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1st May 2020, 14.12:25 | #1-0 (permalink) |
Due a Testimonial
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WST update on financial situation
Splitting into seperate threads "the current financial situation at the club is as follows: -WST members funds stand at £178k. -Our current outgoings as a club are around 10k per month. This includes our ongoing expenses and various other regular outgoings. -The WST has recently made a payment of £20k to the club to meet a shortfall caused by the COVID-19 crisis. -We have not yet received a payout from the government furlough programme. -A £50k payment from the National League has been received. This is a payment that we would expect to receive in the new season and has been brought forward. This sum will have to be deducted from next season budgeted income. -We are also due to make the £100k payment to Glyndwr University in September as a part of the Racecourse lease agreement. -The club currently has no income to offset these expenses. -We have no visibility on when we will be able to return to the Racecourse to generate income. The WST fundraising group is working on proposals put forward by members and we hope to be able to give further information on fundraising in the next bulletin. Obviously, these are worrying times and not just for Wrexham AFC. We will update this financial position once we have completed a review of the April management accounts as this will provide the running costs of the club. We will hopefully have further guidance from the Government on the possible lifting of the current lockdown and an update on the furlough scheme." |
1st May 2020, 15.05:49 | #2-0 (permalink) |
Due a Testimonial
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Re: WST update on financial situation
Many landlords are giving tenants rent holidays, deferred rents or cut rents - fingers crossed discussions so far have been productive on that front.
It is unclear in this info dump if furlough is accounted for etc - or what cash is in the bank. However on those figures May - Nov could eat up 70k, and 100k on the rent? IPSO Mori did a survey with sports being one thing a majority of people would not go back to normality over due to not being comfortable in crowds etc - fears of the second spike etc. |
1st May 2020, 15.10:46 | #3-0 (permalink) | |
Legend
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1st May 2020, 15.26:55 | #4-0 (permalink) | |
Printing My Own Banknotes
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Re: WST update on financial situation
I find it perplexing that the club seems so stumped on generating income ideas. I've had a brief scan through the Twitter pages of other NL clubs and found several. They include lottery schemes, holding virtual matches, donations of ticket money in lieu of lost matchday income, selling season tickets in advance, Crowdfunders and auctioning match worn shirts.
I don't particularly agree with some of the more "begging bowl" type ideas in the current climate, but if the alternative is not having a club then I'd rather see some action than none.
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1st May 2020, 15.29:10 | #6-0 (permalink) | |
Taking coaching badges
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1st May 2020, 15.32:04 | #7-0 (permalink) | |
Taking coaching badges
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