[Search & Destroy]

7000 average attendances and still burning money

[isleaiw1]

Search & Destroy, on 06 October 2023 - 07:46 PM, said:

7000 average attendances and still burning money

Its hard making money from football, isnt it...?

We could always spend less on players and managers, what do you reckon?

[Blue5]

60s 70s Spireite, on 06 October 2023 - 06:54 PM, said:

Full explanation posted up now.
https://chesterfield...general-meeting
New 1.6M investment by Phil and Ashley
£980k of this will be allocated to new A shares
After the share issue, the Trust will own around 55% of the ordinary shares in the club. Phil & Ashley will own around 40% and other supporters just under 5%.
Just over £620,000 of the investment will be for non-voting preference shares held by Phil which will accrue interest at 5%. These shares are redeemable (can be repaid) if the board wish
Funds to go to repaying sums due on external loans and funding current years losses,
“The club is currently undergoing a reorganisation and is working hard to match cash income to outgoings. Rationalising and rebuilding any squad costs money and the club has worked hard to attract the calibre of player that should help us achieve the goal of promotion. In addition, significant cash has been spent on players who are not part of our plans and have permanently left the club. Fortunately this will reduce the long-term cost but does result in a short-term cash drain”

By contrast to the Chairman's & CEO's statements contained within the last set of accounts, we can't knock this press release.

How many club podcasts have we heard, where those who should know better were boasting about the favourable terms associated with external loans? Despite the favourable terms, there was never a business plan that would have delivered sufficient profits to repay the capital.

We are lucky to have Phil and Ashley Kirk involved because without them things would look a lot different. I hope they are enjoying being involved as much as I am watching games and that we can hold their interest for many years to come. That said, I would prefer to see a club which is sustainable and less reliant on their funds.

[60s 70s Spireite]

Blue5, on 06 October 2023 - 08:27 PM, said:

By contrast to the Chairman's & CEO's statements contained within the last set of accounts, we can't knock this press release.

How many club podcasts have we heard, where those who should know better were boasting about the favourable terms associated with external loans? Despite the favourable terms, there was never a business plan that would have delivered sufficient profits to repay the capital.

We are lucky to have Phil and Ashley Kirk involved because without them things would look a lot different. I hope they are enjoying being involved as much as I am watching games and that we can hold their interest for many years to come. That said, I would prefer to see a club which is sustainable and less reliant on their funds.

Hear hear to all that

[DMU Blue]

Great that the Kirk’s seems to be getting a handle on the running of the club.

I just can’t work out why they don’t just take control. They effectively are anyway.

[Westbars Spireite]

Not the greatest of back stories but nothing we didn't suspect.

[LondonBlue]

Good to hear we are breaking even this season, although we should be given the attendances.

[Fact Checker]

LondonBlue, on 06 October 2023 - 09:13 PM, said:

Good to hear we are breaking even this season, although we should be given the attendances.

I’ve got to say, I’m very pleasantly surprised that we’re going to be breaking even this year. Only a handful of clubs up and down the country break even annually - incredible that we’re going to finally be one of those, and that’s without the £1m+ additional income that EFL football brings, and without away fans. Well done and a big thanks to Ash & Phil for all they’re doing.
New training ground, fantastic stadium, a new supporters bar incoming, and sustainability on its way - all whilst having the best squad and manager we could have hoped for.

Also a massive well done and thanks to all fans. 7,000 home fans in the NL is insane and we’ve all had a big part to play in allowing us to even get close to breaking even. Let’s keep shouting about CFC from the rooftops and I’m sure we can get sell outs heading our way in years to come.

[Lincs Spireite]

hardgums, on 06 October 2023 - 07:27 PM, said:

Just shows how tight the finances are. Big up to the Kirk Bros and the Trust but boy, we really need to go up this time.

Exactly, I suspect it's this season or never and I think we have the best team to do it.

[Nitrous Oxide]

Doing it for the love of the club and not a vanity project. So many do it to massage their own egos and line their pockets.

[Westbars Spireite]

LondonBlue, on 06 October 2023 - 09:13 PM, said:

Good to hear we are breaking even this season, although we should be given the attendances.

It says close to which could be any number but if it’s the wrong side of the line it’s definitely not breaking even.

[dim view]

Blue5, on 06 October 2023 - 08:27 PM, said:

By contrast to the Chairman's & CEO's statements contained within the last set of accounts, we can't knock this press release.

How many club podcasts have we heard, where those who should know better were boasting about the favourable terms associated with external loans? Despite the favourable terms, there was never a business plan that would have delivered sufficient profits to repay the capital.

We are lucky to have Phil and Ashley Kirk involved because without them things would look a lot different. I hope they are enjoying being involved as much as I am watching games and that we can hold their interest for many years to come. That said, I would prefer to see a club which is sustainable and less reliant on their funds.

Without understanding detail, I read that Sarfend are trying to survive by asking for a grant from Sunak's Levelling Up Fund by waving the 'community Club' flag. What's good for the goose?
Could we replace our Council loans with grant money?

[60s 70s Spireite]

Westbars Spireite, on 07 October 2023 - 07:44 AM, said:

It says close to which could be any number but if it’s the wrong side of the line it’s definitely not breaking even.

Was going to post similar. One thing for sure, the club won’t be turning up its nose at any chance of a FA Cup run.

[LondonBlue]

Westbars Spireite, on 07 October 2023 - 07:44 AM, said:

It says close to which could be any number but if it’s the wrong side of the line it’s definitely not breaking even.

Fair enough. But close to breaking even is better than we have been for years.

[DIFH]

60s 70s Spireite, on 06 October 2023 - 07:30 PM, said:

You have the feeling there’s no where to go if we don’t go up this time.

No we just stay as we are !!!

[60s 70s Spireite]

DIFH, on 07 October 2023 - 08:56 AM, said:

No we just stay as we are !!!

I doubt it. I think we would see a revisiting of our model, and a number of our star players being offloaded to rebalance the books. Plus a change of manager (his choice, not ours).

[Fact Checker]

Guys, come on. Being close to breaking even as a football club is an exceptional achievement, especially when we have next to no away fans and no EFL payments. We’re also doing that whilst paying a squad that could compete in the league above. How is anyone turning their nose up about this?!
Well done one and all.

[Mr Mercury]

60s 70s Spireite, on 07 October 2023 - 09:06 AM, said:

I doubt it. I think we would see a revisiting of our model, and a number of our star players being offloaded to rebalance the books. Plus a change of manager (his choice, not ours).

That’s almost like a preemptive PTs legendary “as good as it gets” post

[Fact Checker]

60s 70s Spireite, on 07 October 2023 - 09:06 AM, said:

I doubt it. I think we would see a revisiting of our model, and a number of our star players being offloaded to rebalance the books. Plus a change of manager (his choice, not ours).

I’m sorry but you’ve lost me here. What on earth, from that statement, has made you jump to this conclusion?
Or have you heard something I haven’t?
The statement confirms we’re ‘almost breaking even’. In football, that’s very very good.
This is good news, my friend, enjoy it.

[Westbars Spireite]

How is losing money something to enjoy? I’m puzzled at that idea.