Racecourse to change ownership

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  • #94129

    99DylanJones
    Participant

    It looks like we will have the announcement any minute now that the ownership / operational control will move from Glyndwr directly to Wrexham FC. This will mean that the Club will be fully responsible for the upkeep fpr the facilities, staffing at matches etc.
    Lets hope this will lead to new investment.
    This is all part of the major cost cutting that is going on in the University following the appointment of a new temporary Vice Chancellor

    #94161

    Alunh
    Participant

    [quote quote=94129]It looks like we will have the announcement any minute now that the ownership / operational control will move from Glyndwr directly to Wrexham FC. This will mean that the Club will be fully responsible for the upkeep fpr the facilities, staffing at matches etc.
    Lets hope this will lead to new investment.
    This is all part of the major cost cutting that is going on in the University following the appointment of a new temporary Vice Chancellor

    [/quote]

    I’m not sure how you work this one out Dylan. Surely, Glyndwr are passing over Cost to the club and I don’t equate that with Investment…..unless I am missing something…..which I probably am……

    #94169

    99DylanJones
    Participant

    It potentially means the Club could access some sports,FAW funding that the University could not as they actually do not run a football club but only a stadium.

    #94181

    R T
    Keymaster

    This post appears to have sparked a fair bit of interest – however it seems the relevant stakeholders are not commenting / saying anything is happening.

    Ownership v a lease are big differences – any information on which way that is swaying?

    #94182

    99DylanJones
    Participant

    Ful purchase would give the Uni a cash injection where as a lease would give them an income over the 20 year period plus they still retain the capital value of the land as an asset within their accounts- it would also potentially give the Uni the option of taking loans out against the value of the site for security.
    The key issue would be if the Club can actually afford to pay a lease when their only income is gate receipts, small TV fees and small FAW grants.
    This is sure to raise speculation — a ‘No comment’ in itself is a comment!

    #94265

    wxm
    Participant

    The Racecourse no doubt needs ordinary sales and revenue from normal trading, and will not thrive on grants and subsidies. Whatever its future, it needs to be a success in its own right

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