Fulham Pier -- SW6.doc

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Date Posted: Tuesday, April 21, 10:11:40am
Author: f bloke
Author Host/IP: NoHost / 2.223.121.65
Subject: Fulham Pier

Apologies for opening a new thread. I live close enough to the ground for a walk through the park up to the Fulham Pier to be on the rota of walks we regularly take. The opening up of that river walk is clearly a good thing for the local community and on a nice day there is a fairly decent footfall. The busyness of the food/drink outlets is v dependent on the weather and the day of the week. On a good day, staff are fairly busy but on a quiet day there is a fair number of staff with v little to do. Would be interested to know whether the club is operating a franchise model or are operating/sub-contracting the outlets themselves. Interest payments on the £125m loan will be running at c £9m pa and that is before any capital repayment schedule. Depending on the business model used, there will other operating costs eg staffing costs on top of that. As someone who has had concerns that the Fulham Pier project has the potential to be a real white elephant, there are 2 main financial issues at play. The first is group profitability which is a matter more for the Khans, the second is EPL financial compliance. Al Mac has indicated that Pier revenues will count for SCR but somewhat perversely, as SOS has highlighted, pier operating costs do not. So for SCR purposes it would seem it is pier revenue rather than profitability that is important. That said, I think even the more optimistic revenue forecasts indicate a nice to have additional revenue stream rather than a game changing one that will take us out of the mid table revenue league

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Replies:

Having rarely been there outside a matchday and never since the rebuild, am interested to have your local take. As for 'game-changing', back of envelope guesses always tended to imply it would make a very handy difference once we were relegated, but not move the dial much prior to then. Had not envisaged the loan-repayment burden, however. (NT) -- b+w g., Tuesday, April 21, 12:24:12pm (host86-190-202-215.range86-190.btcentralplus.com/86.190.202.215)
In this age of transparency I think it would be an idea for AM to do a presentation and q&a of accounts - I appreciate might need to be some redactions but a general overview may be helpful to the many Qs we get on here (incidentally I rely a lot on SoS interpretation!) (NT) -- woodman, Tuesday, April 21, 12:43:28pm (NoHost/46.31.84.144)
- I really like this as an idea, but the chances of getting a non handpicked audience to ask the questions is pretty much nil, IMO. (NT) -- Same Old Story, Tuesday, April 21, 01:31:08pm (NoHost/90.241.79.67)
  - 200m+ to build it, 10'sM to to fit it out,10M+ contact for someone else to run it, still paying to rent spce in park. this current model is a money loosr that only works with massive funding (of these losses). Shad pays £1 of every £1 you spend in there As does every CC match goer paying for every New Stand goer. its mental? no other standalone biusness could or would run /survive if not for purpose to give A PL football club SCR advantage. #whiteelephant (NT) -- rejoice Shad built it CC remains FFC home for life, Tuesday, April 21, 01:39:08pm (ns5000058.ip-51-161-87.net/51.161.87.142)
  - Oh the chances of him even considering it are zero but maybe FST/FAB or whoever could ask him to get an answer as to why not? (NT) -- woodman, Tuesday, April 21, 01:46:09pm (NoHost/46.31.84.144)
    - I mean the FAB are handpicked themselves and the FST don't like to be too pushy, so again, not sure we'd actually get a proper answer mate. (NT) -- Same Old Story, Tuesday, April 21, 02:47:28pm (NoHost/90.241.79.67)
      - Is the equivalent of this proposal implemented at any other clubs, I wonder? (NT) -- b+w g., Tuesday, April 21, 03:46:11pm (host86-190-202-215.range86-190.btcentralplus.com/86.190.202.215)

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