javeajag

So lawless set to leave freeing up spaces for one or two to come in, interesting wage ! stanway staying we have agreed terms with Eseosa Sule from west brom and are checking with the sea around playing for 2 clubs .…. cpuld be interesting couple of days

Absolutely not …. we have way overspent without focussing at all on raising revenue

Once we have sorted out the extremely difficult issue of not spending money we don’t have ….. we need to get focussed on raising revenue that is the best way forward !

Clearly it was not meant literally …….uts both a failure of financial management and corporate governance. As well as being pretty basic stuff.

That’s alright then

It’s clear that the trustees let things slide that they should have not ignored. this is not complicated …. Here ptfc board are the parameters in which we the owners want you to run the club, do that all is well , don’t do that bad things happen. management run businesses on behalf of the owners it would also appear that spending authorisations need to be put in place.

This will clearly be an issue at the AGM

No it’s not really. In any small business one thing you can control is costs and a good rule of thumb is that you clearly watch every pound that goes out the door. So that means we need to be very clear on what our non football/playing squad costs are. A review of this was actually promised at the least agm and the board actually spent more !! you could also cap players wages at say 60% of revenue and then allocate the 40% on non playing costs. we currently have seven people on a finance working group for a business with a turnover of £3-4m……that’s hilarious. what we should be focussing is how to increase revenue and all the bold claims made at the last agm turned out to - as claims of revenue often are - be a load of rubbish and revenue has been very disappointing. getting 6 people looking at revenue generation and one counting the money would be the right mix.

Sometimes more is well just less …. most of us understood tranche 2 had three basic elements - ground repairs etc - cash flow injection - £300k into a cash flow buffer and that it would put the clubs finances on a solid basis. it seems this was all an illusion or maybe simple deception ? i don’t remember legal guarantees been mentioned to the ordinary fan in this process just that the club would operate with a £300k buffer … well clearly that didn’t last much after approval. to quote the sex pistols …. No one is innocent

It’s fairly clear that the club is not being well run and that the relationship betweenTJF and the club board has not been effective. there is a reasonable deduction to be made that the statements made around the second tranche investment were knowingly false which is an extremely serious matter unless you accept no one on the board at that time understood the clubs finances. it is clearly time to put in place unambiguous instructions to the board on an ‘abide or your out basis’ on the clubs financial operating practices and the monitoring of actual financial practice needs to be put in place. we should also mandate the board to produce our accounts within 3 months of year end, this is a small business and the length of time it takes to produce the accounts is ridiculous. finally, a serious question …… who is actually running the club ?

It’s both.

And day to day decisions is not held by us.

The owners of the club need to accept that they were part of this shambles or explain why it was allowed to happen. Either way it’s not good enough,

It’s not complicated….the club is not being run responsibly

An utter shambles set of accounts……an absolute disgrace, not only did we not meet the financial objectives set we made them worse ! Only covered up by some lucky fixtures. who thinks there is some sugar daddy in the background going to bail us out as we rack up losses year after year? No one. this is a £3-4m business and all you have to do is spend £3-4m …..how hard is that ! Well very hard apparently. No wonder the chairman bailed. this cannot go on.