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Post by porkystone on Nov 16, 2019 7:47:55 GMT
Does anyone know how much they are owed by the club now? It turns up in company accounts every year and changes up or down depending on circumstances. Although we don't really notice it, the thing that marks their tenure has been the lack of crisis we see so regularly at other clubs. It all seems to be so well structured. As at 30 June 2018, combined amount owed to T & O was £ 2,880,000. ( Last ' public domain ' info available ). What the Clown year took in additional funding we'll find out in the early Spring of 2020 ( 30 June 2019 info due to be filed 31.03.2020 ).
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Post by Deleted on Nov 16, 2019 8:55:03 GMT
I'm not sure this is really new news. Terry and Oliver both made it clear some time ago that they've come to the bottom of their own wallets so to speak, and that finishing the stadium would rely on new investment. In reality this is more of a public reminder that a wealthy new investor is required if we're to get to the Football League. The timing of this announcement makes me think they were rather hoping we'd get to the FA Cup third round and earn a juicy draw that would bring in a heap of cash - sadly that looks a remote possibility now.
It's nice to see Terry quoted as saying the Town End stand really needs to include facilities such as changing rooms - originally they were talking about just building another big Genco there to match the other one and bring the capacity up to FL Standards, however it would be a missed opportunity not to pack the rear of that stand with facilities for players, staff, a new bar and premises for commercial gain (like a proper club shop). It would also allow the potential removal of the current changing, bar and office block, thereby freeing up the possibility of extending the main stand to the end of that side, which will need to be done in the future if the full capacity potential of the site is ever to be achieved.
Well, football investors don't grow on trees but we live in hope.
Just to answer Barney's question further (Porky gave you the figures), in order to ring-fence the club from financial problems PBB founded a separate company called 'Maidstone United Ground Holdings' or something like that; Oliver and Terry maintained this set-up when they took over and so it is this holding company that owes them the money, i.e. the holding company has the huge debt, not the club.
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Post by harryflatters on Nov 16, 2019 9:21:20 GMT
Perhaps one of them could base themselves in Dubai for years and seek investors - as that seems to have worked out well for a certain other Kent club owner.
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Post by pedant on Nov 16, 2019 11:13:55 GMT
Two quotes that stand out for me: "and in the nine years since have invested £5,200,000 in developing the Gallagher Stadium." A far cry from the "two million quid" that's usually quoted as their 'investment'! These guys have stuck over 5m quid of their own money in to the club, just so we can watch the Stones - with no chance of making a penny on it, or even getting most of it back. Let's hope this stops the usual suspects from shooting their mouths off about how T&O dont care and are only in it for the money next time we hit a sticky patch (although I doubt if it will...). "Terry and I are prepared to consider staying in charge with a new partner backing us or to consider passing on control of the club to new owners." Recognising the probable reality that that anyone prepared to 'invest' substantially in MUFC is going to want control of the club. And also is unlikely to want to pay T&O anything like £5m to take the club over. For the Stones' future, they are not only prepared to hand their baby over to someone else and relinquish control, but they accept they're probably going to make a huge loss on the deal. This is the caliber of the blokes who saved our club and gave us all the success of the last 9 years. How many of us armchair critics would have done the same? Genuinely grateful for every pound they've put in and all their associated efforts and heartaches.
But "and in the nine years since have invested £5,200,000 in developing the Gallagher Stadium." from the public statement does not necessarily make your conclusion that "These guys have stuck over 5m quid of their own money in to the club" correct.
My initial reaction was that there has been total 'investment' of £5.2m in those nine years which would have included the other funding sources such as sponsorship and 'stadia improvement' grants. But I've no evidence to support that initial reaction either.
Like sword I don't have the quantity of funds to invest in the club and am content that as a consequence I'm not entitled to know all the financial details either.
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Post by rockstar on Nov 16, 2019 11:18:18 GMT
Once I get that euro millions win then I will invest in the club. I’m still hoping one day it will happen 😂
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Post by Bernie on Nov 16, 2019 11:21:07 GMT
Does anyone know how much they are owed by the club now? It turns up in company accounts every year and changes up or down depending on circumstances. Although we don't really notice it, the thing that marks their tenure has been the lack of crisis we see so regularly at other clubs. It all seems to be so well structured. As at 30 June 2018, combined amount owed to T & O was £ 2,880,000. ( Last ' public domain ' info available ). What the Clown year took in additional funding we'll find out in the early Spring of 2020 ( 30 June 2019 info due to be filed 31.03.2020 ). Maybe a little caution required when people say they spent £5.2 million on the ground. That may be what the various parts cost to build, but some will have come from turnover, some from grants, some will have been repaid (as it should). That money is not lost. We will all be forever grateful for this amazing town centre facility. They own a business outright, that gives a modest return on investment most years. Opening it up to new investors and aiming for a higher level are not without financial and ownership risks. That's just one reason I'm content with the current set up.
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Post by 61666 on Nov 16, 2019 11:31:32 GMT
Amen to that. Briefly thought about the idea of issuing shares, but with probably only around 3000 supporters, that would still equate to a grand each and not many of us would have even that amount of loose change to spare, especially in such a risky project. Macclesfield now among the unwashed, yet another club not paying wages, while the Premier league clubs just keep getting richer. In Peter Crouch's book, at one point he talks about the day he bought an Aston Martin before quickly realising it was not for him. So he sold it virtually the next day, with the throw away line that the lesson cost him £25000. One player, yet that represents the gate money (and more) for most non league clubs for a day. Macclesfield staff take note..
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Post by jdl on Nov 16, 2019 23:31:57 GMT
Two quotes that stand out for me: "and in the nine years since have invested £5,200,000 in developing the Gallagher Stadium." A far cry from the "two million quid" that's usually quoted as their 'investment'! These guys have stuck over 5m quid of their own money in to the club, just so we can watch the Stones - with no chance of making a penny on it, or even getting most of it back. Let's hope this stops the usual suspects from shooting their mouths off about how T&O dont care and are only in it for the money next time we hit a sticky patch (although I doubt if it will...). "Terry and I are prepared to consider staying in charge with a new partner backing us or to consider passing on control of the club to new owners." Recognising the probable reality that that anyone prepared to 'invest' substantially in MUFC is going to want control of the club. And also is unlikely to want to pay T&O anything like £5m to take the club over. For the Stones' future, they are not only prepared to hand their baby over to someone else and relinquish control, but they accept they're probably going to make a huge loss on the deal. This is the caliber of the blokes who saved our club and gave us all the success of the last 9 years. How many of us armchair critics would have done the same? Genuinely grateful for every pound they've put in and all their associated efforts and heartaches.
But "and in the nine years since have invested £5,200,000 in developing the Gallagher Stadium." from the public statement does not necessarily make your conclusion that "These guys have stuck over 5m quid of their own money in to the club" correct.
My initial reaction was that there has been total 'investment' of £5.2m in those nine years which would have included the other funding sources such as sponsorship and 'stadia improvement' grants. But I've no evidence to support that initial reaction either.
Like sword I don't have the quantity of funds to invest in the club and am content that as a consequence I'm not entitled to know all the financial details either.
I think you're right, I posted in hurry, so didn't have time to go into the nuances. The £5m+ is probably a headline figure, I doubt if their actual investment is much more than half of that - although still a huge amount, of course. But it still gives a good idea of the huge amount of money needed to create and run a sucessful club, even at our level. It makes you wonder just how much money is being ploughed into clubs like FGR - or Dover, Fleet, etc.
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Post by hammerstone on Nov 17, 2019 7:13:55 GMT
I’m pretty sure at one point in recent memory the good Dr was wiping off af least a million a season in lost revenue. Their wage budget was practically double ours I remember that much.
I think OA and TC have realised they are more a Ford Focus, steady, practical, reliable, staple but probably never going to pull anything half decent if your mate rocks up in E type jag and gets the attention. Hopefully it’s the right sort of investor that’s attracted rather than a Tamplin/take centre stage type
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Post by jakeyboi on Nov 17, 2019 14:51:50 GMT
From a fans point of view these are interesting times ahead for the club, new investors will always create changes, but what happens if no one comes forward, do you we then spend our days in the National South an lower knowing that the owners cannot afford to go higher in the footballing pyramid. Fans need to have dreams of bigger better games, we may regret a new investor but all good things change eventually.
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Post by pedant on Nov 17, 2019 16:38:05 GMT
From a fans point of view these are interesting times ahead for the club, new investors will always create changes, but what happens if no one comes forward, do you we then spend our days in the National South an lower knowing that the owners cannot afford to go higher in the footballing pyramid. Fans need to have dreams of bigger better games, we may regret a new investor but all good things change eventually. Don't disagree with the dreams* but as we all know only too well, bigger games don't necessarily mean better ones.
(*for instance I still dream of the Stones not conceding goals at the end of an away game )
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Post by Sennockian69 on Nov 17, 2019 17:44:57 GMT
I’m pretty sure at one point in recent memory the good Dr was wiping off af least a million a season in lost revenue. Their wage budget was practically double ours I remember that much. I think OA and TC have realised they are more a Ford Focus, steady, practical, reliable, staple but probably never going to pull anything half decent if your mate rocks up in E type jag and gets the attention. Hopefully it’s the right sort of investor that’s attracted rather than a Tamplin/take centre stage type If a lunatic like Tamplin arrives at the front door we are well and truely ffffffffffkd.
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Post by shamstone on Nov 17, 2019 18:14:47 GMT
I’m pretty sure at one point in recent memory the good Dr was wiping off af least a million a season in lost revenue. Their wage budget was practically double ours I remember that much. I think OA and TC have realised they are more a Ford Focus, steady, practical, reliable, staple but probably never going to pull anything half decent if your mate rocks up in E type jag and gets the attention. Hopefully it’s the right sort of investor that’s attracted rather than a Tamplin/take centre stage type If a lunatic like Tamplin arrives at the front door we are well and truely ffffffffffkd. The problem is, he’s the sort of (unt that would want to invest in us. We’ve got the fan base and he’d love the 2000+ ish. Can you imagine what his fcuking ego would be like then
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Post by hammerstone on Nov 17, 2019 18:36:57 GMT
If a lunatic like Tamplin arrives at the front door we are well and truely ffffffffffkd. The problem is, he’s the sort of (unt that would want to invest in us. We’ve got the fan base and he’d love the 2000+ ish. Can you imagine what his fcuking ego would be like then Thankfully I think our current owners have some sense and wouldn’t let that character near. Ideally a silent partner would probably be the best bet, but I’d rather stay as we are for a few years then have someone who’d come in and change the whole vibe of the club. Something like the Dagenham/ Tim Howard deal would be ideal
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Post by royalstone on Nov 17, 2019 21:45:09 GMT
In an ideal world any new investor would have emotional ties/connections to either the town or the football club but few names with deep enough pockets come to mind. Maybe Pat Gallagher, who made his fortune in the area, could be persuaded to buy a stake in the club ? For now he has been content just having naming rights for the ground, not that I blame him.
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