Budget going forward?

[allan73]

Sorry but I am getting more and more concerned about our clubs financial stability. Seems we are missing payments due to Les Hutchinson. But we continue to recruit players. Ok although just loans surely clubs like Reading and Man U want some sort of payment for the use of their players. As far as I can make out we as a club are still over spending and the well society want us to stump up even more money to pay off the Les Hutchinson loan/debt. My question is really just what is the end game in all of this? What is our hope of actually ever making a profit and paying back our debt? As far as I can make out almost all the money raised from the well society recruitment has been spent on loans to the club. Will we ever see that money back again. I really do want to contributed more to the well society but something is not sitting well with me and I am now starting to look for some answers before putting another penny in.

[BC_Canada]

[BC_Canada]

I agree with you, where are the funds coming from to finance this given Daily Mail (and BBC Sport) is reporting we missed our first payment to Les Hutchison and the board chairman 'Brian McCafferty is optimistic that the Well fans will be able to but out Hutchison's majority shareholding' I am bemused by that comment, if we can't meet our current obligation how can we buy out Mr Hutchson?? Hmmm

[wellin]

We seem to have a bigger pool of player's this season, so presumably the wage bill will be higher. It was reported we were struggling before Hutchison took the club over with administration a possibility and I don't think the well society is the answer. We don't have a big enough fan base to raise the kind of money that's needed to run a football club. I don't know the best way to go but if we stick to the well society plan we could well be a part time club a few years down the line.

[WoodyG]

The situation is certainly complicated as the above confusion highlights and is not helped when the first we get to hear of the failure to meet a key loan repayment date is via the Daily Mail!

Les Hutchison has obviously been key to stabilising the club by injecting much needed finance (what on earth were Dempster & Co doing?) whilst apparently retaining a commitment to fan ownership.

He has also "professionalised" the club in other departments such as marketing, Well Society etc ( again what was Dempster doing that made us underperform so badly?)

But I do have a concern that he's milking an empty horse with this ultimatum which says he's not gifting the club money and nor does he wish to own a football club. We don't have a big fan base and that much was clear when he got involved - so exactly where was the money to come from?

He saw the books - we were apparently almost really skint but he got involved anyway as some kind of Thatcherite Philanthropist - here's a hand up