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Post by interestedridersfan on Aug 7, 2020 17:42:56 GMT
Basketball team Leicester Riders may not be able to survive the coronavirus pandemic without revenue from events and matches, the team's managing director has said.
Russell Levenston said the team had enough money to continue until October, but he is concerned about whether the team will be able to play in the British Basketball League when the season returns.
He said: "The massive thing for us is events in the arena.
"We've taken three years to build up the arena to this point, and the revenue from that goes back into the basketball.
"That is a critical problem we're going to have moving forward."
Russell Levenston
BBCCopyright: BBC
He said the club has been unable to announce its season tickets "because we don't know when the season's going to start".
The managing director says the venue has done work to reduce capacity to between 50-60% to make it Covid-secure.
He said if the next BBL season did not go ahead, he did not know how they would survive without government or council support.
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Post by interestedridersfan on Aug 7, 2020 17:45:24 GMT
Basketball team Leicester Riders may not be able to survive the coronavirus pandemic without revenue from events and matches, the team's managing director has said. Russell Levenston said the team had enough money to continue until October, but he is concerned about whether the team will be able to play in the British Basketball League when the season returns. He said: "The massive thing for us is events in the arena. "We've taken three years to build up the arena to this point, and the revenue from that goes back into the basketball. "That is a critical problem we're going to have moving forward." Russell Levenston BBCCopyright: BBC He said the club has been unable to announce its season tickets "because we don't know when the season's going to start". The managing director says the venue has done work to reduce capacity to between 50-60% to make it Covid-secure. He said if the next BBL season did not go ahead, he did not know how they would survive without government or council support. Support means grants IMO Not sure they will be forthcoming. Loans may be offered but then all you are doing is adding debt to something that is likely to only lose money for the foreseeable future Double whammy for Riders - losing income from supporters is one thing. Losing income from events at the arena makes the arena a huge liability rather than an asset to the club |
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Post by massiveridersfan on Aug 7, 2020 18:07:03 GMT
Been dreading this news.
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Deleted
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Post by Deleted on Aug 7, 2020 20:22:21 GMT
I don't think ypu need to worry too much.
He said mysteriously...
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Post by blueskies99 on Aug 7, 2020 20:37:57 GMT
Crazy times. On the day Russell makes this announcement, the club announce the return of Mo Walker on an extended two year deal.  |
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Post by whatsbevisdead on Aug 7, 2020 21:29:41 GMT
Basketball team Leicester Riders may not be able to survive the coronavirus pandemic without revenue from events and matches, the team's managing director has said. Russell Levenston said the team had enough money to continue until October, but he is concerned about whether the team will be able to play in the British Basketball League when the season returns. He said: "The massive thing for us is events in the arena. "We've taken three years to build up the arena to this point, and the revenue from that goes back into the basketball. "That is a critical problem we're going to have moving forward." Russell Levenston BBCCopyright: BBC He said the club has been unable to announce its season tickets "because we don't know when the season's going to start". The managing director says the venue has done work to reduce capacity to between 50-60% to make it Covid-secure. He said if the next BBL season did not go ahead, he did not know how they would survive without government or council support. Maybe you can dip into that large wallet you tell us so much about and save the club. Time to put your money where your mouth is, or did you spend it all buying a brick at the Newcastle arena just so you could tell us about it every chance you get? |
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Deleted
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Post by Deleted on Aug 8, 2020 6:47:35 GMT
Well?  ? I’ve been saying this for months and was ridiculed greatly for it. By Oct 1, you will see a lot of teams hit the wall here and in Europe. |
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padaceth
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Favourite Team: Newcastle Eagles
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Post by padaceth on Aug 8, 2020 7:30:56 GMT
I have been saying this since the pandemic started. The very thing that is making BBL teams stronger is now quite possibly the millstone around their neck. Even once the season starts are teams going to be able to get enough people in with the social distancing regulations to make it worth their while.
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Post by baldereagle on Aug 8, 2020 8:01:32 GMT
Despite IRF’s brick, everything in this thread applies to the Eagles, as I don’t suppose Covid testing in the ECA car park is going to balance the books. It could also be why there are no Eagles signings yet ?
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Post by interestedridersfan on Aug 8, 2020 8:20:23 GMT
I have been saying this since the pandemic started. The very thing that is making BBL teams stronger is now quite possibly the millstone around their neck. Even once the season starts are teams going to be able to get enough people in with the social distancing regulations to make it worth their while. That applies as much to the events in the arenas if not more so than the basketball More events happen than basketball at Riders arena now. Or at least they used to. Pantomimes are already cancelling for Xmas 50 per cent of theatres are at risk next few months Can't see live entertainment of any substance happening in theatres or arenas happening in 2020 |
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Post by youngrocks on Aug 8, 2020 8:53:56 GMT
Its the one thing scotland is ahead on. A date for live entertainment. Strange place to be. Hopefully its not going to be a bad situation
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Post by notoriousbigz on Aug 8, 2020 9:23:25 GMT
Its the one thing scotland is ahead on. A date for live entertainment. Strange place to be. Hopefully its not going to be a bad situation Sturgeon has dealt with the entire thing far better than the useless toffs in Downing Street though, so its of absolutely no surprise to me. |
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Post by raiders92 on Aug 8, 2020 13:10:51 GMT
But if there struggling could they not just cut back and work with the university to get a few players on uni deals and invest in the youth for a season just to survive then think about building next year!! As I think no matter what line ups players use the fans will come back in there numbers!
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Post by interestedridersfan on Aug 8, 2020 14:29:37 GMT
But if there struggling could they not just cut back and work with the university to get a few players on uni deals and invest in the youth for a season just to survive then think about building next year!! As I think no matter what line ups players use the fans will come back in there numbers! Who pays the arena costs? |
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Post by LTFan on Aug 8, 2020 15:05:04 GMT
But if there struggling could they not just cut back and work with the university to get a few players on uni deals and invest in the youth for a season just to survive then think about building next year!! As I think no matter what line ups players use the fans will come back in there numbers! Who pays the arena costs? Who says such a team would play at the arena? I’m just thinking out load as to how the Riders basketball team could possibly still exist in some form without the arena... Just because the arena goes bust I don’t think the team necessarily has too... Like I said, just thinking out load... |
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Deleted
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Post by Deleted on Aug 8, 2020 15:18:38 GMT
Losing the arena would set them back a decade, if they survived. I still think Russ is preaching worse case scenario in rhe hope of getting some (much needed) help
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Post by interestedridersfan on Aug 8, 2020 15:25:56 GMT
Who pays the arena costs? Who says such a team would play at the arena? I’m just thinking out load as to how the Riders basketball team could possibly still exist in some form without the arena... Just because the arena goes bust I don’t think the team necessarily has too... Like I said, just thinking out load... If the arena goes bust then the club would need an entirely new business and business plan etc I imagine banks would be owed money and other suppliers etc There are rules and penalties in other sports to avoid teams going bust etc and then returning to carry on as normal. Not sure those kinds of rules could or should be applied in circumstances like this Normally involving multiple relegations etc etc The fanbase would remain and would support a new club in a new location. I guess they are used to following Riders to many different venues over the years How awful it would be though if Covid cost the city and BBL this venue and forced a club with such a history of Riders to go bust I'm sure if the BBL does happen - a Leicester team of some sort should be involved Would be very messy though for so many reasons Pretty impossible for anybody to put a rescue plan together for the club and the arena without knowing when cash can start coming into the club again That's the same for so many in the hospitality/sports/leisure/entertainment industries right now |
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Post by Deleted on Aug 8, 2020 15:39:43 GMT
There is no rescue in situations like these as they is no clear pathway to the return of revenues from live events and basketball games.
You guys heard it from me first and now you’re surprised they there will be no basketball until next year and several clubs will go bust on the meantime? C’mon man!!
The next shoe to drop is decline government funding as every sport NGB will have their hands out for rescue funds. This I guess will have a negative impact on grassroots.
Unless serious private money can be found fast, we may be looking at the end of the BBL as we know it and serious challenges for the sport as a whole.
Crazy times!
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Post by interestedridersfan on Aug 8, 2020 16:09:30 GMT
If I was an owner of a BBL Basketball club I would not take on a loan in this situation.
Way too much uncertainty and no guarantee to be able to pay back.
Thats the support the government gave to Rugby League. That rugby league were very grateful to receive. The rugby clubs could take loans as they have TV money they can use to repay the loans. They will still have to seriously adjust their budgets to be able to pay back the loan though
The BBL clubs rely on supporter income and sponsorship (a good amount of sponsorship is not cash but services etc)
The Riders Arena also is vital for a college and Riders Foundation do an awful lot in the community. So the question will be whether the Government will be able to support those with grants etc
Yep a lot of organisations, charities and sports clubs will be asking for support at the same time
Russ has said how long Riders can last without the support. I guess the future of Riders is in the hands of the government.
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Post by isthaturinal on Aug 10, 2020 7:37:11 GMT
Many petty personal attack posts have been deleted,
Let’s get back to the subject please.
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Post by sussexbantam on Aug 10, 2020 8:07:03 GMT
Many petty personal attack posts have been deleted, Let’s get back to the subject please. Please... |
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Post by interestedridersfan on Aug 10, 2020 8:12:40 GMT
Something of huge concern for clubs without their own venues has to be a season starting but then having to stop or finish early
The costs of recruiting players,flying them over, accommodating them etc and then starting a season prone to further lockdowns and worse still a premature end would be way higher for most clubs than just cancelling a season
For clubs like eagles and Riders though with their own venues cancelling a season would likely bankrupt them
But for an indoor sport that needs crowds to pay the bills then cancelling a season has to be an option
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Deleted
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Post by Deleted on Aug 10, 2020 10:45:08 GMT
Something of huge concern for clubs without their own venues has to be a season starting but then having to stop or finish early The costs of recruiting players,flying them over, accommodating them etc and then starting a season prone to further lockdowns and worse still a premature end would be way higher for most clubs than just cancelling a season For clubs like eagles and Riders though with their own venues cancelling a season would likely bankrupt them But for an indoor sport that needs crowds to pay the bills then cancelling a season has to be an option These team will soon realize that cancelling the season is the only option. And they will also realize that when things start up again next year, they will be competing for market share in a totally new environment where every sports team, movie theatre, play etc, will all be marketing for a very limited consumer base. Gonna be interesting. |
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Post by Deleted on Aug 10, 2020 11:41:39 GMT
So why are the government advising that they expect fans to be allowed at games in October?
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Post by Deleted on Aug 10, 2020 12:52:01 GMT
So why are the government advising that they expect fans to be allowed at games in October? Because the government has to at least try to protect the economy! Just like they are giving vouchers to go to eat INSIDE restaurants. All of this is window dressing including Lions playing on 15 Sep, Riders signing players etc. Doing otherwise will just insight panic. Dude, I thought you were smart, guess not. You are really showing your IQ here. |
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