Has our new CEO considered relegation yet?

With 2 wins on the board by the end of November, I'm pretty sure everyone connected with their (can't even say our anymore) club has considered another relegation.

 

I would hope the CEO isn't just considering relegation, but actively planning for it by now.

 

So even he, despite his not considering it originally, is now gearing up for relegation?
I wonder what changed his mind?

 

£150k p.a. would never be described as peppercorn. Peppercorn rent is essentially nominal, £150k isn't. Even if we were renting Wembley it wouldn't be properly described as peppercorn.

As to the repairing covenants within the lease, it's all speculation until someone has seen a copy. The document is available from the Land Registry, however I only have a work account for eservices and it's probably not a good idea for me to charge the work account for this type of stuff...

 

Though I wouldn't class it as peppercorn, its certainly a level that feels much below the level you'd expect for a rental given how much is provided within it.

For £12,500 a month, you get a stadium that has a potential working capacity of 20k+. There is a viewing facility for the less able. Changing rooms. Directors boxes. An executive suite and events space. There are areas to sell products, bar areas, food areas. There is a pitch. There are floodlights. A scoreboard. Dugouts. There is ample office space for all operations of the club. There is a car park that can be used to derive revenue. There are training pitches. An indoor all weather pitch. There are "classrooms" and fitness rooms.

West Ham pay £2.5m a year, though there has been dispute about whats included in there, I dunno, some shonky former mayor doing a bit of a favour for some tory donors!

But thats just the ground, training facilities are elsewhere and have additional costs.

You can argue its a newer ground. I'd argue its not fit for purpose having been in it a couple of times.

Circa £150k is unbelievably good value for a football club renting all of those facilities.

 

By seeking alternative employment maybe....?

 

What's his release clause...

 

In six years the Cryne's will have made £750,000 from the ground.

 

Any idea which document it is? I'll buy a copy

 

How you worked that?

6 x 150k = 900k

50% each to crynes and council is 450k

Or have I made a glaring error on my part?

 

They've already had 4 years. Ten years at 150 k is 1.5 million. Divided between the council and the Crynes is 750k each.

 

Ah. Didn't realise you added in previous years since the new owners came in.

Don't forget OCA ltd, was set up longer than 4 years ago in that case, and is due a few more years. So I guess it's where you are starting and ending from

 

I just thought it coincidental that the payment of 750k taken by the owners and the rent due to the Cryne's for that ten year period added up to 750k. It seems like robbing Peter to pay Paul.

 

We’ll see in January. Wouldn’t surprise me if we were 12-15 points behind and open to sell anybody as player market value is only going down. This will allow the club to compensate for the loss of £6 million in relegation.

 

See where your heading. It is a coincidence, yes. I agree.

But nothing surprises me these days with so many owners and percentages of each set up.

It's a total farce

 

The problem is it isn't a flat £150k. When we were in league one it was only £100k so over 10 years it isn't £1.5m

 

I think this team needs breaking up anyway.

If the club aren't going to be competitive in the Championship I'd rather it focus on the academy. If that means going as low as League 2 and starting again I'd be for it as long as I could see the direction the club was going in.

At the minute I can't see what the goal is.

The model works if the players you've got are decent. Woodrow is League 1 at best. I don't think anyone would want him. Helik has been shocking. I don't think he's putting it in to be honest. After a move away but he's been that crap his value would have fallen. Brittain won't have many suitors and Styles looks a player who might have already hit his peak based on performances. I don't think Palmer will sign a new deal and we'll be looking at compensation for him. Interesting that his performance has dipped since he's seen his midfield partner go to West Brom.

There isn't a quick buck here.

 

Title number SYK480957, Lease dated 26/11/2003 appears to be the one