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AGM - Bad News On Stadium

By: Bill Osborne
Date: 19/12/2002

The AGM of Grimsby Town Football Club was held today with Jim Arnell not offering himself for re-election to the board. All other directors were re-elected on a show of hands.

Before the meeting was officially opened, Peter Furneaux, revealed that the club had been selected by the Football Association for review of its Articles of Association. As a result of that review, it was discovered that some Articles were not complied with and therefore the Board would be correcting this shortly. This would include selling the remaining shares and he hoped the shareholders would give the board their backing in this.

After the meeting closed the developer of the new stadium Gerald Knight gave a brief outline of where the project stood at the present time. There is a need for a major retail tenant for the site and because of the two years delay some prospects were lost.

Mr Knight declared that the new stadium project was not viable and they needed a variation on the land option to help them. The option currently expires in 2005. The option stipulates that the land must be bought within a year of planning permission being granted. It is obvious that cannot happen.

There is also a meeting with the council on January 13th to see if the club can be deemed a community asset, probably with the view of getting the council involved in the stadium as Hull council did, as the land costs were quoted at 5.6 million and the developer has to contribute 5.5 million too.

On January 17th the council will make its final decision on the planning application.

Billo says: It seems that in the short term, the new stadium is a dead duck unless Town get lucky. If that is the case, Blundell Park may have to be improved in the short term to gain a safety certificate unless the FA and the council treat us charitably.




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