Short Term Future

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BlackandwhiteBOB
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Short Term Future

Post by BlackandwhiteBOB » Thu Dec 19, 2013 7:37 pm

Just received an email from the club advertising new fund raising initiatives. Looks like we are looking for 50k to keep the club operating short term. I assume this is to service the debt.

Well structured plans to hopefully get people interested.

darlo1883
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Re: Short Term Future

Post by darlo1883 » Thu Dec 19, 2013 7:44 pm


BlackandwhiteBOB
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Re: Short Term Future

Post by BlackandwhiteBOB » Thu Dec 19, 2013 7:59 pm

I keep forgetting about links! Doh

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micra3
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Re: Short Term Future

Post by micra3 » Thu Dec 19, 2013 8:07 pm

BlackandwhiteBOB wrote:Just received an email from the club advertising new fund raising initiatives. Looks like we are looking for 50k to keep the club operating short term. I assume this is to service the debt.

Well structured plans to hopefully get people interested.
Where does it say

'Looks like we are looking for 50k to keep the club operating short term'.
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BlackandwhiteBOB
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Re: Short Term Future

Post by BlackandwhiteBOB » Thu Dec 19, 2013 8:14 pm

micra3 wrote:
BlackandwhiteBOB wrote:Just received an email from the club advertising new fund raising initiatives. Looks like we are looking for 50k to keep the club operating short term. I assume this is to service the debt.

Well structured plans to hopefully get people interested.
Where does it say

'Looks like we are looking for 50k to keep the club operating short term'.
Like I said, in the email I received, see below for the text from the email:

The Board of Darlington 1883 Limited is delighted to announce the launch of a major fund-raising drive to support its dream of returning to its home town.

The club last week unveiled exciting and ambitious plans to share the ground and facilities with Darlington Rugby Football Club at Blackwell Meadows.

And today it launches its fund raising initiative which allows fans to buy further shares in the club and thereby not only provide further financial stability for the club, but also allow for plans for the return to Darlington to be firmly embedded.

The club hopes to raise a minimum of £50,000 through a combination of 3 unique fund raising initiatives – devised to appeal to all fans depending on their personal circumstances and offering exciting club related rewards for investing. There are opportunities and lucrative incentives for corporate and community partners to invest too.

The club’s Chief Executive Officer, Martin Jesper, said the future of the fan-owned club lies deep in the heart of the community, working alongside the rugby club and other local partners.

“This club’s financial challenges have been made extremely clear in recent months and, whilst I know it is a difficult ask at this time of the year, we are delighted that we are finally able to launch this scheme. This is a club owned by the fans and it is thanks to the generosity and support of the fans that this club still exists” he said.

The club is enjoying a second season sharing facilities at Bishop Auckland, but fans have rightly been calling for a return to their home town.

After months of negotiation, the club last week signed a Memorandum of Understanding with Darlington RFC, and ongoing discussions regarding the move and facility sharing arrangements will continue between the clubs over the next few weeks.

“I am encouraging all of our fans, local business and community partners to come forward and invest in the football club which will help secure its short term future, and most importantly, provide the financial momentum supporting our move back to Darlington and hopefully we can welcome a new generation of supporters into the fold. Together we can make this work” said Mr Jesper.

The club’s next Fans Forum has been arranged at Blackwell Meadows on 6 January 2014, from 7:00pm, during which fans will have the opportunity to find out more about the 3 fund raising initiatives. In the meantime, further details are available from the club’s website and the investment opportunities can be viewed here and here.

quakersam
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Re: Short Term Future

Post by quakersam » Thu Dec 19, 2013 8:18 pm

The accounts are available within the pdf on Squareknot for those that were wanting to see them, also on companieshouse.

Current debt figures make interesting reading too
Last edited by quakersam on Thu Dec 19, 2013 8:22 pm, edited 1 time in total.
QuakerSam ...Once a Quaker, always a Quaker

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Re: Short Term Future

Post by love it! » Thu Dec 19, 2013 8:20 pm

I can't view the pitch on the Squareknot site and have registered and havent received my loggin details. Could anyone list the pitch details on here?

I'm keen to invest with payday + bonus being paid tomorrow!

Scratch that, working now

Andy

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Re: Short Term Future

Post by super_les_mcjannet » Thu Dec 19, 2013 8:23 pm

love it! wrote:I can't view the pitch on the Squareknot site and have registered and havent received my loggin details. Could anyone list the pitch details on here?

I'm keen to invest with payday + bonus being paid tomorrow!

Scratch that, working now

Andy
You receive an email but it is likely to be in your junk, mine certainly was. Accounts are an interesting read but haven't got my head round them fully yet.

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Re: Short Term Future

Post by love it! » Thu Dec 19, 2013 8:36 pm

Notice at the end of the recent history part if states the Memorandum with DRC was signed with an aspiration of starting to play league football at the start of 2014/15

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Re: Short Term Future

Post by quakersam » Thu Dec 19, 2013 8:36 pm

Didn't realise how much the TUPE liabilities actually were, but these are under control running around £1300/mth. Looks like its the other structured debt that needs to be repaid mind, but it is rapidly coming down. Debt figure should be around £60k by next June (minus director/CIC loan)
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micra3
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Re: Short Term Future

Post by micra3 » Thu Dec 19, 2013 8:37 pm

love it! wrote:Notice at the end of the recent history part if states the Memorandum with DRC was signed with an aspiration of starting to play league football at the start of 2014/15
Nothing new there !!
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Re: Short Term Future

Post by BlackandwhiteBOB » Thu Dec 19, 2013 8:44 pm

I think it's now plain to see why we have been waiting to hear from the club. This whole package must have taken an awful lot of work to prepare. I like that there are different options available dependant on what you can afford.

We all knew when we started out last season that it was going to be us, the fans who would have to keep this club going initially. I don't mind chipping in with what I can afford. I can't imagine my Saturday afternoons without the mighty Darlo!

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Re: Short Term Future

Post by love it! » Thu Dec 19, 2013 8:46 pm

Im pleased to have now seen the accounts and am reassured that an investment seems secure. I was thinking £500 but minimum of £1000 investment (note 3 different options and I am only commenting on investing) might be a stretch for me.

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Re: Short Term Future

Post by Darlofan97 » Thu Dec 19, 2013 8:55 pm

Good to see the facts there in black and white, nicely explained in layman's terms too.

Both the DFC Development Fund & the Back To Darlo fund both seem to be heading in the same direction and aiming for the same outcome.

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Re: Short Term Future

Post by quakersam » Thu Dec 19, 2013 9:00 pm

love it! wrote:Im pleased to have now seen the accounts and am reassured that an investment seems secure. I was thinking £500 but minimum of £1000 investment (note 3 different options and I am only commenting on investing) might be a stretch for me.
I think the larger investments are aimed at businesses. Mind, there's some good packages in there, shares, discounts on commercial advertising for 1, 2 and 3 year periods, season tickets for 1 & 2 years, signed shirts, hospitality packages

For the ordinary fan

£500 - share, £50 club shop voucher, 2 hospitality packages for 4
£250 - share, £25 club shop voucher, 2 hospitality packages for 2
£100 - share, £15 club shop voucher
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divas
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Re: Short Term Future

Post by divas » Thu Dec 19, 2013 9:05 pm

That's interesting as when the initial share offer was launched we were told giving things away was against FSA regs

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Re: Short Term Future

Post by super_les_mcjannet » Thu Dec 19, 2013 9:06 pm

divas wrote:That's interesting as when the initial share offer was launched we were told giving things away was against FSA regs
Worded as a donation to the club and the club gifts £1 ordinary share to the donor, probably a legal way round it as they dont get £100 shares which is what they put in.

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Re: Short Term Future

Post by divas » Thu Dec 19, 2013 9:13 pm

super_les_mcjannet wrote:
divas wrote:That's interesting as when the initial share offer was launched we were told giving things away was against FSA regs
Worded as a donation to the club and the club gifts £1 ordinary share to the donor, probably a legal way round it as they dont get £100 shares which is what they put in.
Makes sense - hadn't read that far

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Re: Short Term Future

Post by super_les_mcjannet » Thu Dec 19, 2013 9:18 pm

divas wrote:
super_les_mcjannet wrote:
divas wrote:That's interesting as when the initial share offer was launched we were told giving things away was against FSA regs
Worded as a donation to the club and the club gifts £1 ordinary share to the donor, probably a legal way round it as they dont get £100 shares which is what they put in.
Makes sense - hadn't read that far
Yeah just trying to take it all in fully myself, would be good if they go through the pack at the fans forum.

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Re: Short Term Future

Post by notgnilrad » Thu Dec 19, 2013 9:30 pm

Forgive me if I sound thick what is the difference between Back to Darlo fund and one on here is there 2 funds going so 75K needed on one and 50k need on the other is that correct? :?

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Re: Short Term Future

Post by super_les_mcjannet » Thu Dec 19, 2013 9:34 pm

notgnilrad wrote:Forgive me if I sound thick what is the difference between Back to Darlo fund and one on here is there 2 funds going so 75K needed on one and 50k need on the other is that correct? :?
Yes two funds in theory, one for the club fincances and one for the ground.

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Re: Short Term Future

Post by Quakerz » Thu Dec 19, 2013 9:46 pm

So if we don't raise the 50 grand...what happens?
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Robbie Painter
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Re: Short Term Future

Post by Robbie Painter » Thu Dec 19, 2013 9:46 pm

Such a shame the "back to Darlo" fund was launched at the weekend, really we need to be getting all our efforts behind this crowd funding initiative. It's very important that this message is understood by people who do want to put their hard earned cash in to support the club.

Two key points I picked out, 200 extra fans over and above our current crowds until the end of the season would bring in an extra £30k and the cash crunch point for the business is April. Time is of the essence here.

We really need to focus on:

A) hitting the squareknot fundraising targets over the next 2 months
B) getting those missing fans from last season back for our remaining home games
C) getting local corporate businesses on board with investment

Note there are actually 2 pitches for DFC, one the reward scheme for amounts under 1k and one the equity scheme for amounts of 1k or over. Good to see the some investments already.

https://www.squareknot.co.uk/pitch/darl ... scheme/184
https://www.squareknot.co.uk/pitch/darl ... l-club/185

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Re: Short Term Future

Post by notgnilrad » Thu Dec 19, 2013 9:48 pm

Is there a time frame for this, and does anyone else think this will be possible before the start of the next season.
I really hope we can pull this off because if we do then it will hopefully plain sailing after this.

COD.

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Re: Short Term Future

Post by notgnilrad » Thu Dec 19, 2013 9:50 pm

Robbie Painter wrote:Such a shame the "back to Darlo" fund was launched at the weekend, really we need to be getting all our efforts behind this crowd funding initiative. It's very important that this message is understood by people who do want to put their hard earned cash in to support the club.

Two key points I picked out, 200 extra fans over and above our current crowds until the end of the season would bring in an extra £30k and the cash crunch point for the business is April. Time is of the essence here.

We really need to focus on:

A) hitting the squareknot fundraising targets over the next 2 months
B) getting those missing fans from last season back for our remaining home games
C) getting local corporate businesses on board with investment

Note there are actually 2 pitches for DFC, one the reward scheme for amounts under 1k and one the equity scheme for amounts of 1k or over. Good to see the some investments already.

https://www.squareknot.co.uk/pitch/darl ... scheme/184
https://www.squareknot.co.uk/pitch/darl ... l-club/185

Hi Robbie,

Do we still just need £50k then as the target is 50k in both of the pitches.

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Re: Short Term Future

Post by darlodog » Thu Dec 19, 2013 9:52 pm

Reading the Echo it seems that the 1883 square knot pitch is aimed at the more affluent fan and will go to paying off debt and keeping the club alive. The CICs Back2Darlo is simply to fund the redevelopment of Blackwell Meadows. Makes sense I suppose, if they get 10 business men to lob £5k a piece in job done and the everyday fan like me can put £20 a month into back2darlo as that's all I can afford.

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Re: Short Term Future

Post by super_les_mcjannet » Thu Dec 19, 2013 9:52 pm

Quakerz wrote:So if we don't raise the 50 grand...what happens?
I guess in the grand scheme of things we would need to look at our squad for next season as budget would reduce massively. A whole lot hangs on how we do on the pitch this season, if we get on a roll like last season this will help off the pitch massively and set us up to come home.

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Re: Short Term Future

Post by super_les_mcjannet » Thu Dec 19, 2013 9:54 pm

notgnilrad wrote:
Hi Robbie,

Do we still just need £50k then as the target is 50k in both of the pitches.
75k target for Back to Darlo
50k target for Club finances.

125k in total.

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Robbie Painter
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Re: Short Term Future

Post by Robbie Painter » Thu Dec 19, 2013 9:54 pm

Quakerz wrote:So if we don't raise the 50 grand...what happens?
We cease to exist. There are probably some options to explore before we get to that point though.

It's actually 100k we are aiming for but half of would see us ok for now.

What I think is really important is that all of us on Uncovered and other hardcore DFC fans focus on the positive things we can achieve if we work together. This is our club and over the next few months if we work together we can secure its long term future and be back playing in Darlo next season.

To me this is the final hurdle, after all we've been through the last few years it would be devastating to fail now.

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Re: Short Term Future

Post by BlackandwhiteBOB » Thu Dec 19, 2013 9:58 pm

We won't fail. We can't fail. Yes this is the final hurdle. It has to be!

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