I didn’t say who was saying Simon and Ian should just pay the £3.5m but if the cap fits?
The land might have been worth £18m 10 years ago (we only have Mr Swann’s word on that) but it’s worthless now nobody is creating new retail space.
The pandemic has left the country awash with ready built office space in much more salubrius locations. My fag packet exercise shows residential development is not going to make any money.
Yes there is a football ground that is just about good enough for lower league football on the land but it is of no use to anyone other than Scunthorpe United. You can’t move the ground out or an alternative professional football team in.
So what is for sale here? A soon to be tier 6 football club with no saleable assets and (rough estimate) at least a million pounds of debt.
If the reported offer is £1.5m then I think Simon and Ian are being generous to the point of recklessness. Probably gone that high only because of their passion for the club.
2 likely outcomes. A sale to Simon and Ian once the owner comes to terms with another failed gamble. Or administration and someone buys the remnants of our once proud football club.
