The next step for the Ricoh (13 Viewers)

[RegTheDonk]

Doesn't need to be on the grass though does it for them to still make money. Haven't we seen the Enemy inside and the specials to name a few and bigger acts like Florence and the Machine. They can have the 'big name acts' (as numb nuts calls them as he is obviously into Bon Jovi to class them as big) in the better weather months. I've seen a few good day and night long gigs at MK Bowl and its a fucking nightmare to get to and out of, if they had a couple there and realised how easy access is would it not snowball ? If as we are told by Sisu that they have lined up AEG to run it, does this not show the potential for the stadium considering how big they are ?

Agreed Gent. Used to go evey year to the IOV trade show, which ran for 3 days. Next April Bank Holday Weekend they've signed up the Insomnia gaming event. It does seem to be getting a lot more events than I thought it would.

 

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[The Gentleman]

I can't imagine we get a resolution this season, but it'll be after the JR baring in mind there are no appeals.

But there in lies some of the problem, as we know there will be appeals, especially if it goes against Sisu. But think about it, if Sisu were to take up the offer, could this prove that they were not trying to distress ACL/CCC and therefore work in their favour (god, I hope i'm not giving them ideas).

 

[The Gentleman]

Agreed Gent. Used to go evey year to the IOV trade show, which ran for 3 days. Next April Bank Holday Weekend they've signed up the Insomnia gaming event. It does seem to be getting a lot more events than I thought it would.

For me it's all about location, I could throw a stone to the M6 and you have the M1, M5, M40 and M42 all within spitting distance. Prospective clients would be rubbing their hands with the access and the amount of people from every direction in the country.

 

[wingy]

For me it's all about location, I could throw a stone to the M6 and you have the M1, M5, M40 and M42 all within spitting distance. Prospective clients would be rubbing their hands with the access and the amount of people from every direction in the country.

Its just Far enough out of Brum to be away from the snarl ups.

 

[RoboCCFC90]

But there in lies some of the problem, as we know there will be appeals, especially if it goes against Sisu. But think about it, if Sisu were to take up the offer, could this prove that they were not trying to distress ACL/CCC and therefore work in their favour (god, I hope i'm not giving them ideas).

That's just being hopeful. I think every man and his dog, excluding Tim Fisher knows that Sisu are trying to distress CCCoucil/ACL.

 

[SIR ERNIE]

The next step for the Ricoh

CCC must fancy the idea of washing their hands of the Ricoh, so I'd like to see them get a freehold valuation and then put it up for sale.

Turn the 'asset' into cash and stick two fingers up to SISU.

 

[ginja]

Hello all, so as a fellow football fan I've been following your plight. Despite the rivalry among all clubs, it always saddens me to see bad things like this happening to something that means so much to a lot of people. I'm also a huge gamer and I've been attending Insomnia for a couple of years now. If you have any questions about the event and what implications it will have on the Ricoh then ask away. Before Ricoh this was held in Telford, so personally this move is welcome for me as it's less than an hour away but I don't see that our event moving to the Ricoh spells the end of CCFC ever returning there.

Couple of points I've already seen...

1. The 10k figure is a bit of an exaggeration, Insomnia takes place 3 times a year running in Spring, Summer and then Winter LAN. The 10k figure is really only applicable to the Summer LAN which will sell roughly 3k BYOC(Bring your own pc) tickets, the Easter and Winter LAN will be significantly quieter selling around 1k BYOC. The rest of the attenders will be day tickets, paying about £10 to access the event for the day. BYOC makes the bulk of the income for the event as we have 24hr access and drink an excessive amount.

2. The Easter break, as it stands we have been offered any bank holidays throughout the year, however we have the last few years been running the event not on bank holidays. I don't believe this would be a block to CCFC ever coming back, we would simply revert to a weekend when you are playing an away game. The event does take place completely indoors but it wouldn't be possible IMO for us to both use the stadium on the same weekend. There was talk of a stage being put up on the pitch for the tournament finals but there is plenty of room inside the venue.

3. Camping will NOT be on the pitch, there is simply too many at a summer LAN for that, location of camping is below:
http://tinyurl.com/qjfvtq2

 

[skybluetom]

Then I think you fail to understand what is actually going on at the Ricoh. They are not set up on the basis of requiring lots of major concerts/events to make it work. They dont set out to host major events every week. Turnover rather than falling away because CCFC are not there has increased and we are told predicted to be over £13m in the year to 31/05/14. In 2012 Turnover was 7.7m. The bowl itself will have costs but not massive costs, Pitch maintenance (wont need much repair if not used) Painting of the metal works, Concrete doesnt deteriorate quickly - there will be events in the bowl that I would guess cover those costs. The profits can be made elsewhere. It isnt about filling the stadium bowl any more - it is about making the rest of the site sweat

Turnover is one thing, how much profit though? Its profits had been slim (if any) minus the rent paid by ccfc up to the point we left. Then within 12 months of ccfc withdrawing rent the council had to step in to bailout ACL for fear of them going under; either there has been a massive turnaround in fortunes in the last 6 months or they're struggling.

 

[TheRoyalScam]

Turnover is one thing, how much profit though? Its profits had been slim (if any) minus the rent paid by ccfc up to the point we left. Then within 12 months of ccfc withdrawing rent the council had to step in to bailout ACL for fear of them going under; either there has been a massive turnaround in fortunes in the last 6 months or they're struggling.

The 'bailout' wasn't for fear of them going under - it was because Yorkshire Bank was getting twitchy feet over the £14m mortgage.

ACL have consistently made a profit - the Ricoh itself is a great facility which should and could yet be a jewel in Coventry's crown.

The idea of selling the freehold to a hedge fund is in my opinion abhorrent - it wouldn't be owned by CCFC at all - it would be owned by the faceless behemoth that is Otium/SISU, and ultimately by Arvo Master Fund which owns the whole stinking caboodle.

 

[fernandopartridge]

The 'bailout' wasn't for fear of them going under - it was because Yorkshire Bank was getting twitchy feet over the £14m mortgage.

ACL have consistently made a profit - the Ricoh itself is a great facility which should and could yet be a jewel in Coventry's crown.

The idea of selling the freehold to a hedge fund is in my opinion abhorrent - it wouldn't be owned by CCFC at all - it would be owned by the faceless behemoth that is Otium/SISU, and ultimately by Arvo Master Fund which owns the whole stinking caboodle.

The bail out was for fear of them going under as a result of YB calling in the debt.

The council claims the loan was made on commercial terms to protect the council's investment in ACL when ACL's bank was threatening to call in its mortgage debt.
The full council in January voted in private to buy out ACL's Yorkshire Bank mortgage and refinance it as a loan to the Ricoh firm, meaning cheaper ACL mortgage payments.

 

[oldskyblue58]

Turnover is one thing, how much profit though? Its profits had been slim (if any) minus the rent paid by ccfc up to the point we left. Then within 12 months of ccfc withdrawing rent the council had to step in to bailout ACL for fear of them going under; either there has been a massive turnaround in fortunes in the last 6 months or they're struggling.

has been explained before tom but ...


the new loan saves something like 800k in cash flow and halves the interest to around 500k

Overheads are fixed so they wont grow to any significant degree because turnover does

there are fewer senior managers paid by ACL therefore wage costs like for like are down....... although some more staff may have been brought in due to higher turnovers. eg Daniel Gidney not replaced there is £200k saved

there have been efficiency savings done on power supply and water supply

there are economies of scale to be had in buying direct costs associated with the higher Turnover

Turnover may double but it doesnt mean that labour costs do.

margins on exhibition etc work are greater than supplying services to CCFC

losing the rent, licence and matchday income of CCFC also means losing some of the costs associated with the rent, licence and match day costs of CCFC

There have been alternative events, admittedly few in the stadium bowl but the other areas are working harder and are less labour intensive at least part of the time

The refinancing was done during the time CCFC were there and because non payment of the rent by CCFc meant that cash flow was running out to pay the loan payments. Either that or go bust and the council and charity lose their investment.

Not to mention in year to 31 may 2013 CCFC paid ACL at least £800k

Is cashflow tight probably because of the legal bills to be paid ....... are they struggling for business seemingly not, but it isnt in the stadium bowl yet...... turnover in 2013 over 12m predicted to be over 13m in 2014....... at higher levels of turnover are they expected to be more profitable certainly (excluding exceptional costs related to the dispute)

without CCFC can they make a decent business when you factor in the above ? .......

 

[Otis]

You're living in fucking dreamland if you think ACL can replace the football club as an anchor tenant. NFL? You're kidding yourself, they will only ever go to Wembley or maybe Manchester, not a backwater like Coventry. ACL/CCC have messed this up big time and when it crashes round their ears I hope it takes a few political careers with it.

ALL sides have messed this up big time.

 

[lordsummerisle]

has been explained before tom but ...


the new loan saves something like 800k in cash flow and halves the interest to around 500k

Overheads are fixed so they wont grow to any significant degree because turnover does

there are fewer senior managers paid by ACL therefore wage costs like for like are down....... although some more staff may have been brought in due to higher turnovers. eg Daniel Gidney not replaced there is £200k saved

there have been efficiency savings done on power supply and water supply

there are economies of scale to be had in buying direct costs associated with the higher Turnover

Turnover may double but it doesnt mean that labour costs do.

margins on exhibition etc work are greater than supplying services to CCFC

losing the rent, licence and matchday income of CCFC also means losing some of the costs associated with the rent, licence and match day costs of CCFC

There have been alternative events, admittedly few in the stadium bowl but the other areas are working harder and are less labour intensive at least part of the time

The refinancing was done during the time CCFC were there and because non payment of the rent by CCFc meant that cash flow was running out to pay the loan payments. Not to mention in year to 31 may 2013 CCFC paid ACL at least £800k

Is cashflow tight probably because of the legal bills to be paid probably....... are they struggling for business seemingly not, but it isnt in the stadium bowl yet...... turnover in 2013 over 12m predicted to be over 13m in 2014....... at higher levels of turnover are they expected to be more profitable certainly (excluding exceptional costs related to the dispute)

without CCFC can they make a decent business when you factor in the above ? .......

Sisu obviously not distressing ACL then, quite the opposite.

They should be applauded by all right thinking taxpayers and supporters of local charities for moving out and allowing ACL to make additional profits which can then be plowed into local projects.

Three cheers for Otium/Sisu!

 

[oldskyblue58]

..... personally I just want the club back at the Ricoh

I do think that the rent dispute have made ACL more commercial in their dealings though

 

[James Smith]

..... personally I just want the club back at the Ricoh

I do think that the rent dispute have made ACL more commercial in their dealings though

I've been saying for a while that they will move on if we don't go back there......

 

[Grendel]

I've been saying for a while that they will move on if we don't go back there......

I'm amazed all council own grounds haven't found a way of forcing clubs out of the ground. Booking physcic Sally every year is clearly the way forward.

 

[James Smith]

I'm amazed all council own grounds haven't found a way of forcing clubs out of the ground.

I'm not, I'm depressed that we're looking likely to be homeless for at least 5 years.

Booking physcic Sally every year is clearly the way forward.

You should see Dara O'Briain on Physic Sally or read the book Tickling the English, he rips into her.

https://twitter.com/daraobriain/status/116097667146321921

 

[RPHunt]

"physcic Sally"

James, I think you should be recommending him a book on basic English to start with.

 

[James Smith]

I'm amazed all council own grounds haven't found a way of forcing clubs out of the ground. Booking physcic Sally every year is clearly the way forward.

Good news for you though on the 28th April next year she's back at the Ricoh. Also doing Leicester and Leamington if they're closer for you.

Hey maybe we could ask her where the new ground is going to be, might know more than Mr Labovitch

 

[James Smith]

"physcic Sally"

James, I think you should be recommending him a book on basic English to start with.

He may have just been posting from his phone, very easy to make spelling mistakes doing that, I should know I've made a few.

 

[stupot07]

He may have just been posting from his phone, very easy to make spelling mistakes doing that, I should know I've made a few.

Ne to.


Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors

 

[Grendel]

"physcic Sally"

James, I think you should be recommending him a book on basic English to start with.

She's seen into the future and said next week you'll post some utter shite on a fans forum website.

Either she's really got the gift or she has just seen your posting history.

 

[RPHunt]

He may have just been posting from his phone, very easy to make spelling mistakes doing that, I should know I've made a few.

You could be right, it's quite easy for "I don't agree with you, old chap" to be misspelt as "Bore off, you moron".

 

[Jack Griffin]

You're talking 4-5 yrs for a resolution through the courts.

Edit; IMO

Yep, there will be no professional football in Coventry for that sort of time. I can't see any side yielding.

 

[Jack Griffin]

Good news for you though on the 28th April next year she's back at the Ricoh. Also doing Leicester and Leamington if they're closer for you.

Hey maybe we could ask her where the new ground is going to be, might know more than Mr Labovitch

That would be sooooo funny.

 

[Grendel]

You could be right, it's quite easy for "I don't agree with you, old chap" to be misspelt as "Bore off, you moron".

RPHunt the poet laureate and linguistic expert.