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Unfortunately I cannot make it tomorrow I just hope that the events of this week and past year do not take up all the discussion but also questions are asked about the club being split into different companies and why? Also how many interest free loans are there at the moment and how much and when will they be paid back?
Good questions. Still on the lookout for a ticket for the fans' forum tonight if I could buy one off anyone?
Any questions relating to the recent court case and possible compensation were quickly closed down by John Bowler who re stated that the club had made a statement and that was all they had to say on the matter. Reading between the lines I feel it is the insurance company telling them to say nothing as they are the ones who will pick up any compensation matters. The interesting thing for me was John Bowler stating how this was a community club and it was owned by the community, Questions then started to be asked re the owner Norman Hassall and his role at the club . It was quite obvious from the comments from board members that they do not like him and want rid of him but are powerless to do anything about it as he is the owner. It also emerged as well as taking a large amount out of the club he is drip by drip removing monies from the club and not repaying it as he owns the club , Questions were also asked about the companies Hassall has set up and Bowler confirmed that the board had little choice in this at the time as the assets could have been sold to overseas investors but the 3 companies are a legal way to protect the club in the event of financial ruin. It was also stated early on that board members themselves had invested money into the club this season so in my opinion there must be a financial issue at the club for this to happen. Reaseheath training ground has 10 years left on the lease and HS2 will not impact on the club and there has been no indication of this happening. Fans also mentioned pricing for the remaining games and for the need in a reduction in ticket prices to get more support for the first team . John Bowler stated he heard the views but I doubt the commercial department will do any thing. John Bowler also stated that there was a review on all aspects of the running of the club from the board downwards including the academy. There were numerous questions put to DA and KL re football issues but I feel the above was the interesting bits.
Thanks for that report JD..Quote:
Originally Posted by jamesdad
I think someone has already said any Insurance Company would not be liable for compensation on abuse grounds. That sounds reasonable but not absolutely certain.
The fact that Directors have put money in this season suggests they have run out of the transfer kitty money now or loans are still outstanding that may never be paid back. That suggests the club needs transfer income of at least £760K per season just to break even and the fact that the lease runs out at RH shortly squares with a complete review they are having and difficult to see the model and academy continuing on the same basis and will depend on conditions and monies required for a new lease in addition to all that. ie Unless a few million is coming their way it must result in the academy status changing and even the training facility too. Back to Shavington maybe? I think the review should have taken place well before now but it's obviously being forced on them now as the Directors will want their money back.
Why would selling the club to overseas investors be worse than NH having control? ManC are owned by the Arabs as is half of London and so maybe that would have been better and enabled some investment to come in? Reducing ticket prices is never on their agenda but if we had been going down the whole lot would have had to go and ticket prices halved and so again short sighted Board policy when getting results on the pitch was more important even if that meant halving the prices each home game until we are safe. Its sad they really haven't a clue where commercial nous is the key to success. I wonder how much money the Directors have put in?
Just to say the rest of the Board didn't have to accept NH taking money out of the club which may even be illegal as the Blackpool Chairman was found to be and could have all resigned en bloc and what would Norman have done then?
Have they made plans for non league next season as part of their review?