ACL £1m profit? (9 Viewers)

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Diehard Si

Diehard Si

New Member
Taken from twitter:

KevinReide (Kevin Reide)

#ccfc #pusb Arena Coventry Ltd who operate the Ricoh Arena, has just filed accounts showing profit of over one million pounds: £1,086,886


Can someone verify?

That's got to be a blow to CCFC, I wonder if they have recognised the rent owed or provided against it.
 
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RoboCCFC90

Well-Known Member
Yeah beacuse they have all the revnue streams that come in via CCFC, some people will say "Yeah and they bought the right to get that cash flowing in" but it's the Football Club's and an agreement between the club and ACL needs to be made to ensure the club get it back!!!!
 
Grendel

Grendel

Well-Known Member
More evidence they are profiteering and the fans expense. Still in the words of valiant most will bend over and take it time and time again.
 
Mucca Mad Boys

Mucca Mad Boys

Well-Known Member
The RICOH was an Olympic venue, I wouldn't be surprised if they made 1m profit without payment of rent due from CCFC, however, the years after will make an interesting reading.

Have to admit, I feel annoyed because our club could be having a piece of the action!
 
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skybluehugh

New Member
Grendel said:
More evidence they are profiteering and the fans expense. Still in the words of valiant most will bend over and take it time and time again.
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How about the concerts, Olympics and all the other streams. That they manage so much better than our owners ever could.
 
lordsummerisle

lordsummerisle

Well-Known Member
skybluehugh said:
How about the concerts, Olympics and all the other sreams. That they manage so much better than our owners ever could.
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Do we,(when we) pay for it, pay for it for the whole year?

Obviously not privy to any agreements, but is it for so many days use a year we pay for?

If not, should we be entitled to any share in revenue from other events or a large discount?

PWKH would have the details i'm sure.
 
oldskyblue58

oldskyblue58

CCFC Finance Director
SBT ....... year end for ACL is 31/05/12 the Olympics were after that and will be in next years accounts....... so that might soften any bad debt in the last 12 months.

othe stuff

The accounts are confirmed as at company house but not yet available to download

So assertions of profit, ripping off etc are as yet wide of the mark............. there may well be very good reasons why ACL make a surplus that have nothing to do with CCFC.

have said, for literally years, that CCFC should have the football club income streams .......... just got to buy back what they have already had hard cash for. There are no free lunches in business. Those income streams could have been repurchased for relatively modest amounts years ago but CCFC, its board and owners chose not to.
 
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skybluehugh

New Member
lordsummerisle said:
Do we,(when we) pay for it, pay for it for the whole year?

Obviously not privy to any agreements, but is it for so many days use a year we pay for?

If not, should we be entitled to any share in revenue from other events or a large discount?

PWKH would have the details i'm sure.
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I wouldn't disagree with you on the usage. But do you really think our owners wouldn't have already looked at that side of things but they have only ever said about the food and beverage, so I don't see it being an issue
 
Grendel

Grendel

Well-Known Member
oldskyblue58 said:
SBT ....... year end for ACL is 31/05/12 the Olympics were after that and will be in next years accounts....... so that might soften any bad debt in the last 12 months.

othe stuff

The accounts are confirmed as at company house but not yet available to download

So assertions of profit, ripping off etc are as yet wide of the mark............. there may well be very good reasons why ACL make a surplus that have nothing to do with CCFC.

have said, for literally years, that CCFC should have the football club income streams .......... just got to buy back what they have already had hard cash for. There are no free lunches in business. Those income streams could have been repurchased for relatively modest amounts years ago but CCFC, its board and owners chose not to.
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A lot if other clubs at council built stadiums seem to have had a lot cheaper lunches though don't they?
 
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skybluehugh

New Member
SkyBlue_Taylor said:
The RICOH was an Olympic venue, I wouldn't be surprised if they made 1m profit without payment of rent due from CCFC, however, the years after will make an interesting reading.

Have to admit, I feel annoyed because our club could be having a piece of the action!
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If they had taken up the offer of buying the 50% stake, they would have had it. Wasn't that a big part of their plan when they took over
 
oldskyblue58

oldskyblue58

CCFC Finance Director
Grendel said:
A lot if other clubs at council built stadiums seem to have had a lot cheaper lunches though don't they?
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Always a price in one way or another, you know that as well as i do

but the main point is that they could have bought back what they sold and gained the benefit from it............ didnt actually need to own the stadium or its lease to do that. Yes the rent is too high but there were other options and ways of getting something better. Even ways to gain income streams where an earn out deal could have been structured so no up front payment. Far from being a situation where income streams have been denied, the truth is the owners have screwed up from day one, the previous owners were no better. But I guess it is everyone elses fault again

Financially I have very little any sympathy for the owners.............. my sympathy is with the club and above all its supporters
 
Sky Blue Pete

Sky Blue Pete

Well-Known Member
oldskyblue58 said:
Always a price in one way or another, you know that as well as i do

but the main point is that they could have bought back what they sold and gained the benefit from it............ didnt actually need to own the stadium or its lease to do that. Yes the rent is too high but there were other options and ways of getting something better. Even ways to gain income streams where an earn out deal could have been structured so no up front payment. Far from being a situation where income streams have been denied, the truth is the owners have screwed up from day one, the previous owners were no better. But I guess it is everyone elses fault again

Financially I have very little any sympathy for the owners.............. my sympathy is with the club and above all its supporters
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Absolutely
 
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MichaelCCFC

New Member
I have previously posted that I couldn't undestand why ACL didn't make a profit cos conferences etc looked like a goldmine. But those saying ACL have got their act together look like they're being proved right. I'm not sure where this leaves TF's comments about ACL nor the argument that ACL can't survive without CCFC
 
coundonskyblue

coundonskyblue

New Member
<p>
lordsummerisle said:
Do we,(when we) pay for it, pay for it for the whole year? </p>
<p>&nbsp;</p>
<p>Obviously not privy to any agreements, but is it for so many days use a year we pay for?</p>
<p>&nbsp;</p>
<p>If not, should we be entitled to any share in revenue from other events or a large discount?</p>
<p>&nbsp;</p>
<p>PWKH would have the details i'm sure.
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Had a competitive Ccfc game conflicted with an Olympic game then the ccfc game would have got priority.
 
Grendel

Grendel

Well-Known Member
MichaelCCFC said:
I have previously posted that I couldn't undestand why ACL didn't make a profit cos conferences etc looked like a goldmine. But those saying ACL have got their act together look like they're being proved right. I'm not sure where this leaves TF's comments about ACL nor the argument that ACL can't survive without CCFC
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How much is the Ricoh and other associated sponsorhip deals worth? Once the club leaves those deals will in all probabilty be cancelled. Whatever people say the football club is the driving force behind the whole arena. Sponsors look at google hits media drivers and the resident sporting inhabitant is the driving force. Of course this is merely my opinion and if someone can demonstrate otherwise I will gladly be corrected.
 
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Grendel

Grendel

Well-Known Member
coundonskyblue said:
<p>

Had a competitive Ccfc game conflicted with an Olympic game then the ccfc game would have got priority.
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Given the Olympics is a summer event so what -- or are they bidding to do Curling there now?
 
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PWKH

New Member
Grendel said:
How much is the Ricoh and other associated sponsorhip deals worth? Once the club leaves those deals will be cancelled.
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You write as though you have seen the contracts. You are speculating. It would be more honest if you were to admit that most of what you say is stabbing in the dark, with a chance that you will be correct some of the time. This is another one of those times when you are wrong.
 
Otis

Otis

Well-Known Member
Don't think any of us on here truly know PWKH. And you can only give one side of the story too (not that we don't appreciate that of course).
 
Mucca Mad Boys

Mucca Mad Boys

Well-Known Member
skybluehugh said:
If they had taken up the offer of buying the 50% stake, they would have had it. Wasn't that a big part of their plan when they took over
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Who is they? It wasn't SISU was it.

That weren't criticising ACL, that was criticising the half-wits who sold it. If the Alan Higgs Charity don't sell what they paid for the shares (in line with inflation) then it will be a travesty and totally taking advantage of the club.
 
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PWKH

New Member
Otis said:
Don't think any of us on here truly know PWKH. And you can only give one side of the story too (not that we don't appreciate that of course).
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Of course most people don't have the insider knowledge that I have. I respect those who try to fathom out what is happening and make educated guesses and try to analyse everything that is published. When supposition and guesswork is made to sound like fact and used to demolish someone else's argument I want to state the fact. Most of the time I can't. This time Grendel went too far. He often has said that when/if CCFC are not at the Ricoh the sponsorship contracts fall in. He states it as a matter of fact. He is ignorant of the facts and seems not to have the humility to acknowledge it when it is an opinion. All opinions are valid: but they are just opinions. To make an opinion appear as fact gives no respect to the other person and is a dishonest way of arguing. If the only way you can win a point is to make it up you are a pretty pathetic specimen.

Most posters do not pretend to KNOW. Grendel pretends to KNOW.
 
Stevec189

Stevec189

New Member
Grendel said:
How much is the Ricoh and other associated sponsorhip deals worth? Once the club leaves those deals will be cancelled.
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What on earth makes you think that a company would not want the naming rights of a successful exhibition and concert space? The LG arena, O2 arena, whatever the Manchester one is called(used to be the GMex?). Your view of the value of a third division football club way over the top! ACL it would appear are a successful business without the football club but of course it's owners should just give it away to a bunch who have a track record that frankly does not add up to too much scrutiny. As stated elsewhere it is fans of the club that are suffering for years of poor management.
 
Mucca Mad Boys

Mucca Mad Boys

Well-Known Member
PWKH said:
You write as though you have seen the contracts. You are speculating. It would be more honest if you were to admit that most of what you say is stabbing in the dark, with a chance that you will be correct some of the time. This is another one of those times when you are wrong.
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But you can't guarantee that Grendel is not right, can you?

I think it is very likely many people would pull out of sponsorship deals if CCFC cease to play at the Arena.
 
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SkyblueBazza

Well-Known Member
Oh dear PWKH..."This time Grendel went too far" - but he got what he will consider a productive response. He's gonna be on at ya all the time now :-/
 
oldskyblue58

oldskyblue58

CCFC Finance Director
So just so i have this straight before we actually see any figures ..........

If ACL make a loss then it is a failing business ........... (TF words............. how accurate his "failing company" would seem to be huh :whistle:)

If ACL make a small profit say £500k it is under achieving and could be run better by someone else and should never be owned by a council an/or charity ........ ( words of one s linnell paraphrased yet ACL continue to make profit)

if ACL make profits over say £1m they are ripping the club off and couldnt have done primarily without the club............ (see various posts on SBT)

So what ever they do they are wrong and deserve no credit :thinking about:

Please correct me if I have misunderstood.
 
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SkyblueBazza

Well-Known Member
oldskyblue58 said:
So just so i have this straight before we actually see any figures ..........

If ACL make a loss then it is a failing business ........... (TF words............. how accurate his "failing company would seem to be huh :whistle:)

If ACL make a small profit say £500k it is under achieving and could be run better by someone else and should never be owned by a council an/or charity ........ ( words of one s linnell paraphrased yet they continue to make profit)

if ACL make profits over say £1m they are ripping the club off and couldnt have done primarily without the club............ (see various posts on SBT)

So what ever they do they are wrong and deserve no credit :thinking about:

Please correct me if I have misunderstood.
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Depends which posts/posters you take notice of
 
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procdoc

Well-Known Member
Grendel's had his pants pulled down here. He's just a cyber bully, if you don't agree with him you're wrong.
 
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