New beginnings - 25% Truth, 80% Bollocks

[RobertT]

Steve or Anthony? Must be Mr Hall either way.

No he is not, he is certainly an STFC fan.

[RobertT]

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… in which case we’d have the exact same situation but possibly a less outraged fanbase.  “How is the ownership of STFC actually any different to anyone else” is a fair question IMO.

Good question,

Not a million miles off some, that is for sure, but I do not think that is good.

I believe, compared to those with whom we would like to think we compete, we have slipped though.  We are in decline as a club and a business.

Our ownership is criticised more so because they tried to convince people they were something different.  The curtain fell off pretty quickly though - the vast majority of the people with influence are the same as the prior five years and the business model has been less strategic than even under Power (who at least had some idea on how to make money from players - although that was limited to his mates in others clubs).

So - the short answer is I think we are run worse than our comparators.  I'd say we should be able to compete with a Millwall, or Plymouth, or Wycombe.  Guess what a lot of these clubs do have in common, they managed to get investors on the hook with their potential.  Before someone responds back, I haven't checked their inner financials completely, and they all lose money still, to a degree.  But by god they've left us behind for now.

[doversparkred]

Would a Holloway-inspired end of season race to playoff success and an unlikely promotion to league one be a good or bad thing for the club?

It’s an uncomfortable question, especially given our divided fanbase. One man’s “Hall is shit” is another man’s “but Clem saved the club!”

[singingiiiffy]

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 informed fanbase.  “How is the ownership of STFC actually any different to anyone else” is a fair question IMO.

In truth the ownership is probably no different. But that is total irrelevant because we are Swindon fans worried about Swindon and the only focus is on our ownership. We aren't asking for anything more than what was promised to us:

• Provide quarterly management and financial updates to provide transparency to the Trust on the financial position and performance of STFC.
• Commence monthly meetings with representatives from the Trust, STFC and Swindon Town Official Supporters Club. Minutes of these meetings will be circulated and kept as a record to measure future performance against stated aims and goals.
• To prepare and file full annual accounts regularly and on time (audited where required)
• To answer all questions from all local media outlets and never seek to censor or avoid proper questions.
• I will always be open and transparent on all matters in regard to STFC.
• I will provide regular engagement and communication with the supporters and the wider community of Swindon and surrounding areas.
• I will build a sustainable future for STFC, investing in the infrastructure of the club with the aim to take it forwards to being a stable Championship club.

People should be held against what they promise. The fans invested into these promises.
https://www.swindonadvertiser.co.uk/sport/19157622.clem-morfunis-response-trust-stfc-open-letter/

[DV]

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.

I have absolutely no doubt what so ever - other clubs are making losses comparable to our club. That’s practically a given…

…however, are the other clubs biggest & continually increasing black hole ‘admin expenses’ yes or no?

…I’m not financial expert but a business losing a lot of money who can’t exactly tell you where that money is going appears dodgy. The fact that a lot of other aspects of said business appear to be being done on the cheap make that unexplainable black hole look even more dodgy.

[Bob's Orange]

I do find the 'well other clubs are doing it' argument, if that's indeed what it is, is just a lazy way of being accepting of the general malaise at STFC. Ultimately, its probably right, and the vast majority of other professional clubs do run at a loss.

But that doesn't excuse the way our club is being run, and I think RobertT and iffy have summed it up nicely. Clem's stated aims when the club was taken over have pretty much now totally been proved to be false. Despite claiming he's going to get better, I think you'd struggle to find anything to support that. I guess appointing Holloway would be seen as a win, more luck than judgement given appointments after Garner left. The Legends Lounge looks smart to be fair, at the second time of asking. But the things not up to standard easily outweigh the bad.

I've always hoped that Clem was more incompetent rather than nefarious and I'm still unsure if I'm totally honest. Did we ever appoint that Marketing guru by the way? That seems to be the longest interview ever!

[STFC_Manc]

I have absolutely no doubt what so ever - other clubs are making losses comparable to our club. That’s practically a given…

…however, are the other clubs biggest & continually increasing black hole ‘admin expenses’ yes or no?

…I’m not financial expert but a business losing a lot of money who can’t exactly tell you where that money is going appears dodgy. The fact that a lot of other aspects of said business appear to be being done on the cheap make that unexplainable black hole look even more dodgy.

Underlying admin expenses haven't increased by that much though?

[Bob's Orange]

Underlying admin expenses haven't increased by that much though?

What have the underlying admin expenses figures from 2021-2024 out of interest? (I've genuinely no idea)

[Bennett]

"Line items" with admin expenses in unaudited filings

Year end 2023 £3,664,206
Year end 2022 £2,318,666
Year end 2021 £1,483,116

https://find-and-update.company-information.service.gov.uk/company/00053100/filing-history

Edit - goal assist reports here https://goalassist.co.uk/swindon-town-fc

[Batch]

So do we expect 2024 to go back to 2.3M then, given 2023 included the Eady money that went to the Trust side of the JV.

21>22 nearly 1M added. Wonder why.

[Pookemon]

So do we expect 2024 to go back to 2.3M then, given 2023 included the Eady money that went to the Trust side of the JV.

21>22 nearly 1M added. Wonder why.

20-21 was the covid season

[Pookemon]

"Line items" with admin expenses in unaudited filings

Year end 2023 £3,664,206
Year end 2022 £2,318,666
Year end 2021 £1,483,116

https://find-and-update.company-information.service.gov.uk/company/00053100/filing-history

Edit - goal assist reports here https://goalassist.co.uk/swindon-town-fc

It's not as simple as that.  20-21 was the covid season so artificially low and 22-23 had the stadium purchase so artificially high.  

Adjusting for the £1.2m the 21-22 and 22-23 were fairly similar.  

[Bob's Orange]

"Line items" with admin expenses in unaudited filings

Year end 2023 £3,664,206
Year end 2022 £2,318,666
Year end 2021 £1,483,116

https://find-and-update.company-information.service.gov.uk/company/00053100/filing-history

Edit - goal assist reports here https://goalassist.co.uk/swindon-town-fc

Thanks Bennett

[Bennett]

It's not as simple as that.  20-21 was the covid season so artificially low and 22-23 had the stadium purchase so artificially high.  

Adjusting for the £1.2m the 21-22 and 22-23 were fairly similar.  

I'm presenting numbers and links, not providing commentary or opinion

[tans]

Holloway basically saying he has a new contract