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The Stadium Trust


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As many will recall the asset comprising the long lease of our stadium and surrounding land was transferred from the ownership of the club to a charitable trust a number of years ago. The principal motivation at the time was to relieve the club of the crippling burden of servicing almost three million pounds worth of debt on an annual turnover of about a third of that amount.

The majority of those associated with the club regarded the loss of this valuable asset as a necessary evil at the time. If the debt had remained the responsibility of the club then  the consequences were going to include reverting to part time football or worse.

However, things have moved on since then and, without being complacent about our current SPL status, the club is now in much more robust financial health with an income stream that would now allow us to service such a level of debt without too much stress on the finances especially with interest rates on the way down again.

It seems to me that there might now be merit in ownership of the rights under the lease being transferred back to the club so that the club can seek to exploit any development opportunities directly as well as beefing up the balance sheet.

What do others think ?

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I would like to see the Tulloch Stadium raised to the ground and an Asda store installed in its place...

A new stadium in the Bughts park area to tie in with the proposed city by-pass would be a much better option....

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I would like to see the Tulloch Stadium raised to the ground and an Asda store installed in its place...

A new stadium in the Bughts park area to tie in with the proposed city by-pass would be a much better option....

Isn't going to happen. That area of the Longman isn't allocated for supermarket in the City Plan; there isn't the infrastructure around the Bught to cope with a stadium suitable for us; and Asda are now concentrating their efforts on acquiring a site across the river from the Bught.

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I would like to see the Tulloch Stadium raised to the ground and an Asda store installed in its place...

A new stadium in the Bughts park area to tie in with the proposed city by-pass would be a much better option....

Isn't going to happen. That area of the Longman isn't allocated for supermarket in the City Plan; there isn't the infrastructure around the Bught to cope with a stadium suitable for us; and Asda are now concentrating their efforts on acquiring a site across the river from the Bught.

the city plan however is not cast in stone and allowances are often made which may deviate slightly from the city plan.

i for one would love to see a new stadium where johnboy suggested however somehting like that would not be viable for at least 5-10 years when the new tunnel/bridge/road over the canal and river is finished, by then we should have had a couple of European runs and raised substantial income for a new stadium.  :tic01:

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I would like to see the Tulloch Stadium raised to the ground and an Asda store installed in its place...

A new stadium in the Bughts park area to tie in with the proposed city by-pass would be a much better option....

Believe it or not that was one of my first prophecies - just after the Aquifer one.

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I would like to see the Tulloch Stadium raised to the ground and an Asda store installed in its place...

A new stadium in the Bughts park area to tie in with the proposed city by-pass would be a much better option....

Isn't going to happen. That area of the Longman isn't allocated for supermarket in the City Plan; there isn't the infrastructure around the Bught to cope with a stadium suitable for us; and Asda are now concentrating their efforts on acquiring a site across the river from the Bught.

the city plan however is not cast in stone and allowances are often made which may deviate slightly from the city plan.

True, but there is no overwhelming reason why this, quite considerable, change should be made.

I'd be opposed to building a stadium in the Bught. It is a irreplaceable green space that brings benefits to Invernessians of all ages. Planting a ground into the middle of it would ruin this. Thankfully, it was a non-starter in 1995 and is a non-starter now.

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Without knowing the full details of the trust and it's current financial situation it is hard to determine whether it would be financially prudent or indeed of any actual benefit for us to have the stadium ownership passed back to the club.

The Stadium is under the stewardship of people who have proven themselves open, honest and trustworthy in terms of dealings with the club and the status of the trust offers certain financial concessions which make it extremely beneficial as a means of servicing the debt.

I'm sure that should the need/opportunity present itself for TCS to be moved to a more desirable location then the club would face no problems whatsoever in dealing with the trust on the matter.

I am very much of the opinion that the Stadium will indeed move in the next 5 years or so, or plans will at least be in place for the move.  I am also very much of the opinion that the completion of the bypass will determine it's location, although I feel that it may find itself on the other side of the canal, perhaps around the location of the old quarry at the other side of Torvean Golf Course.

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I would like to see the Tulloch Stadium raised to the ground and an Asda store installed in its place...

A new stadium in the Bughts park area to tie in with the proposed city by-pass would be a much better option....

Isn't going to happen. That area of the Longman isn't allocated for supermarket in the City Plan; there isn't the infrastructure around the Bught to cope with a stadium suitable for us; and Asda are now concentrating their efforts on acquiring a site across the river from the Bught.

the city plan however is not cast in stone and allowances are often made which may deviate slightly from the city plan.

True, but there is no overwhelming reason why this, quite considerable, change should be made.

I'd be opposed to building a stadium in the Bught. It is a irreplaceable green space that brings benefits to Invernessians of all ages. Planting a ground into the middle of it would ruin this. Thankfully, it was a non-starter in 1995 and is a non-starter now.

fair enough, i take your point. when it comes down to it our club is growing and will (hopefully) eventually either outgrow its current home or become overly constrained by limitations on development at TCS therefore sites like the bught will always come in for consideration.

when i said i agreed with the bught as a potential location i should of specified that i think the canal pitches would be an ideal location for future development whether that is classed as the bught i'm not sure. i believe that a community focused stadium like what aberdeen are currently proposing where many amenities are provided would be a huge asset to the city.

Without knowing the full details of the trust and it's current financial situation it is hard to determine whether it would be financially prudent or indeed of any actual benefit for us to have the stadium ownership passed back to the club.

The Stadium is under the stewardship of people who have proven themselves open, honest and trustworthy in terms of dealings with the club and the status of the trust offers certain financial concessions which make it extremely beneficial as a means of servicing the debt.

I'm sure that should the need/opportunity present itself for TCS to be moved to a more desirable location then the club would face no problems whatsoever in dealing with the trust on the matter.

I am very much of the opinion that the Stadium will indeed move in the next 5 years or so, or plans will at least be in place for the move.  I am also very much of the opinion that the completion of the bypass will determine it's location, although I feel that it may find itself on the other side of the canal, perhaps around the location of the old quarry at the other side of Torvean Golf Course.

i concur

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I've only been in Inverness for a few short years, but whoever came up with the idea of installing ICT's stadium in just about the most god forsaken hole it would be possible to find around the city, should have his/her head examined. This was obviously someone who quite clearly had no respect for the people of Inverness, and no respect for football lovers anywhere in Scotland....

Most football stadia throughout Scotland are, and should be, a major part of a town/city's community - local shops, pubs, restaurants, etc are surely entitled to derive some benefit from visiting supporters....

That doesn't seem to be too much in evidence around these parts.... There already is a stadium inside Bughts Park that successfully staged the shinty cup final during the summer....

Couldn't that be expanded to become ICT's home and yet still be used for major shinty fixtures...?

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Just wondered- does anybody have an emotional attachment to TCS- how would you feel if we moved?

It's seen some amount of drama in the 11 years its been there. I would start to list some but I've got the tea to make  :015:

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it's my understanding that the debt is still all there and someone is paying the interest one it though i know not who....

the stadium sits on a prime piece of land and the stadium trust was not set up out of altruism....

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Not these days Jboy.  Stadiums on the outskirts are popping up, easy access for away fans as well. I think it's fine where it is.  Try getting seven thousand people in and out of the stadium if it were in the town centre and there would be chaos.  

Falkirks new stadium is in the middle of nowhere, but it's easy to access by vehicle.

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Just wondered- does anybody have an emotional attachment to TCS- how would you feel if we moved?

It's seen some amount of drama in the 11 years its been there. I would start to list some but I've got the tea to make  :015:

Thats something nobody ever talks about when this thread cycles around.  Personally I like our stadium and emotionally would only be happy if it moved back to the side of the river its supposed to be on, of course if the figures were laid out to me in black and white in favor of a move elsewhere then I suppose itd be difficult to say no.

Certainly the day we do leave will be emotional, maybe not as the first stadium move but we've all seen some moments at the CS, there will come a day when coming out of Harbour Road will not be greeted with the floodlights on the other side of the A9 and a string of freezing cold punters shuffling as fast as they can to get out of the wind.

Actually saying that, in summer the setting is beautiful, lounging around with the feet up at pre-season games in the main stand are among the highlights of the season, doubt youll ever see a sunset of any kind over the quarry.  :015:

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I'd be opposed to building a stadium in the Bught. It is a irreplaceable green space that brings benefits to Invernessians of all ages. Planting a ground into the middle of it would ruin this. Thankfully, it was a non-starter in 1995 and is a non-starter now.

What benefits would that be exactly? The annual bonfire and fireworks?

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I think our attendances would be increased if the stadium were to be moved. I know a number of ppl will not go because of the location and the cold that generates. Its not "part of a community" where it is

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it's my understanding that the debt is still all there and someone is paying the interest one it though i know not who....

the stadium sits on a prime piece of land and the stadium trust was not set up out of altruism....

The debt is serviced from the rent that they receive from the club and underwritten by Tulloch (possibly even DS himself) and a few others who make up the board of trustees.  What I don't know is whether the rent is equal to interest payments only or if it is sufficient to have made any dent in it over the years.

As I said above, it would also depend very much on the nature of the Trust agreement and their "ownership" of the lease/stadium.  There's a 100's of permutations on the types of trusts and the conditions that are contained therein.  It is possible that the club would have to pay full market value for the buy-back regardless of the level of the debt - clauses could exist saying that they receive discount based on length of tenancy...or it could be some form of revertible trust which automatically sees it all pass back into the hands of the club at some future date!!!

Although I agree that the trust was not set up purely out of altruism it has served us well, as have those who were involved, so until that changes I see no need to change the way things stand.

Just wondered- does anybody have an emotional attachment to TCS- how would you feel if we moved?

It's seen some amount of drama in the 11 years its been there. I would start to list some but I've got the tea to make  :015:

In this day of mechanno stadiums when you've been to one you've been to them all, so I don't think I would say that I had any strong emotional or spiritual attachment to TCS.  That "Special" Stadium for me will always be Telford Street.

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I'd be opposed to building a stadium in the Bught. It is a irreplaceable green space that brings benefits to Invernessians of all ages. Planting a ground into the middle of it would ruin this. Thankfully, it was a non-starter in 1995 and is a non-starter now.

What benefits would that be exactly? The annual bonfire and fireworks?

The quality of life benefits that come with peaceful green space. As well as events like the fireworks and the shows, it provides an environment for dog walking and jogging, Whin Park is used by many young families, and there's the football, rugby, and shinty pitches. All of these would be adversely affected by the infrastructure we would require.

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My attachment is not emotional, but instead takes the form of a named brick. For that reason ICT should stay at TCS forever and ever, amen. Or until my brick falls off.

(I said Brick!)

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One problem that I personally have with the Stadium Trust is that it's workings are opaque to say the least.

A bit more openess might go a long way to alleviating concerns although I do agre with Caley D  that the trustees are individuals who have demonstrated goodwill to the club in the past.

From my own point of view, I have not developed any sort of emotional attachment to the concrete and steel that form our windswept lop sided stadium.

The only football venue left in town with any sort of character is Grant Street.

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Guest TinCanFan

My attachment is not emotional, but instead takes the form of a named brick. For that reason ICT should stay at TCS forever and ever, amen. Or until my brick falls off.

(I said Brick!)

They might take down the wall and put it up at the new ground.

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