Friday, 30 August 2013

My interview with Shane O'Connor is now online

I’ve received a number of questions today about some of the topics I discussed on air today. There is a quick reply below based on what I’ve information I’ve been given.

The club agrees and acknowledges that if the club was to be promoted to a higher league that they should pay a higher rent at the Ricoh. However, a levy was proposed by ACL on all ticket sales should the club be promoted, limiting the clubs income stream.  

The club never stopped paying rent
While the wider deal was being negotiated, everyone acknowledged that the £1.2m rent was unsustainable and a lower, interim rent figure should be agreed. An interim rent of £10,000 per match was agreed.

The rent had historically been paid by the club topping up an escrow account Rent Deposit Account so that there would always be a balance of £500,000 in it.  At the start of the rent "dispute", according to our sources,  ACL took the £500k out of this account as a lump sum - and the club continued to pay the interim rent for every match thereafter.

2. Match-day costs were paid directly by the club, not ACL
The key match-day costs, such as stewards, police, St. John ambulance, etc. were always paid directly to those service providers by the club - not via ACL 

So for each match, the club paid the interim rent to ACL and in addition paid the match-day costs directly to the service providers.