New Finance Director

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al_quaker
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Re: New Finance Director

Post by al_quaker » Wed Feb 13, 2019 8:14 am

Surely the easiest way to get the DFCSG to court external investment is for a member to stand at the next election on a manifesto to do that? I'll be shocked if there is anyone out there waiting to be wooed by a part-time, loss making, regional football club with no assets but you never know.

More realistically, hopefully Craig Morley can (continue to) develop good links between the football club and local businesses

And also hopefully we go on a mammoth FA cup run.

Vodka_Vic
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Re: New Finance Director

Post by Vodka_Vic » Wed Feb 13, 2019 8:33 am

Re: The 300k debt. I assume I'm one of the 'creditors' having bought community shares in the stand extension. However, I'm not expecting nor particularly wanting to have this money repaid. Will there be the choice to 'gift' this to the club eventually?

OnTheTerraces
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Re: New Finance Director

Post by OnTheTerraces » Wed Feb 13, 2019 9:42 am

The £300k isnt really a debt if its the DFCSG, they will never call it in unless some chancer comes hoping to buy a football club, move it to a new site and then build houses on it if the club,, which they dont really care about, goes bust.

That £300k doesnt worry me, its the wage bill versus the income and VAT payments that does!!

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divas
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Re: New Finance Director

Post by divas » Wed Feb 13, 2019 10:07 am

Vodka_Vic wrote:Re: The 300k debt. I assume I'm one of the 'creditors' having bought community shares in the stand extension. However, I'm not expecting nor particularly wanting to have this money repaid. Will there be the choice to 'gift' this to the club eventually?
It was certainly something that we discussed when I was on the board of offering at some point in time to allow people to write off their shares thus reducing the (on paper) liabilities

super_les_mcjannet
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Re: New Finance Director

Post by super_les_mcjannet » Wed Feb 13, 2019 10:17 am

OnTheTerraces wrote:The £300k isnt really a debt if its the DFCSG, they will never call it in unless some chancer comes hoping to buy a football club, move it to a new site and then build houses on it if the club,, which they dont really care about, goes bust.

That £300k doesnt worry me, its the wage bill versus the income and VAT payments that does!!
It starts being paid back in a couple of years time which will affect your budget each year. So if that's what you mean by not really a debt then that's a strange view.

It may however possibly get ploughed back into the club as DFCSG may purchase shares.

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Re: New Finance Director

Post by super_les_mcjannet » Wed Feb 13, 2019 10:24 am

Vodka_Vic wrote:Re: The 300k debt. I assume I'm one of the 'creditors' having bought community shares in the stand extension. However, I'm not expecting nor particularly wanting to have this money repaid. Will there be the choice to 'gift' this to the club eventually?
You can over time cash your shares in with DFCSG, however this doesn't change the debt DFC owes to DFCSG. This would take some kind of vote and for legality would cost money to set up no doubt.

I presume you can hand in your shares at some point and leave the money with DFCSG, they in turn could perhaps turn some DFC debt into shares, giving DFCSG more of a grip on the club (they have this anyhow).

However currently the debt is there and if our fantasy investor wants to take on the club, then guaranteeing this debt is a must really. They can build us a stadium and put in an extra 200k into the playing budget for next season well.

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Re: New Finance Director

Post by super_les_mcjannet » Wed Feb 13, 2019 10:26 am

quakersfan wrote:Chatting to board members in the past, there was more than
Raj who have expressed an interest perhaps we should engage again or perhaps we are.
So you have gone from no one is courting business community or entrepreneurs to you know some have expressed an interest and perhaps we are chatting to them.

It very much feels like you have something to say but don't want to say it, just spit it out you will feel better.

I do agree though other interest has been shown previously but no surprise to see it has never really made it to a proposal stage to the fans, think that tells you enough about that interest.

I really don't see any point in anyone whinging on saying we need investment it's pointless, I need to win the lottery to stop working but I don't whinge constantly because it hasn't happened.

As a club we can only make plans with the real life options that are on the table, currently that's fan ownership as we know it. Until any so called investor steps out of the shadows with 300k to guarantee debts, chunk of money to build a new ground and another chunk to flood the playing budget, and they want to do all this whilst having some legal elements that keeps the club and any assets safe and without debt then we might as well forget about it.

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Re: New Finance Director

Post by Vodka_Vic » Wed Feb 13, 2019 12:31 pm

It's no secret that interest has been shown by investors but not made it to a proposal stage, as Les says. David Johnston said it, I think at the last Netcafé.

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QuakerPete
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Re: New Finance Director

Post by QuakerPete » Wed Feb 13, 2019 2:59 pm

divas wrote:
Vodka_Vic wrote:Re: The 300k debt. I assume I'm one of the 'creditors' having bought community shares in the stand extension. However, I'm not expecting nor particularly wanting to have this money repaid. Will there be the choice to 'gift' this to the club eventually?
It was certainly something that we discussed when I was on the board of offering at some point in time to allow people to write off their shares thus reducing the (on paper) liabilities
Can you explain your last paragraph in a bit more detail please divas. What is the current state of okay for those who hold community shares?


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divas
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Re: New Finance Director

Post by divas » Wed Feb 13, 2019 5:13 pm

super_les_mcjannet wrote:
Vodka_Vic wrote:Re: The 300k debt. I assume I'm one of the 'creditors' having bought community shares in the stand extension. However, I'm not expecting nor particularly wanting to have this money repaid. Will there be the choice to 'gift' this to the club eventually?
You can over time cash your shares in with DFCSG, however this doesn't change the debt DFC owes to DFCSG. This would take some kind of vote and for legality would cost money to set up no doubt.

I presume you can hand in your shares at some point and leave the money with DFCSG, they in turn could perhaps turn some DFC debt into shares, giving DFCSG more of a grip on the club (they have this anyhow).

However currently the debt is there and if our fantasy investor wants to take on the club, then guaranteeing this debt is a must really. They can build us a stadium and put in an extra 200k into the playing budget for next season well.
Like you point out, the easiest way to reduce the “debt” is for DFCSG to convert portions of the loan over time if fans decide to write off their community shares. Otherwise yes there is an expectancy that’s DFC would make a provision in their annual budget to pay down the loan - the proceeds from which are held by DFCSG for payback to shareholders.

Of course the Communiry Share agreement does stipulate that shares can only be sold if the funds are available to repay them.

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divas
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Re: New Finance Director

Post by divas » Wed Feb 13, 2019 5:17 pm

QuakerPete wrote:
divas wrote:
Vodka_Vic wrote:Re: The 300k debt. I assume I'm one of the 'creditors' having bought community shares in the stand extension. However, I'm not expecting nor particularly wanting to have this money repaid. Will there be the choice to 'gift' this to the club eventually?
It was certainly something that we discussed when I was on the board of offering at some point in time to allow people to write off their shares thus reducing the (on paper) liabilities
Can you explain your last paragraph in a bit more detail please divas. What is the current state of okay for those who hold community shares?


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Currently state of play is that anyone who holds community shares retains the ability to choose to cash those in during future windows based on the terms in the offer around a maximum amount available / maximum percentage of shareholding that can be cashed in per year (subject to funds being available)

At some point in the future it’s not beyond the realms of possibility that the DFCSG may ask community shareholders whether they want to write off their shares. Writing off the shares would theoretically mean that the burden on the club to make the loan repayments to the DFCSG is reduced.

quakersfan
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Re: New Finance Director

Post by quakersfan » Wed Feb 13, 2019 5:28 pm

super_les_mcjannet wrote:
quakersfan wrote:Chatting to board members in the past, there was more than
Raj who have expressed an interest perhaps we should engage again or perhaps we are.
So you have gone from no one is courting business community or entrepreneurs to you know some have expressed an interest and perhaps we are chatting to them.

It very much feels like you have something to say but don't want to say it, just spit it out you will feel better.

I do agree though other interest has been shown previously but no surprise to see it has never really made it to a proposal stage to the fans, think that tells you enough about that interest.

I really don't see any point in anyone whinging on saying we need investment it's pointless, I need to win the lottery to stop working but I don't whinge constantly because it hasn't happened.

As a club we can only make plans with the real life options that are on the table, currently that's fan ownership as we know it. Until any so called investor steps out of the shadows with 300k to guarantee debts, chunk of money to build a new ground and another chunk to flood the playing budget, and they want to do all this whilst having some legal elements that keeps the club and any assets safe and without debt then we might as well forget about it.

It’s not a secret Super Les as it was mentioned in the Netcafe by DJ that there had been some enquiries however he obviously didn’t mention names. At the end of the day we get the club that fans want. I was asking has anyone followed these enquiries up as it obvious progressing to the next level is going to be difficult if not impossible, this is not a criticism of what’s been achieved just a reality on where we are as a club.

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divas
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Re: New Finance Director

Post by divas » Wed Feb 13, 2019 5:31 pm

I think it’s less about following these enquiries up and more about the nature of them. Tyre kickers at best

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