£2,500,000

Quoted from WayneBurnettsJockstrap

If within the takeover, the Consortium then own Blundell Park, then a quick wayward safety match can get rid of plenty of the seating area, and then within the borders of the ground can be built A LOT of 'affordable housing' selling at 60-70k per house.

The 2.5m, and then some, would be recouped easily from the sales after they have built a new stadium. With the help of outside interests and investments, undoubtedly they would have further plans to invest further in the town.

To them, the 2.5m is probably a cheap foot in the door

I am guessing Blundell Park occupies around 10 acres or so. Building land in North East Lincs sells for between £120k and £200k based on location. So the land might, with planning permission, be worth £1.2 to £2m. But given the location probably towards the lower end of that range.

That's about the only asset the club has. The playing squad is more or less worthless. In fact several contracts need paying up, so the squad is probably more of a financial liability than asset.

So it only makes financial sense to buy the club for the benefits that come with regeneration.  The new owners are not mugs. They will have made sure that they can make the transaction work financially.

You have to factor in the cost of demolishing BP, guessing but probably around £500K.

Quoted from promotion plaice

You have to factor in the cost of demolishing BP, guessing but probably around £500K.

Whereas fenty has been chipping away at it for years costing 2.5 mill

Quoted from RonMariner

I am guessing Blundell Park occupies around 10 acres or so. Building land in North East Lincs sells for between £120k and £200k based on location. So the land might, with planning permission, be worth £1.2 to £2m. But given the location probably towards the lower end of that range.

Without actually selling the land and developing it themselves, a lot of houses can be built on 10 acres. 5 detached houses per acre. Minimum of 150k per house. That's a nice income in anybodies book.

But like you said, even if they sell the land off, they could recoup upwards of 50% of their initial outlay which would get it off their hands instantly.

Quoted from WayneBurnettsJockstrap

Without actually selling the land and developing it themselves, a lot of houses can be built on 10 acres. 5 detached houses per acre. Minimum of 150k per house. That's a nice income in anybodies book.

But like you said, even if they sell the land off, they could recoup upwards of 50% of their initial outlay which would get it off their hands instantly.

Sounds easy, but by the time you have spent hundreds of thousands demolishing BP,  spent a year and many tens of thousands on a planning application and consultants fees, spent hundreds of thousands putting in access roads and services, had to commit to funding hundreds of thousands in Section 106 contributions, agreed to 30% affordable housing on which developers make little or no return, and then built the houses, you would be surprised at how little net profit is generated on a development of that size.

Quoted from WayneBurnettsJockstrap

Without actually selling the land and developing it themselves, a lot of houses can be built on 10 acres. 5 detached houses per acre. Minimum of 150k per house. That's a nice income in anybodies book.

But like you said, even if they sell the land off, they could recoup upwards of 50% of their initial outlay which would get it off their hands instantly.

It's not an area for detached houses. People looking for a nice big detached house don't want one around there. There is plenty of scope for a builder to make profit on that land, if indeed that is what happens to it, but it will be social housing at a guess.

I don't think it's about the money anyway. You don't buy a football club to make money and you can't really put a price on what you have to pay to buy one. Something is worth what someone is willing to pay for it and in this case, that is 2.5 million. It's more of an emotional decision than a business one. They have the money and they are choosing to spend it on their home town club. If I had the money, I'd buy it, regardless of the financial implications.

If you've made a sh1t ton of money in your life, what else are you going to do with it?

IT pains me to say this I will not set foot in BP as long as Fenty is connected to the club  

To think that Shutes & co have been trying to get this over the line for close to 2 years and Fenty has spent that time publicly denigrating them, calling them tyre kickers and time wasters, questioning their intentions and abilities. Every day he has clung on has put us one day closer to the conference and oblivion, to be frank.

I hope Fenty and his hangers on aren’t expecting to be attending matches in the future.

Quoted from RonMariner

Sounds easy, but by the time you have spent hundreds of thousands demolishing BP,  spent a year and many tens of thousands on a planning application and consultants fees, spent hundreds of thousands putting in access roads and services, had to commit to funding hundreds of thousands in Section 106 contributions, agreed to 30% affordable housing on which developers make little or no return, and then built the houses, you would be surprised at how little net profit is generated on a development of that size.

Demolition won't cost a penny because of all the scrap metal etc.

Think the valuation of BP in the accounts is around £700k. Which is what it’s net value is (land minus cost of clearing the site). There isn’t that much land, and regardless of the scrap value of any materials. Wouldn’t have thought it was as much as 10 acres. More like 5 or 6.