Town and IBC Reach Rent Agreement
Friday, 10th Feb 2012 13:09
TWTD understands that Town have resolved their long-running dispute with Ipswich Borough Council regarding £654,702 in back rent owed on the land on which the Portman Road stadium stands. The agreement reached will see the Blues pay the cash over a period of six years, two years longer than had been proposed by IBC last October.
In March 2011, it was revealed that the annual rent on the land had jumped by 643% from £15,000 to £111,500 backdated to 2004, the council having initially targeted a rise to £250,000.
While Town had paid the new sum since the rent review was carried out in 2010, the club had dug its heels in regarding the additional £654,702 owed from the period back to 2004 when the rent review was initially due. An independent arbitrator had set the new figure, a process which cost the Blues £98,500.
At a council executive meeting in October, Town chief executive Simon Clegg put the club’s case, arguing that IBC’s former chief executive James Hehir, who died in November 2009, had made a verbal agreement regarding the issue of the back rent with club owner Marcus Evans. However, current IBC chief executive Russell Williams said he could find no evidence of such an arrangement.
Talks between the two parties have continued since then and we understand an agreement has now been reached.
Get two free £10 bets on Rotherham United v Ipswich Town (or other matches) by opening a new account at William Hill. Place an initial bet of a minimum of £10 and William Hill will give you two £10 bets. You must enter the promotional code "F20" when signing up as a new customer.
Please report offensive, libellous or inappropriate posts by using the links provided.
You need to login in order to post your comments
Blogs 178 bloggers
Disappointing Result, But Can Some of Us Drop the Sense of Entitlement? by Nuggets
The goalless draw today was disappointing, I won't argue with that. We were organised in an overly-cautious manner, much more so than usual, and our style of play was fairly defensive.
Time For Our Fate to Be Decided by paulthebluealien
We are now over halfway through the season which can mean only one thing.
If Statistics Won Games: Ipswich 2-1 Wigan by Kropotkin123
After last week’s tepid edition, a rejuvenated [i]If Statistics Won Games[/i] pulls no punches with a brand new, season-defining, phylogenetic branch of statistics – The Wider Context.
How Do You Think Ipswich Should Go Forward? (Mk II) by Luka
It was a dull, gloomy day in September and two teams were bidding for our prised assets. My how we have progressed since.
What Do Stewards Actually Do? by TimS
Have you ever spoken to a steward at a football match, or barged passed these marshals desperately trying to find your seat, or your place to stand? Stewards are the people who are dressed in shockingly bright and bulky clothes.
Ipswich Town Polls
[ Vote here ]
TWTD.co.uk Story Archive