Meeting with Cormack, Fraser and Wickes

[RED_JOHN]

Given your previous posts and thoughts on dna not sure if your question is genuine but I will bite anyway!! As per my point 10 above they are saying it has basically already been spent maintaining the squad size/cost that we had last season. Not the answer I was hoping for!!

What I would say and probably forgot to emphasise in my original post is that a constant theme through everything that was said especially by Wickes was the need to maximise commercial income so that we can funnel more money to the team. He did say expect to hear more news on commercial deals over the next couple of weeks. Also that our commercial income compares favourably with other similar sized clubs in both Scotland and England

Thanks for the reply. My initial thoughts of the full DNA debacle are certainly coming to light. Milne himself stated that McInnes had a bigger budget which in real terms was reduced during this summers transfer window as our own fans subsidised the matching extra from the previous summer. In other words don’t trust anything Stewart Milne is trying to get you to start putting money into monthly. A disgraceful con that meant he as club leader had an easier time of dealing with budgets due to the DNA members generosity.
Cormack etc I suppose at least expose some of the truths behind the running of our club. I would certainly be extremely disappointed if I had contributed to this DNA fraud.

[kkong]

Cheers for the info Red Zone. Anyone any idea of the life span of these debenture seats??? Were they bought for life? I can't remember.

Hampden debentures are 20 years and were issued in 1998/99, so they must be *very* close to expiring.

In which case all this pish about west & east ends for certain teams could be put to bed - if the will is there.

[kkong]

The gist of it is that he sold his three start ups, the last one being for $800m cash. Currently working on another which will likely bring in $500m in 5 yrs.

That is not quite the whole story.

He was a minor shareholder when the business was sold - he did not receive anything remotely close to $800m.

[DollyLongstaffe]

That is not quite the whole story.

He was a minor shareholder when the business was sold - he did not receive anything remotely close to $800m.

Any idea how minor? Big difference between 49% and 4.9%. Also a big difference between a Chairman whose got, say, 5 mill in the bank and one that's got 500 mill, especially if he's more minded to spend it on the club than Wiggy.

[Bridieeater]

Thanks for the reply. My initial thoughts of the full DNA debacle are certainly coming to light. Milne himself stated that McInnes had a bigger budget which in real terms was reduced during this summers transfer window as our own fans subsidised the matching extra from the previous summer. In other words don’t trust anything Stewart Milne is trying to get you to start putting money into monthly. A disgraceful con that meant he as club leader had an easier time of dealing with budgets due to the DNA members generosity.
Cormack etc I suppose at least expose some of the truths behind the running of our club. I would certainly be extremely disappointed if I had contributed to this DNA fraud.

That does surprise me

[mastrick1960]

Dave Cormack also did a Q&A atKings College on Tuesday. It was more about his business/philanthropy but his first statement was that the seats had been blue and he had asked for them to be red!
The gist of it is that he sold his three start ups, the last one being for $800m cash. Currently working on another which will likely bring in $500m in 5 yrs. He is from Garthdee, his wife Kincorth and he started working at Grampian Regional Council at Woodhill house. Stays with his mother in law when here so that he gets well fed and his washing done. Originally brought up in wee flat with no toilet etc in Spring Garden next to the old ice rink (anybody?)
Lots of donations to charities in South America ( Categena,Columbia) and locally through AFCCT and one wonders as to what else he silently donated to. Very passionate about giving back to the community and is red or dead right through. When he sold his start ups he ensured all his employees benefitted in cash.
I would be hoping that he takes over far Milne in a few years time.....clear that his business acumen is having positive effects from the ground up within the club and can only be good for us....very personable and you get the feeling he doesn't suffer fools gladly!

Ach...ask davie the next time you see him what excuse he gave to his partner when he ‘missed’ his flight home from Gothenburg 😇😇

[Aldo1983]

Spring Garden next the old ice rink.

My old man talks about it every time we are up there. The Germans dropped a bomb on it.

[kkong]

Any idea how minor? Big difference between 49% and 4.9%. Also a big difference between a Chairman whose got, say, 5 mill in the bank and one that's got 500 mill, especially if he's more minded to spend it on the club than Wiggy.

Cormack and the rest of the senior management owned 30% of the company in total between them.

[afc1903mad]

Thanks for the reply. My initial thoughts of the full DNA debacle are certainly coming to light. Milne himself stated that McInnes had a bigger budget which in real terms was reduced during this summers transfer window as our own fans subsidised the matching extra from the previous summer. In other words don’t trust anything Stewart Milne is trying to get you to start putting money into monthly. A disgraceful con that meant he as club leader had an easier time of dealing with budgets due to the DNA members generosity.
Cormack etc I suppose at least expose some of the truths behind the running of our club. I would certainly be extremely disappointed if I had contributed to this DNA fraud.

Clearly, you misunderstand how a budget works.
The club has a budget for the footballing squad. This may be boosted from the basic by player sales.
DNA therefore evidentially has increased the basic budget which appears to have equated as similarly to selling Hayes.

[Aldo1983]

Clearly, you misunderstand how a budget works.
The club has a budget for the footballing squad. This may be boosted from the basic by player sales.
DNA therefore evidentially has increased the basic budget which appears to have equated as similarly to selling Hayes.

Do you think paying for the new stadium will make a difference to the playing budget?