CHINGFORD: Morton determined over Stow deal (From East London and West Essex Guardian Series)

CHINGFORD: Morton determined over Stow deal

8:56am Friday 3rd September 2010 in Your Local Areas By Safira Ali

Businessman Bob Morton says a deal can be done to bring back greyound racing to the Stow

A BUSINESSMAN who has had an offer to reintroduce greyhound racing to Walthamstow Stadium turned down says he is still determined to do a deal.

Owners London & Quadrant (L&Q), which wants to build new homes on the Chingford Road site, said Bob Morton’s recent offer fell short of their valuation and lacked detail.

This prompted an angry response from campaigners and politicians, who accused L&Q of breaking promises to take the community’s needs and wishes into account.

This was flatly denied by L&Q, which said it had informed Mr Morton of what it considered to be a viable offer and was happy to meet with him again.

Mr Morton said in a statement this morning: "I would like to make perfectly clear my desire to deliver the mixed greyhound track/residential development that I believe offers the best possible solution for this site.

"This solution has the support of the Mayor Of London, local MP’s Iain Duncan Smith and Stella Creasy and the vast majority of the borough’s residents.

"I am certainly not walking away.

"I value the site at between £8-£9m. My original offer to L&Q was to purchase the greyhound track part of the site for £4m, allowing L&Q to develop the part of the site currently occupied by the popular enclosure, which I value at between £4-£5m.

"I would like to make clear my flexibility with regards a proposed deal. In principle, I would be prepared to purchase the whole site, rather than the greyhound track section of the site that was the basis of my original offer.

"I would also be willing to work with L&Q on the residential development if that was their preferred option.

"There is also flexibility surrounding the amount or value of the offer, either for part of the site or for the purchase of the whole site.

"This flexibility may be assisted by the mix between commercial and social housing units.

"In short, there are a variety of options and I am keen to agree a deal that is fair for both parties. "More importantly, I am determined to agree a deal that offers the best solution for the residents of Waltham Forest.

“I would welcome the chance to talk to L&Q and discuss all options without any preconditions. I would ask that any meeting takes place within the next seven days."

Meanwhile, the Greyhound Board of Great Britain (GRGB), the governing body for licensed racing, says L&Q has wrongly alluded to question marks over the future of the sport.

Barry Faulkner, GRBB chief executive, said: “Yes, the last five years have been tough for greyhound racing but the same has been true for virtually every other leisure industry.

“The 2009 Deloitte report, The Economic Impact of British Racing, commissioned by the British Horse racing Authority, was a reminder that greyhound racing continues to rank as the country’s fourth most popular spectator sport.

“Walthamstow was the most-attended greyhound stadium in each of its last five years prior to sale, while the extraordinary attendance figures during its final meetings were a lasting reminder of its public popularity and potential.

“Although we have not been directly involved with the plans produced or the offer made by Mr Morton, it goes without saying that the Greyhound Board would support his or any other financially viable proposal to bring greyhound racing back to its most popular home.

“It remains a great shame and an economic waste to have the stadium sitting empty and unused over two years after the last race was run.”

A spokesman for L&Q said: "At all times since the purchase of the site, representatives of L&Q have been willing to meet and discuss any serious bid for the scheme and this promise remains the case.

"Mr Morton has been offered the opportunity to discuss his bid with us, his initial indication was that he was walking away, however through the press we now believe he has changed his mind on this.

"We will seek to establish what his true position is shortly and remain open to discussions."

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