one_luc_nijholt Posted April 1, 2010 Report Share Posted April 1, 2010 104th AGM called | Print | E-mail Thursday, 01 April 2010 Club Statement The club yesterday wrote to all shareholders, calling the 104th AGM to take place on Monday 19th April, with news that the audited accounts show a £703,391 loss for the year ending 31 May 2009. This is the first loss the club has endured in six years and was caused, primarily, by the demise of Setanta which considerably reduced the anticipated TV revenue, unbudgeted pitch repairs and the failure to reach the top six in the Scottish Premier League. Commenting, Chairman John Boyle said, “Following this loss, the club took decisive action and I am pleased to confirm that Motherwell Football Club will return to profit for the financial year ending 31 May 2010. “The club is fortunate to be one of the few in the SPL with no bank debt which enhances our financial position.” Elsewhere, the club are also delighted to announce the appointment of three new directors to the club board. Leeann Dempster has been promoted from her role as General Manager to Chief Executive. Furthermore, Andrew Wilson and Derek Weir have joined as Non-Executive Directors. Both are lifelong Motherwell fans having been season ticket holds for more than 25 years and 35 years respectively. Andrew is currently Head of Group Corporate Affairs for RBS. Prior to this, he was Deputy Chief Economist for the bank and also a member of the first Scottish Parliament for Central Scotland. Derek has vast experience in the finance sector and, until recently, was the Managing Director for Barclays Bank for Scotland and Ireland. Prior to this, Derek was Head of the Commercial Division of RBS. “Andrew will bring a wealth of experience and I look forward to him actively assisting us in improving our communications and developing stronger relationships with our fans,“ said Mr Boyle. “Derek will bring a vast financial experience to the board and his input will be important given the current financial issues facing the Scottish Football industry. “These appointments strengthen the Board at a time when we enter a crucial period for the Club in particular and Scottish Football in general.” However, standing down from the board will be Martin Rose. Martin served the club for almost seven years where he made a considerable contribution, particularly in the area of safety and disability access through his involvement in the Motherwell Supporters Trust. Everyone at Motherwell Football Club would like to thank him for his efforts over these years. Quote Link to comment Share on other sites More sharing options...
real dosser Posted April 1, 2010 Report Share Posted April 1, 2010 If Martin Rose is standing down does that mean the Trust can put forward a condidate for the Board ?? Just a thought. Quote Link to comment Share on other sites More sharing options...
Welldel Posted April 1, 2010 Report Share Posted April 1, 2010 Andy Wilson is a good bloke. He will bring some good knowledge and experince to the club and he is a diehard Well fan into the bargain. The outlook looks very positive for the club overall. Quote Link to comment Share on other sites More sharing options...
Maxi Posted April 1, 2010 Report Share Posted April 1, 2010 Well we will certainly be Profit to May 2010. Add into account *Small Euro run *Clarkson fee *Quinn fee *Hughes/Porter/Malcolm/Klimpl etc off wage bill *Top 6 meaning increased prize money. *The 4th home game against old firm this season. Quote Link to comment Share on other sites More sharing options...
el-pidge Posted April 1, 2010 Report Share Posted April 1, 2010 It will be interesting to see the profits next year! Given we built a team on frees and lower wages that was probably not expected to make the top 6 at the start of the season. I would imagine we have made the absolute best of a reasonably bad situation. Quote Link to comment Share on other sites More sharing options...
fatcalf Posted April 1, 2010 Report Share Posted April 1, 2010 If Martin Rose is standing down does that mean the Trust can put forward a condidate for the Board ?? Just a thought. If Martin Rose had been appointed as Trust rep then aye, but seeing as his appointment was a personal one then no. Quote Link to comment Share on other sites More sharing options...
steelboy Posted April 1, 2010 Report Share Posted April 1, 2010 i thought we'd make a loss but not such a big one. not really anything to worry about though as someone else said in june last year we brought in about £1.3 million from mcghee, clarky and quinn and the wage bill will have been seriously reduced this season. Quote Link to comment Share on other sites More sharing options...
Dodge Posted April 1, 2010 Report Share Posted April 1, 2010 Well we will certainly be Profit to May 2010. Add into account *Small Euro run *Clarkson fee *Quinn fee *Hughes/Porter/Malcolm/Klimpl etc off wage bill *Top 6 meaning increased prize money. *The 4th home game against old firm this season. Remember you've probably got the pitch expenses to add into this. So I doubt it'll be a huge profit. Quote Link to comment Share on other sites More sharing options...
Onthefringes Posted April 1, 2010 Report Share Posted April 1, 2010 Remember you've probably got the pitch expenses to add into this. So I doubt it'll be a huge profit. This is the first loss the club has endured in six years and was caused, primarily, by the demise of Setanta which considerably reduced the anticipated TV revenue, unbudgeted pitch repairs and the failure to reach the top six in the Scottish Premier League. I'd suspect compensation from Aberdeen for the release of McGhee would cover most if not all costs incurred. Not overly concerned, as we are told of a return to profit this current financial year. Unlike he'd have you believe, Mr McGhee was given everything he asked for at Motherwell to the detriment of the balance sheet... his raised salary no doubt adding to our overspend. Alarmed, yes, that the current custodians perhaps returned to old ways chasing an impossible dream. Again, lessons learned, I'd rather we perform on and off pitch as has been viewed/reported this season. Loads of top flight clubs would welcome this position. Onwards and Upwards Quote Link to comment Share on other sites More sharing options...
Dodge Posted April 1, 2010 Report Share Posted April 1, 2010 Onthefringes - Would those pitch repairs not cover the period where we had to relay the East / South Stand corner the previous year? The pitch replacement from last summer will no doubt be covered in next years budget. As you said the McGhee money will cover it but all to often on here I see posts like the one I quoted in which someone lists X,Y and Z pieces of income and assumes that we'll make a large profit when the truth is any profit we make will be very modest. Quote Link to comment Share on other sites More sharing options...
underboyleheating Posted April 1, 2010 Report Share Posted April 1, 2010 This picture of JB on the official site made me laugh. Caption contest maybe? "To cut costs next winter, we'll need to plug burst pipes with the first thing that comes to hand." Quote Link to comment Share on other sites More sharing options...
Ya Bezzer! Posted April 1, 2010 Report Share Posted April 1, 2010 104th AGM called | Print | E-mail Thursday, 01 April 2010 Club Statement The club yesterday wrote to all shareholders, calling the 104th AGM to take place on Monday 19th April, with news that the audited accounts show a £703,391 loss for the year ending 31 May 2009. This is the first loss the club has endured in six years and was caused, primarily, by the demise of Setanta which considerably reduced the anticipated TV revenue, unbudgeted pitch repairs and the failure to reach the top six in the Scottish Premier League. Commenting, Chairman John Boyle said, “Following this loss, the club took decisive action and I am pleased to confirm that Motherwell Football Club will return to profit for the financial year ending 31 May 2010. “The club is fortunate to be one of the few in the SPL with no bank debt which enhances our financial position.” First of all we lost £700,000. If what was reported at the time about the deal was true £500,000 of that would be from the Setanta deal and £200,000 from other factors although I don't believe we actually budget for a Top 6 finish and if we do, we shouldn't. Quote Link to comment Share on other sites More sharing options...
Frazzie Posted April 1, 2010 Report Share Posted April 1, 2010 Mind we got a wee £80k for Skippy moving down South aswell. Quote Link to comment Share on other sites More sharing options...
MearnsWell Posted April 1, 2010 Report Share Posted April 1, 2010 Mmmm, so why would a £4M-ish turnover business with no debt need the "expertise" of a pair of bankers, one with a strong PR and politics background? Because obviously RBS folk know all about running a successful profitable business Or perchance Mr Boyle has imminent future plans involving incurring debt such as building a new stadium? Mind you, if you can attempt to positively spin RBS Corporate Affairs, if the pitch f**ks up again next winter, we're covered. Quote Link to comment Share on other sites More sharing options...
East_Stand_Al Posted April 1, 2010 Report Share Posted April 1, 2010 Congratulations are due to Leeann Dempster. the club are also delighted to announce the appointment of three new directors to the club board. Leeann Dempster has been promoted from her role as General Manager to Chief Executive. http://www.motherwellfc.co.uk/index.php?op...&Itemid=133 She has in my opinion made a difference particularly in communicating with the fans hope she continues to do so. Well done Leeann Quote Link to comment Share on other sites More sharing options...
steelboy Posted April 1, 2010 Report Share Posted April 1, 2010 since the pitch repair started in may 2009 is there not a chance the cost would be included in these accounts? i think i'll splash out a quid and download them for the companies house website anyway. Quote Link to comment Share on other sites More sharing options...
Kyronical Posted April 1, 2010 Report Share Posted April 1, 2010 If Martin Rose is standing down does that mean the Trust can put forward a condidate for the Board ?? Just a thought. Doubt it.... might put forward a candidate though. Quote Link to comment Share on other sites More sharing options...
alanr Posted April 1, 2010 Report Share Posted April 1, 2010 Doubt it.... might put forward a candiate though. EDIT: That was a quick correction sir! Quote Link to comment Share on other sites More sharing options...
Kyronical Posted April 1, 2010 Report Share Posted April 1, 2010 EDIT: That was a quick correction sir! Yep made a c**t of it lol Quote Link to comment Share on other sites More sharing options...
wunderwell Posted April 2, 2010 Report Share Posted April 2, 2010 Anyone know who I would be best to get in touch with a proposal of a commercial nature at Motherwell? Our business has some good innovative products that would certainly add revenue to the club and give us something that I believe no SPL Club would have.................. Quote Link to comment Share on other sites More sharing options...
wunderwell Posted April 2, 2010 Report Share Posted April 2, 2010 Actually Flow could you PM me? Cheers Quote Link to comment Share on other sites More sharing options...
Gaag Posted April 2, 2010 Report Share Posted April 2, 2010 Actually Flow could you PM me? Cheers PM him yourself, or you could email him. Just in case he doesn't read this. Quote Link to comment Share on other sites More sharing options...
fizoxy Posted April 2, 2010 Report Share Posted April 2, 2010 Anyone know who I would be best to get in touch with a proposal of a commercial nature at Motherwell? Our business has some good innovative products that would certainly add revenue to the club and give us something that I believe no SPL Club would have.................. Is it one of those condom machines with the blow up sheep in it? Ear muffs? Either way, the club's phone number is on the website. Quote Link to comment Share on other sites More sharing options...
wunderwell Posted April 3, 2010 Report Share Posted April 3, 2010 Cheers Guys, Flow got back to me, sorry never PM'd anyone before. Yes it was ear muffs how did you guess - well blow up sheep ear muffs Ta Quote Link to comment Share on other sites More sharing options...
Frazzie Posted April 3, 2010 Report Share Posted April 3, 2010 Flow got back to me... Fuck me, you must be one of the priviledged few! Quote Link to comment Share on other sites More sharing options...
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