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Post by unknownquantity on May 15, 2018 19:15:40 GMT
What I do not quite understand is Stewart's comments about the increased turnover making the club not only self sufficient, but being in itself enough fcr us to have one of the top six budgets in the division.
I would have thought that this additional money raised would have overheads attached to it and even then the figures suggest that this additional money is no greater than the money Stewart Donald has put in on an annual basis.
If as has been suggested money is in place for this season then the current directors will either have to fund next season or find other people to do so.
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Post by spitfiresteve on May 15, 2018 19:24:12 GMT
Good luck to the consortium who are taking charge, We are in the national league , we have a good ground, We have good facilities to use and with AH in charge a decent manager, when that changes is maybe when people should start being negative , until then let’s be positive about all the good points , actually there is a negative , the burgers are poor! The wraps are good though 🌯
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Post by tenacres on May 15, 2018 20:25:21 GMT
£37k of losses per week in the last set of accounts.. almost £2m a year...and that was with SD at the helm and he could buffer it. The club is going to hit the wall on those figures... not good is it because not many people can chuck money at bad business dealings. You look how Farnborough dealt with their creditors 1p in the £ then reformed as a new company...we all said that was disgraceful...the law allows you to do it...Losing £37k a week people..take those rose tinted glasses off and think about it. I believe that is in the period from 1 June 2016 - May 31 2017, which was when the new facility behind the goal was built, which IIRC cost around £1.8M so take that out the equation and you are pretty much breaking even. During this period our tangible assets are also listed on the balance sheet as going up from £1.17M to £3.46M which again presumably reflects the value added by the new building (Sherwoods).
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Post by tenacres on May 15, 2018 20:45:54 GMT
Totally agree about having a meeting with the new owners. That would be informative for fans and could be beneficial for the new owners too. Be good to start things off on the right foot.
Agree with a lot of what is being said about ownership of the football club. Just bringing in an unknown person with lots of money (or even claims to have lots of money!) can quite easily go spectacularly wrong.
Put simply the business of Eastleigh FC is about 2 things:
1) Income - Has obviously risen significantly in the last few years, partly down to direct funding from SD. We look to have a decent base of "sustainable" funding with turnover around £2.5M. Still think there is room for growth in some areas such as a) online (EFC still doesn't have an online shop & I also think our ticketing website is fairly basic, season tickets not on sale online!) and also Sherwood's which is a fantastic facility and doesn't appear to have realised its potential yet.
2) Expenditure - Hasn't been managed as well as it could have been in the last couple of years, both on and off the pitch. Definite room for improvement!
Long term I have no doubt that managed reasonably we should be fine at this level and if managed well we'd have a decent chance of making league 2.
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Post by huricaneharry on May 16, 2018 7:14:44 GMT
£37k of losses per week in the last set of accounts.. almost £2m a year...and that was with SD at the helm and he could buffer it. The club is going to hit the wall on those figures... not good is it because not many people can chuck money at bad business dealings. You look how Farnborough dealt with their creditors 1p in the £ then reformed as a new company...we all said that was disgraceful...the law allows you to do it...Losing £37k a week people..take those rose tinted glasses off and think about it. I believe that is in the period from 1 June 2016 - May 31 2017, which was when the new facility behind the goal was built, which IIRC cost around £1.8M so take that out the equation and you are pretty much breaking even. During this period our tangible assets are also listed on the balance sheet as going up from £1.17M to £3.46M which again presumably reflects the value added by the new building (Sherwoods).So are you are telling us that the new building/restaurant is bringing in £2.3m and this will be the basis of the club being in a break even position year on year? Having been a frequent customer of Sherwoods I would suggest that it in itself would struggle to break even. The new board will need to make cuts and I would suggest they look very closely at the added value that the DoF brings to the club, which in my opinion is very little. The cost of a good player.
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Post by stew5018 on May 16, 2018 7:33:48 GMT
Thats not at all what he is saying. He is referring to tangible assetts not that the new building will bring in £2.3m a year
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Post by huricaneharry on May 16, 2018 12:30:13 GMT
Thats not at all what he is saying. He is referring to tangible assetts not that the new building will bring in £2.3m a year So who will own the ground and therefore benefit from the income that THE GROUND brings in, the club or the previous owner?
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Post by stew5018 on May 16, 2018 13:30:59 GMT
Until the sale goes through those questions can't be answered. Just needs a bit of patience. The deal hasn't been approved yet. Then ask away!!!!! But at end of day how it is is how it is. WE don't own Club.
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Post by huricaneharry on May 16, 2018 13:55:59 GMT
Until the sale goes through those questions can't be answered. Just needs a bit of patience. The deal hasn't been approved yet. Then ask away!!!!! But at end of day how it is is how it is. WE don't own Club. Stew5018, you are correct in what you say “WE” don’t own the club and “WE” don’t own the ground, it is also correct to say that Eastleigh FC don’t “own” the ground. It is also correct to state that without the income generated from the ground and it’s outlets, the club will not be a viable investment. Taking this into account, how long do you believe the club can survive at its current level without additional income, 1-2 seasons?
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Post by stew5018 on May 16, 2018 15:40:57 GMT
Hurricane I have no idea but I shall be very interested when you get the answere WHEN any deal goes through.As I have stated numerous times there's no point in asking the questions until we are told what deal has been made and what the new owners say. I have never said you are wrong to ask the questions--only that there are no answers at this time. I to am concerned and frustrated simply because there is no information at this time- but I do understand that there can't be until any deal has been ratified. It would be unethical and downright stupid business wise to answer any questions or disclose the terms of the sale until it has gone through.Clearly we both care deeply about the Club and ultimately we want the same thing. Our only difference is you want the answers now-and I accept i will have to wait a while.
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Post by huricaneharry on May 16, 2018 16:40:40 GMT
Hurricane I have no idea but I shall be very interested when you get the answere WHEN any deal goes through.As I have stated numerous times there's no point in asking the questions until we are told what deal has been made and what the new owners say. I have never said you are wrong to ask the questions--only that there are no answers at this time. I to am concerned and frustrated simply because there is no information at this time- but I do understand that there can't be until any deal has been ratified. It would be unethical and downright stupid business wise to answer any questions or disclose the terms of the sale until it has gone through.Clearly we both care deeply about the Club and ultimately we want the same thing. Our only difference is you want the answers now-and I accept i will have to wait a while. As the sale of the club has been agreed and the purchase of the other club agreed with details, I’m sure that the answers to some of the questions could be given now so that we the fans are given some security. It’s obvious to most that Eastleigh will be sold come what may. Then again maybe the fit and proper test could throw a spanner in the works.
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Post by michaelefc on May 16, 2018 17:57:30 GMT
The key word is patience. All we know at the moment is that if ratified by the authorities, the club is going to be placed in the hands of a bunch of long term Eastleigh fans. The ones I know are honest decent people who I am certain will do the best for the club. Once things have been ratified which could take a few days, possibly a few weeks, I am sure they will make their ambitions for the club known and I would hope we could meet for a Q+A session. We are currently mid May so no need to be panicking. Should nothing have been clarified by July THEN is the time to start panicking. For now enjoy the weather and follow the cricket.
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Post by unknownquantity on May 19, 2018 6:29:00 GMT
I think that it is difficult at this stage what will be in place for next season and subsequent years, although indications are that money is in place for 2018/19. What can be factually observed though is
1) Some members of the current board were at the club when we were struggling financially in the Conference South despite good income from use of the car park.
2) In the majority of recent seasons we have won more games than we have lost. When this is not the case the number of people attending games drops and I would say we have more fair weather supporters than most clubs at our level.
3) Usually when money is tight having a good youth policy and increased financial contributions from fans can alleviate matters. However I think that the current policy is to minimise the amount fans pay, and I would not say that we have the greatest youth policy in the world.
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Post by michaelefc on May 19, 2018 7:12:04 GMT
It will still be another month minimum, before we get a clearer picture of where EFC is heading. Within that time the new owners need to make a clear statement setting out:
1) The aim for next season 2) The aim for the next few years. And 3) they need to arrange a meeting with supporters so we can have a chat and start to realise our dreams together.
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Post by Deleted on May 19, 2018 7:49:12 GMT
I struggle to see how an outgoing owner can lay down terms to the new owners. OK he's giving the club away for a £1 (There has to be a sale officially) but to say for three further seasons there will be low season ticket prices and cheap coach travel without knowing what the future actually holds for the club is plain daft. I'll keep saying it, if the team is not successful on the field everything will start to fall down, sponsors drifting away, revenue falling with less fans turning up...and the board have to keep low ticket prices and coach travel through it!!!!! Will they have to go and borrow from the bank because they won't be able to increase prices...or will they make cuts? Go part time perhaps? The board are having their hands tied, it'll be alright if the team is successful, but that's not a given, you have to consider the flip side and how it may impact on the board. I'm told the cost to complete the blue stand is in the region of £700k, I don't think it will ever be completed unless the club get to the football league. We'll miss SD, absolutely no doubt about that.
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