CCFC take up 2 year extension at Ricoh (1 Viewer)

AFCCOVENTRY · Dec 22, 2015

News incoming..,

Nick · Dec 22, 2015

http://coventryobserver.co.uk/news/deal-wasps-set-keep-coventry-city-ricoh-two-years/

Captain Dart · Dec 22, 2015

Quelle surprise!

rupert_bear · Dec 22, 2015

Let's be honest no surprise there, what we need to know is how we compete financially under these ffp rules, I still don't get how a club like Bury for example with their 5/6000 on a good day gates have more to spend on players than we do getting over double their gates

Grendel · Dec 22, 2015

rupert_bear said:
Let's be honest no surprise there, what we need to know is how we compete financially under these ffp rules, I still don't get how a club like Bury for example with their 5/6000 on a good day gates have more to spend on players than we do getting over double their gates

They did a bond that raised money and need to pay the investors their returns

rupert_bear · Dec 22, 2015

Grendel said:
They did a bond that raised money and need to pay the investors their returns

Could we do that ? Isn't the SISU business all about attracting investors ?

stupot07 · Dec 22, 2015

Makes sense. Can't see a long term deal remaining under such favourable conditions.

Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors

bawtryneal · Dec 22, 2015

rupert_bear said:
Could we do that ? Isn't the SISU business all about attracting investors ?

I know a couple of people associated with Bury and they are in deep trouble. Without promotion this season they are stuffed. I posted on this subject about four months ago.

Steve.B50 · Dec 22, 2015

Good, take the two years while the negotiate a longer deal on better terms.
At least they are now talking!

rupert_bear · Dec 22, 2015

There simply isn't a suitable location that I can think of within the city boundary, the Courtaulds site could have been a possibility but that is being re-developed now. Still think buying into the Wasp controlled Ricoh is the only option, excuse me while I spit, but think we need different owners for that to happen. It would bring in revenue.

Steve.B50 · Dec 22, 2015

Agree, I have even suggested it to our present owners.

Grendel · Dec 22, 2015

rupert_bear said:
Could we do that ? Isn't the SISU business all about attracting investors ?

Personally I would not advise it

http://www.theboltonnews.co.uk/news/11496724.Bury_FC_car_park_spaces_to_rent_at___10_000_each/

Captain Dart · Dec 22, 2015

Steve.B50 said:
Good, take the two years while the negotiate a longer deal on better terms.
At least they are now talking!

Just common sense. Glad that my moan about SISU taking negotiations to the last minute has proved unfounded, a degree of security is needed not only for the business but for the players, it is best they have no off pitch worries and can concentrate on performance levels.

rupert_bear · Dec 22, 2015

Probably agree, just watching Dragons den tells us all what investors are like

Nick · Dec 22, 2015

People suggest buying in with wasps, they don't want to sell any do they? If they did I'd hazard a guess at it being a lot more than they paid..

Captain Dart · Dec 22, 2015

rupert_bear said:
Probably agree, just watching Dragons den tells us all what investors are like

The_Coventry · Dec 22, 2015

Did anyone genuinely expect us to be anywhere else?

rupert_bear · Dec 22, 2015

Nick said:
People suggest buying in with wasps, they don't want to sell any do they? If they did I'd hazard a guess at it being a lot more than they paid..

Depends how deep the pockets are of those wanting to buy

Grendel · Dec 22, 2015

rupert_bear said:
Depends how deep the pockets are of those wanting to buy

The ACL business has a bad a credit rating as sisu and a colossal debt. A half share is worth nothing.

Speedies_Chips · Dec 22, 2015

Grendel said:
Personally I would not advise it

http://www.theboltonnews.co.uk/news/11496724.Bury_FC_car_park_spaces_to_rent_at___10_000_each/

I'd like to know what the take up on this was. Not great if the poll at the bottom is anything to go by.

Nick · Dec 22, 2015

rupert_bear said:
Depends how deep the pockets are of those wanting to buy

Would have thought we would want the club to get a half share as close to what was paid as possible? Would we really want to buy 50% for 5 - 10 x what they paid?

oldskyblue58 · Dec 22, 2015

Hardly surprising. Where else were they going to take 12000+ Sky Blue fans. There isn't anywhere else that those fans would go to for now is there?

So the terms are exactly the same. The second two years was at ACL's option not the club's according to the Wasp's prospectus. Again no real surprise.

So we would like to stay.
Ok
We would like the same terms
Ok

Just to be clear the income from events etc is not Compass's. If it was then that turnover would never appear in the Wasps Group Accounts. It is taken in through IEC Ltd and Compass take costs out of that for supplying staff and management.

I do wish the two local newspapers would quit the oneupmanship, the self justification, the look see how good we are, the cherry picking of comments to suit an argument ................... and just report clearly simply accurately and correctly.

Liquid Gold · Dec 22, 2015

It was always the most likely thing to happen. Hopefully this is the last short term deal we have and we use these 2 years to either make concrete steps towards a new stadium or becoming a partner in ACL

AFCCOVENTRY · Dec 22, 2015

Excellent...gives the club another 2 years to 'try' and find some land ... Cough cough...

Haigha · Dec 22, 2015

rupert_bear said:
There simply isn't a suitable location that I can think of within the city boundary, the Courtaulds site could have been a possibility but that is being re-developed now.

Tim Fisher said he wanted a 60 acre site, he then said two 30 acre sites would be possible. Even 30 acres is a big piece of land (to give you some perspective, I believe Highfield Road was about 5.5 acres).

If the club really does want to build a stadium and is prepared to settle for a Highfield Road sized site there may be some options. For example, I believe the current Carbodies site on Holyhead Road will soon become vacant - this is larger than Highfield Road and it might be possible to increase the size further (up to about 10 acres) if the allotments to the north west of the site are included. The Carbodies site is close to the city centre and is also adjacent to the same railway line that goes to the Ricoh Arena (reinstating Coundon Road station may be possible).

Otis · Dec 22, 2015

Haigha said:
Tim Fisher said he wanted a 60 acre site, he then said two 30 acre sites would be possible. Even 30 acres is a big piece of land (to give you some perspective, I believe Highfield Road was about 5.5 acres).

If the club really does want to build a stadium and is prepared to settle for a Highfield Road sized site there may be some options. For example, I believe the current Carbodies site on Holyhead Road will soon become vacant - this is larger than Highfield Road and it might be possible to increase the size further (up to about 10 acres) if the allotments to the north west of the site are included. The Carbodies site is close to the city centre and is also adjacent to the same railway line that goes to the Ricoh Arena (reinstating Coundon Road station may be possible).

I say knock down Bablake school cos Coventry doesn't do rich people.

Haigha · Dec 22, 2015

Otis said:
I say knock down Bablake school cos Coventry doesn't do rich people.

I had already thought along those lines... I thought we can do without Hearsall Golf Club and Beechwood Tennis Club...

thegameaintstraight · Dec 22, 2015

2 more years at the Ricoh on the same terms is a surely a good deal for CCFC.
But, there will be no new ground for 10 years if at all. Where do we go in 2years time?
Our esteemed owners really need to get down to some proper long term planning with wasps.
Some, any, open and honest communication from SISU would be good.

bawtryneal · Dec 22, 2015

I am surprised Wasps have agreed to two years. The real "earner" for Wasos will be the new naming rights ( or renegotiation with Ricoh) to the ground. I believe the Ricoh deal finishes next year. Whoever negotiates with Wasps will want CCFC there as a tenant. I believe SISU will use this as leverage.

Nick · Dec 22, 2015

bawtryneal said:
I am surprised Wasps have agreed to two years. The real "earner" for Wasos will be the new naming rights ( or renegotiation with Ricoh) to the ground. I believe the Ricoh deal finishes next year. Whoever negotiates with Wasps will want CCFC there as a tenant. I believe SISU will use this as leverage.

SOunds like ccfc wanted 2 years

bawtryneal · Dec 22, 2015

Nick said:
SOunds like ccfc wanted 2 years

I am sure they did. My point is I am surprised Wasps agreed. Mind you, hasn't been officially announced yet.

Captain Dart · Dec 22, 2015

Nick said:
SOunds like ccfc wanted 2 years

And a chance to renegotiate from a position of more strength when in the Championship which one hopes is sooner rather than later.

bawtryneal said:
I am surprised Wasps have agreed to two years. The real "earner" for Wasos will be the new naming rights ( or renegotiation with Ricoh) to the ground. I believe the Ricoh deal finishes next year. Whoever negotiates with Wasps will want CCFC there as a tenant. I believe SISU will use this as leverage.

Doubt they had a choice, why would they not just go with it for now, casting doubt on potential long term relationship with CCFC will do their ground sponsorship negotiations no end of harm.

ranstone · Dec 22, 2015

bawtryneal said:
I am surprised Wasps have agreed to two years. The real "earner" for Wasos will be the new naming rights ( or renegotiation with Ricoh) to the ground. I believe the Ricoh deal finishes next year. Whoever negotiates with Wasps will want CCFC there as a tenant. I believe SISU will use this as leverage.

As far as I understand the naming rights have already expired and it was this that was holding up the negotiations .... So it will be interesting to see what happens with the naming now.

bawtryneal · Dec 22, 2015

ranstone said:
As far as I understand the naming rights have already expired and it was this that was holding up the negotiations .... So it will be interesting to see what happens with the naming now.

I was told it expired on March 31st 2016. Will be interesting to see the outcome of the negotiations.

Otis · Dec 22, 2015

thegameaintstraight said:
2 more years at the Ricoh on the same terms is a surely a good deal for CCFC.
But, there will be no new ground for 10 years if at all. Where do we go in 2years time?
Our esteemed owners really need to get down to some proper long term planning with wasps.
Some, any, open and honest communication from SISU would be good.

2 years does seem rather short sighted, for as you say, any new stadium would be years away, but hopefully this is just a grounding, a start to further negotiations in earnest.

CCFC take up 2 year extension at Ricoh (1 Viewer)

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