Boost the budget update

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Spyman
Posts: 11643
Joined: Thu Jul 09, 2009 10:04 pm
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Boost the budget update

Post by Spyman » Wed Jul 18, 2018 6:19 pm

Received the following email tonight - seems a very sensible proposition and it's really encouraging to see these kinds of things taken into consideration:

Thank you again for contributing towards our Boost The Budget scheme. We are contacting contributors to let them know that DFCSG is proposing to utilise the receipts from the Boost the Budget scheme to acquire equity in Darlington Football Club rather than transfer the monies as a straight donation. Every penny received from the Boost The Budget scheme will still go to the Football Club and every penny will be utilised by Tommy in his playing budget. However, the reason we are proposing to change the manner in which the funds are transferred to the Football Club is twofold:

Firstly, funds used to acquire equity in Darlington FC would not contribute to any potential operating profits that could be subject to corporation tax. In the event of the Football Club posting an operating profit, this could mean potentially 20% of the funds donated by fans could go to the exchequer. Our proposal would reduce the potential of that happening;

Secondly, DFCSG’s target is to increase our stake in Darlington FC from the current 82% to 90%. The reason for this is that if we had a 90% stake in the Football Club then if we were to launch a Community Share offer, then we would qualify for the Government’s EIS scheme that would enable investors to receive personal tax benefits, which would make it a lot more attractive prospect for potential investors. This could be crucial in the event that we achieve promotion to the National League and further ground investment is required.

If you are at all unhappy with the above proposal, please reply by email to neil.raper@dfcsg.co.uk and we will ensure that all of your individual Boost The Budget contributions are transferred directly to Darlington FC as a donation. If you are content with our proposal, you do not need to take any action.

Yours sincerely,
 
Chris Stockdale
Chair
Darlington FC Supporters Group

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On Sunday April 29, 2012 at 10:25 pm, Darlo Cockney wrote:Sadly some people have nothing better to do that invent rumours.

We will be playing at the arena again next season - fact.

Quakerz - if you actually attended games and spoke to people you might actually find our facts, rather than spreading s*** on this board.

DC

LoidLucan
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Re: Boost the budget update

Post by LoidLucan » Wed Jul 18, 2018 7:13 pm

These are sound reasons for doing it in this way while ensuring that every penny still goes to its original purpose.

darlo reborn
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Re: Boost the budget update

Post by darlo reborn » Wed Jul 18, 2018 7:21 pm

The less the government get the better

The Golden Hairclip
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Joined: Thu May 03, 2012 7:45 pm
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Re: Boost the budget update

Post by The Golden Hairclip » Wed Jul 18, 2018 7:24 pm

Sounds like a very sensible proposal, which enhances the club’s financial security and viability, whilst honouring the spirit and purpose of the fan’s donations. Well done to those concerned.


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loan_star
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Re: Boost the budget update

Post by loan_star » Wed Jul 18, 2018 8:38 pm

I agree 100% with this but how will it sit with the Corbyn supporters amongst us? :think:

Henley
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Re: Boost the budget update

Post by Henley » Wed Jul 18, 2018 10:59 pm

loan_star wrote:I agree 100% with this but how will it sit with the Corbyn supporters amongst us? :think:
I can’t believe there are any such fools . . .

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don'tbuythesun
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Re: Boost the budget update

Post by don'tbuythesun » Thu Jul 19, 2018 7:44 am

For the many, not the few. Sounds a bit like all the fans owning a football club!

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