by MellowYellow » 11 Oct 2018, 22:39
Hard to know what exactly is going on with TCFC.
Cornish Pirates have pledged an extra £1m towards the Stadium for Cornwall project amid worries over Truro City's ability to contribute. Truro & Penwith College have pledged the other £1m that is outstanding.
What we do know is the Stadium for Cornwall will be owned by the Cornish Pirates, who will have freehold title thereby taking the full financial risk on the project.
The other two partners, Truro & Penwith College & TCFC, will have 125 year leases at a peppercorn rent - subject to them providing their £2million contribution.
I assumed that TCFC had stumped up their contribution -when they moved away from Treyew Road. But then again who is "in the know" on the precise issues of the 106 / Helical deal. But there are concerns that Helical, the firm that bought Truro City's ground, will not pay the club before construction is due to start.
In the unfortunate case that TCFC are unable to stump up their contribution then the agreement falls away and TCFC would have to join under a different commercial deal. Things are not looking good for TCFC.
Hard to know what exactly is going on with TCFC.
Cornish Pirates have pledged an extra £1m towards the Stadium for Cornwall project amid worries over Truro City's ability to contribute. Truro & Penwith College have pledged the other £1m that is outstanding.
What we do know is the Stadium for Cornwall will be owned by the Cornish Pirates, who will have freehold title thereby taking the full financial risk on the project.
The other two partners, Truro & Penwith College & TCFC, will have 125 year leases at a peppercorn rent - subject to them providing their £2million contribution.
I assumed that TCFC had stumped up their contribution -when they moved away from Treyew Road. But then again who is "in the know" on the precise issues of the 106 / Helical deal. But there are concerns that Helical, the firm that bought Truro City's ground, will not pay the club before construction is due to start.
In the unfortunate case that TCFC are unable to stump up their contribution then the agreement falls away and TCFC would have to join under a different commercial deal. Things are not looking good for TCFC.