New CEO

[Todd Sweeney]

Originally Posted by Back of the Kop

Yes it was wasted by the WST. It won't be wasted by a professional CEO reporting directly to R&R

I'm not sure calling it wasted is fair. There can't be many other teams outside the Premier League during the current pandemic that are debt free with cash in the bank.

I think financially we have been run really well. The problem has always been that as a fan owned club we have to balance the books, and in the National League there is no financial fair play, and very little TV income. This meant that it was always hard to compete against bankrolled teams, or teams who were able to run up large debts.

I've said before that our model would have been more successful in the EFL, with financial fair play and close to £1m in TV money annually in League 2 - more in the leagues above. Water under the bridge now...

[Back of the Kop]

Originally Posted by Todd Sweeney

I'm not sure calling it wasted is fair. There can't be many other teams outside the Premier League during the current pandemic that are debt free with cash in the bank.

I think financially we have been run really well. The problem has always been that as a fan owned club we have to balance the books, and in the National League there is no financial fair play, and very little TV income. This meant that it was always hard to compete against bankrolled teams, or teams who were able to run up large debts.

I've said before that our model would have been more successful in the EFL, with financial fair play and close to £1m in TV money annually in League 2 - more in the leagues above. Water under the bridge now...

If you don't think it was wasted, what did you see for the circa £1.5m Ward cash ?

Please bare in mind, if it wasn't for Covid we would likely have been relegated last season

[Todd Sweeney]

Originally Posted by Back of the Kop

If you don't think it was wasted, what did you see for the circa £1.5m Ward cash ?

Please bare in mind, if it wasn't for Covid we would likely have been relegated last season

I don't think we would have been relegated.

If we'd spent whatever sum we got for Ward unwisely we may have been bankrupt already, given Covid.

You can probably say that under fan ownership we were always too prudent - e.g. using the money we got from transfer fees from the likes of Obeng onwards to pay off debt rather than take a gamble. However, that's because the primary aim under trust ownership has always been to safeguard the long-term future of the club. And this has paid off during this pandemic.

[GiggityGiggityGiggityGoo]

Originally Posted by Todd Sweeney

I don't think we would have been relegated.

If we'd spent whatever sum we got for Ward unwisely we may have been bankrupt already, given Covid.

You can probably say that under fan ownership we were always too prudent - e.g. using the money we got from transfer fees from the likes of Obeng onwards to pay off debt rather than take a gamble. However, that's because the primary aim under trust ownership has always been to safeguard the long-term future of the club. And this has paid off during this pandemic.

So why did the trust project to run out of cash mid season?

Why did they sign players up, when they knew refunds needed issuing?

Why did they think fans would be back in the ground in January, given we were all told a 2nd spike was very likely in the Winter?

I wouldn't call that 'prudent' at all.

[Todd Sweeney]

Originally Posted by GiggityGiggityGiggityGoo

So why did the trust project to run out of cash mid season?

Why did they sign players up, when they knew refunds needed issuing?

Why did they think fans would be back in the ground in January, given we were all told a 2nd spike was very likely in the Winter?

I wouldn't call that 'prudent' at all.

Covid.

[GiggityGiggityGiggityGoo]

Originally Posted by Todd Sweeney

Covid.

That's no excuse for a instution that we were always told would look to cut it's cloth accordingly, even if it meant drastic measures like going semi pro.

Care to explain the loans that were allegedly being signed off with nobodies knowledge?

Again thats not 'prudent'.

[Todd Sweeney]

Originally Posted by GiggityGiggityGiggityGoo

That's no excuse for a instution that we were always told would look to cut it's cloth accordingly, even if it meant drastic measures like going semi pro.

Can you name one other club in our league which is debt free and still has cash in the bank despite the pandemic?

I get the complaints about lack of success on the pitch of course. But I think our financial management has been great and is a big part of the reason we were attractive to R&R.

[Whitey]

Honestly can't believe you lot are still arguing with each other!

All forums have different opinions but for gods sake it's like you've just won the lottery, enjoy it!

[Funny_Old_Game]

Originally Posted by Todd Sweeney

Covid.

Haha these lines are still being spun, can you believe it. Club had squandered £1.8m long before this hit in case you didn’t notice.

COVID saved this club in fact, we’d have been relegated otherwise.
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