Borley is paying £450k for the land

The agenda for the meeting only lists one item: the sale of the House of Sport land to director Steve Borley for £450,000, which will be used to write down the £1.2m the club owes Mr Borley as part of its stadium fit-out debts.

I thought he was paying £1.8

whats going on ?

http://www.walesonline.co.uk/footballna ... 5800751/2/

page 2

I'd imagine the rest of the value is writing off money he and his company are owed by the club?

The agenda for the meeting only lists one item: the sale of the House of Sport land to director Steve Borley for £450,000, which will be used to write down the £1.2m the club owes Mr Borley as part of its stadium fit-out debts.

I thought he was paying £1.8

whats going on ?

http://www.walesonline.co.uk/footballna ... 5800751/2/

page 2

This isn't the same as the hotel land though is it? Unless I've got it wrong Borley is taking over the building of the house of sport meaning it's another thing off the club's 'to do list' and as such one less expense.
He's buying the land and building the House of Sport and will get back whatever little money that makes. I think the club also have the option to buy it back at the market value in 12 months time or something like that.

Someone mentioned there was a deal with a large hotel company to purchase the other land, but I'm not sure how accurate that is.