Club meeting Kassam - 28th May

Eaststandboy

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So off the back of this winding up order being settled, the club are meeting Kassam on the 28th May to TRY and build a better relationship.

After two winding up orders pretty close together, I cannot see Kassam playing ball!

 

Navegante

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Acknowledgement from our mob that the strong-handed, willy waving played out in full view of the public was a complete failure?
 

AbbeyOx

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maybe this time will be different as bigger players involved (ET, AB etc) who will have experience dealing with vermin
 

Essexyellows

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FK talks business with emotional detachment, up until now the people owning the club have allowed emotions to intervene in negotiations.
I think some of these new folk may have an equally business focused approach.
They might blind side him with a cash offer that he would consider, stranger things have happened.
 
D

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FK talks business with emotional detachment, up until now the people owning the club have allowed emotions to intervene in negotiations.
I think some of these new folk may have an equally business focused approach.
They might blind side him with a cash offer that he would consider, stranger things have happened.

I think personally it would be better for the club if we bought the current stadium and finished it. We could build a 4th stand which has a club shop and sports bar built into it. We would get all the income from sponsors, match day revenue etc. Any purchase would need to be linked to the club so that the 2 can never be separated again.

The location of the current stadium isn't actually a bad one and easy to get to from pretty much all of the county. It has the benefit of planning houses being built around it increasing the potential for new fans.

What I would like to see is a 4th stand built with safe standing and have that as the new "london road" and rehouse the away fans in the east stand. It would also be easier to police games if away fans were housed at the far end.

The potential the Kassam Stadium currently has is massive, it is just a case of finding the £13million that Kassam wants for it.
 

ZeroTheHero

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The problem is finding someone prepared to pay £13M for something worth less than £8M (disclaimer: I made that up - but I bet it's worth nearer to my figure than Kassams!) and then prepared to pay the interest on such a loan, which would be more than we pay now in rent/fees/god-knows-what, and then to 'invest' even more in repairing it, finishing it and getting it up to standard. I think that's all quite unlikely as even a mate of Tiger's would want to see some possible way of getting his money back.
 

bert

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I think personally it would be better for the club if we bought the current stadium and finished it. We could build a 4th stand which has a club shop and sports bar built into it. We would get all the income from sponsors, match day revenue etc. Any purchase would need to be linked to the club so that the 2 can never be separated again.

The location of the current stadium isn't actually a bad one and easy to get to from pretty much all of the county. It has the benefit of planning houses being built around it increasing the potential for new fans.

What I would like to see is a 4th stand built with safe standing and have that as the new "london road" and rehouse the away fans in the east stand. It would also be easier to police games if away fans were housed at the far end.

The potential the Kassam Stadium currently has is massive, it is just a case of finding the £13million that Kassam wants for it.

I've had similar thoughts on the potential, the location and finishing it off too but it means the new owners forking out for it. Also, where is the money going to come from for them? They're not going to make a profit just because they get match day revenue, and if anything it would take decades to recoup what they put in, even if we were to get promoted.

I'd love to see the Kassam owned by the club, done up, a fourth stand and the corners filled in but that will cost loads with no benefit to the owners.

They must have some land lined up elsewhere that they can make a buck from, in the same way as Kassam did. I just don't see why they're all involved if there's no money to be made.
 
D

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I've had similar thoughts on the potential, the location and finishing it off too but it means the new owners forking out for it. Also, where is the money going to come from for them? They're not going to make a profit just because they get match day revenue, and if anything it would take decades to recoup what they put in, even if we were to get promoted.

I'd love to see the Kassam owned by the club, done up, a fourth stand and the corners filled in but that will cost loads with no benefit to the owners.

They must have some land lined up elsewhere that they can make a buck from, in the same way as Kassam did. I just don't see why they're all involved if there's no money to be made.

The conference centre which would come with the stadium makes a fair bit every year. I think between 1-2 million per year.

When the owners come to sell the stadium then the price for the club is a lot higher.
You also have thinks such as a company buying the naming rights to the stadium.
 

warksox

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The conference centre which would come with the stadium makes a fair bit every year. I think between 1-2 million per year.
The Firoka accounts show the entire stadium (including conference centre) has an annual turnover of c. £2m with an operating profit of c. £0.5m.
Take out the OUFC conribution from those numbers (rent and service charge) plus other concessions and it seems unlikely the conference centre can make more than about £100k per year.
 

Manorlounger

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The conference centre which would come with the stadium makes a fair bit every year. I think between 1-2 million per year.

When the owners come to sell the stadium then the price for the club is a lot higher.
You also have thinks such as a company buying the naming rights to the stadium.
Didn't we have all this discussed, at length, when Steward Donald and co. were looking? The answer then was it wouldn't pay as FK will never sell for less than the potential profit on the land beneath the stadium. Add in the investment required to bring the stadium up to an acceptable standard and you have an eye watering figure.
 
D

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Didn't we have all this discussed, at length, when Steward Donald and co. were looking? The answer then was it wouldn't pay as FK will never sell for less than the potential profit on the land beneath the stadium. Add in the investment required to bring the stadium up to an acceptable standard and you have an eye watering figure.

Couple of things...

1: I wouldn't take what SD says at face value. He has been known to bend the truth once or twice.

2: Under IL Barclays had approved the loan of £13 million to buy the stadium, this is the asking price Kassam wants. IL choose not to take the loan and as they say, the rest is history.
 

Manorlounger

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Couple of things...

1: I wouldn't take what SD says at face value. He has been known to bend the truth once or twice.

2: Under IL Barclays had approved the loan of £13 million to buy the stadium, this is the asking price Kassam wants. IL choose not to take the loan and as they say, the rest is history.

And it goes on and on. Personally, I would advocate leaving for a new build if, our new directors are prepared to take a punt on building big and with a return to match their investment.

Who knows what they have in mind, certainly not us! :rolleyes:
 

MarkG

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Couple of things...

1: I wouldn't take what SD says at face value. He has been known to bend the truth once or twice.

2: Under IL Barclays had approved the loan of £13 million to buy the stadium, this is the asking price Kassam wants. IL choose not to take the loan and as they say, the rest is history.

1 I’ll pass l
2. I think IL said the price (13 years ago) of £13M was fair based on £10M build cost for the stadium and a five times annual profit of 600k.
 

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