Stadium update (55 Viewers)

[Terry Gibson's perm]

What we've got to remember is that the Arena has been underinvested in for a long time. Frasers have done a decent job tbf, but there's still loads to do to improve it. It'll take time - probably a few years - before it's really functioning fully.

Can't wait for the Facebook posts slagging Doug off for not fixing the wifi or replacing the Frasers Plus signs on the seats in the dugout by the end of next week.

Nothing is a rush, the Fraser signs don’t need moving until something better comes along (it could be part of the deal they have to stay for a while). Wasps spoke about replacing seats etc and look where that got them.

 

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[bigfatronssba]

Doug King has confirmed in his interview after the game he has bought lock stock and barrel.

And that its a 250 year lease.

None of us will ever see a CCFC home game outside the city again

 

[bigfatronssba]

Nothing is a rush, the Fraser signs don’t need moving until something better comes along (it could be part of the deal they have to stay for a while). Wasps spoke about replacing seats etc and look where that got them.

Its like when you move into a great house with decor that isn't to your liking.

You know its now yours, for as long as you want it. No one can take it away from you. So there is no need to rush with changing it

 

[SBbucks]

So I think we’ve paid £30m for the stadium.

Mike paid £17m and Doug offered £25m back then. Money has been spent of the complex by Frasers. So Frasers doubled this investment approx…

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.

 

[bigfatronssba]

Can we now petition Doug to offer out regular stadium tours?

I'd love to have a look behind the scenes and would raise a bit of cash for the club

 

[Silsden]

Incredible day and emotional for us all after the sh*te we’ve gone through. The noises earlier in the summer were ominous that we may end up without a deal to even play here. What a transformation the club has gone through in Doug’s tenure, and now we have instantly become a more investable prospect.

I think this is the route the club goes down, with Doug still as majority shareholder but with more outside investment to share the liabilities and help push us on. Whatever happens though, the club is a package deal with the stadium for once and it’s an incredible time to be a Sky Blue

we still need a CB though

 

[SkyBlueMatt]

This has been an incredible day, a truly special moment. It is absolutely ridiculous that we have won 7-1 after the news this morning.

Doug has done something magical. I just want us to be us. Doug has given us our club back but it wouldn't have happened without our incredible fans.

I've run out of superlatives to express how I feel about today.

All that's left to say is thank you, you silver haired sexy bastard. Just please don't sell us to some soulless yank or saudi when the time comes.

Sent from my M2101K6G using Tapatalk

 

[Earlsdon_Skyblue1]

I think we will be back in the Premier League in the next season, two at a push. Everything is aligning, and we are currently slaying teams.

If Doug wants to sell after that, I won't blame him at all. He deserves it, and he's left us in a much better position.

 

[robbiekeane]

Unless it’s to sell the club I don’t see the point here. Costs loads to maintain and makes no money, that’s why it’s been a hot potato from day one.

you’re actually such a fucking twat aren’t you

 

[robbiekeane]

I think we will be back in the Premier League in the next season, two at a push. Everything is aligning, and we are currently slaying teams.

If Doug wants to sell after that, I won't blame him at all. He deserves it, and he's left us in a much better position.

what a fucking time to be a city fan honestly.

i’ve been on the piss cor the last 24 hours for unrelated celebrations but my word what a time to be alive

 

[SkyB]

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.

I think Ashley saw the writing on the wall with it. No big stadium gigs this summer and with Villa and Blues branching there stadiums into the concert market, with much better transport links and more central, it reverts to being a football satdium rather than a venue.

 

[Saddlebrains]

Ive got the WiFi password

Happy to share it with people for £5 a pop

 

[skybluetony176]

Woke up this morning and the first thing I did was check the news reels to make sure yesterday wasn’t a dream. Grinning like a Cheshire Cat again.

 

[lord_garrincha]

Ive got the WiFi password

Happy to share it with people for £5 a pop

L005e_L1pped_k1tM4n

 

[skyblu3sk]

Unless it’s to sell the club I don’t see the point here. Costs loads to maintain and makes no money, that’s why it’s been a hot potato from day one.

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

 

[Nick]

So I think we’ve paid £30m for the stadium.

Mike paid £17m and Doug offered £25m back then. Money has been spent of the complex by Frasers. So Frasers doubled this investment approx…

Where's that from

 

[GC1976]

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.

 

[Balli001]

Where's that from

King said they paid 17 mil and it's safe to assume they have invested a fair amount. Kings interview also suggested we had paid a high figure

 

[Nick]

King said they paid 17 mil and it's safe to assume they have invested a fair amount. Kings interview also suggested we had paid a high figure

Which interview?

 

[Sky Blue Goblin]

Which interview?

He did a press conference post game, it’s on the CCFC youtube

 

[Ccfc1979]

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.

Didn’t Doug himself get rid of Boyle Sport and betting outlets at the ground as he is anti-gambling?

 

[Captain Dart]

Always remember my parents using the outdated name of "The Economic" to refer to the Cov Building Society.

Not sure it should be revived. The "EBS" sounds like a bowel related medical condition. I don't want our ground to be linked to that.

The name was changed when they acquired the Coventry Provident Building Society in the 1980's.

 

[Tommo1993]

Found it a nice touch that they’ve repainted the floors in the toilet. Almost covered the smell of booze and fags.

 

[shmmeee]

Which interview?

Yeah I missed this too cos the YouTube vid looks like the promo from the game. He says we paid a lot more than £17m

 

[shmmeee]

you’re actually such a fucking twat aren’t you

You’re nice. Use your big boy words yeah?

 

[Kneeza]

The name was changed when they acquired the Coventry Provident Building Society in the 1980's.

Yep. I seem to recall there was a branch of each at the very end (T junction) of Bell Green Road?
My memory plays tricks these days though.

 

[Grendel]

We’re still tenants? We have a 96 year lease or whatever.

Its 250 years which is essentially freehold

 

[Sky Blue Wozza]

Just out of interest whats the anecdote like on a non match day?

Not sure myself, but a friend of a friend reports that it’s quiet most of the time…but still a buzz around the place. Service good, food quality variable.

Purely anecdotal, though.

 

[CovInEssex]

View 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

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.

 

[Captain Dart]

We’re still tenants? We have a 96 year lease or whatever.

There are 230 years left on the lease, to put it in perspective this was the King 230 years ago.

 

[Captain Dart]

King said they paid 17 mil and it's safe to assume they have invested a fair amount. Kings interview also suggested we had paid a high figure

Doug said in his press conference was that initially he was prepared to offer £25m and he had probably paid too much for the stadium.
Frasers paid £17m and have put money in since. I figure the price was north of £25m but sufficient to pay back Frasers capital investments plus interest. Anyway it's not my money.

 

[Bad Boy]

Can we now petition Doug to offer out regular stadium tours?

I'd love to have a look behind the scenes and would raise a bit of cash for the club

And move the away fans over to the corner of the North & East stand (soon to be renamed The George & John stand) so they get the bloody sun in their eyes 🫩.
Seriously, there's much to improve at the arena and I'm certain it will be acted upon.

 

[tisza]

View 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

A large chunk of the capex was for last year so wouldn't appear until next accounts

 

[theferret]

Speaking to someone recently who had some dealings with Doug at the arena. Said that DK would often get really annoyed by the state of the arena externally, even offered to pay for it to be cleaned. I think we'll see a lot of investment, which is needed.

I don't particularly care what the financials look like historically, it has been run by idiots for much of its life and blighted by conflict and bad press. That tide seems to have turned already under Frasers and there is a huge amount of untapped commercial potential. Just needs investment, a coherent business plan and the right people in key positions. From here, I think the place takes off.

 

[clint van damme]

Its 250 years which is essentially freehold

I thought it was 96 as well. Not sure where I got that figure from to be honest.