Dezz Posted May 21, 2014 Report Share Posted May 21, 2014 At work and posting from my phone..but the board have just released a rather worrying financial statement that everyone should have a read at as soon as possible. Quote Link to comment Share on other sites More sharing options...
Gaz Posted May 21, 2014 Report Share Posted May 21, 2014 Here's the link: http://www.motherwellfc.co.uk/2014/05/21/statement-from-the-board-may-2014/ Quote Link to comment Share on other sites More sharing options...
Dezz Posted May 21, 2014 Author Report Share Posted May 21, 2014 Cheers Gaz. Quote Link to comment Share on other sites More sharing options...
Burn_Broomfield Posted May 21, 2014 Report Share Posted May 21, 2014 I wouldn't say it's that worrying, it's what we've all known for a long time. It think it's actually a positive statement. The board are committed to keeping the Club successful demonstrated by not cutting the playing budget, but are being proactive in trying to increase income streams. We do need outside investment as the Well Society won't grow much more than it's current size. Quote Link to comment Share on other sites More sharing options...
Jonaldinho Posted May 21, 2014 Report Share Posted May 21, 2014 These points are small ball in terms of the huge figures mentioned however they are relevant on the commercial side. 1. No fans game this year. This could have raised £7-8k based on 28 guys paying on average £250 for a shirt. £2 for spectators which would draw in the usual 200+ mark. 2. No game on the park for a local side who would have also hosted an awards evening at the stadium. I'd estimate this to be worth over £1k. Missed opportunities to make a decent sum. Quote Link to comment Share on other sites More sharing options...
johnstone Posted May 21, 2014 Report Share Posted May 21, 2014 We need to try and improve the TV deal. We need a decent sponsor for our game. We need to start selling young talent on for big bucks (Look at Livingston) As Broomfield says I don't think the Well Society can increase funds more than it has. Quote Link to comment Share on other sites More sharing options...
tottenmfc Posted May 21, 2014 Report Share Posted May 21, 2014 Seems to basically be saying that our income is falling because we have no league sponsor and are giving cash back to TV companies (which is because they guys in charge of the game are not doing their jobs properly) but rather than deal with that the easiest way out is to look for the same hardcore support to put their hands in their pockets again. The target of the society always seemed high to me based on the size of our support and the current financial climate - I haven't invested myself because I have other things to be doing with the cash rather than essentially making a donation to a football club. I may have also missed something but what happens if we do reach the £1.5m target and the society does take control of the club? If we maintain current budgets we apparently keep losing money and if we have a couple of average seasons the £1.5m won't be long disappearing surely? Quote Link to comment Share on other sites More sharing options...
ONeils40yarder Posted May 21, 2014 Report Share Posted May 21, 2014 The fact that they are heavily hinting at inviting potential investors to buy shares, tells me that they believe the Well Society is doomed to failure. Quote Link to comment Share on other sites More sharing options...
Yoshi-1991 Posted May 21, 2014 Report Share Posted May 21, 2014 To be fair I personally thought that from the off. Quote Link to comment Share on other sites More sharing options...
Welldel Posted May 21, 2014 Report Share Posted May 21, 2014 I cant afford to pay for a Society membership on top of my season ticket. I could however afford to pay into a few games in addition to my season ticket. Or possibly make a financial donation at the turn style a few times during the season. Quote Link to comment Share on other sites More sharing options...
Welldel Posted May 21, 2014 Report Share Posted May 21, 2014 for what it is worth, the Society is a good idea and fan ownership would be magic. However a club our size need more financial support than the Society can provide. We should always be looking for investment. Quote Link to comment Share on other sites More sharing options...
weeyin Posted May 21, 2014 Report Share Posted May 21, 2014 It's hardly doomed to failure given that it has already been a success, allowing the club to borrow funds from the pool when it was needed. Even if we don't raise another penny, having that line of credit available to club of our size is pretty important. It might not be as large a pool as we hoped, but that is mostly down to the lack of business investors rather than individuals. From what I understand, the Board and the Society are working on ways to address that include offering businesses alternatives to 'Well Society investment. I think we should have been pursing that approach anyway, in parallel to the Society. Derek Weir talked to this point at the last Society meeting. Quote Link to comment Share on other sites More sharing options...
Steelmen Posted May 21, 2014 Report Share Posted May 21, 2014 The well society was a good idea but they ruined it by setting the amounts required too high. If they had the pay as you go scheme from the start i am sure many more people would have signed up. Personally i would be happy if my socitey money was used to buy shares in the club and investors who can afford it bought shares too. As long as it is for the good of the club. Quote Link to comment Share on other sites More sharing options...
steelman1991 Posted May 21, 2014 Report Share Posted May 21, 2014 I cant afford to pay for a Society membership on top of my season ticket. And this unfortunately is multiplied many times over throughout our 'core' support. Happy that the Directors are not resting on their laurels and are actively seeking alternative funding, hopefully successfully. Quote Link to comment Share on other sites More sharing options...
Welldaft Mk1 Posted May 21, 2014 Report Share Posted May 21, 2014 The Well Society was well thought out and actually quite well marketed at the time. Of course it is a donation to the football club - but I along with many others are OK with that. I know I wont see any money back and nor do I expect to. The reality is that £1.5m was always a bit ambitious as their target for higher levels of membership were no where near reached. Imagine 10 Steelmen packages at £25k, almost the equivalent of 1000 basic packages. It is disappointing that we have less than 1000 members, but that is not a slight on those who have decided not to join. Money is still tight and many have other real financial commitments like paying the bills and mortgages etc. Reading between the lines the club will have to go elsewhere for investment. That will ultimately jeopardise any chance of fan ownership and is hardly surprising. It also highlights what we already know. Those in charge of the SPFL have failed to increase revenue by attracting sponsorship or agreeing deals to subsidise BT sports!! In truth as much as I blame Doncaster and Co I also think Sky and BT are taking the p1ss. Whilst we and other clubs in Scottish football are toiling Cardiff get £65m for finishing bottom and Stoke get £10m per televised game this past season. Not only that Skybet sponsor the football leagues down south. I wish we had an alternative. I would imagine our subscriber numbers are healthier per head of population than down south. We are not the draw the EPL is and there is not the same re-sale value overseas, but we are being sold short. That much is VERY true Quote Link to comment Share on other sites More sharing options...
Dr.Pepper Posted May 21, 2014 Report Share Posted May 21, 2014 What percentage of shares is the well society trying to purchase? I seem to think its 79% or around that. Quote Link to comment Share on other sites More sharing options...
sbcmfc Posted May 21, 2014 Report Share Posted May 21, 2014 Am I the only one that thinks the club always overplay the negatives and largely ignores the positives when giving out info on the club finances? For example, this meeting was held before we beat Aberdeen, so we are (reportedly) £250k up already on where we were at the time. I'm willing to accept the cups and Europe this year were a disaster financially, but this hasn't been the case in previous seasons, yet they have been portrayed as such. Quote Link to comment Share on other sites More sharing options...
Welldaft Mk1 Posted May 21, 2014 Report Share Posted May 21, 2014 Am I the only one that thinks the club always overplay the negatives and largely ignores the positives when giving out info on the club finances? Perhaps but this our problem. Hearts got 8000 fans to sign up for their appeal. But that was because their club was going bust. We sign up less than 1000 because we did not appear under any real financial threat or pressure. The truth is quite a simple one. We are maintaining our budget this season because to make a meaningful cut of say £500k would see us plunge down the table. But it will only take one really bad season before we are/were up sh1t creek without a paddle. Losing 2 home games v Rangers costs the club £300,000 in gate receipts and hospitality. Glad that club are where they are, but with no sponsorship, gates not increasing - the financial reality for the club is bleak. They need to seek investment or we will run into trouble sooner or later Quote Link to comment Share on other sites More sharing options...
milo Posted May 21, 2014 Report Share Posted May 21, 2014 Doncaster, Regan and Ogilvie etc are not fit for purpose and should be punted ASAP! How they survived the "Armageddon" outbursts I'll never know. Am I reading it right that they have been paying BT sport to show Rangers games?!?! I'm speechless!! Quote Link to comment Share on other sites More sharing options...
postiejim Posted May 21, 2014 Report Share Posted May 21, 2014 Being just a thick postman I certainly know very little about financial affairs. But could the Well society not have set up a system where fans pay through direct debit a certain amount each month. Say a £5 ,£10, £15, £20 membership. A thousand fans paying a fiver a month is £60,000 a year ,if my arithmetic is right. Quote Link to comment Share on other sites More sharing options...
weeyin Posted May 21, 2014 Report Share Posted May 21, 2014 Being just a thick postman I certainly know very little about financial affairs. But could the Well society not have set up a system where fans pay through direct debit a certain amount each month. Say a £5 ,£10, £15, £20 membership. A thousand fans paying a fiver a month is £60,000 a year ,if my arithmetic is right. They have set up payment plans recently that mirror that idea. However, I believe at the time of launch the legal advice they were given was that, due to the financial regulations surrounding a Trust, payment plans were not allowed. Quote Link to comment Share on other sites More sharing options...
steelman1991 Posted May 21, 2014 Report Share Posted May 21, 2014 Being just a thick postman I certainly know very little about financial affairs. But could the Well society not have set up a system where fans pay through direct debit a certain amount each month. Say a £5 ,£10, £15, £20 membership. A thousand fans paying a fiver a month is £60,000 a year ,if my arithmetic is right. Similar scheme already in place Postie. Was introduced earlier in the year to attempt to attract new membership. Quote Link to comment Share on other sites More sharing options...
Toxteth O'Grady Posted May 21, 2014 Report Share Posted May 21, 2014 STV article Quote Link to comment Share on other sites More sharing options...
scott_mfc Posted May 21, 2014 Report Share Posted May 21, 2014 Being just a thick postman I certainly know very little about financial affairs. But could the Well society not have set up a system where fans pay through direct debit a certain amount each month. Say a £5 ,£10, £15, £20 membership. A thousand fans paying a fiver a month is £60,000 a year ,if my arithmetic is right. There is. It was put in place a few months back. Minimum is a tenner a month if I remember correctly. Quote Link to comment Share on other sites More sharing options...
Onthefringes Posted May 21, 2014 Report Share Posted May 21, 2014 Concerns duly noted, whilst it would be great to have some more financial clout, I'm comfortable with how our club performs on and off the pitch. On a more serious note, why don't the club just announce where we are heading for the pre-season shindig before we get down to business on July 17th? Quote Link to comment Share on other sites More sharing options...
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