webmaster said:
lazzer said:
damn technology
what i meant to ask was how is it invested were does the money go? what happens on any returns on this investment?
do recieve expenses for doing this work ?
The money is invested in shares in Leicester City. The club will then spend the money on whatever they decide to spend it on.
The only chance of getting any return on the investment would be if the club made a profit, and paid a dividend. That's not going to happen.
The Foxes Trust board are all volunteers working in their own time.
To confirm Webbo's comments.
The Trust's policy is that any money put into the club will only be done in return for shares. The investment of £20k will move us up to be the 13th largest shareholder in the club & we want to keep moving up that list. (The only exception to this is the Stearman syndicate, but that is 30+ individuals putting in equal amounts, so the Trust itself doesn't fund it).
We encourage the club to utilise the money on the academy, however in reality if goes into the pot of money available to the club. The good thing now is that Craig L is following a long term strategy so we would be equally happy for it to be used on a salary of an 18yo who has been rejected from a larger club & may have a rosy future being developed with us.
One day the club does hope to be able to offer dividends to its shareholders, however these dividends can be used to obtain further shares in the club (so re-invested) and that is what the vast majority of the current shareholders would do, including ourselves. We can't see this being in the next few years though.
If we have to buy something, most obvious example being stamps then those costs are refunded to the person who bought them. Other than that I can only think of travel costs for attending the annual Supporters Direct conference (where we share knowledge on the most successful way to run Trusts) where expenses are claimed.
FT board members often speak to one another about FT stuff on mobiles & use of our own print cartridges at home - but none of us have ever claimed for these - in reality all board members have actually incurred some costs & not claimed them back & we all still pay our membership fees like every other member.
Its our partners who question all this work for no financial gain!
