That's simply laughable ..............Amberexile wrote: November 10th, 2023, 7:52 pmIf they were management decisions, they were management decisions that bailed out the club.Bangitintrnet wrote: November 10th, 2023, 12:12 pmBoth were management decisions........Amberexile wrote: November 10th, 2023, 11:57 amI agree we were bailed out initially by transfers and later by cup runs and without both of which we'd be right in the shite.Bangitintrnet wrote: November 10th, 2023, 10:29 amIn the 2016 accounts is a note relating to profit and lossAmberexile wrote: November 10th, 2023, 9:19 amWe were in debt. The cup money was more than the debt. It bailed us out of that debt and gave us a surplus to cover future losses.Bangitintrnet wrote: November 9th, 2023, 7:22 pmIf you believe that the club shouldn't ever run a deficit by the end of the season, as you seem to do, then we would be playing non league football.Amberexile wrote: November 9th, 2023, 6:39 pmLots of words that equate to the cup runs bailed out the clubBangitintrnet wrote: November 9th, 2023, 2:26 pmLet's put it this way, the directors of the club realised that the club could not go up automatically, as we didn't have the finances to compete. Flynn had shown that he could run the team in a way that might not be successful over a full season, but over 10 games could treat each as a cup game.Amberexile wrote: November 9th, 2023, 1:29 pmWhether that is true or not, it still says that the finances were bailed out by the cup runs. You may remember us having a negative balance sheet in each of 2016, 2017 and 2018 which then needed bailing out. The cup runs did that and more before who knows what happened in 2022 because nobody has been able to or willing to tell us.Bangitintrnet wrote: November 7th, 2023, 4:57 pm
It's a choice that the trust made to try and get more income. Now, today, its an enforced change, due to the other clubs spending ability. If you choose to do something to build up cash, it's simply a management decision.
The key thing is that the owners made the decision for the trust, when it was evident that there would be a structural deficit at the end of the season that couldn't be met. It was not the case that existing debt was the driver as has been continually suggested. The proof is in the fact we are not in court battling for survival, a full six months on from those telling us that the club were liars, and we were in debt.
Now I know you don't think that Padraig Amond signed late in the window due to co opted directors underwriting his contract, but to me that was the gamble that the club had to take. It was a management policy decision and they left everything up to Flynn.
Obviously that worked very successfully to start with, but hit the buffers in Covid. We know we lost money as did all clubs, but what we didn't have, that other clubs have, is backers that will absorb losses. Its clear that those losses happened before the 2022 accounts, but weren't shown. As the accounts passed through a number of professionals, that is more **** up than anything else.
There is no beneficiary in these situations, so blaming serves no purpose. The simple fact is that by gambling on a cup mentality that the club needed to progress via the playoffs, brought with it cup success and money. That's a change in management style that delivered, and then ultimately failed to deliver and replace the rapidly dwindling pot.
When GC states in the Argus that he doesn't have a strong enough squad to compete in the league and the cup, you understand why. He is stating the clubs priority is purely the league, and we all understand why.
If we were in substantial debt before the cup runs then we wouldn't have made any money, as then the cup money would have paid off the debt. That is bailing out, but we made lots of money, simple as.....................
2014-15 operating loss of £677k
2015-16 operating profit of £340k
The reason for the £1million turnaround was the sale of Regan Poole and Aaron Collins and sell on fees related to Connor Washington's transfer to QPR. That exceptional windfall income totalled £723k, so greater that our opperating loss the previous year.
It was management policy set up by the Les Scadding board which was the basis of the trust run clubs sustainability. It was the former Academy Manager Flynn, who decided that the supply of talent was not going to sustain the club, and then given free reign for a different approach.
Your appraisal of management decisions is probably why I don't think that the trust can step up to the plate when HJ moves on, or be equal partners...........
As HJ himself said, "I know Newport in general is known for its negativity, I believe I can change that"