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Has any club gone down the gurgler more than Coventry after moving into a new stadium?. Having just moved back into the Ricoh its now been sold to London Wasps. Makes you realise how lucky we were to have Mr Whelan and the Council working together on our gaff. Also WTF do Wasps hope to gain by moving from London to the Midlands?. Coventry already has a Rugby Union Club and the surrounding towns like Nuneaton,Hinckley, Atherstone and Bedworth are predominantly Leicester Tigers strongholds. This move by Wasps makes no sense on any level whatsoever. I feel sorry for Coventry fans and i’m certain they would have loved an owner like ours even though some think he is the anti-Christ. I personally count our blessings Mr Whelan is at the helm.
Has any club gone down the gurgler more than Coventry after moving into a new stadium?. Having just moved back into the Ricoh its now been sold to London Wasps. Makes you realise how lucky we were to have Mr Whelan and the Council working together on our gaff. Also WTF do Wasps hope to gain by moving from London to the Midlands?. Coventry already has a Rugby Union Club and the surrounding towns like Nuneaton,Hinckley, Atherstone and Bedworth are predominantly Leicester Tigers strongholds. This move by Wasps makes no sense on any level whatsoever. I feel sorry for Coventry fans and i’m certain they would have loved an owner like ours even though some think he is the anti-Christ. I personally count our blessings Mr Whelan is at the helm.I’d say that Darlington went down the gurgler even faster & further after building a new stadium. Went bust & the phoenix club is now playing in the same division as Bamber Bridge & play their home games at Bishop Auckland’s ground.
Coventry’s problem from what I can gather is that they didn’t pay towards the funding of the ground at all as it was a council initiative. Any money made from the sale of Highfield Road seems to have gone into their coffers presumably to pay debts etc.. They then have to pay rent to use the stadium (a seemingly fixed amount agreed when they were at a higher level & with the hope of getting back into the top flight) & as their income went down they couldn’t afford to pay that amount & are unable to make any money from the stadium in terms of hiring it out.
Seems to me that they took a short term financial boost (new stadium without having paid & keep the money from highfield road) without thinking of the long term implications
Wasp’s it seems are now buying the ground & honouring the recent deal that got Coventry City back playing there but its Wasps who will be taking in the estimated £21mill a year that the Ricoh generatesHas any club gone down the gurgler more than Coventry after moving into a new stadium?. Having just moved back into the Ricoh its now been sold to London Wasps. Makes you realise how lucky we were to have Mr Whelan and the Council working together on our gaff. Also WTF do Wasps hope to gain by moving from London to the Midlands?. Coventry already has a Rugby Union Club and the surrounding towns like Nuneaton,Hinckley, Atherstone and Bedworth are predominantly Leicester Tigers strongholds. This move by Wasps makes no sense on any level whatsoever. I feel sorry for Coventry fans and i’m certain they would have loved an owner like ours even though some think he is the anti-Christ. I personally count our blessings Mr Whelan is at the helm.
I’d say that Darlington went down the gurgler even faster & further after building a new stadium. Went bust & the phoenix club is now playing in the same division as Bamber Bridge & play their home games at Bishop Auckland’s ground.
Coventry’s problem from what I can gather is that they didn’t pay towards the funding of the ground at all as it was a council initiative. Any money made from the sale of Highfield Road seems to have gone into their coffers presumably to pay debts etc.. They then have to pay rent to use the stadium (a seemingly fixed amount agreed when they were at a higher level & with the hope of getting back into the top flight) & as their income went down they couldn’t afford to pay that amount & are unable to make any money from the stadium in terms of hiring it out.
Seems to me that they took a short term financial boost (new stadium without having paid & keep the money from highfield road) without thinking of the long term implications
Wasp’s it seems are now buying the ground & honouring the recent deal that got Coventry City back playing there but its Wasps who will be taking in the estimated £21mill a year that the Ricoh generates[/quote]Good points Tilders mon.
To be fair to Cov when they sold Highfield Road the council were originally supposed to fund the whole project as a community stadium, casino and music venue. They then realised they had not the money so outside investors were involved and that’s when the football club found themselves with a huge rent bill. Im sure some of the money from the old ground was usurped into the purchase of the land on which the Ricoh is built. Northampton Town found themselves paying their council half the revenue from games when they moved into Sixfields. Darlo were owned by the villain George Reynolds and were a disaster waiting to happen unfortunately for the good people of Darlington. All which prove my point that we were so lucky to have a stable and brilliant owner and a council who care about its football and rugby clubs. Back to Wasps, they have around 2800 season ticket holders all I imagine from the London area yet have bought a 50 per cent share in a 30000 seater stadium 100 mile away. As mentioned before Coventry, Leicester Tigers and Northampton Saints have the Union fan-base monopolised in the area so it seems to me that any money made out of the stadium will be lost in the running costs of the playing side.
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