Funny how cas can get funding for a new stadium to the tune of £135m.

And we get knocked back at every stage Box won't have nowt to do with it LOL if it is gunna call it 5towns you would have thought personally it would have been better having it in the middle of the district instead of the fringes

That figure is for the whole 5 towns park of which the stadium is just a small part.

All funding for Cas' stadium is from private companies and not the council as far as I am aware. Cas have received the same amount of support from the council as Wakey, ie. Planning permission etc.

Just wait till they tell the developers they dont need to bother with the stadium bit if they dont want to.

The funding bit most of us are aware of, and cringe when other Wakey fans open their mouths and place their foot in the hole. Similar feelings to when jerks on TotalRL state Wakefield are asking the WMDC for funds.





The bit about Box giving us the same support as Cas though, come on!

This!

It helps when the local council signpost potential developers and investors Castleford way thus enabling the funding for Castlefords privately owned er....community stadium

Lifelong Cas fan and Cas Tigers shareholder Peter Box (yes Peter, nominal shares indeed!)



'Nuff said.

They must be fantastic developers over there. They have been allowed to develop on green belt land without a public enquiry.



They must have obtained a massive financial planning gain by doing this but in all fairness they have offset this gain not by giving an asset to the community but by giving an asset of around £12M to a private company, what generous people they are.



The leader of the council is a shareholder in this private company and therefore he will have made a financial gain from this deal which may only be nominal but his position in all this shows he has more than a neutral interest for it to happen.



However contrast that to the way we have been shafted at Newmarket and the utter contempt Box has shown towards our plight.



I really hope Cas get their stadium as its good for the game in general but all I ask is that we get equal treatment from Box and his croanies.

That's the part that confuses me - they persist in referring to it as a community stadium, when it clearly isn't; it's an asset being gifted to a private company, and the CEO of that very company has just publicly announced the commercial benefit it will bring to them - and the shareholders, of which the Council leader is one. How is this not being looked at outside of the parochial backwater that is WMDC?!



I'm happy for Cas to be (eventually) getting their new stadium - but it's galling to see the total difference in attitude towards that project, and the *actual* Community Stadium proposed for Wakefield.

I am not a tax expert, far from it.. However anyone out there who is, I would be interested to know how a private company can benefit from £12M gift without tax implications ? Be interested to see how Box squirms his way around that one.



Companies do not go around making gifts of such magnitude to another company totally unrelated. They have must have had some incentive or pressure in order to do so. If their deal has been brokered by WMDC then all I ask is that WMDC give our club the same 'service' so that we also get a stadium given totally free of charge.

By means of a S106 agreement

From what I understand from reading about this probably a few years back - it may have changed since - there are tax implications (in that the disposal of land will be charged Capital Gains Tax). If it's given away, then Lateral will be charged tax on the difference between the market value and the price they paid for the land there. Lateral's Directors can apply for Gift Hold Over Relief, which will transfer the tax to Cas should they ever sell the new stadium.



Someone else well versed in accountancy may be able to clarify this. Similarly, if Cas ever sell Wheldon Road, they'll be paying the same tax on the difference between buying and selling too. And again, they can delay this if they sell WR within 1 year after they move in or at any point between now and the stadium being built (providing it's within 3 years).



I would also point out that I don't think the land is being transferred and it isn't free. If I remember rightly, I think the freehold of the stadium is being given to Cas for a nominal fee (small amount, but not free)

Wrong there , I am sure 106 monies are not allowed to go to private companies or individuals.



Hence the reason we had to form a charitable trust for NM.