But you have changed one word and it is an important word.

"After several months of discussions we are now in negotiations with a major Pension Fund, for them to forward fund
the entire project cost and I am confident we will be exchanging a funding transaction by the calendar year end.
However, there are a number of Conditions Precedent within the commercial terms which need to be discharged prior
to completion of the funding agreement."

It is not planning conditions that need to be discharged, it is commercial conditions and these could be any number of things (from quite minor to huge issues) none of which are on the planning portal.

Nowt much changes with you fully does it, just like when Glasshoughton was on the go it just rolls off yer tongue

Maybe so - but I expect that the conditions will largely relate to being that they secure the relevant planning permissions and discharge the conditions needed to get the site built.

Just relaying what's in the planning applications, Dickie, and what's in the statement.

I'm repeating nothing that isn't already in the public domain. Everything I've said can be backed up from the planning portal on WMDC's site, or via Lateral's own statement today. There's no spin, no secret information behind the scenes unlike last time, where I'll hold my hands up and say that I was naive and led down a garden path and peed off a few people on here in the process. I'll hold my hands up to that. Just what's in front of me in black and white

We all know that things can change and that hurdles will always have to be overcome. And no one will believe it until we see the roof going on, the pitch laid and the stands being built. We've both had too many false dawns.

Probably not. Developers are generally looking a short term profit while a pension fund will be looking to own a secure asset which generates income in the long term, which is why they will want to know they are not buying an empty retail park that no retailers want to move into.

It's a possibility but until they get enough companies signed up then they wouldn't be able to do that. Hence it won't even start until more are signed up or they will end up losing money.

Wasn't everything in black and white then, 2 Wakey fans on here have got you on the back foot already with your quotes, maybe you'd be better off as with GH, waiting till the concrete's getting poured, good luck anyway.

Poundland, Poundworld and Pound Shop?

I heard it was 98p land that was first to the table

There is a need for them to build a certain amount though, and that need is to ensure long term financial viability of the complex. They won't build units until they have tenants locked into long term contracts to fill those units. And if they don't have enough tenants to fill the units then they're not going to start building a stadium.

It might not say an exact sq.m in the planning, but don't be deluded into thinking that they don't have a minimum sq.m they need to reach before they consider laying a brick. That minimum sq.m for the five towns park will be all 8 retail units. When they've got all 8 units locked down with retailers, they will build, but there's no chance they will consider building until they have ALL of the units let

Actually after they lost the major supermarket, they changed planning and broke that space into smaller units. The current number is about 18 of which they announced tenants for 3 (assuming those 3 still are still signed up now that the major anchor unit is no more - in that most retails parks have one major unit to draw foot traffic)

You would of thought he would of learnt from the Glasshoughton fiasco. Just repeating and spinning the official line won't increase the chances of it been built but it might make him feel better. From the experiences of Glasshoughton and Newmarket its certainly safe to assume any delay is usually bad news, especially when people start spinning. What ever happened to Dickie Wright?

For me as a Cas fan the update today is slightly disappointing and the comments about funding and retailers is concerning. But on the flip side Lateral have already poured a lot of money into the project and do provide updates and there does appear to be a strong will to get get the 5 towns project done. For me personally I feel more optimistic about a new stadium than I have ever done but won't fully believe it until I'm sat in the damn thing!

I understand some posters on here pulling this latest statement apart but can you show me the last the time Yorkcourt provided an update of any kind? It's been 5 years since planning permission was passed for Newmarket and other than we can't tell you what's going on yet statements being issued every now and then I can't recall a single report of this kind from Yorkcourt.

im totally peed off with all the stadium bickering and sniping that's gone on for the last few years and would love nothing more than both our clubs being in new stadia and fighting out at the top end of super league for silverware and ALL the talk being about the rugby on the field and nothing else.

Couldn't agree more mate

This thread has nothing to do with Yorkcourt everybody and their dog on here knows all about them and their misgivings, it's about the alleged new stadium at Castleford which despite the brave efforts of a few Cas fans who have come on here desperately trying to convince us Wakey fans that everything is on track, and the same posters having to back track at every turn when the Wakey posters pull to bits their attempt at trying to assure us everything is going to plan when it clearly isn't, as for Fully, he'll believe anything they tell him.

The major issue for the 5 Towns project, is the massive tax liability created by the gifting of the stadium to Cas.

They keep trying to bill it as a community stadium to avoid this, but it's a gift, or payoff for a planning break, to a private, for profit company and someone will have a massive tax bill to pay.

Until that is resolved, nothing's getting built.

Can someone explain to a thicko how things stand with the Cas ground? Cas fans have suggested for a long time that the ground would be built without units being taken up, this never rang true with me, we then get a pension fund suggesting they'll pay up front, non of this seems right.
So please someone in lay mans terms will you please explain it to us/me?

The S106 states that no retail units can be occupied before the stadium is ready to stage a superleague match. These units can be built at the same time albeit with a slightly staggered start time. Ultimately they will both both ready around the same time despite what some rather naive cas fans might want to believe, it's just that you'll be able to go to a game on the site a couple of weeks before you can buy a nice pair of slacks. Lateral have a funding agreement with a pension investment fund to forward fund the development but for Lateral to start building they have to know that enough units will be occupied and paying rent in order to be able to pay the pension fund back what it owes, otherwise they'll lose money. Hence until the contracts are signed they won't start building anything. If/when they are then it will be all systems go but they aren't at that point yet.

Cheers SC, I assumed it was something along those lines.

Keep up thicko its not really that difficult

Why is there a thread about Cas Tigers stadium on the Wakey forum, or are we competing with the the Wakey stadium thread on the Cas forum?.

I think we're exploring the link, or common denominator that is...Box and Wakey council ?

Exactly

I guess this thread gets traction on the Wakey forum because anyone who tries to post any questions on the cas forum gets banned!

The latest statement from Lateral makes it clear that securing the funding Iis dependent on various commerciall conditions being sorted (nothing to do with planning, the outline planning permission has been approved as it has for the YC development, but neither have yet submitted the plans for a stadium which also need approval)

Worst case for Cas is that the developer is now saying that donating £10m to build a stadium under a S106 agreement means they cannot make a profit (under legislation introduced by the coalition government, an authority must consider this and legally reduce or remove the S106 payment (as happened recently with a Fred Done development in Salford)).

A fixation and belief in planning applications (as some sort of proof it has to happen) does not help in my view - eg outline planning for a non food retailer was included in the outline plans for the Salford Stadium (9 years ago), 2 years ago a specific detailed application was submitted for an IKEA and was passed, yet nothing has happened since.

Best case is that the commercial conditions are a set number of retails units to be let before the funding is confirmed or that Wakefield Council provide financial guarantees and then funding will be secured and only then will building start.

As a RL fan I hope both teams get a new stadium to call home, but I do fear some Cas fans are reading what they want to read rather than what is there. Wakey fans have read it all before and will believe it when they are standing in it!

Keep it classy!