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Commercial

Early Board discussions on possible future funds

22 December 2014

In order to keep fans informed about all matters concerning their Club, this communiqué is to report that last week at a meeting of the newly constituted Club Board, with Paul Tisdale also in attendance, numerous items and issues were discussed.

One particular topic was the way the club should view any possible transfer income. Whilst there is no deal done it is disrespectful to the fans to suggest that there is not a distinct possibility that one or more of our exceptional young players, and there are many, may be transferred possibly in January.

The factors discussed were along the principle of three thirds or three tranches.  The first third or tranche of any prospective figure being used to address and repay outstanding loans as well as capitalise the Club for the future so as to hopefully resolve future cash flow issues to ensure that PFA loans to would not be required in the future.  Funds to address the constant requirements, capital projects and maintenance issues particularly at St James Park would also be factored here.  All other aspects affecting the wide ranging aspects of the Club would fall within this area.

The second tranche would be to underpin the ambition of the club to become a Category 2 Academy.  Currently a Category 3 Club our facilities at the Cat & Fiddle Training Ground prevent our Academy progressing to the next level.  Indoor and rubber crumb facilities are desperately needed and provision of such facilities would not only improve our youth players but significantly benefit our highly-respected Football in the Community Charity operation, and last but by no means least, our first-team squad who are currently making significant headway.

The third tranche would be ring fenced for the playing side.  It should be stressed that this amount, should it transpire, would be used over a reasonable period possibly three or more years to ensure that the investment maximises further income and progression but not such that it leaves the Club in difficulties with an inappropriate and unaffordable wage structure, the downfall of so many clubs, in the future.

It may well be that there are no incoming funds but it was thought important for fans to know that all possibilities, across the Club, are constantly being considered and actively reconsidered in anticipation of prospective events that may affect the Club and its future.

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