Big sky blue news tomorrow (1 Viewer)

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chiefdave

chiefdave

Well-Known Member
Gregbant said:
Shop to be back at the Ricoh as well, this is like a common sense parallel world!!
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Wonder where it will be. Given Wasps have closed the shop they had is it going to be a combined store, on the one hand makes sense, on the other to keen on walking into our club shop and seeing a load of Wasps stuff.
 
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Gregbant

Well-Known Member
Frostie said:
This brought a wry smile, especially after the Trust, Linnell etc. were adamant SISU could & should ask for it to be dropped.

www.coventrytelegraph.net

Sisu complaint 'parked' by Wasps to allow CCFC's Ricoh return

Coventry City's owners brought the complaint before the European Commission back in 2019
www.coventrytelegraph.net www.coventrytelegraph.net

View attachment 19122
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Personally I wish it had never been submitted, it has set us back two years for what it sounds like will eventually amount to nothing. Anyway at least we are here now!!!
 
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Gregbant

Well-Known Member
chiefdave said:
Wonder where it will be. Given Wasps have closed the shop they had is it going to be a combined store, on the one hand makes sense, on the other to keen on walking into our club shop and seeing a load of Wasps stuff.
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No one shop each, we get our own treasure chest 👍👍🏪🏪
 
Sbarcher

Sbarcher

Well-Known Member
Wonder if we will get any cash from any enhanced new naming rights for the Ricoh as it has to be a better sponsorship situation for any interested party.
 
Evo1883

Evo1883

Well-Known Member
Gregbant said:
Personally I wish it had never been submitted, it has set us back two years for what it sounds like will eventually amount to nothing. Anyway at least we are here now!!!
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Well i mean look at it another way... The last 2 years saw us climb from league 1 to the Championship... I'm glad it happened and wouldn't want to change it based on that alone
 
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Gregbant

Well-Known Member
Evo1883 said:
Well i mean look at it another way... The last 2 years saw us climb from league 1 to the Championship... I'm glad it happened and wouldn't want to change it based on that alone
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Can't agree with you on that one, Coventry should never be out of Coventry. Personally I think if the EU complaint wasn't in, with Mark Robins at the helm we still would have got promoted, but in Coventry. Each to their own opinions though 👍👍
 
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Gregbant

Well-Known Member
better days said:
I guess that confirms it :ROFLMAO:
Conn only emerges to talk about us when the council need a mouthpiece
Don't know about Les Reid
A decent local journo who cares about the club maybe?
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I thought Les was a decent journalist to be fair, I liked the way he digged at the council at the beginning and did genuine investigative journalism. Then once he got stung by that, he lost his way and he only investigated the council. SISU would tell him anything and he would just print it no questions asked, he become their media outlet.
Simon Gilbert was the same for Wasps and the Council in the telegraph just print what they tell him to print. More recently he challenged the council a bit.
However to get David Conn to be your stooge that would take some going!! 😂
 
fernandopartridge

fernandopartridge

Well-Known Member
oldskyblue58 said:
The deal has to be good for both sides for it to work not just now but for potentially 10 years. If one side felt unfairly treated by the deal then we are going to end up back at square one pretty quickly with all the rancour that brings. To think that to get this done CCFC/SISU got one over wasps i think is fanciful. For both clubs it was critical to get the deal done and for a reasonable period

The only thing so far that surprised me is that CCFC get fixture priority, but thinking about it wasps do not have as many fixtures and quite a few are on Fridays & Sundays in any case. They do not have mid week games it seems. Also it must be possible to alternate weekends - surely not a big hurdle

Wasps had at their disposal all of the past financial history relating to site operations, some or most of which they would have to share with CCFC to some degree to get the negotiations and deal done. So between the two sides there must be a fair degree of transparency.

So the rent is same as ? before at the Ricoh (ie prior to Birmingham move?) the rent at St Andrews? Not sure so far from what has been said only comment i can find is that it hasn't been discounted for a return because of the improved other terms

CCFC get a better share of F&B. Good they should. So long as wasps costs are covered then wasps no worse off. Those costs will have been drilled down and agreed during negotiations. Personally i think it would be a mistake to believe wasps make nothing in the deal. Any costs will have been deducted from the site F&B turnover before CCFC get their improved slice. I suspect that the biggest improvement though will be because of the bigger attendances hence why Boddy encouraged people to buy. In the past it was suggested CCFC got a net profit share equivalent to 15% of Turnover net of VAT. Guessing, but to me it isnt going to be huge figures. Just as an example say similar set up gives them 25%

previous deal F&B Turnover net of VAT £1m @ 15% = 150k to CCFC
new deal example F&B Turnover net of VAT £1m @ 25% = 250K to CCFC
New deal example F&B Turnover net of VAT £2m @ 25% = 500K to CCFC

All very welcome of course

Car parking CCFC get better access to this source. Again good. CCFC did have some access to car park income previously but it was a small number of the spaces available. Sounds like more spaces made available to CCFC. There are what 2100 spaces at the Ricoh (assuming car park C available) say CCFC got 1000 as part of the deal then 23 matches @£10 less VAT and costs that could be worth around £190k (adjust number of spaces to suit). All welcome but probably still leaves wasps with some income they didn't have for last two seasons.

Biggest benefit to CCFC is the increased crowd numbers. CCFC get and always have had 100% of the ticket sales. In the last accounts to 31/05/2019 the match receipts were 2.54m with average crowd at 12363. If Boddy's prediction of 17000 average crowds comes off then it is reasonable to assume in excess of 3.5m annually match day receipts. Add in increased central funding and increased commercial opportunities from playing in Coventry then you begin to see why it was important to come back to the Ricoh. CCFC were never going to get 17000 average at St Andrews. It isn't just the crowd numbers but it is what can be added on to those numbers commercially and culturally - which adds to income total.

Looks like there is agreement to improve the pitch and that both sides will contribute. We dont know the split of contribution, but didnt CCFC have to pay for many years. Last time the pitch relayed i believe it cost £1m+ so we are not talking small figures. A better pitch will clearly help CCFC but look at how wasps try to play (which is a fast running game) and a good pitch suitable for football is not going to hinder them and they wont have to pay for all of it

Wasps now have a rent paying tenant for a minimum of 7 years but probably 10 years. There is no short term one or two year agreement with a fractious relationship. Why is that important. Well its guaranteed income for wasps each year. But it is also going to improve the other turnovers and other commercial opportunities. Which will of course improve the lease value which makes refinancing easier and meets bond covenants.

wasps would not have done this deal if they thought that it would place them in a worse position financially. They are not stupid. The point that they would go down to on operational income, other than rent, with CCFC would be break even. I doubt they have or needed to get to that point. Even at break even it seems to me that they improve their cash flow by the rent and their balance sheet by the maintenance of the lease value.

Both sides need this deal to work. I am sure both negotiated hard and there are robust legal agreements. Very glad they got it done

The EU case we all know can not be stopped by any party involved, wasps just needed to step back and recognise that, to get on with things and move forward.

CCC & Duggins actually have little say in it. The deal is between two private entities and the voters would have a fit if he tried to block it. To me he seems to like his own way and reacts very badly if challenged (been there done it and he didnt like it)

Just all my opinion of course. Personally just glad both sides have seen sense, finally

Looking forward to watching CCFC at the Ricoh. Well done to all involved. Pretty certain both teams will be better for it on and off the pitch
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I know it was only an example but the increased access to f&b turnover and increased gates might lift that income a bit further too. Likewise the new things like Ehe sports bar, if that's included as a source of matchday income it would contribute more still.
 
M

Magwitch1

Well-Known Member
It looks to me if Wasps have been on the back foot a bit with these negotiations they appear to have given ground on a few issues just wondering if the possible naming rites and the few million that will bring in has influenced things.
 
mark82

mark82

Moderator
mrtrench said:
So salty of Boddy to thank "Andy Street, the West Midlands Mayor, and Allan Andrews from the West Midlands Combined Authority" and not mention CCC. It's like the Queen stating that "recollections may vary" in response to The People's Princess Meghan.
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Those two have been directly involved.
 
R

robbiethemole

Well-Known Member
Magwitch1 said:
It looks to me if Wasps have been on the back foot a bit with these negotiations they appear to have given ground on a few issues just wondering if the possible naming rites and the few million that will bring in has influenced things.
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Rumours of an "electronic giant" company looking to follow Ricoh for the naming rights.

How many of them are there? Euronics, Toshiba, LG etc.
 
oldskyblue58

oldskyblue58

CCFC Finance Director
fernandopartridge said:
I know it was only an example but the increased access to f&b turnover and increased gates might lift that income a bit further too. Likewise the new things like Ehe sports bar, if that's included as a source of matchday income it would contribute more still.
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It may well be the case fp. The example was to show the principle and highlight that what ccfc get is probably a share of f&b net profit so not to expect millions increase in turnover. Of course what ccfc get will add to ccfc turnover and net profit in equal measure because the associated costs are taken out before ccfc get it.
 
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robbiethemole

Well-Known Member
From Dave Boddy, we're building a new shop in the south-east corner of the stadium and extending the deal with Hummel.
Is that the station end/side of the ground?
 
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