New ricoh tenant (8 Viewers)

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shmmeee

shmmeee

Well-Known Member
shmmeee

shmmeee

Well-Known Member
Saddlebrains said:
Because it's a tenant they will make money off and no longer 'need' us probably? Not great either way
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They never needed us more than they needed us to stop trying to distress them. That’s why we aren’t there in the first place.

Our return won’t hinge on Wasps disappearing, or being skint, people need to drop that fantasy. It’ll come down to one of the sides backing down and not much else. I see nothing to suggest we’re any less likely to go back today than we were yesterday.
 
jordan210

jordan210

Well-Known Member
A lot of spin in this as we have all seen the loses of wasps and the worries in the national papers of rugby in general. No surprise as its been pushed by telegraph.

Office space rental is low at the moment. With some companies already deciding from home is the new future. Cant see any one paying pre covid rates.

The bar and restaurant isn't that from the money from CCC ?

March room sports stuff is good business but is hardy going to fill the hotel week in week out for behind closed doors events.

Like everything with Wasps and telegraph take it with a pinch of salt.


Also interesting that he says they want to start building the new hotel first q of next year. according to the planning site its not even been approved yet
 
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fernandopartridge

fernandopartridge

Well-Known Member
Adding to the long-term tenant, adding to the pool, the darts, the snooker etc, there's actually quite a lot of really good things going on."
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It sounds like something Brian Potter would say

On the one hand they're going cap in hand to the government, yet on the other are investing in constructing a bar.

"Three quarters of our business or more comes via non-sporting entity and, actually, some of those areas are actually going quite well, by us being quite flexible about what we can do.


"As such, we've got some fairly good commercial revenues coming through in non-traditional sources I guess. It's not all doom and gloom."


The Ricoh Arena has hosted many big names in music, including The Spice Girls, The Rolling Stones and Oasis as well as Olympic events and more over the years.

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It is currently housing a regional coronavirus testing centre.
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Good to have a growth industry
 
Skyblueweeman

Skyblueweeman

Well-Known Member
I think (to be fair, with Sky Blue tinted glasses), that there's a lot of positive spin on this when it's not really news or at very best for Wasps, it's an optimistic outlook.

The plans for all the refurbishments and new bits and bobs all sounds like some sort of new 'masterplan' as the paper put it. But we've known this is going to happen when it was announced the grant was going to be awarded.

In terms of the office space, I can't seriously see how renting some office space out is going to make a massive difference to their finances. Unless it's someone who is going to take over naming rights to the stadium and base some of their staff there.

And to his point about them being in a unique position compared to their competitors in terms of all the 'non matchday space', he's obviously right. The bit that wasn' mentioned is that the conference and events industry is on it's backside and being close to it, I know it'll take years to recover to what it was pre-pandemic. People like Matchroom (which to be fair, is good business and will help promote the facilities) won't be paying what they would've pre-pandemic.

A lot of overly positive spin here and nothing really new apart from their new tenant announcement. If there's a new stadium sponsor attached (unlikely) then it would be a bigger deal.

And I don't think this necessarily rules out a Ricoh return. We've got by with no staff based there for over a year now. There's nothing stopping us playing at the Ricoh without any staff based there. Not ideal I guess but could easily work.
 
fernandopartridge

fernandopartridge

Well-Known Member
The way the article it's difficult to understand if the long term elite sport tenant refers to the Matchroom stuff or something else. If it's something else there is no ruling out that it's CCFC.
 
Skyblueweeman

Skyblueweeman

Well-Known Member
fernandopartridge said:
The way the article it's difficult to understand if the long term elite sport tenant refers to the Matchroom stuff or something else. If it's something else there is no ruling out that it's CCFC.
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I read it as something else to be fair:


"We're also close to announcing a large rental deal for a large piece of the office space. We've got a long-term deal.

"We've also just signed a long-term deal with Matchroom Sport..."
 
higgs

higgs

Well-Known Member
I wonder is Tim Fisher behind the building of the hotel?

Sent from my SM-G930F using Tapatalk
 
samccov1987

samccov1987

Well-Known Member
could we be looking at a renamed Matchroom Sport Arena?

see a couple of big fights we’re announced recently - Del Boy/Usyk and White/Povetkin. Could we be seeing these at the Ricoh instead of Hearns garden?
 
Skyblueweeman

Skyblueweeman

Well-Known Member
covcity4life said:
It is probably the council renting it out for 1.4m a year lets be honest
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Ha ha! That's not as ludicrous as it sounds!! I have a mate who works for Chichester CC who said they were selling off office space as homeworking had reduced their need for the space. They stood to make a decent amount of money from the property sale.

Could CCC be doing the same - selling off office space and then using some of it to have a hub at the Ricoh?!
 
shmmeee

shmmeee

Well-Known Member
Skyblueweeman said:
Ha ha! That's not as ludicrous as it sounds!! I have a mate who works for Chichester CC who said they were selling off office space as homeworking had reduced their need for the space. They stood to make a decent amount of money from the property sale.

Could CCC be doing the same - selling off office space and then using some of it to have a hub at the Ricoh?!
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F691BA0D-30C1-4FCB-9715-6B302B67F745.jpeg
 
fernandopartridge

fernandopartridge

Well-Known Member
Skyblueweeman said:
Ha ha! That's not as ludicrous as it sounds!! I have a mate who works for Chichester CC who said they were selling off office space as homeworking had reduced their need for the space. They stood to make a decent amount of money from the property sale.

Could CCC be doing the same - selling off office space and then using some of it to have a hub at the Ricoh?!
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Well CCC vacated all of the civic centres in Cov and moved into 1 Friargate but immediately sublet some of the space which might suggest they have some demand for additional space so i wouldn't be surprised.
 
Nick

Nick

Administrator
They have been advertising office space for ages, posted it in the Telegraph thread that their building was up for lease so they will need a new home too.
 
peaches and cream

peaches and cream

Well-Known Member
For me this is bit like the announcement of your new stadium, we both have club representatives trying to put the best spin they can on any news that's released at the moment. I will believe this is a significant deal for us as and when I see solid evidence just like i'll believe SISU will build you guys your own stadium as and when they put a shovel in the ground.
 
chiefdave

chiefdave

Well-Known Member
Even by the Telegraphs standards this is poor. They've managed to spin Wasps letting out some office space into a everything is fantastic article which convienently comes sandwiched between reports in the national press of Premiership rugby clubs potentially going bust and their next financial report which is due in about 5 weeks.

Suspect we'll also get a second 'good news' story as this one says "an official announcement regarding the identity of the new tenant is expected before the end of the week". Is it normal for the Telegraph to run stories when some office space is let in the city?

If Bridge had bothered to do the slightest bit of journalism he'd be presenting a very different story. Financially Wasps are the worst performing club in the Premiership and even if you assume the rest of their business has been unaffected by covid the half a million a month lost to covid other clubs are reporting puts them on course to lose in the region of £20m a year. But of course their other business are hotel, hospitality, events and exhibitions. Industries that covid has completely decimated. Although according to Vaughn those sectors are doing fantastically well and propping up the rest of the business. "We're in a unique position ... we are an arena with conferencing, exhibitions, concerts ... three quarters of our business or more comes via non-sporting entity and, actually, some of those areas are actually going quite well". Not sure I believe that.

So lets break down what he's actually reporting:

1) They've let some office space. Good news but they've had tenants leave as well and have had vacant office space advertised for years.
2) Opening a sports bar. Sure the casino will be really happy about this. What happened to Bar 87 after they rebranded it, has it closed? There's also a bar in The Mill so while more choice is good I suspect it will just mean existing custom moving from one bar to another. Can't imagine many people making a visit to the Ricoh just for a bar. Would they not have to apply for planning and licensing changes for a new bar?
3) Opening a restaurant. As above they already have The Mill and Faradays so will just be moving existing customers around.
4) Refurbing a 15 years told exhibition centre by replacing the floor and partitions. That's just something you'd routinely expect to happen isn't it?
5) The Matchroom Sports deal. Dig a bit into this and its not all it seems. It appears to be two events (one darts, one ten pin bowling) moving to the Ricoh after the original venues pulled the plug as the events weren't financially viable without spectators.

Hope the Telegraph charged them a decent rate for PR services.
 
fernandopartridge

fernandopartridge

Well-Known Member
Nick said:
They have been advertising office space for ages, posted it in the Telegraph thread that their building was up for lease so they will need a new home too.
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Nah, they had a tiny tiny office at the canal basin. They won't need much more than a broom cupboard. I think it's all produced and edited in Birmingham now tbh.
 
chiefdave

chiefdave

Well-Known Member
bradwellskyblues said:
another point is that the new sports bar is were wasps shop and ticket office is are these closing , so Telegraph headline could of been
"WASPS CLOSE CLUB SHOP"
NOW THAT WOULD BE FUN
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Wonder if they are moving it or just going to have mobile units like we did. There's nowhere obvious for it to go to that would get the foot fall of the current location. Obviously far too complicated a question for a Telegraph journalist to ask.
 
Ranjit Bhurpa

Ranjit Bhurpa

Well-Known Member
chiefdave said:
Even by the Telegraphs standards this is poor. They've managed to spin Wasps letting out some office space into a everything is fantastic article which convienently comes sandwiched between reports in the national press of Premiership rugby clubs potentially going bust and their next financial report which is due in about 5 weeks.

Suspect we'll also get a second 'good news' story as this one says "an official announcement regarding the identity of the new tenant is expected before the end of the week". Is it normal for the Telegraph to run stories when some office space is let in the city?

If Bridge had bothered to do the slightest bit of journalism he'd be presenting a very different story. Financially Wasps are the worst performing club in the Premiership and even if you assume the rest of their business has been unaffected by covid the half a million a month lost to covid other clubs are reporting puts them on course to lose in the region of £20m a year. But of course their other business are hotel, hospitality, events and exhibitions. Industries that covid has completely decimated. Although according to Vaughn those sectors are doing fantastically well and propping up the rest of the business. "We're in a unique position ... we are an arena with conferencing, exhibitions, concerts ... three quarters of our business or more comes via non-sporting entity and, actually, some of those areas are actually going quite well". Not sure I believe that.

So lets break down what he's actually reporting:

1) They've let some office space. Good news but they've had tenants leave as well and have had vacant office space advertised for years.
2) Opening a sports bar. Sure the casino will be really happy about this. What happened to Bar 87 after they rebranded it, has it closed? There's also a bar in The Mill so while more choice is good I suspect it will just mean existing custom moving from one bar to another. Can't imagine many people making a visit to the Ricoh just for a bar. Would they not have to apply for planning and licensing changes for a new bar?
3) Opening a restaurant. As above they already have The Mill and Faradays so will just be moving existing customers around.
4) Refurbing a 15 years told exhibition centre by replacing the floor and partitions. That's just something you'd routinely expect to happen isn't it?
5) The Matchroom Sports deal. Dig a bit into this and its not all it seems. It appears to be two events (one darts, one ten pin bowling) moving to the Ricoh after the original venues pulled the plug as the events weren't financially viable without spectators.

Hope the Telegraph charged them a decent rate for PR services.
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'Three quarters of our business or more comes via non-sporting entity'.
Hmm... three quarters of bugger all is still bugger all.
 
shmmeee

shmmeee

Well-Known Member
chiefdave said:
Wonder if they are moving it or just going to have mobile units like we did. There's nowhere obvious for it to go to that would get the foot fall of the current location. Obviously far too complicated a question for a Telegraph journalist to ask.
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They (as in the world at large not wasps specifically) should open an all Cov sports shop in the city centre. CCFC Wasps Blaze CRFC whoever else there is. Could have old Cov sports memorabilia and all sorts. Would annoy a few on here but I think it’d be great.
 
AOM

AOM

Well-Known Member
shmmeee said:
They (as in the world at large not wasps specifically) should open an all Cov sports shop in the city centre. CCFC Wasps Blaze CRFC whoever else there is. Could have old Cov sports memorabilia and all sorts. Would annoy a few on here but I think it’d be great.
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When the CCFC and Wasps sections collide

blackfriday.gif
 
T

Travs

Well-Known Member
fernandopartridge said:
Nah, they had a tiny tiny office at the canal basin. They won't need much more than a broom cupboard. I think it's all produced and edited in Birmingham now tbh.
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The Canal Basin office is/was indeed up for lease. My understanding is all telegraph staff are currently working from home/remotely for an indefinite period due to the Covid.

I did ask about the implications for losing the Canal Basin office etc, but i honestly can't remember what i was told, so it obviously wasn't a major concern at this present time. At the moment all the Cov Telegraph journalists are still very much "on the ground" in Cov, and certainly not working/producing from Birmingham.
 
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