disguise. I too like some on here think that until our future of premier league sustainability  and the economic outlook looks better, then hold the plans for any ground increase for one year so we have a better vision for future. 

[Eskay]

Mentioned on here a couple of times but I know one of the architects leading this project. Not seen him in a while so got the latest from him.....there's a few things that I can't reveal but the key update is that the club has not instructed them to begin work or even indicated when they might. It's gone totally quiet and the firm is actually now prioritising projects at Palace and Leeds. 

 

A couple of things he said were that Top is an absolute gentleman. And the various directors are powerless....Whelan makes all of the decisions. 

[Fox in the North]

52 minutes ago, Eskay said:

Mentioned on here a couple of times but I know one of the architects leading this project. Not seen him in a while so got the latest from him.....there's a few things that I can't reveal but the key update is that the club has not instructed them to begin work or even indicated when they might. It's gone totally quiet and the firm is actually now prioritising projects at Palace and Leeds. 

 

A couple of things he said were that Top is an absolute gentleman. And the various directors are powerless....Whelan makes all of the decisions. 

I am surprised if they are prioritising Leeds/Palace. 
 

Leeds Utd haven’t even unveiled any plans yet. They still need to go through planning permission etc.

 

Palace still need to agree terms with local housing and the supermarket. Their current planning permissions has also expired so they have to go through the same process again.  
 

Both of those obviously still will take at least 2 years. Surely we are in the driving seat with current planning permission and it is just a case of arranging construction/insurance contracts for the build?