Budgets

[Veratis]

Whilst like most fans I'm delighted at the speed, quality and age profile of players that have been signed by the new coach for which he deserves credit along with the new owners making the decisions albeit not with the formality of there names on Companies house yet. Does anyone really believe with the exception of a couple of naysayers that this will not happen in due course when agreements with the DCMS and I assume the Trust are concluded.
However my only slight concern is the financing of this new squad against the background of the impending DCMS repayments and that the Club lost over £200k last season with a similar size squad. The only difference so far seems that at least 6/7 of the players are locally based which must save some money on accomodation and travel expenses. I just hope that the new owners are not just keeping fans happy whilst taking there eye off the bottom line. After the Cleeve years of " jam tomorrow " we now want an owner who is realistic and matches expectations to income.

[Pink]

It seems possible that one or two of Lakeland’s signings might move on as time goes on.

Also, I could be wrong but I got the impression that training was to be based at Lynnsport and The Walks rather than the more expensive Ely option.

[Blue_and_Gold]

Whilst like most fans I'm delighted at the speed, quality and age profile of players that have been signed by the new coach for which he deserves credit along with the new owners making the decisions albeit not with the formality of there names on Companies house yet. Does anyone really believe with the exception of a couple of naysayers that this will not happen in due course when agreements with the DCMS and I assume the Trust are concluded.
However my only slight concern is the financing of this new squad against the background of the impending DCMS repayments and that the Club lost over £200k last season with a similar size squad. The only difference so far seems that at least 6/7 of the players are locally based which must save some money on accomodation and travel expenses. I just hope that the new owners are not just keeping fans happy whilst taking there eye off the bottom line. After the Cleeve years of " jam tomorrow " we now want an owner who is realistic and matches expectations to income.

Registering as PSC at Companies House is not discretionary. It's mandatory. Its also quite simple to do. There must be some reason behind an obvious reluctance to do so. Bal said Trusts job was good governance. Well here's their first opportunity to make sure things are done correctly (and signing an NDA wouldn't effect this). The Happy Clappy brigade may not think this matter  important but we are a NLN Club, not a Saturday League team. In fact, this matter is important enough that failing to register PSC at Companies House can actually carry a prison sentence.

The DCMS loan is a completely different matter, and has nothing to do with Companies House.

So, as this subject has been raised, what exactly is the Club trying to negotiate? Would it really hurt to inform the fans, and in particular the Trust members? After all, they are after 95k of supporters money. Whats the big secret on this one?

What if the DCMS say no to renegoiating the loan? Does that mean that Jo will cut his losses and say good bye? Jo wants his 700k back (apparently Cleeve claims its only 500k). If anyone (Club, Trust, Supporters) would like to inform us how a club this size can afford to repay 700k to Jo and also service a 500k loan to DCMS, then we are all ears. There are also quite sizable other loans outstanding (e.g. Directors loans). Its ok saying these will be wiped off but if that's the case, why haven't they been already?

Going forward, and if current activities and the way things are being done are anything to go by, it looks like supporters being kept out of the loop but at the same time being asked to pay more, is going to be worse than its ever been.

Unfortunately there's still appears to be areas of concern, and many issues that need resolving.

Squad wise, all looks good and well done to whoever it was at the Club that made the decision to give JR the job. Certainly looks like a more attack minded squad that what AL assembled, and I'm sure the football will be far more entertaing this coming season.

[Blue_and_Gold]

Also, I could be wrong but I got the impression that training was to be based at Lynnsport and The Walks rather than the more expensive Ely option.

 

Not heard that one.

If true and it works, makes sense.

[Mallard]

So if the committee of the Trust have agreed to a NDA then how many people have had full sight of all the facts ( I use the word closely) ?  I’m a little confused ( it doesn’t take much) but how can the representatives of the full membership agree to a NDA which is affect keeping the full facts away from the people they have been elected to represent ?   

Is any of that anywhere near  legal ? Could the full information be forced to be made available under the freedom of information ?

[Blue_and_Gold]

So if the committee of the Trust have agreed to a NDA then how many people have had full sight of all the facts ( I use the word closely) ?  I’m a little confused ( it doesn’t take much) but how can the representatives of the full membership agree to a NDA which is affect keeping the full facts away from the people they have been elected to represent ?   

Is any of that anywhere near  legal ? Could the full information be forced to be made available under the freedom of information ?

Not directly, but if they are in anyway dealing with a public body, such as the council (IE organisations that are subject to FOI), then yes.

Supporters Trust recommend that Trusts operate under the FOI criteria, but it's not mandatory. I have asked the Trust committee for certain information, but my request was completely ignored. On another occasion I was informed "I'm limited to what I can tell you".  I'm not saying anything here that I haven't said to Trust Directors but how a Trust (open and honest), who's first obligation is to its members, can even contemplate entering into an NDA is completely beyond me. At the very least the members should have been consulted prior to the Trust entering a NDA (IE been given permission). Going forward, with some very important decisions to be made, how will members now know they have the full story, or that important points have been left out at someone else's discretion? 

Bal refusing to enter into negotiations without a NDA being signed is a lame excuse. That's not the way to commence a working relationship. If he wanted access to 95k then he's hardly the one that should be allowed to dictate terms.

Is the NDA a two way thing? Is it time limited? We just don't know.

The Trust committee should be representing the members and their views and be putting  forward their opinions and ideas for negotiation (not just the committee members). Sadly we haven't had the opportunity to do that. All we have had is a chance to vote on things that the Club and Trust Committee had decided they were going to put forward to Trust members and allow them to vote on.

I just don't see that's the right way to go about things when a Trust is involved.

There's more I could add on this subject, as it has already had repercussions, but I'll refrain from doing so at the moment.

The Trust committee have done a tremendous job over the past 14 years, in particular the Chairman who has held it all together despite continual sh*t and abuse from certain sectors (who have now been proven to be so, so wrong). Sometimes assisted by others, even if its only to the extent of making sandwiches. He should be thanked for that. Without his efforts I'm sure the Trust would have folded by now. I've fully supported his efforts both financially (via contributions to Trust via sponsorship, raffles etc), and morally.

I just can't support the Trust entering a NDA resulting in them not being able to report back to their members. I just find that crazy and even bizarre! I can't understand the logic behind it. I think the current  lack of information proves a point, and I don't subscribe to the bog standard answer of there being nothing to tell us (and again, due to the NDA how would we know?). Why should Bal have the right to vet whats being reported to the Trust members?

A NDA is hardly conducive when it comes to a Trust committee communicating with it's members, which surely must be one of, if not the, most important things when it comes to running a Trust.  Is this what we can expect in future, if and when the Trust becomes financially involved with the Club?

Of course if they wanted to, they could always withdraw from the NDA. 

[Blue_and_Gold]

Also, I could be wrong but I got the impression that training was to be based at Lynnsport and The Walks rather than the more expensive Ely option.

 

Not heard that one.

If true and it works, makes sense.

Correct Pink. Good spot!

Apparently they have managed to secure four slots a week at two hours a time.

 

[Quinn Upstone]

I'm quite alarmed about this NDA thing.

It sounds like trying to climb up a greasy lamppost with one hand tied behind your back, blindfolded and singing Phantom of the Opera. In Latin. Backwards.

The whole raison d'etre of the Trust, and it's "selling point", has always been that they have elected board members and specific criteria for the use of the money raised.

But if you can't even tell your own members what's happening, I think it looks pretty poor.

Surely, once they knew about the prospect of an NDA, they should have called an emergency meeting for permission to act in the best interests of the Trust, and, only secondly, the club.

I'm unaware if the Trust directors already have such a mandate, of course.

And all this cloak and dagger stuff behind the scenes taints the excitement of having a great season in the making.

Good news only please 😺

[Blue_and_Gold]

Email just gone out to Trust members.

Very Cleeve like in my opinion with "conjecture and conspiracy theories" quote.

Appears to be a deflection job by the author, as no such things being mentioned on here. Of course if there was, it would be down to the Trust committee deciding to take the road they have, with all the secrecy involved.

This is an email to the Trust members. Would they like to try again?

The fact is that the Trust HAVE got things to report and really should do so.

For starters. What exactly is being renegotiated with regards to DCMS loan? Hopefully a community organisation will not support any attempt to get the taxpayer to fund any part of this loan. Club took the loan, Club should pay it back.  I hope the Trust don't say they are not aware of what TSI are proposing as they really should know this kind of thing if there is to be a workable relationship going forward.

The 700k "loan" . Nothing is secured against the club or Blue and Gold Holdings, so exactly what legal arrangement is in place that allows Jo to claim this back? What hold, financial or otherwise, does Bal have over Cleeve on this point?

Hopefully the Trust won't say they don't know, as they do! If they think that's not worth reporting, then I don't know what is.

I informed the Trust months ago that DCMS would have to approve any change in Directors, unless the loan was repaid. I was told that wasn't the case. From previous comments I honestly don't think Bal was aware of this condition when the takeover was first considered.

The email states that Bal will inform Companies House once the takeover is complete! It's not about ownership, it's about who controls the Club (as has been said numerous times). They need to register any person that has an interest in controlling the Company. They don't need to own any shares or even be employed by the Club. We now learn that Jo and Bal have had control for a considerable period of time but if there was any doubt before, there can't be now that the POA is in place.

TSI and Bal control the Club and they need to register as PSC. That's not conjecture or a conspiracy. It's fact.

[MARCUS ROSE]

Move along. Nothing to see here

[Blue_and_Gold]

Move along. Nothing to see here

If only!

[peter]

Thank you for all this information but again I ask. Where is the money coming from?

[Blue_and_Gold]

Thank you for all this information but again I ask. Where is the money coming from?

 

[Mallard]

300 plus season tickets sold so that’s a nice little start, but is that just kicking the can down the road for later in the season ?

95k to come from the Trust, once the ongoing situation is finally resolved, one would assume.

The mystery stand Sponsor will hopefully stay onboard under the new regime ( I nearly said that with a straight face).

[Blue_and_Gold]

The mystery stand Sponsor will hopefully stay onboard under the new regime ( I nearly said that with a straight face).

Presumably Bal must be happy with the source of this income otherwise he would have met with his legal obligation and made a money laundering report.

Presumably, nothing to see here!