you will need to be quick

[Glover]

Brilliant post Gaz , the most sense anyone has talked on any forum for ages.

[Hempstead Gaz]

I'm a little surprised that so few have picked up on this thread.

When Brian Kilcullen makes a posting that probably took 40 minutes to write, it is definately worth a read

[Darter]

I did refer people to it on Not MyFC (www.notmyfc.myfreeforum.org) and so some have read it that way.

[Will's Gimp]

BK's was very interesting

[Stu M]

Originally Posted By: Hempstead Gaz

I'm a little surprised that so few have picked up on this thread.
When Brian Kilcullen makes a posting that probably took 40 minutes to write, it is definately worth a read

Some people prefer the conjecture, rumour, mud-slinging and unsubstantiated threads. Facts tend to spoil a good old rant for those who aren't really informed enough to make accusations (I'm not pointing at Wobbly here, but plenty of others fall into that bracket).

[doheochai]

Originally Posted By: Hempstead Gaz

MYFC can only be a good thing if it remains for the long haul.

Gaz, I think time will show that there is a significant section of the MyFC membership 100% committed to the club and are here for the long haul.

Originally Posted By: Hempstead Gaz

If less than the required 15,000 do not reregister, will MYFC pull out and sell up?

I think there is a bit of confusion about the 'required 15,000' renewals. The 15,000 figure comes into play in two aspects only -
(1) The 'Operator' can withdraw from providing the website as per their service contract. This doesn't mean the 'Operator' will withdraw, but the contract allows the 'Operator' to opt out. This does not mean that MyFC automatically folds - just that it would have to work out a new 'website'/'method of communication'.
(2) If the membership drops below 15,000 it triggers a members vote on whether to sell the club and fold the Society. From what I recall from the T&C's, this requires a 75% vote in favour. Again, I suspect that time will demonstrate that, if the memebrship did drop below 15,000, the vote would be in favour of remaining as owners of EUFC and working to preserve and develop the club.

Originally Posted By: Hempstead Gaz

What then?

Members are already discussing strategies to deal with the current finances and the CEO will present his plan when he returns from holiday in two weeks. One thing, in my opinion, that must be sorted is the current level of expenditure at the club. Excluding MyFC, money the club is spending twice as much as is coming in. This is unsustainable and there needs to be a careful look at reducing expenditure and increasing income so that the club is not totally dependant on donations from MyFC. By MyFC not having to constantly cover ongoing losses, there is the opportunity for MyFC money to be used to develop different aspects of the club for the benefit of the club, the supporters and the local community.

Originally Posted By: Hempstead Gaz

It would be heartbreaking to lose what we have after all the work (and money) invested in our club over the last 2/3 years.

This is true and hopefully we can develop a workable plan that can prevent such a scenario.

[bsmith]

Originally Posted By: BrianK

However, all this talk about the club going bust is [****!!****] to be frank.

I'm a little confused on this matter, if the club is losing the amount of money that has been mentioned on this forum, how is this a maintanable situation? Surely, growing debt inevitably will result in the club going bust?

Very glad to hear the club isn't in dire trouble, if that's what you're saying.

[eufckev]

Barnaby, compare the situation we are in compared to a lot of clubs. Brian's stated that the club has made all it's payments to players, the taxman etc. Quite a majority of clubs can't even do that... and are they saying they're going bust or going to go bust? They're surviving ok, except for the odd few who have had point deducted or have gone down a league or two.

 

Maybe we shouldn't go by what is said on an internet forum, and leave it to the experts.

[Yorkfox]

Gaz, I want you to know that many myfc members are here for the very long term. I have joked with people that if there was a fight in the car park, Myfc v Eufc, Lorraine and I would be on the side of EUFC, so MYFC should be very affraid.

 

The uncertainty of the February renewals is not helping anybody here, but we have to work with it and try to make it work.

 

Everything isnt perfect at EUFC or MYFC, finances need to constantly be looked at and we all agree that the CEO is on the case here. At Myfc, we continue to try and work out how to do things, have some cracking rows and hopefuly move on stronger if we dont kill ourselves in the process.

 

Can I give 2 examples of reasons to be positive this morning.

 

I think most agree that the John Akinde deal was a good one for all concerned. Credit to Liam for a lot of that. Club gets income, John gets a crack at the bigtime, club can get future bonuses and if he comes back to Stonebridge, I know he will be greeted warmly.

 

Secondly, Lorraine and I had the honour to do "board room duty" against Stevenage. Showing that we are not all computer geeks ! :-) One thing that happened was that I asked Greg the sales guy to "use" the members of myfc for the benefit of the club. This lead to me pushing the player sponsorships via the website and the MYFC Daily email newsletter.

 

The result, I get an email from him yesterday saying that all sponsorship of players are now taken. The club gets money, the members feel like they have helped ( they are so desperate to do that ) and we have made something happen. I hope this is just the first of many occasions where we can work together for the benefit of the Fleet.

[doheochai]

Originally Posted By: eufckev

Barnaby, compare the situation we are in compared to a lot of clubs. Brian's stated that the club has made all it's payments to players, the taxing etc. A few clubs can't even do that... and are they saying they're going bust or going to go bust? They're surviving ok, except for the odd few who have had point deducted or have gone down a league or two.

Maybe we shouldn't go by what is said on an internet forum, and leave it to the experts.

With the Akinde transfer money, there is enough money in EUFC and MyFC for the club to survive until the end of the season. A cashflow problem will arise in June/July of next year. The MyFC renewal membership money will have been spent and the club will ahve no income. This is what needs to be addressed and we have nine months to get it sorted.

Part of the problem is that the membership renewal for 28,000 MyFC members falls in February of each year. This is out of step with the clubs financial year and creates a difficulty.

I have made the following suggestions on MyFC -
(1) The next membership renewals period should be for 15 months rather than 12 months (membership fee being

[Hempstead Gaz]

Originally Posted By: doheochai

Originally Posted By: Hempstead Gaz

MYFC can only be a good thing if it remains for the long haul.

Gaz, I think time will show that there is a significant section of the MyFC membership 100% committed to the club and are here for the long haul.

Originally Posted By: Hempstead Gaz

If less than the required 15,000 do not reregister, will MYFC pull out and sell up?

I think there is a bit of confusion about the 'required 15,000' renewals. The 15,000 figure comes into play in two aspects only -
(1) The 'Operator' can withdraw from providing the website as per their service contract. This doesn't mean the 'Operator' will withdraw, but the contract allows the 'Operator' to opt out. This does not mean that MyFC automatically folds - just that it would have to work out a new 'website'/'method of communication'.
(2) If the membership drops below 15,000 it triggers a members vote on whether to sell the club and fold the Society. From what I recall from the T&C's, this requires a 75% vote in favour. Again, I suspect that time will demonstrate that, if the memebrship did drop below 15,000, the vote would be in favour of remaining as owners of EUFC and working to preserve and develop the club.

Originally Posted By: Hempstead Gaz

What then?

Members are already discussing strategies to deal with the current finances and the CEO will present his plan when he returns from holiday in two weeks. One thing, in my opinion, that must be sorted is the current level of expenditure at the club. Excluding MyFC, money the club is spending twice as much as is coming in. This is unsustainable and there needs to be a careful look at reducing expenditure and increasing income so that the club is not totally dependant on donations from MyFC. By MyFC not having to constantly cover ongoing losses, there is the opportunity for MyFC money to be used to develop different aspects of the club for the benefit of the club, the supporters and the local community.

Originally Posted By: Hempstead Gaz

It would be heartbreaking to lose what we have after all the work (and money) invested in our club over the last 2/3 years.

This is true and hopefully we can develop a workable plan that can prevent such a scenario.

Thanks for that clarification, Doh. I'm sure many of us were unsure what would cause MYFC to pull out.

[doheochai]

Originally Posted By: eufckev

Maybe we shouldn't go by what is said on an internet forum, and leave it to the experts.

As you can see from Yorkie and myself above - an internet forum can come up with ideas and can get things done.

[Hempstead Gaz]

Why not make membership on a monthly direct debit of

[doheochai]

Originally Posted By: Hempstead Gaz

Why not make membership on a monthly direct debit of

[BrianK]

Originally Posted By: BrianK

However, all this talk about the club going bust is [****!!****] to be frank.

 

I'm a little confused on this matter, if the club is losing the amount of money that has been mentioned on this forum, how is this a maintanable situation? Surely, growing debt inevitably will result in the club going bust?

 

Very glad to hear the club isn't in dire trouble, if that's what you're saying.

 

---------------------------------------

My reference above was in relation to before the takeover rather than as of now. The current position of the club is for the new owners to comment on.

However, it is clear to all that the recent worst case budget is not sustainable unless membership renewals exceed expectations, there is exceptional income such as a great cup run, new income is generated and/or (hopefully as a last resort) expenses are cut.

It is also clear that the new off the pitch management team realise this and are working hard and quickly to ensure the club remains sustainable.

[Harry J Allstars]

Originally Posted By: BrianK

My reference above was in relation to before the takeover rather than as of now. The current position of the club is for the new owners to comment on.
However, it is clear to all that the recent worst case budget is not sustainable unless membership renewals exceed expectations, there is exceptional income such as a great cup run, new income is generated and/or (hopefully as a last resort) expenses are cut.
It is also clear that the new off the pitch management team realise this and are working hard and quickly to ensure the club remains sustainable.

Thanks for coming on here to share your feelings on things Brian and for giving us a chance to hear the facts for a change.

As for what you say about the situation that you left the club in when you sold it off to MyFC are you saying that the financial situation wasn't as bad as first thought? During last year's dreaded "Due Dilligence" period we were told time and time again that the reason why the club had to be sold to MyFC, an option that was seen by many as the greater of two evils, was becuase of the dire financial situation. Is that now not the case? Also I was told by someone, I won't name names but everyone knows who this person is, that had the club not been sold to MyFC then in January the budget would have been cut and there would have been no way we could carry on our Trophy run to Wembley.

So had the "old directors" remained in power at the club how long would it actually have been before the budget would have been cut and we'd have to give away our best players?

I must say I've been a bit dissapointed by all this. It seems we got told whatever is the best thing to tell us at the time just so that we keep our mouths shut. I'm not saying you're wrong or that you're lying but I feel that what we have been told previously doesn't quite match up with what you've told us.

Happy to talk about this over a beer.

[BustaGut]

Harry that is Business I am afraid. The people that need to know, do know. The rest are like Mushrooms and kept in the dark. To be fair in the main it's the right move. This keeps rumours down,and uninformed opinions to a minimum. I think that as much as we may not always like it, things have been carried out with the clubs interest at heart.

[doheochai]

Originally Posted By: Harry J Allstars

So had the "old directors" remained in power at the club how long would it actually have been before the budget would have been cut and we'd have to give away our best players?

Originally Posted By: BrianK

We recognised for the club to go on to the next level we needed new capital in the club. I worked for some time on trying to find a new owner rather than downgrade the club ambitions. The new owner we found was MyFC. If we hadn't then we would have made cutbacks and the loans converted to shares in the club.

[billy nick]

I've had my set to's with Harry but i must say well done for questioning Brians post. Your the only one to see that it dosn't add up.

 

The way i read it was the club was well run and the debt was managable while the old Directors where in charge. So well run they snapped up MYFC'S offer!

But the talk of the club going bust is bollox?

MYFC take over and plough a significant amount of money into the club yet the club is losing more money than ever.

 

Now how can this be, i just can't understand it. Football fans have always been kept in the dark. But as a member of MYFC we can ask questions, are the right answers coming back?

[Hempstead Gaz]

My real concern was how the club was allowed to increase the budget to a level that is clearly unsustainable without proper 'due diligence', for want of a better expression.