torchomatic
Well-Known Member
The difference is Coventry City will NEVER own their own ground. Big difference. Our future hinges on ownership.
A group of Swindon business men have just taken over there, poor old Pompey are possibly being taken by their Trust big ground problem there, and/if the shit hits the fan i am confident people will put their heads above the parapet as for owning the ground that would be for a later date and i'm certain will have been discussed..
It matters not how much these clowns have put into the club....they wanted to get us back to the premier league on the cheap, had no thought for the club, just looking to make a quick buck and it back fired.
Now theyre up shit creek without a paddle - they dont deserve any support and theyre only here because theyre desperately looking for a fairy godmother to ride in on a white horse.
They will never make any money from the club, its a basket case while they remain. The best we can hope for is to call it quits and someone take over the running - but theyre too stubborn to hand it over for nothing so this farce will continue.
I'm sure if the offer of the club for a pound was out there we would get some interest, but even at a quid its a bit overpriced.
Theyve brought a proud club to its knees and they dont give a shit.
Everyone entitled to their opinion which I respect. But this really has the feel of desperation - and it has for years. Just another 5mil and we can get our way out of this mess. This is supposedly a professional business outfit who have fked up big time by taking a huge risk. I guess its the nature of the hedge fund beast, and while any normal business person probably would have thrown the towel in 30 million quid ago SISU ego's wont allow them to do it. ACL are a business too, and while in a tricky situation given the city and the club, they have to do their best to survive. SISU have never managed to convince the majority that they are credible so what is a business to do when faced with such a bad debt?
...just want to point out that sales in F&B are likely substantially more than the estimations given time and again on these forumns? Where are you getting these figures of £100k for example?
Just take a simple look. 23 home games, throw in a couple of cup games. OK 25.
How many concession stands are there at the Ricoh? A dozen? have you tried getting served there at half time? Have you any idea how much can be taken in 15 minutes? Again before the match?
How about the catering for the events on match days? the private boxes etc?
Think again how much is generated. If I was looking at it conservatively I would begin my estimates at £400k a season as a minimum.
Then there's sponsors deals, naming stands, advertising hoardings and the list goes on. How many of these streams are involved in those talks?
The financial world changed in 2008 and everyone had to re-adjust. SISU anymore than anyone else did not see that coming when they took it on. They tried to react but faild badly making mistakes. That is the past. It's the here and now that matters and precisely why renegotiations have to take place. Ajustments are needed and that can be done when both sides are honest and prepared to compromise properly and stop sticking it to each other in a spat worthy of a ringside seat.
I saw this a few moments ago, you can almost hear them laughing from where we are.. :jerkit::jerkit::jerkit::jerkit::jerkit::jerkit:
It's a damn sight louder from where I'm having to listen to it
Bang on the on the money there dadgad IMO - nothing else makes any sense - and great word too
And the usual suspects say I never offer ways out of the impasse. ;-) What Sisu could and should have done is done everything in their power to exercise their option to buy the 50% share of the stadium.
1) They were only going to do this if people were going to trust them.
2) they were only ever going to be trusted by getting things right on the pitch. This after all is what running a football is all about.
3)If they had earned the trust of the Council and ACL they would have secured access to a proportion of the revenue streams that they now present as being the obstacle to their ambition.
Even if you believe them now their toxic past has come back to bite them. They only have themselves to blame and their spin and inability to hold onto managers, players and file accounts only shows them to be unworthy.
At every twist and turn of the way they eschew normal business practice and alienate those they should and could have courted.
They are desperate now and only the desperate will think they have any future.
Ironically the club will have been helped by the Sisu experience. In the future the very public airing of the inherent difficulties will result in a surer footing.....eventually.
Pusb
surely releasing Richard Wood would pretty much bridge that 5% gap?Fans are the first to moan that we don't sign any players - although SISU have signed 16 this season - but imagine next season if we have to play kids to stay within that 60%. I can guarantee that loads will be moaning on here.
surely releasing Richard Wood would pretty much bridge that 5% gap?
why were sisu handing out pay rises to the likes of david bell last season when they knew this was coming??
i remember sitting in a meeting last year with our board just before we sold juke, at that time they stated "we would be set to break even last year for the 1st time in years", i said "but what about the millions we will lose upon relegation"? they just shrugged their shoulders as if to say fuck knows!!
did they really think we would still stay up when we were about 7 points adrift at the time and about to sell the only bloke who had scored more than a couple of goals for us last season??
I can help thinking that if we were mid-table now with no chance of getting to the play-offs it would be game over - whilst we are still in with a fair chance I think SISU will stick with it - certainly for the next few weeks
Correct me if I'm wrong but we get promoted it all comes good and we are suddenly in profit - well certainly break-even - if we don't then SISU have then got to fund what at least £2M? a year losses still? There's your end game everyone - we're not just fighting for promotion IMO it's now a survival run-in
It matters not how much these clowns have put into the club....they wanted to get us back to the premier league on the cheap, had no thought for the club, just looking to make a quick buck and it back fired.
Now theyre up shit creek without a paddle - they dont deserve any support and theyre only here because theyre desperately looking for a fairy godmother to ride in on a white horse.
They will never make any money from the club, its a basket case while they remain. The best we can hope for is to call it quits and someone take over the running - but theyre too stubborn to hand it over for nothing so this farce will continue.
I'm sure if the offer of the club for a pound was out there we would get some interest, but even at a quid its a bit overpriced.
Theyve brought a proud club to its knees and they dont give a shit.
anyone want to listen to TF this morning it is here
http://www.bbc.co.uk/programmes/p014rksd
2hrs 8mins or there abouts
We weren't debt free we paid off at least £10 million from the prior regime and they inherited players like Ward and Doyle on contracts that were close on £1 million a year. The wage bill then would have been well in excess of £10 million a year, it only got to around £7 million last year. We will have not have accumulated £45 million in revenues through the turnstiles and TV.
So Licesters entire ground is worth 17m and then consider that the costing for CCFC to buy 50% of the operating company (not the ground itself) is quoted to be circa 15m
FUCK ME!! you dont think we were on our knees before they got here!! What planet were you on!!
My reference point was 1987!
also i was chatting to TF before the Preston home league game up in the boxes, TF kept going on about the Preston players walking round the pitch before the game taking pictures on their phones, "look at them, its like they are at wembley, every team that comes here does the same" then he went on about doncaster and what they pay in rent and that we should be paying the same........
so they acknowledge we have a top quality premiership standard ground but expect to pay the same rent as donnie do for a stadium half the size with no where near the same facilities as the ricoh??
dosent work like that im afraid, take responsibility, the deal is on the table, its a good deal, sign it and get the accounts filed!!
So Licesters entire ground is worth 17m and then consider that the costing for CCFC to buy 50% of the operating company (not the ground itself) is quoted to be circa 15m
As stadiums go that really is a bit of a bargain to be honest I'm really surprised it was bought so cheaply - not sure what the original cost was mind
Actually the F&B income is just as dependent on numbers at the game as ACL giving TF access to their books. But it is pretty irrelevant really because the only effect that the turnover from F&Bs has is on the FFP rules.
The way the F&B has been offered means CCFC gets the credit in their sales for it but also an exact matching cost in their purchases ...... so it has no effect on cashflow at all. For the club to be viable then it will have to spend less on wages and therefore the FFP limit is probably irrelevant. The only plus to the future budget or cashflow is the £100k that ACl said CCFC can have which represents the ACL profit on the matchd day F&B.
So in reality neither the rent nor the F&B's is holding up the preparation of any budgets.
Yeah but Tim Fisher has stated the £400,000 rent fee is not the issue!!! Its the revenue streams from CCFC Matchday events that they wish to have access too, i.e Food and Beverage stands, but have asked for the figures to plan it into a buisness model which ACL haven't agreed to for whatever reason..
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?