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Slough Borough Council's reported "Bankruptcy"


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Guardian article reports that "As a consequence, the council is to impose “rigorous spend control measures” that are likely to mean significant job losses, cuts to services, and the sale of buildings and land, to ensure it can “live within its means” in the long term." Should this be a cause for concern? Or even an opportunity?

 

 

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If only we had a fan or fans with a few spare million to buy the ground for us! I find it astonishing that the council have been so incompetent financially. How can the leader and accountants not see this unfolding and not take drastic action earlier? It’s not like it happened overnight!

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https://www.sloughexpress.co.uk/news/slough/169394/slough-borough-council-facing-96-million-deficit-this-year-section-114-notice-reveals.html

Couple of interesting points in this article: 

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The council has already been in discussions with the Ministry of Housing, Communities and Local Government about securing a £15.2 million capitalisation directive which would allow it to sell off some assets to plug a multi-million pound hole in its budget for 2021/22.

 

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"I have been assured that will not be the case and that they are working to resolve the situation, including examining sale of the considerable assets amassed over recent years by the council." - Tan Dehsi


Does make you wonder if Arbour Park will be one of the sites which would potentially be sold off. 

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Hate to sound pessimistic but if the ground was sold off cheaply to a private company/individual is there anything legally in place to stopping the ground from being bulldozed and turned into something more profitable?

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On 03/07/2021 at 16:22, GlenSTFC said:

If only we had a fan or fans with a few spare million to buy the ground for us! I find it astonishing that the council have been so incompetent financially. How can the leader and accountants not see this unfolding and not take drastic action earlier? It’s not like it happened overnight!

Oh Glen, ive been saying for years, Id love to win the lottery and enough to see my family ok, but first thing I would do is plough into slough (see what I did there ;) ) . Would buy slough our own stadium, bank roll signings, give the gaffers a pay rise (one can dream right). Problem is, been having this dream for 40 years :( 

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24 minutes ago, REBEL MATTERS said:

Oh Glen, ive been saying for years, Id love to win the lottery and enough to see my family ok, but first thing I would do is plough into slough (see what I did there ;) ) . Would buy slough our own stadium, bank roll signings, give the gaffers a pay rise (one can dream right). Problem is, been having this dream for 40 years :( 

Yeah all us fans I’m sure would do exactly the same (although I’d have to win tens of millions to buy the stadium too!). 

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On 09/07/2021 at 11:58, REBEL MATTERS said:

Oh Glen, ive been saying for years, Id love to win the lottery and enough to see my family ok, but first thing I would do is plough into slough (see what I did there ;) ) . Would buy slough our own stadium, bank roll signings, give the gaffers a pay rise (one can dream right). Problem is, been having this dream for 40 years :( 

The Lottery has only been going 27 years :D 

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23 hours ago, REBEL MATTERS said:

No need to be pedantic, you know what I meant.

Yeah I know....was trying to think of something witty to say and thats the best i could come up with.....

 

oh well, back to the day job :D

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I have seen on a crypto currency website that they are in discussions to be sponsors of Slough mens and womens teams, would be exciting if true.   Didn`t want to post link on here in case it puts it in doubt or the club were announcing it.  What would Bakes the financial advisor say to crypto!?

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9 hours ago, richierebel said:

I have seen on a crypto currency website that they are in discussions to be sponsors of Slough mens and womens teams, would be exciting if true.   Didn`t want to post link on here in case it puts it in doubt or the club were announcing it.  What would Bakes the financial advisor say to crypto!?

Talks to sponsor us with this cryptocurrency company were being held nearly 2 months ago for the forthcoming season so I doubt if anything has come out of those talks.

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