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