Princes Park to get a facelift

[HBF]

More News from the PP facelift

http://heraldsun.com.au/footy/common/story_page/0,8033,21083077%5E20322,00.html

 

[eathb]

Re: More News from the PP facelift

The AFL would never do anything nice like that for any of Port's oval.

 

[The Old Dark Navy's]

Re: More News from the PP facelift

The AFL would never do anything nice like that for any of Port's oval.

Nope. Wouldn't do it for Carlton either. We've sourced other backing for the project.

 

[Dramoth]

How long is the lease for?

Is there any possibility of the local or state government resuming the land after we spend a bundle on the redevelopment?

If there is a danger of the land being resumed, then I wouldnt bother going ahead with the development. Just seems like a waste of money to do all the work and then have the government take it away from us.

But if there is no danger of it being snaffled from us, then I would suggest waiting and seeing what happens. It looks like it could be rather exciting for the club. It will be a major shame to see PP go the same way as Waverly Park, but thats the future I think.

 

[HBF]

Re: More News from the PP facelift

The AFL would never do anything nice like that for any of Port's oval.

Collingwood also had to get backing from another source, hence the name, The Lexus Centre.

 

[Teagueeee15]

Not sure (perhaps somone with more financial knowledge could correct me), but the 4% is probably (like a fully franked dividend) after tax, which for the likes that are investing is probably a good return........just a thought.

Personally i don't think it is a good return, because you have to look at the real interest rate. The real interest rate is calulated by subtracting the current inflation rate from the interst rate:
Eg: 4%-3.8%= which only gives you a "real" earning of 0.2%.

 

[borissey]

Yeah but it converts into something doesnt it? Its what it converts into that probably has some value. its not just a debt that needs to be repaid, its a convertible note which could become ownership of a part of the redevelopment.

 

[Effes]

What happens to this now that Rose has 'resigned'?

 

[AlecDuncan]

What happens to this now that Rose has 'resigned'?

No change I'd expect. The interested parties will find a way around Rose not being on the CFC board. No-one's indispensible.

 

[Effes]

No change I'd expect. The interested parties will find a way around Rose not being on the CFC board. No-one's indispensible.

So they really didn't have to be on the board in order for the development to go ahead like they said?

 

[AlecDuncan]

So they really didn't have to be on the board in order for the development to go ahead like they said?

They have to be, until they can't be I imagine .

 

[BlueBelle]

And what about votes that have been given to Marcus Rose? The voting process clearly stated that you must strike out a minimum of 4 names otherwise they will be void.

What if voters only eliminated 4 names and one of them was Rose? Then what?

 

[AlecDuncan]

And what about votes that have been given to Marcus Rose? The voting process clearly stated that you must strike out a minimum of 4 names otherwise they will be void.

There must be some contingency for this, but I don't know what it would be. I seriously doubt the votes would be void.

Maybe Rose can redirect his votes as a proxy for someone else?