The Board, consultancy fees, Mercs and how to identify a duck

[Iffy's Onion Bhaji]

I think whoever is in charge of the club i'll always be worried now. After all we all thought we were in pretty safe hands under Black but it turned out the opposite. Sure the last lot weren't dodgy like the ones before them but they certainly didn't run the club as well as we'd hoped.

I know a lot of people have their doubts about Jed and Co but they are basing this partly on postings from "Fredi" who clearly has an his/her own motive and quite possibly wants to turn the fans against the board. And yes the budget has been halved and communication has been shite. We always used to operate on a smaller budget. I don't see any differences with this lot to previous owners we have had in the past.

The only thing we won't know is if they are truly dodgy or whether they simply have no financial clout but generally do want to run the club properly. In time we will find out. No point in assuming either way at the moment.

[Arriba]

I don't like this new lot. They stink.
If it meant starting from scratch I'd take it. Clean slate with no ties? Yes please, regardless of what league we play in.

[Fred Elliot]

I don't like this new lot. They stink.
If it meant starting from scratch I'd take it. Clean slate with no ties? Yes please, regardless of what league we play in.

Really ?

Hand on heart ?

Honest Injun ?

[joteddyred]

Playing Devils advocat who do we replace them with then? baring in mind no other fucker wanted to know a couple of months back.

But was that the case?  I thought other parties were interested, but couldn't meet Black's timescales?

[Bukkake Regiment]

I don't like this new lot. They stink.
If it meant starting from scratch I'd take it. Clean slate with no ties? Yes please, regardless of what league we play in.

[LucienSanchez]

But was that the case?  I thought other parties were interested, but couldn't meet Black's timescales?

That's what I thought... wonder if they'd still be interested?

[Batch]

Sure the last lot weren't dodgy like the ones before them but they certainly didn't run the club as well as we'd hoped.

Other than Black having disagreements with the way things were going, I don't think they ran it badly. If he hadn't jumped we'd have been fine. Its the same at most other clubs.

Its a lot different from being badly run.

Maybe one day we'll find a wealthy backer that is willing to back us over a sustained period, but has enough credibility not to set us adrift without care. Lansdown at City type for example.

I know a lot of people have their doubts about Jed and Co but they are basing this partly on postings from "Fredi" who clearly has an his/her own motive and quite possibly wants to turn the fans against the board.

I can only speak for myself but Fredi's revaluations have been no more than an interesting  aside in evaluating the new board.

Not going over it all again but briefly from the day Ritfchie was sold, IMHO not trying too hard to keep Paolo and the subsequent media portrayal, the bad PR, delayed embargo lift, and the rumours of financial struggle from a couple of other sources. The cumulation of that had much much more weight than Fredi.

Jed seem to be talking a good talk recently so hopefully things are improving. Call me Thomas, but I need proof before belief.

[horlock07]

That's what I thought... wonder if they'd still be interested?

This is what I am convinced is going on behind the scenes,  played out something like...

Black wanted sale or administration at end January some interest but obviously all wanted due diligence etc so couldn't meet deadline.  Jed gets wind that debt free club available for nothing,  lots of interest but no one else prepared to take risks without studying books.  It looks like a quick chance to make a few quid (and I wouldn't begrudge him if he did) by taking over,  running on revenue for few months then punting on.

But it appears that all manner of nasties have emerged from the books (1950's debts,  players sigbed up for new contraxts costing wages and expenses more than 4 times the average in this division- oh and no promotion.

It's looking less attractive to new buyers by the day.

[LucienSanchez]

I think you probably have it spot on

[horlock07]

Not going over it all again but briefly from the day Ritfchie was sold.

Wasn't that the Black board anyway after Jeds merry band refused to fund the rest of the season as they didn't have any guarantee that they would be taking over?

[sonicyouth]

Wasn't that the Black board anyway after Jeds merry band refused to fund the rest of the season as they didn't have any guarantee that they would be taking over?

Black stated that he sanctioned the sale, so you're correct.

[herthab]

Although far from perfect, Jed & co seem to get a lot of flack for things that weren't actually their doing. I really wonder if the constant sniping and barracking they recieve could deter future investors. There's little money to be made in football and if you end up taking a load of shit, what's the point?

[sonicyouth]

fredi says...
8:25am Fri 31 May 13

certain documents will find their way to STFC Trust within 48 hours to support what is explained here.

48 hours later...?

[cheltred69]

I'm not convinced by the argument that Jed saw this as a short-term opportunity to make a few bucks.

More likely that he saw it as a chance to play being a football boss at a bargain price, and was totally naive in not foreseeing that there would be difficult financial issues to deal with along the line.  
The main reason he prevailed was that he didn't undertake, in advance, the due diligence that others would have wanted - he took a risk, but I'm not convinced it was a calculated one.

Now that DD can be done by others, there is no real reason, other than the certainty of being in league 1 next season, why a prospective buyer would not go ahead as much as they would have had Black given time for DD to be completed earlier in the year.

[Batch]

I think Jed bought first and worried about it later, and it did stop us going into admin and a fire sale. Which is good and hopefully not just a stay of execution.

But it seems the financial planning was a little lacking. Bitten off more than he can chew? Lets see if he can sort it. As it stands what we have seen is cost reduction (necessary), a director shuffleathon and little to no evidence of investment to cover the transition from where we are now onto sustainability.

Oh, and I'd say the Ritchie sale was as likely to be to to help the new board fund the club in the interim/help black force through the sale . If it was all Black then the new board shouldn't have agreed to PR saying it was a joint decision. Either way its not the point, more that the board have thus far managed to live off ST sales and the Ritchie money, and this is what causes some concern, which I suppose independently does mirror a bit of what Fredi says - but those worries would be there regadless of Fredi.

Anyway roll on July so we get to see the plan. Hopefully that will sort it all (assuming its sound and is executed)