Post by QPR Report on Apr 12, 2009 19:51:55 GMT
Awfully hard to understand (at least for me!)
Luton Official Statement - CLUB STATEMENT
Luton Town Football Club 2020 have become aware of an increasing level of observations by supporters and the press as to the Club's proposals in respect of relocation and stadium development. Ignoring the isolated possibility of remaining at Kenilworth Road, the Club would like to confirm that a number of sites for new grounds have been identified, proposed or submitted to us in the recent past.
However, at this stage the Club would like to reiterate that it is not inclined to deviate from its stated position in respect of ground relocation. It is the view of the Supervisory Board and Directors of Luton Town Football Club 2020 Ltd that until the Club is on a stable financial footing it would be inappropriate to make final decisions regarding the location and size of any potential new ground. Until this has been reached the board will continue reviewing and considering all of the various proposals being put forward as is practically possible. If any proposal put forward seems immediately and unarguably beneficial to the Club enabling it to reach financial stability more quickly any decision making process could possibly be accelerated.
In order fully to evaluate any given site, it will be necessary for the Club to consider, in great detail, the location of that site, to consider funding proposals that might relate to it and to evaluate the financial and community benefit accruing to the Football Club. Some of those proposals may involve developers supplying a completed stadium and associated facilities to the Club. Although this may look like a 'gift horse' situation, the reality is usually much more complex. Should any developer make such a 'gift' the Club would need to be sure, as long serving Luton fans and current custodians, that any attached conditions and cannot damage the long term interests of the Club. It would also need to assess any associated and included facilities within any potential proposal and their impact on operational profitability.
There are considerable and necessary financial costs that will need to be met (legal and consultation fees, for example) that the Club would have to bear to carry out a comprehensive check that a proposal has a realistic likelihood of success. The Club cannot commit to relocation unless it is absolutely certain that:
A. A particular site has a realistic chance of obtaining planning consent.
B. The promoter of a given scheme has the ability to make the necessary land purchase arrangements to be able to deliver a completed site/stadium to us.
C. The developer is of sufficient creditworthiness to see through a scheme.
D. The terms of the deal do not, as mentioned above, damage the strategic interests of the Club
At this moment in time Luton Town is not in possession of sufficient information to make a decision as to any of the potential sites that exist within its preferred area of consideration.
The Club has obtained, and will continue to seek, all the relevant (including legal and planning) professional advice necessary for us to evaluate the proposals.To that extent prominent London solicitors have been instructed to consider the legal and planning aspects of some of the development appraisals that have been prepared on behalf of certain developers.
Notwithstanding the somewhat uncertain league status of the Club at the present moment and, in particular, the current financial climate in football, the Supervisory Board and Directors are extremely optimistic as to the future of the Club.
Gary Sweet, Managing Director said: "The fact that the business is now debt-free and along with the forthcoming proceeds from our fantastic victory at Wembley, which will help to some degree, our financial position is definitely looking more healthy. However, in light of the current climate further investment is still very much needed in order to arrive at a position of stability and to ensure that the Club can afford to relocate."
Gary continued: "Our primary objectives in the immediate future must be league survival, improving business efficiencies and attracting new investment, all of which will increase our likelihood of being able to consider relocation more quickly."
This statement should not, in any way, be taken as indicating a preference or otherwise for any specific proposal. Rather, it merely reiterates the Club's stance at this present time.
It follows from the above that the Club welcome assistance from developers and other persons whose interests and values of openess, honesty and transparency are not inconsistent with those of the Club and all Hatters fans.
www.lutontown.co.uk/page/NewsDetail/0,,10372~1622106,00.html
Luton Official Statement - CLUB STATEMENT
Luton Town Football Club 2020 have become aware of an increasing level of observations by supporters and the press as to the Club's proposals in respect of relocation and stadium development. Ignoring the isolated possibility of remaining at Kenilworth Road, the Club would like to confirm that a number of sites for new grounds have been identified, proposed or submitted to us in the recent past.
However, at this stage the Club would like to reiterate that it is not inclined to deviate from its stated position in respect of ground relocation. It is the view of the Supervisory Board and Directors of Luton Town Football Club 2020 Ltd that until the Club is on a stable financial footing it would be inappropriate to make final decisions regarding the location and size of any potential new ground. Until this has been reached the board will continue reviewing and considering all of the various proposals being put forward as is practically possible. If any proposal put forward seems immediately and unarguably beneficial to the Club enabling it to reach financial stability more quickly any decision making process could possibly be accelerated.
In order fully to evaluate any given site, it will be necessary for the Club to consider, in great detail, the location of that site, to consider funding proposals that might relate to it and to evaluate the financial and community benefit accruing to the Football Club. Some of those proposals may involve developers supplying a completed stadium and associated facilities to the Club. Although this may look like a 'gift horse' situation, the reality is usually much more complex. Should any developer make such a 'gift' the Club would need to be sure, as long serving Luton fans and current custodians, that any attached conditions and cannot damage the long term interests of the Club. It would also need to assess any associated and included facilities within any potential proposal and their impact on operational profitability.
There are considerable and necessary financial costs that will need to be met (legal and consultation fees, for example) that the Club would have to bear to carry out a comprehensive check that a proposal has a realistic likelihood of success. The Club cannot commit to relocation unless it is absolutely certain that:
A. A particular site has a realistic chance of obtaining planning consent.
B. The promoter of a given scheme has the ability to make the necessary land purchase arrangements to be able to deliver a completed site/stadium to us.
C. The developer is of sufficient creditworthiness to see through a scheme.
D. The terms of the deal do not, as mentioned above, damage the strategic interests of the Club
At this moment in time Luton Town is not in possession of sufficient information to make a decision as to any of the potential sites that exist within its preferred area of consideration.
The Club has obtained, and will continue to seek, all the relevant (including legal and planning) professional advice necessary for us to evaluate the proposals.To that extent prominent London solicitors have been instructed to consider the legal and planning aspects of some of the development appraisals that have been prepared on behalf of certain developers.
Notwithstanding the somewhat uncertain league status of the Club at the present moment and, in particular, the current financial climate in football, the Supervisory Board and Directors are extremely optimistic as to the future of the Club.
Gary Sweet, Managing Director said: "The fact that the business is now debt-free and along with the forthcoming proceeds from our fantastic victory at Wembley, which will help to some degree, our financial position is definitely looking more healthy. However, in light of the current climate further investment is still very much needed in order to arrive at a position of stability and to ensure that the Club can afford to relocate."
Gary continued: "Our primary objectives in the immediate future must be league survival, improving business efficiencies and attracting new investment, all of which will increase our likelihood of being able to consider relocation more quickly."
This statement should not, in any way, be taken as indicating a preference or otherwise for any specific proposal. Rather, it merely reiterates the Club's stance at this present time.
It follows from the above that the Club welcome assistance from developers and other persons whose interests and values of openess, honesty and transparency are not inconsistent with those of the Club and all Hatters fans.
www.lutontown.co.uk/page/NewsDetail/0,,10372~1622106,00.html