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The Falkirk FC Thread


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1 hour ago, PedroMoutinho said:

I have no idea whether it’s true that the auditors have refused to sign off the accounts. Clearly delaying the AGM is an unprecedented and serious step.

Possibly the bod are still in discussions with MR and SA about a funding package. If that is the case, those two will deserve enormous credit for yet again stopping the doors shutting. 

There will also need to be careful consideration imo of whether adding an unfunded £150k to the football budget was a wise move.

Also have no idea as to the truth or otherwise of this story but I have always recognised that the Auditors were going to be the means of bringing things to a head one way or another.
 

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2 hours ago, PedroMoutinho said:

I have no idea whether it’s true that the auditors have refused to sign off the accounts. Clearly delaying the AGM is an unprecedented and serious step.

Possibly the bod are still in discussions with MR and SA about a funding package. If that is the case, those two will deserve enormous credit for yet again stopping the doors shutting. 

There will also need to be careful consideration imo of whether adding an unfunded £150k to the football budget was a wise move.

It's not unprecedented though is it? I'm sure it's been delayed to the following year a few times before.

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9 minutes ago, Sarcastic Bairn said:

I’m not sure if there is any point in having a discussion with people who are ultimately always on here trying to bring the club down.

It’s so obvious it’s not a different view, it’s clearly there to cause fear and rumour amongst supporters.

 

If you aren’t concerned about the club’s financial position, that’s up to you. However, this insinuation that anyone who asks questions is somehow part of an anti-bod/anti-patron conspiracy is extremely unhelpful.

The fact is that if the auditors have refused to approve the accounts on a going concern basis, that’s very serious as they will only do that they believe if a business has to viable alternative but to cease trading.

Edited by PedroMoutinho
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46 minutes ago, LatapyBairn. said:

How do you know the patrons haven’t contributed any additional funding? Have the club released a statement I haven’t seen? I’d heard the opposite to be honest and that there has been a pretty diverse mix of sources within the financial package. I also don’t think anybody thinks or has said hitting 4000 FSS members is a realistic target but getting half of that should be when you see the numbers other clubs who are fan owned have paying into similar schemes. 

I didn’t say the patrons haven’t contributed any additional funding. I said clearly they are unable or unwilling to cover the full black whole amount, so it is a risky decision to then increase the playing budget substantially.

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8 minutes ago, PedroMoutinho said:

 

The fact is that if the auditors have refused to approve the accounts on a going concern basis, that’s very serious as they will only do that they believe if a business has to viable alternative but to cease trading.

Is it actually a fact though?

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20 minutes ago, PedroMoutinho said:

If you aren’t concerned about the club’s financial position, that’s up to you. However, this insinuation that anyone who asks questions is somehow part of an anti-bod/anti-patron conspiracy is extremely unhelpful.

The fact is that if the auditors have refused to approve the accounts on a going concern basis, that’s very serious as they will only do that they believe if a business has to viable alternative but to cease trading.

Of course I would be, can you get me this factual info? 

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15 minutes ago, Rugster said:

Is it actually a fact though?

I think it's more than likely to be true, yes. AGM postponement is a major step and would not be surprised if auditors had refused to approve.

The Scottish Cup being our last hope is a major lol though. There are many ways of raising funds (as we are a fairly large club) - club are obviously exploring all these options. There's no point in covering up that it is a serious financial situation - the 2 guys on the Falkirk Daft podcast were clear imo.

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14 minutes ago, bairn88 said:

I think it's more than likely to be true, yes. AGM postponement is a major step and would not be surprised if auditors had refused to approve.

The Scottish Cup being our last hope is a major lol though. There are many ways of raising funds (as we are a fairly large club) - club are obviously exploring all these options. There's no point in covering up that it is a serious financial situation - the 2 guys on the Falkirk Daft podcast were clear imo.

Absolutely agree there is a serious financial situation, and I also agree that it could be true that the auditors have refused to sign off. I just think it's pretty disingenuous to be claiming it as a fact at this stage based on some two bit William Hill podcaster who supports Berwick and Newcastle.

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I think some of our supporters are in perpetual self denial that the club could be in financial difficulties.
It was obvious to anyone who listened to that podcast a couple of months ago that the situation is really serious. When we are going cap in hand to the people we wanted shot of it’s obvious that we are not in a good place.
We’ve been warned that the plans to raise funds through FSS were not at the numbers needed and investment from elsewhere was a necessity.
I’m not saying we can’t come through this but can we please stop shrugging our shoulders and saying it’ll be alright on the night because we have some decent people in place….

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6 minutes ago, roman_bairn said:


He doesn’t actually say it’s a fact if you reread it though…

Nobody knows the true situation other than the Directors.

Reasonable assumptions can however be made based on the Podcast and the delay of the AGM.

If the situation is serious and they are having difficulty raising the cash to allow the Auditors to sign off the Accounts, in my opinion they should come clean NOW and ask the wider fan base for help. At the end of the day we aren’t going to allow the club to go down but we need the true position put to us. 

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6 minutes ago, Dawson Park Boy said:

Nobody knows the true situation other than the Directors.

Reasonable assumptions can however be made based on the Podcast and the delay of the AGM.

If the situation is serious and they are having difficulty raising the cash to allow the Auditors to sign off the Accounts, in my opinion they should come clean NOW and ask the wider fan base for help. At the end of the day we aren’t going to allow the club to go down but we need the true position put to us. 

And what if they’ve already funded the shortfall or almost funded it and there is nothing to come clean over? They’ve already been completely transparent about 400k operating loss and the efforts that were underway to try and fund it. The later than usual AGM combined with the podcast doesn’t in itself mean anything, it’s just adding 2 and 2 together and getting 5. 

Edited by LatapyBairn.
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As long as people remain transparent. Somebody on here said there is no cash and that is what usually takes a firm under. Trying to sell access to future games is usually one of the last resorts as nobody wants to tie up future income even with only 25 tickets. The problem at this stage is firms and individuals are worried about investing in case administration is imminent. I am sure there are not many Bairns fans who can afford £5k if it just end up giving you a numbered ticket with an administrator. If anyone at Falkirk knows what the situation is I hope they step in before fans spend £5k on a ticket. Rival or not I hope things are not so bad.

 

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37 minutes ago, LatapyBairn. said:

And what if they’ve already funded the shortfall or almost funded it and there is nothing to come clean over? They’ve already been completely transparent about 400k operating loss and the efforts that were underway to try and fund it. The later than usual AGM combined with the podcast doesn’t in itself mean anything, it’s just adding 2 and 2 together and getting 5. 

If they had already funded the shortfall, the AGM would be going ahead as normal or at the very least, we’d have details of when it is taking place.

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5 minutes ago, Reggie Perrin said:

PedroMoutinho really seems to be revelling in this financial crisis which was created by the imbeciles who polluted the Boardroom previously.

Almost as if he has an agenda.

I’ve been very clear that I have no connections to either the current or previous regimes.

I think it is perfectly reasonable to ask questions and scrutinise what is going on whoever the board is or whether people’s mates are on it.

I don’t buy into this idea that we should just sit and clap our hands as there are good guys now on the board. Particularly when some of the posters who were rightly critical of previous boards will now not accept any challenge or criticism of what is going on.

The current board cannot be considered blameless either in my view considering some of the spending decisions that they have made.

Edited by PedroMoutinho
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2 minutes ago, PedroMoutinho said:

If they had already funded the shortfall, the AGM would be going ahead as normal or at the very least, we’d have details of when it is taking place.

How do you know that? There could be multiple reasons for a delay in the AGM, I agree the delay probably was to allow the I’s to be dotted an T’s crossed regarding the new investment and potential soft loans but surely that makes perfect sense? Why have the AGM before that was all finalised? 

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53 minutes ago, Dawson Park Boy said:

Nobody knows the true situation other than the Directors.

Reasonable assumptions can however be made based on the Podcast and the delay of the AGM.

If the situation is serious and they are having difficulty raising the cash to allow the Auditors to sign off the Accounts, in my opinion they should come clean NOW and ask the wider fan base for help. At the end of the day we aren’t going to allow the club to go down but we need the true position put to us. 

I think it has been made pretty clear on various media channels that we need to find around £400k. It's not a secret !

They have asked the wider fan base to help through calls to join the FSS (or the Patrons Group) but this has been largely ignored. Remember they were castigated for the comment re actual numbers joined versus potential core support.  Around 600 members of a 4000 core support, is roughly only 15% of our fans signing up to this initiative to help the club. If the fans truly want fan ownership, we really should be doing better than this.

One thing you cannot accuse the current BoD is that they haven't laid our situation out there for all to see. What we can perhaps argue is that we don't know the current status and where we are in respect to this shortfall.

I'm also of the opinion and agree with LB, that perhaps the reason for the delay in the AGM is to make sure that the funding is in place to satisfy the accountants, prior to the AGM going ahead. Whether it takes place in December or January is pretty much irrelevant as long as the work to secure financing has been done.

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