So what's going on at Plymouth?

slappy · Post by **slappy** » Tue Oct 18, 2011 8:44 pm

http&#58//www&#46bbc&#46co&#46uk/news/u ... n-15354187
Plymouth City Council will pay £1.6m for Home Park and rent it back to the club for £135,000 a year.

The council deal means Argyle would have an option to buy back the ground every five years for a sum equal to 12 times the then annual rent.

The rent would rise by 150% if the club reached the Championship and 300% if it reached the Premier League.

The deal also removes covenants preventing non-football development around the ground.

Council leader Vivien Pengelly called it a &quothard-headed commercial deal&quot.
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So who owns the area around the ground, suddenly without covenants?

[edit] Plymouth, not Pompey [/edit]

Peterorange · Post by **Peterorange** » Tue Oct 18, 2011 10:00 pm

Pompey?!

You had me interested up until I clicked on the title...always had a soft spot for Portsmouth as my mum lived there.

Kernow Yellow · Post by **Kernow Yellow** » Wed Oct 19, 2011 12:53 pm

Dunno what it all means, but they seem quite pleased about it round these parts.

I guess it's generally a good thing if football grounds are owned by their local authority rather than speculative businessmen. But if Home Park, with its city centre(ish) location and 18,000 capacity, with 4 sides in place and two filled-in corners, is worth £1.6m, why did Merry et al ever agree a price tag of 7.5 times that for the Kasstad?

Steppers · Post by **Steppers** » Wed Oct 19, 2011 1:23 pm

I think it is possibly to help the development of the one un developed side.

They have just built/building a massive sports/swimming devlopement nearly touching one of the stands which would have made much more sense to build into the old stand instead.

Maybe they have a 2nd stage to that development which was previosuly blocked/prevented from a joint development.

Having said that there attendances have fell off a cliff so they dont need the space.

As above if the council are involved then at least it should not be to the determent of the club and I think they got a 30 year lease in the deal.

(btw my 2nd club as the wife is from Saltash and it is the inlaws team)