Quote ="Digby"Have I missed something? The stadium cost 44 million to build, 42 million of this put forward by HCC. Where has 53 million come from?
And the money was provided by the sale of HCC's holdings in Kingston Communication's. If HCC sells of it's properties, buildings or assets, the gain is ring-fenced to re-investment in build, not settling debt, and HCC is not in debt, by the way. It is incurring 80 million pounds worth of cut-backs because Central Government got it wrong, very wrong.'"
The overall cost of the whole stadium project was £53m.
Whilst you're correct in what you said about cash being ring fenced, they would still be better off leaving the proceeds in the bank and using the interest gained as income, because like i said they currently get nothing in way of a return on the KC.