New beginnings - 25% Truth, 80% Bollocks

[DiV]

Yes, a small loss I can understand. That is not what is allegedly happening.

Why can’t you understand a big loss?

I’m not going to pretend to know our finances but it’s not exactly a shock to find out we are losing a lot money. It’s been happening year after year for years

[ChalkyWhiteIsGod]

Hearing we owe Puma money too, hence half priced shirts and no third strip.

Don't know if that's one that has been posted.

[DiV]

I heared Charlie Austin has been told not to score so we don’t have to pay his goal bonus.
As he hadn’t been paid for October he decided to smash 2 in yesterday to feed his family.

[Stef Troll]

Do we even know if Clem is paying himself back out of income or is he waiting for a sale to get his money back?

The club is operating at a loss so it’s unlikely this is the case. The only way he could repay himself would be by not paying other creditors who the club owes money to (ie HMRC, players wages etc).

Ultimately the club is trying to be more self sustainable and budgets have been applied accordingly.

My worrying observation on the statement above is that league 1 teams on average lose more money then league 2 teams. It’s a bit of an odd comment to make and maybe Clem doesn’t think promotion is financially worth it.

[The Artist Formerly Known as Audrey]

If, and when, the open and transparent accounts are made public we can see where the money is going.

[Mooneyraker]

Why can’t you understand a big loss?

I’m not going to pretend to know our finances but it’s not exactly a shock to find out we are losing a lot money. It’s been happening year after year for years

We've just halved the rent, ticket prices are sky high, highest ave attendance in years, shirts selling out etc etc combined with minimal investment in the squad.

Correct me if I'm wrong, we made a small loss in Clem's first year didn't we? Now he is having to pump in £250k to 'stabilise'. It doesn't add up.

[UTR]

Given this:

There have been reports and speculation concerning player payments and HMRC issues which I can confirm have been paid and also paid on time. In the past fortnight, I have injected £250,000 to stabilise the club and I will continue to stabilise the club as and when needed. We still encounter many difficulties due to the years of mismanagement from the prior ownership and these challenges are still painstakingly being worked through and paid for me.

The current club revenue is not sufficient to cover the costs to run the club, with existing deals in place that have been active for years that don’t make us any money and benefit others tremendously.  Anthony Hall our CEO has talked me through this at length and our plan is to focus on new revenue streams for the club, we also need to renegotiate all of our less favourable commercial deals and enhance our offerings to generate additional revenue.

How is he anticipating strengthening the squad in January?

I’m assuming by asking Kiely for some more cash then accidentally selling him the whole club in the process

[Batch]

why do we need 250k in November when cash flow should be at normal levels?

[The Artist Formerly Known as Audrey]

We've just halved the rent, ticket prices are sky high, highest ave attendance in years, shirts selling out etc etc combined with minimal investment in the squad.

Correct me if I'm wrong, we made a small loss in Clem's first year didn't we? Now he is having to pump in £250k to 'stabilise'. It doesn't add up.

Thought we made £150,000 profit last year

[theakston2k]

why do we need 250k in November when cash flow should be at normal levels?

Very early in the season to have cash flow problems, probably just putting back in what he already took out in the first place to pay towards the debenture debt or something.

[DiV]

We've just halved the rent, ticket prices are sky high, highest ave attendance in years, shirts selling out etc etc combined with minimal investment in the squad.

Correct me if I'm wrong, we made a small loss in Clem's first year didn't we? Now he is having to pump in £250k to 'stabilise'. It doesn't add up.

I bet we are still paying Jody Morris

[The Artist Formerly Known as Audrey]

Finished in October. Or so we were told.

[Stef Troll]

Thought we made £150,000 profit last year

That was to May 2022. In that season we played Man City (if we didn’t play them we would have made a small loss).

[The Artist Formerly Known as Audrey]

Is 2023 accounts available yet

[theakston2k]

That was to May 2022. In that season we played Man City (if we didn’t play them we would have made a small loss).

We sold McKirdy, Gladwin, Lindsey, Reed, got Twine sell on…. Should more than match what we got for the Man City game.