Fans Forum minutes 24/09/18

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Fans Forum minutes 24/09/18

Post by Cal » Fri Oct 05, 2018 4:32 pm

They've finally got around to releasing the highly anticipated minutes from a reportedly lively fans forum...

https://www.nufc.co.uk/news/latest-news ... s-revealed

https://www.nufc.co.uk/media/39555/fans ... r-2018.pdf

Still reading through, but this sounds like a key passage.
AH: “There is an idea from fans that the club has £30m - £50m in the bank. Is that accurate?”

The club stated that it was an oversimplification to talk about a cash position at any particular point in the season. The cash flow has peaks and troughs through the season and has to be managed – including periods to ensure the club is not in a negative cash balance – with support given either by the owner or through an external lender.

Either way, by the end of the financial year we aim to pay back what is owed, in terms of short term funding, to whomever it is owed. The amount owed to the owner was disclosed in last accounts and the figure is currently less than that. However the source of funding and level of funding required for the remainder of the season is not yet finalised, so this position may change.

Premier League payments are not made in full at the start of the season and come into the club in three main instalments in July, January and at the end of the season. The club also receives smaller monthly payments.
Other points:
- Mitro money is spread over 4 years. Club prefer to be paid a higher total in instalments rather than less up front, and vice versa for purchases.
- Club would rather put money into players and paying off debts than improve the training ground, and doesn't have faith in the academy as a potential source of talent
- Club remains for sale, nothing is close as it stands
- Sports Direct now pays for advertising in the stadium (no figure provided), is allocated what advertising the club fails to sell

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Re: Fans Forum minutes 24/09/18

Post by Heisen » Fri Oct 05, 2018 5:15 pm

The comment on the academy was worrying. Basically writing off our academy because we aren't a top 6 club is ridiculous.

The fact we accept payment in installments for players but also pay up front for ours also explains a lot. Basically means we can disregard most of any incoming transfer money.

The whole thing confirms what most of us already knew - Ashley is basically chipping off bits of any money generated to pay himself back; the club sees itself as a frugal business with every penny seemingly spent with great care and attention and that there's basically no money to spend on the academy or training ground. It also irritated me how much they seemed to be patting themselves on the back for securing the Rondon deal. Taking almost 3 months to secure a loan deal from a relegated club is not something to be proud about.

Also blaming the World Cup for not buying players is just spin of the highest order. Didn't stop Brighton, Fulham etc. Feel like there were so many missed opportunities to push for answers that went ignored here.
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Re: Fans Forum minutes 24/09/18

Post by Heisen » Fri Oct 05, 2018 6:01 pm

The club explained that several more players were pursued, some of which were well
above and beyond the club’s current transfer record. For a number of reasons, the deals
were not possible despite the money being available for these players'
Fine, but why? Did nobody think you ask why it is these deals were not available?
The club would ideally like to secure exciting,
high-quality young players who can make a difference, rather than focussing on quantity of players.
So, ones that cost money? Money the club is not willing to put up? Ones that it will not be possible to secure up front as any exciting, young player will no doubt come with clauses securing income based on future success? And it's also not ok to build squad depth now, hence having one available left back at the club.
The club explained that signing a player now is rarely straightforward for any club, with
various parties needing to be satisfied before a deal is concluded.
Utter ****. The market is the same for every club and it doesn't stop other clubs. Just admit what the reasons are for why us alone seem unable to operate within it.
Another consideration is the club’s wage structure, which can impact heavily on the
dressing room. When players come in, the club tries to keep salaries within that structure.
The club explained that while people refer to an extra £10,000 or £15,000 a week to
secure a deal, this can create an imbalance in the dressing room, and can mean a difference
of millions of pounds to the budget.
Since I am almost certain not every single one of our players is on the same wage, why should this matter? This is as close as we're going to get to an admission from the club that we will never buy any star players. How depressing.
ER’s view was that the club’s facilities were by no means the worst in the Premier League
What an achievement to aspire towards <awe>
The club is currently unable to put a timescale on the new training ground building.
Of course they aren't. It's only been going on for 5 years.

The whole thing is just spin, misdirection and contradictions. The club want young, exciting players but won't pay what is required for them and wants everyone to be earning the same so nobody is pissed off which is absolute fantasy.

This business model also contradicts itself. They won't invest in the academy even though this could be an avenue to bring young players without paying for them, the very type of player the club is committed to bringing in.

It seems to me that it isn't so much Rafa providing them with a list of demands and them saying no; moreso the club vetoing about 90% of the market straight away and Rafa being left with a very limited market to work within. Throw in how notorious we are at 'getting the right deal' and it's a miracle he brought in as many players as he did. He basically has to buy young players with enormous sell on value whose clubs will accept payment up front, who won't require much in the way of wages and preferably have no competition within the squad.
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Re: Fans Forum minutes 24/09/18

Post by TJR » Fri Oct 05, 2018 6:32 pm

Turns out the minutes released aren't an accurate reflection of what was said. What a shock. The club have tried to mislead fans once again.


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Re: Fans Forum minutes 24/09/18

Post by Cal » Fri Oct 05, 2018 7:01 pm

Heisen wrote:
Fri Oct 05, 2018 5:15 pm
It also irritated me how much they seemed to be patting themselves on the back for securing the Rondon deal. Taking almost 3 months to secure a loan deal from a relegated club is not something to be proud about.
Ah, but you see we secured him on a temporary basis and don't have to pay a significant transfer fee, additional agent fees, or commit to paying his wages beyond this season. Genius, especially as we were considering deals significantly more expensive than our record fee, we should be grateful that the cash flow has been so well guarded in this case.

<dotheameobi>

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Re: Fans Forum minutes 24/09/18

Post by Cal » Fri Oct 05, 2018 7:07 pm

Further to the Ashley repaying some of the loans point;


SpoilerShow
"I have provided the club with interest-free loans, the outstanding balance of which as at today’s date is £144million"
-Mike Ashley, Aug 7th

The amount owed to the owner was disclosed in last accounts (£144m) and the figure is currently less than that
-Fans Forum, Oct 5th

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Re: Fans Forum minutes 24/09/18

Post by Heisen » Fri Oct 05, 2018 8:22 pm

Therefore the next set of club accounts should reflect that. I don't give a toss if he's taking his money back - it's well within his rights, it's his money ultimately - but it's the lack of transparency that is infuriating.

You can guarantee though he'll 'provide a cash injection' in January for transfers and we'll end up owing him more than that by the time the next set of accounts roll around. So predictable.
Last edited by Heisen on Fri Oct 05, 2018 8:23 pm, edited 1 time in total.
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Re: Fans Forum minutes 24/09/18

Post by Heisen » Fri Oct 05, 2018 8:23 pm

Cal wrote:
Fri Oct 05, 2018 7:01 pm
Heisen wrote:
Fri Oct 05, 2018 5:15 pm
It also irritated me how much they seemed to be patting themselves on the back for securing the Rondon deal. Taking almost 3 months to secure a loan deal from a relegated club is not something to be proud about.
Ah, but you see we secured him on a temporary basis and don't have to pay a significant transfer fee, additional agent fees, or commit to paying his wages beyond this season. Genius, especially as we were considering deals significantly more expensive than our record fee, we should be grateful that the cash flow has been so well guarded in this case.

<dotheameobi>
And we don't have the worst training ground in the division too! We should be so grateful to our almighty saviour <awe>
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Re: Fans Forum minutes 24/09/18

Post by Colly » Fri Oct 05, 2018 9:17 pm

Who are the FLA mentioned on the last page?

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Re: Fans Forum minutes 24/09/18

Post by TJR » Fri Oct 05, 2018 10:28 pm

Colly wrote:
Fri Oct 05, 2018 9:17 pm
Who are the FLA mentioned on the last page?
Tommy Robinsons latest group spreading racial hatred. Calling themselves the football lads alliance <puke>


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Re: Fans Forum minutes 24/09/18

Post by Colly » Sat Oct 06, 2018 9:13 am

Urgh.

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