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I read in the Sunday Business Post yesterday that some FAI Officers had voiced concerns over their monetary contribution to the Lansdowne Rd. project for which they'd have absolutely no ownership rights.
Have to admit, €41m is a lot to contribute when you consider that the FAI will still have to pay rent and have no claim on the venue.
The story is online here.
Quote:
Originally posted by Peadar
I read in the Sunday Business Post yesterday that some FAI Officers had voiced concerns over their monetary contribution to the Lansdowne Rd. project for which they'd have absolutely no ownership rights.
Have to admit, €41m is a lot to contribute when you consider that the FAI will still have to pay rent and have no claim on the venue.
It was originally thought that the IRFU would continue to own the land on which the new stadium was built. However the stadium would be owned by a management company of which the government, IRFU and FAI would be partners. This is the absolute minimum to which the FAI should agree. Anything less and there is no point in the FAI making any contribution whatsoever to the new stadium.
For the IRFU to pay 41 million out of 300 million and continue to own the stadium "lock, stock and barrel" as one of their senior officials so eloquently put it, would make idiots of the government (not that difficult :D ). For the FAI to pay the same amount and own nothing would be a disaster. I am surprised that Fran and the boys apparently didn't examine this area before supporting the proposal.
this all made sense a few weeks ago, it seems they are now havin second thoughts. have they forgotten that the fai revenue will go up
so what if the irfu get more profit as they wont be payin rent, its their land, but it will be a shared stadium
otherwise the fai can go get their own land and build their own stadium
Bertie, is that you?:DQuote:
Originally posted by yur man
otherwise the fai can go get their own land and build their own stadium
Naw the IRFU will have to pay rent too, according to the Press Realeases at the time anyhowQuote:
Originally posted by yur man
this all made sense a few weeks ago, it seems they are now havin second thoughts. have they forgotten that the fai revenue will go up
so what if the irfu get more profit as they wont be payin rent, its their land, but it will be a shared stadium
otherwise the fai can go get their own land and build their own stadium
should have said TRY and get their own land and stadium AGAIN :pQuote:
Originally posted by tiktok
Bertie, is that you?:D
looks like some of the fai officers didnt read them thenQuote:
Originally posted by SÓCcfc
Naw the IRFU will have to pay rent too, according to the Press Realeases at the time anyhow
My understanding is that the IRFU, the FAI and the gonernment all have a stake in the company that will own the new stadium and anyone (including FAI and IRFU) who wants to use it pays rent to this company. Presumably the IRFU will have a higher stake than the FAI as they provided the site.
The FAI will more or less raise all their stake on advance sales of Premium tickets & Corporate boxes so that can essentially treated as new revenue that unavailable currently.
I don't think anyone will rent the land as such, just the IRFU take a 50 odd year pause in ownership...? I think all will happen is the IRFU, FAI, government or whopever will rent the stadium per event.
You obviously didn't read the article then Pete?Quote:
Originally posted by pete
I don't think anyone will rent the land as such
The FAI have said they will have to pay rent.
But not to the IRFU, they'll pay it to a company that they own a stake in and the IRFU will do the same so the FAI will get some revenue from rugby matches unlike now and I'd imagine they'll pay less than they do now.Quote:
Originally posted by Peadar
The FAI have said they will have to pay rent.