fernandopartridge
Well-Known Member
It isn't profit but it's in Ashley's gift to turn more of the turnover into profit by optimising ACL costs (and they're no longer paying bond interest which'll help).
Mike Ashley Takeover …Ready and Waiting (28 Viewers)
- Thread starter Flying Fokker
- Start date
It isn't profit but it's in Ashley's gift to turn more of the turnover into profit by optimising ACL costs (and they're no longer paying bond interest which'll help).
Nick
Administrator
Wonder if he will get rid of people like Jackie Isaac who have been there for years.
SkyBlueCharlie9
Well-Known Member
How much developable land is there around the stadium? Cannot develop the car parks as protected by planning permissions and their loss would create more local parking problems. Not sure there is loads of space and Ashley/Sports Direct only builds crappy warehouse sheds. More out of town retail will impact hard on town centre too. I think he has eyes on the CCFC but willing to bide his time or maybe bring Duggy King on board as a partner.... total guesswork though.
shmmeee
Well-Known Member
Ive always wanted a bunch of bars by the canal and have that but better developed. I think the rumours for Ashley were a hotel (which has long been mooted and makes sense with the conferences) and a car park, I’m guessing multi-storey so they can free up the others?
SW-Sky Blues
Member
But this is the bit I'm worried about.
What benefit is it to Ashley if we are there?
As we saw yesterday the costs of running the arena are huge.
Yes you can cut some costs but there are unavoidable costs such as utilities which are constantly rising.
I just can't see how a football club turning over 1 million a year for the arena can yeald a profit for Ashley.
shmmeee
Well-Known Member
Who else is going to play on the pitch and sell a bunch of tickets every other week?
Mmm car parks are like printing money
Image if the club had that
CCFC_Irish
Well-Known Member
If I was travelling to Coventry, staying near the CBS would be the last place I would stay. If I was an away fan travelling...
nicksar
Well-Known Member
Demolition of the Stadium would cost an absolute fortune,I agree it's not going to happen.
SW-Sky Blues
Member
Does it really tho?
But let's say he wanted to knock it down. He would have paid for the arena and then the demolition costs and then construction costs. If he can then build something there that is then more valuable than the cost of those things then on paper they are then in profit. Especially if they then have businesses there that create healthy profits.
SW-Sky Blues
Member
That's where we are going wrong. Thinking that Ashley needs us.
He doesn't. He can knock it down and build something else there if he so wishes.
Grendel
Well-Known Member
Er he can’t
CCFC_Irish
Well-Known Member
Out of curiosity, how much office space is in CBS?
fernandopartridge
Well-Known Member
Not to mention the intangible value of it exposing the arena every other week
fernandopartridge
Well-Known Member
SW-Sky Blues
Member
Why not?
fernandopartridge
Well-Known Member
Because he'll need the consent of the freeholder I would imagine first and then planning consent second, then a lobotomy to think it's a good idea
SW-Sky Blues
Member
Anyone can put in a planning application for land even if they do not own it. Very much doubt permission could legally be refused based on a football team playing there.
Consent of the freeholder, yes maybe but that depends on what the contract says that none of us have seen. This is CCC, I'd not trust them to have something robust.
And based on Simon Jordans comments yesterday, it seems the council wouldn't be against it being developed into something else.
Nick
Administrator
why have you signed up just to push this?
shmmeee
Well-Known Member
Of course it could!
It has to fit with the local plan, change of use would need to be considered, etc it’s hardly PD!
Skyblueweeman
Well-Known Member
The thing is, there's a large exhibition hall that can get 12,000 in. A stadium bowl that can accommodate 40k for concerts. There's a hotel onsite which has less than 200 bedrooms (I think - memory not what it used to be).
The ratio of bedrooms to potential visitors to events is stupidly low. Any new hotel would be built to help attract larger multi-day conferences, exhibitions etc as there's more bedroom stock to house them. As it stands, I'm sure the Arena misses out on a lot of business due to insufficient amount of bedrooms near the venue.
As for the rest of the time when there's no events on at the Arena? The location means it would be a decent stop for transient business travellers although transient business travel isn't what it was pre-pandemic. Add on social events like weddings, Xmas etc, there's definitely validation for one or more new hotels on the Arena grounds.
SW-Sky Blues
Member
Cos I'm really concerned about our future of playing in Coventry!!!
Nick
Administrator
I was only quoting the head of planning who said a hotel wasn't needed and then denied planning permission for one privately...
Nick
Administrator
Where have you been the last 20 years?
SW-Sky Blues
Member
Yesterday my hopes were raised that we'd have a new owner and we'd finally have our hands on the CBS. Today I feel really deflated.
Skyblueweeman
Well-Known Member
From the Council?
Ccfc1979
Well-Known Member
Having read (mostly) everything it seems like SISU are using King and paying him for his time to bolster their investment. Ashley knows they have no pot to piss in and so he wanted to use that to pay less for CCFC. However, now they have ‘sold’ 85% to someone saying no sales in January and who proved funding for a late (never to be possible) £25m bid for the stadium it looks like they can play hard ball with him and tackle discussions from a position of more strength to eek a few million more out of the deal. No way Ashley goes from looking to buy ground and club at Derby to buying a football ground without owning a team to play in it.
Darth Robins
Well-Known Member
I'll say this much, Ashley is certainly a change from those years of wondering if anyone had even seen our owner!
fernandopartridge
Well-Known Member
I bow to your knowledge of the industry, but with that being the case why hasn't it happened?
There are two proposals for a hotel with planning permission in the immediate vicinity:
Rowleys Green Lane: Coventry City Council: Planning Application Details (74 bedroom budget looking hotel - permission applied for originally in 2019 but not granted until October 2021, so perhaps economic downturn is the reason?)
Car Park C: Coventry City Council: Planning Application Details (150 room hotel - granted permission applied for in 2020 and granted permission October 2020)
Grendel
Well-Known Member
How many hotels does the NEC actually have - there’s a couple but it doesn’t seem that many
Nick
Administrator
Yeah
She turned down planning for a hotel and drive through by the ricoh without letting it go to vote because she said it would take custom from the city centre.
fernandopartridge
Well-Known Member
There are at least half a dozen (albeit some serve the airport as much as the NEC)
robbiethemole
Well-Known Member
Perhaps the regeneration or the Judds Lane area, scrap yard and stuff is part of the deal? How big a hotel could be built on that bit alone, plus maybe a new outlet shop and a couple of bars. It’s all just a bit sad looking around there. Just a thought.