New Stadium Cancelled ?

[Bender]

Taken from elsewhere:Lads on Rattle and RAWK saying its offically cancelled since 6th of November, laing rourke and suppliers have been told, no surprize if true, anybody hear anything?

[nebbers]

ummm, no.

It's probably still on hold so no more fees are spent. Laing etc have probably been told to stand down.

[Vermilion]

They do this Now!!!! Should have been done long ago i'd have thought, as there was no way it was going to get started any time soon.

[cream]

Don't think anybody is bothered, I don't think anybody actually believed we were getting a new stadium.

[Dhav]

Hmm. I expected nothing less from the Americans than another broken promise. My question is, how much of the club's (ie our) money have these two ****wits spent on the original HKS design, and the AFL and HKS re-designs? £10m? £20m? £30m? All for the stadium project to become abortive?

These two are a cancer which will destroy our club if we do not get rid of them asap.

I have always maintained that banks, even in this climate, will lend for a project of this size if it is a viable project and they have confidence in the borrowers. I believe the club and stadium is viable, but the owners are not, thanks in large part to the debt they have saddled us with. I believe different owners who did not dump £350m worth of debt on us would have been better placed to get the stadium project off the ground.

[Lee]

It's gonna be absolute ****in yonks before we even have a spade in the ground. We need a new stadium built within the next two or three years - but unless something *very* big happens, then I can see it being nearer 2020 than 2010

[TheElephantMan]

I heard that the Yanks were out and DIC were back in, this sort of coincides with that.

[vlahka]

I'm not sure how it all works but in my little brain I'm thinking now since they actually plan to sell off to other investors/potential owners that the previous plans need to be cancelled so whoever is coming in can put their name onto the funding and possibly alter the plans slightly. I'm thinking this is like a temp rewind to adjust to the changes.

[cream]

I'm not sure how it all works but in my little brain I'm thinking now since they actually plan to sell off to other investors/potential owners that the previous plans need to be cancelled so whoever is coming in can put their name onto the funding and possibly alter the plans slightly. I'm thinking this is like a temp rewind to adjust to the changes.

Wouldn't make a blind bit of difference, the yanks have been trying to sell the club with a pretend new stadium to justify a high price and have been told to **** off by any new possible investors. It hasn't worked, they haven't found anybody stupid and rich enough to fall for their stupid little plan.

This news coming days after Hicks spouting on about lining up 'the biggest ever sponsorship deal'

[Havors]

Purslow said massive investment in the next 6 months.... maybe the new investor doesnt like the stadium design? maybe the yanks are full of **** and were never going to build it? maybe this is just another stupid rumour? maybe Ryan Babel will become a good player? maybe fabio the chippendale will cut his golden locks?

Until anything is announced officially its all just bollocks.

[Tee]

We will never see a new stadium as long as these jokers own the club, of that I am convinced.

[cream]

How long before groundshare rears it's ugly head once again.

[G]

Others speculate that this could merely have been the day the original contract for the building,at original building rates,expired which would be viewed as a good thing in theirs and my opinion as it means we are now free to tender again at todays buildings costs(much lower) and for todays materials costs(much lower).

The opinion I get this from is Real Reds on TLW:-

http://www.liverpoolway.co.uk/forum/ff-football-forum/85424-stadium-cancelled.html

Following on from what Johnny said, when they first signed everyone up to build the stadium the agreed costs would have been way higher than they could get it for now.

Simplifying it all, if they went to Laing in early 2008 with the plans and said "How much?" they'd have maybe got a quote of £300m. If Laing could build it for less it would up Laing's profits, if it went over that then it would be what's known as a Wembley and Laing would be responsible for the extra costs.

Things have changed since then. Laing's own costs (equipment hire, for example) would be less if they priced it up now. The various building materials have come down in price since then. There's less work to go round so different companies are looking at dropping their own charges for this kind of work so they can hopefully win more tenders.

Instead of £300m, it might now be as low as say £200m - £225m. Think how the Parry Bowl kept going up in price without the plans themselves changing. Now it's happening in reverse, although no saying how much it will reverse by.

It's possible that November 6th was the day something expired in the contract and allowed H&G to pull out of it. Now they can go out to tender again and see if they can get a more favourable quote.

A year or so ago they had a credit facility of about £350m. Now it's said to be down to £245m. And they're looking for a new £100m injection from new shares, effectively knocking the debt down to £145m (in theory).

They've also got about £20m a year coming from Standard Chartered starting next year, for whatever it was, 4 or 5 years.

They've got people potentially lined up to buy the naming rights.

If the debt they've been paying off has been knocked off what was classed as the purchase debt then it means any new debt can then be put on the club, because it's not purchase debt.

All in all this cancellation might make it more likely they're staying rather than going.

Which can be found here:-

http://www.liverpoolway.co.uk/forum/ff-football-forum/85424-stadium-cancelled.html

[Kenneth]

How long before groundshare rears it's ugly head once again.

I doubt it. I think the owners will view ownship of the stadium as key. Shared ownership would massively reduce the potential income of the stadium when it comes to hosting non club matches (e.g internationals), concerts, events, conferences etc. Their approach is all about maximising the clubs revenue.