[BFCST] Summary of yesterday’s press conference

Thanks, to everyone for these updates. Collectively your hard work and commitment to the cause is very much appreciated.

 

What he said

 

Cheers for that, much appreciated and for the links included within.

@Gally feel free to pinch that diagram I drew and "BFCST it" style if you wish with the current known breakdown of club/ground ownership etc.

It would be good to keep this at the forefront somewhere, as I'm seeing plenty of comments which seemingly question things that the diagram make clear (well in my eyes anyway)

 

Thank you for this write up, much appreciated.

I really don't think a lot of supporters understand the gravity of the situation. I keep reading how we should sign players released from Championship clubs and how we can mount a promotion challenge next season. People aren't getting it.

Let's get this clear, without a cash injection from the board we cannot afford running costs. We would have to apply for administration to protect ourselves from our creditors filing a winding up order so they could get back what they're owed. The initial cash injection will only cover us until we can sell players. The money we receive from this will offset running costs, it won't allow for new signings, either transfer fees or wages, and in all probability a further cash injection will be required just to operate as a business.

Our aspiration should be survival. If we manage that then retaining league 1 status is a big ask. 5th bottom and enough money to get through the 2023 close season will be a huge success.

 

I'm relieved to see that the early feedback on the write-up is positive. I enjoyed sitting alongside the likes of Andy Giddings, Doug O'Kane, Leon Wobschall yesterday, and I've developed a new-found appreciation for the task of turning something into print at relatively short notice from hastily scribbled notes.

I also have to thank those at the club for accommodating me alongside the 'proper journos' yesterday.

 

I agree, so using your logic could I respectfully encourage all who are in a position to buy a season ticket.

 

I didn't get that feeling from what they've said at all. SOME players will need to leave but that's normal for all clubs that get relegated (Listened to Daraugh talking about things at Posh say the same thing)
KEA said they turned down offers as they did in January.
Neerav said a lot on Friday and a couple of times yesterday about the number one aim of getting out of League One.
League one isn't done under the same financial settings as the champ of FFP. It's the SCMP model. . With clauses around those that have been on certain length contracts. You can only spend what you've received. Patrick Cryne did the same last time so they could afford Mawson for example.

https://www.eadt.co.uk/sport/salary-cost-management-protocol-guide-2599520
I thought i'd seen it where the relegated teams get extra % on the first year in L1. That article above says 75%

 

In your opinion did you feel JAQ came across as genuine?

 

SCMP means Jack tbh.

If the club round out of money, we bust. Simple as that.

Which is what Jay is pointing out

The fact they have put 1 million in now, points to exactly what Jay is explaining.

 

At which point in either video did they mention running out of money ? Nezbfc if you find it in either video please give us a time stamp please.
They mentioned putting money in so they could sign lower-cost players first without selling.

 

They point out it's to buy time to possibly receive improved offers.

That 1 million won't last very long at all, I'd we turn down all offers.

I'm not running through the entire video again

Use your brain to understand what relegation to league one means and loss of TV money

What a circa 13 million wage bill means

They litterally don't add up. Which has been explained a million times on here

 

Yes, albeit it's a feeling based on a 5 minute conversation over Zoom.

The answer that I found most genuine was when I referred to her being a regular watcher of games and she admitted that she lost the enthusiasm to do so towards the end of the season. She didn't need to admit that, and wouldn't have done so if giving a purely cosmetic response, but it was just the type of reply you might get from a fellow supporter sitting alongside you in the pub.

 

You make perfect sense.

Don't engage with Hemsworth. The bloke is an idiot. It's probably Beth, Whitey and Hassell's fault.

 

Don’t think SCMP will be a factor TBH.
All players signed before September 2021 on a 3 year or more contract, their wages are exempt.
Also the £1m being out in is allowed to be classed as turnover.

 

I’m a big believer in trusting instinct, that’s why I always ask that question to this who go.

Thanks

 

You'd have to be inept in the extreme to blurt out you've run out of money. That causes panic in the supporter base, creditors and signals a pending fire sale for our players. Even if we try and hold out, suitors know we have to sell or we'll go bust.

Our financial situation is dire until we get our big earners off the books and bring in some form of fees. 20/21 we lost over £4m despite several million coming in to subsidise losses from insurance etc and with a wage bill of £14m. We currently have a 35% reduction in ST holders from last year, have EFL loans to repay, have circa £6-7m reduction in TV rights and we don't know what clauses there may be in sponsors agreements. And of course, we will likely sell less on matchdays and on average, have reduced away followings.

We've still got a huge squad and paying wages for them. Our loaned out players will be back in the fold and full wages paid out for them too, Oulare (maybe) aside. There are contractual reductions for some/all of our players, but Parekh confirmed that they don't meet the shortfall in income.

It would be naive beyond words to fail to interpret that our club is not in a financial mess.

 

Our aspiration should be survival. If we manage that then retaining league 1 status is a big ask. 5th bottom and enough money to get through the 2023 close season will be a huge success.[/QUOTE]


Really?

 

The £1m is a cash injection. If more needs putting in they will look at the situation and more funds will be made available. They didn't say it's a one off.
Given I'm hard of hearing and pillocks talking over em. (I've not watched the video of either event. But was in attendance at the forum) That's what I took them to mean.
I'm sure as always. someone else will verify or put me right.