Club update (1 Viewer)

To be fair, what they've said (executive boxes aside - which I couldn't be arsed to read, as it didn't affect me) is pretty much what we all knew, Thought the stadium bit was a bit of a straight bat reply (said nothing). Not really anything to get worked up about, and if Vik hasn't gone by end of play, then I think most of us would take that without much complaining. Results (more than performances) and delayed CBS return have just made people crotchety (which is understandable)

Bunch of Bedwetters on this thread

vow said:

Joking apart, To be perfectly honest, I'm not fussed about a gesture from the club if it means taking money back out of the club!


Eg. A fookin scarf or another city shirt.

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Agree - think 99% of the fans - particularly ST holders - want the club to concentrate on the bigger picture.

alexccfc99 said:

That to me read as an invite or appeal to investors to come and buy a percentage to the club

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I don't know any club which has percentage ownership

TwistAndShoutCCFC1987 said:

Also it says we didn’t pay for the pitch repairs , which A) I doubt and B) if so makes the Hyam sale even more confusing

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It could be for the pending fine, which I’m sure the EFL will impose.

bawtryneal said:

They don't communicate people complain
They communicate people complain
What do you want them to say apart from we are about to spend £10 million on new players tomorrow.

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It's crap communication though. If they're going to address fans through a statement at least attempt at making it coherent. No accountability for the lack of sufficient notice with regards to hospitality boxes being out of use tomorrow, essentially admitted that they cannot afford to operate in this division, non-descript update on the fictional stadium, claims that further recruits will be looked at which is sceptical at best given the recent cashflow issues, and a very poor/condescending tone throughout.

On the positive side

I highly doubt they’d realise a statement then sell vik

SlowerThanPlatt said:

Challenge accepted

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I’m not sure,

I just don’t think you’d communicate with the fans about numerous issues, one is replacing Hyam

Whilst knowing you’re going to sell the player that’s going to annoy the fans 10 x more

Matt smith said:

On the positive side

I highly doubt they’d realise a statement then sell vik

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You've jinxed it now.

Gynnsthetonic said:

I don't know any club which has percentage ownership

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Newcastle, West Ham, Leeds, Palace

more than you’d think

slowpoke said:

Owners, plural, so there are more than just our Joy, who and how many are they. Ask Boddy that question tonight

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Well, yeah, it's an investment fund.

The obvious question that needs asking (to put our minds at rest) is the club up for sale

HuckerbyDublinWhelan said:

The obvious question that needs asking (to put our minds at rest) is the club up for sale

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Agreed. Was hoping they’d at least touch on it either way given that it’s made it into the National Press. However, they’ve been relatively quick to nip such speculation in the bud, in the past. Hopefully, no denial means they have every intention of fucking off, and sooner rather than later before they are pelted with plastic pigs again.

I am glad they have said something even if it raises more questions than the "answers " it apparently provides.

IF the owners are providing monthly funding on what basis? Structured loans or is it pay day loans meaning they get there money back sooner than later, both ways carry high interest rates .

Also suggests to me the first people paid on any material sale is the owners to get their short term funding back if not more.

They have to make sure that the day to day costs are met don't they ? Alternative is they make losses on their investment possibly even lose it all. So don't dress it up as doing us a favour

The statement makes sound like the increased overheads have hit but surely those are budget figures for the season just like player costs. Surely they budgeted for a lot of it months ago particularly the wages costs .... it hasn't suddenly happened. They call it business management.

Clear that hyams sale didn't have a lot to do with pitch costs. They were in a hole long before now and gambled on there being a sale of one of the "big three" it hasn't happened. Can't help thinking the increased player contracts were done to prove higher value and they expected sales..... backfired as of now

Does sound to me like there is another player sale coming

I know it's not cash flow as not paid but if you wanted to improve profitability for sale you might waive the interest charges

Tonight's fans forum is a bit pointless after this. Allows them to deflect any sharp questions.

I fully appreciate we have sell to survive, I appreciate the model they try to use but look behind the first 11 (partly other clubs players) and just how successful is the model if there is not a lot coming through that can play this level and no ones been that interested in what we have since January 2020 to really test the clubs resolve. The model works on player sales not just for new players but for the wages the overheads. Without selling one or more of 3 players the model doesn't work because there is very little behind it coming through and we can't afford to bring new potential in.

Overall thanks for the update but a whole lot of smoke and mirrors. As usual "not our fault", the usual default position from Boddy upwards

As for the new stadium update

clint van damme said:

We're that skint that losing the income from 3 league games has nearly sent us under, oh, and buy the way, we're going to spend millions building a new stadium.

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Yeah, it's ridiculous.

skybluepm2 said:

Agreed. Was hoping they’d at least touch on it either way given that it’s made it into the National Press. However, they’ve been relatively quick to nip such speculation in the bud, in the past. Hopefully, no denial means they have every intention of fucking off, and sooner rather than later before they are pelted with plastic pigs again.

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Looks like the lower leagues was doable. But as we’ve all suspected, they don’t have the stomach to run a Championship football club

KenilworthSkyBlue said:

The statement asks more questions than it answers really. It wouldn't be picked apart if it provided any actual clarity.

Is it obvious they are selling the club? Unless a prospective buyer comes in with a ridiculous bid that matches their overinflated valuation I can't see SISU selling anytime soon.

How are the club still searching for recruits when it has severe cashflow issues, players they've previously sought to move on are still on the books and the entirety of the fee received for Hyam has been used to bridge aforementioned cashflow issues?

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SISUs "Overinflated Value" ... What's that exactly?!

This is the exact bullshit conjecture I'm on about. You know nothing just like the rest of us.

Nobdy knows what they want, nobody knows how much we got for Dom, nobody knows What issues they face finance wise.

They can't go telling everyone exact figures it's not how it works. But everyone carries on and makes shit up to fit the bad guys narrative.

As I have said before at this precise moment in time we have a pretty much like for like squad from last year and a reassurance that they are looking for more recruits. The rest is guess work

shmmeee said:

This is posted every time this question is asked so is probably pointless but:

We sell players for a profit. That’s the model. It’s the only one close to working at this level. If you don’t do that and you don’t accept a loss, sooner or later you’re a league one or lower side. That’s just gravity. There’s no “treading water” at this level. Not one club has stayed at this level under the strategy Sisu are employing.

And by all accounts all approaches for the club are knocked back.

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Unless you have owners prepared to pump millions in what is the answer? Even that can be disasterous - Bolton.

2,000 extra season tickets in the grand scheme is peanuts - not the 2 or 3 decent players our fans seem to think it should bring. My generous calculation means about £850,000 extra in budget - now re read Boddy's statement regardless of whether you believe owners are putting money in monthly. There is lots of things that suck money out of the club.

Look at Forest spent £150 m on players and it still might not keep them up. That is a ridiculous thought for us.

Our fans need a reality check on finances. We do not have ultra wealthy owners. Plus Joy Seppala never wanted to buy a football club - so it is not a vehicle for her ego. However if Wasps went pop and she picked up the CBS for peanuts she would be one smug bitch.

There are lots of owners in the Premier League I wouldn't want regardless of their money - I suppose it depends if you want to sell your soul for success? We need new owners but what are the chances of attracting the right ones?

Alkhen said:

SISUs "Overinflated Value" ... What's that exactly?!

This is the exact bullshit conjecture I'm on about. You know nothing just like the rest of us.

Nobdy knows what they want, nobody knows how much we got for Dom, nobody knows What issues they face finance wise.

They can't go telling everyone exact figures it's not how it works. But everyone carries on and makes shit up to fit the bad guys narrative.

As I have said before at this precise moment in time we have a pretty much like for like squad from last year and a reassurance that they are looking for more recruits. The rest is guess work

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A few days ago you said something to the effect that the owners had invested money into the club - that’s not the case is it?

I'm not sure why it's a surprise to them that the owners are having to fund losses. Pretty much every team in the division, bar some of the parachute payment teams, run at a loss.

oldskyblue58 said:

I am glad they have said something even if it raises more questions than the "answers " it apparently provides.

IF the owners are providing monthly funding on what basis? Structured loans or is it pay day loans meaning they get there money back sooner than later, both ways carry high interest rates .

Also suggests to me the first people paid on any material sale is the owners to get their short term funding back if not more.

They have to make sure that the day to day costs are met don't they ? Alternative is they make losses on their investment possibly even lose it all. So don't dress it up as doing us a favour

The statement makes sound like the increased overheads have hit but surely those are budget figures for the season just like player costs. Surely they budgeted for a lot of it months ago particularly the wages costs .... it hasn't suddenly happened. They call it business management.

Clear that hyams sale didn't have a lot to do with pitch costs. They were in a hole long before now and gambled on there being a sale of one of the "big three" it hasn't happened. Can't help thinking the increased player contracts were done to prove higher value and they expected sales..... backfired as of now

Does sound to me like there is another player sale coming

I know it's not cash flow as not paid but if you wanted to improve profitability for sale you might waive the interest charges

Tonight's fans forum is a bit pointless after this. Allows them to deflect any sharp questions.

I fully appreciate we have sell to survive, I appreciate the model they try to use but look behind the first 11 (partly other clubs players) and just how successful is the model if there is not a lot coming through that can play this level and no ones been that interested in what we have since January 2020 to really test the clubs resolve. The model works on player sales not just for new players but for the wages the overheads

Overall thanks for the update but a whole lot of smoke and mirrors. As usual "not our fault", the usual default position from Boddy upwards

As for the new stadium update

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Agree with a lot of the above but new contracts for Hamer and Ohare was the right move. Without them both would’ve been going into final year this summer and offers would’ve reflected that. with his injury we’d be offloading ohare for £1m in Jan if we hadn’t or losing him for a free. At least we have a chance of getting decent value for them still…if they get/stay on the pitch (now we have one !)

The bigger issue is we’ve got waghorn, walker and Kane on big contracts and none are in Robins plans. That’s management/recruitments fault ultimately

I still think SISU are willing to sell up. If the club wasn’t for sale, Im sure Jordan would’ve said so recently. This
is the top of their cycle unless we fluked promotion or a couple of amazing kids came through the system that brought in big money. Both unlikely to be worth the gamble. Someone needs to put a decent offer in, which is unlikely to happen until Wasps/stadium position is clear. Until then we’re stuck with them so may as well focus on supporting the team

Hobo said:

Unless you have owners prepared to pump millions in what is the answer? Even that can be disasterous - Bolton.

2,000 extra season tickets in the grand scheme is peanuts - not the 2 or 3 decent players our fans seem to think it should bring. My generous calculation means about £850,000 extra in budget - now re read Boddy's statement regardless of whether you believe owners are putting money in monthly. There is lots of things that suck money out of the club.

Look at Forest spent £150 m on players and it still might not keep them up. That is a ridiculous thought for us.

Our fans need a reality check on finances. We do not have ultra wealthy owners. Plus Joy Seppala never wanted to buy a football club - so it is not a vehicle for her ego. However if Wasps went pop and she picked up the CBS for peanuts she would be one smug bitch.

There are lots of owners in the Premier League I wouldn't want regardless of their money - I suppose it depends if you want to sell your soul for success? We need new owners but what are the chances of attracting the right ones?

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What you actually are saying is like Rotherham we should accept we are a L1 club that will have a few seasons now and again in the championship

Grendel said:

What you actually are saying is like Rotherham we should accept we are a L1 club that will have a few seasons now and again in the championship

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At least Rotherham actually built their new ground...

CCFCSteve said:

Agree with a lot of the above but new contracts for Hamer and Ohare was the right move. Without them both would’ve been going into final year this summer and offers would’ve reflected that. with his injury we’d be offloading ohare for £1m in Jan if we hadn’t or losing him for a free. At least we have a chance of getting decent value for them still…if they get/stay on the pitch (now we have one !)

The bigger issue is we’ve got waghorn, walker and Kane on big contracts and none are in Robins plans. That’s management/recruitments fault ultimately

I still think SISU are willing to sell up. If the club wasn’t for sale, Im sure Jordan would’ve said so recently. This
is the top of their cycle unless we fluked promotion or a couple of amazing kids came through the system that brought in big money. Both unlikely to be worth the gamble. Someone needs to put a decent offer in, which is unlikely to happen until Wasps/stadium position is clear. Until then we’re stuck with them so may as well focus on supporting the team

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Not saying wasn't the right move it was. But then I think they gambled on a summer sale to stop the owners needing to finance ...... probably wanted some money back too

Alkhen said:

Gah people are so fucking needy and entitled. Moan when nothing is said, pick it apart when it is.

Basically a bunch of babies raging that we haven't got a sugar-daddy to bankroll us. suck it up! much rather be in our situation than that of a that a bunch of other teams in our league who are chucking good money after bad and wracking up huge debt.

It is pretty fucking obvious they are trying to sell the club. If the playing squad is adequate to compete and stay in the league whilst they chase a sale, they are never are going to pump money in which they wont get back.

Dom is the only 1st teamer we haven't replaced from last season and the article says we will be continuing our search for recruits. Chill out

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they aren’t selling the club.

They fund through high interest loans and in reality we are as bankrupt as wasps

You are talking absolute nonsense

KenilworthSkyBlue said:

By saying that they've essentially admitted they can't afford to operate in this division. Not that's anything new or a surprise.

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And they've got no ideas or no inclination to invest in the infrastructure to increase those revenues, i bet our earnings per person based on average gates is the worst in the league

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It’s the “not my fault” “look over there” narrative that’s the most annoying

It’s pathetic

rexo87 said:

Not sure it really answers a lot of questions tbh. If the owner is still constantly putting in funds to cover losses then why are we desperate to sell?

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To limit the amount the owner has to stump up to subsidise the football club.
I'd of thought that was blindingly obvious.

It’s almost a really diplomatic way of still not answering questions. Can’t believe folk are lapping it up.

fernandopartridge said:

And they've got no ideas or no inclination to invest in the infrastructure to increase those revenues, i bet our earnings per person based on average gates is the worst in the league

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Really, what are you basing that on? Commercial revenues, from sponsorship, hospitality, licensing, merchandising and retail have all increased notably haven't they?

In the absence of stadium ownership (which will inevitably impact on pp revenue), where are we lacking? Genuine question, because I have no doubt there are areas where we could improve, but we do seem to have turned the corner somewhat in some of those areas at least.

chiefdave said:

People can complain but without someone willing to just throw money away what alternative strategy should they pursue? The only way they're going to make significant returns is promotion to the Prem and they simply aren't going to write the kind of cheques required for that.

So we're, at best, treading water until someone is prepared to buy the club. Its all well and good saying sell up, you need a willing buyer and lets not pretend someone like Hoffman coming in is going to give the kind of funding people want put into the club.

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Quite right, but unfortunately most fans will have no idea of the harsh reality of running ccfc.
We don't own our stadium, so revenue streams are limited, and the reality is we have one of the lowest budgets in the championship.
Sisu are a business and won't continue to throw good money after bad for ever, I'm sure they are millions out of pocket, and can't sell for anything like the amount they'd like as there's very little to actually buy.

fatso said:

Quite right, but unfortunately most fans will have no idea of the harsh reality of running ccfc.
We don't own our stadium, so revenue streams are limited, and the reality is we have one of the lowest budgets in the championship.
Sisu are a business and won't continue to throw good money after bad for ever, I'm sure they are millions out of pocket, and can't sell for anything like the amount they'd like as there's very little to actually buy.

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We have no stadium as the owners never wanted one. That’s down to them

fernandopartridge said:

And they've got no ideas or no inclination to invest in the infrastructure to increase those revenues, i bet our earnings per person based on average gates is the worst in the league

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They do nothing to maximise commercial income at the club, nor try to leverage the 13k+ ST holders for the benefit of increasing revenue.

The commercial operation is shambolic and has barely improved since the L2 days.

surely this is a pertinent statement,

Record Season Ticket sales and kit sales have helped hugely in generating revenue, and we thank fans for their support. This makes a big difference to the Club, both day-to-day and also having the Sky Blue Army behind the team in big numbers on matchdays. Commercial revenues generated also continue to increase, such as sponsorships. This, plus ticket revenue, has amounted to circa £1m increase compared to last season.

Have we spunked all the extra revenue away so soon?