10 year timeframe for the new Waikato greenfields...

[curious]

 

[Special Agent]

It must be exciting to have a blank canvas but, scary considering bridging finance until Avondale is sold.

[Shab]

Real state agents, lawyers and bankers involved must love these clowns.

[Chief Stipe]

5 hours ago, Shab said:

Real state agents, lawyers and bankers involved must love these clowns.

Why?  Surely you are not suggesting this transaction is done without then?

[hesi]

1 hour ago, Chief Stipe said:

Why?  Surely you are not suggesting this transaction is done without then?

Obviously clowns around who think otherwise.

Just a very complex version of selling the family house, funding of the new house contingent on selling the old house.

Banks and financiers will have no problem with all this as WTR has 3 significant assets as security in the land at Te Rapa, Waipa and Cambridge.

Best wishes also to Butch Castles, not something I would want to live with

[Chief Stipe]

All three clubs have voted for it as well.  Sadly Te Rapa has been let go and will get much worse.

The biggest issue though is making the new site self-funding enough to maintain and eventually renovate their core operational assets.

Hopefully it won't be like the AWT's and they have done a proper business case.

[curious]

Are any of the existing clubs that built events centres making a profit from them?

[Special Agent]

1 hour ago, Chief Stipe said:

Hopefully it won't be like the AWT's and they have done a proper business case.

You would like to think so.  Not much detail was given in the interview, and it did seem a bit up in the air to me.  Even building a house unearths extra funding requirements, and once you start living in the house there are always aspects that could be better.

[Special Agent]

1 hour ago, curious said:

Are any of the existing clubs that built events centres making a profit from them?

That's a good question.  I don't know how many clubs built them.

[Murray Fish]

22 minutes ago, Special Agent said:

1 hour ago, curious said:

Are any of the existing clubs that built events centres making a profit from them?

That's a good question.  I don't know how many clubs built them.

(from the cheep seats) Cromwell

Southland RC

 

[curious]

1 hour ago, Murray Fish said:

(from the cheep seats) Cromwell

Southland RC

 

Cromwell built an event centre?

[Murray Fish]

11 minutes ago, curious said:

Cromwell built an event centre?

for other horses, yes!   

[hesi]

2 hours ago, Special Agent said:

You would like to think so.  Not much detail was given in the interview, and it did seem a bit up in the air to me.  Even building a house unearths extra funding requirements, and once you start living in the house there are always aspects that could be better.

Which you plan for by allowing a contingency in your budget

[Chief Stipe]

7 hours ago, curious said:

Are any of the existing clubs that built events centres making a profit from them?

Ellerslie.

[Shab]

7 hours ago, hesi said:

Which you plan for by allowing a contingency in your budget

Just sell another track that doesn't belong to you.  

[Shab]

11 hours ago, hesi said:

Best wishes also to Butch Castles, not something I would want to live with

All the best to Butch with his fight for sure.

[Chief Stipe]

4 minutes ago, Shab said:

Just sell another track that doesn't belong to you.  

Which ones have been sold?  By whom?

[hesi]

17 minutes ago, Shab said:

Just sell another track that doesn't belong to you.  

But Waikato Racing with Te Rapa, Waipa and Cambridge have all agreed to progress with this including selling their assets when the time comes, to fund the new development

[Shab]

10 minutes ago, Chief Stipe said:

Which ones have been sold?  By whom?

Well they’re selling Avondale to pay for this lunacy aren’t they? That’s what I got from watching. When the money runs out they will need something else to sell. Eventually they’ll run out of stuff to sell and these farmers can buy it back for a discount.

[Chief Stipe]

25 minutes ago, Shab said:

Well they’re selling Avondale to pay for this lunacy aren’t they? That’s what I got from watching. When the money runs out they will need something else to sell. Eventually they’ll run out of stuff to sell and these farmers can buy it back for a discount.

So they haven't sold any yet as you inferred?

[Shab]

2 hours ago, Chief Stipe said:

So they haven't sold any yet as you inferred?

Come on you're plenty smart enough to know what's going on and you know its all scripted propaganda designed to butter you up to accepting it all and hoping its going to work. I'd bet you it will all end up a waste of time and money but going by the stories of race callers I've never heard of from sometime last century I probably have no chance of collecting by the time it falls over.

[Special Agent]

3 hours ago, Shab said:

Well they’re selling Avondale to pay for this lunacy aren’t they? That’s what I got from watching. 

Yes, that's also what I heard.  In fact, the point was made that although Auckland and Waikato are different provinces they are now considered in the northern region.

[hesi]

What's going on?

I thought it was pretty obvious, clubs working together to try and build new self-sustaining infrastructure for racing.

[Special Agent]

3 hours ago, Chief Stipe said:

So they haven't sold any yet as you inferred?

I believe no New Zealand racecourses have been sold since Hokitika.

The racecourse selling process under the Act is lengthy and we may have a new Racing Minister to rubber stamp any facility transaction by the time Avondale or Levin is sold, notwithstanding the fact that there is an additional step with RCP's involvement.

If the sale of three Waikato racecourses is not enough to fund the new venture, I can't see it happening in my lifetime.  As Warren Buffett would say, don't buy anything until you have the cash to do so.

[Special Agent]

7 minutes ago, hesi said:

What's going on?

I thought it was pretty obvious, clubs working together to try and build new self-sustaining infrastructure for racing.

I was under the impression working together was a balanced regional exercise.