Council are terminating leases in market and most traders are giving up stalls as new developers are doubling or tripling rents as council have giving them the market and made them new landlords read somewhere supposed to be 80 flats and offices going in as well so if council are part funding this they will be expecting a serious profit return quite quickly if successful and I’m sure will have one eye on taking over if developer defaults don’t quite see them viewing development of RP in the same light

In Sheffield, they built a new indoor market, moving from on end of the city centre to the other and lost all of the character.
Newport market was a highlight of being dragged into town as a kid, I hope it doesn't go the same way.

Certainly going to lose a few characters that have been there for years market stalls with high street rents

I know I should join the meeting but it is difficult with working and the time zones .
Is there not a way we could get a loan to :
1) purchase All the land from the WRU
2) then sell the “ non stadium part “ to any private developer —-assuming the local authorities play ball and allow the non stadium part for either commercial or private development
3) Lease the ground to Dragons
4) lease the ground to Newport RFC
5) lease the ground to the Welsh Ladies team.
6) Actively market the stadium for other use to draw in revenue .—encourage company conference days, evening events , company meetings and dinners , Christmas functions, wine and beer weekend festivals in the summer with companies erecting tents and live music, food festivals etc etc

If the WRU would sell for £3 million, we have an absolute bargain —-I know !!! but where do we get the cash .?????
Surely the sale of the north end ( I think that what its called ) would recover a large % of this £3 m

Is there someone at your meeting who has the necessary background to put a financial project package together to see if this makes sense.?

I have steered clear of the New Stadium Discussion Group. However, some of the points raised above are pitfalls we should be avoiding. I hope we might one day be in charge of our own destiny at Rodney Parade, but to then continue the sharing with three other teams would be a backward step. The occasional Welsh Ladies football fixture is more acceptable than fortnightly (and sometimes weekly) rugby fixtures.

The WRU paid £3.75m for RP and knew they had it on the cheap as the directors of the Dragons never got a land valuation.

Willthiswork wrote:The WRU paid £3.75m for RP and knew they had it on the cheap as the directors of the Dragons never got a land valuation.

I wish we had started this sooner...

That's peanuts.

It is peanuts, but isn't it the case that this price was only available to the WRU and the sellers would have wanted anyone else to pay back debts of several times that secured against the ground?

George Street-Bridge wrote:It is peanuts, but isn't it the case that this price was only available to the WRU and the sellers would have wanted anyone else to pay back debts of several times that secured against the ground?

I believe there was about £4m of other loans to the directors that they wrote off following the deal.

George Street-Bridge wrote:It is peanuts, but isn't it the case that this price was only available to the WRU and the sellers would have wanted anyone else to pay back debts of several times that secured against the ground?

I can’t remember the details but it’s extremely shady. For all we’re the struggling party it was Newport RFC that got completely screwed over in that deal

halfmoon wrote:

George Street-Bridge wrote:It is peanuts, but isn't it the case that this price was only available to the WRU and the sellers would have wanted anyone else to pay back debts of several times that secured against the ground?

I can’t remember the details but it’s extremely shady. For all we’re the struggling party it was Newport RFC that got completely screwed over in that deal

Absolutely, the ground wasn't made available for ourselves or anybody else to buy at the time. It looked like a right stitch up.

I have wondered if a sale on those terms would have ruled out the council bidding. At very least the due diligence with public money involved would have been very complicated.

Willthiswork wrote:

George Street-Bridge wrote:It is peanuts, but isn't it the case that this price was only available to the WRU and the sellers would have wanted anyone else to pay back debts of several times that secured against the ground?

I believe there was about £4m of other loans to the directors that they wrote off following the deal.

Yes.

The headline figure is always quoted as £3.75m, but in reality something in the region of £10m would have been needed by anyone other than the WRU.

NearlyDead wrote:

Willthiswork wrote:

George Street-Bridge wrote:It is peanuts, but isn't it the case that this price was only available to the WRU and the sellers would have wanted anyone else to pay back debts of several times that secured against the ground?

I believe there was about £4m of other loans to the directors that they wrote off following the deal.

Yes.

The headline figure is always quoted as £3.75m, but in reality something in the region of £10m would have been needed by anyone other than the WRU.

Something stinks about the way the directors would only write off their debts if the WRU purchased RP.

Willthiswork wrote:

NearlyDead wrote:

Willthiswork wrote:

George Street-Bridge wrote:It is peanuts, but isn't it the case that this price was only available to the WRU and the sellers would have wanted anyone else to pay back debts of several times that secured against the ground?

I believe there was about £4m of other loans to the directors that they wrote off following the deal.

Yes.

The headline figure is always quoted as £3.75m, but in reality something in the region of £10m would have been needed by anyone other than the WRU.

Something stinks about the way the directors would only write off their debts if the WRU purchased RP.

The whole thing stinks if you are a Newport RFC fan.