Podcast Ep 32 - Cov's accounts discussed with football finance expert Kieran Maguire (15 Viewers)

[Sky Blue Pete]

Is King on his own, is he working on SISUs behalf as they were his guests at the Play off Final or is King in Cahoots with Frasers

Someone should ask him

 

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[Telfer85]

Can't see Frasers selling anytime soon, they seems to be investing a fair amount into the stadium and are looking at buying other grounds so clearly its part of their business plan.

We don't know what we get for the rent these days do we? £1.3m for just 20 something days use of the pitch with ridiculous conditions that we had previously like limited access before and after games is very different to having the clubs shop there, offices (not sure if we moved the offices out of Ryton?), potentially a cut of any F&B, parking etc.

It’s in Frasers interest surely for the football club to be successful. The success of both sides from having premiership football would be big. So you would hope the next rent deal would be negotiated as such that would still allow the club to push on rather than hindering their progress. They’ve seen what can happen if you have a failing football club there.

Also if they are in the prem there is a chance someone would come along wanting to buy both which would be a healthy profit for Ashley and king.

 

[biggymania]

Obviously playoff hopes have gripped me but I do wonder if we went up what we would spend all the £190 million on.

Id like to think we’d make a good go of it and unlike the teams that went up this year we’ve got a manager with premiership experience.

But do feel you have to spend a fortune to have a chance and we might never have as great a opportunity to sort some of the long term infrastructure out. Least some of us would finally get their free ticket

You would think Doug would immediately pay off the loan, look to acquire the stadium and invest enough in the squad to give a shot at survival and if not, an immediate bounceback.

With ~30M (was it?) in debt to doug and whatever the price of the CBS would be... might not leave a great deal in the transfer kitty so perhaps that's all a bit too ambitious!

 

[Gynnsthetonic]

Someone should ask him

Your the man for that Pete

 

[Captain Dart]

You could argue that DK is setting the club up to be run without the owners intervention except for the finances which makes it attractive to the class of multi billionaires who don't own a sports franchise. Setting up his exit strategy.

 

[TomRad85]

You could argue that DK is setting the club up to be run without the owners intervention except for the finances which makes it attractive to the class of multi billionaires who don't own a sports franchise. Setting up his exit strategy.

I just hope we are never purchased by Yanks, unfortunately that seems to be where a lot of clubs are selling their souls to.

 

[Sky Blue Pete]

Your the man for that Pete

That’s what I mean about credibility and expectation
I have asked Joy Seppalla and she has been very clear what the situation is
I wouldn’t be at all surprised that if we’re promoted in a set period of time money would go to sisu but she and he are not going to answer that are they?

 

[clint van damme]

I just hope we are never purchased by Yanks, unfortunately that seems to be where a lot of clubs are selling their souls to.

If they come in with a decent bid King will sell to them, he's not here for his love of the game.

Though I doubt they'd be looking at a club with no ground and a rapidly decreasing 5 year lease.

I wonder, given he couldn't get the stadium, if a long term lease is in Kings thinking?

 

[TomRad85]

If they come in with a decent bid King will sell to them, he's not here for his love of the game.

Though I doubt they'd be looking at a club with no ground and a rapidly decreasing 5 year lease.

I wonder, given he couldn't get the stadium, if a long term lease is in Kings thinking?

Of course, King isn't going to care who decides to chuck multiple millions at him, and i don't expect him to. I just really hope it's not Americans.

 

[Gynnsthetonic]

How much profit does the stadium actually make taking in maintenance as well. Its not Highfield Rd it's a very big complex. Could the club not go into partnership with the owners who have the nouce to run the thing properly

 

[biggymania]

How much profit does the stadium actually make taking in maintenance as well. Its not Highfield Rd it's a very big complex. Could the club not go into partnership with the owners who have the nouce to run the thing properly

We know it was loss making in the year the Frasers Group took it over and we also know they spent a bunch in that first year of acquisition.

The details though are now all wrapped up and hidden in the group accounts, so we don't really know.

Frasers Group Accounts confirm CBS Area purchase price, revenue & losses

Not sure if anyone has talked about this yet, but the Fraser Group have published their 22/23 accounts - this is the year that included their purchase of the arena. I am a mere amateur, but I was curious and had a look at them. It looks like ownership is under a subsidiary called Coventry Arena...

www.skybluestalk.co.uk

I posted this at the time - cost them 18M to acquire and lost 7M on 13M of revenue. I would imagine with our rent deal, much bigger matchday attendances and perhaps more (non-football) revenue streams things are looking better?

18M is such a bloody good price when you consider we'd pay that in the next 14 years anyway... not including any increases.

 

[Sky Blue Goblin]

We know it was loss making in the year the Frasers Group took it over and we also know they spent a bunch in that first year of acquisition.

The details though are now all wrapped up and hidden in the group accounts, so we don't really know.

Frasers Group Accounts confirm CBS Area purchase price, revenue & losses

Not sure if anyone has talked about this yet, but the Fraser Group have published their 22/23 accounts - this is the year that included their purchase of the arena. I am a mere amateur, but I was curious and had a look at them. It looks like ownership is under a subsidiary called Coventry Arena...

www.skybluestalk.co.uk

I posted this at the time - cost them 18M to acquire and lost 7M on 13M of revenue. I would imagine with our rent deal, much bigger matchday attendances and perhaps more (non-football) revenue streams things are looking better?

18M is such a bloody good price when you consider we'd pay that in the next 14 years anyway... not including any increases.

Interesting to see as we know how much work the stadium needs and how many has been done and will be done.

Assume it will turn a profit for Frasers as long as the club don’t leave again or build their own stadium (both very unlikely).

 

[SKYBLUES90]

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.

Nickname should be chocolate.