Stadium for Newport - NCFC & NRFC unite

Newport County natter & football chatter.
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Stan A. Einstein

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Re: Stadium for Newport - NCFC & NRFC unite

Postby Stan A. Einstein » February 9th, 2019, 5:50 pm

whoareya wrote:Covenants can be lifted upon appeal, especially older ones deemed unreasonable/irrelevant to modern times


The two most complicated areas of law are 'Equity and trusts' and the law of property.

In short, if the stadium is owned by a corporation or and individual, or rather the fee simple interest is owned in such a way they can do with it, subject to planning law etc, anything they please. That is the rule against perpetuity.

If the stadium is held in trust then the test would be whether the trust was still active.

To the best of my knowledge Rodney Parade is owned by the WRU. The WRU are a corporation. As such any 'covenant' is likely to be a wish from the original benefactor, and as such is probably nothing more than a hope.

I will of course be corrected by anybody with a more intimate knowledge of the ownership details.
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The NCFC Hippy

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Re: Stadium for Newport - NCFC & NRFC unite

Postby The NCFC Hippy » February 9th, 2019, 7:52 pm

Looks like we are getting some great info and ideas out of this post - I have already sounded out a contact in our equivalents FONR (friends of Newport rugby) -
Football is my first love but I’ve always had masses of time for the rugby and used to pop over a couple of times a year before regionalisation set in - always so proud that the club were so well respected the world over .

I want both the cities clubs using the cities stadium with other facilities on Board for all the towns folks to Utilise all week long - a genuine sporting and cultural hub -

The wru will help as they will fold the dragons one way or the other and like the rest of Wales - good riddance to regional rugby - it isn’t working - and has killed the game and passion in the towns across the nation.

Anyways - a may be a small start but it’s started - I’ll update - UTC
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jonescmj1

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Re: Stadium for Newport - NCFC & NRFC unite

Postby jonescmj1 » February 9th, 2019, 8:44 pm

The NCFC Hippy wrote:Looks like we are getting some great info and ideas out of this post - I have already sounded out a contact in our equivalents FONR (friends of Newport rugby) -
Football is my first love but I’ve always had masses of time for the rugby and used to pop over a couple of times a year before regionalisation set in - always so proud that the club were so well respected the world over .

I want both the cities clubs using the cities stadium with other facilities on Board for all the towns folks to Utilise all week long - a genuine sporting and cultural hub -

The wru will help as they will fold the dragons one way or the other and like the rest of Wales - good riddance to regional rugby - it isn’t working - and has killed the game and passion in the towns across the nation.

Anyways - a may be a small start but it’s started - I’ll update - UTC



I've posted this idea elsewhere and with my limited knowledge believe it to be workable:

The Council purchases the ground back off the WRU at a market rate, that includes the perpetuity of the covenant that is believed to exist, restricting the land to a sports venue.

Since the land is purchased at a market value there are two balance sheet transactions, an increase in assets (i.e. ownership of the ground) a reduction in cash, the monies paid to the WRU in exchange for the acquistion of the asset. This is a balance sheet neutral transaction, i.e. at no cost to the taxpayers of Newport.

The Council being a council will be able to borrow monies at vastly reduced rates compared to the Rugby and Football Clubs, the cost of this interest could justifiably be a component of a lease cost to the RFC and AFC, ie no cost to the Newport taxpayers.

The RFC and AFC could come to together under another Trust ( Working Title: The Newport Athletics Sporting Trust), the purposes of which would be: to negotiate a rolling lease (75 Years?) for the two teams with the council, to oversee any development of the ground by T.N.A.S.T because the lease is long, any assets created by the T.N.A.S.T, could be take to the p&l at the maximum allowable rate of depreciation, meaning the annual Profit and Loss Accounts could be minimally impacted, by the creation of any assets (facilities).

And because the ground was owned by the council, the lease was long, the T.N.A.S.T should be able to borrow the monies for any development at a low premium. The Rugby Trust and Football Trust would then be responsible for their respective codes administration. Clearly this is a high level strategic discussion that needs more detailed scrutiny and input.

Colin
Last edited by jonescmj1 on February 9th, 2019, 10:05 pm, edited 1 time in total.
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BertieB

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Re: Stadium for Newport - NCFC & NRFC unite

Postby BertieB » February 9th, 2019, 9:03 pm

After reading in the various papers about how Newport County's Middlesborough cuptie performance had boosted business's in the Area and uplifted business in the City of Newport , the various heads of business and council officials smiling and saying how wonderful Newport County had given the area and business 's such a boost .. I think it's about time the City of Newport and local money making outfits followed the example of the cities of Swansea and Cardiff by aiding Newport County AFC in helping the club to find a stadium similar to the two cities mentioned earlier --I've no doubt those,officials and councilors will be in attendance or close by when Manchester City come to town next Saturday evening--So Come on Newport City !!--Help Newport County to get somewhere decent to call home, worthy of our city team !!...............................Come on the Port !!.............Bob bassett
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The NCFC Hippy

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Re: Stadium for Newport - NCFC & NRFC unite

Postby The NCFC Hippy » February 10th, 2019, 6:52 pm

Hello Colin, seems like you’re a good man to have on board - I’ll direct message you if I get any progress.
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jonescmj1

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Re: Stadium for Newport - NCFC & NRFC unite

Postby jonescmj1 » February 11th, 2019, 11:23 am

:grin:
The NCFC Hippy wrote:Hello Colin, seems like you’re a good man to have on board - I’ll direct message you if I get any progress.
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jonescmj1

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Re: Stadium for Newport - NCFC & NRFC unite

Postby jonescmj1 » February 12th, 2019, 5:20 pm

jonescmj1 wrote::grin:
The NCFC Hippy wrote:Hello Colin, seems like you’re a good man to have on board - I’ll direct message you if I get any progress.


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