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Just seen on another site that they have closed 2 more clubs in the past week
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Not surpised. More will follow I am sure. |
Manchester United's last THIRTEEN league titles have all been won through favourable refereeing decisions. Fact. :0) |
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Always expected as part of Rileys long term business strategy - sell off loss making clubs and invest capital in other clubs.
No biggy really.
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I thought they scrapped everything they wanted when they went into administration and bought out the ones they wanted etc? |
Manchester United's last THIRTEEN league titles have all been won through favourable refereeing decisions. Fact. :0) |
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But the market conditions changed since 2008. Rileys basically want to operate with a prtfolio of between 95 and 100 clubs and at the last check, I knew they had 114.
I'd therefore expect their programme of selling off their worst performing clubs and then reinvesting that capital into the other clubs to ensure their facilities are maintained and/or improved where necessary.
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They'll close more than that by the time this mess of an economy is straight. It's gonna get worse. |
Manchester United's last THIRTEEN league titles have all been won through favourable refereeing decisions. Fact. :0) |
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Maybe but that is/was Rileys plan in the not too distant past.
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Just seen on Surey site tht the Redhill one has been reopened under private ownership. Hope they can make a go of it.
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Are a lot of their units not sited in rented premises, i.e. no saleable value of those units of businesses?
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Maybe but I'd expect that rented units would be on a long term lease - say 99 years or whatever - so they then sell the leasehold rather than freehold of the building.
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but aren't they usually above other premises in the same building. Does that make a difference. ?
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That's essentially what makes them leaseholds rather than freeholds, isn't it?
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Originally Posted by: creggan  but aren't they usually above other premises in the same building. Does that make a difference. ? I'm no expert on the technicalities of freehold and leasehold but I'm pretty sure that a property developer could sell a block of flats on a fixed term leasehold of, say, 99 years and then each individual could then sell their leasehold to another person. It's just that as the period of time that is left on the leasehold decreases, so does its value.
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I don't think though that leases on commercial property are that long, very much shorter so it's easier to renegotiate rent and conditions 'n' stuff, about 10 - 15 years.
I may be wrong though, my knowledge is based on just two personal instances. |
FOR GOD'S SAKE!! Why can't people just accept me as the person I pretend to be! |
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To be fair you're probably right. Whilst they will have "leases" on them, I doubt many of Riley's premises are "lease-holds".
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Went to Rileys Altrincham last night to play a game in Altrincham Singles League..decided to play on table 6 whilst on way to the table 1 of the comp organisers advised me that someof the other tables had be been re-covered and would be a better option so chose to play on table 11..I was then advised when I asked to change tables that the light had been on for 1 minute so it would cost me 68p..by my reckoning that is £40.80 an hour and I was already on team rate with 50% discount so full rate would have been £81.60..FFS
Must be making some massive profits on those table rates. lol
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Originally Posted by: cascade  Went to Rileys Altrincham last night to play a game in Altrincham Singles League..decided to play on table 6 whilst on way to the table 1 of the comp organisers advised me that someof the other tables had be been re-covered and would be a better option so chose to play on table 11..I was then advised when I asked to change tables that the light had been on for 1 minute so it would cost me 68p..by my reckoning that is £40.80 an hour and I was already on team rate with 50% discount so full rate would have been £81.60..FFS
Must be making some massive profits on those table rates. lol Perhaps they have a minimum charge of 20 minutes?
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Originally Posted by: juan-king  Originally Posted by: creggan  but aren't they usually above other premises in the same building. Does that make a difference. ? I'm no expert on the technicalities of freehold and leasehold but I'm pretty sure that a property developer could sell a block of flats on a fixed term leasehold of, say, 99 years and then each individual could then sell their leasehold to another person. It's just that as the period of time that is left on the leasehold decreases, so does its value. You can renew a leasehold too, usually doesn't cost much. We added 100 years to my wifes grandads flat so that we could sell it (well, the estate could sell it). It only had 52 years left and apparently you can't normally get a mortgage on that so we had to do it to help it sell. Cost £13k.
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Originally Posted by: ddavis  Originally Posted by: cascade  Went to Rileys Altrincham last night to play a game in Altrincham Singles League..decided to play on table 6 whilst on way to the table 1 of the comp organisers advised me that someof the other tables had be been re-covered and would be a better option so chose to play on table 11..I was then advised when I asked to change tables that the light had been on for 1 minute so it would cost me 68p..by my reckoning that is £40.80 an hour and I was already on team rate with 50% discount so full rate would have been £81.60..FFS
Must be making some massive profits on those table rates. lol Perhaps they have a minimum charge of 20 minutes? Nope.
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Originally Posted by: cascade  Went to Rileys Altrincham last night to play a game in Altrincham Singles League..decided to play on table 6 whilst on way to the table 1 of the comp organisers advised me that someof the other tables had be been re-covered and would be a better option so chose to play on table 11..I was then advised when I asked to change tables that the light had been on for 1 minute so it would cost me 68p..by my reckoning that is £40.80 an hour and I was already on team rate with 50% discount so full rate would have been £81.60..FFS
Must be making some massive profits on those table rates. lol Memsec (Rileys CMS) allows you to swap your table without having to pay for your original one so the staff member should simply have swapped your 'account' from Table 6 to Table 11 and then you would pay your bill at the end of your game as usual.
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