Quote: Derwent "Pure speculation of course, but I wouldn't be surprised if it is some kind of scheme to buy back the Odsal lease. The reason I say this is because OK has already spoken about investing significant amounts into Odsal. Why would he do that without owning either the lease or the buildings ? It'd be like renting a flat from a landlord and paying to put a new kitchen and bathroom in yourself. Nobody in their right mind would invest the kind of money talked about (~£6m IIRC) into a facility without owning it first.'"
He owns the Coral stand. He is investing in that.
He rents the terraces. I believe he has a longish lease from the RFL. He is planning - when funds permit - to put a lid on the popular terrace. That will be leasehold improvements, same as any normal leasehold improvements. If it generates more income and recovers the investment cost, it matters not one jot whether he owns or leases the site.
He has plans to put new buildings on some of the site. Ditto.
If you had a reasonably long tenant's repairing lease for your flat, you would have no qualms about putting in a new kitchen and bathroom. Indeed, my mother did precisely that when she had a housing association flat (which she never bought). I think she would take great exception to you telling her she was not in her right mind, you know.