Government white paper (2 Viewers)

[robbiekeane]

Being self sustainable is fine and right. I don't hate them for that. I do hate them for the years of lies and false dawns and twice moving us away from our City. The problem is here that they're not the only wankers in our scenario and the Council, Wasps and EFL are also a waste of time.

With regards funding unless we get some dodgy oil money, we may as well stick with what we've got as I don't see a queue of wealthy backers looking to take over.

Yes they are wankers I’m not defending them at all.
But the double standards is ridiculous…people frothing at the mouth screaming “iNvEsTmEnT!!!” and talking about fit and proper tests….it’s bullshit because we don’t want investment at all because that would imply a return at some point. We want a sugar daddy and the fit and proper/financial governance and increased scrutiny would hinder that.

The turkeys are voting for christmas

 

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[chiefdave]

Yes they are wankers I’m not defending them at all.
But the double standards is ridiculous…people frothing at the mouth screaming “iNvEsTmEnT!!!” and talking about fit and proper tests….it’s bullshit because we don’t want investment at all because that would imply a return at some point. We want a sugar daddy and the fit and proper/financial governance and increased scrutiny would hinder that.

The turkeys are voting for christmas

Portsmouth was the mind blowing one for me. They'd been into administration a stupid number of times and come very close to ceasing to exist.

Supporters handed over huge amounts of money to save the club, the business plan allowed significant losses the first few years of 'fan ownership' which was really a handful of people using fans money. Yet it wasn't long before there were demands to start spending and they sold up at the first sign of someone with money.

 

[oldskyblue58]

Not sure the issues are really being dealt with. the real issue is the sustainability of the clubs not whether fans get a seat on the board

I do think more meaningful involvement with the supporters is important. Not a tick box exercise, and certainly more than the talking shop that most clubs including CCFC provide and call fans involvement.

Just a few of the things I would have liked to have seen are the following

- a fans veto on, change of name, change of stadium, change of team colours or crest

- the complete ban on owners putting loans in to clubs and certainly interest bearing ones. If they wont ban loans then loans can not be secured on any club assets whether in the trading entity or some other part of the group

- Not against owners putting funds in to fund the clubs but it should be by gift or non redeemable share capital. Most owners wont get their money back so it really isnt as big an ask as it may seem. But funds in that manner doesn't create debt, or interest burdens (so wont increase club losses) but does allow owners to massage egos for promotion pushes. Also removes need for owners to take security over club assets to put the funds in

- one caveat to that is emergency small loans to pay HMRC, loans to be structured for repayment no longer than 24 months and unsecured

- they need to deal with the notion that it is ok to accumulate millions in losses. It isnt so to be really serious the authorities need to lower the loss accumulator not raise it. Drive sustainability not accept hardship and financial failure as inevitable

- Clubs should in any 3 year period be as a minimum cash flow neutral. That way clubs start to pay their way out of what they earn and is to my mind a better key indicator than accumulated losses. Its lack of cashflow that kills clubs not the losses

- Directors & controlling shareholders should do annual course in football finance and be barred if they dont or if they dont pass it until they do. Kind of a football owners CPD. Enhanced fit & proper should be an annual thing for directors and owners, by either online or face to face testing so they can demonstrate understanding and compliance

- any fan representative needs to do those fit & proper tests/courses too.

- Filing date for publication of a clubs financials should be within 4 to 6 months of the 31st May. That way creditors, fans etc can get a better idea as to the risk at their club much sooner

- There has to be a better way than the current parachute payments, not really come up with the ideas though yet. Perhaps a requirement to put a proportion of promotion based monies on deposit to contribute to costs on relegation?

- But equally the football creditors rule is a joke that needs to be removed - that might clarify a few minds at clubs but also the authorities. HMRC now a days has to be paid at least some of their debt but what about the smaller creditors ?

- all clubs to pay an annual levy of say 0.5% of turnover to pay for proper, timely and independent monitoring & regulation. Set up a new body not use the big boy accountants or the current authorities to do it. Be prepared to pay for quality and enough people

Deal with the the heritage and financial problems and the need for fans involvement day to day becomes much less - that's not saying they should not be properly represented at every club but it has to be meaningful & transparent


Just a few thoughts. I have no faith in much changing that actually makes a real difference though

 

[oldskyblue58]

I dont think the average supporter is bothered about a seat on the board, but they do as a body want to be listened to, be respected and be useful .

They want to know that their club is in safe hands of people who know what they are doing and can demonstrate that they do.

They want to know that the clubs assets especially the community heritage ones are in safe hands and cannot be risked or played fast n loose with

They want to know that the clubs are properly, independently monitored, and that such monitoring has teeth & consequences if things are not right. That such monitoring to be timely, transparent and communicated publicly (eg like an OFSTED visit for schools)

wont hold my breath on any of that happening across all clubs

 

[FulltimeWum]

Pay the parachute payments. But stagger them over 5 years. So clubs still have to plan appropriately. If they need any of the money, it's there. Give it them. Point deduction for each cache of money given early.

Also fine clubs who use the term "limbs" on social media.

 

[ccfctommy]

On twitter he started replying to me by my real name. I did point out it’s the most investigative journalism in his life but the fact he was told who I was by some sad loner living at 359 Alderman’s Green road wasn’t exactly Roger Cook style of journalism

CJ started stalking me on LinkedIn as he claimed he thought I build work for him teaching dance to primary school children

Pathetic just man up and say they think I’m a wanker

Party at Grendel's