Companies House documents

[boabyarsebiscuit]

Checks and balances are fine. Right now everything seems to be going the right way with Ms Budge and the FOH. Long may it continue.

[Footballfirst]

For those who would support FF and vote him on the board, I'd like to place myself in direct opposition.

 

I find negative questioning of completely sensible things like the 'deal' we have to be nothing more than pedantic.

 

We - the foh members - will be paying Anne the 2.5m she put up personally plus a tiny amount of interest. That's the cost of getting the club. All of the other pledges we have made, would have made were needed to get the club on an even keel anyway, and make waiting the deal, sensible.

 

Foh, at the time would have contacted Anne and said "will you help us out". She'll have replied "no problem, but you cant guarantee my money back until the club is completely back on its feet. So, if the fans want to own the club, they'll need to meet the costs of getting back to the top and making the club sustainable....they'd have to do that tomorrow, even if you had the 2.5m to buy these shares yourselves, right now. So, I, for free, will set up and run the club. I'll use my business back ground to get a board together that will be the envy of every club in scotland. You get members and pledges running. If I do my part and you do yours, we'll have a successful club that makes more money than it has before, more people will want to watch us, hat will get even more people investing in foh, and on those terms, Heart of Midlothian will be 'in the fans hands' sooner than expected, and I'm the best health of almost all of scottish football."

 

"Deal?"

 

"Yes. It's a deal. Thanks Anne."

 

And the rest.....is history. Take my pledge until I die. As long as every penny is absolutely required, and stays in gorgie, I trust my fellow pledgers, the fans and the board.

 

Ok I'll give you an alternative version of how the deal was achieved.

 

FOH: Any chance of you giving us a loan to fund a CVA and the purchase of the club.

AB: How much do you need

FOH: ?2.5M

AB: I could do that, but it will cost you though.

FOH: How much?

AB: About ?8M? That should cover arrangement fees, interest, working capital injections while I own the club, loan repayments. I'll need full security too. And I'll be the chairman. And I'll have a veto over your Board members. As long as you keep up your payments, I could hand over around 75% of the shares in around 5 years time, while I keep 13% for myself.

FOH: That sounds a bit steep

AB: Take it or leave it.

FOH: Where do I sign?

 

The reality will lie between the two scenarios, but my view of the deal is closer to my version than yours.

[Unknown user]

Checks and balances are fine.

 

Vital in fact

 

Right now everything seems to be going the right way with Ms Budge and the FOH. Long may it continue.

 

I agree, but there is never any guarantee of how people will act in the future and we've come too close to the brink to take the future of the club on trust again

[Thomaso]

 

 

 

I've expressed them many times in previous posts. They mainly relate to the structure of the deal. i.e. the 5 year time scale and the ?8M potential cost to fans before FOH even gets to own even one share. Failure to achieve promotion within two years would also create risks that fan ownership may never be achieved if there was a significant drop off in pledges. Lets hope that my concerns are not tested.

 

 

I am concerned that water levels rise dramatically and Tynie is swept away in a tsunami with me in it.......

[fabienleclerq]

 

 

For those who would support FF and vote him on the board, I'd like to place myself in direct opposition.

 

I find negative questioning of completely sensible things like the 'deal' we have to be nothing more than pedantic.

 

We - the foh members - will be paying Anne the 2.5m she put up personally plus a tiny amount of interest. That's the cost of getting the club. All of the other pledges we have made, would have made were needed to get the club on an even keel anyway, and make waiting the deal, sensible.

 

Foh, at the time would have contacted Anne and said "will you help us out". She'll have replied "no problem, but you cant guarantee my money back until the club is completely back on its feet. So, if the fans want to own the club, they'll need to meet the costs of getting back to the top and making the club sustainable....they'd have to do that tomorrow, even if you had the 2.5m to buy these shares yourselves, right now. So, I, for free, will set up and run the club. I'll use my business back ground to get a board together that will be the envy of every club in scotland. You get members and pledges running. If I do my part and you do yours, we'll have a successful club that makes more money than it has before, more people will want to watch us, hat will get even more people investing in foh, and on those terms, Heart of Midlothian will be 'in the fans hands' sooner than expected, and I'm the best health of almost all of scottish football."

 

"Deal?"

 

"Yes. It's a deal. Thanks Anne."

 

And the rest.....is history. Take my pledge until I die. As long as every penny is absolutely required, and stays in gorgie, I trust my fellow pledgers, the fans and the board.

 

I don't disagree with a lot of what you say, I'm in for my DD as long as im here too but im nowhere near clever enough to question the way things are run. I think it's to our advantage we have fans like FF who are able to pose questions about the way things are done. He's not particularly negative about it either.

[Unknown user]

I don't disagree with a lot of what you say, I'm in for my DD as long as im here too but im nowhere near clever enough to question the way things are run. I think it's to our advantage we have fans like FF who are able to pose questions about the way things are done. He's not particularly negative about it either.

Well said

[Thomaso]

 

 

 

Ok I'll give you an alternative version of how the deal was achieved.

 

FOH: Any chance of you giving us a loan to fund a CVA and the purchase of the club.

AB: How much do you need

FOH: ?2.5M

AB: I could do that, but it will cost you though.

FOH: How much?

AB: About ?8M? That should cover arrangement fees, interest, working capital injections while I own the club, loan repayments. I'll need full security too. And I'll be the chairman. And I'll have a veto over your Board members. As long as you keep up your payments, I could hand over around 75% of the shares in around 5 years time, while I keep 13% for myself.

FOH: That sounds a bit steep

AB: Take it or leave it.

FOH: Where do I sign?

 

The reality will lie between the two scenarios, but my view of the deal is closer to my version than yours.

 

 

Alternative version -

 

 

Brian Jackson to AB: Any chance of you giving FoH a loan to fund a CVA and the purchase of the Club?

 

AB to Brian Jackson: Not interested

 

Brian Jackson to the press: I am sorry to confirm the liquidation of Heart of Midlothian Football Club

[fabienleclerq]

 

Well said

 

The bit about not being clever enough?!

[fabienleclerq]

 

 

 

 

Alternative version -

 

 

Brian Jackson to AB: Any chance of you giving FoH a loan to fund a CVA and the purchase of the Club?

 

AB to Brian Jackson: Not interested

 

Brian Jackson to the press: I am sorry to confirm the liquidation of Heart of Midlothian Football Club

We all know that's shite, if they'd said we need 2.5m we would've raised it.

[DETTY29]

It should be remembered that the value of the CVA was not ?2.5m but IIRC ?5.5m.

 

When preferred bidder status was set up, that was circa what all 3 potential bidders were putting up to continue the business as a going concern.

[tamflogel]

 

The reality will lie between the two scenarios, but my view of the deal is closer to my version than yours.

 

FF, are you putting yourself forward for the FOH board?

 

You'd get my vote based just on your post content here, and I have no idea of your background, experience or occupation.

[Thomaso]

 

We all know that's shite, if they'd said we need 2.5m we would've raised it.

 

 

You are the one talking "shite" my friend.

 

The FoH/Ann Budge offer was the ONLY valid deal in town. Fact. Source - direct from Brian Jackson

[Unknown user]

The bit about not being clever enough?!

 

[The Treasurer]

We all know that's shite, if they'd said we need 2.5m we would've raised it.

Just out of interest, how would we have done that. Bearing in mind that most fans had stretched their finances to the limit just to keep the club limping along.

[Thomaso]

 

Just out of interest, how would we have done that. Bearing in mind that most fans had stretched their finances to the limit just to keep the club limping along.

 

 

I await his response to this

[Footballfirst]

FF, are you putting yourself forward for the FOH board?

 

You'd get my vote based just on your post content here, and I have no idea of your background, experience or occupation.

 

No danger. FoH has little to do for the next three years other than to raise money to help pay wages etc. Once they get round to begin paying back the Bidco loan, they can start thinking about how the club will be run.

[RealMaroonCF]

 

We all know that's shite, if they'd said we need 2.5m we would've raised it.

 

Honestly. This is the sort of thing going on in 'the rangers' debacle at the moment!

 

Take a breath. And think. Think logically.

 

We needed someone with the cash available there and then! We didn't have 'time to raise it'. It had to be proven the funds were there. That was the stipulation. That's a fact.

 

So, Anne guaranteed the funds. The next part was that for the 2.5m deal to be a goer, there had to be working capital to get started. That's where the initial 1m we put in the foh coffers band in.

 

I'm honestly worried that people see all of the other money as up saying 8m for something that cost 2.5. What's that all about!

 

Let's say we pay Anne and she walks away. We'll still be pledging the next day. The club needs that money. We could choose not to pledge and cut back on whatever he 1.4m a year is helping to pay for...maybe prince. Gomis etc. With those cutbacks will we be selling out every week?

 

Did you all see the accounts that bdo published? Money flies out football clubs, often for silly things. But rarely for insignificant amounts! The fan in the street seems to think we just add up the first team wages and that's it, everything else is profit, let's build a new stand.

 

I'm thankful we are where we are. I truly hope we aren't burning through all of the foh input, and that other streams are making up for it so that th foh money is 'building'. We'll need to wait and see the accounts though. In certainly not going question getting in players like prince and gomis, even if it's costing a bit more than we hoped. We certainly need a slight boost to get up out of this league and we should accept that.

 

Overall though, I'd honestly like to avoid in fighting. In oot saying let's be yes men. Rather, let's get the real story, the facts, presented, and let's go fro there.

 

 

[Francis Albert]

 

It should be remembered that the value of the CVA was not ?2.5m but IIRC ?5.5m.

 

When preferred bidder status was set up, that was circa what all 3 potential bidders were putting up to continue the business as a going concern.

That is simply wrong. The value of the CVA was ?2.5m. The rest of the ?6.3m we pay (on top of STs etc) is what is needed in Ann's judgement to "put the club on an even keel" (whatever exactly that means).

Apparently that's needed even if, as seems likely at present, revenue streams are well ahead of budget (quite possibly by more than our ?1.4m per yearsubsidy).

 

And someone referred to a "a little bit of interest". Well maybe 6% per annum and getting on for half a million is "little in Ann's world.

 

On the question of the elected board member, what would be the point of a new director who simply cheer led for the rest of the board?

[Thomaso]

 

 

 

Honestly. This is the sort of thing going on in 'the rangers' debacle at the moment!

 

Take a breath. And think. Think logically.

 

We needed someone with the cash available there and then! We didn't have 'time to raise it'. It had to be proven the funds were there. That was the stipulation. That's a fact.

 

So, Anne guaranteed the funds. The next part was that for the 2.5m deal to be a goer, there had to be working capital to get started. That's where the initial 1m we put in the foh coffers band in.

 

I'm honestly worried that people see all of the other money as up saying 8m for something that cost 2.5. What's that all about!

 

Let's say we pay Anne and she walks away. We'll still be pledging the next day. The club needs that money. We could choose not to pledge and cut back on whatever he 1.4m a year is helping to pay for...maybe prince. Gomis etc. With those cutbacks will we be selling out every week?

 

Did you all see the accounts that bdo published? Money flies out football clubs, often for silly things. But rarely for insignificant amounts! The fan in the street seems to think we just add up the first team wages and that's it, everything else is profit, let's build a new stand.

 

I'm thankful we are where we are. I truly hope we aren't burning through all of the foh input, and that other streams are making up for it so that th foh money is 'building'. We'll need to wait and see the accounts though. In certainly not going question getting in players like prince and gomis, even if it's costing a bit more than we hoped. We certainly need a slight boost to get up out of this league and we should accept that.

 

Overall though, I'd honestly like to avoid in fighting. In oot saying let's be yes men. Rather, let's get the real story, the facts, presented, and let's go fro there.

 

 

A thought out and sensible post - however stand by for "that's shite" from some of our members.

[Thomaso]

 

 

 

No danger. FoH has little to do for the next three years other than to raise money to help pay wages etc. Once they get round to begin paying back the Bidco loan, they can start thinking about how the club will be run.

 

 

Just as a matter of interest - are you happy with the way the Club is currently run?

[DETTY29]

 

 

Honestly. This is the sort of thing going on in 'the rangers' debacle at the moment!

 

Take a breath. And think. Think logically.

 

We needed someone with the cash available there and then! We didn't have 'time to raise it'. It had to be proven the funds were there. That was the stipulation. That's a fact.

 

So, Anne guaranteed the funds. The next part was that for the 2.5m deal to be a goer, there had to be working capital to get started. That's where the initial 1m we put in the foh coffers band in.

 

I'm honestly worried that people see all of the other money as up saying 8m for something that cost 2.5. What's that all about!

 

Let's say we pay Anne and she walks away. We'll still be pledging the next day. The club needs that money. We could choose not to pledge and cut back on whatever he 1.4m a year is helping to pay for...maybe prince. Gomis etc. With those cutbacks will we be selling out every week?

 

Did you all see the accounts that bdo published? Money flies out football clubs, often for silly things. But rarely for insignificant amounts! The fan in the street seems to think we just add up the first team wages and that's it, everything else is profit, let's build a new stand.

 

I'm thankful we are where we are. I truly hope we aren't burning through all of the foh input, and that other streams are making up for it so that th foh money is 'building'. We'll need to wait and see the accounts though. In certainly not going question getting in players like prince and gomis, even if it's costing a bit more than we hoped. We certainly need a slight boost to get up out of this league and we should accept that.

 

Overall though, I'd honestly like to avoid in fighting. In oot saying let's be yes men. Rather, let's get the real story, the facts, presented, and let's go fro there.

While I agree with most of your post re what it takes to run a club, the only way FoH can build a fund is by seeking more funds via pledges.

 

FoH has a quarterly (I think) financial commitment to Hearts and AB when loan repayments pretty much equal to current pledges.

 

Neither the club nor AB has any commitment to use excess club funds back to FOH or repay the loans.

[Thomaso]

 

 

That is simply wrong. The value of the CVA was ?2.5m. The rest of the ?6.3m we pay (on top of STs etc) is what is needed in Ann's judgement to "put the club on an even keel" (whatever exactly that means).

Apparently that's needed even if, as seems likely at present, revenue streams are well ahead of budget (quite possibly by more than our ?1.4m per yearsubsidy).

 

And someone referred to a "a little bit of interest". Well maybe 6% per annum and getting on for half a million is "little in Ann's world.

 

On the question of the elected board member, what would be the point of a new director who simply cheer led for the rest of the board?

 

 

Nobody wants a 'cheer leader' however the last thing we want is someone with an anti FoH agenda who just wants to cause disruption - are you volunteering Franny? ;-)

[Francis Albert]

 

 

 

 

Nobody wants a 'cheer leader' however the last thing we want is someone with an anti FoH agenda who just wants to cause disruption - are you volunteering Franny? ;-)

I agree we don't want anyone with an "anti-FoH agenda" but given that every candidate will be a member helping to fund FoH I think that's unlikely.

 

It will also be difficult for a single director in an otherwise self-selected board to cause disruption even if he or she wanted to. Directors are bound by strict confidentiality rules and

will only be able to "go public" to the extent the rest of the board agrees. That's one of the problems with being a token "independent, elected" director. Still worth having, and I'd have thought

more valuable for us and the board as whole if he or she asks awkward questions.

[RealMaroonCF]

This conversation should make up aware of the differences in opinions and agendas of different factions of the support.

 

Let's hope that our foh member of the board, whoever it is, can be tolerant to all opinions and be subjective when it comes to discussions so that the views of all supporters are heard.

 

We must remember our commitment is to the longevity of our club. We don't want to start demanding success and this and that. If those things come, then great. If we have to wait so be it. This club has been to the brink a few times and our absolute number one objective is avoiding that happening again.

 

Peace.

[Thomaso]

 

I agree we don't want anyone with an "anti-FoH agenda" but given that every candidate will be a member helping to fund FoH I think that's unlikely.

 

It will also be difficult for a single director in an otherwise self-selected board to cause disruption even if he or she wanted to. Directors are bound by strict confidentiality rules and

will only be able to "go public" to the extent the rest of the board agrees. That's one of the problems with being a token "independent, elected" director. Still worth having, and I'd have thought

more valuable for us and the board as whole if he or she asks awkward questions.

 

Agreed

[Footballfirst]

Just as a matter of interest - are you happy with the way the Club is currently run?

 

The club is being run very professionally at the moment and I have never criticised Ann Budge's ability to do so. Her task is made easier with access to significant funds from FOH that other clubs don't have and with other match day revenues that are in excess of the most optimistic forecasts, such is the feel good factor at the club since it exited administration.

 

I would be interested to find out a bit more about how that extra revenue is being used. Perhaps more information will be forthcoming from the Q&A that Ann is doing for JKB.

[Footballfirst]

This conversation should make up aware of the differences in opinions and agendas of different factions of the support.

 

Let's hope that our foh member of the board, whoever it is, can be tolerant to all opinions and be subjective when it comes to discussions so that the views of all supporters are heard.

 

We must remember our commitment is to the longevity of our club. We don't want to start demanding success and this and that. If those things come, then great. If we have to wait so be it. This club has been to the brink a few times and our absolute number one objective is avoiding that happening again.

 

Peace.

 

Well said.

[DETTY29]

That is simply wrong. The value of the CVA was ?2.5m. The rest of the ?6.3m we pay (on top of STs etc) is what is needed in Ann's judgement to "put the club on an even keel" (whatever exactly that means).

Apparently that's needed even if, as seems likely at present, revenue streams are well ahead of budget (quite possibly by more than our ?1.4m per yearsubsidy).

 

And someone referred to a "a little bit of interest". Well maybe 6% per annum and getting on for half a million is "little in Ann's world.

 

buy

I may have got the exact terminology wrong but when preferred bidder status was up for tender the initial FoH package was ?5.5m as the requirement to pay a CVA, get the business back on an even keel, get a future strategy in place and also mitigate the risk of it getting back in to financial difficulties. And while not formally part of the offer, the package also had to take into the aspirations and demands of the wider fan base.

 

I'm with you and FF on the governance side of things and how changes were made but we are all kidding ourselves on if we think the Hearts fans have the patience to spend much more than a couple of years in the Championship, or worse.

 

Of course it will be interesting where we will be in 2 years time if we are still in the Championship and the loan repayments about to start.

 

But at least with the initial working capital we will have put many of the building blocks in place, which if the loan was repaid first instead we could be sitting here in 2 years time in a fairly grim state.

[Gibbster]

A thread started based on ignorance of events that were made clear months ago descends into pointless fighting. A conservative business plan is being executed to deliver a stable self sufficient club where's the issue. I can't believe people make a point of commending someone for creating paranoid arguments and praise them for asking questions that are at best spurious and irrelevant. Some people just seem to be anti-establishment whatever the establishment, it's a sad mindset.

 

The questions that are relevant and need to be asked will be by the relevant people; Board members, Auditors etc

 

Any suggestion that Anne is doing this for financial gain is nefarious and I feel for the minds of those alluding to such.

 

I hope Anne stays on board for a very long time because I'm concerned about what a democratic process will deliver us in time

[Francis Albert]

 

 

I may have got the exact terminology wrong but when preferred bidder status was up for tender the initial FoH package was ?5.5m as the requirement to pay a CVA, get the business back on an even keel, get a future strategy in place and also mitigate the risk of it getting back in to financial difficulties. And while not formally part of the offer, the package also had to take into the aspirations and demands of the wider fan base.

 

I'm with you and FF on the governance side of things and how changes were made but we are all kidding ourselves on if we think the Hearts fans have the patience to spend much more than a couple of years in the Championship, or worse.

 

Of course it will be interesting where we will be in 2 years time if we are still in the Championship and the loan repayments about to start.

 

But at least with the initial working capital we will have put many of the building blocks in place, which if the loan was repaid first instead we could be sitting here in 2 years time in a fairly grim state.

Fair enough. The ?5.5m rings a bell. I have no problem with the concept (plucking numbers from the air) that the business plan "worst case" revenues from normal income stream were say ?6m p.a and Ann felt she needed ?7.4m a year to get the club in shape and get back in the top tier in say not more than 2 years. I am sure Ann is doing this not for personal gain and that if normal revenues turn out to be say ?7.5m

(or more)she will consider whether the ?1.4m continues to be best used to subsidise the club in the short term or pay back the loan to Bidco more quickly and save a few hundred thousand in interest. In either event I hope Ann continues to run the club for 5 years and beyond if she wants.

[Francis Albert]

 

A thread started based on ignorance of events that were made clear months ago descends into pointless fighting. A conservative business plan is being executed to deliver a stable self sufficient club where's the issue. I can't believe people make a point of commending someone for creating paranoid arguments and praise them for asking questions that are at best spurious and irrelevant. Some people just seem to be anti-establishment whatever the establishment, it's a sad mindset.

 

The questions that are relevant and need to be asked will be by the relevant people; Board members, Auditors etc

 

Any suggestion that Anne is doing this for financial gain is nefarious and I feel for the minds of those alluding to such.

 

I hope Anne stays on board for a very long time because I'm concerned about what a democratic process will deliver us in time

And once again a thread in which for the most part (there are always exceptions) FoH, the club and their interaction is discussed in perfectly reasonable terms is described as "pointless fighting".

Agreed some of this discussion gets repetitive, but that's true of maybe 90% of JKB! And the topic is probably more important than 90% of what's on JKB.

[jambos are go!]

I presently pay ?240 a year to FOH which I view as just as an addition to my Season Ticket cost with the added benefit of no VAT being payable to HMRC as would be the case if it was just added to the cost of a season ticket. Worth around ?300 per season to the Club through FOH. It makes the cost of watching/supporting Hearts very expensive by any measure particularly in the Championship. I'm happy to do so till the club gets back on its feet probably till the stadium issue is resolved through Main Stand Replacement or re-location. At least 5 years at I would have thought. After that I might review the situation.

 

What I would lie to see beyond the current rescue plan is FOH money being used to reduce ticket prices to make them more affordable. Others may take a different view. Remember as I said earlier a major benefit of FOH donations is that they don't attract VAT because you are in fact getting nothing tangible for your Money. VAT is a sales Tax and you are not buying anything. If the club is on an even keel there has to be a question about continuing to ask for FOH donations (particularly when times are hard). But that is some time ahead

[Chris Benoit]

 

And once again a thread in which for the most part (there are always exceptions) FoH, the club and their interaction is discussed in perfectly reasonable terms is described as "pointless fighting".

Agreed some of this discussion gets repetitive, but that's true of maybe 90% of JKB! And the topic is probably more important than 90% of what's on JKB.

 

 

Spot on Francis. I thought the thread had been mostly civil and informative until the one you quoted funnily enough.

[Footballfirst]

Spot on Francis. I thought the thread had been mostly civil and informative until the one you quoted funnily enough.

 

Agreed.

 

My initial query re the position with the share issue and failure to lodge documents with Companies House has also been lost in the subsequent discussions re FOH which wasn't even part of the OP.

[Winston Ingram]

When the match programme carries a feature of "Meet the new board" and Craig Levein is one of those named/explained, I hardly think it's a shock to see it again that he is... on the board!!

[Don Dan]

I think both sides of the arguments contain very help views. For me I'm happy where we are at the moment and I am also happy that the ?1.4m per year is being used for the club and more importantly the future well being of the club.

I like others can see that our current revenue generation must or is exceeding expectations and I would be interested to see how that excess is being used or if it is as AB previously suggested being put aside for the future. Her plan was to hand over the club in sound and financially positive place. ie no debts and a (healthy) bank balance. I'm sure and hope when 12 months have past we will get a "where we are statement" and how that will affect the future financing of the club. I'm also positive that the extra monies we are generating will not be squandered or blown away on stupid whims. That's the confidence I get from the current caretakers of our club.

[Thomaso]

 

I presently pay ?240 a year to FOH which I view as just as an addition to my Season Ticket cost with the added benefit of no VAT being payable to HMRC as would be the case if it was just added to the cost of a season ticket. Worth around ?300 per season to the Club through FOH. It makes the cost of watching/supporting Hearts very expensive by any measure particularly in the Championship. I'm happy to do so till the club gets back on its feet probably till the stadium issue is resolved through Main Stand Replacement or re-location. At least 5 years at I would have thought. After that I might review the situation.

 

What I would lie to see beyond the current rescue plan is FOH money being used to reduce ticket prices to make them more affordable. Others may take a different view. Remember as I said earlier a major benefit of FOH donations is that they don't attract VAT because you are in fact getting nothing tangible for your Money. VAT is a sales Tax and you are not buying anything. If the club is on an even keel there has to be a question about continuing to ask for FOH donations (particularly when times are hard). But that is some time ahead

 

 

Can't agree that reducing ticket prices is a priority. We have excellent ST and walk up sales, and the way to keep that going is to wisely invest future FoH money in the quality on the park.

[boabyarsebiscuit]

Can't agree that reducing ticket prices is a priority. We have excellent ST and walk up sales, and the way to keep that going is to wisely invest future FoH money in the quality on the park.

Agree. We're selling out in the Championship, so pricing can't be an issue. It's not like we're Hibs and have to give away free tickets.

[1874robbo]

 

That is simply wrong. The value of the CVA was ?2.5m. The rest of the ?6.3m we pay (on top of STs etc) is what is needed in Ann's judgement to "put the club on an even keel" (whatever exactly that means).

Apparently that's needed even if, as seems likely at present, revenue streams are well ahead of budget (quite possibly by more than our ?1.4m per yearsubsidy).

 

And someone referred to a "a little bit of interest". Well maybe 6% per annum and getting on for half a million is "little in Ann's world.

 

On the question of the elected board member, what would be the point of a new director who simply cheer led for the rest of the board?

 

I'll trust Anne budge judgement over yours FA

[Ulysses]

I just think there is a fine line between questioning and nitpicking. This line has been crossed or at least blurred too often IMO.

 

I think there is a fine line between responding to questions and trying to silence or shout down the people asking the questions. This line has been crossed or at least blurred too often, IMO - including in this thread.

 

More power to the elbows of people like FA and FF for asking questions, and likewise those who give answers to or debate those questions. If people can do all that without the need for personalising the debate, so much the better.

[1874robbo]

 

 

I think there is a fine line between responding to questions and trying to silence or shout down the people asking the questions. This line has been crossed or at least blurred too often, IMO - including in this thread.

 

More power to the elbows of people like FA and FF for asking questions, and likewise those who give answers to or debate those questions. If people can do all that without the need for personalising the debate, so much the better.

 

I don't think anyone has personalised the debate uly I just see grown ups having a healthy debate.

[Francis Albert]

 

 

 

I'll trust Anne budge judgement over yours FA

As do I 1874r - see my post #80. A small point and I doubt she gives a toss ... but I even have enough respect for her to spell her name correctly, which for some reason many of her more belligerent fans

seem incapable of.

[Francis Albert]

 

 

 

 

 

Can't agree that reducing ticket prices is a priority. We have excellent ST and walk up sales, and the way to keep that going is to wisely invest future FoH money in the quality on the park.

Agreed. Where are we going to put these extra fans reduced prices would attract?

[1874robbo]

 

As do I 1874r - see my post #80. A small point and I doubt she gives a toss ... but I even have enough respect for her to spell her name correctly, which for some reason many of her more belligerent fans

seem incapable of.

 

I do apologise for my incorrect spelling of her name.

It certainly wasn't done as a lack of respect but good to see my post touched a nerve

[Francis Albert]

 

 

 

I do apologise for my incorrect spelling of her name.

It certainly wasn't done as a lack of respect but good to see my post touched a nerve

I am not sure what nerve it touched - it certainly wasn't one of mine!

[1874robbo]

 

I am not sure what nerve it touched - it certainly wasn't one of mine!

 

Obviously

[Special Agent Dale Cooper]

I think there is a fine line between responding to questions and trying to silence or shout down the people asking the questions. This line has been crossed or at least blurred too often, IMO - including in this thread.

 

More power to the elbows of people like FA and FF for asking questions, and likewise those who give answers to or debate those questions. If people can do all that without the need for personalising the debate, so much the better.

 

 

Bang on the cash, as per usual.

[fabienleclerq]

Just out of interest, how would we have done that. Bearing in mind that most fans had stretched their finances to the limit just to keep the club limping along.

 

I'm just of the opinion if they gave us a target we would've reached it. If FoH said we need ?2.5m and the club won't go burst I think we could've raised it. As it happens Mrs Budge put it up and we get the bonus of he expertise and not a big standard football man in charge.

 

Thomaso dry your eyes mate it's only a football forum.

[Francis Albert]

 

 

 

Obviously

I am not sure why I bother but ?20 quid to FoH if you can find a post where I criticised Ann's judgement. I've tried this sort of thing a few times without once having to pay out!

[1874robbo]

 

I am not sure why I bother but ?20 quid to FoH if you can find a post where I criticised Ann's judgement. I've tried this sort of thing a few times without once having to pay out!

 

Don't bother then.