HuckerbyDublinWhelan
Well-Known Member
I’ll trump that with “sold debt free and became the richest club in the world”
Wasps going into admin & the impact on CCFC (244 Viewers)
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That was just one of the issues that Grendel had flagged though - he's been calling it a white elephant for years. I don't even disagree with him, I'm just curious why an Arena with a rubbish location, no parking, dominant rivals nearby and concerts that don't make any money would obviously attract significant interest.
GIMOC
Well-Known Member
It’s like a throwback to mid 2010’s
mmttww
Well-Known Member
Bloke appoints managers based on who he gets pissed with and runs his companies like sweat shops. Newcastle got relegated more than once under him and huge TV deals kept them "debt free", not his business skills.
HuckerbyDublinWhelan
Well-Known Member
But he spent to get them to the premier league each time. I’m not saying he’ll get us top half of the prem. but we’d be happy yoyoing between the prem and championship
SkyblueDad
Well-Known Member
At the time we had a Tory council and it would have been a 50/50 split and I’m certain included the airport.
Grendel
Well-Known Member
Yawn
The NEC operation would not be a dominant rival would it and it’s said it would synergies costs and use to supplement its own bookings
The Armstrong bid would encounter exactly the same issues and fail. Ashley would probably fail as in terms of yield but would still see it as a portfolio additional worth taking a hit on
SkyblueDad
Well-Known Member
Anyone thinking Ashley wouldn’t be a better thing I’ll give you two words, well three, Sixfields & St.Andrews
MusicDating
Euro 2016 Prediction League Champion!!
Awww and they were so close! Curse you Covid...
Where has NEC said that?
So all the other bids would be essentially non-starters except for NEC then in your view?
SkyblueDad
Well-Known Member
As my football club I’d prefer a location closer to town like we had at HR but accept reluctantly what we now have but as a commercial venue such as a link to the NEC or similar imo it’s in an ideal position right on the motorway system room to expand too.
jordan210
Well-Known Member
Did he really say this today ?
If I combine my net wealth with Elon Musks im now joint richest man in the world
Grendel
Well-Known Member
Sky News have said Blackstone want to acquire venues across the West Midlands - it will run as part of the same company
Armstrong bid looks the same shambles as before.
Ashley of course will if successful drive the cost down and not be saddled with the debt. He will then almost certainly look to purchase the football club and try and drive the football clubs success upwards so that the value will escalate. I have my doubts this will succeed - he will also without question use it to promote his brand.
Whoever gets it its pretty safe to say the purchase value is never meeting shareholder expectations and unless its the event management arm I am doubtful it will succeed. The Armstrong bid looks about as worthwhile as the Richardson consortium
oldskyblue58
CCFC Finance Director
Bit of perspective about Ashley based on published financials
I think a lot of the criticism of Ashley's involvement with NU stems from the fans over inflated ideas of what the club could achieve without a multi billionaire to back it. They expected to win the cups, leagues etc, instead results some seasons took them down and of course back up- is that the owner or the manager/players fault?
He took over in 2007, the balance sheet for the group had a value of minus £16m
By 30/06/2021 the balance sheet stood at plus £8M (including the amount owed to him)
During that period NU had purchased £554m worth of players and sold £347m worth
player value 30/06/2021 £102m per the balance sheet in 30/06/2007 it was £41m
By 30/06/2021 Ashley controlled companies were owed £107m. Most of which £100M came in 2007/2008 and accrued interest at 0.5% above Libor although it was not always charged. A quick look at the financials did not reveal huge interest charges
Hardly a scene of an owner not backing the club, seems to have left NU in a better place than when he found it ...... and encouraged a multi billionaire to step in
. Not a man i instinctively like (quite the opposite) based on some of his other actions away from NU but as a football club owner he seems to have been more of a positive than a negative
I think a lot of the criticism of Ashley's involvement with NU stems from the fans over inflated ideas of what the club could achieve without a multi billionaire to back it. They expected to win the cups, leagues etc, instead results some seasons took them down and of course back up- is that the owner or the manager/players fault?
He took over in 2007, the balance sheet for the group had a value of minus £16m
By 30/06/2021 the balance sheet stood at plus £8M (including the amount owed to him)
During that period NU had purchased £554m worth of players and sold £347m worth
player value 30/06/2021 £102m per the balance sheet in 30/06/2007 it was £41m
By 30/06/2021 Ashley controlled companies were owed £107m. Most of which £100M came in 2007/2008 and accrued interest at 0.5% above Libor although it was not always charged. A quick look at the financials did not reveal huge interest charges
Hardly a scene of an owner not backing the club, seems to have left NU in a better place than when he found it ...... and encouraged a multi billionaire to step in
. Not a man i instinctively like (quite the opposite) based on some of his other actions away from NU but as a football club owner he seems to have been more of a positive than a negative
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torchomatic
Well-Known Member
No, not today. When they first moved to Coventry.
torchomatic
Well-Known Member
Seeing how Dunlop Greenflash perform in December should be fun to watch.
HuckerbyDublinWhelan
Well-Known Member
So on average they spent 15m a season on players under Ashley?Bit of perspective about Ashley based on published financials
I think a lot of the criticism of Ashley's involvement with NU stems from the fans over inflated ideas of what the club could achieve without a multi billionaire to back it. They expected to win the cups, leagues etc, instead results some seasons took them down and of course back up- is that the owner or the manager/players fault?
He took over in 2007, the balance sheet for the group had a value of minus £16m
By 30/06/2021 the balance sheet stood at plus £8M (including the amount owed to him)
During that period NU had purchased £554m worth of players and sold £347m worth
player value 30/06/2021 £102m per the balance sheet in 30/06/2007 it was £41m
By 30/06/2021 Ashley controlled companies were owed £107m. Most of which £100M came in 2007/2008 and accrued interest at 0.5% above Libor although it was not always charged. A quick look at the financials did not reveal huge interest charges
Hardly a scene of an owner not backing the club, seems to have left NU in a better place than when he found it ...... and encouraged a multi billionaire to step in
id enjoy that summer
SlowerThanPlatt
Well-Known Member
Well yeah but with a turnover probably about 15x ours too!
shmmeee
Well-Known Member
Calista
Well-Known Member
Aren’t there basically three businesses? The Arena / stadium; Coventry City Football Club; Wasps Rugby Union.
The football club is never going to own the Arena, and nor is the rugby club. Wasps (rugby club) didn’t ‘steal our stadium’. One hedge fund took it from under the noses of another. Sisu excluded themselves from ownership by a string of immoral and stupid actions, and another bunch of smart arses sold the Council the dream of elite sport which has gone belly up. The rugby franchise isn’t something we’ve ever had any control over, so all the moral arguments are academic. If they are a financial sinkhole, the new owners of the stadium will want to move them out again, but if they can be run as a top team that people enjoy watching and help turn the whole place into a viable business, I dare say they’ll try to do that.
There will always be a complex structure of separate companies. If the same entity ultimately owns both the stadium and CCFC, that probably helps, but is it essential? What matters to me is that whoever owns the place is ambitious enough to recognise the potential of a successful football side, and has financial stability and deep enough pockets to promote that. Sisu don’t tick any of those boxes, so why would we want them to have the Arena (either in the past or now)?
Whoever buys the Arena, please nurture CCFC and find a way to get Sisu out of town.
The football club is never going to own the Arena, and nor is the rugby club. Wasps (rugby club) didn’t ‘steal our stadium’. One hedge fund took it from under the noses of another. Sisu excluded themselves from ownership by a string of immoral and stupid actions, and another bunch of smart arses sold the Council the dream of elite sport which has gone belly up. The rugby franchise isn’t something we’ve ever had any control over, so all the moral arguments are academic. If they are a financial sinkhole, the new owners of the stadium will want to move them out again, but if they can be run as a top team that people enjoy watching and help turn the whole place into a viable business, I dare say they’ll try to do that.
There will always be a complex structure of separate companies. If the same entity ultimately owns both the stadium and CCFC, that probably helps, but is it essential? What matters to me is that whoever owns the place is ambitious enough to recognise the potential of a successful football side, and has financial stability and deep enough pockets to promote that. Sisu don’t tick any of those boxes, so why would we want them to have the Arena (either in the past or now)?
Whoever buys the Arena, please nurture CCFC and find a way to get Sisu out of town.
SHUNT31
Well-Known Member
AOM
Well-Known Member
Replacing Hummel with Slazenger
oldskyblue58
CCFC Finance Director
yes
from 2018 to 2021 they spent 227m on players and recouped 145m
some fans can make a lot (most) of the noise without being particularly well informed or simply choosing not to listen and use their own eyes.
chiefdave
Well-Known Member
Most people want them gone from what I can see on this thread, who is suggesting screwing CRFC over?
SlowerThanPlatt
Well-Known Member
What were their turnovers in that period compared to ours in last accounts (£11.8m)
Anyone entertaining/supporting a Mike Ashley takeover of CCFC is also hoping for a future where Wasps' future in Coventry is not only secured, but their fortunes are directly tied to those of Coventry City for the foreseeable future as well. Sorry Cov!
Legia Sky Blue
Well-Known Member
If the Trust had anything about it, the information on which councillors are CCFC friendly should already be known and ready to act on if necessary. Unfortunately I suspect that forms no part of their agenda.
SHUNT31
Well-Known Member
Not at all. I would be open to Ashley but hope them fuckers burn.
Ashley won’t want the rugby club. He will be using it as an angle in for the football club.
Ashley is only going to take on Wasps if they go into admin. If they do, they get relegated and lose their P share. No money in Rugby.
As a club, we have decent potential. We could be a prem side with a decent facility which will mean a tidy profit when sold.
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Not many, yet, but we're only a few hours in I suppose:
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