If We Can It Round And Break Even - Dulieu (6 Viewers)

[par1sons]

is this bloke off his rocka or what??

http://www.coventrycity-mad.co.uk/n...und_and_break_even__dulieu_690284/index.shtml

the football club will never break even without owning half the ground and being in the premier league at the very least and with the squad the way it is at the minute there is only one way were going. Sorry chaps but im sick of hearing this same old crap. Premier league is a must to break even and better and that dream is a million miles away unless some poor old sod wants to lob 10 or 20 million at us.

The interactive training session was shambolic and outlined exactly how below par the squad are.

Poor squad, No money. I feel for Thorny, lets hope this guy can get the best out of this current flock of players.

Have i wasted £286 this year????

 

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[Otis]

Well 'If We Can It Round An Break Even' doesn't even make sense so it could well be he's off his rocker.

 

[gally9]

How nice to have you over here Otis! Just don't bring rumble with you!

 

[Nick]

Agreed, we wont ever make money in this league without the ground!

That thai had the right idea!

 

[AFCCOVENTRY]

We can break even if we don't pay wages...

oh i know...

let's not sign anyone and get rid of as many as possible

 

[asiansmurf]

We are now officially chaired by Forrest Gump

 

[Otis]

We're not a double act you know! Rumble wouldn't last 5 mins on here I don't think. Too civilised!

 

[asiansmurf]

Otis is it true you lost your job or was that just another one of your jokes? I hope t was a joke but if not you will easily find another. GOOD LUCK!!!!!

 

[cloughie]

'Speaking to BBC Coventry & Warwickshire, Mr Dulieu is quoted as saying: I will be going to Gary but this isn't about one individual. "There are a number of other investors. My job is to listen to anybody who has proof of funds and prepared to invest'

And there i was thinking the queue outside was for tickets for Saturdays game, turns out to be a number of other interested investors. ..................yer ok Ken we believe you

 

[Il Pirata]

Does this topic also come in English?

 

[Houchens Head]

Gobble-de-Gook land! "If We Can It Round And Break Even"... What is all that about!

 

[sky_blue_up_north]

err have I missed something, was that not always the case... SISU must think the fans are a bunch of idiots

 

[Moff]

Ken Doolally is a joke. Fact.

A complete and utter throbbing tool, and just makes random positive statements trying to appease the fans.

He reminds me of a monkey who has just discovered how to use tools, but in his case its talking and he seems to be able to say comments that make no freaking sense at all.

What a muppett:facepalm:

 

[oldskyblue58]

Think about it ......... the Board have obviously set about reducing costs, have discussed before that presently there has probably been £2m knocked off the wage bill (we have not replaced the players that left ) There is clearly more cost cutting going on, next thing is to increase the match day take (damn hard considering many have lost faith in what is going on so relying on increased crowds is a hope not an expectation). Should we sell some of our players then that will further reduce losses - big gamble with such a small squad.

So reduced wages and costs, increased crowds and income, sales of players could lead the club to break even. Not saying it will or can happen but that is the basis of his comments about turning the club around and maybe breaking even.

Oh and for the record buying 50% of ACL which owns the long lease of the Ricoh wont get us any additional income right now but it helps get us the longer term objective of owning the whole

 

[Il Pirata]

Ken Dulieu, Dulieu
He's oranger than me or you
He fucked up Southampton too
Ken Dulieu, Dulieu

 

[skyblueinBaku]

Think about it ......... the Board have obviously set about reducing costs, have discussed before that presently there has probably been £2m knocked off the wage bill (we have not replaced the players that left ) There is clearly more cost cutting going on, next thing is to increase the match day take (damn hard considering many have lost faith in what is going on so relying on increased crowds is a hope not an expectation). Should we sell some of our players then that will further reduce losses - big gamble with such a small squad.

So reduced wages and costs, increased crowds and income, sales of players could lead the club to break even. Not saying it will or can happen but that is the basis of his comments about turning the club around and maybe breaking even.

Oh and for the record buying 50% of ACL which owns the long lease of the Ricoh wont get us any additional income right now but it helps get us the longer term objective of owning the whole

What, no reduction in rent? No income from stadium events?

 

[oldskyblue58]

Rent is already discounted and it maybe renegotiated but why havent they already because they could do that now? 50% doesnt give CCFC control of ACL anything they want to do can be blocked by the council.

The income from events go to ACL - a seperate company, They would not have a right to 50% of that income.... only 50% the total accumulated profits less all accumulated losses (right now the balance sheet only shows accumulated losses). There are limited ways that CCFC can extract funds from ACL

generally
- charging a fee for work or services (they dont provide any)
- charging interest (they wont have made a loan to ACL so can't)
- charging a rent to ACL (ACL dont rent anything from them)
- Taking a dividend on the shares ( ACL currently have accumulated losses so any dividend would be illegal)
- receiving a loan ( all sorts of reasons why not)

Owning 50% does not guarantee income at all

 

[chiefdave]

Rent is already discounted and it maybe renegotiated but why havent they already because they could do that now? 50% doesnt give CCFC control of ACL anything they want to do can be blocked by the council.

The income from events go to ACL - a seperate company, They would not have a right to 50% of that income.... only 50% the total accumulated profits less all accumulated losses (right now the balance sheet only shows accumulated losses). There are limited ways that CCFC can extract funds from ACL

generally
- charging a fee for work or services (they dont provide any)
- charging interest (they wont have made a loan to ACL so can't)
- charging a rent to ACL (ACL dont rent anything from them)
- Taking a dividend on the shares ( ACL currently have accumulated losses so any dividend would be illegal)
- receiving a loan ( all sorts of reasons why not)

Owning 50% does not guarantee income at all

This is what's always concerned me, owning the stadium seems to be seen as a magic bullet to fix all our problems but as far as I can see there's a good chance we'd be worse off. Let's say we owned it 100% leasehold and freehold. There would be £1m less a year being paid out by CCFC but also £1m a year less coming into ACL so we're no better off there and we'd need to cover the losses of ACL, maintain the stadium etc. The only upside would be that we owned an asset we could mortgage but that's not really a good idea if we're losing money and ACL is losing money.

Surely there's a case that renting is actually a better option? Not being local I have no idea if the Ricoh is well run and income being maximised but I just can't see us taking it over and it suddently becoming a huge profit maker.

 

[oldskyblue58]

Think everyone assumes that if the stadium was owned by the club then it would be better run with more events and bigger profits. That assumes that the current management do not seek to maximise income/profits. Lets be honest CCFC do not have a great record for financial management do they

There is already a lease there for the hotel, the casino and football club so not much room to increase income there. There might be a saving in rent for the club were it to own all the stadium but as said that equals a loss in income to ACL. So the focus would be on events in the current format. The football club limits the number of days that other events can be put on at the stadium and the hotel usage. There are also other limiting factors to the events to be staged - the size of the event halls, the need to care for the pitch, lack of other hotels close by, lack of rail link etc.

I think buying the long lease is only the start of the investment monies needed HOWEVER I do think ownership is essential to the long term future of the club. But folk need to be aware that 50% ownership does not mean CCFC gets 50% of the sales of ACL.

 

[par1sons]

So reduced wages and costs, increased crowds and income, sales of players could lead the club to break even. Not saying it will or can happen but that is the basis of his comments about turning the club around and maybe breaking even.

we reduce the wages and our costs and we lose the current crap we have and get even crapper players in, this my friend will not increase crowds but decrease massively, income will be less.

The sale of players will be worth less in value because we will probably be playing in league 1 by then and we all know the further you go down the leagues and you can only hold out for upper hundred of thousands rather than millions unless you have a real gem on your hands.

I personally cannot see any light, we either chuck 10 million at getting back in the premier league fail and we die as a club or we carry on cost cutting to the point where we can just about stay afloat and slowly disappear to the lower leagues.

God...why did my dad support Cov!!

 

[oldskyblue58]

Only tried to explain the thinking of the Board nothing more ......... personally I cant see crowds increasing much either and for their strategy to work the income has to. They are gambling on the AT factor if you ask me

To be fair though we have spent in previous seasons and crowds have dropped off...... I think the real key to bigger crowds is providing successful attractive football ......... when did we last see a season of that ?

 

[Nonleagueherewecome]

Only tried to explain the thinking of the Board nothing more ......... personally I cant see crowds increasing much either and for their strategy to work the income has to. They are gambling on the AT factor if you ask me

To be fair though we have spent in previous seasons and crowds have dropped off...... I think the real key to bigger crowds is providing successful attractive football ......... when did we last see a season of that ?

The problem is that they are clueless enough about the game to really believe we can compete, despite weakening the squad. The reality may be that whilst it looks like cost-cutting until we are sustainable, as we fall through the divisions all income will decrease. Until we end up..well, my username (chosen for this very reason, as it's what I envisaged happening). If anything, SISU's strategy in the past few seasons had been almost the exact opposite of the stated one upon their arrival.

 

[shmmeee]

The problem is that they are clueless enough about the game to really believe we can compete, despite weakening the squad. The reality may be that whilst it looks like cost-cutting until we are sustainable, as we fall through the divisions all income will decrease. Until we end up..well, my username (chosen for this very reason, as it's what I envisaged happening). If anything, SISU's strategy in the past few seasons had been almost the exact opposite of the stated one upon their arrival.

With all due respect mate, I think you're a little too far towards the apocalyptic end of the scale.

Literally every single season since I started frequenting city forums like this (about 7 or 8 years) I've seen the same threads, the same "The end is nigh" attitude. "We have the worst squad I've ever seen" "The first 11 is OK but we have no strength in depth" "We WILL go down, FACT" "Can't see us beating anyone this year" "This is the strongest Championship EVAR!!" etc. etc.

Not saying we won't go down, just that it's not really any more or less likely than any one of the previous 7 or 8 seasons. We're pretty much one signing away from having a first 11 identical to the one that was so promising at the end of last season, plus the kids (Clarke, Turner, Hussey, Cameron) have all had another year to mature, plus a few more kids (Thomas, Bigirimana, Christie) have started to break through.

Realistically, we are where we were at the end of last season in most places. Yes we are short on bodies, but we were then too. I'd also argue that we are a lot stronger than we were when we had the likes of Andy Impey and Adam Virgo playing for us.

I don't know as much as OSB about the finance side so I'll defer to him, but having spent 5 minutes looking over this year's accounts it doesn't look like we've been slashing costs as much as some purport. Wages went up compared to the year before as did transfer spend. (this is May 2009-May 2010 remember).