[Archived] Meeting With The Club.

[JBiz]

Just now, Gav said:

Jbizzle you constantly berate protestors, unless I'm mistaken you're doing it in these very pages, nothing wrong with that, unless your hypocrisy reaches the point where it needs addressing.

You don't protest, that's fine, but don't try and pull the wool over our eyes by claiming you do.

Be comfortable in your own skin, no need to try and impress here.

No, I used "the will to reunite the fans" as an example why not to say someone would take anything from these owners, i.e. If they shat in their shoe and still "feel sorry" for them. 

In hindsight, bad choice of example. Maybe I should've used the reason "not to be a total dick" instead?

 

[Parsonblue]

4 hours ago, Neal said:

 

"i felt sorry for Mike Cheston". 

You'd have come away optimisitic from that meeting if they'd have only shat in your right shoe Parson. 

Yes I did feel sorry for the guy who is clearly not comfortable with public speaking.  You may be comfortable with people giving others verbal abuse.  Personally, I'm not and so Cheston did have my sympathy last night.

[Parsonblue]

3 hours ago, AAK said:

What was the slideshow about? I just didn't get it, it was pointless, especially the bar chart showing how many games Lenihan had played lol WTF!

A couple of times I think Senior knew Cheston wouldn't know what to say and therefore answered the question.

I think he was simply pointing out that lads coming through from the academy are now beginning to make regular appearances for the first team.  Seems a very legitimate point to make with the financial constraints on the club.

[Gav]

Its been a long week, so long I can't even tell if that posts an insult or a explanation......

Either way it's nothing personal, just chit chat Jb.

[Gav]

Just now, Jbizzle said:

No, I used "the will to reunite the fans" as an example why not to say someone would take anything from these owners, i.e. If they shat in their shoe and still "feel sorry" for them. 

In hindsight, bad choice of example. Maybe I should've used the reason "not to be a total dick" instead?

 

Its been a long week, so long I can't even tell if that posts an insult or a explanation......

Either way it's nothing personal, just chit chat Jb.

[Dunnfc]

Just now, Parsonblue said:

You may be comfortable with people giving others verbal abuse.  Personally, I'm not and so Cheston did have my sympathy last night.

Sorry can you expand on the verbal abuse please Parson?

[AndyNeil]

1 hour ago, Dunnfc said:

• Isn't Andy Neil an accountant, what's his opinion on matters? He'd probably know best tbh.

Like everybody I have an opinion on the matter, however unless you follow the EVERYTHING IS EVIL theory then you are shot down in flames over the slightest miswording and its blown out of all proportion.

Season tickets being a relevant and prime example.  EVERY year we have people bitching, moaning and whining about season tickets not being on sale early enough.  The club actually pull their finger out their arse, put them on sale early and now people say 'its because they need the money'.  The ever shifting goalpost moving of those who wish to see ZERO good in the club these days is tiring, boring and makes you wonder 'why bother putting the time and effort into something only to be shot down/torn to pieces by fans who for whatever reason don't agree with your opinion, don't like you as a person or both'.

My opinion is just that, opinion.  The club nor BBC Radio Lancashire seemed to want to spend much time on it and why should they? Financially we aren't in a hole, we are at the bottom of a deep, deep volcano which could blow anytime.  The most alarming thing from last night was the lack of ability to acquire loans at high street rates...Mike Cheston mumbled something about it being common practice

The debt (internal and external) will NEVER be paid back unless Venkys write off the c.£87m they are due. Paying out nearly £2m per year in interest when we spent 12.5% of that on transfer fees shows the financial position the club finds itself in.  Its a mess and I genuinely can't see a way out of it - that is the most depressing part for me.

[Dunnfc]

Just now, AndyNeil said:

Like everybody I have an opinion on the matter, however unless you follow the EVERYTHING IS EVIL theory then you are shot down in flames over the slightest miswording and its blown out of all proportion.

Season tickets being a relevant and prime example.  EVERY year we have people bitching, moaning and whining about season tickets not being on sale early enough.  The club actually pull their finger out their arse, put them on sale early and now people say 'its because they need the money'.  The ever shifting goalpost moving of those who wish to see ZERO good in the club these days is tiring, boring and makes you wonder 'why bother putting the time and effort into something only to be shot down/torn to pieces by fans who for whatever reason don't agree with your opinion, don't like you as a person or both'.

My opinion is just that, opinion.  The club nor BBC Radio Lancashire seemed to want to spend much time on it and why should they? Financially we aren't in a hole, we are at the bottom of a deep, deep volcano which could blow anytime.  The most alarming thing from last night was the lack of ability to acquire loans at high street rates...Mike Cheston mumbled something about it being common practice

The debt (internal and external) will NEVER be paid back unless Venkys write off the c.£87m they are due. Paying out nearly £2m per year in interest when we spent 12.5% of that on transfer fees shows the financial position the club finds itself in.  Its a mess and I genuinely can't see a way out of it - that is the most depressing part for me.

Good post and shows you as a professional accountant being worried. Credit to you pal

[1arC]

Just now, AndyNeil said:

Like everybody I have an opinion on the matter, however unless you follow the EVERYTHING IS EVIL theory then you are shot down in flames over the slightest miswording and its blown out of all proportion.

Season tickets being a relevant and prime example.  EVERY year we have people bitching, moaning and whining about season tickets not being on sale early enough.  The club actually pull their finger out their arse, put them on sale early and now people say 'its because they need the money'.  The ever shifting goalpost moving of those who wish to see ZERO good in the club these days is tiring, boring and makes you wonder 'why bother putting the time and effort into something only to be shot down/torn to pieces by fans who for whatever reason don't agree with your opinion, don't like you as a person or both'.

My opinion is just that, opinion.  The club nor BBC Radio Lancashire seemed to want to spend much time on it and why should they? Financially we aren't in a hole, we are at the bottom of a deep, deep volcano which could blow anytime.  The most alarming thing from last night was the lack of ability to acquire loans at high street rates...Mike Cheston mumbled something about it being common practice

The debt (internal and external) will NEVER be paid back unless Venkys write off the c.£87m they are due. Paying out nearly £2m per year in interest when we spent 12.5% of that on transfer fees shows the financial position the club finds itself in.  Its a mess and I genuinely can't see a way out of it - that is the most depressing part for me.

There we have it, a professional accountant saying it, as it is. Also the emoji after the Mike Cheston quote about the high rate loans being common practice, says it all. I am sure it is common practice for a club in deep financial trouble and as Andy puts it, at the bottom of a deep, deep volcano. I cannot for the life of me, see us existing in this format, in the next 12 month's.

[DE.]

20 minutes ago, Parsonblue said:

I think he was simply pointing out that lads coming through from the academy are now beginning to make regular appearances for the first team.  Seems a very legitimate point to make with the financial constraints on the club.

Hopefully he had a line graph which correlated the academy players coming through with a rapid decline in league position. That's what has actually happened, after all.

[1864roverite]

There is TOO much bickering between members of this forum to make any sense of comments/views.

[Mike E]

RV... what say you to the professional accountant, who just laughed at the idea of these loans being common practice?

[RV Blue]

Just now, Mike E said:

RV... what say you to the professional accountant, who just laughed at the idea of these loans being common practice?

Smart arse aren't you Mike? They aren't common practice for firms doing well (obviously), but we aren't doing well (obviously). BTW I said short-term loans are common practice, not whatever loans we might or might not be using (that 100% aren't payday loans).

[Dunnfc]

Just now, RV Blue said:

Smart arse aren't you Mike? They aren't common practice for firms doing well (obviously), but we aren't doing well (obviously). BTW I said short-term loans are common practice, not whatever loans we might or might not be using (that 100% aren't payday loans).

And what's the correlation of those that take them and don't do well?

[Mike E]

Just now, RV Blue said:

Smart arse aren't you Mike? They aren't common practice for firms doing well (obviously), but we aren't doing well (obviously). BTW I said short-term loans are common practice, not whatever loans we might or might not be using (that 100% aren't payday loans).

We are using short term loans...

I may be a smart-arse but I'm not the one who insists I'm right despite two professionals in the finance world have contradicted you.

Also, there are at least 2 other professionals with finance backgrounds regularly at WMC (also posters on here) who concur with that.

[Dunnfc]

Another ex employee tonight messaging me for a meet

[blueboy3333]

Just now, Dunnfc said:

Another ex employee tonight messaging me for a meet

It's like Watergate. 

Who's 'Deep Throat'?

[RV Blue]

Just now, Mike E said:

We are using short term loans...

I may be a smart-arse but I'm not the one who insists I'm right despite two professionals in the finance world have contradicted you.

Also, there are at least 2 other professionals with finance backgrounds regularly at WMC (also posters on here) who concur with that.

Sorry, when did they contradict me? I said short-term loans are common practice, Cheston said we are using short-term loans, short-term loans are common practice. Dunn & Andy aren't talking about standard short term loans, they are talking about emergency loans, which we may or may not use, I don't know.

[Mike E]

In that case, I shall hold my hands up. I presumed you meant the same loans as Andy and Dunn.

Not-so-smart-arse 

[Neal]

1 hour ago, Parsonblue said:

Yes I did feel sorry for the guy who is clearly not comfortable with public speaking.  You may be comfortable with people giving others verbal abuse.  Personally, I'm not and so Cheston did have my sympathy last night.

 

After blaming the fans for "damaging the club" i'd say a swift kick in the pillocks wouldn't even suffice... Yet he says these things on behalf of Venkys, takes the Venky rupee, gets a bit of stick and you feel sorry for him...

[Oldgregg86]

Trying to listen now but with a crap crackling radio and a 3 year old bouncing off my head it's impossible. Can someone post a link on here so a can listen when my kids in bed

[broadsword]

Sorry, I've not followed everything here, but is the general jist that we are using short-term finance at punitive rates just to meet operating costs?

[blueboy3333]

http://www.farrer.co.uk/Global/Briefings/Forward Funding - Martin Blake Farrer Co July 2014.pdf

An article on 'monetising future revenue streams', or 'pay day lending', to football clubs.

https://www.investec.co.uk/research-and-insights/markets/lending-to-football-clubs.html

Some explanation as to why clubs can't rely on traditional bank lending anymore. 

[Dunnfc]

Just now, broadsword said:

Sorry, I've not followed everything here, but is the general jist that we are using short-term finance at punitive rates just to meet operating costs?

Yes. Cheston confirms its being used as working capital as every business does this 

[Stuart]

9 hours ago, Miller11 said:

Would you allow your child (we are their baby after all) to borrow from Wonga to pay their utility bills if you had millions of pounds sat in the bank?

I think that's the best and most succinct way that I've seen it put. Spot on.

The trouble is they have only been pretending we are their baby. In reality we are a child of one of their friends that they've been dumped with and since they don't like us or want us, they've just left us to fend for ourselves in a shed in the back garden out of the way. If football had a social services department...