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description= 1 post published by John Beech during December 2012;
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the (81), and (35), city (24), town (22), united (19), #stadium (17), football (16), club (16), coventry (14), 2011 (14), from (13), 2012 (13), 2010 (13), management (12), for (12), 2009 (11), site (10), that (10), this (9), was (9), update (9), new (8), latest (8), ownership (7), december (7), athletic (7), park (6), league (6), march (6), not (6), are (6), rovers (6), with (5), have (5), other (5), blog (5), county (5), will (5), rent (5), portsmouth (5), may (5), september (5), subscribe (4), comments (4), trust (4), share (4), has (4), news (4), sisu (4), arena (4), financial (4), which (4), its (4), can (4), twitter (4), email (4), april (4), june (4), august (4), november (4), january (4), february (4), afc (4), wordpress (3), com (3), log (3), supporters (3), investors (3), assets (3), opens (3), window (3), fratton (3), ricoh (3), there (3), been (3), announced (3), revenues (3), were (3), long (3), come (3), their (3), john (3), over (3), limited (3), charity (3), originally 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2012 december football management football management commentary on the management of over 160 english football clubs by dr john beech winner of the fsf writer of the year award 2009 10 twitter johnbeech curator of scoop it football finance home about courses links no of clubs overviews research resources recent posts content at coventry on coventry city hereford united and salisbury city not forgetting the owners directors test moving on from sisu out ready to come back onto the e pitch opening a can of worms for once a personal note part and parcel of the modern game the stadium curse pompey the turning point round up of season 2011 12 a little light uefanomics so is it really goodbye bluebirds hello red dragons deconstructing peter lorimer why i shall be especially grumpy this saturday afternoon the new broken time payments recent updates newest first worcester city update plymouth update cardiff debt down from guns to darts governance update fickle fate update intern shooting update russo v scally result olympic stadium latest jack frost update portsmouth latest liverpool inconsistency fifa political interference latest croydon athletic latest ilkeston latest welling update pompey lever latest portsmouth latest ilkeston update quick club searches accrington stanley afc liverpool afc telford afc wimbledon aldershot altrincham arsenal ashford town kent aston villa barnet barnsley barrow bedford town bicester town billingham town birmingham city blackburn rovers blackpool bolton wanderers boston united bournemouth bradford city bradford park avenue brentford brighton bristol city bristol rovers bromsgrove rovers burnley burscough burton albion bury cambridge city cambridge united canterbury city canvey island cardiff city carlisle united charlton athletic chelsea cheltenham town chester city afc chesterfield clacton coventry crawley crewe cromer town croydon athletic crystal palace dagenham redbridge darlington darwen derby county doncaster rovers dorchester town dover durham city eastbourne borough eastwood town ebbsfleet everton exeter city farnborough town farsley celtic fc united of manchester fisher athletic fleetwood flixton folkestone invicta folkestone town forest green fulham gateshead gillingham glossop north end grays athletic gresley rovers grimsby halesowen town halifax harlow town hartlepool havant waterlooville hereford united hinckley united histon hornchurch huddersfield town hull city hyde united ilkeston town ipswich town kettering town kidderminster harriers king s lynn kingstonian leeds united leicester city leigh rmi genesis lewes leyton orient lincoln city liverpool luton town macclesfield maidstone united manchester city manchester united margate merthyr tydfil middlesbrough millwall nelson newcastle blue star newcastle united newport county northampton town northwich victoria norwich city nottingham forest notts county nuneaton borough town oldham athletic oxford united peterborough united plymouth argyle poole port vale portsmouth preston north end queens park rangers racing club warwick reading redditch united ringmer rochdale rotherham united rothwell town rushden diamonds salisbury city scarborough sheffield sheffield wednesday sheffield united southampton southend united southport stafford rangers stockport county stoke city sunderland swansea swindon town tottenham hotspur tranmere rovers walsall watford welling united west bromwich albion weston super mare weymouth wigan athletic wimborne town windsor eton woking wolverhampton wanderers worcester city wrexham wycombe wanderers yeovil york city 2010 2012 2014 2018 2022 assets benefactors broadcasting rights cashflow censorship chutzpah community corruption costs debts economic impact ethics fans fifa financial doping fit and proper person tests football association football conference football league globetrotterisation governance health safety history hmrc human resource management identity insolvency investors journalism law marketing media merchandising organisational culture ownership players careers points deduction politics premier league promotion public relations pyramid movement relegation resurrection revenues sanctions sponsorship stadium strategy supporters trust transfer embargo transfers uefa wages archives september 2014 august 2014 march 2013 february 2013 january 2013 december 2012 november 2012 september 2012 june 2012 may 2012 april 2012 march 2012 february 2012 january 2012 december 2011 november 2011 october 2011 september 2011 august 2011 july 2011 june 2011 may 2011 april 2011 march 2011 february 2011 january 2011 december 2010 november 2010 october 2010 september 2010 august 2010 july 2010 june 2010 may 2010 april 2010 march 2010 february 2010 january 2010 december 2009 november 2009 october 2009 september 2009 august 2009 july 2009 june 2009 may 2009 april 2009 march 2009 site stats 240 140 hits new blog postings are announced on twitter as are update and latest comments germane comments which 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rss comments rss archive for december 2012 the stadium curse posted by john beech on december 3 2012 the topics of the stadium which has become separated from its club in ownership terms and the mixed blessing that a new stadium can bring are ones that i have covered in previous postings see postings passim the battle over fratton park is shortly to be resolved in court 1 the twisted history of portsmouth s financial ills and indeed its ownership ills seem to be moving towards a denouement certainly as a member of the pompey supporters trust and a strong advocate of fan ownership i want the trust to win the case they are not a directly participating party hence the quotation marks the case for a much lower valuation is a strong one and for once i m optimistic that the result will for once go the right way if it doesn t it will almost certainly mean the liquidation of the club and the fight to establish a resurrection club will begin in earnest no doubt nearer to home literally as i live and work in coventry if not metaphorically the issue of the ownership of the ricoh is almost as prominent on my radar its origins go back to the heady days when coventry was enjoying a notably long and unbroken run in the top flight dating back to 1967 and the managership of jimmy hill its then stadium at highfield road dated from 1899 and with a post taylor capacity of approximately 23 500 it lacked any of the facilities that a premier league stadium needed to compete from a business point of view it was not a million miles from fratton park to be honest in 1997 under the chairmanship of bryan richardson grand plans were announced for an ultra modern stadium to be built on a brown field site on the northern edge of the city close by junction 3 of the m6 and adjacent to the coventry nuneaton railway line arena 2000 as it was originally to be called was to be the envy of many a self respecting premier league with a retractable roof and a removable pitch making it ideal for other revenue generating activities such as pop concerts what could possibly go wrong well just about everything the brown field site which had been the site of foleshill gasworks proved problematic contamination of the site required two years of remedial work to make it reusable 2 the club was being operated unsustainably by 2003 debts were at a level of 20 million 3 and continued to rise 4 and rise 5 on the pitch gordon strachan failed in the battle to keep the club up in 2001 in 2002 it was only possible for the building project to continue with the formation of a new joint company arena coventry limited 6 50 owned by coventry city council and 50 by the alan edward higgs charity a wealthy local charity for children which has a strong sports interest sponsorship of the stadium by local car manufacturer jaguar itself under financial pressure fell through as production of their cars in coventry ceased 7 to cut a long and tortuous story short the stadium was built but to a significantly lower specification than originally planned capacity was reduced to 32 500 ricoh took on the sponsorship and championship coventry played their first game there in 2005 not that this proved a particular turning point for the club in 2007 a potentially club saving takeover by american consortium manhattan sports capital partners fell through 8 then having come within twenty five minutes of going into administration the club was acquired by venture capitalists sisu 9 although sisu planned to buy at least the 50 of the shares owned by the alan edward higgs charity this has not happened and the club continues to rent the stadium from arena coventry limited from the club s financial perspective the stadium is thus a monthly liability rather than the major asset and revenue generator originally envisaged relegation from the championship to league 1 in 2011 exacerbated an already difficult situation attendances and revenues were hit the agreed rent reported to be 100 000 per month became significantly unrealistic for a league 1 club to sustain again cutting a long story short the owners and club have been unable to agree a compromise rent that is realistic and the club sisu that is started a rent strike in march last year 10 obviously this is a situation that cannot run on indefinitely and in the last few weeks matters have come to a head with both sides apparently digging their heels in and maintaining collision course on the one hand deputy conservative leader john blundell says that acl may have to seek a winding up order over the unpaid arrears 11 while on the other coventry city chief executive tim fisher accuses arena coventry limited of pulling out of talks 12 whatever the rights and wrongs of the respective protagonists some compromise needs to be reached and rapidly as well as the two confrontational tales of fratton park and the ricoh there is a crumb of comfort on the stadium front at stockport county s edgeley park 13 where a deal has been announced that will see the club running the stadium at a reduced rent and retaining the revenues from it let s hope there will positive news to report shortly from both coventry and portsmouth share this share on facebook opens in new window facebook share on x opens in new window x share on reddit opens in new window reddit like loading posted in assets investors ownership stadium trusts tagged assets investors ownership stadium supporters trust 7 comments create a free website or blog at wordpress com subscribe subscribed football management join 129 other subscribers sign me up have a wordpress com account log in now privacy football management view site in reader manage subscriptions sign up log in report this content collapse this bar d design a site like this with wordpress com get started
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