Ownership of ICT stands

[caley100]

Taken from front page of todays Invss Courier:

Inverness firm bought over by management buyout.... Tulloch const taken over by Tom Allison,George Fraser(ex ICT Chairman) and Sandy Grant.

' Ownership of three stands at ICT will be transferred to a trust' 

What 3 stands do Tulloch own?  cant be the main stand so I presume they mean North, South and the wee West stand?

What trust will this be?

[IMMORTAL HOWDEN ENDER]

The Rangers Supporters Trust ?

[brianm6261]

From afar ( France )  the running of ICT seems to be in good hands so whatever move this is I would trust the Trusr

[Ronaldo]

Just the two new stands and we pay for them I think

[CaleyD]

I bought them along with the stadium naming rights for £1 last year.

 

You're all gonna love the Big Don Dome once I win the lottery and can afford to build it.

[Alex MacLeod]

If memory serves correct Tulloch are the trustee's of the trust that took over the stadium debt. I believe the club pay rental to the trust. I wonder if the security on the debt was limited to the three stands only and not the ground or west terrace.

[Charles Bannerman]

Ownership of the various properties at the Caledonian Stadium always reminds me of Winston Churchill's view of the Soviet Union - "a riddle wrapped in a mystery inside an enigma."

Nowadays I tend to take the view that in 2000 over £2 million of debt disappeared (along with ICT's title to the stadium and its site lease) and five years later two rented stands materialised which made possible the playing of SPL football in Inverness so I tend just to say "thank you very much."

It effectively means that, as long as the club keeps its books reasonably well in balance on a year by year basis - albeit with some dependence on windfalls like the Mckay transfer - then things look reasonably stable.

 

It's a scenario which should act as a good object lesson lot for the people who come on here and moan that the board aren't being adventurous enough on the transfer market!

Edited March 9, 2015 by Charles Bannerman