Quote Bigger Cat="Bigger Cat"Thanks for the update IA.
Maybe you can help with another couple of Qs?
In a few of the announcements i'm fairly sure Jimmy Elston talked about 2015 season at Newmarket - based on the few bits i'd heard isn't this way optomistic given the enabling project has to be built and a certain percentage of the units occupied first?
Secondly does anyone have an update on the finances of yorkcourt?
Apologies if you've been through this stuff before for other people.'"
Given this is your first post I, like everyone else, suspect you are trolling!
However, lets give you the benefit of the doubt and answer your questions seriously.
The start of 2015 season is still over 2 years away, so there is still over a year before the main stadium build would have to be started to meet this target.
The section 106 is a legal obligation which compels the developer to start work on the stadium at the worst case when a certain amount of floor space has been built and occupied. That is what he must do to meet this legal obligation, equally it doesn't say he can't start straight away. The is a big difference to what they have to do and what they may or may not do!
The finances of Yorkcourt are generally irrelevant, for various reason. Firstly, as well as the developer, WMDC and the landowner(s), the other party to the section 106 is the bank. So if they have signed, which we understand they have, they are clearly not worried! Secondly, Yorkcourts current trading position is just that, current, but future investment and investors when Newmarket does get the final nod could be somewhat different! Finally, who says that Yorkcourt will ultimately be the lead developer/investor in Newmarket!
HTH
