Valkyrie_Wings wrote:al1 wrote:The board should have realised what would happen as soon as the problems at Worcester Warriors started!It was obvious then what sort of people we were dealing with,but they said 'nothing to see here' and we believed them!
that's what caused me to realise that they were asset strippers long time before NAPM movement began, we are only lucky that the Maz is protected by JB Christie's Trust
Is it though? It will depend on the exact wording of the trust deeds. I'm sure I once read that it was basically preserved for sports facilities, so that could mean the whole site being taken over by, say, a local Rugby club, or the pitch alone used by a local amateur/young football team, i.e. Westgate Wanderers etc, with the buildings (owned by MFC Limited) being re-purposed to offices etc and not made available for spectators/changing rooms, etc?
Over the years, the loans have been secured by legal charges over the buildings on the site. The lenders wouldn't lend against that security if there wasn't an inherent resale value of the buildings, so that suggests that the "legal people" in the loan companies think that the buildings will have long term alternative uses besides and beyond whatever remains of Morecambe Football Club, i.e. converted etc to offices, a GP surgery, or whatever other uses the buildings could be put to.