CLUB STATEMENT + NEW JustGiving Donation Page

[Brad94]

The football club would like to respond to story's circulating on social media outlets in regards to the club approaching the Blue & Gold supporters club, asking for a donation to assist the club , following the suspension of all football due to the coronavirus pandemic currently affecting all of the country.

After reading reports that the Leyton Orient supporters club ( LOSC ) had given a donation of £20,000 ( having already donated £31,000 over the last few months) to help ease some of the cash shortfall created by Leyton Orient's own shutdown, the club approached the Blue & Gold Trust over the weekend asking for a  donation to be made to the club to help out in the same way as the donations being made by individual supporters have been.

After consulting with their board members the Trust informed the football club that there was no 'consensus' to lend any money to the football club. Their suggestion was that there was a possibility that a loan could be made but it would be subject to adequate security.  They would accept security of a charge on the lease of the stadium which would need to be approved by the Council. This would require Council approval and would not be a short term solution.

The trust further pointed out to the club that if the club defaulted on the loan then whilst Stephen Cleeve would own the football club they would own the lease on the Stadium and we would need to negotiate with them a deal to move forward.  We were also told that the trust would add their legal fees to the loan amount'.

The football club has declined the trust's offer of assistance but thank them for speaking to their board of directors and making an offer to the club.

Speaking to the club's official website Chairman Stephen Cleeve added ' We are setting up a Just Giving Page which will have a totaliser so fans can see what is being given and this can be found here https://www.justgiving.com/crowdfunding/kltfc.

We have no idea at this stage what is going on and have been given no direction and so are in a very uncomfortable limbo land - however I have been working 15 hours a day to find solutions and I will continue to do the same until we come out the other side.  Keep the faith, keep well and look after each other and thanks to every fan home and abroad who have helped and continue to help the club.

https://www.kltown.co.uk/single-post/2020/03/25/Club-statement

https://www.justgiving.com/crowdfunding/kltfc

[pc627]

Does the money already donated go into this fund?

[Brad94]

Does the money already donated go into this fund?

I would probably say in the background it will, and i'm sure the club are appreciative of the money already raised. But I believe the club wanted to go down the avenue of a just giving page. Suppose if we can raise £5,000 across the board again, happy days!

[Mallard]

Just how much is the shortfall ?  The Club seems very loath to let the fans know how much needs to be raised.

Also what about the 80% of wages that the Government have guaranteed up £2,500.   Or will this £2,500 ceiling be reached from players other jobs away from Kings Lynn Fc?   I’m guessing the Government won’t support people with 2 jobs to the tune of £5k

 

[Blue_and_Gold]

If you loan money, its quite normal for a charge to be taken. Unless someone borrows money with no intention of paying it back, what's the problem? 

This really is no different with the money he has put into the Club in the form of Directors loans. He's not "given" the money to the Club, but loaned it. As he controls the Club, he can take it out before paying creditors if he wants to.

So imo he's done it himself (and before is said, its not for tax resons) but does not want others to do the same.

Why mention Orient?  It was their Supporters Club (e.g. fotl) not Trust!


Supporters Trusts are NOT Supporters Clubs! 

[Brad94]

Positive note; the just-giving page has already reached £145 with only three donations made. If everyone donates what that would have spent at the 4 remaining home games- which I believe some people have already done via the "4 game package" so them people do't worry (unless you're feeling flushed and want to donate again) then I think we should be hitting this target in good time!

[Mallard]

My source at the Club tells me this statement has nothing to do with Stephen Cleeve and was put out by an employee in the Media Department at The Club.
 
Axe to grind Mark, or is my information incorrect ?

[somerset linnet]

With regard to the comment quite reasonably raised by PC. What has or is happening with the donations that have already been made by a number of individuals. Is it to be transferred to the new fund? If not, why not and where is it.
 

[macfleetwood1]

Some valid points raised here, I gave a 3 figure donation to the other appeal, is that money going to be added to the "Just Giving Page"?
Just a simple yes or no will do.

[Brad94]

Some valid points raised here, I gave a 3 figure donation to the other appeal, is that money going to be added to the "Just Giving Page"?
Just a simple yes or no will do.

Yes, they shall be getting added shortly. They will be added via the offline donations on the Just-giving page. This figure will be updated daily for any people that do choose to donate through the "4 game package". The just-giving page has now taken over from the Donations page on the website basically.

[Blue_and_Gold]

Just how much is the shortfall ?  The Club seems very loath to let the fans know how much needs to be raised.

 

I presume the shortfall could be varying figure, and depends on if the Players do their bit and volunteer to take a reduction in wages. This would be no different to what many other Clubs have done and many other people in all walks of life have had to.
It's clear that club officials read this forum as they pick up on certain things when it suits them, so I'm sure they would have seen previous comments about this. I do believe that many more Supporters would be happy to put their hands in their pockets if they knew the Players were doing their bit.
So have the Players volunteered to take wage cuts,or has the Club told them they have to regardless ? Are we all in this together or not?

[Mallard]

A few have apparently compromised but the majority have said pay me me what I’m
Owed.   Only about 25% of the players will qualify for the Governments 80% wages scheme.  Plus of course the Club will have staff to pay 12 months a year.

[Blue_and_Gold]

  Plus of course the Club will have staff to pay 12 months a year.

Very few and thats no different to any other business. 

[somerset linnet]

Question answered thanks Brad.

[Stan]

And as I've said before, players may depend upon their income from football. All people tend to spend in relation to their income: mortgages, cars etc. It's all so easy to post a couple of references to players from other clubs offering to take pay cuts and then making the generalisation that Lynn players must do the same! Everyone's personal situation is different. I still don't have any confidence in this line of argument. It's unjustified and will simply discourage fans from contributing: a point that I have made before.