tisza
Well-Known Member
A large chunk of the capex was for last year so wouldn't appear until next accounts
A large chunk of the capex was for last year so wouldn't appear until next accountsView attachment 45447
23 was for 6 months but my read is heading in the right direction, losses halved admin costs roughly flat. What I can't spot is where they are putting in investment in to the arena as they don't seem to split capex out so I wonder if that is being included in administrative expenses which I think would be surprising. Accounts here
Its 250 years which is essentially freehold
Kind of agree with those guestimated valuations - £30m/40m ish.During a CBSA tour earlier this month, the Arena head of operations (working for Frasers) said that Frasers had invested £13m in infrastructure in the first year after purchase so Frasers considered it a £30m investment (including the £17m purchase price). I suspect we’ve paid upwards of that as I’m sure they won’t be selling it at a loss.
There was a spreadsheet when Wasps went bust detailing a huge amount (in the tens of millions) of maintenance that needed doing. Some of it pretty critical stuff like fire alarms and CCTV.Large chunks of the administrative spending will be maintenance. Things you only do every 5/10 years that Wasps never did. The Turnover increase coupled with the Gross Margin increase are very impressive.
North of the £40m ball park I was thinking yesterday. Maybe the accounts will tell us next year but he was strangely coy about it.Also the building costs involved with a new stadium are eye wateringly high eg this arena cost £113m, so if were buying it for £30m/£40m, that looks a bit of a bargain.
Don't forget that Tesco paid a lot too.How much would it cost us to build our own stadium with casino hotel exhibition hall with 11,000 capacity and 3 car parks today ??
Yes , generally though what would that cost .. I bet weve paid a fraction of what it would cost today brand newDon't forget that Tesco paid a lot too.
I think the Council extended the original 100 year lease ACL had to 250 years when they sold the stadium to Wasps.I thought it was 96 as well. Not sure where I got that figure from to be honest.
Wasps valued it at £60m when they launched their bond scam.There was a spreadsheet when Wasps went bust detailing a huge amount (in the tens of millions) of maintenance that needed doing. Some of it pretty critical stuff like fire alarms and CCTV.
While I doubt that everything has been completed if a good chunk of that has been done then maybe we're not that much worse off than if King had bought the place when he bought the club.
In fact you could probably argue that having Kings focus on the club initially rather than having to deal with a run down stadium was an advantage.
North of the £40m ball park I was thinking yesterday. Maybe the accounts will tell us next year but he was strangely coy about it.
I remember the insane level of abuse when anyone dared to question the valuationWasps valued it at £60m when they launched their bond scam.
I think the Council extended the original 100 year lease ACL had to 250 years when they sold the stadium to Wasps.
Wasps valued it at £60m when they launched their bond scam.
It wouldn't be doable outside the prem I don't think. Even in America the Cities generally fund the local stadiums but that's illegal over here.Yes , generally though what would that cost .. I bet weve paid a fraction of what it would cost today brand new
And that its a 250 year lease.
None of us will ever see a CCFC home game outside the city again
Maybe you're right, maybe a bit of both. He hinted that he paid more than he would have liked to anyway.I thought it sounded more like he couldn't say rather than wouldn't.
over 9 figures and that wouldbe without all the Tesco bit etc (which obviously factored in the original land purchase and decontamination etc), I've got the actual arena build and furbishment costs somewhere.(separate from the tesco bit)How much would it cost us to build our own stadium with casino hotel exhibition hall with 11,000 capacity and 3 car parks today ??
There was a spreadsheet when Wasps went bust detailing a huge amount (in the tens of millions) of maintenance that needed doing. Some of it pretty critical stuff like fire alarms and CCTV.
While I doubt that everything has been completed if a good chunk of that has been done then maybe we're not that much worse off than if King had bought the place when he bought the club.
In fact you could probably argue that having Kings focus on the club initially rather than having to deal with a run down stadium was an advantage.
Wonder what the EFL will think of a Club running a casino at their HOME ground ? Will they allow it given the allergies to gambling in sport these days.
Oh dear. Nobody is interested?In the SkyBet Championship? Yeah really bothered .
Wonder what the EFL will think of a Club running a casino at their HOME ground ? Will they allow it given the allergies to gambling in sport these days.
Oh dear. Nobody is interested?
Not really. And we don't 'run a casino', we own a commercial property that sub-lets part of that complex to a licensed 3rd party operator than runs one. It's a complete non issue.
Without wishing to create a blue dress controversy, it's anthracite grey, no? My eyes aren't exactly tip top though, so maybe it's me.In regards to the stadium refurbishment.
The part of the stadium thats been painted navy blue by the glass by the away end looks fantastic and clean .
Wouldn't be against the entire end being painted that colour tbh
I wouldnt argue , thought it looked very nice and wouldnt be against it .Without wishing to create a blue dress controversy, it's anthracite grey, no? My eyes aren't exactly tip top though, so maybe it's me.
King did say everything was 100% owned by the club. I wasn't assuming a loan/mortgage from that statement. With the way that the club structures its assets perhaps the football side will pay into the estate side of things. It's probably too early to say.For those (incredibly) still debating whether this is a positive move…
It’s like buying a house with a mortgage; there will be interest to pay on the loan, but at the end of the term, you own an asset vs. renting where you don’t get anything back.
As with a mortgage, you need a chunky deposit - that’s where I think the £15m from earlier in the summer comes in- so, if we assume that’s 40% of the asset value, and we’re borrowing on a 35 year term, with a 4% rate of interest:
- Arena value: £37.5m
- Loan (borrowed): £22.5m
- Monthly repayment: ~£99,624
- Annual repayment: ~£1.20m
So, for approx. the same amount that we were allegedly paying in rent per year, we are paying towards truly owning our own ‘home’ - with the incentive of new revenue streams to offset the loan repayment (assuming the various assets aren’t loss making). If they are loss making, then we reset / reconsider the usage. This all requires working capital, of course, but thats the same with any business.
Either way, I think the medium / long term outlook is very encouraging!
You'd have to say though , we are a much more attractive club for investors than we were 48 hours ago .King did say everything was 100% owned by the club. I wasn't assuming a loan/mortgage from that statement. With the way that the club structures its assets perhaps the football side will pay into the estate side of things. It's probably too early to say.
How much would it cost us to build our own stadium with casino hotel exhibition hall with 11,000 capacity and 3 car parks today ??
I don't understand what you mean.You'd have to say though , we are a much more attractive club for investors than we were 48 hours ago .
An 11,000 capacity exhibition hall too .. so much potential to be tapped into
I don't understand what you mean.
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