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Old 13th March 2020, 12.35:07   #4-0 (permalink)
Haruki
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Joined: Jun 2011
Racecourse Spot: Mold Road
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Default Re: Club Financial Statements

So last season we spent an extra £400k on football? That will cover payoff of staff and extra players brought in firstly by Barrow and secondly by Hughes. We had a staggering amount of players at the end of last season, some weeks there were a vast number of players, particularly strikers sat in the stands costing us money.
That £400k didn't get us promoted, it mostly came about due to the mismanagement of the board, their poor decision making in appointing Graham Barrow after he had already stated he didn't want the job, was in the later years of his career and hadn't held a managerial role for over a decade. Barrow and his choice of players then Hughes and his additional players was an expensive chain of events caused by poor decision making.
All of the Ward money receipted last year and gate receipts from last seasons big crowds is gone, bank balance is exactly as it was in 2018

The accounts also show a debtor of £900k mostly being the unpaid element of Danny Ward money owed from Liverpool. However since then we have been told of
-upgrade to CCTV
-chunk earmarked for Groves
-£200k budget increase given to Hughes
-payoffs to Hughes and Flynn
-additional budget spent by Keates
-gate receipts significantly down this season
I would say it is safe to assume that the Ward money is gone, wasted by mismanagement of our club board.

A once in a lifetime injection of cash hasn't got us promoted it instead sees us close to relegation into regional football.

This board have been lucky, they have had a constant stream of football fortune from player sales, transfer add ons, fortunate cup draws etc. This football fortune has come and gone and hasn't got us promoted, we are close to relegation. The football fortune has propped up and disguised boardroom mismanagement and I feel sick at how we have wasted this Danny Ward money

As a fan base, as the owners of the club we simply have to enforce change in the boardroom and implement a structure and personnel suitable to stop this mismanagement.