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Post by gasify on Mar 1, 2024 6:20:15 GMT
Thanks for the updates, a lot of it sounds positive. I'm not sure we will be able to get a category 1 academy,I don't think many clubs have them and we wanted a category 2 academy years ago, but we haven't achieved it. How can we say we need to cut costs, but we are going to spend millions?? I know if we get it right, it could potentially make a lot of money, but it's a big risk. You are comparing apples to oranges. Operational costs vs investment costs. It makes business sense to cut operational costs and increase investment costs as this should allow us to have greater future cash inflows as long as we don't get relegated... There was definately a sense that investment hasn't happened for a while. |
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Post by gasify on Mar 1, 2024 6:22:17 GMT
Thinking about tonight’s claim that we’ll be spending 30-35m on the quarters creating 13 pitches and an indoor dome to make cat 1 academy and the stadium rebuild. Surely just the first part is going to cost £15 million (at least ) ? 500k a pitch at a guess plus the dome which must be at least a few million? Just the south stand was 3.1 M . Not sure the numbers stack up . 13 pitches? I thought what was said was we currently use 5 of the 30 acres at present but expect to increase to 13? Acres, not pitches? That’s my notes, I may have misunderstood? No he did say 13 pitches and then a joke was made about 13 being an unlucky number. |
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Post by pucklegas on Mar 1, 2024 6:26:44 GMT
Thanks for all the updates, sounds promising, wonder how the playing budget is looking like for next season.
Season tickets are sold before we see what we ll be watching in front of us, I am loyal, but want to see that in recessionary times, the shelling out of £500 was a wise decision, and that I'm not going to witness a Ben Garner type outfit.
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Post by gasandelectricity on Mar 1, 2024 7:51:19 GMT
All sounds good to me 👍
A new CEO would not be a bad thing in my eyes.
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Post by gasify on Mar 1, 2024 8:01:51 GMT
Not sure it's been mentioned before.
There was a question about the OAP season ticket price increase was around 24% for the East Stand and a question was asked why it was so much bigger than the West stand.
A couple of things that I didn't realise:
There are only 1000 seats in the East and West stand combined.
The East Stand tickets this season were cheaper than the West stand.
Owners see the East Stand as the best seats in the house and couldn't understand why the were less than West stand.
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Post by daniel300380 on Mar 1, 2024 8:03:25 GMT
Thanks for the updates, a lot of it sounds positive. I'm not sure we will be able to get a category 1 academy,I don't think many clubs have them and we wanted a category 2 academy years ago, but we haven't achieved it. How can we say we need to cut costs, but we are going to spend millions?? I know if we get it right, it could potentially make a lot of money, but it's a big risk. You are comparing apples to oranges. Operational costs vs investment costs. It makes business sense to cut operational costs and increase investment costs as this should allow us to have greater future cash inflows as long as we don't get relegated... There was definately a sense that investment hasn't happened for a while. It will increase operational costs as well though. Someone said it costs £3 million a year to run a category 1 academy. You need to employee a lot more coaches and other staff. Not to mention the ongoing costs of the facilities etc. It will definitely increase operational costs as well as investment costs. |
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Post by percy on Mar 1, 2024 8:09:26 GMT
You are comparing apples to oranges. Operational costs vs investment costs. It makes business sense to cut operational costs and increase investment costs as this should allow us to have greater future cash inflows as long as we don't get relegated... There was definately a sense that investment hasn't happened for a while. It will increase operational costs as well though. Someone said it costs £3 million a year to run a category 1 academy. You need to employee a lot more coaches and other staff. Not to mention the ongoing costs of the facilities etc. It will definitely increase operational costs as well as investment costs. Yes of course in the longer time There is a focus (it appears) on cutting operational costs in the short term. Happens all the time in normal businesses, whether they call it "right sizing". cutting waste or whatever, but the new owners obviously see a lot of the current op spend as out of control and not well managed. Cutting right back and then approving new costs themselves gives them control. Makes for difficult times for employees, but I am sure everyone of us on here have been there more than once in their working lifetimes. Hope they get it right. |
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Post by gasheadontour on Mar 1, 2024 8:17:38 GMT
Yep £3m per year running costs for cat 1 academy but about £1m of that would be covered via funding grants. Typically each season you'd look to produce 2 players to first-team standard. That's why some clubs find it better value to sign players already good enough for the first-team.
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Post by daniel300380 on Mar 1, 2024 8:33:35 GMT
Yep £3m per year running costs for cat 1 academy but about £1m of that would be covered via funding grants. Typically each season you'd look to produce 2 players to first-team standard. That's why some clubs find it better value to sign players already good enough for the first-team. Any idea how much the initial spend would be, to get it up to a category 1 academy?? Then you have to think we wouldn't produce any players for years, as the older academy players would be everywhere already. Probably looking at 10s millions before producing the first player. Hopefully we can get it right, if we do, do it. But like many stadiums, I think it could be a dream. A lot of money with a lot of risk behind it. If we do, do it, then it shows that the owners do have serious money behind them. If they are planning to do this, would they not spend a few million on promising youngsters in the meantime?? |
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Post by gashead1981 on Mar 1, 2024 8:35:00 GMT
I was there last night. It was a good meeting in all. Abdullatif was happy to chuck TG under the bus for his previous operational mistakes and it appears hes become a bit of a PA rather than a CEO.
It was me who questioned him on the finance side of his model for the club. My questions were how were the stands going to be funded at the ground, the training ground built/remodelled to Cat 1 status?
His reply was a mixture of selling some land at The Quarters, investments from established partners and the owners own pockets. He said that his family have very good relationships with banks through their previous projects for low rates of interest on any monies borrowed.
He stated the The Quarters is around 30 acres in size of which only 5 is currently in use. The plan is to sell around 5 acres for housing to fund the Cat 1 academy. I asked how much he expected to raise (3 times!) from that to go towards the project? He said it would be around £8m.
I also asked him if the money spent was going to go on the clubs balance sheet as debt or is it gifted by the owners with the debt capitalised and he dodged that question. He was insistant that infrastructure was the key to building us as a ready made PL club which is sustainable in the championship. My impression is that The stadium is what is important to the 3 year model, EG, start building next year with the hope to be there by the time the stand is completed with the TG a much longer and larger project.
I also detected that if they go get to the championship with the infrastucture built it is where these owners will exit and get their money back. Just my opinion, but thats my impression.
He explained the pricing structure well, but it still isnt satisfactory in some area, especially with the kids pricing. Abdullatif blamed the lack of seating and facility but that still doesnt equate for the pricing model for getting kids into the ground especially with the SW now complete. It urgently needs to be looked at IMO.
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Post by phillistine on Mar 1, 2024 8:39:35 GMT
All sounds good to me 👍 A new CEO would not be a bad thing in my eyes. i think that everyone is being harsh on Tom. Basically we have an owner who knows how to make people like him and has the authority to come in and promise things in a public meeting that will make him popular as it is his money he is spending . A CEO is an employee doing his best to run a business of defined guidelines provided by the strategic direction that the Board has taken - someone who is not there to make emotional feel good decisions and who is safeguarding other people's money. I suspect that things were said yesterday that left Tom biting his tongue and it was telling that when he talked about the progamme notes, no-one in authority stood up and explained why that was taken away from him. Tom did not blame any of the infrastructure problems until the owner mentioned them and that then meant that he could open up and admit things that previously may have remained unsaid. Dont get me wrong i am not complaining about what was a positive meeting simply because this does happen in open meetings like the one last night but it would be naieve to think that Tom Gorringe could be as open and forthcoming in a meeting like that as one of the owners. |
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Post by stuart1974 on Mar 1, 2024 8:49:26 GMT
I was there last night. It was a good meeting in all. Abdullatif was happy to chuck TG under the bus for his previous operational mistakes and it appears hes become a bit of a PA rather than a CEO. It was me who questioned him on the finance side of his model for the club. My questions were how were the stands going to be funded at the ground, the training ground built/remodelled to Cat 1 status? His reply was a mixture of selling some land at The Quarters, investments from established partners and the owners own pockets. He said that his family have very good relationships with banks through their previous projects for low rates of interest on any monies borrowed. He stated the The Quarters is around 30 acres in size of which only 5 is currently in use. The plan is to sell around 5 acres for housing to fund the Cat 1 academy. I asked how much he expected to raise (3 times!) from that to go towards the project? He said it would be around £8m. I also asked him if the money spent was going to go on the clubs balance sheet as debt or is it gifted by the owners with the debt capitalised and he dodged that question. He was insistant that infrastructure was the key to building us as a ready made PL club which is sustainable in the championship. My impression is that The stadium is what is important to the 3 year model, EG, start building next year with the hope to be there by the time the stand is completed with the TG a much longer and larger project. I also detected that if they go get to the championship with the infrastucture built it is where these owners will exit and get their money back. Just my opinion, but thats my impression. He explained the pricing structure well, but it still isnt satisfactory in some area, especially with the kids pricing. Abdullatif blamed the lack of seating and facility but that still doesnt equate for the pricing model for getting kids into the ground especially with the SW now complete. It urgently needs to be looked at IMO. Sounds fairly positive from what you and others have written. "if they go get to the championship with the infrastucture built it is where these owners will exit and get their money back" - this bit is also my gut feel. Fingers crossed it comes good. 🫰 |
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Post by singupgas on Mar 1, 2024 8:51:26 GMT
I was there last night. It was a good meeting in all. Abdullatif was happy to chuck TG under the bus for his previous operational mistakes and it appears hes become a bit of a PA rather than a CEO. It was me who questioned him on the finance side of his model for the club. My questions were how were the stands going to be funded at the ground, the training ground built/remodelled to Cat 1 status? His reply was a mixture of selling some land at The Quarters, investments from established partners and the owners own pockets. He said that his family have very good relationships with banks through their previous projects for low rates of interest on any monies borrowed. He stated the The Quarters is around 30 acres in size of which only 5 is currently in use. The plan is to sell around 5 acres for housing to fund the Cat 1 academy. I asked how much he expected to raise (3 times!) from that to go towards the project? He said it would be around £8m. I also asked him if the money spent was going to go on the clubs balance sheet as debt or is it gifted by the owners with the debt capitalised and he dodged that question. He was insistant that infrastructure was the key to building us as a ready made PL club which is sustainable in the championship. My impression is that The stadium is what is important to the 3 year model, EG, start building next year with the hope to be there by the time the stand is completed with the TG a much longer and larger project. I also detected that if they go get to the championship with the infrastucture built it is where these owners will exit and get their money back. Just my opinion, but thats my impression. He explained the pricing structure well, but it still isnt satisfactory in some area, especially with the kids pricing. Abdullatif blamed the lack of seating and facility but that still doesnt equate for the pricing model for getting kids into the ground especially with the SW now complete. It urgently needs to be looked at IMO. Sounds fairly positive from what you and others have written. "if they go get to the championship with the infrastucture built it is where these owners will exit and get their money back" - this bit is also my gut feel. Fingers crossed it comes good. 🫰 So we are now expecting that the club will be sold again? |
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Post by mftc on Mar 1, 2024 8:52:14 GMT
Did anyone ask why do we bring everyone back for corners?
Doesn't seem to be any comments on any questions direct to MT?
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Post by discodave on Mar 1, 2024 8:52:55 GMT
Didn't someone on here say that the Quarters was going to be sold for housing some time ago? IIRC the poster got shot to bits but it appears they were partially correct.. There was something that Abdullatif said about the quarters that I picked up on. Could be something, could be nothing. He said that they were thinking of building a stand there so that people could watch the under 21's. Now, someone jump in with the wording of that covenant. Is it fans cannot watch a sporting event or we cannot charge for fans to watch a sporting event? Also said the Gas Girls will be playing there |
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Post by phillistine on Mar 1, 2024 8:55:22 GMT
I was there last night. It was a good meeting in all. Abdullatif was happy to chuck TG under the bus for his previous operational mistakes and it appears hes become a bit of a PA rather than a CEO. It was me who questioned him on the finance side of his model for the club. My questions were how were the stands going to be funded at the ground, the training ground built/remodelled to Cat 1 status? His reply was a mixture of selling some land at The Quarters, investments from established partners and the owners own pockets. He said that his family have very good relationships with banks through their previous projects for low rates of interest on any monies borrowed. He stated the The Quarters is around 30 acres in size of which only 5 is currently in use. The plan is to sell around 5 acres for housing to fund the Cat 1 academy. I asked how much he expected to raise (3 times!) from that to go towards the project? He said it would be around £8m. I also asked him if the money spent was going to go on the clubs balance sheet as debt or is it gifted by the owners with the debt capitalised and he dodged that question. He was insistant that infrastructure was the key to building us as a ready made PL club which is sustainable in the championship. My impression is that The stadium is what is important to the 3 year model, EG, start building next year with the hope to be there by the time the stand is completed with the TG a much longer and larger project. I also detected that if they go get to the championship with the infrastucture built it is where these owners will exit and get their money back. Just my opinion, but thats my impression. He explained the pricing structure well, but it still isnt satisfactory in some area, especially with the kids pricing. Abdullatif blamed the lack of seating and facility but that still doesnt equate for the pricing model for getting kids into the ground especially with the SW now complete. It urgently needs to be looked at IMO. I got stuck in traffic and arrived too late to post a question but i was glad that you asked about the finances. i wanted to unerstand the relationship between the executive vice president and the ceo and am not sure that i understand it any better to be honest . The difficulty during a meeting like that is the e.v.p came across as the guy you speak to who gets things done but that also means that he becomes the single point of potential failure because it channels everything through him and undermines Tom. We witnessed that when people were talking about bills not being paid a few weeks ago as they all needed to be ok'd by Abdullatif. its a difficult balancing act that is determined by the owners backing their ceo and not being seen to undermine him. i am not sure that Abdullatif will get that right Things will sorth themselves out in time but all in all i thought that it was a positive meeting |
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Post by discodave on Mar 1, 2024 8:55:46 GMT
Did anyone ask why do we bring everyone back for corners? Doesn't seem to be any comments on any questions direct to MT? Yes some one did and MT's response was we think its best to get everyone behind the ball for now until we strengthen . Whether that means we have no pace up front to take the ball away and hold up ie Collins I'm not sure. |
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Post by bristolbluegas on Mar 1, 2024 8:56:03 GMT
Thinking about tonight’s claim that we’ll be spending 30-35m on the quarters creating 13 pitches and an indoor dome to make cat 1 academy and the stadium rebuild. Surely just the first part is going to cost £15 million (at least ) ? 500k a pitch at a guess plus the dome which must be at least a few million? Just the south stand was 3.1 M . Not sure the numbers stack up . 13 pitches? I thought what was said was we currently use 5 of the 30 acres at present but expect to increase to 13? Acres, not pitches? That’s my notes, I may have misunderstood? Yes, 13 pitches is what was mentioned. I think £500k per pitch is stretching it somewhat, although I'm no expert. |
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Post by phillistine on Mar 1, 2024 9:00:55 GMT
Did anyone ask why do we bring everyone back for corners? Doesn't seem to be any comments on any questions direct to MT? yes. Basically he said that he didnt want to change a system that seemed to work defensively . the time yto change things like that is in the close season with a new set of players. We have to accept that a manager is never going to sit in a meeting like that and suddenly say- " oh you are right - i will change tactics " or admit to a fall out with say Scott Sinclair. He did say that Scott made it clear that he did not like being left out of the squad and congratulated him on the way that he conducted himself. |
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Post by outsidehitter30 on Mar 1, 2024 9:07:00 GMT
I was there last night. It was a good meeting in all. Abdullatif was happy to chuck TG under the bus for his previous operational mistakes and it appears hes become a bit of a PA rather than a CEO. It was me who questioned him on the finance side of his model for the club. My questions were how were the stands going to be funded at the ground, the training ground built/remodelled to Cat 1 status? His reply was a mixture of selling some land at The Quarters, investments from established partners and the owners own pockets. He said that his family have very good relationships with banks through their previous projects for low rates of interest on any monies borrowed. He stated the The Quarters is around 30 acres in size of which only 5 is currently in use. The plan is to sell around 5 acres for housing to fund the Cat 1 academy. I asked how much he expected to raise (3 times!) from that to go towards the project? He said it would be around £8m.
I also asked him if the money spent was going to go on the clubs balance sheet as debt or is it gifted by the owners with the debt capitalised and he dodged that question. He was insistant that infrastructure was the key to building us as a ready made PL club which is sustainable in the championship. My impression is that The stadium is what is important to the 3 year model, EG, start building next year with the hope to be there by the time the stand is completed with the TG a much longer and larger project. I also detected that if they go get to the championship with the infrastucture built it is where these owners will exit and get their money back. Just my opinion, but thats my impression. He explained the pricing structure well, but it still isnt satisfactory in some area, especially with the kids pricing. Abdullatif blamed the lack of seating and facility but that still doesnt equate for the pricing model for getting kids into the ground especially with the SW now complete. It urgently needs to be looked at IMO. I was also there las night! It was a really good meeting. I both agree & disagree with some of your interpretation of what was said:"Abdullatif was happy to chuck TG under the bus for his previous operational mistakes and it appears hes become a bit of a PA rather than a CEO."I Don't agree with this at all - HE wasn't throwing TG under the bus. If he did'nt know the history or the background he got TG to Answer. "He stated the The Quarters is around 30 acres in size of which only 5 is currently in use. The plan is to sell around 5 acres for housing to fund the Cat 1 academy. I asked how much he expected to raise (3 times!) from that to go towards the project? He said it would be around £8m."I broadly agree with your interpretation. My thoughts are that he did'nt answer the funding question because it was above his paygrade / did'nt actually know. Right at the start of the meeting he said he was'nt the money man. He made it clear (for me) that he knew his place in the family tree! "I also detected that if they go get to the championship with the infrastucture built it is where these owners will exit and get their money back. Just my opinion, but thats my impression.I agree with this completely! They will be gone within 3 to 5 Years! Add value then leave. BTW Gashead81 Abdulatif said it was the best question of the night. I agree completely. Well asked, & pushed about the financing.  |
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