Times Wilder Interview

[I should coco]

Not sure how an opinion on The Guardian’s registration process

It's not the Gruniad. Times aplenty I've told you to always check your facts...

 

[diplomat]

Copthorne run the hotel and are paid for doing so. After a promising opening, it's made losses pretty much every year. See the accounts. It's also been devalued on the bricks and mortar front.

I don't think FFP had anything to do with it. McCabe took the hoteland the equivalent amount of debt with it and funds the losses himself. He didn't "buy it for a pound" This protected the football club.

What makes you think it's not loss making?

I’m not saying it isn’t loss making. I would have thought it’s hard to make a profit from it.

I just remember when it was mooted that it was foolproof as the idea was that Copthorne (or whoever) would pay a fixed fee for running it and then the worry of profit lay at their door not ours.

I may have misunderstood or misremembered. Hence why I’m asking as I regard you as being very clued up on these matters. Asking for info not an argument.

I do have a personal issue with it though as our chairman’s speciality of property development doesn’t seem to have benefited the club when so much has been going on around the ground that I’d like to think we could have knocked up/rented/sold some of the developments and increased football club revenue. Mainly in theory admittedly as I know it’s not always as simple as that.

 

[Sean Thornton]

I’m not saying it isn’t loss making. I would have thought it’s hard to make a profit from it.

I just remember when it was mooted that it was foolproof as the idea was that Copthorne (or whoever) would pay a fixed fee for running it and then the worry of profit lay at their door not ours.

I may have misunderstood or misremembered. Hence why I’m asking as I regard you as being very clued up on these matters. Asking for info not an argument.

I do have a personal issue with it though as our chairman’s speciality of property development doesn’t seem to have benefited the club when so much has been going on around the ground that I’d like to think we could have knocked up/rented/sold some of the developments and increased football club revenue. Mainly in theory admittedly as I know it’s not always as simple as that.

Okay, but you did say "I don't think it's loss making".

As I understand it and reading the accounts Copthorne charge the fee for running it.

The majority hotel debt is to McCabes companies but I can't recall. Anyone suggesting it was foolproof, especially in an industry heavily affected by financial ups and downs.

As a aside, as the hotel loses money,I recall some suggesting bars near the ground to make money, but as we've seen, it's not that simple, look at the closure of the Sentinel for instance. It's highly speculative and specialised. I have no idea about running a business like that but can see the results.

 

[diplomat]

Okay, but you did say "I don't think it's loss making".

I didn’t. But thank you for the response.

 

[KiwiBlabe]

Reading this article makes you love him more. He's a Blade and a man with principles and conviction.

I love him and what he stands up for. My kind of man whether he manages us or not.........though I hope he does for a long time.

 

[Sean Thornton]

I didn’t. But thank you for the response.

"but I don’t think it’s loss making"

Your post #87

 

[diplomat]

"but I don’t think it’s loss making"

Your post #87

Good point well made.