New beginnings - 25% Truth, 80% Bollocks

[ThreeDrawsMentality]

Did we ever see a short to long term plan from the club?

They did communicate one to a degree, but it was in a corporate pack for sponsorship rather than communicated directly to fans. Sure it was distributed in the summer.

[STFC_Manc]

Clem has been an investor for years.  He specifically had eyes on the stadium development and building links in Australia before becoming owner.

The sale of the ground was agreed a year ago.

The Academy investment has had nothing publicly shared other than the Scaffolding and some shooting nets, which have been delayed for months.  Both of which are being "gifted" in return for sponsorship.

Sorry, but over two years since taking ownership of a club you were already a significant investor in, and nothing of note being produced is pretty poor.  I'm not talking on the field and I'm not talking about the fact someone had a lot of bills to pay.  It does not take over two years to develop comprehensive strategic plans.  If it does, you end up fighting operational and tactical wildfires, just like they are.  Some CEO's get less time than that in total, let alone to build out a plan.

Yeah you are right, nothing has been achieved.

1) Purchased the stadium with the supporters
2) Paid off £6-7m of debt
3) Rebuilt the staffing of the club (although we are still thin on the ground)
4) The womens team is now within the club and being supported
5) Investment in the stadium to fix issues that had been neglected for years

Now I'm sure the club could have achieved more but I think you have to be realistic, Clem doesn't have money to throw about and things take longer because of that.

[Bennett]

They did communicate one to a degree, but it was in a corporate pack for sponsorship rather than communicated directly to fans. Sure it was distributed in the summer.

Thanks!
It's in the April 23 AB notes https://www.swindontownfc.co.uk/siteassets/2022-23/documents/advisory-board-april-2023.pdf

[Bennett]

2) Paid off £6-7m of debt

Correction - converted debt to an interest free loan payable to Clem

[The Artist Formerly Known as Audrey]

Yeah you are right, nothing has been achieved.

1) Purchased the stadium with the supporters
2) Paid off £6-7m of debt
3) Rebuilt the staffing of the club (although we are still thin on the ground)
4) The womens team is now within the club and being supported
5) Investment in the stadium to fix issues that had been neglected for years

Now I'm sure the club could have achieved more but I think you have to be realistic, Clem doesn't have money to throw about and things take longer because of that.

Well, paying off that amount of debt isn’t really true. It’s only been shifted around. The club now owe Clem.

[Bennett]

Well, paying off that amount of debt isn’t really true. It’s only been shifted around. The club now owe Clem.

did we just become best friends?

[RobertT]

https://www.swindontownfc.co.uk/siteassets/2022-23/documents/advisory-board-april-2023.pdf

This was as much as we saw - it's detailed without being so, which sounds like an oxymoron.  Basically, it's got quite a bit of flesh, but no bones - lots of words to say not a lot about specific outcomes and plans to get there.  The only bit that does get close is the pointing out of the amount of income and outgoings expected each year, but that doesn't make it clear if it's a cash position or P&L, where income is expected to come from or where it will be invested/spent.

Take the Academy stuff in here, because it is something I believe they could have moved on quickly if it was truly meant.  I understand the Ground is way more complex.

To support a Tier Two Academy, which is the goal in two years, requires several things that we do not have in place today.  First, an investment in infrastructure - the physical assets needed, like a Training Ground, changing facilities, catering facilities, all the digital infrastructure etc.  Plus the type of infrastructure that requires Operational Expenditure, like a determined staffing structure to support several groups of Academy Players, recruitment, medical, data analysts, coaching, safeguarding, education etc.  That's a minimum of about 2m a year in Opex and a few times more in capital investments needed.  That is a plan you could pull together within a few months, it's not like other teams have not done similar before.

Next, you need to put some flesh on that plan - where will it be, what timeline is needed to get to perfect and what are the key deliverables long the way?  How will funding be sourced?  How much precisely do we think is needed and when?  Is it something we will do alone, or in some sort of partnership?  Is it just in the UK, or do you pull the plan for Australia into this?

And so on.

Now go look at the actual Academy update for April in that document - nothing.  Bar some comments about hiring one or two people, into role that just support the status quo, and somebody providing some scaffolding, it's barren.  The Trust should be pushing for more here, the club should be offering more but I suspect, there isn't anything to provide.  Every snippet we do get suggests little more than day to day tactical decision making in this area.

For anyone saying this takes time - within your first month or two, you hire a Head of Youth Development, you give them this as their primary objective.  You insist they have plans in front of you within 3-6 months, you agree the path and you start work on it, or you shelve it.  That person should be accountable and able to deliver.

[The Artist Formerly Known as Audrey]

did we just become best friends?

🤨

[The Million Pound Man]

Yeah you are right, nothing has been achieved.

1) Purchased the stadium with the supporters
2) Paid off £6-7m of debt
3) Rebuilt the staffing of the club (although we are still thin on the ground)
4) The womens team is now within the club and being supported
5) Investment in the stadium to fix issues that had been neglected for years

Now I'm sure the club could have achieved more but I think you have to be realistic, Clem doesn't have money to throw about and things take longer because of that.

1. Were gifted the stadium
2. Nothings been paid off, just transferred.
3. We're worse off that we were under Power here, hence the plea for volunteers.
4. Cant comment as not really paid attention.
5. The urinals dont even get cleaned, what investment are you seeing?

[RobertT]

Yeah you are right, nothing has been achieved.

1) Purchased the stadium with the supporters
2) Paid off £6-7m of debt
3) Rebuilt the staffing of the club (although we are still thin on the ground)
4) The womens team is now within the club and being supported
5) Investment in the stadium to fix issues that had been neglected for years

Now I'm sure the club could have achieved more but I think you have to be realistic, Clem doesn't have money to throw about and things take longer because of that.

1) Fully funded by a deceased fan, club did nothing financially to directly fund it, but it does lead to 2)
2) The club is still in as much debt, just to different sources.  We actually don't know the contractual obligations for about 2.9m of it either
3) Yes, operational but needed
4) No idea why it was important given where we were - it was not a fire drill necessity and should have been behind several other core objectives, but I am supportive of the move in general.  Also took very little heavy lifting - required little more than some people changes.
5) Part of our ongoing responsibilities as a leaseholder - Clem was here before with a specific remit of stadium development, if he didn't know, more fool him.

I am not saying we are in bad place vs 2021, not at all, just saying nothing concrete is in place.  If Clem sold us today, the only things the next owner inherits that sets us up for long term success vs. what Clem inherited, are the Ground ownership/lease deal, something that was already in play under Power, that Clem was already part of and was funded by people outside the club.  The Trust get top marks for initiating it and Eady for funding it.  The other being the Debenture being replaced by something else (although we are assuming the replacement is better, we don't actually know for sure).

Now, if Clem converted his debt to equity, that would be a move that fundamentally change something.

If a 10 year development plan was released and supported by agreed funding, that would be a game changer.

But we haven't seen those types of things.  he said he had enough to match the 7m offer to buy the club, so in reality, if he was telling the truth, he could have paid the debt within a few months as he was only converting to debt to him.

[Batch]

Yeah you are right, nothing has been achieved.

1) Purchased the stadium with the supporters
2) Paid off £6-7m of debt
3) Rebuilt the staffing of the club (although we are still thin on the ground)
4) The womens team is now within the club and being supported
5) Investment in the stadium to fix issues that had been neglected for years

Now I'm sure the club could have achieved more but I think you have to be realistic, Clem doesn't have money to throw about and things take longer because of that.

1) Brilliant - well done Eadie
2) Brilliant, though we still owe its better internal than external. Assuming none of it is acruing interest via sharegate that is.
3) Have we? Customer facing hasn't changed much as far as I can tell. But I'm not knocking what I can't see
4) Don't care. But as long as its self funding I can see no negatives.
5) True. Though part  of that is offset by rent reductions.

The biggest issue is we are told we will lose 500K-1M minumum this year. How do we solve that if its not one off cost related?

[ChalkyWhiteIsGod]

Yeah wasn't the greatest argument for things being achieved that post.

Essentially boils down to we were gifted the freehold to the stadium through a generous supporter who had passed on. The end.

[Legends-Lounge]

How about £5 on all tickets? Programmes £5. All drinks an extra £0.50-1.00 all food an extra £1 and £10.00 on hospitality? Seriously. I’m not naming people but we collectively have to get over the fact that Clem or anyone within his sphere of financial standing hasn’t got the £m’s to throw at our club save for an oligarch, Sheikh or minted megalomaniac. So the money comes from where?

I’ve been having this discussion with my DNA Sat on our £500m yacht in the Cayman Islands whilst booking our private jet and helicopter transfers to tomorrow’s game. A tough conundrum to which we have no answer. Hang a sec just moving a loose £5b around. Ah lunch has arrived. Down to our last ten cases of Crystal Champers don’t you know.

[Mooneyraker]

I genuinely have no issue with Clem having no money. It is what it is. I have an issue with the Championship in 5 years, best academy outside the Premier League, competitive budget bullshit, and the fact that it is unchallenged by our Supporters Trust.

[Bob1978]

I genuinely have no issue with Clem having no money. It is what it is. I have an issue with the Championship in 5 years, best academy outside the Premier League, competitive budget bullshit, and the fact that it is unchallenged by our Supporters Trust.

So you have an issue with ambition?