Supporters Trust Forum

[Young_Nudger]

Would love to know this since these owners took over how much they have had to pay out on the financial package of sacking managers.

Well you should have asked them.

[Ponte_Steve24]

Would love to know this since these owners took over how much they have had to pay out on the financial package of sacking managers.

When it's their fault they haven't succeeded in the first place.

[SBRed48]

Just to add. If the owners are putting in 8m equity to cover the shortfall then that means the PMG will have to shell out their pound of flesh. How long can that go on before they say enough is enough. I mean seriously, who the hell wants to be involved in a business that is losing them big money year upon year.

I ask, is there an ulterior motive going on here with this madness? Does Parekh want to use this to get PMG to sell their shares to him?

Perhaps a wild conspiracy theory but possible nevertheless.

The share issues over the past couple of years Have been Share Rights issues Pass, meaning existing Shareholders have the "right" to buy shares in that issue up to the percentage they already own. They have this "right" but it doesn't mean they have to buy the shares. Any shares left can be sold to any shareholder.

PMG have been buying shares up to recently and have put in around £2mill over the last two years but have now stopped buying so their percentage of the club gradually declines. They could, in theory, sit forever on their shares until the club is sold or wound up.

£3million has been taken from these Share Issues and is held ring fenced in BFC Club Accounts. The money is owed to the Crynes for the 2017 purchase of the club and still not paid because Jean Cryne is treating it as a "soft loan" to the club to avoid the Account going negative but she can withdraw all or part of it any time she wishes.

[pass_and_move]

The share issues over the past couple of years Have been Share Rights issues Pass, meaning existing Shareholders have the "right" to buy shares in that issue up to the percentage they already own. They have this "right" but it doesn't mean they have to buy the shares. Any shares left can be sold to any shareholder.

PMG have been buying shares up to recently and have put in around £2mill over the last two years but have now stopped buying so their percentage of the club gradually declines. They could, in theory, sit forever on their shares until the club is sold or wound up.

£3million has been taken from these Share Issues and is held ring fenced in BFC Club Accounts. The money is owed to the Crynes for the 2017 purchase of the club and still not paid because Jean Cryne is treating it as a "soft loan" to the club to avoid the Account going negative but she can withdraw all or part of it any time she wishes.

Thanks SB

[Hemsy_Phil]

Well you should have asked them.

I never got the chance.

[EthelRed]

So if thats the full extent of the news that came from the meeting, it was a non event.

[Young_Nudger]

So if thats the full extent of the news that came from the meeting, it was a non event.

Yes - if you believe that the meeting only revealed that the way forward now looks more uncertain - and recruitment has suffered a massive hit.
Other than that - nowt.

BTW - I’m the person asking the second question relating to recruitment, Collins, Khaled (who seems to have been sacked) and also James Cryne.

[SBRed48]

It's a change to hear an employee of the club, CEO Flatman, actually confirm what financial sh1t the club is in rather than hiding behind platitudes

Expenditure £17 million, Income £9 million, Shortfall £8 million.

Shortfall to be made up by Share Issues and Player Trading. Who is going in January ?

The rest of the meeting was just flim flam.

[animallittle3]

Well first of all no club in league one should cost £17m to run and I'm factoring everything in with that .

What I mean by that is that it's virtually impossible for Burton Albion for instance to have those kind of overheads or even Shrewsbury Town .

Our overheads should be around £10m or £11m with that shortfall made up by player trading when it's possible .

That figure of £17m should be an embarrassment to the ownership and most definitely not something to try and justify as " that's the way football is " because it most certainly isn't .

It's simply not sustainable and to be honest it makes me sick to the stomach that the financial position has come to this .

Whatever the cost is to the league position this cannot be allowed to continue and I'm afraid costs need to be cut to get back to something like reality .

The Academy needs to go for one , it produces next to nothing and just isn't financially viable .

What really alarmed me was the get back to the championship and everything will be ok line .

Are they really that naive ?

Get back to the championship and our costs will be £25m , the championship solves nowt for us .

There was nobody who criticised Patrick Cryne as much as me on this board but it wouldn't have got to this under Patrick , you wouldn't have liked it and I wouldn't either but we'd be run in a far better financially viable way .

Utter madness where we are today given how the club was handed over in 2017 .

Pretty disgusting to be honest .

[Young_Nudger]

Animal - as you will have seen and heard while watching the video of the event (I’m assuming you have before making comment) that each of the incomings and outgoings were highlighted.
Jon Flatman said - to cut costs we would have to cut back on what we see on the field.
And they are not prepared to do that.

I have been saying it for a while now - us fans should be greatly thankful for these owners.
The question is - where does the club go from here?
Neerav has a vision for the club.
The owners have a hand of cards - it’s knowing when to play the right cards.
Example - John Dennis with Henrie and Wilkinson.

I put Neerav on the spot when I asked about recruitment and if James Cryne was still at the club.
When I heard that he wasn’t then I asked if the club was missing him.
It was a very clumsy question to ask.
Of course Neerav is going to deny it because Sormaz, obviously James’s replacement was sat at the side of him.

The money shortfall is a concern.
But recruitment is also a major concern.
It will have been noted that supporters asked about the dip in recruitment.

I predicted that Khaled was probably sacked (because of the Collins appointment) and I’m predicting now that Sormaz won’t be here for long.