Quote: lou kate "Have you considered this?
Peel do not have any sway with the stadium,it is owned by the City of Salford solely!'"
Somehow I don't think that's true.
The stadium appears to be owned by THE CITY OF SALFORD COMMUNITY STADIUM LIMITED registered number 07225208
The current directors are:
Mr David Jonathon Glover - also a director of Peel Land and Property Investments Plc and 26 other companies all with the exception of The Pie Factory Limited having "Peel" in their name!
Mr Mark Leslie Reeves - no other directorships
Mr David Anthony Lancaster - also a director of The Lowry Centre Trust, The Salfordian Trust Company Limited and The Landing At Mediacityuk Limited so presumably a Salford City council chappie?
Mr Peter John Hosker - with 171 other directorships again virtually all related to Peel companies
and finally the Company Secretary is given as:
Peel Management Limited and the registered address is:
THE CITY OF SALFORD COMMUNITY STADIUM LIMITED
PEEL DOME
THE TRAFFORD CENTRE
MANCHESTER
ENGLAND
M17 8PL
a little more reseach and investing £1 with companies house tells us that the shareholding is broken down as follows:
Salford Council 5,000,000 £1 ordinary shares
Peel 5,000,000 £1 ordinary shares
Salford Council 1,666,666 £1 Preference shares.
The ordinary shares confer voting rights and can receive dividends but the preference shares have no voting rights, the owner of the prefs can recover their value out of either capital (eg if the stadium were sold) or the Stadium company can buy the preference shares from their owner.
So it would appear that for share capital Peel & The Council each put in £5,000,000 then the council put in a further £1.67 million