Kassam Stadium to stay community asset

Firoz Kassam

Firoz Kassam

First published in News

AN appeal launched by the owner of the Kassam Stadium into its protected status has been thrown out.

Firoz Kassam and his company Firoka took Oxford City Council’s decision to list the Grenoble Road stadium as a community asset to a tribunal at Oxford Magistrates’ Court last month.

But the appeal was rejected, it was announced yesterday.

The stadium was listed as a community asset in 2013 – believed to the first to be designated under the Localism Act 2011.

It means that if Mr Kassam wants to sell the stadium, he will have to inform supporters and give them six months so they can mount their own bid. Firoka had argued it would be inappropriate to designate the building and its car parks as a community asset.

But Judge Nicholas Warren said: “The cultural, recreational and sporting interests with which I am concerned extend wider than the hour and a half or so for which 20 to 30 men play a game of football.

“The existence of a home town club, intrinsically linked to the use of its home ground, fosters community pride, stimulates daily conversations in pubs, work places and online, forges friendships and encourages the mix of generations.”

Comments (8)

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8:43am Tue 13 May 14

yabbadabbadoo256 says...

technically the Manor Ground is and was Oxford's home ground so isn't that argument mute?

Personally I hope Kassam demands a "fair" market price for the asset he invested many millions in building that the club and fans are so determined to get off him for peanuts.

I can see him increasing the rent now - and good on him
technically the Manor Ground is and was Oxford's home ground so isn't that argument mute? Personally I hope Kassam demands a "fair" market price for the asset he invested many millions in building that the club and fans are so determined to get off him for peanuts. I can see him increasing the rent now - and good on him yabbadabbadoo256
  • Score: -9

9:26am Tue 13 May 14

GRB says...

yabbadabbadoo256 wrote:
technically the Manor Ground is and was Oxford's home ground so isn't that argument mute?

Personally I hope Kassam demands a "fair" market price for the asset he invested many millions in building that the club and fans are so determined to get off him for peanuts.

I can see him increasing the rent now - and good on him
I hope we pay a fair market price for the stadium because that will be about 250K considering how much the landlord has neglected it
[quote][p][bold]yabbadabbadoo256[/bold] wrote: technically the Manor Ground is and was Oxford's home ground so isn't that argument mute? Personally I hope Kassam demands a "fair" market price for the asset he invested many millions in building that the club and fans are so determined to get off him for peanuts. I can see him increasing the rent now - and good on him[/p][/quote]I hope we pay a fair market price for the stadium because that will be about 250K considering how much the landlord has neglected it GRB
  • Score: 8

12:42pm Tue 13 May 14

yabbadabbadoo256 says...

GRB wrote:
yabbadabbadoo256 wrote:
technically the Manor Ground is and was Oxford's home ground so isn't that argument mute?

Personally I hope Kassam demands a "fair" market price for the asset he invested many millions in building that the club and fans are so determined to get off him for peanuts.

I can see him increasing the rent now - and good on him
I hope we pay a fair market price for the stadium because that will be about 250K considering how much the landlord has neglected it
try £3.8 million (in 2007) so more like £5 million now with appreciation.
[quote][p][bold]GRB[/bold] wrote: [quote][p][bold]yabbadabbadoo256[/bold] wrote: technically the Manor Ground is and was Oxford's home ground so isn't that argument mute? Personally I hope Kassam demands a "fair" market price for the asset he invested many millions in building that the club and fans are so determined to get off him for peanuts. I can see him increasing the rent now - and good on him[/p][/quote]I hope we pay a fair market price for the stadium because that will be about 250K considering how much the landlord has neglected it[/p][/quote]try £3.8 million (in 2007) so more like £5 million now with appreciation. yabbadabbadoo256
  • Score: 1

1:17pm Tue 13 May 14

Andrew:Oxford says...

yabbadabbadoo256 wrote:
technically the Manor Ground is and was Oxford's home ground so isn't that argument mute?

Personally I hope Kassam demands a "fair" market price for the asset he invested many millions in building that the club and fans are so determined to get off him for peanuts.

I can see him increasing the rent now - and good on him
If there is a loan secured on the stadium, then clearly the rent will now rise at the next review.

This is simply because now that it is confirmed as an "asset of community value", in accordance with most commercial loan documentation, this triggers a "material change" in status of the security. It makes the stadium more difficult to sell in a distress situation. This makes the loan riskier and as such the interest rate charged will rise by the lender's risk premium (probably someway between 150 & 225 basis points).

Essentially, for every £1M of loan outstanding expect to pay an additional £20K in annual rent going forward.

Action:Consequence
[quote][p][bold]yabbadabbadoo256[/bold] wrote: technically the Manor Ground is and was Oxford's home ground so isn't that argument mute? Personally I hope Kassam demands a "fair" market price for the asset he invested many millions in building that the club and fans are so determined to get off him for peanuts. I can see him increasing the rent now - and good on him[/p][/quote]If there is a loan secured on the stadium, then clearly the rent will now rise at the next review. This is simply because now that it is confirmed as an "asset of community value", in accordance with most commercial loan documentation, this triggers a "material change" in status of the security. It makes the stadium more difficult to sell in a distress situation. This makes the loan riskier and as such the interest rate charged will rise by the lender's risk premium (probably someway between 150 & 225 basis points). Essentially, for every £1M of loan outstanding expect to pay an additional £20K in annual rent going forward. Action:Consequence Andrew:Oxford
  • Score: 1

1:57pm Tue 13 May 14

yabbadabbadoo256 says...

Andrew:Oxford wrote:
yabbadabbadoo256 wrote:
technically the Manor Ground is and was Oxford's home ground so isn't that argument mute?

Personally I hope Kassam demands a "fair" market price for the asset he invested many millions in building that the club and fans are so determined to get off him for peanuts.

I can see him increasing the rent now - and good on him
If there is a loan secured on the stadium, then clearly the rent will now rise at the next review.

This is simply because now that it is confirmed as an "asset of community value", in accordance with most commercial loan documentation, this triggers a "material change" in status of the security. It makes the stadium more difficult to sell in a distress situation. This makes the loan riskier and as such the interest rate charged will rise by the lender's risk premium (probably someway between 150 & 225 basis points).

Essentially, for every £1M of loan outstanding expect to pay an additional £20K in annual rent going forward.

Action:Consequence
Like I keep saying... I can see Admin coming for Oxford Utd sooner rather than later
[quote][p][bold]Andrew:Oxford[/bold] wrote: [quote][p][bold]yabbadabbadoo256[/bold] wrote: technically the Manor Ground is and was Oxford's home ground so isn't that argument mute? Personally I hope Kassam demands a "fair" market price for the asset he invested many millions in building that the club and fans are so determined to get off him for peanuts. I can see him increasing the rent now - and good on him[/p][/quote]If there is a loan secured on the stadium, then clearly the rent will now rise at the next review. This is simply because now that it is confirmed as an "asset of community value", in accordance with most commercial loan documentation, this triggers a "material change" in status of the security. It makes the stadium more difficult to sell in a distress situation. This makes the loan riskier and as such the interest rate charged will rise by the lender's risk premium (probably someway between 150 & 225 basis points). Essentially, for every £1M of loan outstanding expect to pay an additional £20K in annual rent going forward. Action:Consequence[/p][/quote]Like I keep saying... I can see Admin coming for Oxford Utd sooner rather than later yabbadabbadoo256
  • Score: -2

4:18pm Tue 13 May 14

GRB says...

yabbadabbadoo256 wrote:
Andrew:Oxford wrote:
yabbadabbadoo256 wrote:
technically the Manor Ground is and was Oxford's home ground so isn't that argument mute?

Personally I hope Kassam demands a "fair" market price for the asset he invested many millions in building that the club and fans are so determined to get off him for peanuts.

I can see him increasing the rent now - and good on him
If there is a loan secured on the stadium, then clearly the rent will now rise at the next review.

This is simply because now that it is confirmed as an "asset of community value", in accordance with most commercial loan documentation, this triggers a "material change" in status of the security. It makes the stadium more difficult to sell in a distress situation. This makes the loan riskier and as such the interest rate charged will rise by the lender's risk premium (probably someway between 150 & 225 basis points).

Essentially, for every £1M of loan outstanding expect to pay an additional £20K in annual rent going forward.

Action:Consequence
Like I keep saying... I can see Admin coming for Oxford Utd sooner rather than later
Clearly a Scummer with too much time on your hands
[quote][p][bold]yabbadabbadoo256[/bold] wrote: [quote][p][bold]Andrew:Oxford[/bold] wrote: [quote][p][bold]yabbadabbadoo256[/bold] wrote: technically the Manor Ground is and was Oxford's home ground so isn't that argument mute? Personally I hope Kassam demands a "fair" market price for the asset he invested many millions in building that the club and fans are so determined to get off him for peanuts. I can see him increasing the rent now - and good on him[/p][/quote]If there is a loan secured on the stadium, then clearly the rent will now rise at the next review. This is simply because now that it is confirmed as an "asset of community value", in accordance with most commercial loan documentation, this triggers a "material change" in status of the security. It makes the stadium more difficult to sell in a distress situation. This makes the loan riskier and as such the interest rate charged will rise by the lender's risk premium (probably someway between 150 & 225 basis points). Essentially, for every £1M of loan outstanding expect to pay an additional £20K in annual rent going forward. Action:Consequence[/p][/quote]Like I keep saying... I can see Admin coming for Oxford Utd sooner rather than later[/p][/quote]Clearly a Scummer with too much time on your hands GRB
  • Score: 4

4:36pm Tue 13 May 14

yabbadabbadoo256 says...

GRB wrote:
yabbadabbadoo256 wrote:
Andrew:Oxford wrote:
yabbadabbadoo256 wrote:
technically the Manor Ground is and was Oxford's home ground so isn't that argument mute?

Personally I hope Kassam demands a "fair" market price for the asset he invested many millions in building that the club and fans are so determined to get off him for peanuts.

I can see him increasing the rent now - and good on him
If there is a loan secured on the stadium, then clearly the rent will now rise at the next review.

This is simply because now that it is confirmed as an "asset of community value", in accordance with most commercial loan documentation, this triggers a "material change" in status of the security. It makes the stadium more difficult to sell in a distress situation. This makes the loan riskier and as such the interest rate charged will rise by the lender's risk premium (probably someway between 150 & 225 basis points).

Essentially, for every £1M of loan outstanding expect to pay an additional £20K in annual rent going forward.

Action:Consequence
Like I keep saying... I can see Admin coming for Oxford Utd sooner rather than later
Clearly a Scummer with too much time on your hands
no a realist.
[quote][p][bold]GRB[/bold] wrote: [quote][p][bold]yabbadabbadoo256[/bold] wrote: [quote][p][bold]Andrew:Oxford[/bold] wrote: [quote][p][bold]yabbadabbadoo256[/bold] wrote: technically the Manor Ground is and was Oxford's home ground so isn't that argument mute? Personally I hope Kassam demands a "fair" market price for the asset he invested many millions in building that the club and fans are so determined to get off him for peanuts. I can see him increasing the rent now - and good on him[/p][/quote]If there is a loan secured on the stadium, then clearly the rent will now rise at the next review. This is simply because now that it is confirmed as an "asset of community value", in accordance with most commercial loan documentation, this triggers a "material change" in status of the security. It makes the stadium more difficult to sell in a distress situation. This makes the loan riskier and as such the interest rate charged will rise by the lender's risk premium (probably someway between 150 & 225 basis points). Essentially, for every £1M of loan outstanding expect to pay an additional £20K in annual rent going forward. Action:Consequence[/p][/quote]Like I keep saying... I can see Admin coming for Oxford Utd sooner rather than later[/p][/quote]Clearly a Scummer with too much time on your hands[/p][/quote]no a realist. yabbadabbadoo256
  • Score: 1

6:58am Wed 14 May 14

Oxokuba says...

yabbadabbadoo256 wrote:
Andrew:Oxford wrote:
yabbadabbadoo256 wrote:
technically the Manor Ground is and was Oxford's home ground so isn't that argument mute?

Personally I hope Kassam demands a "fair" market price for the asset he invested many millions in building that the club and fans are so determined to get off him for peanuts.

I can see him increasing the rent now - and good on him
If there is a loan secured on the stadium, then clearly the rent will now rise at the next review.

This is simply because now that it is confirmed as an "asset of community value", in accordance with most commercial loan documentation, this triggers a "material change" in status of the security. It makes the stadium more difficult to sell in a distress situation. This makes the loan riskier and as such the interest rate charged will rise by the lender's risk premium (probably someway between 150 & 225 basis points).

Essentially, for every £1M of loan outstanding expect to pay an additional £20K in annual rent going forward.

Action:Consequence
Like I keep saying... I can see Admin coming for Oxford Utd sooner rather than later
I can see a swindon troll - I just followed the slug trail....
[quote][p][bold]yabbadabbadoo256[/bold] wrote: [quote][p][bold]Andrew:Oxford[/bold] wrote: [quote][p][bold]yabbadabbadoo256[/bold] wrote: technically the Manor Ground is and was Oxford's home ground so isn't that argument mute? Personally I hope Kassam demands a "fair" market price for the asset he invested many millions in building that the club and fans are so determined to get off him for peanuts. I can see him increasing the rent now - and good on him[/p][/quote]If there is a loan secured on the stadium, then clearly the rent will now rise at the next review. This is simply because now that it is confirmed as an "asset of community value", in accordance with most commercial loan documentation, this triggers a "material change" in status of the security. It makes the stadium more difficult to sell in a distress situation. This makes the loan riskier and as such the interest rate charged will rise by the lender's risk premium (probably someway between 150 & 225 basis points). Essentially, for every £1M of loan outstanding expect to pay an additional £20K in annual rent going forward. Action:Consequence[/p][/quote]Like I keep saying... I can see Admin coming for Oxford Utd sooner rather than later[/p][/quote]I can see a swindon troll - I just followed the slug trail.... Oxokuba
  • Score: 2

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