New beginnings - 25% Truth, 80% Bollocks

[RobertT]

Either way, it's not the actual point.  The point is that they are trying to do the opposite of being transparent.  Fine, but you live and die by the sword.

The turnstiles bollocks - just say they haven't been opening as many as a cost cutting exercise.  If they think they fucked it up and went too far, say they are taking measures to address.  If they actually think it's working OK, then just man up and say so.  We are cutting costs so fans should expect longer queues for the remainder of the season as a result.  Instead they pretend it's actually several hundred/thousands of fans who are confused and deluded and all the turnstiles are open but they are too stupid to see it.

[STFC_Manc]

Edited for you - are you suggesting it would have been Eady Trust asking for it not to be disclosed?

No I'm stating that the AB notes mentioned that both STFC and the Eady Trust paid for this project.

[RobertT]

“This club can be sustainable. I have built a multi-national corporation by hiring the right people at the right times and by constantly reinvesting money back into the business, not taking money out. My vision is to run the club in the same way.

“Swindon Town can absolutely be a sustainable, healthy, community-oriented football club and the people of Swindon deserve that. They have suffered enough.

“If we do manage to complete the purchase of the club, members of the affiliated supporters’ groups will be appointed to the board. Fans will have access to financial and accounts information, and we’ll provide board meeting minutes too.

“This is how I have run and grown Axis, and how we would run and grow Swindon Town”.

This is what I mean - the evidence and behaviours are pointing us in a very different direction.  We are likely losing as much as under Powers final three years (he actually turned a profit in some years prior to that through player trading, not that the club benefited from that), and the situation is getting worse, not better.

The real tell is his Axis business - that is, no doubt through global downturns in construction, facing some real financial pressures.  It has likely shown up some less ethical behaviours than he would like to have admitted in that statement (could turn out to have been illegal, we wait and see on that front).  It's no wonder people ask questions given the entire context.

[Ƭ̵̬̊: The Artist Formerly Known as CWIG]

I really don't get people demanding to see what makes up the admin expenses, or does every other club do it?

Does every club employ career criminals with a history of money laundering?

[Ƭ̵̬̊: The Artist Formerly Known as CWIG]

Better read this then.......

https://truststfc.com/2021/04/12/truststfc-press-release-9-4-21-clem-morfuni-outlines-vision-for-stfc-reiterates-commitment-at-trust-board-meeting/

And there it is

[STFC_Manc]

Better read this then.......

https://truststfc.com/2021/04/12/truststfc-press-release-9-4-21-clem-morfuni-outlines-vision-for-stfc-reiterates-commitment-at-trust-board-meeting/

The club has provided financial and accounts information? It doesn't say it will provide a breakdown of the admin expenses.

[RobertT]

The club has provided financial and accounts information? It doesn't say it will provide a breakdown of the admin expenses.

"financial and accounts"

Behave, pedantry is not really a Clem trait, so I very much doubt he said what he said thinking he was being clever and could later fall back on the Accounts for a Small Company being what that encapsulated.  It was a clear shot at Power who produce Micro accounts.

[RobertT]

Manc, go back to my point - do the accounts paint a picture of a well run sustainable business moving towards growth?  Or do they paint a picture of a business in distress, with growing current liabilities (suggesting creditors not being paid or not being paid on time), growing long term liabilities, falling profits (after one off items), falling Revenue and rising costs?

None of that begins to look at why, or who, just the facts of the business.

[STFC_Manc]

RT - go back to my original post... I was talking about people expecting a breakdown of admin expenses are not being realistic.

You do know this is a football club and very few club accounts paint a picture of a well run sustainable business.

[Dr Pierre Chang]

Evening Steve (well, morning where you are!)

[RobertT]

RT - go back to my original post... I was talking about people expecting a breakdown of admin expenses are not being realistic.

You do know this is a football club and very few club accounts paint a picture of a well run sustainable business.

Yes, because I am not an idiot.

You are being pedantic, clearly for reaction.

We are producing results, financially, that show we are not achieving our full potential vs clubs of other sizes in terms of Revenues.  I will have that argument with anyone willing to engage with views otherwise.

We are showing similar cost structures to some clubs of similar sizes, but with a slightly higher proportion aligned to non player wages (at least based on what we can determine and compare).

We are run by an owner who made public statements that he is not living up to.

We are showing many signs of evidence of being poorly run - physical evidence, not just paper.

I contend that we are not operating at our maximum potential.  Direct comparisons are difficult, and the business of running a football club in the English leagues is not a profitable one.  However, data can be sourced, and from that you can indeed show other clubs do a better job of earning Revenue from their operations relative to customer base (described as the total number of attendees in a financial year).  Of course, some other clubs have owners who can seemingly convince their lawyers to treat investments as equity rather than loans (enabling higher relative player wage budgets).  Some manage to have their business Sponsor the club to do that, some run up large debts.  I want to learn from all of them, but I only actually care about STFC.

[Ƭ̵̬̊: The Artist Formerly Known as CWIG]

Evening Steve (well, morning where you are!)

Steve or Anthony? Must be Mr Hall either way.

[STFC_Manc]

Yes, because I am not an idiot.

You are being pedantic, clearly for reaction.

We are producing results, financially, that show we are not achieving our full potential vs clubs of other sizes in terms of Revenues.  I will have that argument with anyone willing to engage with views otherwise.

We are showing similar cost structures to some clubs of similar sizes, but with a slightly higher proportion aligned to non player wages (at least based on what we can determine and compare).

We are run by an owner who made public statements that he is not living up to.

We are showing many signs of evidence of being poorly run - physical evidence, not just paper.

I contend that we are not operating at our maximum potential.  Direct comparisons are difficult, and the business of running a football club in the English leagues is not a profitable one.  However, data can be sourced, and from that you can indeed show other clubs do a better job of earning Revenue from their operations relative to customer base (described as the total number of attendees in a financial year).  Of course, some other clubs have owners who can seemingly convince their lawyers to treat investments as equity rather than loans (enabling higher relative player wage budgets).  Some manage to have their business Sponsor the club to do that, some run up large debts.  I want to learn from all of them, but I only actually care about STFC.

Not being pedantic at all, I agree that the accounts show a business in distress, my point was that the vast majority of clubs are run this way. 

We are clearly not operating at maximum potential, which is because of the fans (clearly joking). The club need to invest in more staff to achieve this and stop doing stupid things (blaming fans etc).

[doversparkred]

Is Axis actually trading anywhere in the world at the moment? 

And related to this, if Clem has loaned STFC £8m, where has this money come from? Is it his personal wealth, or funded by Axis corporate structures that are no longer trading?

[doversparkred]

Not being pedantic at all, I agree that the accounts show a business in distress, my point was that the vast majority of clubs are run this way.  

We are clearly not operating at maximum potential, which is because of the fans (clearly joking). The club need to invest in more staff to achieve this and stop doing stupid things (blaming fans etc).

I agree with your questions, Manc.  It is dull and shortsighted to dismiss them so quickly. I think many of these issues could have been sugarcoated (or avoided entirely) through polished comms and better PR… which I’m not saying would be a good thing, just pointing at the club’s capability to put its fit in its mouth! Better presentation might mean we’d have the exact same ownership situation but possibly a less outraged and judgmental fanbase.  “How is the ownership of STFC actually any different to anyone else” is a fair question IMO.