Author Topic: Two more games  (Read 1333 times)

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Birc95

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Two more games
« on: February 19, 2021, 02:51:12 PM »
Just read the article in the eastern daily press regarding “two more games then we close” as stated by our chairman mr Stephen cleeve....where would it leave us according to the national league hierarchy🤔

Dilligaf

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Re: Two more games
« Reply #1 on: February 19, 2021, 03:24:41 PM »
Wait and see first.... :farmer:......would have been interesting to see what decision the chairman would have made today....IF....the next 2 games were away instead of at home.... :dontknow: :dontknow:

Realist

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Re: Two more games
« Reply #2 on: February 19, 2021, 06:07:55 PM »
I am not up to speed with the finer detail, finance is not my thing. However I read and note that the club was supported along with all the other clubs by a Covid situation grant last year and mid pandemic. Now a facility is on the table but this is a method of loan , not grant. I guess the country is tight and so many need additional cash where it cannot and will not be paid back, and even clubs that are not rich but are able to survive in non pandemic times cannot qualify. Therefore the one question that should be followed through is :- What are the loan terms offered to National League Football Clubs? are they sympathetic , an example of this is student loans, and maybe a recovery period before any repayment is required on those lines. Or is the offering aggressive with rapidly rising interest rates etc etc. I have probably missed the answers to this but remain curious, many clubs you would expect to be in the "struggling" group voted to play on ? therefore how? If the terms were of the sympathetic type, would the trust be keen to get on board? and maybe help preserve current club status.

admin

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Re: Two more games
« Reply #3 on: February 19, 2021, 06:16:31 PM »
Therefore the one question that should be followed through is :- What are the loan terms offered to National League Football Clubs?
"Loans would be managed by Sport England and are repayable over 10 years at an interest rate of 2%, although there is thought to be an option for extensions and a payment break."

There is also this from 27 January:
"Confirmation that clubs in National League Steps 1 and 2 can apply for grants if their imminent future is at risk and they can demonstrate loans are unaffordable"

Realist

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Re: Two more games
« Reply #4 on: February 19, 2021, 06:35:43 PM »
Thank you, so the Chairman (who must be praised for paying the weeklies to date, from the previous grant and very recently his pocket) has options, but his business sense determines taking a loan will dissolve the club? even if the terms seem practical and reasonable considering the situation. He who dares wins, Kings Lynn will always have a football club and I think many clubs must be taking in loans funds right now. Interesting times and very sad, but if there is a glimmer of hope in preserving current status it must be an option. The risk here appears to stay with the loan provider, and quite rightly so!!

Mallard

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Re: Two more games
« Reply #5 on: February 19, 2021, 06:51:31 PM »
If Mr Cleeve was to declare the club bankrupt i assume we would receive a 2 step demotion ( step3).  Which in fairness is the level a club  like Kings Lynn should probably be playing at.    In this instance SC has plenty of time to organise a prepack deal.

KES80

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Re: Two more games
« Reply #6 on: February 19, 2021, 09:52:23 PM »
Not a sensible option at this time. Seven clubs voted  not to continue in the NL...most of those because they feared insolvency or serious financial loss if they carried on. I would think that if nothing is forthcoming from the NL over the next 10 days, SC could take the same route as Dover and effectively moth ball the club. By that stage a couple more clubs may well have made similar statements and the NL's hand will the be forced into doing something. Once 5/6 teams have declared themselves in real trouble and agreed to stop, there will be real force and safety in numbers. Actually a team like Kings Lynn probably should be at this level from a footballing point of view....it is just that the finances have got out of hand and the gvnmt/FA need to step in and sort it out.

IMO silly to throw away the hard earned gains of the last 3 years..........if need be furlough and sit it out

macfleetwood1

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Re: Two more games
« Reply #7 on: February 20, 2021, 11:08:50 AM »
It was interesting to read how much Norwich City are getting the benefit of Lynn being in the National League, well how far are they prepared to go to make sure we stay there? Please don't tell me they cannot afford to help us.
Another option, those clubs that no longer wish to continue all quit together, I think the league would have to find a solution pretty quick.

Mallard

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Re: Two more games
« Reply #8 on: February 20, 2021, 11:48:01 AM »
Could be that the other 6 clubs who voted against continuing are watching to see what happens to Dover.   If Dover get hit hard then maybe the 6 will try and find a way to continue.

If NL treat Dover with kid gloves the others may then follow suite and refuse to play.   Could this then set a NL precedent for things going forward in years to come.?

It’s a very tricky situation for the NL and those 7 Clubs.  Dover are the without doubt the test case.

Dilligaf

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Re: Two more games
« Reply #9 on: February 20, 2021, 12:59:28 PM »
I agree Mallard....but on the other side of the coin.....the NL might just want to make an example out of Dover fc to prevent other teams from taking that option.... :dontknow:
It's a difficult one and like I said in previous post....I really do think it's a game of brinkmanship between clubs owners/chairmen and the NL board.
Who's going to cave in first??
Owners and chairmen saying we cant afford it.....and....more than likely NL board members saying they can afford it, they'll find the money from somewhere.
Let's hope in this game of cat and mouse....somebody comes to their senses before there are any permanent casualties

MARCUS ROSE

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Re: Two more games
« Reply #10 on: February 20, 2021, 07:08:52 PM »
In the EDP today Mr Cleeve says

"The National League is a division of haves and have nots – it includes a clutch of former league clubs, some of which have received parachute payments after relegation and others, like Wrexham, with wealthy financial backing. Others can finance themselves through their academies.

How do these Academies differ to Kings Lynn's? 

Paul47

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Re: Two more games
« Reply #11 on: February 20, 2021, 07:20:01 PM »
In the EDP today Mr Cleeve says

"The National League is a division of haves and have nots – it includes a clutch of former league clubs, some of which have received parachute payments after relegation and others, like Wrexham, with wealthy financial backing. Others can finance themselves through their academies.

How do these Academies differ to Kings Lynn's?

I would guess as others have more established academies than ours (which is in first year) they’ve sold players on and reinvested?

 

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