Executive Boxes

[hamlet]

32 minutes ago, Albanian Buddy said:

The academy refurb was due to cost around £80K iirc. Those costs have far exceeded that original estimation. 

 

Can you explain what were the additional costs and and by how much. From memory this rectangular box was built prior to to the huge hike In cost of matetials. Did the council add costs due to the disregard for planning permission? 

[Callum Gilhooley]

37 minutes ago, Cookie Monster said:

1 hour ago, Albanian Buddy said:

The academy refurb was due to cost around £80K iirc. Those costs have far exceeded that original estimation. 
 

That was also down to the enlarged facilities the club eventually got.

& The massive increases in raw materials costs 🙁

[Albanian Buddy]

1 hour ago, Cookie Monster said:

1 hour ago, Albanian Buddy said:

The academy refurb was due to cost around £80K iirc. Those costs have far exceeded that original estimation. 
 

That was also down to the enlarged facilities the club eventually got.

Quadrupled costs though?

Must be quite something!

[hamlet]

41 minutes ago, Callum Gilhooley said:

& The massive increases in raw materials costs 🙁

Building condidered/commenced in November 2021 prior to the massive increases in material costs, as I said.

[faraway saint]

19 minutes ago, hamlet said:

Building condidered/commenced in November 2021 prior to the massive increases in material costs, as I said.

I  can't say about building materials in general but the cost of wood went through the roof early/mid 2022.

[Albanian Buddy]

18 minutes ago, hamlet said:

Building condidered/commenced in November 2021 prior to the massive increases in material costs, as I said.

Are you referring to the academy refurbish?
That started during the early part of lockdown. 

It would seem that there are people ITK about the academy refurbishment costs.

One of the reasons put forward by other ITK people is that “many academy staff have been released from employment due to spiralling costs with the refurbishment”

Others ITK have said “There are young players leaving our club as coaching staff have been forced out.”

The first time the club publicly announced the new “executive boxes” was July 2022 as per the OP.

A commercial organisation would always factor some “fat” to cater for an increase in building costs (or work to fixed price margins) but a 100% increase for the “executive boxes” or in reality converted shipping containers seems a bit excessive especially as I’ve seen costs of those items reduced in price today. 

It is more likely that whoever at the club did the costings for the “executive boxes” dropped a ball in terms of the total cost of ownership to factor in additional costs to run, maintain, etc. 

As for the “alleged quadrupling” costs for the refurbishment of the academy then perhaps the annual accounts and forthcoming AGM will shed some truth behind that.

The refurbishment of the Academy only finished this season despite it starting not long after March 2020 when the club used the shutdown opportunity to move the players training to the stadium.

Even when the supporters got back into the stadium the players were still using it to train on gym equipment and changing facilities. 

I am so far from being “ITK”. 

It’s better not to proceed with a vanity project if it doesn’t make a profit but the redundancies of coaches from our academy is a worry moving forward. 

But then again. Maybe the Academy is a vanity project. What’s the point in having it when our manager signs 25 year old strikers who have only scored twice in 7 seasons as a professional footballer?

 

[Jocky]

On 7/11/2022 at 6:22 PM, Jocky said:

I have to wonder if this has been fully thought through

...........and the answer would appear to be no

[waldorf34]

19 hours ago, Albanian Buddy said:

Are you referring to the academy refurbish?
That started during the early part of lockdown. 

It would seem that there are people ITK about the academy refurbishment costs.

One of the reasons put forward by other ITK people is that “many academy staff have been released from employment due to spiralling costs with the refurbishment”

Others ITK have said “There are young players leaving our club as coaching staff have been forced out.”

The first time the club publicly announced the new “executive boxes” was July 2022 as per the OP.

A commercial organisation would always factor some “fat” to cater for an increase in building costs (or work to fixed price margins) but a 100% increase for the “executive boxes” or in reality converted shipping containers seems a bit excessive especially as I’ve seen costs of those items reduced in price today. 

It is more likely that whoever at the club did the costings for the “executive boxes” dropped a ball in terms of the total cost of ownership to factor in additional costs to run, maintain, etc. 

As for the “alleged quadrupling” costs for the refurbishment of the academy then perhaps the annual accounts and forthcoming AGM will shed some truth behind that.

The refurbishment of the Academy only finished this season despite it starting not long after March 2020 when the club used the shutdown opportunity to move the players training to the stadium.

Even when the supporters got back into the stadium the players were still using it to train on gym equipment and changing facilities. 

I am so far from being “ITK”. 

It’s better not to proceed with a vanity project if it doesn’t make a profit but the redundancies of coaches from our academy is a worry moving forward. 

But then again. Maybe the Academy is a vanity project. What’s the point in having it when our manager signs 25 year old strikers who have only scored twice in 7 seasons as a professional footballer?

 

Someone  who has only scored 2 goals in 7 seasons should not be called a striker by any standards!

[Slarti]

14 minutes ago, waldorf34 said:

Someone  who has only scored 2 goals in 7 seasons should not be called a striker by any standards!

What if they are skinny with red hair and therefore resemble a matchstick?

[buddiecat]

Executive boxes, poorly costed, poorly planned and hideous to look at. The board member in charge of the project resigned before this story about shelving the idea was published.

[Jocky]

I suspect the increased costs will also probably relate to all the things that would have been required through more detailed design and weren't necessarily shown on the outline drawings. These could have been significant.

I noticed that Killie have installed what looks like executive boxes at the back of the stand opposite the one we were in. Those looked like a much more cost effective and practical solution than what we were proposing. Killie's boxes would probably have utilised things like existing accesses/escapes, shared toilets, no foundations , no drainage , existing roof etc. Something similar could perhaps be done at the Family Stand with the loss of some seats to the rear half over part of the stand's width??

[eastlandssaint]

Kilmarnock's Rugby Park revamp blueprints approved by council planners - Daily Record

[beyond our ken]

I thought we were looking at office space and extended hospitality in the corners several years ago.  Theproximity to the airport being the big incentive.  The airport needs a bit of visible and tangible carbon offsetting and a solar hub,  geo-thermal heating hub and EV charging point for airport vehicles would be attractive to them.

[Albanian Buddy]

Just now, beyond our ken said:

I thought we were looking at office space and extended hospitality in the corners several years ago.  Theproximity to the airport being the big incentive.  The airport needs a bit of visible and tangible carbon offsetting and a solar hub,  geo-thermal heating hub and EV charging point for airport vehicles would be attractive to them.

There are so many formal managed office locations around the airport that this is not a viable option for our club. 

There are relatively new office locations at Marchfield Drive just by the airport. 

In addition the managed office facilities at Business First at the Linwood-A737 roundabout are outstanding with different levels of service plus the ability to utilise other BF facilities elsewhere in the UK.

https://businessfirst.co.uk/office-suites/glasgow-offices

 

[Cookie Monster]

Recently, the club has been exploring several new commercial opportunities. One opportunity which the club have decided to progress is the introduction of 3 new executive boxes on the site of the current media room in the main stand and incorporating a small area of the 1877 Club space. As part of the works, the media room will be relocated to the Main Stand Southeast concourse.

Each box will have a capacity of 10 persons, and in addition to being used on match-days it is hoped that these new facilities will bring a range of other opportunities going forward such as use by local companies during the week.

The club believes that the introduction of these Executive Boxes will bring a good return on investment going forward as we aim to maximise revenue across all areas. This is essential to the long-term sustainability of the club.

The SMiSA Board recognise the importance of developing new revenue streams, and fully support the club in this development. We believe the introduction of these Executive Boxes will be mutually beneficial to both SMiSA, its members and the club as a whole.

As such, we would like to offer the club a loan to cover the cost of construction. This would allow the club to spread the cost of the works over a number of years, enabling further investment in developing other areas of the Club. The loan would of course be interest-free, providing better terms than any bank.

SMiSA's proposal would be an £80,000 loan, re-paid over a period of 4 years. Repayment arrangements are outlined below:

2024/25 season - £20,000 repayment
2025/26 season - £20,000 repayment
2026/27 season - £20,000 repayment
2027/28 season - £20,000 repayment

We have also agreed with the club that there would be a clause added for immediate repayment, should certain terms be triggered.

We would therefore ask all SMiSA members to vote on the above loan proposal. You can do so by clicking on the below link. Voting closes at 6pm on Thursday 12th October.


Your participation is greatly appreciated.

Best Regards,

The SMiSA Board

[Cookie Monster]

I estimated and since had it corroborated by someone that is more financially knowledgeable than myself, that the interest lost by SMISA over the 4 years to be approx *£2000, a small amount for an investment that will be recouped many times over by our club. 🫰

*Remember, interest rates can go up or down. [emoji6]

[bazil85]

1 hour ago, Cookie Monster said:

I estimated and since had it corroborated by someone that is more financially knowledgeable than myself, that the interest lost by SMISA over the 4 years to be approx *£2000, a small amount for an investment that will be recouped many times over by our club. 🫰

*Remember, interest rates can go up or down.

It could (and should) be far more than that but I agree with your overall premise. 
 

Screenshot is for a an instant access account (rounded down) going now. If they put it in a 4 year fixed rate bond, at current fixed rates it would probably be more. 
 

 

Edited October 7, 2023 by bazil85

[W6er]

SMISA exists to ensure the future of the club, at least that's why I pay my fee. If these boxes will bring in revenue then I am 100% for us aiding the club financially.

Has anybody actually seen the plans?

[Cookie Monster]

It could (and should) be far more than that but I agree with your overall premise. 
 
Screenshot is for a an instant access account (rounded down) going now. If they put it in a 4 year fixed rate bond, at current fixed rates it would probably be more. 
 
 

Did you take into account the repayments?

[Cookie Monster]

SMISA exists to ensure the future of the club, at least that's why I pay my fee. If these boxes will bring in revenue then I am 100% for us aiding the club financially.
Has anybody actually seen the plans?

Yes

[Albanian Buddy]

4 hours ago, W6er said:

Has anybody actually seen the plans?

I’m sure I saw a recent mail describing the design and the companies involved in the fit out. 
I had a quick search of my mails but may have deleted it. Or maybe I just imagined it. 

Fcuk knows. One thing I do know is I’m not likely to ever use them. 
I know it is all part of the modern commercial revenue stream but I fcuking hate corporate hospitality. 

One thing I hate is these digital advertising boards. I’ve a feeling it might piss me off from the West stand when they go live. 

Modern fitba sucks. Boo!

[HSS]

36 minutes ago, Albanian Buddy said:

One thing I hate is these digital advertising boards. I’ve a feeling it might piss me off from the West stand when they go live. 

 

I was delighted when I heard the only digital board will be in front of the main stand 

I swear I got travel sickness from that train going round Easter Rd a couple of weeks ago 🚂🚃🚃🚃🚃🚃🚃🚃🚃🚃

[W6er]

1 hour ago, Albanian Buddy said:

I’m sure I saw a recent mail describing the design and the companies involved in the fit out. 
I had a quick search of my mails but may have deleted it. Or maybe I just imagined it. 

Fcuk knows. One thing I do know is I’m not likely to ever use them. 
I know it is all part of the modern commercial revenue stream but I fcuking hate corporate hospitality. 

One thing I hate is these digital advertising boards. I’ve a feeling it might piss me off from the West stand when they go live. 

Modern fitba sucks. Boo!

 

That's it, though, we need to compete financially and that means milking every potential source of revenue. 

I don't like the overly commercial aspect of modern football, either. That's why I have next to zero interest in the English Premier League. But in terms of revenue and the match day experience, I think the club should aim to cater for the widest range of supporters - from executive boxes and padded seats, to standing areas. 

Does anyone know if we've looked into a standing area, btw?

[Albanian Buddy]

42 minutes ago, HSS said:

I was delighted when I heard the only digital board will be in front of the main stand 

I swear I got travel sickness from that train going round Easter Rd a couple of weeks ago 🚂🚃🚃🚃🚃🚃🚃🚃🚃🚃

Could I ask you to unplug the fcukers tomorrow (and every other home game) please?

I’m going to have to deploy my hacking skills and interrupt the system with messages like:

FTOF

FCUK VAR

FCUK the SFA/Nick Walsh, /John Beaton/Wullie Collum/Douglas Ross, etc

FCUK the Ton

FCUK H******Y

 

[bazil85]

14 hours ago, Cookie Monster said:

20 hours ago, bazil85 said:

It could (and should) be far more than that but I agree with your overall premise. 
 
Screenshot is for a an instant access account (rounded down) going now. If they put it in a 4 year fixed rate bond, at current fixed rates it would probably be more. 
 
 

Did you take into account the repayments?

Nope, it’s just a rough estimate but the interest calculation you & your pal have came up with are miles off on current rates.
 

Even the first year interest at decent rates should be more than £2k. Reasonable to get a FRB/ savings account for around the 5% mark & that’s over £4K (before tax) alone.