The Falkirk FC Thread

[Guest]

12 minutes ago, MulsonFFC said:

This is the bit I was missing and still have some questions about though.

Are new and continuing FSS contributions really going to the club or is it going on loan repayments?

Falkirk Forever is touted as any money raised goes directly to the football budget so why is that not a valid alternative?

Falkirk Forever made absolutely no sense when it was announced but based on the answers to these it starts to make perfect sense and almost as if it has been created with this purpose in mind.

The detail will be revealed but as far as I know the repayment is over a long term and therefore only a relatively small amount each year. 

If FF was created for that purpose then it’s a poor show as leaves FSS to take responsibility whilst the club has zero liability and all of the money. They shouldn’t be offering an alternative but thankful to FSS and making sure that they equally do everything to ensure FSS grows to ensure repayment of the loan will never be an issue. The money that comes to the club via FSS will go in to the exact same pot as FF too. 

[Gringo]

Can’t wait to see the details but feels a bit strange that a cash-strapped government can dole out loans to football clubs albeit in the form of a loan. I’d imagine we’ll not be the only club to benefit.

Presumably this will be to FSS who will give the money to FFC in return for shares and then the governance will be in the hands of the directors. That will be the important bit. Will they spend it wisely?

[Roboccop]

So some detail:

1. This is an interest free loan over 20 years. If we had to pay interest then it would cost us around £160,000 but that has been waived. Essential a donation to FFC

 

2. The loan is unsecured. If for any reason it had to be repaid early ( and that would only be if there was malfeasance) then the club would not be liable for repayment. Fss would only be liable for what ever funds it had. But the money will be given to the club immediately FSS get it. 
 

3. only 20% of FSS income will go to repayment  the other 80% will still go to the club each month  members of FSS will still be donating around 80,000 direct to club each year  the first repayment is in August 2025  each year inflation will reduce the real cost of repayments  

4. it is important that FSS continues to grow amd members still contribute monthly  this will not only cover the repayments amd new money into the club but also keep FSS as having a huge say in the way the club is run  

 

5 this money could only be used by the Scot Govt to make socially useful loans  football clubs are at the heart of most communities and any money the club takes in will be spent in a way that helps local and other companies  

 

6. the community will benefit via the Falkirk Foundation over 300 kids and women and older people use the pitch 360 days a year and that is of huge benefit  

7. in the future other clubs can apply for similar funds  we were chosen because we are democratic, transparent, committed to diversity and forward thinking  Fss was heavily audited by the Scot govt and after due diligence passed with flying colours  

8. none of this would have happened without FSS’s members  this is testiment to the Falkirk supports generosity and enthusiasm to get our club back where it belongs  only by having an organisation  such as FSS could this loan have been agreed  we hope people will get behind FSS and we can continue to grow as the supporters voice  

 

 

 

 

 

 

 

 

 

 

 

 

 

[Bairnardo]

Outstanding.

 

It's our fucking club now lads

[falkirkzombie]

Honestly can't see a down side of this....well done FSS & FFC

[ilostmyself]

Full credit to everyone involved in this. I think it's absolutely fantastic and will give the FSS and the club a huge boost.

[bairn88]

8 minutes ago, Roboccop said:

So some detail:

1. This is an interest free loan over 20 years. If we had to pay interest then it would cost us around £160,000 but that has been waived. Essential a donation to FFC

 

2. The loan is unsecured. If for any reason it had to be repaid early ( and that would only be if there was malfeasance) then the club would not be liable for repayment. Fss would only be liable for what ever funds it had. But the money will be given to the club immediately FSS get it. 
 

3. only 20% of FSS income will go to repayment  the other 80% will still go to the club each month  members of FSS will still be donating around 80,000 direct to club each year  the first repayment is in August 2025  each year inflation will reduce the real cost of repayments  

4. it is important that FSS continues to grow amd members still contribute monthly  this will not only cover the repayments amd new money into the club but also keep FSS as having a huge say in the way the club is run  

 

5 this money could only be used by the Scot Govt to make socially useful loans  football clubs are at the heart of most communities and any money the club takes in will be spent in a way that helps local and other companies  

 

6. the community will benefit via the Falkirk Foundation over 300 kids and women and older people use the pitch 360 days a year and that is of huge benefit  

7. in the future other clubs can apply for similar funds  we were chosen because we are democratic, transparent, committed to diversity and forward thinking  Fss was heavily audited by the Scot govt and after due diligence passed with flying colours  

8. none of this would have happened without FSS’s members  this is testiment to the Falkirk supports generosity and enthusiasm to get our club back where it belongs  only by having an organisation  such as FSS could this loan have been agreed  we hope people will get behind FSS and we can continue to grow as the supporters voice  

 

 

 

 

 

 

 

 

 

 

 

 

 

The definition of a “no brainer”. 
 

Quick question - back of fag packet maths it would take £17.5k per year to pay back the 350k by year 20 - is this our intention I presume? Rather than 30k one year and 5k the next (as an example). 
 

As noted this leaves a good wedge of current FSS subs still going into club’s pockets each year so I will be continuing my FSS subscription. 

[Gringo]

Sounds a great deal.

20 years -£17500 repayment per annum.

Fantastic.

From a taxpayer point of view, not so good, but hey-ho.

[RC_Bairn]

Must admit to having a bit of trepidation when I read the Sun story last night but wanted to wait for the further detail before commenting.  Just seen the FSS statement and still worried.  Looks like we are making short-term financial promises based on future income (Remember Craig Whyte anyone?).  Hopefully the FSS outriders on this forum can put me at ease.

1.  Does this news now make the FSS an even harder sell to the ordinary punter?  Before you could claim that every penny went into the club.  Now the marketing line has to be 'Join FSS and help us pay back the Government'.  

2.  As an FSS member myself, bit worried this has not been done in consultation with members.  Seems like a bit of mission creep to me.  I joined the FSS on the basis that my money would be drip fed into the club and not to pay back a loan.  If I had known that FSS was suddenly going to be taking out loans I might have thought twice.

3.  Would be good to have a bit of clarity on what the loan is secured against?  20 years seems a long time and there's no guarantee that FSS will exist in that time.  So what happens if FSS defaults?  Also a worrying lack of clarity about who calls the shots at FSS.  Lots of different names mentioned on the committee but who is actually in charge?  A bit like the Club where no one seems willing to step up and take the responsibility.

[Rob1885]

36 minutes ago, Roboccop said:

The First Minister is at the club just now signing the agreement with FSS to consolidate the loan. Scott Steel signing on behalf of FSS. 

Disgusting.

[Tea and Busquets]

Am I being stupid or is this money not actually going to McGlynn’s budget but instead going to improve the facilities/infrastructure and youth teams? If so, can’t see how this would help us short term to get out this league.

[Shodwall cat]

1 minute ago, RC_Bairn said:

Must admit to having a bit of trepidation when I read the Sun story last night but wanted to wait for the further detail before commenting.  Just seen the FSS statement and still worried.  Looks like we are making short-term financial promises based on future income (Remember Craig Whyte anyone?).  Hopefully the FSS outriders on this forum can put me at ease.

1.  Does this news now make the FSS an even harder sell to the ordinary punter?  Before you could claim that every penny went into the club.  Now the marketing line has to be 'Join FSS and help us pay back the Government'.  

2.  As an FSS member myself, bit worried this has not been done in consultation with members.  Seems like a bit of mission creep to me.  I joined the FSS on the basis that my money would be drip fed into the club and not to pay back a loan.  If I had known that FSS was suddenly going to be taking out loans I might have thought twice.

3.  Would be good to have a bit of clarity on what the loan is secured against?  20 years seems a long time and there's no guarantee that FSS will exist in that time.  So what happens if FSS defaults?  Also a worrying lack of clarity about who calls the shots at FSS.  Lots of different names mentioned on the committee but who is actually in charge?  A bit like the Club where no one seems willing to step up and take the responsibility.

Can you not read above? 

[Jimmy1876]

So the club has a £200,000 grant to cover the new floodlights and pitch plus this £350,000 alongside 80% of the FSS money anyway (£80k per year)? With money from the government which was ring-fenced for social development projects and FSS was chosen as a vehicle for this? AND the club is not liable, and even if it needs to be repayed it will be only for the amount FSS have in the bank at the time? And this let's FSS become the majority shareholder of the club. Genuinely knocked this out of the park FSS. What an achievement!!!!

[Shodwall cat]

Just now, Tea and Busquets said:

Am I being stupid or is this money not actually going to McGlynn’s budget but instead going to improve the facilities/infrastructure and youth teams? If so, can’t see how this would help us short term to get out this league.

Will this not perhaps free up cash though that was having to be ear marked for the pitch and youth teams from the club?

[bairn88]

3 minutes ago, RC_Bairn said:

A bit like the Club where no one seems willing to step up and take the responsibility.

Not sure how this could be levelled at FSS. They’ve just secured this deal. You are a subscriber to FSS - you have the ability and power to run for any position on the committee. 

[Hughsie]

3 minutes ago, Rob1885 said:

Disgusting.

f**k up, Rob.

[Jimmy1876]

2 minutes ago, Tea and Busquets said:

Am I being stupid or is this money not actually going to McGlynn’s budget but instead going to improve the facilities/infrastructure and youth teams? If so, can’t see how this would help us short term to get out this league.

£200,000 for new pitch and floodlights already covered from grants which means only £100k or so left to cover which I had assumed would come from cup run money. If part of this FSS money is now going into covering the remaining cost of pitch and developments then cup run money and the left over FSS money all goes into football budget surely 

 

[Shodwall cat]

Honestly you can tell the previous board sycophants a mile off. 

[RC_Bairn]

4 minutes ago, Shodwall cat said:

Can you not read above? 

I was typing before it was posted.  And the above doesn't answer all of my questions.  

[RC_Bairn]

2 minutes ago, Shodwall cat said:

Honestly you can tell the previous board sycophants a mile off. 

Heaven forbid people are allowed to ask legitimate questions