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Asset of Community Value - Petition


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1 minute ago, Grandad said:

To be fair that's my reading of it.

 

The ownership of the stadium would still sit with the entity that is Sheffield 3 Limited. Therefore no change and no need to inform, and no moratorium.

Will add it to our list of questions to the council - might take a little while - but will endeavour to get a full answer. 

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7 hours ago, SWFC Trust said:

Our understanding is that there would be no underlying change to the freehold status, so there would be no need to notify the council as Sheffield 3 Limited would still be majority owner.

 

And even if this did kick in the ACV status it's ok because the moratorium period can be waived. It doesn't need to be exercised in every situation. In this instance, where shares in the asset might be sold to fans, we can imagine how that would be seen a positive move and the maratorium period waived.

 

For both these circumstances and others it's worth saying that this is our reading of the material. We've  learnt this stuff as best we can, and asked questions of the council to the best of our ability, but it is always possible to have missed something.

Thanks for this.

 

And thank you for replying. 


"The best poster on Owlstalk by far" - Kaven Walker

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1 minute ago, SWFC Trust said:

Will add it to our list of questions to the council - might take a little while - but will endeavour to get a full answer. 

Thank you. 

 

I think it's a fairly key question as if it's as I thought it would make the ACV application virtually pointless.

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"The best poster on Owlstalk by far" - Kaven Walker

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10 hours ago, SWFC Trust said:

Q&A - Asset of Community Value (ACV)

What is an ACV? It is simply a label given to something (usually a building) that is seen to have value to a local community (examples libraries, parks, or football grounds)

 

Who decides whether somewhere is an ACV? It is applied for by a community organisation (in this case the SWFC Supporters' Trust) and decided upon by the council. 

 

What happens if the Council say yes it is an ACV? There are various legal protections added to the site, perhaps the key one for Hillsborough is that status ensures the local community (Council and Trust) will be informed of any attempt to sell the asset by its owner.

 

What happens if the owner does want to sell Hillsborough? He/she can do so, but must let the Council know. The council can either say that the sale is fine, for example if it is being sold to someone who wants to continue using Hillsborough as a football stadium. They can also put a hold on the sale of up to six months (called a moratorium).

 

What happens if any sale is put on hold? Then the local community can decide whether it wants to bid for the stadium. There are various time frames related to this.

 

Is the aim of this process for the Trust or the community to buy the ground? No, it is very unlikely that the Trust or community would be able to raise the finance to buy the ground.

 

So, what is the point? There are several reasons, but two stand-out.

 

Transparency: An ACV means there must be openness from any owner of SWFC over the ownership of the ground. The council must be informed in advance of any potential sale, and in turn the Trust, local community and fanbase. The ACV has a symbolic status therefore of the importance of Hillsborough to fans and the community and means the asset is less likely to be lost to the local community. 

 

Community: The Trust hopes that there is a legacy from the ACV application in opening Hillsborough and it becoming a hub of the local community welcoming to local groups and projects throughout the week, rather than just available to fans at the weekend. 

 

Will this make SWFC less attractive to a new owner/investor? The ACV is not a barrier to the sale / new investment into Sheffield Wednesday football club.

What are the next steps? The Trust's members voted in favour of the Trust applying for, and aiming to secure, ACV status. The Trust began assembling its application in May by clarifying some points with the council. In making our bid, we aim to gain the support of the club, politicians, the local community, and fanbase. If anything shows to us in that process that the application is wrong for SWFC, the community or fanbase, then we will return to our members and ask again. We are convinced so far that it is a positive step for all involved.

 

How will the petition be used in your application?

The petition will be used in Section C of the application to show community support for the bid to have Hillsborough designated an Asset of Community Value.


 

Relies a lot on Sheffield City Council; which has to be a bad thing, unfortunately. 

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2 hours ago, Grandad said:

Thank you. 

 

I think it's a fairly key question as if it's as I thought it would make the ACV application virtually pointless.

Thought this from start, that it's a good Idea to protect clubs from owners "separating" the ground from the club but in our case horse has already bolted.

 

Look at other clubs that have ACV status and ground within the club don't think council notified if owner of club sells shares in club or indeed sells club. ,(By "club" above mean the limited company that is the club)

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Some of the above points may make the ACV pointless, but then again, may be absolutely vital in the future.  None of us really know what the future holds, so it would be better to have it than not in my opinion.  If it's pointless, then nothing was lost by the application.  

 

Also, with an  charge on Hillsborough requiring payback very shortly, this ACV could help as that wouldn't be Sheffield 3 Ltd changing hands, that could be a different entity owning the ground.  I've read only a little about ACVs, and they are not a tool where the community get first dibs, but every hurdle we place in front of Chansiri as he sprints us down to the very bottom, is a bonus.  It would also serve as a reminder to the Club that Hillsborough isn't just a place of work or a asset to be traded between suits, it's our home of 120+ years.  Probably the horse has already bolted, but better to fix the stable door in advance in case we can get the horse back.

 

It's the Sheffield community that funded the roof on the Kop.  It's the Liverpool community that lost 96 of their friends and family on our ground.   It's the Sheffield community over numerous generations that welcomed people from across the world to take part in World and European competitions on our soil.  

 

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I think the ACV is certainly worth pursuing - it insures transparency of dealings involving the ground and some form of protection, even if it means just dealing with the asset stripping process.

 

My question would be if DC defaults on the September loan, and the loan company New Avenue Projects Ltd, implement the charge and re-posses Hillsborough, would the ACV change anything? i.e. would NAP have to act as a landlord for the foreseeable future under the existing lease terms, until they disposal of the freehold investment?

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11 hours ago, SWFC Trust said:

 

Hello all,

 

Please a version of an update that went to our members yesterday. We would like people to consider signing our petition here in support of our application. Further details are below.

 

As always, I'll try and answer any questions as I can. 

 

Thanks and UTO 

 

......................................................................

 

You may remember that earlier in the year, the SWFC Supporters'Trust Interim Board balloted members on whether they wished us to pursue an application to have Hillsborough designated an Asset of Community Value (ACV). That ballot had been preceded by an online consultation on the issue, and saw 96.2% members vote in favour of the proposal based on a 51.3% turnout.

 

Progress Update

 

The Trust has been progressing the application for several weeks since the 20/21 season concluded speaking with local stakeholders and building a coalition of support for the bid behind the scenes. Our aim is to have the ACV bid submitted and accepted by Sheffield City Council in time for when the ‘charge’ is due on Hillsborough on the 30th September 2021. Advice from local councillors indicates that we will need to submit our application in the opening two weeks of July to achieve that aim.

 

How you can help?

 

The nomination form requires evidence that Hillsborough delivers social well-being to the local community of Hillsborough, and the wider region of the city of Sheffield.

 

One way you can help is to sign our petition, which will be submitted alongside the nomination form in July as evidence of community engagement and support for having Hillsborough designated as an ACV. You can access it via the hyperlink above or the link below:

 

https://www.swfctrust.co.uk/news/acv

 

Please share the petition far and wide on social media and with family and friends. The more signatories the better.

 

Second, you might write a testimonial as to the value of Hillsborough as a community asset and its impact on social well-being of Sheffield. You can use our petition as inspiration for what you might include, but it would be great if you gave the testimonial a personal edge. Examples might include writing about the emotions of attending football matches, telling us about the importance of Hillsborough in meeting with family and friends, and the memories you have made in the stadium that will last a lifetime.

 

Please email your testimonial to enquiries@swfctrust.co.uk and we will include it in our application as evidence of community support for the application. 

 

Your help will go a long way towards a successful bid to have Hillsborough designated an Asset of Community Value

 

What happens if Chancer dosnt make the loan repayment in September and the loan company take the stadium? 

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11 hours ago, SWFC Trust said:

Our understanding for this one is that the freehold would have to be registered under the new ownership meaning that the ACV would kick in and Sheffield 3 limited would have to notify the council.

If Sheffield 3 limited is the registered owner and with limited companies being separate legal entities from their owners why would the freehold have to be changed if there was s change in ownership of the holding company?

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Hello all, 

 

I've passed the various questions/comments since yesterday to our board member who's leading on it all. Working today, but we'll come back as soon as we can on it all. 

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Sounds a bit like the situation with Crystal Palace ( see Amazon Prime documentary) in 2010. 
my view is that it will down to the fans to save the club - just like Palace did 

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Guest Hornsby

Great Trust work.

 

Because of Covid and this if goes through,   the stadium should be revalued from its current £60 million price that S3 ltd paid.

 

Should have already been done so this firms accounts ,due 30 June , will be fascinating.

 

Could create a massive loss or breach lending covenant with that vulture fund.

 

We should all support Trust here.

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On 21/06/2021 at 21:41, Grandad said:

Q. If the stadium is owned by Sheffield 3 Ltd, and Sheffield 3 Ltd is sold to a new owner - does that mean they don't need to notify anybody?

 

As the ownership of the company is changing, not the ownership of the stadium

 

On 21/06/2021 at 22:06, SWFC Trust said:

Not yet .. Let me ask about these two. Will come back when I find out more. 

 

On 21/06/2021 at 22:39, pahowl said:

Wouldn't the Freehold remain under the ownership of Sheffield 3 Limited and therefore no need to notify? No change would be necessary at Land Registry.  Commercial properties are often sold within a corporate vehicle to minimise stamp duty charges and to allow any leases to remain without the need to amend,

 

On 22/06/2021 at 06:22, Grandad said:

To be fair that's my reading of it.

 

The ownership of the stadium would still sit with the entity that is Sheffield 3 Limited. Therefore no change and no need to inform, and no moratorium.

 

On 22/06/2021 at 10:11, wellbeaten-the-owl said:

If Sheffield 3 limited is the registered owner and with limited companies being separate legal entities from their owners why would the freehold have to be changed if there was s change in ownership of the holding company?

 

On 22/06/2021 at 10:56, SWFC Trust said:

Hello all, 

 

I've passed the various questions/comments since yesterday to our board member who's leading on it all. Working today, but we'll come back as soon as we can on it all. 

 

 

 

Any news on this? 

 

It's pretty key, given the answer makes the whole ACV thing potentially pointless?


"The best poster on Owlstalk by far" - Kaven Walker

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On 22/06/2021 at 10:56, SWFC Trust said:

Hello all, 

 

I've passed the various questions/comments since yesterday to our board member who's leading on it all. Working today, but we'll come back as soon as we can on it all. 


 

Good work 👍👍👍


 


Owlstalk Shop

 

 

 

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Guest Hornsby
7 minutes ago, Grandad said:

 

 

 

 

 

 

 

 

Any news on this? 

 

It's pretty key, given the answer makes the whole ACV thing potentially pointless?

ACV is vital to preserve our home.

 

Will also crash Sheffield 3 ltd, so club or a rich  Owl could by  stadium back cheap.

 

Or Red Bull etc for leverage like Bates tried with Owlerton stadium freehold to fox Allen.

 

North Stand should be grade 2 listed too.

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2 hours ago, Grandad said:

 

 

 

 

 

 

 

 

Any news on this? 

 

It's pretty key, given the answer makes the whole ACV thing potentially pointless?

I've not forgotten. No answer yet though (sorry) will come back as soon as I get something. 

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Guest Hornsby
10 hours ago, Inspector Lestrade said:

So basically the ground is sold six months later?

Who would pay £60 million for that?

 

Lot less, would also crash S3 ltd and call valuation into question.

 

Especially by tax agencies.

 

 

 

 

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