Howlin' Wilf
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Posts posted by Howlin' Wilf
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The problem that Brabco have is that I would imagine it's quite difficult for them to force us into folding as a club. I'm not sure they have any cards to play that would have a negative impact on our financial state.
Ironically if they had actually invested/loaned us some money like most owners they could probably have called in their loans and made us fold that way.
As the 75% majority shareholders in Dumbarton FC, there is no advantage to Brabco in the club “folding”. If you mean entering administration or a creditor calling a winding up order on them, they immediately lose control. The administrator/liquidator would then seek a buyer for the clubs assets.
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I understood that Chris Stainton was not involved in Brabco anymore, ditto Andy Hosie. The only two directors at Brabco are Ian Wilson and Peter John Steede. They appear to be in no hurry to do anything https://www.dailyrecord.co.uk/news/local-news/controversial-dumbarton-fc-stadium-move-21985464?utm_source=linkCopy&utm_medium=social&utm_campaign=sharebar
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On 02/02/2021 at 13:10, Bring Back Paddy Flannery said:
Forfar, who I’d consider direct rivals this season, and one of our main hopes for staying up, have made 4 signings.
Just had a look at their accounts. They were in a much better financial position than DFC at May 2019 (the most recent available comparison) and no overdraft.
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48 minutes ago, The Moonster said:
We've written to the SPFL along with every other club in the league saying we'll test our players and staff if they let us start playing again.
OK, that's contingent at the moment. I am simply saying what the overall financial situation is to clubs at our level and at our club in particular. The £150,000 from the SG is very generous and may see us through the current crisis.
Businesses in financial difficulty still pay bills (Kilmarnock are testing but have applied for an emergency loan of £1m). It seems from the most recent figures available, that DFC are doing this by going further into debt. At May 2019 the club owed £28,000 more than they did a year earlier. They are paying taxes with debt (overdraft) which is not good.
I sincerely hope that the situation is not as bad as it appears.
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14 hours ago, The Moonster said:
If we're skint, how are we affording to test the whole squad every week from now until May?
Are we?
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On 17/01/2021 at 09:04, The Moonster said:
If its the same thing that's on the OS, and you believe that statement is John warning the fans of existential danger, can I ask why there's a need for diplomacy?
If we're about to go out of business get the cards on the table and tell fans the situation. Saying times are hard is stating the obvious, if fans are supposed to read that as an SOS and spring into fundraising action then I'm afraid the wake up call is a poor one.
It's a wake up call.
The bucket of cold water may come later.
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I suppose most here will have received the email from John Steele. Fair play to John, he's putting his heart and soul into the job and no little effort. The club will benefit I think from his recent retirement from Brunton Miller.
It would though, be foolish to ignore the subtext of the email. John is, in his own diplomatic way, giving us a wee wake up call I think.
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The Anderson money was paid in full as soon as you asked for it. There are conditions on what it can be spent on but you get the cash up front in the bank account. The compliance is audited retrospectively.
The Scottish Government cash was 50% paid to clubs before Xmas. Not sure when the other half is coming.
https://www.glasgowlive.co.uk/sport/football/football-news/celtic-rangers-involved-spfl-crisis-196144540 -
Sharp intake of breath at Queen's Park appointing Leanne Dempster as Chief Exec.
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You can see the keeper on this link. Only lets in one goal but it's a poor one.
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I see that the young keeper was on loan in 2019 for two months from Birmingham at Gloucester City who play in the sixth level in England.
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34 minutes ago, The Moonster said:
Not really. The overdraft is something the club has pretty much always operated on, it's not anything new. We owe "trade creditors" and "other creditors" - that tells you hee haw about who it's owed to. Are the debts being called in this year? If not, it's not an immediate concern to keep the business running. I'm assuming we've paid our tax or HMRC would be knocking the door down.
If the club were to enter administration tomorrow you would have around 90% of the support in shock. Your average fan doesn't read the club accounts so I'm not sure note 2.2 hidden away in that document is "making it clear" to the fanbase that we could die at any moment.
I'm getting a bit tired of the "no pot to piss in" narrative.
I posted note 2:2 here recently. I may paraphrase but it basically said that the club was only in a position to continue as a going concern because a benefactor had guaranteed the club's debts for a limited time.
The overdraft when listed as due within a year means that it is up for annual review.
ETA "The overdraft is something the club has pretty much always operated on" - They didn't have one in 2018.
"I'm getting a bit tired of the "no pot to piss in" narrative"
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27 minutes ago, The Moonster said:
If £134k was due to be paid in May 2020 then we either paid or whoever is owed it didn't hasn't gone mental for it, considering we're still here. Debt can be scary written down but we don't have a clue who is owed it or if they're calling it in. Does the overall creditors figure also not include money owed to Rankine from Brabco?
If we are in such a precarius position that we can barely survive then I'd hope an emergency meeting would be arranged or at the very least an emergency fund would be set up.
We certainly have some clue who is owed the money by reading the accounts.
We are in a precarious position and we are barely surviving. This was made clear in note 2:2 of the accounts in May 2019. It is very difficult to see how this situation can have improved since then.
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On 07/01/2021 at 09:56, The Moonster said:
Since March last year the club has received around £30-35K in donations from fans, £50k from James Anderson and £150k from the government. We also had the players and staff furloughed for much of last year. I get we have running costs and we've barely had a home game, but surely with over £230K in donations in the last year (and the low level of player we have on our books) the stress of staying in business isn't quite what it was when this kicked off?
In their May 2019 accounts the club had creditors falling due by May 2020 of £134,619. They had a total due to creditors of £359,218.
These figures are accumulated debt and do not include running costs.
At May 2019 the club had an overdraft of £32,451 and owed £19,454 in taxes and social security.
Any receipts in the last few months, have to be viewed in this context.
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1 hour ago, O'Kelly Isley III said:
I'd like to think that the departure of Kevin Dabrowski and the current fixture suspension could be a catalyst for the DFC Board and Jim Duffy to now engage in a frank and hopefully constructive discussion as to how we go about remaining in this Division. We are all aware of the pressures under which the club is currently operating but it would be a missed opportunity not to explore changes additional to a replacement keeper.
I'd guess that over 90% of any energies available will be deployed in keeping the club in business.
Dabrowski has been great for us but he'll be delighted at the possibility of getting a chance with Hibs, a chance that arrived due to his form with us. Best wishes to him. Chris Smith has been decent when we've called upon him but he's injury prone we now need cover.
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33 minutes ago, O'Kelly Isley III said:
Huntly 1 Colts 1 at half time.
2-1 Huntly ATM
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On 02/01/2021 at 10:43, Dumbarton Rock said:
I don't think it would be that easy to just lay a plastic pitch due to our subsidence. The pitch is still moving towards the river and the dip used to flatten out round about the first goalpost, it now carries on about 20ft by the goals. It would cost a 5 figure sum to level it before you could even start on it. Add in the fact you wont stop it continuing there could be a major problem. I'm no expert but you don't notice it with grass and I'd imagine the astro would just rip, it's not just an inch or two we are talking about.
It wouldn't cost that much with a bit of ingenuity. A landowner, not a million miles from the Rock charged Barr (yes them) 1,000 per ton to dump rubble on his land from the Gartocharn Reservoir works. Just a pity they couldn't have dumped a few tons at the stadium and the same company might have been paid in full for building the stadium at the Rock! (instead of being docked for the subsidence)
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8 minutes ago, el Gringo said:
It’s supposed to be a 1:00 kick off.Aye of course. oops!
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47 minutes ago, O'Kelly Isley III said:
9am inspection tomorrow, I'm not sure why to be honest.
To stop people turning up of course!
oh wait.....
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16 hours ago, Tutankhamen said:
Tbf Boghead was a glorified Junior ground.
Tbf it got a safety certificate to host Premier League football in 1984-85.
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16 hours ago, Arch Stanton said:
This was Rangers response to the 71 disaster. They replaced the side fences with rails and put a big sign at the top reminding fans to be careful.
.....as a precursor to demolishing three quarters of the stadium and rebuilding it as a seated arena to be fair.
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Met office giving similar info.
https://www.metoffice.gov.uk/weather/forecast/gcuy20t0g#?date=2020-12-26
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3 minutes ago, Bring Back Paddy Flannery said:
I’m seconds away from the stadium and I can confirm the wind isn’t even half as bad as that shitey BBC forecast, which is pretty much wildly inaccurate on a daily basis. Other outlets reporting the wind in the mid 20s, and even that seems a bit of a stetch.
There’s also only been 2 games played on that pitch in 2 months.
Not good enough IMHO.
I can't take issue as I'm not in Dumbarton. The rain is coming down in sheets and it's blowing a hoolie in Helensburgh. A yellow weather warning has just been issued
https://www.metoffice.gov.uk/weather/warnings-and-advice/uk-warnings#?date=2020-12-26
Cape Wrath and Helensburgh mentioned in this report.
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Heavy rain and 50mph south westerly winds (ie blowing right up the park) at 3:00pm onwards. Correct decision.
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Sons' sorrow
in Scottish League 2 General Chatter
Posted
The “so called golden shares” is right. It’s a nickname. Dumbarton FC Ltd. had until 2001, two categories of shares, namely A and B. The “so called golden shares” are 100 special category C shares listed in the Articles of Association of the Company. These C shares are held by a Limited Company by the name of Dumbarton Community Stadium. The wording of the conferred rights of these shares has been debated and discussed. However, the purpose of the special category was clearly to prevent the sale of the club’s heritable property and I believe were the situation ever put to the test that the holders of these shares would have a pivotal role. In the event of administration or liquidation of course control and decision shift to the administrator/ liquidator.