New beginnings - 25% Truth, 80% Bollocks

[ChalkyWhiteIsGod]

In what way? Unless Swindon aren't in the English football league?

Its a cop out moving the goalposts to your original statement. You asked for higher clubs than us and you got them. You never mentioned English.

Tiresome drivel. Just devil advocating the conversation to death like always.

[STFC_Manc]

Its a cop out moving the goalposts to your original statement. You asked for higher clubs than us and you got them. You never mentioned English.

Tiresome drivel. Just devil advocating the conversation to death like always.

Having a different view to you is tiresome drivel? I said higher than league one, which I would say indicates that I meant English football.

[RobertT]

BTW, I would absolutely take us being run like Exeter - we'd have a higher revenue position as a business to start from than they had, so even suggesting fan ownership would temper future ambition, we should expect to be able to outperform Exeter.

Right now, I'd take being a L1 wannabe that has a chance of the play offs - our current, non fan owned model is heading in reverse at L2 level.

Again - I am not suggesting that has to be how we do it.  We could take the German approach of 50+1, or Rangers where fans now own over 10% of the club.

[Dr Pierre Chang]

As I said post Wimbledon, I maintain that there’s still quite a bit of support ‘on the ground’ for the owner. A few attempted chants didn’t get anywhere again today. I can’t see that changing even with a thumping on Boxing Day.

Apathy has well and truly set in - it’s often said there’s never a dull moment following Town, well I strongly disagree - the past season and a half has been as dull as it gets.

[RobertT]

Exeter - https://find-and-update.company-information.service.gov.uk/company/00097808/filing-history/MzM3MTQzNDg3OGFkaXF6a2N4/document?format=pdf&download=0

Yes please - I'd take that, with a bigger fanbase to start from as well.

They are currently in a bit of a relegation scrap, again, something we'd not be immune to, but you'd hope our bigger fanbase gives more opportunity to reach higher.

They make our accounts (the actual numbers) look fucking miserable in comparison.

[ChalkyWhiteIsGod]

Having a different view to you is tiresome drivel? I said higher than league one, which I would say indicates that I meant English football.

You asked a question, you had it answered and you moved the goalposts. Why does it matter if its in English football? Its semantics. They're good examples.

Portsmouth are also a recent success who were fan owned and will be championship soon, but guessing as they sold uo they don't count either.

[ChalkyWhiteIsGod]

BTW, I would absolutely take us being run like Exeter - we'd have a higher revenue position as a business to start from than they had, so even suggesting fan ownership would temper future ambition, we should expect to be able to outperform Exeter.

Right now, I'd take being a L1 wannabe that has a chance of the play offs - our current, non fan owned model is heading in reverse at L2 level.

Again - I am not suggesting that has to be how we do it.  We could take the German approach of 50+1, or Rangers where fans now own over 10% of the club.

Would he a dream from where we are now, wouldn't it?

Not something to be poo-pooed and shot down at all.

[Mooneyraker]

I think fan owned could be a great bridge to a brighter future.

Clean the Augean Stable, even if it takes us to the National League in the meantime.

Then get match fit for a proper buyer.

[ChalkyWhiteIsGod]

As I said post Wimbledon, I maintain that there’s still quite a bit of support ‘on the ground’ for the owner. A few attempted chants didn’t get anywhere again today. I can’t see that changing even with a thumping on Boxing Day.

Apathy has well and truly set in - it’s often said there’s never a dull moment following Town, well I strongly disagree - the past season and a half has been as dull as it gets.

Be more people in the ground boxing day. We'll see if that helps or hinders the chants catching on. I'm up for it.

What were they, out of interest?

I can see boxing day being my last straw game if there is no positive response in the ground to it. That game under Power was Rovers when it was abaonded and he wanted us to pay again.

[Legends Lounge Lovechild]

Wake up hunny! There's a new Trust update. Was emailed so have pasted in below

Financial Review Update


As you may recall, the Trust engaged in a Memorandum of Understanding agreement with Swindon Town Football Club back in August 2021.



At the time, the MOU was circulated nationally via The Football Supporters Association, with praise coming from many areas. It was only the 11th such agreement to be put in place for the 92 English clubs.



At the September 2023 Advisory Board meeting, Trust board members requested to see the Management Accounts of the company as per the following agreed commitment:



"Provide the Trust with quarterly management and financial updates on the financial position and performance of STFC that contain a sufficient level of detail to build trust and an understanding of how the Club is being run, without compromising the Club’s position in a competitive market or revealing confidential information such as undisclosed transfer fees or individuals’ salary details."



The club stated that Management Accounts were not yet being produced and Clem Morfuni then extended the opportunity for the Trust to review the club's financial position.



Scott Curtis, the Trust Treasurer and Management Accountant, attended the County Ground on Wednesday to do this financial review.



As a one-off visit, the aim was to complete a high-level health check and the activity was aimed at providing a broad understanding of the club's financial results. It was not an audit, as it does not carry the same level of detail, time, cost, or legal obligation.



Anthony and Annabela, representatives from the club, spent time discussing and sharing financial ledgers and the costs associated with running Swindon Town. This collaboration marks the first time any supporters group, including the Trust, has been granted access to the club's books, an unusual but commendable step in the footballing world.



The financial review did not encompass personal dealings or transactions of directors in any other legal entity. Examples include transfers of shares not recorded on Companies House or loans between individuals or offshore companies.



Our goals for the review were threefold: understanding current revenues and costs, assessing other cash commitments, and determining funding needs for the next 12 Months.



Scott utilised various financial documents, including trial balances, as of 31st May 22, 31st May 23 and the latest available.  This gave a picture of their trading, a year-on-year comparison and an indication of the operational cashflows over the last 18 months.



It was clear to see that the club is currently financially unsustainable with the club's expenses exacerbated by many high costs over the course of a year, including but not limited to player, management and staff salaries, players nutrition, away game travel and accommodation, agent fees, medical care, legal fees for numerous ongoing cases, property and pitch maintenance, technology, energy, retail, online ticketing, security and policing, administrative and medical costs. The club are actively working to reduce these costs where possible, but some are unavoidable and part and parcel of running a professional football club.



The cash flow forecast for the next 12 months was also provided and this showed when further funds will be required. Scott was able to see movement in loan accounts and the figures confirmed that Clem Morfuni had put significant funds into the club this year to keep the club afloat and is forecasting to do so next.



While Scott was permitted to review the club's financial data, it was done so in-person and with the strict caveat that no information could be copied or taken away. The figures will be shared in detail with supporters early next year when the annual accounts are released, and it was agreed with the club that when the accounts come out, they will be accompanied by an executive summary giving supporters the granular detail they need.



This will take time to put together but ultimately give supporters great insight into the running of the club. In parallel, talks are underway between the Trust, the Club and an organisation called ‘Fair Game’ to create an even more comprehensive annual report, later next year.



These comprehensive reviews take time. We met with Fair Game this week and they told us it would take at least three months and would be done by their team of football finance experts and completely independent. More on this to follow. The club also meet with Fair Game regularly.

Fair Game work with clubs who want to become financially sustainable and who embrace openness with their supporters. In June 2023, Swindon Town became one of only 11 EFL clubs currently signed up to their mission.

Although this initial peek into the club's finances may not have answered all your questions, we believe that a more comprehensive financial review is in the works for next year. This should provide a more thorough and detailed understanding of the club's financial situation.

The Board of TrustSTFC

kickibg
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the
rosd

[STFC_Manc]

I think fan owned could be a great bridge to a brighter future.

Clean the Augean Stable, even if it takes us to the National League in the meantime.

Then get match fit for a proper buyer.

Don't get me wrong, it could be a good move but its totally unrealistic prospect at the moment and it doesn't always work.

[bathford]

I spent this afternoon not only putting up with a dire on-field performance, but more importantly points of view from interested parties and staff members.

Opinions couldn’t have been further apart. A supporter like myself who has lost trust in Clem and his CEO and another who highlighted the good work being done by our CEO to identify and rectify previous seasons problems and yes, nieve attitude on certain issues.

If the latter provided accurate information, and I have no reason to disbelieve them, what has been released is not only true, but easily fixed.

It may take time, but apparently action is being taken to balance the books. There seems to be a lot of internal trust in Mr Hall.

We shall see.

[Quagmire]

kickibg
the
can
down
the
rosd

Everything okay Bamboo?

[ChalkyWhiteIsGod]

There seems to be a lot of internal trust in Mr Hall.

Well certainly no external trust there anymore   

[The Artist Formerly Known as Audrey]

If Clem et al are, indeed, taking money out of the club under the guise of increased, unspecified costs it’s going to come back and bite him in the arse when any new, prospective owner sees that an £8m T/O business makes a loss and by Clem’s own admission is unsustainable. He’ll get offered peanuts for the club.