NTFC: A cause for concern

This has been going on for a very long time. If you look at their fans forum they have a redevelopment thread which started on 30th May 2012 and has always been in the top 2 or 3 threads recently replied to, currently sits at 1127 pages long (22531 replies)!
 
This isn't "new" news is it? I'd previously assumed it would stop Northampton being promoted the last time they went up as the council would be calling the debt in, presumably there are some skeletons in the cupboard at the council preventing them from simply calling in the lawyers...
 
If the money was loaned to Northampton Town, surely the debt is their liability? The council can pursue the former owners all they like, but recovering £3 million from them (if they are successful, which I suspect they won't be) hardly makes a dent in the total debt.
 
Not unless the debt was transferred to the new operating company, I would have thought.
 
It is a tangled web of company ownership, psuedo-ownership, back-handers, political party donations, money in and out of construction companies, companies being wound up and uncompleted work. The Council are stuck between a rock and a hard place - who is going to vote for the councilor who votes to put their local football club into liquidation.
For those who have an hour or so to spare, the BBC have been all over this for 4 years,

https://www.bbc.co.uk/news/uk-england-northamptonshire-36342097
 
cherryexile said:
It is a tangled web of company ownership, psuedo-ownership, back-handers, political party donations, money in and out of construction companies, companies being wound up and uncompleted work. The Council are stuck between a rock and a hard place - who is going to vote for the councilor who votes to put their local football club into liquidation.
For those who have an hour or so to spare, the BBC have been all over this for 4 years,

https://www.bbc.co.uk/news/uk-england-northamptonshire-36342097
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If this had been a bank that had lent money which disappeared I have no doubt Northampton would have been in a lot more trouble.
 
Why would anyone, or any company, release such funds up front? In most forms of development the monies are released in stages, subject to valuation, based upon the percentage of total cost which has been incurred.
 
berksimps said:
Why would anyone, or any company, release such funds up front? In most forms of development the monies are released in stages, subject to valuation, based upon the percentage of total cost which has been incurred.
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Well if my dealings over the years when it comes to anything to do with councils, government or local government are anything to go by then the major words that spring to mind are inept, useless, clueless and inefficient. so no I'm not surprised that they would do this!
 
Casperimp said:
Well if my dealings over the years when it comes to anything to do with councils, government or local government are anything to go by then the major words that spring to mind are inept, useless, clueless and inefficient. so no I'm not surprised that they would do this!
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I think the word you are looking for in this case is "corrupt"
 
Spilsby52 said:
County council have gone bust, Town Council look like they are trying to.
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My bad thought the money was from the county council not town.
I do agree with others though this one still has a long way to go and we haven't heard the last of it either.
 
Casperimp said:
Well if my dealings over the years when it comes to anything to do with councils, government or local government are anything to go by then the major words that spring to mind are inept, useless, clueless and inefficient. so no I'm not surprised that they would do this!
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Just wondering what your dealings with councils involve after that. Please substantiate.
 
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