Bassette Deck
Well-Known Member
How do you know it was a bird and not a bloke?
Stadium update (4 Viewers)
- Thread starter Tommo1993
- Start date
How do you know it was a bird and not a bloke?
You would think CoventryLive/ Telegraph website would remove the WASPS link on its home page by now. Pretty embarrassing for a “local newspaper“
www.coventrytelegraph.net
Wasps RFC - Coventry Telegraph
Wasps are an English professional rugby union team that moved to Coventry in 2014 after buying the Ricoh Arena, now called the Coventry Building Society Arena. The team compete in the Gallagher Premiership, Heineken Champions Cup and the Premiership Rugby Cup. You can find us on Facebook and...
KenilworthSkyBlue
Well-Known Member
You would think CoventryLive/ Telegraph website would remove the WASPS link on its home page by now. Pretty embarrassing for a “local newspaper“
Wasps RFC - Coventry Telegraph
Wasps are an English professional rugby union team that moved to Coventry in 2014 after buying the Ricoh Arena, now called the Coventry Building Society Arena. The team compete in the Gallagher Premiership, Heineken Champions Cup and the Premiership Rugby Cup. You can find us on Facebook and...
Even more so when they give zero coverage to Coventry Rugby Club. Disgraceful really.
Captain Dart
Well-Known Member
Yet another car control measure.
www.coventrytelegraph.net
Council update on plans to limit drivers around Coventry Building Society Arena
The plans were put out to public consultation
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Yeah you are right putting it that way it’s awful.
ajsccfc
Well-Known Member
Wet wipes are fresh poo, this is chisel territory
ajsccfc
Well-Known Member
The taste
chiefdave
Well-Known Member
not sure there's much to disagree with there. Makes sense to stop cars and taxis using Judds Lane as a pick up and drop off point. Just blocks the road when you've got hundreds of vehicles queuing to leave.Yet another car control measure.
Council update on plans to limit drivers around Coventry Building Society Arena
The plans were put out to public consultation
If it’s nutty in taste with sweetcorn it’s not a bird
Grendel
Well-Known Member
I would assume the council had to sign a Deed of Assignment to approve the transfer of the lease?
Is it not plausible that the default option was placed by the council so the option of repurchase was there so the deed did not just relapse.
I would assume the funding has actually come from investors in RCMA Group who are prepared to extend into property portfolio
CrawleySkyBlue
Well-Known Member
The lease has not directly transferred to my understanding - Coventry Arena Propco Limited remain the proprietor of the lease according to the latest charge filed on Companies House. This would also make sense based on the below.
My working assumption is that Covcityco Limited (or its subsidiary, Coventry City Football Club Limited, but my assumption is that it'd be Covcityco Limited) have acquired the share capital of Coventry Arena Propco Limited, Coventry Arena Ipco Limited, Coventry Arena Opco Limited and Coventry Arena Retail Limited. We know from Companies House that Covcityco Limited has at least 75% direct or indirect control of these companies since 23/08/25. Since Propco and Opco manage the various different leases covering the Arena and Arena Retail Limited operate the Arena, the club now owns the Arena (under the 230+ year lease, or whatever it now is). Hence why I state the direct proprietor of the lease remains Propco (and Opco for other leases), it is just that these companies are now owned by Covcityco Limited rather than Frasers.
We can't yet tell how the club has funded the acquisition - but your suggestion that it's from an investor in RCMA Group could well be correct.
We already know that there was an equity injection of £15m (for 1.22m shares, which equals a 10% stake) in May-25 into Covcityco Limited - we do not yet know where this came from. You'd imagine that there would have needed to have been further funding either from loans or equity to fund the acquisition.
If it was funded by a further equity injection, a SH01 form is required to be filed within one month of the date of the new share issue. So this theoretically means we'll know if new equity was used to fund the acquisition by 23/09/25. There is nothing filed on Companies House thus far. We know from the most recent accounts of Coventry City Club Limited filed in Feb-25 that Doug King owns 100% of Covcityco Limited - so if this new equity in Covcityco Limited is from a different source, we will at least see Doug's percentage ownership decrease (although we will unlikely be able to tell who the part new owner is).*
If it was funded by loans, we'll be able to see a significant increase in borrowings in the next set of accounts of Covcityco Limited, albeit it will not state who this loan is from (unless it was from Doug King as the sole director). If Doug has agreed any personal investments outside of Covcityco Limited, for which he then passes on to the club, again we will not see these, we will only know that the funds came from Doug and we will not be able to tell anything further (a bit like the £24m loaned by Doug to the club during FY24).*
There is of course the option that there is some sort of joint venture type agreement*, whereby Covcityco Limited controls at least 75% of the above mentioned companies with Frasers retaining the remaining stake (or there being another new party involved). This is possible and would reduce the price the club have paid to acquire the companies/Area. I consider this option much less likely.
At this stage, we do not know much more. But when the next set of financial statements of Covcityco Limited accounts, Frasers Group plc, FRS Estates Limited and Coventry Arena Retail Limited are filed, we might get some more information to piece some facts together.
*With each of these options, i'd expect that any new investor (in whichever form) would want a say in how the club, or at least the Arena, is operating, unless they were extremely trustworthy of Doug. So you could potentially see new director(s) appointed depending on the level of investment made by the new party, which again would help to shed light on where any new funding has come from.
I also wonder if Nicola Ibbetson, the new chief business officer, and Paul Tyrrrell, new chief operating officer, were both brought in to assist with what is now a much larger and impressive operation now that the club owns the Arena.
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northstander
Well-Known Member
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Calista
Well-Known Member
Blimey, that's unbelievably badYou would think CoventryLive/ Telegraph website would remove the WASPS link on its home page by now. Pretty embarrassing for a “local newspaper“
Wasps RFC - Coventry Telegraph
Wasps are an English professional rugby union team that moved to Coventry in 2014 after buying the Ricoh Arena, now called the Coventry Building Society Arena. The team compete in the Gallagher Premiership, Heineken Champions Cup and the Premiership Rugby Cup. You can find us on Facebook and...
Speedie's Head
Well-Known Member
I think that goes without saying. This deal has obviously not emerged over Friday night! King mentioned Nicola by name at the w/e.