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Post by dinsdale on Mar 12, 2016 22:51:44 GMT
Ps
Fab news all the same
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Post by gasincider on Mar 12, 2016 22:55:17 GMT
As I understand it Twatola said we needed 9500 last time we were in league 2. In the conference and now it was 6500. This was confirmed when NH said at a previous meeting that if it wasn't for the MSP Loan, we would be making a profit. Remember, our current playing staff costs are much lower than those of the league 2 squad of two years ago.
With regard to the new people that have been brought in, my guess is that they will not be on our payroll, hence the Jersey Co and the debt repayments.
By the way, I believe the new scoreboard cost in the order of £15k. It's all to do with the pretty pictures that get displayed when MT scores. There is a new one just been fed into it, which shows TBone being kicked to d**th by MT when he scores.
I did suggest a better one would be Pantsdown getting arrested for tax evasion.
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Post by gasincider on Mar 12, 2016 22:56:47 GMT
So apart from the o/s Sainsbury's charge are we now effectively debt free? Have we paid all the directors loans off ? The msp loan was under half the total debt Have been told that, but can't obviously prove it. A good question to get clarification on at the AGM.
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Post by Topper Gas on Mar 12, 2016 23:06:04 GMT
As I understand it Twatola said we needed 9500 last time we were in league 2. In the conference and now it was 6500. This was confirmed when NH said at a previous meeting that if it wasn't for the MSP Loan, we would be making a profit. Remember, our current playing staff costs are much lower than those of the league 2 squad of two years ago.
With regard to the new people that have been brought in, my guess is that they will not be on our payroll, hence the Jersey Co and the debt repayments. By the way, I believe the new scoreboard cost in the order of £15k. It's all to do with the pretty pictures that get displayed when MT scores. There is a new one just been fed into it, which shows TBone being kicked to d**th by MT when he scores. I did suggest a better one would be Pantsdown getting arrested for tax evasion. Surely FFP rules wouldn't allow that as we could simply have all the none playing staff employed by Dwane Sports leaving BRFC just to employ the players, I can't see anybody who works for the club not being employed by them.
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Post by Okebournegas on Mar 12, 2016 23:07:05 GMT
Have we paid all the directors loans off ? The msp loan was under half the total debt Have been told that, but can't obviously prove it. A good question to get clarification on at the AGM. Gasincider , as I have only been posting on here a short while I haven't yet been able to meet your aquaintance. Can I just say that I enjoy reading what you have to say and that you seem to be a reliable source in regards to certain things at the club. I would just like to say thank you for passing on the info you receive .
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Post by womble on Mar 12, 2016 23:51:46 GMT
Would be nice if we were, but we have acquired some new people (e.g. the performance analyst person), who presumably are being paid. Whereas new playing staff are not paid, I don't understand your point? That outgoings have increased (MSP loan aside), but until the accounts are due there is no way of telling if we are making an operating profit or not.
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Post by gasincider on Mar 13, 2016 0:56:33 GMT
As I understand it Twatola said we needed 9500 last time we were in league 2. In the conference and now it was 6500. This was confirmed when NH said at a previous meeting that if it wasn't for the MSP Loan, we would be making a profit. Remember, our current playing staff costs are much lower than those of the league 2 squad of two years ago.
With regard to the new people that have been brought in, my guess is that they will not be on our payroll, hence the Jersey Co and the debt repayments. By the way, I believe the new scoreboard cost in the order of £15k. It's all to do with the pretty pictures that get displayed when MT scores. There is a new one just been fed into it, which shows TBone being kicked to d**th by MT when he scores. I did suggest a better one would be Pantsdown getting arrested for tax evasion. Surely FFP rules wouldn't allow that as we could simply have all the none playing staff employed by Dwane Sports leaving BRFC just to employ the players, I can't see anybody who works for the club not being employed by them. I think that you will find that some if not all are already employed on behalf of the Al Qadi family. Hence they are not our full time employees. The word consultant comes to mind. This was something mentioned in a conversation, and I just accepted it. With regard to FFP, not sure who comes under that umbrella, but I'd bet there is someone on here who can give us the lowdown.
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Post by gasincider on Mar 13, 2016 1:00:04 GMT
Have been told that, but can't obviously prove it. A good question to get clarification on at the AGM. Gasincider , as I have only been posting on here a short while I haven't yet been able to meet your aquaintance. Can I just say that I enjoy reading what you have to say and that you seem to be a reliable source in regards to certain things at the club. I would just like to say thank you for passing on the info you receive . Thank you Oakbournegas. I genuinely only pass on what I believe to be legit.(and if it's safe to do so). If I'm not sure I say so. But I see no point in gasheads bullsh*tting one another. After all, we all support the same team. By the way, in case I didn't say so at the time, welcome aboard.
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Post by peterhooper57 on Mar 13, 2016 4:56:19 GMT
No more over analysis by dialysis "please", Wael has bought the club and paid off the debt; upwards and on-wards, division 1 here we come. UTG
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Post by Deleted on Mar 13, 2016 7:07:18 GMT
Have been told that, but can't obviously prove it. A good question to get clarification on at the AGM. Gasincider , as I have only been posting on here a short while I haven't yet been able to meet your aquaintance. Can I just say that I enjoy reading what you have to say and that you seem to be a reliable source in regards to certain things at the club. I would just like to say thank you for passing on the info you receive . There's one that could have been a PM....
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Post by Hugo the Elder on Mar 13, 2016 7:09:45 GMT
Gasincider , as I have only been posting on here a short while I haven't yet been able to meet your aquaintance. Can I just say that I enjoy reading what you have to say and that you seem to be a reliable source in regards to certain things at the club. I would just like to say thank you for passing on the info you receive . There's one that could have been a PM.... You've got no love in your heart. You are very handsome though. Xxx
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Post by Captain Jayho on Mar 13, 2016 7:12:17 GMT
That really is tremendous news. If we truly are close to debt free and now breaking even (or even making a small profit) on an ongoing basis then it's really something special. Given Wael's proposed strategy for the club you'd really expect that this is a path he'd want to continue down in terms of making the club self-funding and sustainable in the long run. A huge amount of credit must go to DC as well for putting together a squad that has been promoted last season and is challenging for promotion this season - and on a fraction of the budget of previous years if the 9500/6500 number is to be believed. What a team the club appears to be putting in place. Officially getting excited about this now.
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Post by knowall on Mar 13, 2016 10:41:20 GMT
Have we paid all the directors loans off ? The msp loan was under half the total debt Have been told that, but can't obviously prove it. A good question to get clarification on at the AGM. Directors loans have been cleared - but there are other debts which have not been cleared - for instance - some preference shares and interest payments thereon in the Mem which should have been repaid ten years ago.
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Post by countygroundhotel on Mar 13, 2016 11:27:35 GMT
I'm guessing here, but I imagine Dwane sports now are a company with trading debts of about £3m for the MSP loan, £8m to ex-directors, £2,000 for a new scoreboard and £115.67 for a lick of paint to the bar? Ha, ha the scoreboard cost a bit more than that.
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Post by countygroundhotel on Mar 13, 2016 11:32:29 GMT
Surely FFP rules wouldn't allow that as we could simply have all the none playing staff employed by Dwane Sports leaving BRFC just to employ the players, I can't see anybody who works for the club not being employed by them. I think that you will find that some if not all are already employed on behalf of the Al Qadi family. Hence they are not our full time employees. The word consultant comes to mind. This was something mentioned in a conversation, and I just accepted it. With regard to FFP, not sure who comes under that umbrella, but I'd bet there is someone on here who can give us the lowdown. Even if that was true (I don't know either way) then if we ever got investigated under FFP it would make no difference as you will be judged to have understated your costs by employing people through a different company. Much as advertising deals are judged at market rates not the notional value that the owners pay to their clubs.
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Post by Topper Gas on Mar 13, 2016 11:32:48 GMT
That really is tremendous news. If we truly are close to debt free and now breaking even (or even making a small profit) on an ongoing basis then it's really something special. Given Wael's proposed strategy for the club you'd really expect that this is a path he'd want to continue down in terms of making the club self-funding and sustainable in the long run. A huge amount of credit must go to DC as well for putting together a squad that has been promoted last season and is challenging for promotion this season - and on a fraction of the budget of previous years if the 9500/6500 number is to be believed. What a team the club appears to be putting in place. Officially getting excited about this now. I doubt we're actually debt free just the debts are no longer external debts to loan co's like MSP, it wouldn't make business sense to just write off £10m of debts in one go unless the Al-Qadi's are so weallthy they don't to have worry but such things, which seems unlikely if they've join to the trouble of setting up Dwane Sports in Jersey. It's still great news regardless.
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Post by gasincider on Mar 13, 2016 11:41:05 GMT
Have been told that, but can't obviously prove it. A good question to get clarification on at the AGM. Directors loans have been cleared - but there are other debts which have not been cleared - for instance - some preference shares and interest payments thereon in the Mem which should have been repaid ten years ago. You are of course correct. The Presidents Club who hold about £40k worth constantly wrote to NH requesting the interest payments etc. Dont think they are worried now. I believe, but can't be bothered to dig out the file, that there is about £350k in pref shares. With all respect to those that hold them, it's not even a drop in the ocean compared to our previous indebtedness. The supporters club for instance hold over£100k in their bank account as a result of selling the shop in Kingswood. NH and TW constantly tried to get the money off them, but they correctly refused to give it up. I'd bet they won't mind releasing it to the club now for something sensible I.e. developing the academy/ Providing kit for Paul Moleworths set up in the Midlands etc. Its a a whole new ball game now.
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Post by brfclee on Mar 13, 2016 11:41:18 GMT
Surely FFP rules wouldn't allow that as we could simply have all the none playing staff employed by Dwane Sports leaving BRFC just to employ the players, I can't see anybody who works for the club not being employed by them. I think that you will find that some if not all are already employed on behalf of the Al Qadi family. Hence they are not our full time employees. The word consultant comes to mind. This was something mentioned in a conversation, and I just accepted it. With regard to FFP, not sure who comes under that umbrella, but I'd bet there is someone on here who can give us the lowdown. I always thought that FFP only covered players wages but wasn't sure so looked it up. According to this website www.financialfairplay.co.uk/scmp.phpUnder SCMP, 'Wages' relates to player wages only (director remuneration and general club staff wages are not included in the SCMP calculation). and also Wage costs for Youth players on a professional contract are also excluded (i.e. players that have been in the club’s Youth Development scheme and have been given a pro contract); they must be 20 years of age or under at the start of the season
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Post by gasincider on Mar 13, 2016 11:48:20 GMT
I thought the manager and his coaches came into it as well. So it just gets better and better. So the guy who told me was right. The new folks can be paid in any way the Al Qadis wish as long as it complies with our tax laws.
If our new owners have any doubts, just seek advice. There is a huge financial services business in Anchor Road which will give such advice. I think they are called Hargreaves L............ Sorry I just can't get myself to say it.
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Post by lpgas on Mar 13, 2016 11:54:40 GMT
I think our playing budget has gone up since Christmas!
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