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Post by sevcik on Nov 29, 2023 15:35:13 GMT
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Post by kievthegreat on Nov 29, 2023 16:29:49 GMT
Difficult to read much into recent accounts (plus I'm not an accountant). They obviously had several COVID years which complicate things.
It looks like they broke even up to 31st March 2022 and had £4m in the bank. However they have £9m debt due within the year (mostly suppliers and deferred income) which was massively up on the previous year. They also have a lot of "group" debt (£7m) which I asssume to mean is owed to the council. I don't think there will be hoardings going up on the arena today, but I think the council will be unable to help if anything doesn't go well for the arena financially.
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Post by spik on Nov 29, 2023 18:42:01 GMT
Is this another Birmingham? Same fate?
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Post by Suttonian on Nov 29, 2023 19:14:04 GMT
Could this be the reason for the 'arena charges' that make ticket prices so expensive?
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EMB
Randall Weber
Posts: 4,045
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Post by EMB on Nov 30, 2023 13:05:14 GMT
They've been overspending for years, my Mum has abit to do with the council as she runs an action group in the Meadows. Its been going on well before Covid when it all started to come to light most of the people involved resigned or left their posts to save face. same as the fated Robin Hood Energy debacle.
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Post by awooga on Nov 30, 2023 19:55:08 GMT
As far as I can tell from the accounts for Nottingham Ice Centre, which are in the public domain, is that the centre washed its own face for 2022. I expect 2023 will have been better as things recovered from COVID.
Break even performance, but there’s non cash things to add back - eg 750k of depreciation.
Cash balances were around 4m, which would allow them to trade through.
Cant see anything in there that would worry me about it needing to be propped up by the council, so it should hopefully be left alone.
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Post by bobness on Dec 1, 2023 14:43:39 GMT
The arena had to borrow a load from the City in 2021 to keep it afloat as government support was not forthcoming for the venues like the arena during covid. It's done well to keep afloat, being blunt, but is now saddled with that debt (and the interest) that it didn't have before. It's a "not for profit" company, and Sport England has a say in what goes off there. The huge rise in NLW won't have done it many favours as the vast majority of its casual staff are on ZH contracts on NLW. Frankly, your arena needs you.
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Post by Spooks on Dec 2, 2023 14:42:43 GMT
Everything has gone up.
Tory funding to councils goes down, services have to be cut.
What do people expect ?
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iginla
Chick Zamick
Posts: 13,422
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Post by iginla on Dec 2, 2023 16:41:26 GMT
Everything has gone up. Tory funding to councils goes down, services have to be cut. What do people expect ? That arena should fund itself with the amount of concerts, Panthers games and skating,especially with the extortionate prices of food and drink,booking fees and arena facility fee. If it doesn’t then it is being very very badly mismanaged!
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Post by bobness on Dec 2, 2023 22:05:54 GMT
Everything has gone up. Tory funding to councils goes down, services have to be cut. What do people expect ? That arena should fund itself with the amount of concerts, Panthers games and skating,especially with the extortionate prices of food and drink,booking fees and arena facility fee. If it doesn’t then it is being very very badly mismanaged! Sorry, but it’s a long way from that simple.
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Post by Spooks on Dec 3, 2023 15:56:08 GMT
Why ?
Its national centre for Ice sports (not hockey) funding is available for that which should go towards the ice itself.
Concerts or events almost every other week.
It really is that simple, it should totally be able to stand on its own to feet its a cash cow with the OTT booking fees and prices. People would buy more beer etc if it was cheaper as well. Its always been run as a zeaolot factory against ice hockey in general.
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iginla
Chick Zamick
Posts: 13,422
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Post by iginla on Dec 3, 2023 17:06:09 GMT
Why ? Its national centre for Ice sports (not hockey) funding is available for that which should go towards the ice itself. Concerts or events almost every other week. It really is that simple, it should totally be able to stand on its own to feet its a cash cow with the OTT booking fees and prices. People would buy more beer etc if it was cheaper as well. Its always been run as a zeaolot factory against ice hockey in general. Exactly. If Planet Ice can presumably run an ice rink and make money out of a dump like say the Skydome with nowhere near the same level of footfall through it then why can’t the NIC ?
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Post by bobness on Dec 4, 2023 18:18:42 GMT
Why ? Its national centre for Ice sports (not hockey) funding is available for that which should go towards the ice itself. Concerts or events almost every other week. It really is that simple, it should totally be able to stand on its own to feet its a cash cow with the OTT booking fees and prices. People would buy more beer etc if it was cheaper as well. Its always been run as a zeaolot factory against ice hockey in general. They should put you in charge.
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Post by Spooks on Dec 5, 2023 10:29:09 GMT
No, I would bankrupt the place instantly with a even bigger Jumbotron (that again impossible to hang off the roof due to weight....go figure) make it 8K, install some decent camera positions and a dedicated production suite including a Organ
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Post by bobness on Dec 5, 2023 11:18:01 GMT
One hopes the "sponsorship" with the parking arm of the City Council isn't being called into question now? It's definitely not something the Council have to do, so will be under scrutiny.
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shinobi
Randall Weber
Forum Dictator
Posts: 4,728
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Post by shinobi on Dec 5, 2023 14:08:27 GMT
Why ? Its national centre for Ice sports (not hockey) funding is available for that which should go towards the ice itself. Concerts or events almost every other week. It really is that simple, it should totally be able to stand on its own to feet its a cash cow with the OTT booking fees and prices. People would buy more beer etc if it was cheaper as well. Its always been run as a zeaolot factory against ice hockey in general. I can personally say that if the beer was indeed cheaper, I would buy infinitely more!
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iginla
Chick Zamick
Posts: 13,422
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Post by iginla on Dec 5, 2023 16:58:33 GMT
One hopes the "sponsorship" with the parking arm of the City Council isn't being called into question now? It's definitely not something the Council have to do, so will be under scrutiny. And presumably so will the deal the council do with the EIHL regarding POFW funding ?
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Mark
Randall Weber
Experience has taught me that when it really matters the only person you can rely on is yourself.
Posts: 4,616
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Post by Mark on Dec 5, 2023 18:30:39 GMT
Everything has gone up. Tory funding to councils goes down, services have to be cut. What do people expect ? The Labour run council is a shambles. The propping up of Robin Hood Energy with Labour councillors being shareholders, over 50 million pounds "missing." Taking millions from funds supposedly ringfenced for social projects and talk from within the council of financial corruption, particularly during lockdown. Blaming Tory cuts as the only reason is both lazy and disengenuous.
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iginla
Chick Zamick
Posts: 13,422
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Post by iginla on Dec 5, 2023 20:19:28 GMT
Everything has gone up. Tory funding to councils goes down, services have to be cut. What do people expect ? The Labour run council is a shambles. The propping up of Robin Hood Energy with Labour councillors being shareholders, over 50 million pounds "missing." Taking millions from funds supposedly ringfenced for social projects and talk from within the council of financial corruption, particularly during lockdown. Blaming Tory cuts as the only reason is both lazy and disengenuous. Typical Labour council. 🙈
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Post by bobness on Dec 5, 2023 21:23:34 GMT
Everything has gone up. Tory funding to councils goes down, services have to be cut. What do people expect ? The Labour run council is a shambles. The propping up of Robin Hood Energy with Labour councillors being shareholders, over 50 million pounds "missing." Taking millions from funds supposedly ringfenced for social projects and talk from within the council of financial corruption, particularly during lockdown. Blaming Tory cuts as the only reason is both lazy and disengenuous. Which councillors were shareholders in RHE? I thought it was only the Council that held shares? Was 1, then suddenly 7.5million…
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Post by bobness on Dec 5, 2023 21:25:43 GMT
One hopes the "sponsorship" with the parking arm of the City Council isn't being called into question now? It's definitely not something the Council have to do, so will be under scrutiny. And presumably so will the deal the council do with the EIHL regarding POFW funding ? Possible.
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Post by bobness on Dec 6, 2023 9:57:56 GMT
Everything has gone up. Tory funding to councils goes down, services have to be cut. What do people expect ? The Labour run council is a shambles. The propping up of Robin Hood Energy with Labour councillors being shareholders, over 50 million pounds "missing." Taking millions from funds supposedly ringfenced for social projects and talk from within the council of financial corruption, particularly during lockdown. Blaming Tory cuts as the only reason is both lazy and disengenuous. Also, it's not "missing" money. They borrowed the money to prop up the company, lent it to the company, the company went bust and has no net assets, as it lost all that money while trading. No-one has benefitted from this. It's clear where it went. Buy something for £50, sell it for £30, you'll lose a lot of money quite quickly. Have a read of the PIR and the Max Caller report. It's scary stuff.
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Post by The Flying Shirt on Dec 6, 2023 12:19:40 GMT
The Labour run council is a shambles. The propping up of Robin Hood Energy with Labour councillors being shareholders, over 50 million pounds "missing." Taking millions from funds supposedly ringfenced for social projects and talk from within the council of financial corruption, particularly during lockdown. Blaming Tory cuts as the only reason is both lazy and disengenuous. Also, it's not "missing" money. They borrowed the money to prop up the company, lent it to the company, the company went bust and has no net assets, as it lost all that money while trading. No-one has benefitted from this. It's clear where it went. Buy something for £50, sell it for £30, you'll lose a lot of money quite quickly. Have a read of the PIR and the Max Caller report. It's scary stuff. The corruption is only trumped by their incompetence. I can't understand why none of them were arrested.
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