Swindon Stadium

[1 valve 558]

Isn't it the case that GI as a business buy and run stadiums until they have the opportunity of selling the land the stadium is situated on for housing or similar building development. 
During the intervening years they charge rent to users i.e. speedway/ Greyhound racing / football clubs and in some cases even play a part in promoting a particular sport. This latter involvement provides some sort of credence to them being interested in finding a new stadium where the displaced sport(s) can move to.
But of course, this never happens because when condensed down, GI business plan is to buy sites that in time will be ripe for development - Period.
Put simply, once GI get hold of a stadium, the closure clock has started to tick.

[Ray Stadia 1,071]

2 hours ago, 1 valve said:

Isn't it the case that GI as a business buy and run stadiums until they have the opportunity of selling the land the stadium is situated on for housing or similar building development. 
During the intervening years they charge rent to users i.e. speedway/ Greyhound racing / football clubs and in some cases even play a part in promoting a particular sport. This latter involvement provides some sort of credence to them being interested in finding a new stadium where the displaced sport(s) can move to.
But of course, this never happens because when condensed down, GI business plan is to buy sites that in time will be ripe for development - Period.
Put simply, once GI get hold of a stadium, the closure clock has started to tick.

I think the 'closure clock' starts to tick for any stadium, unless it is in an area where there is absolutely no feasible chance of property development or industrial development. In the main, football and rugby stadiums seem safer. 

[arnieg 3,643]

2 minutes ago, Ray Stadia said:

I think the 'closure clock' starts to tick for any stadium, unless it is in an area where there is absolutely no feasible chance of property development or industrial development. In the main, football and rugby stadiums seem safer. 

I think the wide boys are now moving in on football and rugby stadia. Show up as 'knights in shining armour', separate the ground ownership from the operating company. Use the club to launder money for a few years, run it into the ground, declare insolvency, sell ground for property development.

Bury FC and now Worcester RFC spring to mind, but there will be several others at risk 

[skydog 156]

On 10/12/2022 at 11:16 AM, 1 valve said:

Isn't it the case that GI as a business buy and run stadiums until they have the opportunity of selling the land the stadium is situated on for housing or similar building development. 
During the intervening years they charge rent to users i.e. speedway/ Greyhound racing / football clubs and in some cases even play a part in promoting a particular sport. This latter involvement provides some sort of credence to them being interested in finding a new stadium where the displaced sport(s) can move to.
But of course, this never happens because when condensed down, GI business plan is to buy sites that in time will be ripe for development - Period.
Put simply, once GI get hold of a stadium, the closure clock has started to tick.

I would have said you were right, except... they never owned the land that Reading stood on. I have never worked out what they gained when it closed, apart from cutting their losses on a business/lease they maybe shouldnt have ever bought!

Considering the council wanted it gone, why all the GI BS about a new stadium? All they actually had to say was "oh dear the council wont extend the lease any more, we'll be off then"

And dont they actually run the greyhound racing, rather than someone else pay them rent to do it? That was how I always understood it.

[steve roberts 9,246]

4 hours ago, skydog said:

I would have said you were right, except... they never owned the land that Reading stood on. I have never worked out what they gained when it closed, apart from cutting their losses on a business/lease they maybe shouldnt have ever bought!

Considering the council wanted it gone, why all the GI BS about a new stadium? All they actually had to say was "oh dear the council wont extend the lease any more, we'll be off then"

And dont they actually run the greyhound racing, rather than someone else pay them rent to do it? That was how I always understood it.

Didn't the then promotion father and daughter (Dore & Bliss) "re-negotiate" the lease thereby substancially reducing Reading's tenure much to Reg Fearman's dismay?

[racers and royals 8,728]

45 minutes ago, steve roberts said:

Didn't the then promotion father and daughter (Dore & Bliss) "re-negotiate" the lease thereby substancially reducing Reading's tenure much to Reg Fearman's dismay?

Pretty sure it was the council "re-negotiating " the lease in lieu of planning consent not followed- eg landscaping etc etc

[skydog 156]

4 hours ago, steve roberts said:

Didn't the then promotion father and daughter (Dore & Bliss) "re-negotiate" the lease thereby substancially reducing Reading's tenure much to Reg Fearman's dismay?

Yes but that still doesn't explain what GI gained from the closure

[racers and royals 8,728]

9 hours ago, skydog said:

Yes but that still doesn't explain what GI gained from the closure

Cut and run i would think- place was falling down. No BAGS money at Reading either.

[Toady 231]

If anyone’s interested https://www.swindonadvertiser.co.uk/news/23825874.abbey-stadium-future-swindon-greyhound-venue-unknown/

[JessicaJones 15]

Clarke Osbourne reveals why Swindon Speedway had to leave stadium | Swindon Advertiser

 

 

[JessicaJones 15]

Abbey Stadium: New pictures show latest work on Swindon stadium | Swindon Advertiser

[steve roberts 9,246]

1 hour ago, JessicaJones said:

Clarke Osbourne reveals why Swindon Speedway had to leave stadium | Swindon Advertiser

 

 

He can quote whatever rhetoric he feels appropriate but still doesn't hide the fact the good folk of Swindon were told a pack of lies for a number of years now with false promises.

[steve roberts 9,246]

1 hour ago, JessicaJones said:

Abbey Stadium: New pictures show latest work on Swindon stadium | Swindon Advertiser

Ditto.

[orion 7,615]

1 hour ago, steve roberts said:

He can quote whatever rhetoric he feels appropriate but still doesn't hide the fact the good folk of Swindon were told a pack of lies for a number of years now with false promises.

Not sure what he's on about . Speedway only runs one a week on a Thursday as a rule between March and Oct .. So easy to fit in and any rent money  from the speedway on top of the Greyhound money is a bonus and better than nothing , 

From the speedway point of view a club a  of Swindon support have a better chance than most of breaking even . The bottom line is Clark has stopped Speedway so he can build houses just like he always wanted to 

[orion 7,615]

1 hour ago, steve roberts said:

Ditto.

He said: “You can see at the top of the pictures the new grandstand being put up opposite the old one. And the arches will be the pits for the speedway teams.    The tory bloke has idea has he ?

“I’m very pleased to see the progress that’s being made – and I think it was a very good decision by the council to give planning permission that insisted the stadium was rebuilt before more houses can be built nearby.”    why ? what good has it done anyone  If Speedway is not going to take place anymore  and Greyhounds meeting don't have anyone watch it anymore what was the point of forcing anyone to build it .

 

 

Edited October 24, 2023 by orion