To Stay or Go (16 Viewers)

[kg82]

We haven't believed Sisu, we haven't believed ACL, we haven't believed the council, yet we are going to take what Wasps say as gospel?

Wasps say that won't happen, but yet they also said they wouldn't change the seating colour, yet a lot on here now believe they will. Words are just words. this is the business world and words are cheap.

It's a theoretical situation. I asked it because I can't see Wasps selling any part of the Ricoh to SISU and therefore, the best option, in my opinion, seems to be having our own new stadium! It's also upto people what they consider to be viable, but I'd suggest within 5 miles of the city centre.

 

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[SkyBlue_Bear83]

We haven't believed Sisu, we haven't believed ACL, we haven't believed the council, yet we are going to take what Wasps say as gospel?

Wasps say that won't happen, but yet they also said they wouldn't change the seating colour, yet a lot on here now believe they will. Words are just words. this is the business world and words are cheap.

Yes but why would Wasps let 50% of ACL go, the only benefit to letting 50% go is that they is get a lump sum payment if they are struggling for cash. And they've just received a 35 million cash injection so they aren't exactly short on cash at this point in time. Maybe in 7 years when they need to pay that 35 million back, then they may be looking for cash and there could be potential for a deal but are we prepared to wait in limbo for 7 years on the chance they might need to sell 50% of ACL.

 

[stupot07]

It's a theoretical situation. I asked it because I can't see Wasps selling any part of the Ricoh to SISU and therefore, the best option, in my opinion, seems to be having our own new stadium! It's also upto people what they consider to be viable, but I'd suggest within 5 miles of the city centre.

to be honest, i think the polls a waste of time, as ccfc92 and i suspect others have voted no as they don't believe there is a viable option so therefore not answering your hypothetical question.

 

[Noggin]

That's not the question

It really is though,

You need to know what the other option is before you can make an informed decision on whether the grass is likely to be greener. Its a safe bet that all of us would be delighted to move to a new stadium if it were similar or better to the Ricoh in everyway that matters and was ours. It could be a reasonable amount worse than the Ricoh and we'd still be delighted if it were ours but if it's alot worse than the Ricoh, costs us more than the rent and the extra income doesn't cover these costs (which is almost certainly the scenario we'd be talking about if we're being realistic) then no I wouldn't wouldn't want to leave the ricoh.

So how do you vote? pretend this fictional never going to happen stadium is wonderful and vote yes or accept that if the million to one shot actually does result in it happening it probably won't be great and vote no.

 

[stupot07]

Yes but why would Wasps let 50% of ACL go, the only benefit to letting 50% go is that they is get a lump sum payment if they are struggling for cash. And they've just received a 35 million cash injection so they aren't exactly short on cash at this point in time. Maybe in 7 years when they need to pay that 35 million back, then they may be looking for cash and there could be potential for a deal but are we prepared to wait in limbo for 7 years on the chance they might need to sell 50% of ACL.

they will probably offer to sell us half of ACL in 7 years time for £35m as they'll need the cash to pay back all those sad saps who invested.

 

[Otis]

So what's the answer then? Presume wasps are lying, sign a 100 year contract in the hope they might one day allow us to buy in?


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

As you've said many a time stu, we're between a rock and a hard place.

Stay at the Ricoh and just drift along, or seemingly build a much smaller stadium a lot further away and probably end up with losing thousands of fans in the process.

There is no easy answer and I think we all know there isn't.

 

[SkyBlue_Bear83]

As you've said many a time stu, we're between a rock and a hard place.

Stay at the Ricoh and just drift along, or seemingly build a much smaller stadium a lot further away and probably end up with losing thousands of fans in the process.

There is no easy answer and I think we all know there isn't.

Which is why the council should be doing everything to accommodate a new stadium in Coventry.

 

[Noggin]

to be honest, i think the polls a waste of time, as ccfc92 and i suspect others have voted no as they don't believe there is a viable option so therefore not answering your hypothetical question.

what does viable mean? is 15k seats, 20 mins away not in Coventry and 50mill debt that costs millions a year to service in 5 years time a viable option? because thats the sort of thing you are likely voting for with yes, but voting no seems wrong too because I'd love our own stadium.

 

[ccfc92]

Does anyone have the rough details of the current contract?

Rent and revenues etc?

 

[stupot07]

As you've said many a time stu, we're between a rock and a hard place.

Stay at the Ricoh and just drift along, or seemingly build a much smaller stadium a lot further away and probably end up with losing thousands of fans in the process.

There is no easy answer and I think we all know there isn't.

my personal preference would be to stay on this short term contract, whilst exploring / planning for a new stadium to keep the option available, in the mean time see if wasps struggle, then renegotiate another short term contract.

 

[Astute]

I would say yes if extremely close to Coventry. If not no otherwise I would be endorsing franchise clubs. And we all know how bad that is.

 

[SkyBlue_Bear83]

Does anyone have the rough details of the current contract?

Rent and revenues etc?

100k rent + match day costs (probably comes out close to 400k all together)

50% of football match day revenue

 

[Noggin]

they will probably offer to sell us half of ACL in 7 years time for £35m as they'll need the cash to pay back all those sad saps who invested.

The sad thing is that utterly appalling scenario is quite probably better financially than building ourselves, that's how terrible an idea it is and to anyone who wishes to debate that, no ty, we've all wasted too many hours of our lives doing that already and everything that needed to be said has been said multiple times.

 

[Grendel]

100k rent + match day costs (probably comes out close to 400k all together)

50% of football match day revenue

With an option for Wasps to terminate the deal in 2016

 

[stupot07]

Does anyone have the rough details of the current contract?

Rent and revenues etc?

the current deal (1 year plus 2 additional) is £100k rent (plus matchday costs), and 50% matchday profits, which a rough guestimate would be about £23k (less vat and costs) car parking and about £35k F&B's income

 

[kg82]

to be honest, i think the polls a waste of time, as ccfc92 and i suspect others have voted no as they don't believe there is a viable option so therefore not answering your hypothetical question.

Sadly, this is probably true. Just thought it would be interesting to get some sort of an idea. You can never tell from just reading around posts on here.

 

[ccfc92]

100k rent + match day costs (probably comes out close to 400k all together)

50% of football match day revenue

Ah right.

I can see why it would make sense to spend £30 million on a stadium that would only bring in about 6,000 per week now.

 

[italiahorse]

Can't see Sisu spending £30M + on a new stadium when they couldn't find £20M for the Ricoh.
Would sooner Sisu did the survey before they commit to funding a new stadium.

 

[ccfcway]

No. Coventry is our home and we should own the Ricoh.

Clearly this isnt viable, but thats not the question

 

[Astute]

the current deal (1 year plus 2 additional) is £100k rent (plus matchday costs), and 50% matchday profits, which a rough guestimate would be about £23k (less vat and costs) car parking and about £35k F&B's income

And these low amount of incomes are supposed to be why we need to spend minimum 30m to build a stadium.

 

[ccfc92]

And these low amount of incomes are supposed to be why we need to spend minimum 30m to build a stadium.

All for the revenue of 6,000 punters.

Plus rent and payments TO sisu, to pay for this stadium.

But it's okay, because business people that want to stay at the Ricoh, with it's motorway links and facilities, will choose Stade de SISU in the wilderness to provide the much needed 365 days revenue....

 

[percy]

viability is not an option as any move away from the ricoh will mean us moving away from coventry, so a big fat no from me

 

[stupot07]

And these low amount of incomes are supposed to be why we need to spend minimum 30m to build a stadium.

they're low because of the compass contract. EIC (sp?) only make around 12% profit on F&B's. remember though they're not the only extra income from stadium ownership/leasehold - we only get pitchside advertising but if own/leasehold then you have stadium sponsorship, stand sponsorship, all f&b's and parking plus cost control t, advertising outside the ground, meetings/weddings/conferencing, lease out office space,etc, sell bits of land, etc. plus asset level in your accounts, and something to sell when a new owner comes along.

 

[ccfc92]

they're low because of the compass contract. EIC (sp?) only make around 12% profit on F&B's. remember though they're not the only extra income from stadium ownership/leasehold - we only get pitchside advertising but if own/leasehold then you have stadium sponsorship, stand sponsorship, all f&b's and parking plus cost control, advertising outside the ground, meetings/weddings/conferencing, lease out office space,etc, sell bits of land, etc. plus asset level in your accounts, and something to sell when a new owner comes along.

And you'd trust SISU to market all this?

They can't even market the club adequately.


(I do see your point btw, but I can't see businesses and brides etc rushing to spend money at a small football ground)

 

[stupot07]

And you'd trust SISU to market all this?

They can't even market the club adequately.

probably not, but then again my initial post said i can't see a long term future at the ricoh, and when i say that i mean 10-15 years time. I cant see sisu still being here then

 

[Astute]

they're low because of the compass contract. EIC (sp?) only make around 12% profit on F&B's. remember though they're not the only extra income from stadium ownership/leasehold - we only get pitchside advertising but if own/leasehold then you have stadium sponsorship, stand sponsorship, all f&b's and parking plus cost control, advertising outside the ground, meetings/weddings/conferencing, lease out office space,etc, sell bits of land, etc. plus asset level in your accounts, and something to sell when a new owner comes along.

Plus full upkeep of your own stadium. Then you have repayments for the loan to build it.

You will be amongst the first to say that the repayments that Wasps will have to make are similar to what we would have to lend. So That would be another 2m plus a year.

Whilst down where we are it isn't viable. That is why no land has been identified yet. I want us to own our own stadium. But SISU messed up our only chance of doing it in an affordable way. So we will have to wait until our income improves vastly before considering it seriously.

 

[ccfc92]

probably not, but then again my initial post said i can't see a long term future at the ricoh, and when i say that i mean 10-15 years time. I cant see sisu still being here then

Perhaps, but a business savvy owner could maximize the Ricoh and our current position, and improve it.

I'm sorry, but another £30 million debt for a stadium outside Coventry will further reduce potential and revenue IMO.

 

[Grendel]

Plus full upkeep of your own stadium. Then you have repayments for the loan to build it.

You will be amongst the first to say that the repayments that Wasps will have to make are similar to what we would have to lend. So That would be another 2m plus a year.

Whilst down where we are it isn't viable. That is why no land has been identified yet. I want us to own our own stadium. But SISU messed up our only chance of doing it in an affordable way. So we will have to wait until our income improves vastly before considering it seriously.

Why are other lower league clubs planning new builds then -- how will they afford it?

 

[The Reverend Skyblue]

Does anyone have the rough details of the current contract?

Rent and revenues etc?

Yes ive got the contract on my laptop, we pay rent and get fuck all revenues

 

[Astute]

Why are other lower league clubs planning new builds then -- how will they afford it?

1, They have somewhere to sell where the land is more valuable than where they are moving to.

2, They are not run by SISU.

 

[ccfc92]

Yes ive got the contract on my laptop, we pay rent and get fuck all revenues

Apparently we now get 50% of our matchday revenue. So.....

 

[Grendel]

1, They have somewhere to sell where the land is more valuable than where they are moving to.

2, They are not run by SISU.

How are Scunthorpe and York funding stadia? Are they costing £30 million?

 

[Grendel]

Apparently we now get 50% of our matchday revenue. So.....

.....the equivalent of 11.5 days out of 365.

 

[ccfc92]

Why are other lower league clubs planning new builds then -- how will they afford it?

I'm going to ask you a very simple question, Grendel.

Do you believe, that a new stadium, in our current financial state, and potential revenue, will be viable.

(If SISU are to be believed, the new stadium will be further away from Coventry city centre than the Ricoh)

 

[Grendel]

I'm going to ask you a very simple question, Grendel.

Do you believe, that a new stadium, in our current financial state, and potential revenue, will be viable.

(If SISU are to be believed, the new stadium will be further away from Coventry city centre than the Ricoh)

Yes

Will sisu be committed to such a project? Probably not