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Post by yattongas on May 24, 2019 22:03:20 GMT
The end is nigh . Pretty much the same as I’ve heard every season for 40 odd years. Still going though ain’t we ? Utg But that covers a period when we played at Twerton, it's hardly been just plain selling, the issue now is the owners don't seem to have any grasp of debt, they've simply sucked all the equity out of the club we built up when we first got the Mem. It's hard to believe these clowns run an investment bank. Here we go again....
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Post by Topper Gas on May 24, 2019 22:15:45 GMT
But that covers a period when we played at Twerton, it's hardly been just plain selling, the issue now is the owners don't seem to have any grasp of debt, they've simply sucked all the equity out of the club we built up when we first got the Mem. It's hard to believe these clowns run an investment bank. Here we go again.... I guess the truth hurts the blinkered.
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Post by gasandelectricity on May 24, 2019 22:23:31 GMT
What's the commentary? Because that could explain the context behind a 3 million loss.
We've been persuing the UWE deal again, perhaps that could explain some.
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Post by Severncider on May 24, 2019 22:24:25 GMT
Debt to Dwayne Sports up 4.655million to 13.229 million 2 years at this rate and its over 20 million. How much is the Mem worth? That's a 50% increase on the previous 12 months?
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Post by yattongas on May 24, 2019 22:27:06 GMT
I guess the truth hurts the blinkered. The truth is ..... there’s naff all you or I can do about it unless we have spare millions lying about. We’re still going and despite all the usual naysayers we’ll still be here in 5,10,20 yrs time. Want to bet on that Topsy ?
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Post by james246 on May 24, 2019 22:36:45 GMT
Not completely surprised by the figures, a couple pf small points on costs 1) Why do we need both a Chairman and a CEO, surely one of these positions should be redundant 2) Was it really necessary to again resurface the pitch (regarded as the best in the league) I think the spend emphasis should be on quality players I think one member of the club recognizes that he is our manager. Financial cuts should be on all the other stuff
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gas24
Reserve Team
Posts: 294
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Post by gas24 on May 24, 2019 22:57:58 GMT
How much did the 'new training ground' land cost ? Now used by the wildlife
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Post by Topper Gas on May 24, 2019 23:03:43 GMT
I guess the truth hurts the blinkered. The truth is ..... there’s naff all you or I can do about it unless we have spare millions lying about. We’re still going and despite all the usual naysayers we’ll still be here in 5,10,20 yrs time. Want to bet on that Topsy ? If we're still owned by the ALQ's I can't see us surviving for another 5 years as by then debts will be well past £30m. I'm not interested in a £5/£10 or even £100 bet I just want a football club to still support.
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Post by gasforeverman on May 24, 2019 23:10:14 GMT
Shocking! Obviously this is unsustainable. As were 12mths further down the road with attendences falling the debts must now be over 14mill...
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Post by axegas on May 24, 2019 23:23:22 GMT
It’s true we can’t influence what happens behind the scenes but we should all be concerned by it. If the club is to have a bright future, we can’t keep haemorrhaging money to add to our piling debts while our outdated ground continues to cost us more and more to maintain and weeds grow taller in our undeveloped training ground. Don’t get me wrong, I appreciate the improvements made to the mem, they were badly needed but the owners need to fully implement a long term plan to make us sustainable, in the short term that includes cutbacks and over the long term improves the facilities available to the club in order to maximise profits which simply isn’t possible in our antiquated current set up. Sadly I don’t have faith that ALQ’s will do this as they haven't showed us much so far, but we’ll see.
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Deleted
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Post by Deleted on May 24, 2019 23:37:17 GMT
Ah well.. as long as we can all watch the rovers on a Saturday who cares right?
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Post by glengas on May 25, 2019 0:35:19 GMT
2 years at this rate and its over 20 million. How much is the Mem worth? The owners set aside 15million to cover debts, we are getting close to that now, hopefully the recent cut backs and price hikes will have narrowed our losses for 18/19 season. What happens if we go over the 15million who knows. This is surely why a phone in or fans forum is important so we can ask questions like this. They may well have the answers and it might be nothing to worry about, and I don’t have the money to invest, but it would be nice to get some reassurance regarding the mounting debts and the long term future of the club.
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Post by chewbacca on May 25, 2019 2:12:13 GMT
Luckily the Season Ticket video and posters around town will see us post a profit next year.
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Post by Antonio Fargas on May 25, 2019 6:59:37 GMT
2) Was it really necessary to again resurface the pitch (regarded as the best in the league) We didn't. It's just standard maintenance. It just looks like resurfacing coz there's a load of sand on it, atm.
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Post by Hugo the Elder on May 25, 2019 7:03:00 GMT
I guess the truth hurts the blinkered. What truth?? Half of what's said on here is bollocks. There are problems and over spending is an issue. 2 CEOs, London Office, Training Ground land, too many background staff that no one knows what they do. People slating Wael (with personal insults) for the stands, Shop and TV is inaccurate and very unhelpful as it lacks credibility and undermines what it is actually a reasonable point to have made. It's not about being blinkered it's about putting forward a reasonable and inarguable case that can be used to question the owners responsibly.
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Post by Topper Gas on May 25, 2019 7:43:53 GMT
I guess the truth hurts the blinkered. What truth?? Half of what's said on here is bollocks. There are problems and over spending is an issue. 2 CEOs, London Office, Training Ground land, too many background staff that no one knows what they do. People slating Wael (with personal insults) for the stands, Shop and TV is inaccurate and very unhelpful as it lacks credibility and undermines what it is actually a reasonable point to have made. It's not about being blinkered it's about putting forward a reasonable and inarguable case that can be used to question the owners responsibly. The truth was that we're somehow losing £3m+ a year and it can't obviously go on indefinitely or we'll become another Bolton, or more probably Hereford given the state of our ground. If the money is not being wasted on the pitch (do we really need the best in Div 1?) the shop etc were is it being spent as it certainly doesn't look like a good return given we've had our worse league performance for years. Why are running up a massive loss each season but other Div 1/2 club's almost breaking even. Anyway thinking about this overnight and the shop, bar and family stand will be in next year's accounts, this year's just cover the pitch and new south stand work. If DC was right and the wage budget is being cut this summer then at least Wael is taking some action, the next should be to close our London office.
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Post by mjhgas on May 25, 2019 7:51:53 GMT
Refer to the post "death of the 72" for answers.
Top end football squeezing the life out of L1 & 2.
In a few years time, they'll draw a line under the Championship and cast L1 & 2 away.
Still need to get Charlton, Sunderland and Portsmouth in to the Championship!
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Post by Henbury Gas on May 25, 2019 7:57:31 GMT
I guess the truth hurts the blinkered. What truth?? Half of what's said on here is bollocks. There are problems and over spending is an issue. 2 CEOs, London Office, Training Ground land, too many background staff that no one knows what they do. People slating Wael (with personal insults) for the stands, Shop and TV is inaccurate and very unhelpful as it lacks credibility and undermines what it is actually a reasonable point to have made. It's not about being blinkered it's about putting forward a reasonable and inarguable case that can be used to question the owners responsibly. and the training ground was not purchased by Bristol Rovers Football Club so will not be in the accounts
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Post by Jomo on May 25, 2019 8:06:22 GMT
Concerning yes but shocking? Not at all.
Almost all clubs are losing millions, particularly if you look at Championship clubs trying to compete. It's the sad fact of being a professional football league club who is trying to compete. Why are so many people shocked by this?
Those saying the AQs need to be reigned in, I hope you don't also think they should show more ambition? If we truly want to be a profitable business then we should simply consign ourselves to the Conference, pay peanuts to a bunch of triers, get 5-6k through the turnstiles each week and be done with it.
The EFL is not made for sustainability, that's just the way it's been for years. Mike Ashley at Newcastle gets slammed for not having ambition, yet he simply isn't spending shedloads of dosh to get them into further and further debt. Same as Arsenal and Spurs if they genuinely want to try and win the title they'll need to break all the shackles of financial management like Man City have done and gamble on it. Is it sustainable? No. Is it sensible? No. Do their supporters want them to do it anyway? Probably most of them yes.
We can't win, either we cull all the parts of the club that were introduced to try to make us more professional, more 21st century, more sustainable, and then strip the playing side down to the bare bones and inevitably get relegated and slammed for lack of ambition. Or we carry on and hope the AQs deliver a stadium that can at least give us a sliver of hope that we can one day show that our debt is manageable.
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Post by Officer Barbrady on May 25, 2019 8:09:44 GMT
2 years at this rate and its over 20 million. How much is the Mem worth? That's a 50% increase on the previous 12 months? No it's not. 3.3 million annual loss. 13 million currently. So two years puts us at 20 or there abouts
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