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[bigcol]

Although this seems to be good and reasonable:

The NL Paper reports that "Northwich will not be forced out of the Marston's Arena despite the collapse of the company that owns the ground. Beaconet Ltd, owned by former Vics' chairman Mike Connett went into receivership on October 30th. Its assets will be sold to pay off creditors. Under normal circumstances the stadium would be sold to the highest bidder, leaving the club homeless unless it could find enough money to buy it. But because of a lease signed between Connett and Vics' chairman Jim Rushe, last year, Vics are protected for 25 years. Northwich are named as "successor tenants", meaning anyone who buys the ground is obliged to let them remain. The upshot is that the site is effectively worthless to developers and that could see its value drop enough for Vics to buy back their home". In the interim Vics are paying rent to the receivers.

That "25 years" clause is just something that can be bought out - if a developer offers V*cs enough money they will waive their right, which will appeal to them if a) they need the money and b) they can ground share (which they are obviously investigating).

[anglo alty]

i can't really see vics and witton ground sharing (more chance of the israelis and the palestinians shaking hands) despite the benefits to both clubs finanancially

[Hale Alty]

Northwich shared with Witton when the Victoria Stadium was being built. Witton chairman Mark Harris has already been quoted as saying sharing isn't an option whilst Runcorn are already doing so.

[matnvfcmad]

Witton can go and get stuffed were safe for another 25 years at least

[bigcol]

Witton can go and get stuffed were safe for another 25 years at least

But this is my point.  You aren't safe, not by a long shot. 

[Darren]

http://www.northwichguardian.co.uk/vics/3840898.Rushe_finds_backers_to_fund_ground_bid/


http://www.northwichguardian.co.uk/vics/3841493.Vics_landlord_still_trading__warn_finance_experts/

[York Alty]

spot on Bigcol.

Having a ground to play in only the very start of securing a future.  From our non-legal understanding of it you may have the ground for25 years, so long as nobody comes and offers you dosh to sell up.  Options)

1) sell up, homeless but presumably debt free.  No ground, no regular income.  try and find a home near enough to the town.  Smells like our chums from Runcorn to me.

2) refuse to sell.  You have no lump sum of cash, you have p1ss poor gates, you're still spending more then you earn.

Doesn't take much to come to the pbvious conclusion.

I loathe vics, always have & always will...BUT seeing a club collapse isn't funny so i do wish you enough to survive on so we have the joy of beating you and then laughing as you sink sink sink into the backwaters of the cheshire league western divison 2 or whatever...

p.s. northwich is a stinking tip.

[Ballers]

“To move to the next level we have to have affluent people who can write cheques themselves or are in a position to borrow large amounts of money. "

Yes, cos that'll work.

Oh my God, do some people never learn? The next level? you're already at it, in fact full time is already above it Jim Rushe you dick.

[Mick]

The mind boggles !
Yeh, what we need is lots of money...........either from people who have enough to waste on non-league football, or from those who are clever enough to be able to borrow it without ever having to pay it back. Great business plan.

Why any organisation would ever give anyone involved with NV a single penny is a complete mystery. There recent history is such that I would not even supply them bags of fresh air with payment in full up front.

Also, what is wrong with UK legislation that allows low-life parasites like Connett to continually avoid imprisonment ?

[Ballers]

If I've read this correctly about Connett.

He bought the land for £225k, borrowed about £1.6million of which he spent about £375k on the ground., never paid a penny out when he owned Northwich (HMRC, lecky bills). Now the ground is taken of him to be sold for over £2million to pay of the loans, while the actual loan money is dispersed elsewhere.

Good work on his part. That's a profit of £1million for being a complete shyster isn't it?