SCG meeting questions (1 Viewer)

stupot07 said:

IIRC Acl negotiated it with compass, they bought them into deliver hospitality in the Ricoh, it was originally a 10 year deal. Compass then paid £4m to acl, which got then the 23% share in IEC the subsidiary of acl.

Wasps have subsequently renegotiated and signed a new 15 year deal with wasps

Some of the links

https://www.thecaterer.com/articles/326945/compass-signs-125m-deal-at-coventry-city-fcs-ricoh-arena

http://www.wasps.co.uk/news/article...ear-partnership-with-compass-group-uk-ireland


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Who got the £4m ? Was that ACL in 2009
WASPS extendedthe deal no doubt there was another up front cash deal ?

So WASPS can't help CCFC cos they have already taken the vast majority of the F&B profits via an upfront payment

shy_tall_knight said:

Who got the £4m ? Was that ACL in 2009
WASPS extendedthe deal no doubt there was another up front cash deal ?

So WASPS can't help CCFC cos they have already taken the vast majority of the F&B profits via an upfront payment

Click to expand...

Acl got to £4m, i think that was after 2009 when acl were setting up IEC, I'm not sure whether compass paid wasps or the other way around. From the Trust FAQs acl only got 12% profit from the f&bs when asked pre Northampton, now it seems they get 30%.

Edit it was £4m in 2014.
http://www.skybluestalk.co.uk/index.php?threads/42975/

The contract to deliver hospitality is different to the £4m for shares in IEC.

Would they have even paid to get the contract? I'm not so sure, I imagine it was like the similar model to what ccfc have done to the shop. Acl were struggling financially so commissioning out hospitality meant not having the costs or risks, just access to a small profit after compass took their share.

Whichever way you look at it there's no chance of ccfc buying into it.

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The Ricoh just encourages short-termism

• CCFC sell their 50% stake in ACL
• ACL sell their F&B for an upfront payment
• WASPS seem to have cut another long term deal, no doubt for a short-term cash injection