Podcast Ep 32 - Cov's accounts discussed with football finance expert Kieran Maguire (18 Viewers)

[ThatCovPod]

Simon, John and James are joined by football finance expert Kieran Maguire to get to the bottom of the club's accounts, which were released on Thursday.



There's plenty of positives under Doug King, as the club look to be in a strong position moving forward.



#PUSB

Continue reading...

 

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[long way home]

Good listening and really positive, some may have a different outlook on DK if they listen.

 

[Sky Blue Pete]

Wtaf is John Dawkins on
How can sisu still own the golden share
I think he hears things in his head

 

[Sky Blue Goblin]

Not listened to it, but the golden share is in covcity co which is owned by Doug (previously was optima). Club can’t play without it.

 

[Captain Dart]

I read Kevin Maguire's summary on twitter and I didn't think it was as good as some I've read on this forum. I'll have a listen to this later and see if my opinion is changed.

 

[Sky Blue Pete]

It’s an interesting listen but it’s way more interesting hearing all the voices saying king is sisu, he takes money out the club, he hasn’t got much money, the loans will have to be repaid, we’re on borrowed time etc etc etc

All of which may be true I may be ignorant and the two on this podcast (mainly jd) are asking all the right questions

 

[Nick]

It’s an interesting listen but it’s way more interesting hearing all the voices saying king is sisu, he takes money out the club, he hasn’t got much money, the loans will have to be repaid, we’re on borrowed time etc etc etc

All of which may be true I may be ignoring and the two on this podcast (mainly jd) are asking all the right questions

Who was saying that?

 

[Flying Fokker]

Wtaf is John Dawkins on
How can sisu still own the golden share
I think he hears things in his head

Yep. That bit is confusing/unfounded. But the substance of the questioning was generally good.

Also commented on ticket pricing. That could be an issue with our demographic (My view). We ain’t going to back the club ahead of paying our bills.

 

[Viktor17]

Overall it's positive.

Don't go up we will have to cash in this summer (trade) but thats not new news.

Interesting we are at 80% wage v income, average is 99% in champ!!!!!

Clearly paying 1.3m rent a year not ideal and would be great to have further income stream, King v Ashley on this one..........

Again people entitled to view on DK, yes hes egotistical, but hes done a lot (huge) amount of good work on and off field. Including having bollocks to make the huge decision on MR, so credit where due. It could be a lot worse

 

[BinleyMegaSkyBlue]

Wtaf is John Dawkins on
How can sisu still own the golden share
I think he hears things in his head

Dawkins loves the sound of his own voice. Simon is pretty good and this was a good episode, but fuck me Dawkins is annoying.

 

[Sky Blue Pete]

Who was saying that?

Some explicitly some implicitly Jd mainly
And he would probably say he was just asking questions that everyone is thinking

Not that McGuire would know what the deal was the king and sisu

Why ask if dk has taken any money out the club? Nothing in the accounts shows this and what would km be able to say so it just feels strange to ask on a podcast

more interesting for me is where is the cashflow report and why would that not be shared?

 

[clint van damme]

Yep. That bit is confusing/unfounded. But the substance of the questioning was generally good.

Also commented on ticket pricing. That could be an issue with our demographic (My view). We ain’t going to back the club ahead of paying our bills.

To be fair our ticket pricing isn't too bad.
There's a few things I'd tweak personally but the conflict between paying your bills and leisure spend is going to be an increasing issue across the sports and entertainment industry as many peoples disposable income keeps shrinking.

 

[TomRad85]

Some explicitly some implicitly Jd mainly
And he would probably say he was just asking questions that everyone is thinking

Not that McGuire would know what the deal was the king and sisu

Why ask if dk has taken any money out the club? Nothing in the accounts shows this and what would km be able to say so it just feels strange to ask on a podcast

more interesting for me is where is the cashflow report and why would that not be shared?

Dawkins is just one of those people eating humble pie over King so he'll try and dig for anything.

 

[TomRad85]

Just reading that West Brom have reported losses of £33.9 million.

 

[clint van damme]

Just reading that West Brom have reported losses of £33.9 million.

33 million of that was payment to us to take Asante off their hands.

 

[Gynnsthetonic]

Dawkins likes to think hes important and is part of the club. He's just a fan like the rest of us and needs to pipe down.

 

[Mucca Mad Boys]

Overall it's positive.

Don't go up we will have to cash in this summer (trade) but thats not new news.

Interesting we are at 80% wage v income, average is 99% in champ!!!!!

Clearly paying 1.3m rent a year not ideal and would be great to have further income stream, King v Ashley on this one..........

Again people entitled to view on DK, yes hes egotistical, but hes done a lot (huge) amount of good work on and off field. Including having bollocks to make the huge decision on MR, so credit where due. It could be a lot worse

Why do people think King is egotistical? If he was, he wouldn’t have U-turned on many things. Egotists don’t tend to admit they’re wrong and to his credit, he has several times.

At the fans forum after Robins sacking, if anyone spoke to me as they did to him, I would get arsey them and imagine many people would react similarly.

There was one person at the forum in particular who gave it large to him saying how he’d made all these mistakes and this was the latest one too King’s face… I bet that gentleman feels silly right now.

I’m largely indifferent to King, never sing his song and as long as the team is competitive and the club is run well, I’m happy. Two things that have been true since he took over.

 

[Mucca Mad Boys]

Dawkins likes to think hes important and is part of the club. He's just a fan like the rest of us and needs to pipe down.

Yep, calling King SISU 2.0 explains why he’s got an axe to grind with him. Safe to say we can take what he says about King with a pinch of salt.

 

[Nick]

Yep, calling King SISU 2.0 explains why he’s got an axe to grind with him. Safe to say we can take what he says about King with a pinch of salt.

Isn't it because he put the box prices up?

 

[clint van damme]

Isn't it because he put the box prices up?

To be fair there was a genuine beef over box prices but Dawkins does seem to have an axe to grind over everything King does.
He's the flip side of those in our support elwho if they found King in bed with their missus they'd tuck him in and make him a cup of coco

 

[fernandopartridge]

Yep, calling King SISU 2.0 explains why he’s got an axe to grind with him. Safe to say we can take what he says about King with a pinch of salt.

It's because he put the price of the box up

 

[JimmyHillsbeard]

Overall a decent listen but was super annoying to have two hosts join later and then repeat questions that had already been asked.

Also, and he’s a former colleague of mine, but football finance expert KM isn’t particularly well informed about us. He’s only briefly scanned the accounts and doesn’t know much of the background - thinks King is a fan, assumes he’s content to plough millions into a loss making enterprise every year, presumes the model that requires selling good players every year is sustainable (i.e. that we have good players on long contracts who will command high fees) etc etc. all/most of these assumptions could turn out to be true but they might equally be wide of the mark.

 

[TomRad85]

To be fair there was a genuine beef over box prices but Dawkins does seem to have an axe to grind over everything King does.
He's the flip side of those in our support elwho if they found King in bed with their missus they'd tuck him in and make him a cup of coco

Isn't he just another one who's nose has been put out since the club has become more professionally run? Can't imagine his nose is in half as many players anus' as it used to be.

 

[Gynnsthetonic]

Dawkins stated he had a consortium ready to take over instead of King. What utter bullshit

 

[Sky Blue Goblin]

Taking the accounts at face value, all seems positive. Only concern I think we have still is the stadium (outside of being owner funded but that’s the entire league).

Rent seems high which I imagine would increase in the future. Then you realise the lost revenue in regards to the stadium name deal, hotel rent, office space rent, food and drinks and parking alongside events in the arena and do feel we are losing out on a lot of income which would help the books.

If Frasers refuse to sell, it could hurt us in the long term imo. Of course building a new arena would cost a small fortune which we don’t have, so hopefully they sell up.

 

[vow]

Clearly paying 1.3m rent a year not ideal and would be great to have further income stream, King v Ashley on this one..........

Is the £1.3M rent true?
if so, thats exactly what we were meant to pay back in the early days of the Ricoh/Higgs/Council and we left for Northampton!

Still seems a little excessive for 23 matchdays a year, even if we're in the Championship as opposed to L1/L2!

 

[Viktor17]

Why do people think King is egotistical? If he was, he wouldn’t have U-turned on many things. Egotists don’t tend to admit they’re wrong and to his credit, he has several times.

At the fans forum after Robins sacking, if anyone spoke to me as they did to him, I would get arsey them and imagine many people would react similarly.

There was one person at the forum in particular who gave it large to him saying how he’d made all these mistakes and this was the latest one too King’s face… I bet that gentleman feels silly right now.

I’m largely indifferent to King, never sing his song and as long as the team is competitive and the club is run well, I’m happy. Two things that have been true since he took over.

Can have an opinion of that, ive met him, non football related and friends in media have dealt with him, all of same opinion.

Just because I hold that view, doesnt mean hes bad! I think he's done a lot of good.

 

[Sky Blue Pete]

Yep. That bit is confusing/unfounded. But the substance of the questioning was generally good.

Also commented on ticket pricing. That could be an issue with our demographic (My view). We ain’t going to back the club ahead of paying our bills.

That’s really fair

 

[clint van damme]

Isn't he just another one who's nose has been put out since the club has become more professionally run? Can't imagine his nose is in half as many players anus' as it used to be.

Seems that way

 

[clint van damme]

Dawkins stated he had a consortium ready to take over instead of King. What utter bullshit

He said that on this podcast?

 

[MusicDating]

Is the £1.3M rent true?
if so, thats exactly what we were meant to pay back in the early days of the Ricoh/Higgs/Council and we left for Northampton!

Still seems a little excessive for 23 matchdays a year, even if we're in the Championship as opposed to L1/L2!

Yes, but as another poster pointed out on the accounts thread, with inflation that £1.2m in the rent row days would be about £2.4m now.

 

[Mucca Mad Boys]

Can have an opinion of that, ive met him, non football related and friends in media have dealt with him, all of same opinion.

Just because I hold that view, doesnt mean hes bad! I think he's done a lot of good.

Egotist and narcissist are two descriptors that get overused now, similarly to how people say ‘literally’ about non-literal things.

If you’ve met the guy and been around him for a period time, perhaps your opinion is informed. A lot of people say those things are uninformed and that makes me weary.

 

[Gynnsthetonic]

He said that on this podcast?

No after King took over, he said his bid was better than Kings

 

[Gynnsthetonic]

He said that on this podcast?

CBS Arena: Coventry City fan John Dawkins upset at administrators' 'silence' over bid

Coventry fan John Dawkins "cannot understand" why administrators have not considered his US-backed bid to buy the CBS Arena.

www.bbc.co.uk

 

[clint van damme]

CBS Arena: Coventry City fan John Dawkins upset at administrators' 'silence' over bid

Coventry fan John Dawkins "cannot understand" why administrators have not considered his US-backed bid to buy the CBS Arena.

www.bbc.co.uk

Oh right. Don't know what constitutes 'a better bid' but Kings bid was 'better' than Fraser groups in term of price offered but as it said in the article there was an exclusivity agreement signed.

I'm sure King would be open to offers if all they want is CCFC and aren't interested in the stadium.