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Post by glosblue on Mar 15, 2020 11:09:19 GMT
It's likely to be some time before we have another home game, and therefore any injection of funds. Most businesses fail because they run out of cash, and the papers are full of news about small businesses (like restaurants and B&B's) potentially going under in 6 weeks or so, because the bills keep coming in but the income does not. We are a small/medium sized business too.
So, as co-owners of CFC, I'd like us to be kept informed of our financial position please. How much £cash reserve do we have? At current rates of outgoings - presumably almost all of which is staff costs - when would that cash run out? Can we manage until the start of next season, which conceivably could be the earliest we get back playing, or would we go under before then?
What I don't want to happen is there to be silence on this matter by the club for weeks, and then a mad panic, in which we have a few days to raise a large amount or go bust (like last time). If we are kept informed now and on a regular basis, we can see the position, and act earlier if needed. If, for example, we could all see that we have c.10 weeks cash only, we could debate bringing in a weekly donation fund, so people could give a small amount each week now to tide us over, rather than an unreasonably large sum in one go later. Or we could offer a 'next season voucher' - pay £100 now and get £120 off your next season ticket. Or something - this thread isn't meant to provide the solutions, it's asking for the information. I appreciate we are run largely by volunteers, but we MUST understand our cash position, so for goodness sake let's share it.
If we just assume things will be back to normal in a couple of weeks and that the outstanding home games will all be played with just a short delay then we are stupid, and not planning properly. Don't let this thread be something we look back on and think 'why didn't we plan better back then' as we survey the ruins of our dead club. This is by far the most important issue we face right now - not whether you like the managers, not if player X is any good, not if we get to the play-offs or not, not that we hate our neighbours etc etc. If we don't manage this well over the next few months none of that will matter, so let's all be informed and work together based on that information.
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Post by Deleted on Mar 15, 2020 11:22:14 GMT
I think it would be sensible for us to have this information now. I know not every body pays to be a member of cfu. It is simple with direct debit as little as £2a month. I pay £10 a month or £2..50 a week. Imagine what we could do if everyone bought in to this. About half a pint a week. It doesn't even have to be paid back.
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Post by Frank Owen’s Paintbrush on Mar 15, 2020 11:25:45 GMT
Jeremy Corbyn has written to Boris Johnson calling for emergency support for people affected by the coronavirus epidemic, including rent deferrals and mortgage holidays. Hopefully any action the government takes (if they even do) will also cover small businesses such as ourselves.
At least there are ways and means for supporters to donate to the club - hopefully enough people can donate their usual match day spends as it would go some way to helping out. Hopefully rent and rates and general bills relief would come in too. Perhaps the club could really push CFU membership renewals on the socials too.
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Post by Deleted on Mar 15, 2020 11:40:23 GMT
You hadn't renewed your membership if you remember. That's why you couldn't vote on the new strip.
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Post by superman on Mar 15, 2020 11:44:19 GMT
I expect football clubs would rightly be a low priority for emergency support in the short term. It will be down to the owners to try to sustain their businesses. Mark Maguire, bless him, in a radio interview yesterday said that the Hartlepool chairman has agreed to fund the shortfall there, but doubted that all clubs at the lower levels of EFL and National League would be so fortunate. As a fan owned club it will be up to us. I have confidence that the current board will keep us informed so that where possible we can help to maintain our club.
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Post by Churton Blue on Mar 15, 2020 11:49:08 GMT
It's likely to be some time before we have another home game, and therefore any injection of funds. Most businesses fail because they run out of cash, and the papers are full of news about small businesses (like restaurants and B&B's) potentially going under in 6 weeks or so, because the bills keep coming in but the income does not. We are a small/medium sized business too. So, as co-owners of CFC, I'd like us to be kept informed of our financial position please. How much £cash reserve do we have? At current rates of outgoings - presumably almost all of which is staff costs - when would that cash run out? Can we manage until the start of next season, which conceivably could be the earliest we get back playing, or would we go under before then? What I don't want to happen is there to be silence on this matter by the club for weeks, and then a mad panic, in which we have a few days to raise a large amount or go bust (like last time). If we are kept informed now and on a regular basis, we can see the position, and act earlier if needed. If, for example, we could all see that we have c.10 weeks cash only, we could debate bringing in a weekly donation fund, so people could give a small amount each week now to tide us over, rather than an unreasonably large sum in one go later. Or we could offer a 'next season voucher' - pay £100 now and get £120 off your next season ticket. Or something - this thread isn't meant to provide the solutions, it's asking for the information. I appreciate we are run largely by volunteers, but we MUST understand our cash position, so for goodness sake let's share it. If we just assume things will be back to normal in a couple of weeks and that the outstanding home games will all be played with just a short delay then we are stupid, and not planning properly. Don't let this thread be something we look back on and think 'why didn't we plan better back then' as we survey the ruins of our dead club. This is by far the most important issue we face right now - not whether you like the managers, not if player X is any good, not if we get to the play-offs or not, not that we hate our neighbours etc etc. If we don't manage this well over the next few months none of that will matter, so let's all be informed and work together based on that information. Excellent post which makes a massive amount of sense. The club need to make a statement in the next five or six days in my opinion because as co owners we have to be kept informed. It is hard to see us playing another home match in the next six weeks and sadly it could be much longer than that. |
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Post by banksy on Mar 15, 2020 12:18:35 GMT
Morning all.
As I'm sure you can all appreciate, this is a fast moving situation, with changes happening very quickly.
We've been working on some things all morning to get a statement out on the website and social media / press early this afternoon.
We will most definitely keep everyone updated on the situation via the official channels and here too.
Thanks to everyone that has so far contributed to this financial challenge. It's also a great time to sign up to City Fans United, and help that way too, if not already a member.
Thanks Jeff
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Post by dmcnally on Mar 15, 2020 12:28:54 GMT
The elephant in the room here is that we received a £1,000,000 donation recently, spread over 3 years yes but we’ll have received 2/3 of it by now? Plus our own reserve c£100k?
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Post by Harry Lime on Mar 15, 2020 12:45:42 GMT
The elephant in the room here is that we received a £1,000,000 donation recently, spread over 3 years yes but we’ll have received 2/3 of it by now? Plus our own reserve c£100k? Have we received that much though? Our wage bill is around £350km based on expected income. That is in line with usual budget. Not sure SM has added another £330k to that. If he has, then where is it going? Haven't seen any sign of that level of extra income. |
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Post by dmcnally on Mar 15, 2020 12:51:59 GMT
The elephant in the room here is that we received a £1,000,000 donation recently, spread over 3 years yes but we’ll have received 2/3 of it by now? Plus our own reserve c£100k? Have we received that much though? Our wage bill is around £350km based on expected income. That is in line with usual budget. Not sure SM has added another £330k to that. If he has, then where is it going? Haven't seen any sign of that level of extra income. They’ve not spent any of it (or very little) yet, I put a link on here to a DHW interview a few weeks back on Dee 106.3 where he said they’d be drawing up some plans but they had to be in line with what SM wanted to be doing. No point investing in a lift in the main stand, if SM is wanting to knock the stand down etc |
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Post by agl on Mar 15, 2020 14:12:24 GMT
Just received a batch of Easter raffle tickets. We can all do our bit by selling/ buying a few. The club will post some out if you get in touch and you send back a cheque and stubs.
I'm afraid the buck stops with all of us if we want a club to support. No point whingeing later.
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Post by cfcfundraising on Mar 15, 2020 15:33:05 GMT
Thanks agl - indeed, our plan was to sell raffle tickets on matchdays leading up to the draw on Easter Monday. As it now looks unlikely that those matches will go ahead, we have made raffle tickets available to buy online via the club shop: www.chesterfcretail.com/collections/all-stars-match-tickets/products/easter-raffle-ticketThis money could be vital for the club over the coming months and the good thing is, you could walk away with a £1,000 or a family season ticket on Easter Monday (+ 50 other prizes)! |
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Post by billyw on Mar 15, 2020 17:13:34 GMT
It's likely to be some time before we have another home game, and therefore any injection of funds. Most businesses fail because they run out of cash, and the papers are full of news about small businesses (like restaurants and B&B's) potentially going under in 6 weeks or so, because the bills keep coming in but the income does not. We are a small/medium sized business too. So, as co-owners of CFC, I'd like us to be kept informed of our financial position please. How much £cash reserve do we have? At current rates of outgoings - presumably almost all of which is staff costs - when would that cash run out? Can we manage until the start of next season, which conceivably could be the earliest we get back playing, or would we go under before then? What I don't want to happen is there to be silence on this matter by the club for weeks, and then a mad panic, in which we have a few days to raise a large amount or go bust (like last time). If we are kept informed now and on a regular basis, we can see the position, and act earlier if needed. If, for example, we could all see that we have c.10 weeks cash only, we could debate bringing in a weekly donation fund, so people could give a small amount each week now to tide us over, rather than an unreasonably large sum in one go later. Or we could offer a 'next season voucher' - pay £100 now and get £120 off your next season ticket. Or something - this thread isn't meant to provide the solutions, it's asking for the information. I appreciate we are run largely by volunteers, but we MUST understand our cash position, so for goodness sake let's share it. If we just assume things will be back to normal in a couple of weeks and that the outstanding home games will all be played with just a short delay then we are stupid, and not planning properly. Don't let this thread be something we look back on and think 'why didn't we plan better back then' as we survey the ruins of our dead club. This is by far the most important issue we face right now - not whether you like the managers, not if player X is any good, not if we get to the play-offs or not, not that we hate our neighbours etc etc. If we don't manage this well over the next few months none of that will matter, so let's all be informed and work together based on that information. Brilliant Post. |
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Post by billyw on Mar 15, 2020 17:20:07 GMT
Thanks agl - indeed, our plan was to sell raffle tickets on matchdays leading up to the draw on Easter Monday. As it now looks unlikely that those matches will go ahead, we have made raffle tickets available to buy online via the club shop: www.chesterfcretail.com/collections/all-stars-match-tickets/products/easter-raffle-ticketThis money could be vital for the club over the coming months and the good thing is, you could walk away with a £1,000 or a family season ticket on Easter Monday (+ 50 other prizes)! I don’t use either Apple or Paypal - is there no other way of paying online? |
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Post by mike on Mar 15, 2020 17:24:26 GMT
Thanks agl - indeed, our plan was to sell raffle tickets on matchdays leading up to the draw on Easter Monday. As it now looks unlikely that those matches will go ahead, we have made raffle tickets available to buy online via the club shop: www.chesterfcretail.com/collections/all-stars-match-tickets/products/easter-raffle-ticketThis money could be vital for the club over the coming months and the good thing is, you could walk away with a £1,000 or a family season ticket on Easter Monday (+ 50 other prizes)! I don’t use either Apple or Paypal - is there no other way of paying online? You don't need to have a Paypal account to pay through Paypal. There's an option to pay by debit or credit card. |
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Post by billyw on Mar 15, 2020 18:34:48 GMT
I don’t use either Apple or Paypal - is there no other way of paying online? You don't need to have a Paypal account to pay through Paypal. There's an option to pay by debit or credit card. Thanks for that. |
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Post by Harry Lime on Mar 15, 2020 19:11:01 GMT
Have we received that much though? Our wage bill is around £350km based on expected income. That is in line with usual budget. Not sure SM has added another £330k to that. If he has, then where is it going? Haven't seen any sign of that level of extra income. They’ve not spent any of it (or very little) yet, I put a link on here to a DHW interview a few weeks back on Dee 106.3 where he said they’d be drawing up some plans but they had to be in line with what SM wanted to be doing. No point investing in a lift in the main stand, if SM is wanting to knock the stand down etc Thanks for clarifying that. The SM money may be there for us to use. It just seems to be a never ending wait for some sort of decision. I suspect we are as far away from actually using this money, as we were when the donation was announced. |
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Post by gezzer on Mar 17, 2020 13:26:22 GMT
Any statement yet?
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Post by avfo on Mar 17, 2020 14:32:59 GMT
"We don't have the ability to loan money or go into debt to meet obligations as the Society does not allow for that. We will probably have to use a good chunk of the reserve to see us through a worst case scenario but with that reserve we have a facility that not all football clubs can call upon at our level. That shows how important the fans and fan ownership has been to making sure we are more resilient than some." www.cheshire-live.co.uk/sport/football/chester-fc-chairman-vows-club-17936643 |
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Post by avfo on Mar 17, 2020 15:46:21 GMT
Statement from Barnet FC-
In light of recent events the Club would like to release the following statement.
We are in unprecedented times and as such, certain decisions have been made across the football group to ensure the longevity of Barnet Football Club.
Over the past few days, we have taken emergency measures to preserve the Club and ensure it remains sustainable.
Since relegation, we have seen a general drop in crowd attendances of 50%, whilst general costs have increased resulting in operational losses of approximately £100,000 per month.
The Club budgeted for this cost in the hope of promotion but of course, at the end of April, all of our parachute funding will cease and we need to therefore make savings accordingly.
In addition to these challenges, we have to consider the greater challenge of the impact that Covid-19 will have in the immediate and long-term future.
In order to meet the challenges ahead of us, we will have to dismantle our existing cost structure and look to rebuild for next season with a much leaner cost base.
We have therefore taken the difficult decision to put all Barnet FC staff on notice. This is to include all first team coaching and backroom staff, the Barnet FC Academy and many of the operational staff across all areas of the Club.
Having previously announced that all Academy funding the Club receives from the EFL comes to an end at the end of this season, Academy staff had already been made aware of the situation.
Supporters will understandably want to know how this situation affects our Head Coach, Darren Currie. Darren has a long notice period within his contract and as such, should the season resume, he will remain in charge until at least the end of the season and possibly beyond.
Club Chairman Tony Kleanthous said: “Our greatest concern is that within the UK and across the entire world, people are losing loved ones. Our sympathies and thoughts go out to everyone affected but right now, I have to focus my attention closer to home and look at the impact it’s having on our Club.
“It is my responsibility to ensure Barnet FC continues to survive and remains financially stable and therefore, I have had to make difficult decisions.”
Kleanthous continues: “I have to be open and honest with the staff and it’s been a difficult past few days having to deliver the bad news but it’s something that had to be done.
“I have not had time to think about plans for next season yet but we will have to find a way to move forward based upon our current crowd attendance because existing National League rules limit any signings we can make or players’ salaries we can commit to going forward.
“The knock-on effects are of course heart-breaking for me personally as I am fully aware of how this will impact my phenomenal team of hard-working support staff across the group.”
Much will become clearer in the weeks ahead and the Club will look to regularly update supporters as matters develop.
The Club will make no further comment at this time.
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Post by bluejay on Mar 17, 2020 17:34:20 GMT
I expect that will be the first of many. Very few businesses can survive more than a handful of weeks with no income.
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Post by South Wirral Blue on Mar 17, 2020 17:44:37 GMT
I expect that will be the first of many. Very few businesses can survive more than a handful of weeks with no income. Indeed. We're more sensibly budgeted than they are but nevertheless, it hammers home the importance of CFU donations referenced in the other thread. As a fan owned club we're particularly exposed and responsibility is on us - the fans. Donate whatever you can spare and if you want to take to Twitter afterwards to announce it, crack on! |
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Post by devadiva on Mar 17, 2020 20:30:35 GMT
I think each one of the premier clubs should be made to adopt a team in leagues 1, 2, NL and NLN and NLS and see them through the tough times. A sort of mentoring scheme to prove how committed they are to football as a whole, and dispel the myth that they are all money grabbing bar stewards in it for their own selfishness....discuss.
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Post by banksy on Mar 18, 2020 0:04:01 GMT
Just to keep everyone updated at this time... We are in dialogue with the National League, who are now speaking to all clubs about the current situation. But, we are a proactive club and will be going out there with a few different initiatives in the next few days where we will be asking for fans to support their club wherever possible. We want to try and have some fun whilst raising money so please bear with us whilst we put all that together. Chester Forever. Jeff |
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Post by thetheremin on Mar 18, 2020 1:37:33 GMT
Just received a batch of Easter raffle tickets. We can all do our bit by selling/ buying a few. The club will post some out if you get in touch and you send back a cheque and stubs. I'm afraid the buck stops with all of us if we want a club to support. No point whingeing later. I bought all 20 tickets myself and posted the cheque and stubs back today. If I win the main prize it’s going straight back into the club in some way. |
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Post by sealandender1 on Mar 18, 2020 8:38:40 GMT
Just received a batch of Easter raffle tickets. We can all do our bit by selling/ buying a few. The club will post some out if you get in touch and you send back a cheque and stubs. I'm afraid the buck stops with all of us if we want a club to support. No point whingeing later. I bought all 20 tickets myself and posted the cheque and stubs back today. If I win the main prize it’s going straight back into the club in some way. ✅ |
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Post by Neil Hunt Nonsense Potter on Mar 18, 2020 9:01:34 GMT
Just received a batch of Easter raffle tickets. We can all do our bit by selling/ buying a few. The club will post some out if you get in touch and you send back a cheque and stubs. I'm afraid the buck stops with all of us if we want a club to support. No point whingeing later. I bought all 20 tickets myself and posted the cheque and stubs back today. If I win the main prize it’s going straight back into the club in some way. If I win I will be buying trip wires and flamethrowers for the incoming breakdown in society  |
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Post by rcb on Mar 18, 2020 20:27:08 GMT
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Post by Frank Owen’s Paintbrush on Mar 18, 2020 20:33:48 GMT
Suppose we’ve got Uncle Stu to help out at least.
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Post by trev on Mar 18, 2020 20:46:21 GMT
We clearly have some money generating intiatives either in hand or planned for the short term. But given that we are not that far from when the season would have ended perhaps an earlier than usual season ticket sale for the next season whenever that will begin, would be one way of getting ready cash into club during this crisis?
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