Thought I’d start this a new topic to satisfy the forum police!
Further to everything that has been written there is a massive issue from this deal which may be overlooked in the euphoria of the club finally having working capital and paying off (quite rightly) its debts, and that is…
The future value of the clubs assets and the book value of the same (i.e. Wincham Park) has just been massively marked down!
The logic for those who think I’m on another planet is that far from being told that we were owning a valuable slug of land in the middle of a housing development with the possible spin offs that would bring (increase footfall, social club revenue etc) we are now potentially going to own an island of land in an industrial site!
The connotations of this are quite simple the future value of any sale of Wincham Park has been halved and the possible future purchasers of the same has been narrowed to those that would wish their business to be next to or influenced by a chemical plant. I have no idea of actual numbers but conservatively it must be hundreds of thousands of pounds if not a million pound.
David at Thor is one of the most impressive people I have met and he’s done a fantastic bit of business for Thor here unfortunately and only IMHO it has cost us a small fortune!