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another Les Reid article (1 Viewer)

  • Thread starter torchomatic
  • Start date Mar 11, 2015
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torchomatic

Well-Known Member
  • Mar 11, 2015
  • #1
http://www.coventryobserver.co.uk/2...ioned-after-Wasps-reveal-22m-debt-129026.html
 
D

Deleted member 5849

Guest
  • Mar 11, 2015
  • #2
Going out on a Limb this time.
 

SkyBlue_Bear83

Well-Known Member
  • Mar 11, 2015
  • #3
He said: "Sports companies get money from three areas - TV, money from fans, and commercial income.

"Commercial income is being effectively taken over by Wasps.

"There's an analogy with Stockport County Football Club which rented its stadium from Sale Sharks (rugby). Stockport County have dropped to one league below the conference. There is no way up for them.
"This is what I fear for Coventry City. Unless you have a benefactor or you get lucky with a squad of players which I don't think Coventry currently has, there is no way up."
 
T

The Gentleman

Well-Known Member
  • Mar 11, 2015
  • #4
torchomatic said:
http://www.coventryobserver.co.uk/2...ioned-after-Wasps-reveal-22m-debt-129026.html
Click to expand...

Do you ever buy the Telegraph?
 

SkyBlue_Bear83

Well-Known Member
  • Mar 11, 2015
  • #5
London Wasps Holdings Limited's £22million of reported outstanding loans include to a Maltese parent company and owner Derek Richardson.

The debt is on top of the £13.4million owed to the council by the now Wasps owned Arena Coventry Limited.
 

Astute

Well-Known Member
  • Mar 11, 2015
  • #6
So it should have been sold to SISU where the debt is said to be 60m as the 22m Wasps owe is too much? Maybe this is why SISU didn't want to take on the 14m loan.
 

Sky Blue Kid

Well-Known Member
  • Mar 11, 2015
  • #7
@ Torchy...What is it with you and any bit of shit you can find against CCC or Wasps? I'd take a trip to you local GP if I were you. something seriously wrong with your bitter hatred anything CCC/Wasps.
 

Sky Blue Kid

Well-Known Member
  • Mar 11, 2015
  • #8
@ Torchy....Putting banter aside for a minute, you're heading for a dark place mate, been there done that got the DVD.
 

torchomatic

Well-Known Member
  • Mar 11, 2015
  • #9
Nope. Read it everyday on line.

The Gentleman said:
Do you ever buy the Telegraph?
Click to expand...
 

torchomatic

Well-Known Member
  • Mar 11, 2015
  • #10
I've just posted a link you fool. Nothing more. I post loads of links as do others.

Sky Blue Kid said:
@ Torchy...What is it with you and any bit of shit you can find against CCC or Wasps? I'd take a trip to you local GP if I were you. something seriously wrong with your bitter hatred anything CCC/Wasps.
Click to expand...
 
D

Deleted member 5849

Guest
  • Mar 11, 2015
  • #11
The Gentleman said:
Do you ever buy the Telegraph?
Click to expand...

My free post is very strange recently; copies of the Observer, and some strange glossy magazine telling me how great Anne Lucas and co. are!
 

Monkeyface

Well-Known Member
  • Mar 11, 2015
  • #12
To be fair to Torch he has only shared a news article... He hasn't actually wrote the story.
 
L

lapsed_skyblue

Well-Known Member
  • Mar 11, 2015
  • #13
Wasps have £22 million + £14.3 million of ACL debt. They have a long term lease on an asset.
CCFC is a subsidiary of a company with £40+ million of debt and no significant assets.
So, if SISU had bought the Ricoh on similar terms as Wasps it would be fairly easy to amend this article with a bit of find and replace editing wouldn't it?
 

SkyBlue_Bear83

Well-Known Member
  • Mar 11, 2015
  • #14
Sky Blue Kid said:
@ Torchy...What is it with you and any bit of shit you can find against CCC or Wasps? I'd take a trip to you local GP if I were you. something seriously wrong with your bitter hatred anything CCC/Wasps.
Click to expand...

It's not as if he wrote the article is it, he just posted it because it about CCFC and gives a different perspective to the situation. Just because you don't agree with and the article may be unpopular, others it may be of interest to.
 

torchomatic

Well-Known Member
  • Mar 11, 2015
  • #15
Apparently not. Sbk and the gent have an unhealthy obsession.

Monkeyface said:
To be fair to Torch he has only shared a news article... He hasn't actually wrote the story.
Click to expand...
 

skybluetony176

Well-Known Member
  • Mar 11, 2015
  • #16
I think LR is applauding the council for selling to wasps instead of the even more in debt ridden CCFC. Strange stance for Les. I really didn't see this coming.
 
D

Deleted member 5849

Guest
  • Mar 11, 2015
  • #17
torchomatic said:
Apparently not. Sbk and the gent have an unhealthy obsession.
Click to expand...

Not only gutted my weak attempt at a pun passes without likes, but also mildly surprised nobody's cutting down Mr. Limb's credentials as we speak
 
Last edited by a moderator: Mar 11, 2015

SkyBlue_Bear83

Well-Known Member
  • Mar 11, 2015
  • #18
skybluetony176 said:
I think LR is applauding the council for selling to wasps instead of the even more in debt ridden CCFC. Strange stance for Les. I really didn't see this coming.
Click to expand...

Aside from that it also makes some telling points about how the club gets virtually 0 commercial income from the Ricoh and how renting off a rugby club finished off Stockport and how under the current arrangement there is no way up for the club in the opinion of a football finance expert.
 

torchomatic

Well-Known Member
  • Mar 11, 2015
  • #19
Unfortunately for you and your pun, i posted the link so for those two that's all that matters.

Deleted member 5849 said:
Not only gutted my weak attempt at a pub passes without likes, but also mildly surprised nobody's cutting down Mr. Limb's credentials as we speak
Click to expand...
 

Astute

Well-Known Member
  • Mar 11, 2015
  • #20
CCFC said:
It's not as if he wrote the article is it, he just posted it because it about CCFC and gives a different perspective to the situation. Just because you don't agree with and the article may be unpopular, others it may be of interest to.
Click to expand...

It is of interest. But it is as much use as an article would be if it was praising CCC for selling to Wasps.
 

Sky Blue Kid

Well-Known Member
  • Mar 11, 2015
  • #21
torchomatic said:
I've just posted a link you fool. Nothing more. I post loads of links as do others.
Click to expand...
That's right you do Torchy, only it's ALL anti CCC/Wasps links mate. You go out of your way looking for them. Just for "Balance" why don't you go out of your way to find some anti SISU/Otium shit for a change shouldn't be too hard eh?
 

torchomatic

Well-Known Member
  • Mar 11, 2015
  • #22
No it's not his usual "style" so obviously gent and sbk slagged me off before even reading it.
skybluetony176 said:
I think LR is applauding the council for selling to wasps instead of the even more in debt ridden CCFC. Strange stance for Les. I really didn't see this coming.
Click to expand...
 

Hobo

Well-Known Member
  • Mar 11, 2015
  • #23
But owners, the Sisu group of companies, have pledged to keep funding the club for the next 12 months.

Read more: Coventry council Ricoh deal questioned after Wasps reveal £22m debt | Coventry Observer

this is the key bit for me....is that a commitment to a new stadium? Is that why Tony Mowbray has a contract only until the end of the season? Does it explain why as soon as they get an offer of cash on a promising player they cash them in, rather than build for the future?


 

Astute

Well-Known Member
  • Mar 11, 2015
  • #24
Hobo said:
But owners, the Sisu group of companies, have pledged to keep funding the club for the next 12 months.

Read more: Coventry council Ricoh deal questioned after Wasps reveal £22m debt | Coventry Observer

this is the key bit for me....is that a commitment to a new stadium? Is that why Tony Mowbray has a contract only until the end of the season? Does it explain why as soon as they get an offer of cash on a promising player they cash them in, rather than build for the future?


Click to expand...

The commitment to our club seems to be whilst the ongoing litigation continues. As I have said before I think it might be Mowbray that wants to see a bit of commitment towards the squad for next season before he signs a longer contract.
 

Sky Blue Kid

Well-Known Member
  • Mar 11, 2015
  • #25
@ Torchy....Of course I've read the magnificent Les Reid article. Plenty of Wasps/CCC bashing but fuck all SISU/Otium bashing eh? No mention of the "Missing Millions" as that being suggested by "The Sky Blue Trust" Just for balance eh Torchy!
 

torchomatic

Well-Known Member
  • Mar 11, 2015
  • #26
I think you should look at the other links I've posted.

Sky Blue Kid said:
That's right you do Torchy, only it's ALL anti CCC/Wasps links mate. You go out of your way looking for them. Just for "Balance" why don't you go out of your way to find some anti SISU/Otium shit for a change shouldn't be too hard eh?
Click to expand...
 

Astute

Well-Known Member
  • Mar 11, 2015
  • #27
Sky Blue Kid said:
@ Torchy....Of course I've read the magnificent Les Reid article. Plenty of Wasps/CCC bashing but fuck all SISU/Otium bashing eh? No mention of the "Missing Millions" as that being suggested by "The Sky Blue Trust" Just for balance eh Torchy!
Click to expand...

No need to bash SISU/OTIUM. We all know they are shit
 

Covcraig@bury

Well-Known Member
  • Mar 11, 2015
  • #28
Hobo said:
But owners, the Sisu group of companies, have pledged to keep funding the club for the next 12 months.

Read more: Coventry council Ricoh deal questioned after Wasps reveal £22m debt | Coventry Observer

this is the key bit for me....is that a commitment to a new stadium? Is that why Tony Mowbray has a contract only until the end of the season? Does it explain why as soon as they get an offer of cash on a promising player they cash them in, rather than build for the future?--------
They are cashing in there assets to recoup invested monies . As there are no other revenue streams to have. It's how they pay off loans/investments. What eels can they do Barr than asset strip what's in front of them !!!!


Click to expand...
 

skybluetony176

Well-Known Member
  • Mar 11, 2015
  • #29
CCFC said:
Aside from that it also makes some telling points about how the club gets virtually 0 commercial income from the Ricoh and how renting off a rugby club finished off Stockport and how under the current arrangement there is no way up for the club in the opinion of a football finance expert.
Click to expand...

Yep. Basically there is no way out of this hole with SISU. Another strange stance from Les I didn't see coming.
 
K

Kingokings204

Well-Known Member
  • Mar 11, 2015
  • #30
Anything new in this article or have I missed something?

Seems to be as pointless and as fruitless as the other 20 articles from mr Reid I have unfortunately lost time reading.
 

Hobo

Well-Known Member
  • Mar 11, 2015
  • #31
Astute said:
The commitment to our club seems to be whilst the ongoing litigation continues. As I have said before I think it might be Mowbray that wants to see a bit of commitment towards the squad for next season before he signs a longer contract.
Click to expand...

It doesn't matter whether it is a lack of commitment by SISU or Tony Mowbray re the contract, that lack of commitment signals the tenuous circumstances around our club and raises doubts about our longevity.
 

skybluetony176

Well-Known Member
  • Mar 11, 2015
  • #32
torchomatic said:
No it's not his usual "style" so obviously gent and sbk slagged me off before even reading it.
Click to expand...

SBK is just jealous because he doesn't know how to post a link
 

Astute

Well-Known Member
  • Mar 11, 2015
  • #33
Hobo said:
It doesn't matter whether it is a lack of commitment by SISU or Tony Mowbray re the contract, that lack of commitment signals the tenuous circumstances around our club and raises doubts about our longevity.
Click to expand...

Not so sure. They could have kept SP. They didn't. They got Mowbray. He won't be a free signing. They only have to guarantee 12 months at a time. Just like they have done previously.
 

Ian1779

Well-Known Member
  • Mar 11, 2015
  • #34
Sky Blue Kid said:
@ Torchy....Of course I've read the magnificent Les Reid article. Plenty of Wasps/CCC bashing but fuck all SISU/Otium bashing eh? No mention of the "Missing Millions" as that being suggested by "The Sky Blue Trust" Just for balance eh Torchy!
Click to expand...

To be fair the Trust struggle to manage their own accounts with all those pounds they have.... people in glass houses and all that.
 
J

Jack Griffin

Guest
  • Mar 11, 2015
  • #35
torchomatic said:
http://www.coventryobserver.co.uk/2...ioned-after-Wasps-reveal-22m-debt-129026.html
Click to expand...

Think you just trebled the amount of hits on that site by posting that link here.
http://www.alexa.com/siteinfo/skybluestalk.co.uk UK rank 18,528
http://www.alexa.com/siteinfo/coventryobserver.co.uk UK rank 76,450
http://www.alexa.com/siteinfo/coventrytelegraph.net UK rank 3,097
 
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