Putting our money where our mouth is

Why would there be? At the time it was a deal between two things controlled by the same person. And the only option available

 

Ambition = Vision + Funding + Capability

 

GR had all 4

 

Ha Ha Ha, Shame on you, mind your halo does not choke you

 

Game, set & Match to Mr Gibb.

No, he had the first three and relied on Prof Rhodes for the fourth. Richmond was a "two bob" millionaire who had as much in borrowing as he had in assets, which is why he went bankrupt when he had sold his business, eventually paid (or part paid) the taxman and spent the rest. Last seen selling car stickers from the boot of his Rover estate.

 

The dynamic duo

 

Now it’s “ Throw away”. So why try and explain away the finances of such a move in the first place?

Peddling backwards faster than any trick cyclist working for Billy Smart there Loyal!

 

Fast forward 7 years………….
Assumptions are
1. We’re still in league 2 or lower
2. Season ticket prices are £300 plus
3. Average home attendances are 6k-8k
4. Sponsorship dwindling due to being in basement

Would you sign another lease at VP for 25 years costing us minimum 500k per year or would you assess the feasibility of leaving VP even if that meant ground sharing.?

 

I seem to keep repeating this but who are we groundsharing with?

 

The whole groundsharing thing makes no sense. As with the points you make, what about the revenue lost due to significantly lower crowds, the loss of commercial revenue via merchandise, hospitality and sponsorship? The only remotely plausible option is Odsal and Lawn tried that bluff. We either play at Valley Parade or we find a Russian Oligarch willing to build us a shiny new stadium.

 

Whoever the hell we have to to avoid paying 500k in rent

 

Best thing ever to happen to this club.

 

Leeds. Only fair to player share too.

 

There’s a bit of revisionism there. Richmond sold Ronson for £10m in 1994, probably the same as £20m today. He bought City, paid off the debts and built the Midland Road stand. Ok so it was probably arranged as a loan, but we’d be happy with someone arriving with £20m to buy City today. Sure the Rhodes lent the club money, or used their personal assets are security for loans, but to say Richmond didn’t put his money where is mouth is is probably a touch unfair.
IIRC he went bankrupt when HMRC came after him for the tax due on the sale of Ronson. Whether he was genuinely bankrupt or skint because his assets were registered elsewhere is anyone’s guess.

 

No. Sparks has to generate enough income so that the rent is manageable.

It was once said Elton John spent £300k on flowers in two years. That’s not manageable for anyone here I assume, but if you’re earning £10m a year it’s a piece of cake. As long as Sparks does his job and brings in money, the rent isn’t a problem.

We’re going around in circles. If City want to play in a 25,000 seat stadium they have to pay for it. Rent, debt repayments on a new stadium or to the bank if they buy it themselves, debt repayments or rent to Rupp if he buys it. They have to pay somebody, it doesn’t matter who. The rent isn’t extortionate by league two standards for a relatively modern large stadium.

When you work in a senior position in a business, you realise you have to spend money that by the standards of an individual is eye watering, and that sometimes you don’t want to spend that money, but to keep the business going you have to, there’s no other way. It’s your job to bring more money in to offset that spend, or to find ways to spend less elsewhere. It’s the same with housing, rent, mortgage, you have to live somewhere.

If Bradford City want to stay in business they have to pay money for a stadium to play in. As has been explained many times in many different ways, Valley Parade is the only realistic option.

I’m not sure how many times that needs explaining.

 

Never heard Kiwomya & Raynor mention it.

 

Campion Sports

 

He swapped Scarborough for City, taking on the debt which I believe he guaranteed, but everything else was funded by bank loans (back when we had assets to borrow against).

I believe the Rhodes paid him £3m for 49% of his shares in 1998, then guaranteed loans. Richmond (and Rhodes) then benefited from "management fees" and dividend payments as we sold off and leased back just about everything in the stadium.

I'm not sure there's anything to suggest he did put any of his own money up, he got plenty out of it though.

There's a chapter about it in David Conn's book "The Beautiful Game" sums it up much better than any of our local media ever has.

 

Why are we any different to other clubs who’ve shared. How did they deal with those issues you raise? Too many barriers from people on here and no other suggestions so let’s keep paying half million every year and plod along as we are.
Great!!!