Quote The Dentist Wilf="The Dentist Wilf"Plus ours is a 25 year deal with an option for another 25 year, there is no doubt if you speak to those in the know that City will go into administration if they go down, but the SMC is a seperate entity altogether. It is constituted as seperate from the football and rugby clubs and as you say beholden to the owners o the Stadium, the Council. The biggest threat to RL clubs at the moment particulaly those who are really struggling, is the Sky/Ofcom issue, which if they don't successfully appeal, could see clubs TV money cut by 40% at least that would see some borderline clubs immedately go to the wall!
If for any reason the SMC should go to the wall the owners of the facilty, the Council, would simply replace it!'"
From scanning through the information available it looks to me like the SMC and city are pretty much one and the same to RBS as bartlett owns both, has provided guarantees and hocked the lease. I'm assuming it is the SMC lease, not city's as the former has commercial value whereas the 2nd one doesn't.
The council really, IMO, should have had clauses in the lease to prevent this so maybe it is city's lease they have which really isn't worth anything other than to someone who buys city.
You'd hope also that there are clauses in the lease where it is cancelled in circumstances of insolvency, which will protect us in these circumstances.
ps other people have friends in high places as well
