So you don't think the fact that they've outlined all the next ground works that are going ahead and the fact that they have already spent £10 million is relevant?
The fact remains they can't start renting any units out until the freehold of the stadium is handed over.

Maybe its my fault for assuming that you've seen earlier updates from Lateral but full funding is in place for the whole project and underwritten by a pension fund. Some on the nut job forum explain it much better than I can.

Maybe you need to read the statement from Lateral, which clearly states funding is not fully in place .....

"While we cannot make a start on construction until our leasing and funding agreements are fully in place, we are working hard to make sure that all of the other complex and technical hurdles, such as the pre-commencement planning conditions, are all cleared."

"Having regard to funding, whilst we did face uncertainty last year in the months pre and post the Brexit vote we have made substantial progress and we expect to complete the necessary funding agreement over the coming months."

This would suggest that funding is not currently in place and that they still have some way to go before funding is available, perhaps you've been misled about certain aspects as much as Wakey fans have

"We continue to make good progress with retailers who are interested in having a store at Five Towns Park. Legal commitments are in place, or serious and detailed discussions are ongoing, with a number of key tenants."

And here's the part which tells you that they don't have enough businesses on board yet to make the project viable

Dress it up however you want, that statement is not a positive one. The two biggest hurdles have not been met, which are finances and businesses willing to take tenancy on the site.

The fact remains, they won't start construction of the stadium until they have secured appropriate finance, and have enough tenants willing to rent out the units

Incorrect. The funding agreement with the pension fund has been discussed and is in place but cannot be formally agreed until the necessary planning conditions have been discharged (which are all currently awaiting being discharged now or already have - look on WMDC planning portal). This funding will underwrite the entire project.

They have 3 retailers already signed up for the site, and I'm sure they will have all the others ready to go too.

The retail element cannot open until the stadium is built and handed over to Cas Tigers. Unlike Newmarket, there isn't a need to build a certain amount of floorspace either before the stadium can be built. So they can build as much as retail as they like but none of it can open.

Retailers and funding are completely separate (see my message above). Everything Lateral have done and are doing can be found on WMDC planning portal, and all ties in with their statement.

Am I missing something? Some supporters clearly keep talking about the funding being in place and all sorted despite the latest update direct from Lateral which has been quoted several times, which at various times states the funding is not yet in placce

Eg "Having regard to funding, whilst we did face uncertainty last year in the months pre and post the Brexit vote we have made substantial progress and we expect to complete the necessary funding agreement over the coming months.

The statement says that while they are working on the funding they have carried on with other things (like discharging planning conditions) it does not indicate the 2 are linked. In fact it implies the direct opposite.

The pension fund is underwriting the development, not paying for it. Thats the retails job and from reading that statement there isn't enough of that yet.

Let's get this clear. Do we have money in the bank account, no.

They have been in talk with major funds about cross-funding the entire site up front. The company in charge of this is called Cushman and Wakefield. They have agreed with one major pension fund to fulfil this but it's reliant on necessary conditions being discharged before this can be rubber-stamped.

So the funding IS in place to an extent in that we have an agreement. But it will only be completed once the conditions (majority being discharged already) have been discharged. This is what Lateral refer to with the "funding agreement".

The conditions point I took from the letter that Cushman and Wakefield supplied to WMDC with the planning application in December when it was changed from a supermarket to retail.

The pension fund will "forward fund" the entire project - e.g. They will put up the cost to get it all built in the first place. I'm assuming that it will be Lateral's responsibility to recoup that through rental over the years and pay it back.

But you have changed one word and it is an important word.

"After several months of discussions we are now in negotiations with a major Pension Fund, for them to forward fund
the entire project cost and I am confident we will be exchanging a funding transaction by the calendar year end.
However, there are a number of Conditions Precedent within the commercial terms which need to be discharged prior
to completion of the funding agreement."

It is not planning conditions that need to be discharged, it is commercial conditions and these could be any number of things (from quite minor to huge issues) none of which are on the planning portal.

Nowt much changes with you fully does it, just like when Glasshoughton was on the go it just rolls off yer tongue

Maybe so - but I expect that the conditions will largely relate to being that they secure the relevant planning permissions and discharge the conditions needed to get the site built.

Just relaying what's in the planning applications, Dickie, and what's in the statement.

I'm repeating nothing that isn't already in the public domain. Everything I've said can be backed up from the planning portal on WMDC's site, or via Lateral's own statement today. There's no spin, no secret information behind the scenes unlike last time, where I'll hold my hands up and say that I was naive and led down a garden path and peed off a few people on here in the process. I'll hold my hands up to that. Just what's in front of me in black and white

We all know that things can change and that hurdles will always have to be overcome. And no one will believe it until we see the roof going on, the pitch laid and the stands being built. We've both had too many false dawns.

Probably not. Developers are generally looking a short term profit while a pension fund will be looking to own a secure asset which generates income in the long term, which is why they will want to know they are not buying an empty retail park that no retailers want to move into.

It's a possibility but until they get enough companies signed up then they wouldn't be able to do that. Hence it won't even start until more are signed up or they will end up losing money.

Wasn't everything in black and white then, 2 Wakey fans on here have got you on the back foot already with your quotes, maybe you'd be better off as with GH, waiting till the concrete's getting poured, good luck anyway.

Poundland, Poundworld and Pound Shop?

I heard it was 98p land that was first to the table

There is a need for them to build a certain amount though, and that need is to ensure long term financial viability of the complex. They won't build units until they have tenants locked into long term contracts to fill those units. And if they don't have enough tenants to fill the units then they're not going to start building a stadium.

It might not say an exact sq.m in the planning, but don't be deluded into thinking that they don't have a minimum sq.m they need to reach before they consider laying a brick. That minimum sq.m for the five towns park will be all 8 retail units. When they've got all 8 units locked down with retailers, they will build, but there's no chance they will consider building until they have ALL of the units let

Actually after they lost the major supermarket, they changed planning and broke that space into smaller units. The current number is about 18 of which they announced tenants for 3 (assuming those 3 still are still signed up now that the major anchor unit is no more - in that most retails parks have one major unit to draw foot traffic)

You would of thought he would of learnt from the Glasshoughton fiasco. Just repeating and spinning the official line won't increase the chances of it been built but it might make him feel better. From the experiences of Glasshoughton and Newmarket its certainly safe to assume any delay is usually bad news, especially when people start spinning. What ever happened to Dickie Wright?

For me as a Cas fan the update today is slightly disappointing and the comments about funding and retailers is concerning. But on the flip side Lateral have already poured a lot of money into the project and do provide updates and there does appear to be a strong will to get get the 5 towns project done. For me personally I feel more optimistic about a new stadium than I have ever done but won't fully believe it until I'm sat in the damn thing!

I understand some posters on here pulling this latest statement apart but can you show me the last the time Yorkcourt provided an update of any kind? It's been 5 years since planning permission was passed for Newmarket and other than we can't tell you what's going on yet statements being issued every now and then I can't recall a single report of this kind from Yorkcourt.

im totally peed off with all the stadium bickering and sniping that's gone on for the last few years and would love nothing more than both our clubs being in new stadia and fighting out at the top end of super league for silverware and ALL the talk being about the rugby on the field and nothing else.