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Burnley FC finances
Posted: Fri Aug 05, 2022 11:14 am
by aggi
I thought it would be useful to have a general thread for this rather than each new bit of news going on whatever the current thread is.
To lead off, one thing I was wondering about is we have this land off Molly Wood Lane
but according to the accounts the club doesn't have any freehold land
- Screenshot 2022-08-05 110741.jpg (60.66 KiB) Viewed 1472 times
Not quite sure why. I guess the value of the land may be so minimal that it isn't material but that would suggest that it's not really big enough to do anything with.
Anyone cast any light on it?
Re: Burnley FC finances
Posted: Fri Aug 05, 2022 1:00 pm
by Claretforever
Could it be something to do with Bob Lord? Didn’t he sell land around that area to the club, and then when they were compulsory purchasing land for the M65 he twisted the club’s are to sell it back to him? I thought I read it in a book perhaps?
Maybe that was excess lad they didn’t need for the building works so was never sold back to Lord?
Re: Burnley FC finances
Posted: Fri Aug 05, 2022 1:19 pm
by gawthorpe_view
Bob Lord sold virtually worthless Lowerhouse Lodges to the club, then demanded they sold it back to him when they needed somewhere to tip the spoil from the M65 project. A very lucrative prospect.
The club came to an agreement with Lord to split the money.
Dave Thomas' book about Lord explains it in some detail.
Re: Burnley FC finances
Posted: Fri Aug 05, 2022 1:44 pm
by FCBurnley
BGS cross country course round Lowerhouse lodges ! Hated em
Re: Burnley FC finances
Posted: Fri Aug 05, 2022 4:16 pm
by Paul Waine
aggi wrote: ↑Fri Aug 05, 2022 11:14 am
I thought it would be useful to have a general thread for this rather than each new bit of news going on whatever the current thread is.
To lead off, one thing I was wondering about is we have this land off Molly Wood Lane
but according to the accounts the club doesn't have any freehold land
Screenshot 2022-08-05 110741.jpg
Not quite sure why. I guess the value of the land may be so minimal that it isn't material but that would suggest that it's not really big enough to do anything with.
Anyone cast any light on it?
Hi aggi, I've looked at the accounts of Longside Properties and of Burnley FC Holdings. Both these sets of accounts mention Freehold Land and Buildings. The freeholds are, as you show, held by Longside Properties. Burnley Football and Athletic lease from Longside Properties. The parent entity, Burnley FC Holdings in the consolidated accounts shows Freehold Land and Buildings, including the leasehold improvements made by BFACL.
Re: Burnley FC finances
Posted: Fri Aug 05, 2022 4:21 pm
by Paul Waine
Paul Waine wrote: ↑Fri Aug 05, 2022 4:16 pm
Hi aggi, I've looked at the accounts of Longside Properties and of Burnley FC Holdings. Both these sets of accounts mention Freehold Land and Buildings. The freeholds are, as you show, held by Longside Properties. Burnley Football and Athletic lease from Longside Properties. The parent entity, Burnley FC Holdings in the consolidated accounts shows Freehold Land and Buildings, including the leasehold improvements made by BFACL.
Too late to edit.
EDIT: Reading again, you are asking about the Freehold land shown in Land Register as held by BFACL. I've no idea on this. Maybe there's a solicitor/conveyancer who posts on here who can inform us.
Re: Burnley FC finances
Posted: Fri Aug 05, 2022 4:33 pm
by aggi
Paul Waine wrote: ↑Fri Aug 05, 2022 4:16 pm
Hi aggi, I've looked at the accounts of Longside Properties and of Burnley FC Holdings. Both these sets of accounts mention Freehold Land and Buildings. The freeholds are, as you show, held by Longside Properties. Burnley Football and Athletic lease from Longside Properties. The parent entity, Burnley FC Holdings in the consolidated accounts shows Freehold Land and Buildings, including the leasehold improvements made by BFACL.
Yes, the security document has the land sitting in Burnley Football & Athletic Company though which doesn't seem to tally with the accounts.
EDIT: I should probably have refreshed this before posting.
Re: Burnley FC finances
Posted: Fri Aug 05, 2022 4:53 pm
by Royboyclaret
Always helps, of course, if the information contained on the 'Registered Land Properties' document is accurate. The land in question is located on Molly Wood Lane, Hapton, NOT Hampton as indicated. Molly Wood Lane is basically an extension of Lower Rosegrove Lane alongside the M65.
The land comprises 44 acres and BFC purchased it from Lord for the princely sum of £16,000 in August '72. The plan was to sell Gawthorpe (which Adamson claimed was too big for purpose) and construct a new training ground on Molly Wood Lane. Within weeks, however, Lord had bought an element of the land back and, of course, the new training ground never saw the light of day.
As far as I'm aware that remains the current situation.
Re: Burnley FC finances
Posted: Fri Aug 05, 2022 5:01 pm
by Chester Perry
Royboyclaret wrote: ↑Fri Aug 05, 2022 4:53 pm
Always helps, of course, if the information contained on the 'Registered Land Properties' document is accurate. The land in question is located on Molly Wood Lane, Hapton, NOT Hampton as indicated. Molly Wood Lane is basically an extension of Lower Rosegrove Lane alongside the M65.
The land comprises 44 acres and BFC purchased it from Lord for the princely sum of £16,000 in August '72. The plan was to sell Gawthorpe (which Adamson claimed was too big for purpose) and construct a new training ground on Molly Wood Lane. Within weeks, however, Lord had bought an element of the land back and, of course, the new training ground never saw the light of day.
As far as I'm aware that remains the current situation.
Informative as ever Roy - great to see a post from you, I for one have missed your input
Re: Burnley FC finances
Posted: Fri Aug 05, 2022 5:07 pm
by ClaretTony
Royboyclaret wrote: ↑Fri Aug 05, 2022 4:53 pm
Always helps, of course, if the information contained on the 'Registered Land Properties' document is accurate. The land in question is located on Molly Wood Lane, Hapton, NOT Hampton as indicated. Molly Wood Lane is basically an extension of Lower Rosegrove Lane alongside the M65.
The land comprises 44 acres and BFC purchased it from Lord for the princely sum of £16,000 in August '72. The plan was to sell Gawthorpe (which Adamson claimed was too big for purpose) and construct a new training ground on Molly Wood Lane. Within weeks, however, Lord had bought an element of the land back and, of course, the new training ground never saw the light of day.
As far as I'm aware that remains the current situation.
I'd assumed it was Hapton but thanks for that info Royboyclaret - it was certainly something I wasn't aware of although I do remember Adamson wanting to move the training ground.