[BFCST] Summary of yesterday’s press conference

Really?[/QUOTE]
As I say, fans aren't getting just what the situation is. We're in danger of going to the wall. We're being propped up by a million pound cash injection from the owners that hopefully tides us over until we sell players. We may not be able to sell players, the bottom has fallen out of the transfer market. So yes, really.

 

Yeah, I'd agree with Jay. I think we really are in it financially. 7-8 million shortfall we have to make up. Entire squad isn't worth that, so it remains to be seen what we do.

I'd buy a season ticket myself, just to help, but it's three weeks till payday and I'm already skint. I basically live in my overdraft. And I earn half a decent wage, and I have relatively low bills. Can't imagine I'm the only one feeling the squeeze.

 

Yeah I heard that too.

They will do that rather than lose the club through admin wouldn't they tbh.

So 1 million to buy a bit of time.

They will put more in if needed because offers are still too low.

We've had years of selling for peanuts because of the small club mentality.

Christ let's not go back to it and sell Morris for 100k for example

 

The other interesting part was when we were discussing the broader business experience from her other interests and what this would bring to the boardroom. She seemed very determined about wanting to engage with supporters and understand more from them (and not just as a throwaway line in an interview).

I didn't get the feeling that it was simply 'bluster' to appease me, but more suggestive of the self-motivation of someone who's naturally driven to succeed at whatever they set their sights on.

It was a short conversation, but enough to leave a positive first impression.

 

Re the last bit. I really can't see us getting much for any of our players. Certainly not the silly quotes banded about on here season before last. comparing Woodrow to Toney. But most, if not all our players values will have dropped dramatically. Getting the likes of woodrow off the wage bill. (Circa £450k pa. The only figure I've seen quoted) As much as I'd like to see us keep Helik I reckon he's the only one who is worth anything substantial. But even his value is dropping day on day.

 

This doesn't add up to me.

When was the last Q&A with the CEO?

It was mentioned at that they were doing a recruitment drive into things like Media with 2 people being added there and people being added in other areas of the club. Maybe around Commerical but I might be miles out.

This isn't a surprise to anyone within the club whats happened, The relegation and the change in board structure.

Now you can say these people won't cost a lot but i'ld imagine they will be added together it would costs a bit.

Also we do have some good players that will cost quite a bit.

I get what you and Jay are saying about money in now.
I believe the EFLs money goes to the club start of June. Season ticket Money and when do the club get money from sponsorship?

 

There are a number of ways to view the £1m injection, beyond the immediate need for funds. FWIW, I don't think the situation is as immediately dire as portrayed in @Jay 's post, but Neerav made no secret of the fact that players needed to be sold (and we already knew this anyway, so he's only re-confirming the obvious).

1) it lessens the immediate sensitivity around the £750k issue. This hasn't gone away, and there are further questions to be asked about it, but at least the investment overall is now net +£250k.
2) it puts the adversarial shareholders to the test as to how they respond to it. They either have to reverse their previously stated position about not investing, or they see their stake in BFC starting to be diluted.
3) they were open about considering the need to invest further should this be required. The swift action and transparency about it is very much a statement of intent from a new board following a hostile takeover.
4) strategically it gives them the option to bide their time on incoming offers, rather than take the first one received out of desperation. At the very least it's an attempt to maximise the value achieved through player sales.

 

How far do you think third rate sponsorship money will go when you've got bang average and worse players on £250,000 to £500,000 a year?

 

All fair points.

Yes ST money is flowing in, and added together they will be well aware through income/expenditure projections precisely when we would run out.

I take it that 1 million injection, plus ST and such like, couple with a perceived sale of some already identified players gives them options.

But options will only reduce when whatever date they identify is upon us. They then have to decide to input more etc

 

In football clubs, you have a front loaded amount of cash at the beginning of the season. Though I think (though I'm sure others can confirm) there was an attempt to spread centralised monies to try and make it easier for clubs to budget, especially in the lower leagues. But much of that cash has to see you through a season. You might have a few bumper away followings, or a televised game or a plum cup tie, but they are nominal in the scheme of things.

Losses don't kill you as a business. Lack of cash liquidity does. Our cash from ST's is down, TV money is down, other revenue will likely be down and there will also be outgoing cash repaying the EFL loan. All off the back of losses year on year and dwindling player values.

It's a dangerous mix.

 

In the Ted Talk below, which someone posted when JAQ joined the board, she was introduced by one of her employees as Kway, not Key, as you put in the summary.



I just wanted to doublecheck.

 

Prior to the press conference commencing we were shown slides of all the Board members and this is how her name was announced to us.

If it's wrong, then BFC staff are using the incorrect pronunciation, but I'm sticking with it until corrected.

 

I think we might be able to get more than that .
plus a smaller squad.

Hopefully a few good loans too. Maybe the CEOs links might come in with them.

 

I suspect loans may be the experienced players we need.

Such as when we had Matty James and Gardiner etc

And that would do me just fine

 

So if we are as much financial mess as it sounds, what has whoever owns the club been playing at. Its the fans what has to suffer last season and now an uncertain future. Its the investors or shareholders that own the club, even the new chairman said he bought into the club to make money which begs the question how many people are they thats taking money from the club. I get the cost of dropping to league 1 but also the people responsible still own a large part of the club make them pay or invest.

 

We need to pick exactly the right loans and purchases but above all we need a manager who can organise and create a team that is greater than the sum of its parts.
A couple of experienced loans would be nice.

 

After last season & the reality of the situation behind the scenes, at this point survival is the aim next season. That could all change however with the right managerial appointment, the amount we receive for player sales, who is sold, & who is recruited & who develops quickly over a short period in terms of our younger players.

 

I've also seen a video of her where she introduces herself as Kway. I'm not teccy enough to link it, but it's on You Tube - Out of the (Greenhouse) with Julie Anne Quay.