Stadium Latest.

[Gedee]

1 hour ago, dblair said:

Check your messages Gerald

I have done & responded friend...Thank you, to Yourself, Rev, & All Others for your Assistance

[Parcbara]

Throughout my life, my hopes with regard to anything involving Dundee Football Club have for the most part been dashed, with some fabulous exceptions though. I am hopeful again. If  this comes off, it will be magnificent. I love Dens, but it is finished,  if it is not upgraded . Given the choice, I would go for the new stadium .

[Reverend Lovejoy]

2 hours ago, Parcbara said:

Throughout my life, my hopes with regard to anything involving Dundee Football Club have for the most part been dashed, with some fabulous exceptions though. I am hopeful again. If  this comes off, it will be magnificent. I love Dens, but it is finished,  if it is not upgraded . Given the choice, I would go for the new stadium .

I think even those who don't want to move realise deep down that's it's for the best as Dens is on its knees. Fantastic old stadium but £700k per season and rising to maintain Dens is unsustainable moving forward. Nelms is suggesting that the repayment terms will be better than we currently shell out just on maintenance so it's a no brainer if we're to take his words at face value.

[Billy Campbell's Ghost]

Subjective and supportive article by Steve Finan in DCs today. He told me a while back he would be writing this and assured me, despite him being a DAB, that it would be supportive. Think he has done a fair job

[HK Blues]

9 hours ago, Reverend Lovejoy said:

I think even those who don't want to move realise deep down that's it's for the best as Dens is on its knees. Fantastic old stadium but £700k per season and rising to maintain Dens is unsustainable moving forward. Nelms is suggesting that the repayment terms will be better than we currently shell out just on maintenance so it's a no brainer if we're to take his words at face value.

Yep...If in was spending 50% of my wages on maintaining my house I'd be looking to flit as well! 

[Icedbun]

21 hours ago, Reverend Lovejoy said:

I think even those who don't want to move realise deep down that's it's for the best as Dens is on its knees. Fantastic old stadium but £700k per season and rising to maintain Dens is unsustainable moving forward. Nelms is suggesting that the repayment terms will be better than we currently shell out just on maintenance so it's a no brainer if we're to take his words at face value.

For a project that needs a reported £95m investment, interest rates up at close to 10%, better repayment terms doesn’t add up.

Article reads fine, but very little detail.

 

[Reverend Lovejoy]

14 minutes ago, Icedbun said:

For a project that needs a reported £95m investment, interest rates up at close to 10%, better repayment terms doesn’t add up.

Article reads fine, but very little detail.

 

Dundee Football Club won't be liable for £95m though. Prior to everything that's happened post 2020 the cost of new stadia was widely considered to be somewhere in the region of £1m per thousand seats, with inflation and everything that's happened I don't think it'd be unreasonable to suggest that a figure of £20-25m for a 12,500 seat stadium would now be closer to what's required. I did read an article in the Aberdeen papers regarding Aberdeen's stadium issues which suggested that Dundee were in a much better position and that our financial commitment to our development would be around £40m. I don't believe there were any direct quotes though and I haven't seen that figure mentioned anywhere else. I'd be concerned if there was in truth in that figure.

I'd imagine that the stadium mortgage is what we'll cover rather than the whole development but the length of the mortgage and the monthly/annual costs are still to be disclosed. Could be a long term mortgage, say 50yrs, at £400,000 per year for a £20m stadium cost. Obviously that's just nothing more than a stab in the dark and rough sums at this stage though. You can see that we can fairly easily reduce the £700,000 we currently shell out per year however.

 

[HK Blues]

15 hours ago, Icedbun said:

For a project that needs a reported £95m investment, interest rates up at close to 10%, better repayment terms doesn’t add up.

Article reads fine, but very little detail.

 

I'm out of touch with UK interest rates but are they really as high as 10%? On other forums I read folk talking about rates of under 5% for mortgages - would any loan 'we' take be double that?

[Billy Campbell's Ghost]

22 minutes ago, HK Blues said:

I'm out of touch with UK interest rates but are they really as high as 10%? On other forums I read folk talking about rates of under 5% for mortgages - would any loan 'we' take be double that?

Mortgage rates between 5-6% but like most one would shop around.

[HK Blues]

1 minute ago, Billy Campbell's Ghost said:

Mortgage rates between 5-6% but like most one would shop around.

That's nearer to what I'd have expected and a fair whack off the 10% figure mentioned.

[Icedbun]

1 hour ago, HK Blues said:

That's nearer to what I'd have expected and a fair whack off the 10% figure mentioned.

Not likely high street bank would be funding this. Look at organisations that they’ve already taken the loans for in dark blue holdings, they will want higher returns and charge a premium 

[Billy Campbell's Ghost]

4 hours ago, Icedbun said:

Not likely high street bank would be funding this. Look at organisations that they’ve already taken the loans for in dark blue holdings, they will want higher returns and charge a premium 

More likely funding from Venture Capitalists and Pensions Funds.