4 minute read
King of the city
discuss his history in business, his drive to succeed and his ambitious plans for the future.
Doug appeared on the latest edition of the Chamber Talks Business podcast, which delved into his humble beginnings, growing up in Lowestoft, Suffolk, with a passion for sports and talents in science and maths.
He studied mathematical engineering at Loughborough University, before landing one of just ten management trainee positions at global company Cargill.
Having been based in the agricultural area of the business as Head of UK Grain and Non Grain Feed Ingredients, it was his interest in trading that pushed him to seek a more lucrative position in the company’s oil trading division in which he gained a number of skills and learnt lessons about risk and reward.
Wanting to utilise his skills further, he and a partner purchased a physical commodity trading business, now named RCMA Group, which at its peak in 2015 it employed between 400 and 500 people in 20 countries and were moving sugar, coffee, cotton and natural rubber around the world.
Not content with the business model, the company later went on to refocus and launch sustainable rapeseed processing firm Yelo Enterprises, based in StratfordUpon-Avon.
Speaking about his decision to buy Coventry City Football Club, Doug said that it was his passion for competitive sport and his knowledge of the trials and tribulations
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CCFC had faced which made him want to offer the club a new chapter.
The deal was highly confidential, with the majority of Doug’s family being unaware of his plans – and once made public it led those who know him to question the scale of the risk he had taken.
He said: “I spent a week mulling it over on my own and then I contacted the owners of the club. We had some discussions and within three weeks we did the deal.
“It was whirlwind. My wife knew, but even my kids didn’t know because it was under wraps.”
He added: “Everybody asked what am I doing. It’s well known that football club ownership, especially in the Premier League, is loss making in a major way, but I’m enjoying it.
“I think it’s an incredible area, I think the fanbase is unbelievable, I think there’s not been money spent there for many years and I think I have the ability, with all my history and the success I’ve had, to invest and try and run it like a proper entity and maybe give a new chapter following a difficult 15 to 20 years for the club.”
Speaking about his vision for the club over the next five years, Doug says he has ambitious plans to sustainably reach the Premier League.
“You’re competing against other clubs who are relegated from the Premier League with a much higher budget, therefore they can theoretically have better players so it becomes trickier.
“That doesn’t totally destroy us, but we need to be knocking on the door every year to hit the play-offs. We need to always be aiming for a top six position and then hoping to get through a play-off window in one of the next five years and get into the Premier League.
“You can’t do that recklessly - it has to be done sustainably and logically, which I’ve made clear with the team.”
The full interview with Doug King can be heard on the Chamber Talks Business podcast, available on streaming platforms Spotify, Amazon Music and Audio Boom. For more information go to www.ccfc.co.uk
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