Etihad Campus, Stadium and Collar Site Development Thread

[Maly]

Why though ?

Guessing that it’s for bigger meets ;)

 

[bobbyowenquiff]

The whole land is leasehold. We own the buildings but not the land they stand on. The council want it back in 999 years or a bit less now. We pay a fair whack of rent for occupying the land.
We used to pay a share to the council of all ticket sales over 32,000 but I would imagine that clause has gone now for a raised rent. It was a fair swap: we got City of Mcr stadium, the council got Maine Road.

When you factor in the billions of pounds of investment from CFG and the hundreds/thousands of new businesses and homes in Ancoats, the NQ, and Beswick, the deal and the partnership with the council has made huge profit for the residents of Manchester. None of it would have happened without the help of the two great Bernsteins. David and Sir Howard (RIP).

 

[Gordyola]

I knew that we don't own the land but I didn't realise we actually own the ground. So it isn't a council house after all.

We don't own the stadium we actually own some of the land around it though

An FOI request was submitted and answered See the below

Etihad Campus, Stadium and Collar Site Development Thread

I’ll add some possible reasons. I stand corrected on what I’m posting. Feel free. :-) 1. Additional match day revenue and annual income. 2. Hosting CL and Europa cup finals. 60,000+ capacity 3. It’s a 250 year lease, so additional match day income will also cover the the lease cost, which is...

forums.bluemoon-mcfc.co.uk

 

[jrb]

The AO Arena owner is looking for an operator to take over 100,000 sq ft of vacant space within the complex.



Specialist consultancy Stärka has been appointed by LondonMetric Property to lease the opportunity, which has been branded as Victoria Exchange.



There is also a direct link to a 980-space car park next door. This could be converted to create a 1.7-acre roof terrace under indicative proposals.

LondonMetric launches ‘rare’ Manchester leisure opportunity - Place North West

The AO Arena owner is looking for an operator to take over 100,000 sq ft of vacant space within the complex.

www.placenorthwest.co.uk

 

[domalino]

We must own more of the stadium than we did when we moved in. Didn’t we own the North Stand, because we built and paid for it, and the extension to the South Stand?

The whole land is leasehold. We own the buildings but not the land they stand on. The council want it back in 999 years or a bit less now. We pay a fair whack of rent for occupying the land.
We used to pay a share to the council of all ticket sales over 32,000 but I would imagine that clause has gone now for a raised rent. It was a fair swap: we got City of Mcr stadium, the council got Maine Road.

I knew that we don't own the land but I didn't realise we actually own the ground. So it isn't a council house after all.

We don't own the stadium we actually own some of the land around it though

An FOI request was submitted and answered See the below

Etihad Campus, Stadium and Collar Site Development Thread

I’ll add some possible reasons. I stand corrected on what I’m posting. Feel free. :-) 1. Additional match day revenue and annual income. 2. Hosting CL and Europa cup finals. 60,000+ capacity 3. It’s a 250 year lease, so additional match day income will also cover the the lease cost, which is...

forums.bluemoon-mcfc.co.uk

We don't own the stadium...but we could if we ever wanted to.

I attended a meeting of the fairly short-lived Westminster Branch of the Supporters' Club back in January 2003 at which David Bernstein spoke for nearly three hours. This was about six weeks before he quit as chairman and six months before we took up occupation of the new stadium, and the prospective move was the biggest topic of the evening.

Bernstein confirmed that the lease contains an option for MCFC to acquire the freehold at an option price that reduces over time because the rent we've already paid can be offset against it. He also suggested that it wouldn't make financial sense for City to exercise the option for at least twenty years, maybe more. In theory, of course, the financial landscape changed completely with the 2008 takeover, and what the club could reasonably afford was transformed but, for reasons that are well known, we haven't elected to exercise the option.

The provisions of the lease aren't in the public domain, but the lease is treated for accounting purposes as a finance lease (i.e. a type of lease which presupposes a change of ownership when the lease terminates). We can probably, therefore, reasonably infer that the buyout figure isn't going to be a million miles from the future liabilities recorded in the accounts as attributable to the lease.

The overall figure for lease liabilities in the 2021 accounts was, IIRC, around £64.3 million. That includes all leases and there's no breakdown, but unless someone can correct me I find it hard to imagine that we have any others under which the future payments are significant in relative terms. So around £64 million as at summer 2021 is your rough ballpark figure.

EDIT - I suppose we should also note that it's possible that the arrangement changed when the lease was amended to provide for increased rent in the event of expansion and for the sale of stadium naming rights.

 

[eastmanc]

We don't own the stadium...but we could if we ever wanted to.

We must own some of it as we paid for the North Stand and the upper tier of the South Stand.

 

[KS55]

Note. The fee some have mentioned is not for ‘buying the stadium’ it is for buying the freehold. If the stadium is leasehold, as a matter of English land law, we own the buildings, but not the land they occupy. Leasehold is a form of ownership. The rent is for that land.
I know there was some talk of joint ownership of the building at the beginning as a result of the 32,000 ticket arrangement. No idea where that stands now.

 

[Blue Maverick]

Note. The fee some have mentioned is not for ‘buying the stadium’ it is for buying the freehold. If the stadium is leasehold, as a matter of English land law, we own the buildings, but not the land they occupy. Leasehold is a form of ownership. The rent is for that land.
I know there was some talk of joint ownership of the building at the beginning as a result of the 32,000 ticket arrangement. No idea where that stands now.

Surely the land rent will increase with each extension, a leaseholder can change the amount with different planning, that’s why I bought my freehold as old leasholds of £5 a year can be increased massively if you want to build an extension

 

[remember arthur mann]

Note. The fee some have mentioned is not for ‘buying the stadium’ it is for buying the freehold. If the stadium is leasehold, as a matter of English land law, we own the buildings, but not the land they occupy. Leasehold is a form of ownership. The rent is for that land.
I know there was some talk of joint ownership of the building at the beginning as a result of the 32,000 ticket arrangement. No idea where that stands now.

Thought I heard a yearly payment of £4,000,000.

Man City payout has nearly doubbled amid £5.5m Etihad reveal - sources

Football Insider has learned that the amount Man City pay in rent for the Etihad Stadium has nearly doubled to £5.5million.

www.footballinsider247.com

 

[domalino]

Thought I heard a yearly payment of £4,000,000.

Man City payout has nearly doubbled amid £5.5m Etihad reveal - sources

Football Insider has learned that the amount Man City pay in rent for the Etihad Stadium has nearly doubled to £5.5million.

www.footballinsider247.com

I think that means we’ve repaid roughly £80m to MCC for their £22m investment, not including the value of Maine Rd which they also got.