Belle Vue National Stadium

[ouch 1,192]

 

No not at all.

I actually think that point 3.9 in todays MCC report is probably accurate as to the situation.

 

" In July 2016 BV Arena Ltd submitted a claim against the City Council under

the commercial agreements for their alleged losses purported to be due to the

failure of the track. They did not pursue a claim against the contractor under

the collateral warranty. Discussions were instigated by the City Council with

ISG to resolve all issues in relation to the works and a confidential settlement

is still being negotiated with ISG and the liquidators of the Belle Vue Group of

Companies which is subject of an offer to the liquidator. "

Ok.

MCC withheld it but it's not in their account.

ISG don't have it as it's still being secrectly discussed.

Belle Vue don't have.

So where is it?

[Rob B 1,257]

 

 

 

 

How can any promotion hope to be able to pay that sort of rent? it's suicidal.

Going to need 1000 thro' the gate at £18 for 20 meetings just to pay the rent.

 

Its not just speedway though, that's rent for the stadium, they can use the stadium 7 days a week for other activities if they want, already a local American Football team is renting the pitch and other locals clubs use the pitches too, they need to make full use of the suite facilities too

[ouch 1,192]

With regards to the MCC report a scrutiny process will take place with answers to the questions posed by the report being dealt with in May.

[Hamish McRaker 601]

Looks like MCC went into arse-covering mode from the moment the "missing" 500k was discovered. BV Ltd's fate was pretty much sealed from then onward.

How convenient, that the 696k withheld from payment from MCC to ISG equals the amount that BV's advisers claim was lost due to the track & stadium shortcomings!

How much of this will actually be recovered by BV Ltd's liquidators? And out of that, how much will go into the liquidators pockets for their services? Quite a bit! They're the only winners out of this sorry tale.

 

Seems like DG&CM just got out of their depth, then got shafted by Rice & Southwell, then by MCC. But probably not without reason as they decided to protect their own backsides first. The report says that loud and clear I think.

[Guest]

It sounds like Rice and Southwell were wise in pulling out their planned investment. Not sure why it took DG and CM months to inform the council of this news though, or not to inform MCC about the EIS.

 

I do feel for DG and CM though. Clearly out of their depth but passionate about the Aces.

[uk_martin 1,606]

 

No not at all.

I actually think that point 3.9 in todays MCC report is probably accurate as to the situation.

 

" In July 2016 BV Arena Ltd submitted a claim against the City Council under

the commercial agreements for their alleged losses purported to be due to the

failure of the track. They did not pursue a claim against the contractor under

the collateral warranty. Discussions were instigated by the City Council with

ISG to resolve all issues in relation to the works and a confidential settlement

is still being negotiated with ISG and the liquidators of the Belle Vue Group of

Companies which is subject of an offer to the liquidator. "

 

By all means BV could submit a claim, but that's not to say that they are in the right nor that they will win the claim and receive compensation.

 

MCC could well point out that BV were knowlegeable of the fact that the materials being used on the 3rd & 4th bends were "different", and they did not inform MCC of this fact. In other words, BV took the risk and on their heads be it.

Have I read that rent figure correctly? £350k pa?

 

Now you can see where some Belle Vue fans think of speedway as a £10 sport. £350K split over roughly 35 meetings (NL included) is £10,000 per meeting. Assuming an average crowd of 1,000 per meeting (NL included) and bingo - £10 per person. But as has been said, that's just for the rent.

 

No wonder MCC have conceided that the annual rent is going to be under review this year. Even they will see that there is no hope of any business model being able to afford £350,000.

 

And BIG thanks to the Council Tax payers of Manchester for stumping up the huge losses in the City's finances, with the probable write-off's of the debts not to mention the costs of providing additionial seating for extra non-existent fans who MCC have been hoodwinked into believing will turn up once the extra seating is fitted.

[Grand Central 2,654]

Interesting to watch the Executive Committee meeting this morning on their webcast.

 

Whole thing lasted just a few minutes on this item.

Richard Leese ... Called this a salvage job; where almost all problems were down to the previous franchisees who let MCC down badly (a brief throwaway that partly the contractors were at fault). The new franchisees he saw as far better placed to succeed.

Eddie Smith ... Confirmed that the report would go before a scrutiny committee in May.

The only councillor to speak ... Asked for more oversight of the new franchisee as the problems of last year could have been mitigated if more was known at the time.

Sir Howard Bernstein agreed that the new people were credible and much better placed to make a go of things this year.

 

One specific point that I had not fully picked up on in the report was made very clear by Sir Howard.

That is that Bellvue 2017 ONLY have the Speedway franchise for the NSS.

They have NOT been given a lease on the Stadium as a whole.

MCC are to work with them this year on just working out whether a business plan can be made viable for them GETTING the lease in 12 months.

 

All very interesting

Edited March 8, 2017 by Grand Central

[Rob B 1,257]

Interesting to watch the Executive Committee meeting this morning on their webcast.

 

Whole thing lasted just a few minutes on this item.

Richard Leese ... Called this a salvage job; where almost all problems were down to the previous franchisees who let MCC down badly (a brief throwaway that partly the contractors were at fault). The new franchisees he saw as far better placed to succeed.

Eddie Smith ... Confirmed that the report would go before a scrutiny committee in May.

The only councillor to speak ... Asked for more oversight of the new franchisee as the problems of last year could have been mitigated if more was known at the time.

Sir Howard Bernstein agreed that the new people were credible and much better placed to make a go of things this year.

 

One specific point that I had not fully picked up on in the report was made very clear by Sir Howard.

That is that Bellvue 2017 ONLY have the Speedway franchise for the NSS.

They have NOT been given a lease on the Stadium as a whole.

MCC are to work with them this year on just working out whether a business plan can be made viable for them GETTING the lease in 12 months.

 

All very interesting

Are you sure that was said? My understanding is they are running the stadium too, 5)/5/ why they brought Adrian Smith in to run it as CEO, Mark Lemon is in charge of the speedway club.

[Grand Central 2,654]

Are you sure that was said? My understanding is they are running the stadium too, 5)/5/ why they brought Adrian Smith in to run it as CEO, Mark Lemon is in charge of the speedway club.

 

Absolutely certain.

If you visit the MCC website the webcast is avaliable, it is point 16 on the agenda about three-quarters of the way through

[Daniel Smith 5,666]

Are you sure that was said? My understanding is they are running the stadium too, 5)/5/ why they brought Adrian Smith in to run it as CEO, Mark Lemon is in charge of the speedway club.

 

It makes business sense for both parties.

The way I read it is that Adrian will run the stadium but everything taken on will have to be approved by MCC.

After 12 months of all is run smoothly MCC will agree terms to run the whole site.

 

It offers protection to the new owners as to whether ventures outside of Speedway are viable.

For the MCC it gives them 12 months of full visibility of the day to day running.

 

The concern will be in 12 months if these new owners can't get a business plan together and run up huge debts the MCC will have to review the position of the stadium i.e. whether it's cost effective in the long term.

 

The MCC and the new owners are not concerned about loses, it's expected in year 1-2.

As long as all bills are paid and a % return is made from 'outside sources' the MCC will approve the new owners to move forward alone.

[Grand Central 2,654]

 

It makes business sense for both parties.

The way I read it is that Adrian will run the stadium but everything taken on will have to be approved by MCC.

After 12 months of all is run smoothly MCC will agree terms to run the whole site.

 

It offers protection to the new owners as to whether ventures outside of Speedway are viable.

For the MCC it gives them 12 months of full visibility of the day to day running.

 

The concern will be in 12 months if these new owners can't get a business plan together and run up huge debts the MCC will have to review the position of the stadium i.e. whether it's cost effective in the long term.

 

The MCC and the new owners are not concerned about loses, it's expected in year 1-2.

As long as all bills are paid and a % return is made from 'outside sources' the MCC will approve the new owners to move forward alone.

 

 

All eminently sensible.

And clearly that is what the CEO of MCC was making clear at the Council meeting today.

 

It is just little shame that is not the impression that many Aces supporters who have been following this story had got.

They thought they had been told something just a little different.

 

Lets make 2017 the year of transparency, eh?

Edited March 8, 2017 by Grand Central

[Hamish McRaker 601]

Have never been convinced that calling the place NCC is the right thing, it throws way too much emphasis onto speedway activities as the income generator. Far too ambitious, however it came about together with the whopping big rent which went with it.

Did it have to be built and designated in such a way? It must have placed ridiculous pressure on DG & CM to have had the whole shebang on their shoulders, or did they bring that upon themselves?

[colin wood 249]

NCC??

[ch958 2,395]

i think from now support the venture is the answer - keep the crowds up

[Hamish McRaker 601]

NCC??

Fiddlesticks. Mixed it up with MCC (not that lot at Lords)