Jay Posted February 14, 2017 Report Share Posted February 14, 2017 You would expect to see a big drive to maximise this .... expect being the defining word here. Comes as no surprise when I go onto the WS website the tier benefits info has been taken down yet again with a deadline of Jan 2017 for a reworking and that update which is still blank. How can you hope to attract people when a defining part of contributing for many is unclear, not populated and you've missed your own deadline even with a full time employee to manage things. Since the launch of the WS, the benefits have been altered three times, only once bringing it to the membership in advance of change. Noted. Agree on the maximising comments too. The gesture from Les is obviously great news but the ball is now in the Well Society's court to ensure fundraising is at the highest level possible in 2017. 2 Quote Link to comment Share on other sites More sharing options...
Dezz Posted February 17, 2017 Report Share Posted February 17, 2017 Just had my regular update email from the society. We're now up to 2,068 members and this week alone they've had over £2,000 of one-off donations following the announcement that Les will match funds raised this year. Numerous existing members upped their monthly pledges too. 1 Quote Link to comment Share on other sites More sharing options...
ropy Posted February 17, 2017 Report Share Posted February 17, 2017 So is that £2k being added to a fund being saved up or does it go straight to cover the operating costs of the club? Quote Link to comment Share on other sites More sharing options...
Kmcalpin Posted February 17, 2017 Report Share Posted February 17, 2017 So is that £2k being added to a fund being saved up or does it go straight to cover the operating costs of the club? I'd imagine that it will go into a fund. However I don't know that for certain. Why not contact the Society direct and ask them and then there would be no dubiety? Quote Link to comment Share on other sites More sharing options...
Lord Tanamo Posted February 27, 2017 Report Share Posted February 27, 2017 Hope you all have good locks on your doors, keep the Bailiffs at bay when the WS goes tits up Quote Link to comment Share on other sites More sharing options...
weeyin Posted February 27, 2017 Report Share Posted February 27, 2017 Hope you all have good locks on your doors, keep the Bailiffs at bay when the WS goes tits up That's an insightful and detailed opinion. I'd be interested in your legal/financial review of the situation. Any other gems you care to share? I'm guessing you support some other team, because if the Society that owns the club disappears, so does the club. Quote Link to comment Share on other sites More sharing options...
Lord Tanamo Posted February 27, 2017 Report Share Posted February 27, 2017 That's an insightful and detailed opinion...................................... because if the Society that owns the club disappears, so does the club. Well done sir ------ you're not as daft as you look afterall Quote Link to comment Share on other sites More sharing options...
Goggles & Flippers Posted February 28, 2017 Report Share Posted February 28, 2017 Everything about your posts, description and picture screams "massive cunt" to me. Feel free to set the record straight however. 5 Quote Link to comment Share on other sites More sharing options...
Andy_P Posted April 7, 2017 Report Share Posted April 7, 2017 There was certainly cause for optimism at the club's AGM from a financial perspective. Losses to May of this year were cut considerably on the previous year, the suggestion was made that for the first time in a decade and a half or so that the club have sufficient funds to see them through until the end of the season without loans being required to help cover things and that no sales are required in the January window. Quoting myself here but having followed the link on the latest 'Well Society email to the points discussed at the last board meeting I was interested the note the remarks about £120,000 being transferred from the 'Well Society to the club. Now I've consistently backed such transfers (even if fan ownership hadn't come to fruition the very fact the WS were able to help the club in this manner made it hugely worthwhile)so I've no grumbles with the cash transfer but it is a little intruiging/bordering on the slightly concerning as to why it is required based on the remarks made in December. Perhaps the failure to reach top six? Smaller than anticipated attendances? McGhee pay off? Further restructuring of the commercial side? Interesting one. Quote Link to comment Share on other sites More sharing options...
Brazilian Posted April 7, 2017 Report Share Posted April 7, 2017 Interesting one. Makes the rest of the communication somewhat insignificant little over £10k income in a month £120k required by the club -- again .... the books are not being balanced. despite what is being reported by accounts EDIT: I should add if its just for Cashflow circumstances , I can accept that as business needs, BUT the money has to come back this time, as leaving society with no funds is not acceptable - that money has to be ringfenced for security not used to cover runnning costs Quote Link to comment Share on other sites More sharing options...
Lobey_Dosser Posted April 7, 2017 Report Share Posted April 7, 2017 Am I reading the finances section correct? £124k in the bank with £120k on its way to the club? Quote Link to comment Share on other sites More sharing options...
Donaldo87 Posted April 7, 2017 Report Share Posted April 7, 2017 Hopefully it's just for cash flow purposes until prize money etc but it's not ideal. Don't like the way it's hidden away either in the summary and don't like that it leaves 4K in the bank either. Quote Link to comment Share on other sites More sharing options...
ropy Posted April 7, 2017 Report Share Posted April 7, 2017 Is there no prospect of this money being repaid? Quote Link to comment Share on other sites More sharing options...
Kmcalpin Posted April 7, 2017 Report Share Posted April 7, 2017 I can only assume that its a loan to cover cashflow issues given what we were told late last year. There will be no league payout for us this season until August given that we'll miss the top six. Also, its more than likely that transfer payments for players who left like Erwin, Hall and Johnson will phased over a good number of years. Quote Link to comment Share on other sites More sharing options...
Goggles & Flippers Posted April 7, 2017 Report Share Posted April 7, 2017 The cashflow issues at this time of year are well documented, lower crowds, postponements and potential loss of earnings from empty cup tie weekends along with increased overheads (undersoil heating, etc). However one of the defining principals of the Well Society is their funds could be used to help the club at this time. The alternative is the club holds £120k in reserve until this point of the season, the cost being the option of approximately two additional first team players. Personally I know what option I'd take (as long as they perform of course). I also feel satisfied that those who have control over this will ensure the funds are re-deposited when the sun is shining. 1 Quote Link to comment Share on other sites More sharing options...
weeyin Posted April 7, 2017 Report Share Posted April 7, 2017 I don't have any issues with the society moving funds to the club - that was the idea behind the Society and, now we own the club too, it doesn't sound like a bad idea. I'd just like to be able to sit down with someone in charge for an hour or two and understand exactly how the financing works, what we can do, what we can't do, what's a loan, what's a "donation" etc. because after all these years and the odd paragraph or two in Society missives (and not being able to attend meetings) I still don't know how we operate. I get it that a lot of people don't really care about that level of detail, it would just be nice to have it available for people that are interested in it. Quote Link to comment Share on other sites More sharing options...
steelboy Posted April 8, 2017 Report Share Posted April 8, 2017 The alternative is the club holds £120k in reserve until this point of the season, the cost being the option of approximately two additional first team players. Sounds good. Chalmers, Blyth and Lee Lucas for a rainy day. The total expenditure of the society must now be about 600k? Quote Link to comment Share on other sites More sharing options...
Lobey_Dosser Posted April 8, 2017 Report Share Posted April 8, 2017 Are the WS annual accounts available online? I've lost track of the various transfers/loans (this doesn't sound like a loan) and didn't realise the society balance was so low. The club must have took in upwards of £150k from the cup game at Ibrox, where would we be without that? Greater scrutiny needs to be put on those running the club finances. Quote Link to comment Share on other sites More sharing options...
CoF Posted April 8, 2017 Report Share Posted April 8, 2017 I get it that a lot of people don't really care about that level of detail, it would just be nice to have it available for people that are interested in it. I'm only interested in the absolute basics and I barely even understand them. Quote Link to comment Share on other sites More sharing options...
Pettywulliegrew-2 Posted April 8, 2017 Report Share Posted April 8, 2017 Quoting myself here but having followed the link on the latest 'Well Society email to the points discussed at the last board meeting I was interested the note the remarks about £120,000 being transferred from the 'Well Society to the club. Now I've consistently backed such transfers (even if fan ownership hadn't come to fruition the very fact the WS were able to help the club in this manner made it hugely worthwhile)so I've no grumbles with the cash transfer but it is a little intruiging/bordering on the slightly concerning as to why it is required based on the remarks made in December.Perhaps the failure to reach top six? Smaller than anticipated attendances? McGhee pay off? Further restructuring of the commercial side?Interesting one. Repeatedley opening the full South Stand/paying for stewards in both sections..... whenwell under 500 away fans attending.......how much does this cost the club every home game????? 1 Quote Link to comment Share on other sites More sharing options...
dossertillidie Posted April 8, 2017 Report Share Posted April 8, 2017 Repeatedley opening the full South Stand/paying for stewards in both sections..... whenwell under 500 away fans attending.......how much does this cost the club every home game????? Just one cost cutting exercise we should be looking at or should have been looking at at the start of the season. Quote Link to comment Share on other sites More sharing options...
Jay Posted April 10, 2017 Report Share Posted April 10, 2017 I'm only interested in the absolute basics and I barely even understand them. Part of Craig & I's plans to revamp the website and turn it into an actual hub of information and updates, rather than just the online after-thought it currently is, is to have a "How It Works" section which will contain a very straight forward, very clear guide on how the Society actually works and what members should expect. Scope for additional, more complex information in there too (but I think the vast majority of fans, myself include, agree with you that the basics are what most care about). Definitely needs to be more clarification on the financing though so that all members are clear on what's going on, rather than having to discuss it on a forum out of natural concern. 2 Quote Link to comment Share on other sites More sharing options...
CMWellfan Posted April 10, 2017 Report Share Posted April 10, 2017 Lets try again - Lock this fucking thread and start a new one. 90 pages of now irrelevant posts -the WS now owns the club. Start a new thread called The Well Society & Double Your Money Pledge Keep the offer by Les Hutchison to double our fundraising this year in the public eye Quote Link to comment Share on other sites More sharing options...
Andy_P Posted April 10, 2017 Report Share Posted April 10, 2017 Lets try again - Lock this fucking thread and start a new one. 90 pages of now irrelevant posts -the WS now owns the club. Start a new thread called The Well Society & Double Your Money Pledge Keep the offer by Les Hutchison to double our fundraising this year in the public eye You weren't ignored the first time. The that lots of different threads haven't cropped up suggest that folk are happy enough that all Well Society posts are generally all together in the one thread regardless of whatever stage of the process we've been at. Quote Link to comment Share on other sites More sharing options...
stuwell Posted April 10, 2017 Author Report Share Posted April 10, 2017 Just rename it the well society thread. Quote Link to comment Share on other sites More sharing options...
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