Courier Exclusive

[Prince Buster]

EXCLUSIVE: Long lease could prove stumbling block for Dundee FC stadium move

The article then reads as total speculation by Roache with no quotes whatsoever. But at least there's a picture of John Bennett.

https://www.thecourier.co.uk/fp/news/local/dundee/247889/exclusive-long-lease-prove-stumbling-block-dundee-fc-stadium-move/

 

 

[Boba Fett]

Tell us something we don't know! 

Credit to John Bennett though. He's been discussed on these forums for years as the Dens landlord but I don't think he gets the credit he deserves for bailing us out and giving us more than a fighting chance of recovering.

I'm sure the club will have it covered and a plan in place to make sure he's recompensed. 

[Guest]

I sometimes wonder about the inability of our local journalists to think things through before going to print.

Why would a long lease be a stumbling block?

The stumbling block is what happens when the Americans stop paying the extortionate rental being charged by Bennett. Whats he going to do kick us out of Dens? Good because we then have a new stadium to move into.

Dundee hold all the aces here because the lease is watertight unless we stop paying the rental. Then it depends on what is in the agreement if we default. Maybe DFCSS who agreed this lease could let us know? 

[Guest]

Apologies for a second post but ffs:-

"Bennett initially took no stadium rent off Dundee while the club stabilised post-administration and the current level of repayment through his firm Sandeman Properties is understood to be well below the market rate". - What is the market rate for rental on a football stadium?

"He has always maintained a benevolent stance as regards the use of Dens and is even believed to be willing to sell the stadium back to Keyes and Nelms at a price below the area’s land value." - How about accepting the same price you paid for it Bennett minus the extortionate rental we have already paid?

[dblair]

Interesting situation. You wonder if it would actually be easier to walk away and allow Bennet to do as he pleases with it if/when a new stadium is ready? Either that or buy it back before what? Selling it on for development? Not sure what kind of profit would be involved in that to be honest. 

[chomp my root]

24 minutes ago, Rivers Cuomo said:

Apologies for a second post but ffs:-

"Bennett initially took no stadium rent off Dundee while the club stabilised post-administration and the current level of repayment through his firm Sandeman Properties is understood to be well below the market rate". - What is the market rate for rental on a football stadium?

"He has always maintained a benevolent stance as regards the use of Dens and is even believed to be willing to sell the stadium back to Keyes and Nelms at a price below the area’s land value." - How about accepting the same price you paid for it Bennett minus the extortionate rental we have already paid?

What is this extortionate rent ? I heard it was pretty reasonable at the start but ramping up towards the end of the agreed time with the option to buy the ground back at what he paid for it plus the value of the loans that he put into help us. That doesn't sound unreasonable to me but I can't vouch for it, just what I was told so if you've heard something different I'm all ears.

[md20/20]

1 minute ago, chomp my root said:

What is this extortionate rent ? I heard it was pretty reasonable at the start but ramping up towards the end of the agreed time with the option to buy the ground back at what he paid for it plus the value of the loans that he put into help us. That doesn't sound unreasonable to me but I can't vouch for it, just what I was told so if you've heard something different I'm all ears.

I heard that was the orginal deal but it was then renegotiated by the custodians of the club which resulted in a less than favourable deal for Dundee.

[Guest]

I've already stated on this forum the rental is near 250k a year. You are right the start of the agreement was around 40k a year however it "ramped" up when DFCSS decided to renegotiate.

Maybe someone from DFCSS can clarify?

[chomp my root]

1 minute ago, Rivers Cuomo said:

I've already stated on this forum the rental is near 250k a year. You are right the start of the agreement was around 40k a year however it "ramped" up when DFCSS decided to renegotiate.

Maybe someone from DFCSS can clarify?

I'd be very surprised if it was as high as 250K a year, it would be a no brainer for FPS to spend 3 years rent to buy the ground back. Saying that, this might still be part of their plans especially if the ground is worth more than what we can buy it for. Its still early days and FPS like to keep their cards close to their chest.

[JoeCovenant]

I dunno why... but I doubt VERY much that he would let the stadium be bought back for only £750k.

[chomp my root]

5 minutes ago, JoeCovenant said:

I dunno why... but I doubt VERY much that he would let the stadium be bought back for only £750k.

The figure doing the rounds was about 800K. Whether its a 'fact' is a different matter right enough.

[Reverend Lovejoy]

35 minutes ago, JoeCovenant said:

I dunno why... but I doubt VERY much that he would let the stadium be bought back for only £750k.

I'm led to believe that Bennet's son has been negotiating with a third party, closely associated with the club, for the sale/buy-back of the ground but a deal has been hard to broker and talks are at a standstill.