Wouldn't paying up unwanted players and managers contracts adversely contributed to the debt something that will not be repeated and doesn't it show the commitment of the owners.
No wonder they were trying to squeeze Colchester's bloodrock. Really though, there have been several one-off outlays, and the marketing has been depleted e.g. no-one buying the naming rights for the ground. I'm hoping this is about teething troubles while adapting to the UK, but seems like a bloody expensive dentist,
Having watched the whole of the videod meeting I could see nothing to be negative about, Preston and Tom answered all the questions fully and honestly.When Preston mentioned watching his last match and not being at the club in a few months time this was obviously a reference to the changing the directors clause and for one I think we would be mad not to intrust the clubs future in them.
As you say in your other post above, Wagmi have committed a lot of money and loans to the club, which is the majority of the loans on the accounts. My feeling from watching the video is Preston (and Eben?) would like to continue if they get support at the directors' vote. Unless there is a supportable challenge from one of the other shareholders of Wagmi, to me they are worth another shot, as things have improved this year.
Having watched the whole of the videod meeting I could see nothing to be negative about, Preston and Tom answered all the questions fully and honestly.When Preston mentioned watching his last match and not being at the club in a few months time this was obviously a reference to the changing the directors clause and for one I think we would be mad not to intrust the clubs future in them.
As you say in your other post above, Wagmi have committed a lot of money and loans to the club, which is the majority of the loans on the accounts. My feeling from watching the video is Preston (and Eben?) would like to continue if they get support at the directors' vote. Unless there is a supportable challenge from one of the other shareholders of Wagmi, to me they are worth another shot, as things have improved this year.
This is where I am right now as well.
After being shocked at the revelation of the 4 million, I’ve been happier since reading some good posts on here from folks who clearly understand finance a whole lot more than I do.
Also I think there’s a level of humility coming out of Preston on that video that was a pleasant surprise and I think he’s also trying to show that he isn’t presuming he’ll receive the support of fans when and if any vote for them to continue takes place.
I’m not in the mood for imminent regime change and I’m happy for them to continue this journey and see where they take the club going forward, especially in the absence of any credible alternative on the horizon.
MY NOTES (not everything is here but arguably bulk of):
Looking at pop-up club shop, movement not immediate & dependent upon demand. Recently 100% increase on shirt sales. PJ spoke about a 'maths' data that sourced non-league players that fitted the model they want etc. This summer PJ says we have Betsy players coming off the books and more space to add others etc. PJ says he's helped with ticket prices, attendances, merchandise sales all improved/up (obviously ticket prices down). Hope if makes sense PJ says to sign a non-contract free player.
We are at a stage of fine and points deduction if flares thrown. Confirmed latest flare thrown from outside ground and the club believe they've identified 2 individuals responsible. Tom suggested bar opens/shuts re demand and event post-match could impact shutting post match. Club in conversation trying extend lease and investigating trying to buy the ground. PJ says that ownership gives better licence to improve stands e.g. East Stand.
Away ticket sales online looking at but issue Tom says is postage, can look at ticketing here. PJ says few times we are trying to push for promotion and so dont want sell impact players. 2 deals for strikers to bring in on deadline day fell through. Take a note Crawley57 even PJ recognised Lolos can play up front! PJ is asked given the abuse on the club forum and social media does he regret buying the club? Short answer was no!
Around 26mins looks like PJ about to burst into tears. Either he is a dam good actor or he is showing he cares about the club even if mistakes early on were made (and is is taking ownership). Jed Brown here until end of season previous notice was communicated wrongly. WAGMI accounts not related to football club and PJ says nothing to worry about. Club solvency asked, PJ says not here to talk about his bank account. PJ says on that matter “we are not Wrexham”. Gladwin back running training soon and we should see him before end of the season. Cost of away travel with fuel doubled, request from floor for any financial assistance. PJ aware some issues because of electricity costs etc., PJ says perhaps can get sponsor for away travel. PJ says easier to put in place in summer for next season.
Floor questions raises concern for the purchase of the ground i.e. to bump up a sale, could ground be used for other purposes etc. PJ replies he has clubs best interested in mind. CTSA want restricted convenance whereby only the club can own the land if the stadium is bought by the owners. CTSA spokesperson also spoke about this could attract investment in longer term into club.
Fvck sake a mic that doesn’t work and a whisper question is no use listening back! Need subtitles especially when questions waffle on. Tom is effectively the interim CEO says PJ. My personal thought Tom is ok why not keep him – comes across very well in fact.
PJ say he had a panic attack an hour before the Hartlepool game and was nervous for 3 points. PJ says “I love you guys and I love the club”
As you say in your other post above, Wagmi have committed a lot of money and loans to the club, which is the majority of the loans on the accounts. My feeling from watching the video is Preston (and Eben?) would like to continue if they get support at the directors' vote. Unless there is a supportable challenge from one of the other shareholders of Wagmi, to me they are worth another shot, as things have improved this year.
This is where I am right now as well.
After being shocked at the revelation of the 4 million, I’ve been happier since reading some good posts on here from folks who clearly understand finance a whole lot more than I do.
Also I think there’s a level of humility coming out of Preston on that video that was a pleasant surprise and I think he’s also trying to show that he isn’t presuming he’ll receive the support of fans when and if any vote for them to continue takes place.
I’m not in the mood for imminent regime change and I’m happy for them to continue this journey and see where they take the club going forward, especially in the absence of any credible alternative on the horizon.
Yes I think Preston has showed up in favourable terms looked genuine and looked like he really does care about the club. Overall I think the forum was a positive thing although the references for pushing for promotion had I been there I would've asked what tangibly have we achieved to reach that goal as form has dipped and we haven't really strengthened the squad much (no disrespect to players coming in intended) overall.
I have never met Preston or any of the board but having watched the video was very impressed with his openness and hope we will be able to carry on working together to get the success we all want
Not wishing to go off track but one of the meetings moans was the lack of recruitment during the transfer window but watching the game on Tuesday, for a first time appearance the new Kelly looked a real find I didn't see enough of the defender to form an opinion.
One further point on the accounts - they confirm that the loans from Wagmi are interest free, so there is no accumulating debt from the investors, which is very helpful (indeed!).
MY NOTES (not everything is here but arguably bulk of):
Looking at pop-up club shop, movement not immediate & dependent upon demand. Recently 100% increase on shirt sales. PJ spoke about a 'maths' data that sourced non-league players that fitted the model they want etc. This summer PJ says we have Betsy players coming off the books and more space to add others etc. PJ says he's helped with ticket prices, attendances, merchandise sales all improved/up (obviously ticket prices down). Hope if makes sense PJ says to sign a non-contract free player.
We are at a stage of fine and points deduction if flares thrown. Confirmed latest flare thrown from outside ground and the club believe they've identified 2 individuals responsible. Tom suggested bar opens/shuts re demand and event post-match could impact shutting post match. Club in conversation trying extend lease and investigating trying to buy the ground. PJ says that ownership gives better licence to improve stands e.g. East Stand.
Away ticket sales online looking at but issue Tom says is postage, can look at ticketing here. PJ says few times we are trying to push for promotion and so dont want sell impact players. 2 deals for strikers to bring in on deadline day fell through. Take a note Crawley57 even PJ recognised Lolos can play up front! PJ is asked given the abuse on the club forum and social media does he regret buying the club? Short answer was no!
Around 26mins looks like PJ about to burst into tears. Either he is a dam good actor or he is showing he cares about the club even if mistakes early on were made (and is is taking ownership). Jed Brown here until end of season previous notice was communicated wrongly. WAGMI accounts not related to football club and PJ says nothing to worry about. Club solvency asked, PJ says not here to talk about his bank account. PJ says on that matter “we are not Wrexham”. Gladwin back running training soon and we should see him before end of the season. Cost of away travel with fuel doubled, request from floor for any financial assistance. PJ aware some issues because of electricity costs etc., PJ says perhaps can get sponsor for away travel. PJ says easier to put in place in summer for next season.
Floor questions raises concern for the purchase of the ground i.e. to bump up a sale, could ground be used for other purposes etc. PJ replies he has clubs best interested in mind. CTSA want restricted convenance whereby only the club can own the land if the stadium is bought by the owners. CTSA spokesperson also spoke about this could attract investment in longer term into club.
Fvck sake a mic that doesn’t work and a whisper question is no use listening back! Need subtitles especially when questions waffle on. Tom is effectively the interim CEO says PJ. My personal thought Tom is ok why not keep him – comes across very well in fact.
PJ say he had a panic attack an hour before the Hartlepool game and was nervous for 3 points. PJ says “I love you guys and I love the club”
To add to your note about the ground the council now want a significant fee to renew the grounds lease.
MY NOTES (not everything is here but arguably bulk of):
Looking at pop-up club shop, movement not immediate & dependent upon demand. Recently 100% increase on shirt sales. PJ spoke about a 'maths' data that sourced non-league players that fitted the model they want etc. This summer PJ says we have Betsy players coming off the books and more space to add others etc. PJ says he's helped with ticket prices, attendances, merchandise sales all improved/up (obviously ticket prices down). Hope if makes sense PJ says to sign a non-contract free player.
We are at a stage of fine and points deduction if flares thrown. Confirmed latest flare thrown from outside ground and the club believe they've identified 2 individuals responsible. Tom suggested bar opens/shuts re demand and event post-match could impact shutting post match. Club in conversation trying extend lease and investigating trying to buy the ground. PJ says that ownership gives better licence to improve stands e.g. East Stand.
Away ticket sales online looking at but issue Tom says is postage, can look at ticketing here. PJ says few times we are trying to push for promotion and so dont want sell impact players. 2 deals for strikers to bring in on deadline day fell through. Take a note Crawley57 even PJ recognised Lolos can play up front! PJ is asked given the abuse on the club forum and social media does he regret buying the club? Short answer was no!
Around 26mins looks like PJ about to burst into tears. Either he is a dam good actor or he is showing he cares about the club even if mistakes early on were made (and is is taking ownership). Jed Brown here until end of season previous notice was communicated wrongly. WAGMI accounts not related to football club and PJ says nothing to worry about. Club solvency asked, PJ says not here to talk about his bank account. PJ says on that matter “we are not Wrexham”. Gladwin back running training soon and we should see him before end of the season. Cost of away travel with fuel doubled, request from floor for any financial assistance. PJ aware some issues because of electricity costs etc., PJ says perhaps can get sponsor for away travel. PJ says easier to put in place in summer for next season.
Floor questions raises concern for the purchase of the ground i.e. to bump up a sale, could ground be used for other purposes etc. PJ replies he has clubs best interested in mind. CTSA want restricted convenance whereby only the club can own the land if the stadium is bought by the owners. CTSA spokesperson also spoke about this could attract investment in longer term into club.
Fvck sake a mic that doesn’t work and a whisper question is no use listening back! Need subtitles especially when questions waffle on. Tom is effectively the interim CEO says PJ. My personal thought Tom is ok why not keep him – comes across very well in fact.
PJ say he had a panic attack an hour before the Hartlepool game and was nervous for 3 points. PJ says “I love you guys and I love the club”
To add to your note about the ground the council now want a significant fee to renew the grounds lease.
I wonder if thats on the back of theyve heard WAGMI may get their wallet out? I really we dont end up moving to 'Milton Keynes'
A couple of questions: When does the current lease end? How much do the council want, and for how long would that extension be. I imagine we are 27 years into the current lease as we moved in 1997. I know residential flats are on a 125 year lease, but assume that commercial premises are on a different system. Councils generally dislike losing ownership of properties as leasing deals can be a source of income into the distant future, but the way council finances are (not just Crawley's), maybe some would consider selling for short-term gain at the expense of long-term income.