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Financial Results
#1
Operating loss of £668,000 last year:
http://www.espncricinfo.com/ci/content/s...MP=OTC-RSS
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#2
"Three days of the Edgbaston Test between England and West Indies were washed out, as was the Australia ODI in July and Warwickshire's lucrative Friends Life t20 fixture against Worcestershire."

Tell me about it - I had tickets for all of them - plus there was the loss of nearly 50% of the T20 ODI v SA (although to be fair - that was an enjoyable 22 overs). :001_rolleyes:

I'll assume that Povey was correct when he says matches were insured for ticket refunds and other losses..... and from memory on a few occasions sat in the ground drinking from the bars waiting for the next hopeless / hapless umpires inspection. So the big looser from the weather was the loss of the 'cricket feel good' factor and the big hit on the balance sheet was all the other good things that we needed to do to keep the ground fit for purpose (the old pavilion was falling down) and less happily so - the bits and bobs that keep the ICC infrastructure requirements officer happy (nice soft chairs for the press and VIP's) and jump through hoops for the ECB bidding war. :fishing:
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Will the Bear
#3
Not surprising really. There are times when the weather shouldn't be used as an excuse, but in 2012, WCCC did pretty well to attract large numbers of customers only for the rain to intervene again and again.

Not much that the club can do about that bar insure against catastrophe.

As for the ECB 'bidding war', what option does a club have now that there are nine Test Match grounds as opposed to six in my formative years? You're either 'in' or you're 'out' and if you don't bid (e.g. Yorkshire for Ashes 2013 /2015), then you're definitely 'out' with potential multi-million pound revenue days lost.
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#4
The Answer IMHO is not to have a crazy bidding war with nine test venues (at one stage several years ago, I thought they may go for 18). It will lead to a bubble and like all bubbles...... Burst. However our pavilion was falling down, so we did need a new one and a venue that could be used all year round. As for the weather... Tickets are I believe insured..... and on quite a few of the days a lot of the people who (like me) had nothing to do but sit there - wait, drink, eat and spend money. Perhaps I'm being to simplistic ... But this loss was on the cards whether come rain or shine.

However Kim will probably be able to give an expert view.....
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#5
Havent had a real look but seems, like for example, Sussex we are in a situation where a conventional profit is going to be very hard to achieve for a while. The more you spend on developing a ground the more you have to depreciate it - its a fact of life - and at a glance we effectively start each year £1.4 million in the hole because of this.

But depreciation doesnt affect cash so the real key is the EBITDA line - which essentially represents cash generated in a year to pay off debt. It was 775K which was a bit short of the amount we need but pretty good in the circumstances of everything going wrong, as it did.

Comparisons are difficult at the moment but the big increase in hospitality is very encouraging. £5 million from this and sponsorship is double what we were getting from all non cricket income less than 10 years ago.

Its tough and because of major match allocations Id guess the next two years, though easier than 2012, wont be easy either.
but come 2015 with ashes, T20 finals day and, surely, a better economy by then, we should get a real turnaround

Esp with record memberships as we win the CC for the 4th year in a row :thumbup: (you heard it here first).
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Warleybear
#6
Kim - Many thanks for a concise preliminary opinion :thumbup:
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#7
(08-02-2013, 10:19 AM)Kim Wrote: Havent had a real look but seems, like for example, Sussex we are in a situation where a conventional profit is going to be very hard to achieve for a while. The more you spend on developing a ground the more you have to depreciate it - its a fact of life - and at a glance we effectively start each year £1.4 million in the hole because of this.

But depreciation doesnt affect cash so the real key is the EBITDA line - which essentially represents cash generated in a year to pay off debt. It was 775K which was a bit short of the amount we need but pretty good in the circumstances of everything going wrong, as it did.

Comparisons are difficult at the moment but the big increase in hospitality is very encouraging. £5 million from this and sponsorship is double what we were getting from all non cricket income less than 10 years ago.

Its tough and because of major match allocations Id guess the next two years, though easier than 2012, wont be easy either.
[undefined=undefined]but come 2105 with ashes, T20 finals day and, surely, a better economy by then, we should get a real turnaround
[/undefined]
Esp with record memberships as we win the CC for the 4th year in a row :thumbup: (you heard it here first).

I think the Council will want the debt paid off before then :thumbup:
LE - aka John
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#8
:001_wub:
Supporter of the 2014 County Champions
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#9
(08-02-2013, 10:19 AM)Kim Wrote: Havent had a real look but seems, like for example, Sussex we are in a situation where a conventional profit is going to be very hard to achieve for a while. The more you spend on developing a ground the more you have to depreciate it - its a fact of life - and at a glance we effectively start each year £1.4 million in the hole because of this.

But depreciation doesnt affect cash so the real key is the EBITDA line - which essentially represents cash generated in a year to pay off debt. It was 775K which was a bit short of the amount we need but pretty good in the circumstances of everything going wrong, as it did.

Comparisons are difficult at the moment but the big increase in hospitality is very encouraging. £5 million from this and sponsorship is double what we were getting from all non cricket income less than 10 years ago.

Its tough and because of major match allocations Id guess the next two years, though easier than 2012, wont be easy either.
but come 2015 with ashes, T20 finals day and, surely, a better economy by then, we should get a real turnaround

Esp with record memberships as we win the CC for the 4th year in a row :thumbup: (you heard it here first).

You are being optimistic Kim. I thought in two years we would see that but its worse than ever.


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#10
(08-02-2013, 11:12 AM)Leicester Exile Wrote:
(08-02-2013, 10:19 AM)Kim Wrote: Havent had a real look but seems, like for example, Sussex we are in a situation where a conventional profit is going to be very hard to achieve for a while. The more you spend on developing a ground the more you have to depreciate it - its a fact of life - and at a glance we effectively start each year £1.4 million in the hole because of this.

But depreciation doesnt affect cash so the real key is the EBITDA line - which essentially represents cash generated in a year to pay off debt. It was 775K which was a bit short of the amount we need but pretty good in the circumstances of everything going wrong, as it did.

Comparisons are difficult at the moment but the big increase in hospitality is very encouraging. £5 million from this and sponsorship is double what we were getting from all non cricket income less than 10 years ago.

Its tough and because of major match allocations Id guess the next two years, though easier than 2012, wont be easy either.
[undefined=undefined]but come 2105 with ashes, T20 finals day and, surely, a better economy by then, we should get a real turnaround
[/undefined]
Esp with record memberships as we win the CC for the 4th year in a row :thumbup: (you heard it here first).

I think the Council will want the debt paid off before then :thumbup:

The council certainly need the money. with government cuts to local councils Birmingham City Council have to make cuts of 102 million over two years with a loss of 1000 jobs, so cant see them being too sympathtic towards Warwickshire.


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#11
Excellent that my council tax hasn't shot up in the last couple of years like it did during the 2000's when it nearly doubled to an unaffordable amount whilst I got no pay increase and they were being handed out at the council like confetty - some degree of control is required :thumbup: Creating false jobs for a false economy to service the needs and asperations of the do gooders view of what Britain should be like was never a clever idea.

The next big thing is dealing with the cost of gas, electricity and water bills...... and the answer isnt windmills and other do gooding green ideas that lead to fuel poverty. Creat a few jobs....... build a few big Nuclear power stations and dont act like King Canute watching the tide of fuel poverty increase.

I could then get onto the price of rail tickets and the labelling of beef burgers and Lasagne whatever their price to feed corporate greed. :fishing:

Hand out 3 grade A levels to 50% of young people to make them feel good..... send them to University and charge them nearly £ 10K a year plus living expenses..... Education the new industry of the early 21st Century...... handing out meaningless degree's, debts and visa's as its product.

As for Edgbaston..... its a monument to Sunday afternoon worship..... and should be charitably treated as such by the do gooders.

Anyway I digress off thread ....... really looking forward to the new season :fishing:
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#12
Ah, yes, beefburgers etc.
I have a few Findus lasagnes in my freezer. Do you think I should try and sell them on e-Bay or would I just be flogging a dead horse?
(I'll get my coat).
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#13
(08-02-2013, 01:57 PM)Warleybear Wrote: Excellent that my council tax hasn't shot up in the last couple of years like it did during the 2000's when it nearly doubled to an unaffordable amount whilst I got no pay increase and they were being handed out at the council like confetty - some degree of control is required :thumbup: Creating false jobs for a false economy to service the needs and asperations of the do gooders view of what Britain should be like was never a clever idea.

The next big thing is dealing with the cost of gas, electricity and water bills...... and the answer isnt windmills and other do gooding green ideas that lead to fuel poverty. Creat a few jobs....... build a few big Nuclear power stations and dont act like King Canute watching the tide of fuel poverty increase.
I could then get onto the price of rail tickets and the labelling of beef burgers and Lasagne whatever their price to feed corporate greed. :fishing:

Hand out 3 grade A levels to 50% of young people to make them feel good..... send them to University and charge them nearly £ 10K a year plus living expenses..... Education the new industry of the early 21st Century...... handing out meaningless degree's, debts and visa's as its product.

As for Edgbaston..... its a monument to Sunday afternoon worship..... and should be charitably treated as such by the do gooders.

Anyway I digress off thread ....... really looking forward to the new season :fishing:

Nah don't agree. We need to devise a long term strategy that is not only affordable but also protects the enviroment. So renewable energy should be part of our long term plan.


its nothing to do with dogood. We need to invest in more renewable energy because a) The enviroment B) we will eventually run out of petrolium and natural gas and we know what the problem is with nuclear. Would you like Nuclear waste dumped in your back yard?

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#14
Warley tell me when you are standing in a general election - you've got my vote.

One other item - British should be able to catch as much Cod and Haddock as they like to ensure the survival of fish and chip shops throughout the land.
LE - aka John
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Redditchbear
#15
Whilst the environmental do gooder fiddles with windmills, millions will contemplate four figure gas and electricity bills and British business will be handicapped whilst other areas of the world march merrily on. I'm all for recycling.... and a few windmills in the North Sea may help..... but where is the real strategy and investment that will keep bills down and create jobs? Fuel poverty is a terrible thing. How many years are we just going to talk about it? The answer of course isn't creating jobs at the council that double council tax bills and create more poverty. No we need vision and a capacity to create real jobs for people that solve some of these problems........ less talk; hiding behind the environmental fig leaf of sola panels and green loans - more action..... I'd like to be able to afford to heat my house when I am old – and if that includes a few Nuclear power stations as part of the strategy then fair enough. Strong political leadership is needed in this area – leadership that isn’t based on putting bills up again to fund the next green environmental crack pot scheme and passing the problem on to the next generation. Let’s get people back to work, solving this problem in a real way rather than the flower power way that along with the bankers lead us into recession / depression.

Bah - humbug..... totally agree LE....... need those fish chips at the back of the EH stand.

Anyway …. I fear I may have gone slightly off thread? :lol:
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#16
(09-02-2013, 01:00 PM)Warleybear Wrote: Whilst the environmental do gooder fiddles with windmills, millions will contemplate four figure gas and electricity bills and British business will be handicapped whilst other areas of the world march merrily on. I'm all for recycling.... and a few windmills in the North Sea may help..... but where is the real strategy and investment that will keep bills down and create jobs? Fuel poverty is a terrible thing. How many years are we just going to talk about it? The answer of course isn't creating jobs at the council that double council tax bills and create more poverty. No we need vision and a capacity to create real jobs for people that solve some of these problems........ less talk; hiding behind the environmental fig leaf of sola panels and green loans - more action..... I'd like to be able to afford to heat my house when I am old – and if that includes a few Nuclear power stations as part of the strategy then fair enough. Strong political leadership is needed in this area – leadership that isn’t based on putting bills up again to fund the next green environmental crack pot scheme and passing the problem on to the next generation. Let’s get people back to work, solving this problem in a real way rather than the flower power way that along with the bankers lead us into recession / depression.

Bah - humbug..... totally agree LE....... need those fish chips at the back of the EH stand.

Anyway …. I fear I may have gone slightly off thread? :lol:

I can see what you are doing, Warley - trying to ensure that the Worcester ground is totally washed away by global warming and rising river levels.
Watch out, though. It's a dangerous game, a bit like batting against Allan Donald without a box. The river Rea could also rise up and wash away the fish and chip stall.
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Warleybear
#17
Bring on cricket and fish and chips.... Its been a long winter after a poor summer. :)
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#18
You may have swim to the fish and chip shop Warley or buy yourself a rowing boat or canoe :thumbup:

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Warleybear
#19
I am so looking forward to walking into the ground, buying some chips and watching some cricket. I've had enough of winter..... As you can probably tell.
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#20
If the Sir Harry's chip shop is flooded from the River Rea there will be no cricket, indeed most of south Birmingham would be a lake!
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