rncfc wrote: September 15th, 2023, 8:58 pm
Bangitintrnet wrote: September 15th, 2023, 8:32 pm
Stan A. Einstein wrote: September 15th, 2023, 8:04 pm
wattsville_boy wrote: September 15th, 2023, 7:45 pm
The £800,000 is unlikely to be the figure that the club is losing every year. I believe that figure will include the severance package for Flynn and possibly many of his failed signings and a drastic reduction in income caused by COVID restrictions.
We don't know though do we? And that we don't know is part of the problem. But let's look at what we do know.
Throughout 2022 the board minutes reported that finanancially we were on target, indeed slightly ahead of target. (And if anyone wants to complain that I constantly repeated that if we didn't know what the target was that in and of itself told us nothing then tough).
Then in March 2023. Gavin Foxall and Kevin Ward resign.
Then in May 2023 Peter Madigan states in the Argus that we 'Have no debts as such'.
And in July the club say the current Trust model is unsustainable.
The mutilated body of our club lies on the floor. The dagger dripping blood is in the hands of the grinning twisted and evil Jack D. Ripper. Jack then decides to go no comment.
But we didn't see Jack actually do it, so maybe Jack's innocent. Sometimes I despair.
And of course you miss out covid, and you miss out the fact that the accounts passed through a number of professionals who were advising the board, which of course efects the first section, but you choose to ignore as the actual facts dont suit.........
Gavin Foxall resigned due to ill health and Kevin Ward was promoted into a job which conflicts with his unpaid voluntary role with NCAFC. He therefore resigned the day after his promotion, but of course you don't do substantiation do you, so others have to help you with the actual facts...........
The end of your message is complete fantasy as usual.
Citing COVID and the fact accountants and auditors checked and cocked up our accounts isn't substantiation either though. You're offering up potential reasons as to why we may have lost money. None of us are any the wiser as to what has actually gone on. All we know is, we went from having cash in the bank and being ahead of target to having not much in the bank and being unsustainable.
Whatever the reasons were, and you may be right, we simply don't know. And the sceptics among us are suggesting that the direction of travel where the takeover is concerned is being manipulated to ensure we never do know.
We have been becoming more unsustainable as time has gone on this is due to the change at the majority of our opposition league teams that have parent companies meeting their losses, similar to RP and the WRU parent. As a club we had been using the cup money £1.2 million since 2019/2020 at roughly £400k a year (running a budget deficit) it didn't creep up on us, it was a policy decision to back the manager who was successful in cup competitions.
Covid didn't help, and obviously taking on players such as Dom Telford to replace Padriag Amond, are gambles. Some work out, some don't, but their wages are spread over several seasons, affecting several years budgets. If you gamble on a longer contract you may be able to sell, but it commits money to budgets that we can't guarantee, so is problematic to sustainability.
The accounts **** up happend when covid didn't allow for accurate income forecasts. **** ups happen, that's life......
We still had cash in the bank, and that would mask that income figures had been wrongly forcast as being ahead of target, because the target was clearly wrong.
If the trust subscriptions cannot provide what the opposition are spending we become uncompetitive over a period of time. We probably hoped for further cup success, or selling a player like Don Telford, or winning a playoff final, to boost the bank account.
None of these things happened, and thus if the club has someone like Jon Pratt making noises, then why not see what he could offer, particularly when the trust were already under pressure due to the fan base voting to look at hybrid investment. IMO investment isn't going to be forthcoming, if those bidding they know they have to pay millions just to take control of the clubs bank account.
It appears to me that they have allowed Jon Pratt and Huw Jenkins access to how the club operates, to see if more than one bidder would raise the stakes.
Wether that has happened, or they joined forces to bid lower, I agree we may never know. However that is the nature of these things, a number of planets have to align, and even the completion of the sale of RP could be a factor.
We fans probably will never know all the actual factors involved, and like me can only make a considered guess.........