Financial Fair Play

[The Walrus]

So what was the outcome of the moan in. Was anyone enlightened as to how our debt will be managed?

 

[Macky]

So what was the outcome of the moan in. Was anyone enlightened as to how our debt will be managed?

No, but there will be a bucket collection at the next home game to try and raise 15p so the Sandwichboi can be reimbursed

 

[The Walrus]

No, but there will be a bucket collection at the next home game to try and raise 15p so the Sandwichboi can be reimbursed

:icon_lol:

 

[Blue Maniac]

The decision has been taken to retain the funds in case of a future financial crisis at the club, however when the Trust discussed with its members at an AGM other alternative uses for the funds, the most popular backing was for heritage based projects, like a physical museum (which the current owners talked of making a reality soon after arriving) or something specifically related to LCFC fans, like the memorial garden (where there had been talk of expansion, but again has failed to materialise). A statue is certainly heritage based, but we have always felt a physical museum which all fans can access was the top priority.

May I ask how long ago this discussion took place? What are the chances of this actually happening?

 

[The Walrus]

Seems to me that that there is a lot of talk about holding on to money in case of a financial crisis but no real clarification on what is being done to avert a crisis.

We are tens of millions of pounds in debt. A contingency fund of a couple of hundred grand is a tiny bit like pissing into a force 10 gale.

 

[The Walrus]

 

[Blue Maniac]

Seems to me that that there is a lot of talk about holding on to money in case of a financial crisis but no real clarification on what is being done to avert a crisis.

We are tens of millions of pounds in debt. A contingency fund of a couple of hundred grand is a tiny bit like pissing into a force 10 gale.

I make it £15,100.

 

[Macky]

I make it £15,100.

Not even enough for a bribe to avert a crisis.

Would go a good way towards a Keith Weller statue though

 

[The Walrus]

Without wishing to appear too melodramatic, if we do not address the debt, a museum might be the best we can hope for. There damn sure won't be a football club.

 

[The Walrus]

Yikes.

 

[Lako42]

So did anyone listen to this? Judging by the shower of mongs on Facebook the club is about to implode.

 

[Foxes_Trust]

May I ask how long ago this discussion took place? What are the chances of this actually happening?

The discussion on alternative uses was a couple of years ago at the AGM, this year we just re-affirmed the decision to retain the funds with members mindful of the events at Pompey

 

[Foxes_Trust]

So did anyone listen to this? Judging by the shower of mongs on Facebook the club is about to implode.

It's available on BBC I player for around a week, we have put a link on our website
http://foxestrust.co.uk/2441/financial-fair-play-ffp-2#more-2441

 

[Durham Fox]

The discussion on alternative uses was a couple of years ago at the AGM, this year we just re-affirmed the decision to retain the funds with members mindful of the events at Pompey

With all due respect, what possible use is £15,000 going to be to revive any business let alone a football club with £M's of debt?

 

[Matt_B]

With all due respect, what possible use is £15,000 going to be to revive any business let alone a football club with £M's of debt?

Enough to buy their way on to the board after admin and be billy big bollocks again?

 

[Jeff]

Enough to buy their way on to the board after admin and be billy big bollocks again?

£151,000 wasn't enough to get a place on the board.

 

[pork pie fox]

Seems to me that that there is a lot of talk about holding on to money in case of a financial crisis but no real clarification on what is being done to avert a crisis.

We are tens of millions of pounds in debt. A contingency fund of a couple of hundred grand is a tiny bit like pissing into a force 10 gale.

With all due respect, what possible use is £15,000 going to be to revive any business let alone a football club with £M's of debt?

This is exactly what I was going to post. In normal life, £15k is a decent amount of money. With all due respect to the intentions of the trust, it is a drop in the ocean compared to the debts of the club and I can't see it being much use if the worst happens. Or maybe I'm being naive and somebody can point out to me where I'm going wrong.

 

[Han]

It could be used to cover the costs of a cracking fundraising campaign. Not sure they'd be able to make a slight bit of difference though.

 

[fitz]

The discussion on alternative uses was a couple of years ago at the AGM, this year we just re-affirmed the decision to retain the funds with members mindful of the events at Pompey

 

[fitz]

I would like to ask the trust if they would consider donating the amount they have retained to start off a fund for a Keith Weller statue at the ground.

Cracking idea.