Like I said: "Light years".

That's the point I was making.

The Cas stadium saga is as long as our own. This is the third attempt to my knowledge and still not a brick laid. Good luck to them. We will continue to fight for ours.

What news is that TRB.

Move who a little closer, Trinity or Tigers

Cas. It's regarding the statement from their developers which was just a progress report and doesn't really say a great deal in confirming anything.

Have the trust seen the document yet that Peter Box referred to at the last Council meeting.

So funding isn't secured and they don't have tenants to start the build, Cas look to be in the exact same position we're in https://www.castlefordtigers.com/mobile ... hp?id=5425

So funding isn't secured and they don't have tenants to start the build, Cas look to be in the exact same position we're in https://www.castlefordtigers.com/mobile ... hp?id=5425

Quote ="Egg Banjo"So funding isn't secured and they don't have tenants to start the build, Cas look to be in the exact same position we're in https://www.castlefordtigers.com/mobile ... hp?id=5425'" You've probably taken the most negative slant possible on that statement. The main difference in the 2 projects is that Lateral have always been honest with the Cas fans and kept us informed directly. With apologies it seems that Yorkcourt haven't been quite so open with you.

Quote ="Egg Banjo"So funding isn't secured and they don't have tenants to start the build, Cas look to be in the exact same position we're in https://www.castlefordtigers.com/mobile ... hp?id=5425'" You've probably taken the most negative slant possible on that statement. The main difference in the 2 projects is that Lateral have always been honest with the Cas fans and kept us informed directly. With apologies it seems that Yorkcourt haven't been quite so open with you.

He may have taken the most negative slants on the stadium, but among the spin it is the 2 most important.

Despite what many have repeated over and over, funding is not yet secure for the development and probably won't won't be until they sign up more retailers.

It has always been the part of this plan I found the hardest to understand financially. In that you need someone willing to give away £10m up front (for a stadium) in the hope that the rest of the development is a success. The country is littered with half empty retail developments, if the developer had at least kept some stake in the stadium (even for a fixed time), it would have remained as an asset and helped them secure funding for the rest of the project. As it is, they are going to need alot of watertight agreements (in a fast changing retail world), to ensure a profit before they lay a brick.

It's not really a negative spin though is it even though you think it is. The conditions required for the five towns development are almost identical to those required by Newmarket. In so much as their needs to be some finances in place, and their needs to be some occupied commercial units. Neither development currently has the finances or has hit the required numbers/area to make make the stadium financially viable. I don't think the honesty of the companies involved even really needs to come into it, for all you know, Lateral my be feeding Cas complete tosh just like Yorkcourt did. The bottom line is that neither club are any closer to getting the stadiums they were promised

So you don't think the fact that they've outlined all the next ground works that are going ahead and the fact that they have already spent £10 million is relevant?
The fact remains they can't start renting any units out until the freehold of the stadium is handed over.

Maybe its my fault for assuming that you've seen earlier updates from Lateral but full funding is in place for the whole project and underwritten by a pension fund. Some on the nut job forum explain it much better than I can.

Maybe you need to read the statement from Lateral, which clearly states funding is not fully in place .....

"While we cannot make a start on construction until our leasing and funding agreements are fully in place, we are working hard to make sure that all of the other complex and technical hurdles, such as the pre-commencement planning conditions, are all cleared."

"Having regard to funding, whilst we did face uncertainty last year in the months pre and post the Brexit vote we have made substantial progress and we expect to complete the necessary funding agreement over the coming months."

This would suggest that funding is not currently in place and that they still have some way to go before funding is available, perhaps you've been misled about certain aspects as much as Wakey fans have

"We continue to make good progress with retailers who are interested in having a store at Five Towns Park. Legal commitments are in place, or serious and detailed discussions are ongoing, with a number of key tenants."

And here's the part which tells you that they don't have enough businesses on board yet to make the project viable

Dress it up however you want, that statement is not a positive one. The two biggest hurdles have not been met, which are finances and businesses willing to take tenancy on the site.

The fact remains, they won't start construction of the stadium until they have secured appropriate finance, and have enough tenants willing to rent out the units

Incorrect. The funding agreement with the pension fund has been discussed and is in place but cannot be formally agreed until the necessary planning conditions have been discharged (which are all currently awaiting being discharged now or already have - look on WMDC planning portal). This funding will underwrite the entire project.

They have 3 retailers already signed up for the site, and I'm sure they will have all the others ready to go too.

The retail element cannot open until the stadium is built and handed over to Cas Tigers. Unlike Newmarket, there isn't a need to build a certain amount of floorspace either before the stadium can be built. So they can build as much as retail as they like but none of it can open.

Retailers and funding are completely separate (see my message above). Everything Lateral have done and are doing can be found on WMDC planning portal, and all ties in with their statement.

Am I missing something? Some supporters clearly keep talking about the funding being in place and all sorted despite the latest update direct from Lateral which has been quoted several times, which at various times states the funding is not yet in placce

Eg "Having regard to funding, whilst we did face uncertainty last year in the months pre and post the Brexit vote we have made substantial progress and we expect to complete the necessary funding agreement over the coming months.

The statement says that while they are working on the funding they have carried on with other things (like discharging planning conditions) it does not indicate the 2 are linked. In fact it implies the direct opposite.

The pension fund is underwriting the development, not paying for it. Thats the retails job and from reading that statement there isn't enough of that yet.

Let's get this clear. Do we have money in the bank account, no.

They have been in talk with major funds about cross-funding the entire site up front. The company in charge of this is called Cushman and Wakefield. They have agreed with one major pension fund to fulfil this but it's reliant on necessary conditions being discharged before this can be rubber-stamped.

So the funding IS in place to an extent in that we have an agreement. But it will only be completed once the conditions (majority being discharged already) have been discharged. This is what Lateral refer to with the "funding agreement".

The conditions point I took from the letter that Cushman and Wakefield supplied to WMDC with the planning application in December when it was changed from a supermarket to retail.

The pension fund will "forward fund" the entire project - e.g. They will put up the cost to get it all built in the first place. I'm assuming that it will be Lateral's responsibility to recoup that through rental over the years and pay it back.