Club debt rises to £163.8 million!!!

Reebok Trotter wrote:Interesting stuff Rammy. Thanks for the input. Not boring at all. If I were a betting man then my money would be on Uncle Eddie being the major shareholder in Fildraw.

rammywhite wrote:

Reebok Trotter wrote:Interesting stuff Rammy. Thanks for the input. Not boring at all. If I were a betting man then my money would be on Uncle Eddie being the major shareholder in Fildraw.

I'm 100% certain that he is- but it's  Bermudan private company and getting stuff on it isn't easy

Banks of the Croal wrote:RIGHT, all this debt talk was really making me despair.

So this afternoon, while every fucker else was getting pissed.

I decided to prepare, a plan and a Cunning one at that.

All Nutters, those with the balls to execute this plan (Nat is also welcome) i really hope she will be involved, as she will have a major role to play, if all goes well.

I'm planning to storm The Reebok after the game against Blackpool, take it by surprise, not many people,fans, Police and hopefully Stewards about.

Then install a new Crack Management and Financial Team

Breadman... Chairman.

Natasha ... Manager.

Scott ... Assistant Manager.

Doffy ... Head Coach.

Angry Dad ... Fitness Coach and Head of Security.

Wander ... Public Liaison Manager.

RT... Deputy Public Liaison Manager

Karly ... Press Spokesman.

Magoo ... Catering Manager.

BWFC71 ... Transport Coordinator

Boltonbonce... New Announcer.

Culcheth White ... Head of Ticketing and Media.

Are you all behind me fellow nutters. 

Hipster_Nebula wrote:The club can only be sold if someone wants to buy it (I'm sure i didn't need to say that)

And they will only do that if it's a viable business. And you can see from the "glory days" in the premier league and the UEFA where we lost millions that it's not. I'm sure someone will correct me if I'm wrong. 

You can never put in place an American system into football, way too many teams, far too much variety (europe, asia, south america etc etc) no college/university system, no desire or need from above for a salary cap, will never ever ever happen. And losing is acceptable in the USA there are plenty of franchises that have been absolutely abysmal for many many many years.

Banks of the Croal wrote:RIGHT, all this debt talk was really making me despair.

So this afternoon, while every fucker else was getting pissed.

I decided to prepare, a plan and a Cunning one at that.

All Nutters, those with the balls to execute this plan (Nat is also welcome) i really hope she will be involved, as she will have a major role to play, if all goes well.

I'm planning to storm The Reebok after the game against Blackpool, take it by surprise, not many people,fans, Police and hopefully Stewards about.

Then install a new Crack Management and Financial Team

Breadman... Chairman.

Natasha ... Manager.

Scott ... Assistant Manager.

Doffy ... Head Coach.

Angry Dad ... Fitness Coach and Head of Security.

Wander ... Public Liaison Manager.

RT... Deputy Public Liaison Manager

Karly ... Press Spokesman.

Magoo ... Catering Manager.

BWFC71 ... Transport Coordinator

Boltonbonce... New Announcer.

Culcheth White ... Head of Ticketing and Media.

Are you all behind me fellow nutters. 

Breadman wrote:That's it!

We need a rugby club to share the operating costs with us.

(And obviously Coyle's astute financial management of first team affairs would have helped them too....)

scottjames30 wrote:

Banks of the Croal wrote:RIGHT, all this debt talk was really making me despair.

So this afternoon, while every fucker else was getting pissed.

I decided to prepare, a plan and a Cunning one at that.

All Nutters, those with the balls to execute this plan (Nat is also welcome) i really hope she will be involved, as she will have a major role to play, if all goes well.

I'm planning to storm The Reebok after the game against Blackpool, take it by surprise, not many people,fans, Police and hopefully Stewards about.

Then install a new Crack Management and Financial Team

Breadman... Chairman.

Natasha ... Manager.

Scott ... Assistant Manager.

Doffy ... Head Coach.

Angry Dad ... Fitness Coach and Head of Security.

Wander ... Public Liaison Manager.

RT... Deputy Public Liaison Manager

Karly ... Press Spokesman.

Magoo ... Catering Manager.

BWFC71 ... Transport Coordinator

Boltonbonce... New Announcer.

Culcheth White ... Head of Ticketing and Media.

Are you all behind me fellow nutters. 

When Nat gets the sack in a couple of weeks, does this mean that I get to take over as Manager?

bwfc71 wrote:

scottjames30 wrote:Amos, are you ok ?

I am fine, just ever so miffed pissed off that whenever Sluffy gets a chance he has a sly dig at me or basically tells everyone I am a mental-case, especially when it comes to the speculation of the club's finances.

Thing is, if he had read the full accounts, like I did, then he would have come to the same conclusions as what I and a couple of others had done, but instead slags me off as not knowing what I am talking about, but, at the same time, agrees with the others!!!!

Anyway that was 2013... this is 2014 onwards and upwards bygones and all that!!!!

Breadman wrote:

scottjames30 wrote:

Banks of the Croal wrote:RIGHT, all this debt talk was really making me despair.

So this afternoon, while every fucker else was getting pissed.

I decided to prepare, a plan and a Cunning one at that.

All Nutters, those with the balls to execute this plan (Nat is also welcome) i really hope she will be involved, as she will have a major role to play, if all goes well.

I'm planning to storm The Reebok after the game against Blackpool, take it by surprise, not many people,fans, Police and hopefully Stewards about.

Then install a new Crack Management and Financial Team

Breadman... Chairman.

Natasha ... Manager.

Scott ... Assistant Manager.

Doffy ... Head Coach.

Angry Dad ... Fitness Coach and Head of Security.

Wander ... Public Liaison Manager.

RT... Deputy Public Liaison Manager

Karly ... Press Spokesman.

Magoo ... Catering Manager.

BWFC71 ... Transport Coordinator

Boltonbonce... New Announcer.

Culcheth White ... Head of Ticketing and Media.

Are you all behind me fellow nutters. 

When Nat gets the sack in a couple of weeks, does this mean that I get to take over as Manager?

Yes.

If I'm being Chairman (cheers, Banksy), I'll give Whittam a month and about £500k to turn it round, then when she blows it all on Nugent and shoes, I'll sack her and you can take over.

You can even have a painted space with your name on in the car park for the caravan.

Banks of the Croal wrote:

Breadman... Chairman.

Natasha ... Manager.

Scott ... Assistant Manager.

Doffy ... Head Coach.

Angry Dad ... Fitness Coach and Head of Security.

Wander ... Public Liaison Manager.

RT... Deputy Public Liaison Manager

Karly ... Press Spokesman.

Magoo ... Catering Manager.

BWFC71 ... Transport Coordinator

Boltonbonce... New Announcer.

Culcheth White ... Head of Ticketing and Media.

wanderlust wrote:The club have just bought a hotel and a sports fitness company. Surely we need room cleaners, waiters, kitchen staff and personal trainers as an urgent priority seeing as the footballing side of the business is now just a relatively small department in the scheme of things?

Happy to put myself forward as Maitre D instead of PR....

rammywhite wrote:This is going to be long and boring to some- but its about the clubs latest Accounts. I've been through them this morning with a fine tooth comb - and there are a lot of interesting things in there. Forgive me if this is a bit technical- but I'll make it as easy as I can.
 I'll give you just a few:

1) It cost us £2.3 m to get rid of Coyle and his mates

2) It has cost us £2.7 m in wages to loan some of our players out 

3 As regards whether we'll continue- the best evidence for me is that the auditor (Deloitte) makes no reference to any going concern issues at all in their auditors Report. They gave a clean report. Deloitte are no mugs (I worked for one of their competitors KPMG for years) - and they will have looked at this very carefully as its so easy to get sued if they get it wrong.

4) However the Directors go on at great length about the business as a 'going concern' in three places in the Accounts. They are clearly concerned and have drawn up serious looking contingency plans if we hit the cash flow skids

5)Gartside has seen his remuneration fall from over £800k to just over £400k. He's sharing our pain!!

6)There has to be a real issue about the FFP rules. A few years ago Portsmouth tried it on by separating loans between the football club and their holding company and the FA would have none of it. Look where they are now. Gartsides main tactic would be securitisation of season ticket sales- selling future receipts that we pay (probably for the next 5 years) to a finance company- and recognising much of the income now. Highly suspicious- Glasgow Rangers tried it- and look how much good it did them

7) Ownership of the club is really murky ( as BWFC71 correctly points out). Note 33 says its 95% owned by Fildraw- a Bermudan company. I've tried this morning to get data on them and failed- but I'll keep on trying.
However the loans are made by Moonshift which Eddy clearly owns ( with a beneficial interest- so there's something murky there). But Gartside says in the Directors Report that Eddy is the 'principal' shareholder in Burnden Leisure!!
I smell a rat here and I think we might still be in trouble. The accounts state that all plans are based on promotion in 13/14- so this season has already been written off  by the Board.

I could go on with about 20 more significant points from the accounts but I suspect you're bored already.

But, talking professionally, there are a lot of things in the Accounts which are hair raising.
Unlike what happens on the pitch.
Lecture over- but I for one have concerns about the future