Thursday 13 September 2007

The Elephant in The Room

Here's a little question, that has been troubling a good number of people in Croydon over the past few years, wrt the Arena.

If the Arena is such a good commercially viable project, as Arrowcroft and Croydon Council would have us believe, why is that no one has yet been found to take it on and run it (in the event that it is built)?

Some may argue that the question is irrelevant, given that a local council and construction company in the UK would never commit to building something that would be a commercial and cultural failure.

I will disregard the obvious comparison to Bliar's Dome, and move on to the little loophole within the agreement between Arrowcroft and Croydon Council.

After the unconditional date (ie if Croydon Council have taken the site by CPO, and given it to Arrowcroft) the potential returns of the newly acquired site will be reviewed.

In the event that the Arena is considered to be no longer commercially viable, in the form that Arrowcroft have "sold it" to Croydon Council, Arrowcroft could turn around and say that they don't think the Arena is viable and not build it.

Don't believe me?

Read it for yourself:


Para 4.2

"..members will review the potential return to the members and discuss alternatives for realising profit and the future of the LLP and profit allocations should the members decide to progress the Development."

A cynic might argue that Croydon Council have allowed themselves, and the citizens of Croydon, to be placed in a very vulnerable position here; ie the plans for the Arena may well be pulled, and Croydon would be saddled with an unknown "plan B" for goodness knows what.

They have let us down big time.

Like it or not, this elephant of will not leave the room!

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