ACL: "If (when?) City go down, we won't reduce the rent" (1 Viewer)

[oldskyblue58]

Essentially BSB it is the vehicle that the Council and Charity used to help yes (it is a bit more complicated than that companies owning companies and leases being transferred but yes). Without the help of ACL, the Charity and Council the club could well have been out of business long before SISU got here.

 

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[rob9872]

OSB if you could be so kind sir please ... how much money did ACL make in the last couple of years and how much is the income generated from car-parking and matchday food outlets etc that are over and above the 17%? Apologies for being lazy as I'm sure its all out there, I just figured you may have the details close to hand.

 

[oldskyblue58]

Hi rob - not got the accounts to hand so this is from memory

Turnover is approx £6.6m pa and ACL make £550k from that after costs. The accounts are not going to split out the various sources of income however a whole chunk of any such income will not be just CCFC derived. For instance whether it is ACL or a third party operating the car parks then that income relates to all events at the stadium not just CCFC matches. A lot of the stuff there is run by Compass and they have paid ACL a fee to do so (thats my understanding anyway)

If the CCFC rental disappeared ...... some would be made up from other events, there would be some cost savings and before making a loss each year ACL have £550K to play with

hope that helps

 

[Grendel]

It does help. I cannot understand why the moving ground discussion keeps cropping up. It's so unrealistic it's embarrassing.

 

[rob9872]

Many thanks as always OSB

 

[stnomskyblue]

Hi rob - not got the accounts to hand so this is from memory

Turnover is approx £6.6m pa and ACL make £550k from that after costs. The accounts are not going to split out the various sources of income however a whole chunk of any such income will not be just CCFC derived. For instance whether it is ACL or a third party operating the car parks then that income relates to all events at the stadium not just CCFC matches. A lot of the stuff there is run by Compass and they have paid ACL a fee to do so (thats my understanding anyway)

If the CCFC rental disappeared ...... some would be made up from other events, there would be some cost savings and before making a loss each year ACL have £550K to play with

hope that helps

Thanks, OSB.

I also cannot understand all this talk of moving to another ground. It would cost millions and where will that come from??? The rent for the Ricoh is not unreasonable. We just need a decent bit of entertainment to bring in the crowds. Now there's a more interesting topic

 

[ccfcway]

BUMP


:jerkit::jerkit::jerkit:

 

[dongonzalos]

Originally Posted by oldskyblue58
Hi rob - not got the accounts to hand so this is from memory

Turnover is approx £6.6m pa and ACL make £550k from that after costs. The accounts are not going to split out the various sources of income however a whole chunk of any such income will not be just CCFC derived. For instance whether it is ACL or a third party operating the car parks then that income relates to all events at the stadium not just CCFC matches. A lot of the stuff there is run by Compass and they have paid ACL a fee to do so (thats my understanding anyway)

If the CCFC rental disappeared ...... some would be made up from other events, there would be some cost savings and before making a loss each year ACL have £550K to play with

hope that helps


OSB does the above mean if SISU get the Higgs share they would recoup 500k a month?

 

[oldskyblue58]

Originally Posted by oldskyblue58
Hi rob - not got the accounts to hand so this is from memory

Turnover is approx £6.6m pa and ACL make £550k from that after costs. The accounts are not going to split out the various sources of income however a whole chunk of any such income will not be just CCFC derived. For instance whether it is ACL or a third party operating the car parks then that income relates to all events at the stadium not just CCFC matches. A lot of the stuff there is run by Compass and they have paid ACL a fee to do so (thats my understanding anyway)

If the CCFC rental disappeared ...... some would be made up from other events, there would be some cost savings and before making a loss each year ACL have £550K to play with

hope that helps


OSB does the above mean if SISU get the Higgs share they would recoup 500k a month?

no ..... the circumstances have not changed that i know of..... unless ACL does a deal to transfer some income streams to CCFC or to reduce the rent then only way they can get income is by dividend and ACL cant pay one at the moment. In fact if some income streams go to CCFC from ACL it makes it harder to pay a dividend from ACL because it will make less profits

 

[skyblueman]

Someone's going to have to cut their losses sooner or later... the current CCFC business model simply isn't viable.. CCFC director's have a legal responsibility to make sure the company is solvent if the income stream doesn't cover the outgoings - which clearly it doesn't and is only going to get a lot worse - there HAS to be a pretty solid guarantee that money will come in from the parent company or somewhere else to plug the gap.... auditors will make a statement on this in the accounts .. it's standard and gives their opinion on whether the company is viable going forward... if the directors ignore all this then they are legally personally liable for over-trading...

 

[dongonzalos]

Completely confused then.

So they say they need half the stadium to cut the loses every month and head to wards break even point. However in reality they wont be doing this.

Thus the only reason they want to do the deal is to sell the whole package?

 

[wingy]

So we now know Sisu have not as yet defualted on the rent as ACL are drawing that down from the Escrow account ,the equivlilent of the bond you or i would put up front if we were renting a private property.Raising the question as to how its been presented in the local media .I'm not defending Sisu here but is this just more poor journalism from the CT or does it suit others or even Sisu's agenda ?This also leads to them being in breach of agreement with ACL over renting the Arena and somehow at some point will have to be addressed legally and/ or topped back up,how they going to do that ?