Consultation....

There's a shock.

Yea Man wrote:

A message has come into ATD towers from a distant friend:

Further information regarding the "windfall profits" issue on the HHP land.

There almost certainly won't be any, as there are others in the queue ahead of the club.

As part of the deal to purchase the freehold in 2011, Lombard have a secured charge from PAFC (Green Pilgrim as was) on the HHP land with regard to future profits.

It is a public document available from the Land Registry.

PCC have a similar legal charge.

This charge takes precedence over anything the Football Club may receive, if any profits are made on the development.

Feel free to add this to any debates on the topic.

That can't possibly be true because Brent confirmed on Saturday that the club would profit-share from the development and Postey reiterated that Brent said it.

I know who I would choose to trust

Brent has everyone tied up in knots - I am I wrong to think that the wheeler dealing that went on from the very start of his tenure meant he hasn't put any money in to the club?

Dick Trickle wrote:

Yea Man wrote:

A message has come into ATD towers from a distant friend:

Further information regarding the "windfall profits" issue on the HHP land.

There almost certainly won't be any, as there are others in the queue ahead of the club.

As part of the deal to purchase the freehold in 2011, Lombard have a secured charge from PAFC (Green Pilgrim as was) on the HHP land with regard to future profits.

It is a public document available from the Land Registry.

PCC have a similar legal charge.

This charge takes precedence over anything the Football Club may receive, if any profits are made on the development.

Feel free to add this to any debates on the topic.

That can't possibly be true because Brent confirmed on Saturday that the club would profit-share from the development and Postey reiterated that Brent said it.

I know who I would choose to trust

Graham Clark posted this on PASOTI yesterday, albeit in a less alarmist way.

The PCC charge relates to security for the 800k loan re the 'balloon payment', i.e Brent put up land he owns as security for the club. That loan has now been paid in full so the charge will fall away.

I, and most likely your 'distant friend', have no idea of the detail of the Lombard charge or what the precedence might be. However, PCC would have needed 'first charge' to be able to secure their loan and Lombard would have had to agree this. This would suggest the Lombard charge is not the most onerous charge in the world but who knows.

There are people who have jumped on the idea that PAFC are in line for a major windfall but as Brent and Hallet both said during the FF this is totally uncertain at this stage so hasn't been budgeted for. Whether PAFC profits from HHP any further to the £400k or so it received when it sold the land is missing the point as to why this has become an issue. There was a common reaction to the HHP proposals that Brent would be solely profiting from the development. This isn't true and remains untrue even in the event charges mean no profits arise i.e. no profits mean no profits for Brent not just no profits for PAFC.

so the ten million pound grandstand will never turn up.....

PatDunne wrote:

so the ten million pound grandstand will never turn up.....

........let alone a refurbishment

Yes, I know someone who has had a large charge on a couple of properties for a few years. Guess what those properties have been sold, and she has lost her money. The charge is worthless if the owner or seller go down certain routes.
Lombard may well have a piece of paper. So did Chamberlain. This is disinformation being chucked around from the PAFC owners to keep fans off their backs.

If we're on the subject of long held obligations regarding Home Park, HHP and the whole admin thing, let's talk about the loan notes held by the Mastpoint gang. They are still active I would imagine as I can't imagine the previous owners are the sort to pass up the possible return of a few million when big time tv money kicks in. Can't wait for that gem to break if Argyle ever get to the championship again. Listening to Brent's "debt free" status of PAFC, one might wonder what happened to those loan notes ?

Of course if Brent had lived up to his promise of transparency, we would have a lot less distrust. But he didn't.

Is the five million pound mortgage on the ground for the revamp a debt?

MAK wrote:

Dick Trickle wrote:

Yea Man wrote:

A message has come into ATD towers from a distant friend:

Further information regarding the "windfall profits" issue on the HHP land.

There almost certainly won't be any, as there are others in the queue ahead of the club.

As part of the deal to purchase the freehold in 2011, Lombard have a secured charge from PAFC (Green Pilgrim as was) on the HHP land with regard to future profits.

It is a public document available from the Land Registry.

PCC have a similar legal charge.

This charge takes precedence over anything the Football Club may receive, if any profits are made on the development.

Feel free to add this to any debates on the topic.

That can't possibly be true because Brent confirmed on Saturday that the club would profit-share from the development and Postey reiterated that Brent said it.

I know who I would choose to trust

Graham Clark posted this on PASOTI yesterday, albeit in a less alarmist way.

The PCC charge relates to security for the 800k loan re the 'balloon payment', i.e Brent put up land he owns as security for the club. That loan has now been paid in full so the charge will fall away.

I, and most likely your 'distant friend', have no idea of the detail of the Lombard charge or what the precedence might be. However, PCC would have needed 'first charge' to be able to secure their loan and Lombard would have had to agree this. This would suggest the Lombard charge is not the most onerous charge in the world but who knows.

There are people who have jumped on the idea that PAFC are in line for a major windfall but as Brent and Hallet both said during the FF this is totally uncertain at this stage so hasn't been budgeted for. Whether PAFC profits from HHP any further to the £400k or so it received when it sold the land is missing the point as to why this has become an issue. There was a common reaction to the HHP proposals that Brent would be solely profiting from the development. This isn't true and remains untrue even in the event charges mean no profits arise i.e. no profits mean no profits for Brent not just no profits for PAFC.

Well do you know what would clear up any confusion?

Transfuckingparency.

The sort Brent promised all those years ago and has since delivered the polar opposite.

It was clear during the fans forum that Brent was very uneasy with the subject. It was obvious he was very uncomfortable with being asked to clarify specific terms. It would now appear there were some quite significant omissions in his bumbling reply.

If I were a betting man, I'd edge towards Hallett being instrumental in Jones departure. The Commercial side of the club is Conference level, while the marketing of the club is non-existent. Hallett has at least put his hand in his pocket, and he'll want to see progress.

Czarcasm wrote:

If I were a betting man, I'd edge towards Hallett being instrumental in Jones departure. The Commercial side of the club is Conference level, while the marketing of the club is non-existent.

Be careful for what is wished for. I bet the pasoti marketing team have targeted their low cunning toward the Hallett contingent.
I suspect your hope in Hallett is rather unfounded. He is, shall we say, rather off piste, but we shall see.

Czarcasm wrote:

If I were a betting man, I'd edge towards Hallett being instrumental in Jones departure. The Commercial side of the club is Conference level, while the marketing of the club is non-existent. Hallett has at least put his hand in his pocket, and he'll want to see progress.

........and the 2nd and 3rd removal will be the Flying Pig and the Milton Keynes Lothario from the Directors box the minute Hallett takes over. His chauffeuring days are numbered and the Bearded wonder will have to be happy with Mrs Purse alone

Czarcasm wrote:

If I were a betting man, I'd edge towards Hallett being instrumental in Jones departure. The Commercial side of the club is Conference level, while the marketing of the club is non-existent. Hallett has at least put his hand in his pocket, and he'll want to see progress.

I'm with you on that, the marketing of the club is tin pot at best, not sure why Hallett gets the same bad press as Brent, I'm assuming just by association, however he didn't get his shillings by being Mr Nice Guy and I wouldn't be at all surprised to see a new owner by the end of the season particularly if we've a sniff of promotion.

So, not just us with stadium plans not quite happening!
[You must be registered and logged in to see this link.]

[You must be registered and logged in to see this link.]

Under construction for the past four years!

What hope is there for Home Park if he cannot even finish a website?

seadog wrote:

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Under construction for the past four years!

What hope is there for Home Park if he cannot even finish a website?

Not only that but just WHY is the registered address Home Park.....he claims he spends only 4 hours a week here so for what possible reason would it be....?? Answers on a postcard

Whats the ongoing crack with this then.....?? Are we in some consultation period still or what....?? Has a planning application been submitted ?? As usual Opaque Jimmy divulges nothing and anything he does is through gritted teeth in a temper tantrum.....Has Hallett seen through the shyster after all the additional Brent crap has been added ??
Time marches on as always...

All I can say, he is using the back door to get at other stake holders agreements which I do not agree with..

Tgwu wrote:

All I can say, he is using the back door to get at other stake holders agreements which I do not agree with..

Are you saying that he likes to enter from the rear Big T?

You know the old saying divide and conquer

harvetheslayer wrote:

seadog wrote:

[You must be registered and logged in to see this link.]

Under construction for the past four years!

What hope is there for Home Park if he cannot even finish a website?

Not only that but just WHY is the registered address Home Park.....he claims he spends only 4 hours a week here so for what possible reason would it be....??    Answers on a postcard

Most of his other business has address at Home Park

Tgwu wrote:

harvetheslayer wrote:

seadog wrote:

[You must be registered and logged in to see this link.]

Under construction for the past four years!

What hope is there for Home Park if he cannot even finish a website?

Not only that but just WHY is the registered address Home Park.....he claims he spends only 4 hours a week here so for what possible reason would it be....??    Answers on a postcard

Most of his other business has address at Home Park

But why is the question.....!! Probably as the guy is potless and doesnt have the finance to rent a registered address

The FOCP are extremely quiet and are being got at. The council feel this is their best and only chance to get half of what they wanted. Torbay stood up to him and told him to do one. Can't see this particular hue of council doing the same.
Apart from the park considerations, basically Brent is shafting the club by finishing "his deal" without providing the understood "free" new grandstand that was supposedly part of the whole deal. In  fact he's even lumbered the club with a 4 or 5million debt for a make over and hospitality suite that will play second fiddle to HIS hotel that will grab the lion's share of the corporate monies, that being accomodation and maybe even catering, who knows ? If the hotel succeeds and isn't turned into parkside apartments, he'll be living off the club well after he's long gone from the boardroom. Classic classic asset strip.
Still, not to worry, you've got Webb and Newell looking out for the interests of the club from a fan's perspective.

Not a truer word spoken