Martyn Starnes Interview - BBC

[Dazzza]

Starnes: £1 million been spent
Listen to BBC Radio Swindon's Ed Hadwin interview with Town's acting Chief Executive Martyn Starnes
 
 http://www.bbc.co.uk/wiltshire/content/images/2006/11/29/martyn_starnes_203_203x152.jpg
 
Swindon Town's acting Chief Executive says more than £1 million, invested in the club by Bill Power this summer, has already been spent paying the club's existing losses.

Martyn Starnes revealed the cash was swallowed up ensuring the club broke-even last season as well as keeping things going over the summer.

But the club insist there is no need to worry about Swindon's attempts to re-structure a further £1 million of debt.

Starnes says they are looking at other ways of funding that payment, in case their negotiations with the administrator fail but admits the investment from Bill Power has already been used:

http://www.bbc.co.uk/wiltshire/content/articles/2006/11/29/stfc_2_291106_feature.shtml


Audio interview here...

http://www.bbc.co.uk/wiltshire/realmedia/martyn_starnes_291106.ram

[Panda Paws]

Erm, but did he not pay the money AFTER the season has started? So is Starnes saying they were late with last year's CVA or that they accumulated yet more debt last season?

What did they spend it on, exactly? And was the money from the sale of Rory Fallon not enough to mitigate their losses for that season?

Are they really trying to tell me that they overspent by more than £1.3m (Power+Fallon sale)? And what about the cash a few years back from Parkin's sale? That's another approx £400,000 ...

Fucking hell ... It's accounting for infant school children.

[Samdy Gray]

What gets me is why they'd pay other bills before the CVA?  

[spacey]

Did anybody who emailed this Starnes chap get a reply? I mailed him but got nothing......admittedly it was cheese related but still..

[Batch]

Fucking hell ... It's accounting for infant school children.

Well Sandy 'what VAT/CVA commitments are met' G is our director of finance so it isn't really a suprised is it?
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Incidently, why has Walsall got £5 million turnover v our £3.5. They get more or less the same number of fans in a game as us? Is the non-football side that affluent at the bescott?
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What gets me is why they'd pay other bills before the CVA?  

Indeed  :?:

[Reg Smeeton]

Fucking hell ... It's accounting for infant school children.

Well Sandy 'what VAT/CVA commitments are met' G is our director of finance so it isn't really a suprised is it?
------
Incidently, why has Walsall got £5 million turnover v our £3.5. They get more or less the same number of fans in a game as us? Is the non-football side that affluent at the bescott?
---

What gets me is why they'd pay other bills before the CVA?  

Indeed  :?:

 Walsall trouser loads from the weekly car boot sale in the car park around their ground.

[Batch]

Wow, £1.5m from car boot sales. I'm setting me one of them up...

[sonic youth]

can anyone transcribe that interview? or summarise it? please.

[mrs_spacey]

I have never before heard such a load of total utter bollocks spoken from someone who is supposed to be a business person :x

 :shake: shocking

[Reg Smeeton]

Starnes is in trouble......Mrs Spacey is now on his case.

[Reg Smeeton]

Wow, £1.5m from car boot sales. I'm setting me one of them up...

 I think its a market as well as car boot...they get 250 stalls lets say that's 100 a stall then thats 1.25 mill pa.

[Dazzza]

In his defence the Bescott does a hell of a lot of conferencing, nothing really the CG couldn’t do but I’ve suffered a couple of events there on separate occasions and they're on to a real earner.

For SY…

The 100k was in the bank in June and we still have it although it’s been decided to amalgamate it with the 900k payment next year that we’re attempting to re-negotiate with the creditors.

This was kept stum at the AGM because, erm not sure if there was a specific reason but there was mention that it was on the advice of the administrators.  Anyone?

The club hoped to be in a better position with the CG development to pay the above.  :shock:  

Bill Powers’ money was used to clear the trading deficit from last season and over the summer.  That pot is now empty.

There was mention of ITV digital deal leaving everyone skint.

Walsall have reduced a comparable 2 million annual deficit to us down to a break even figure, however their turnover is £5 million compared to our £3.5.

There was mention of cutting costs this season, nothing specific mind.

Finally the club are attempting to approach local businesses, heal rifts and bring money into the club.

[Reg Smeeton]

Only the extremely gullible would give any credence to the utterings of a Newbury placeman like Starnes......the mere mention of ITV digital shows their desperation.

[sonic youth]

cheers daz, shame it's the same old excuses and bollocks though.

why not pay the 100k and renegotiate the 900k payment after? surely by being up to date with payments the club would be in a better position to negotiate?

what trading deficit? the budget was cut dramatically last season, how did they manage to be overbudget? if they was such a deficit from last season, how on earth did they manage a £1m overspend so far this season - is that devlin's fault too?

itv digital left everyone in the shit. that was years ago. not an excuse.

walsall have better facilities than us. do they not have good conferencing facilities as well?

the club have been "attempting" to heal rifts since the premiership days, i'm not going to hold my breath.

i'm fucking sick to death of all o fthis.

[Dazzza]

why not pay the 100k and renegotiate the 900k payment after? surely by being up to date with payments the club would be in a better position to negotiate?

ED Hadwin did ask the same question but the answer was slightly evasive something to do with it being on the advice of the administrators.  

Can’t see why unless we are attempting to renegotiate the amount or use the 100k to cover more deficit from this season.