Walking Down The Halbeath Road

[Stellaboz]

28 minutes ago, DA Baracus said:

Who are these 'sources' who are leaking supposed information about the club's accounts? If it's true they should be fired.

https://media3.giphy.com/media/3ohc0YFJXBcj99eDf2/giphy.gif?cid=6c09b952zxm61bmliwmu0nx0c119h2iz31wcb2682crug9hi&ep=v1_internal_gif_by_id&rid=giphy.gif&ct=g

[HoBNob]

47 minutes ago, DA Baracus said:

Fucking hell, I forgot about that guy.

So did I until I seen him at work, proper "Fucking hell, remember him!". 

[parsboi]

8 hours ago, North West said:

Sources for me are fellow fans putting this about. I removed my post as I don't feel it's helpful, but I'm genuinely wanting the figures published so we can all see for ourselves.

My concern is financial prudence returning a small profit each season pre Gmbh Fussball. Now it's potentially a club with a lot more debt, albeit covered by the Board. That's my issue/concern.

Thats incorrect.  The season when AJ got the bullet returned a loss of around £500k if I recall right.  The aim may have been to record a small profit each year pre gmbh however that one season wiped out a shed load of cash.   That was the sliding doors season after loss at Tannadice the season before in the playoffs.  The board handed AJ a long term deal when many felt he’d taken us as far as he could.   

[CallumPar]

3 hours ago, parsboi said:

Thats incorrect.  The season when AJ got the bullet returned a loss of around £500k if I recall right.  The aim may have been to record a small profit each year pre gmbh however that one season wiped out a shed load of cash.   That was the sliding doors season after loss at Tannadice the season before in the playoffs.  The board handed AJ a long term deal when many felt he’d taken us as far as he could.   

Was that not put down to medical costs of surgeries etc? Imagine the losses we must be making, due to medical bills alone, this year…

[AuldReekie]

17 minutes ago, CallumPar said:

Was that not put down to medical costs of surgeries etc? Imagine the losses we must be making, due to medical bills alone, this year…

I actually thought players or club had insurance to cover injuries. This year will surely be eye watering. 

[CallumPar]

22 minutes ago, AuldReekie said:

I actually thought players or club had insurance to cover injuries. This year will surely be eye watering. 

We may do now. But I’m sure at the time Ross McArthur said we had stopped insuring players because the cost massively outweighed the benefit most years. Obviously though, years like this are exactly why we should continue to pay for insurance. I don’t know how it all works, but I’m praying we have insurance now.

I could also be talking nonsense, but I’m sure I remember talk of medical bills for players like Joe Thomson being ridiculously high one year, resulting in us making a large financial loss.

[Rob1885]

Mccarthur welcomed these Germans in as felt we'd hit our ceiling. We'd only hit our ceiling because the board consistently fucked up on the footballing decisions whilst smaller clubs such as Livingston left us in the dust.

[North West]

4 hours ago, parsboi said:

Thats incorrect.  The season when AJ got the bullet returned a loss of around £500k if I recall right.  The aim may have been to record a small profit each year pre gmbh however that one season wiped out a shed load of cash.   That was the sliding doors season after loss at Tannadice the season before in the playoffs.  The board handed AJ a long term deal when many felt he’d taken us as far as he could.   

It's almost all correct as I had neglected to put that one season in like I have in other posts on the subject.

However my main point stands about finincial prudence being an aspiration and an inherent part of the previous Boards strategy.

The loss for last season and probably almost half that amount projected for this season is concerning, but I cannot substantiate it as it's rumours. 

Hence I'm keen to see the accounts released so we can read them for ourselves. They will lead to fans asking further questions and rightly so. 

[CallumPar]

If anyone’s interested, I’m happy to do a summary of my understanding of the accounts, once they’ve been released. Not professing to be an expert and the information we get is limited - the company disclose as little as they can within their accounts, which is completely normal and understandable.

I will be doing a deep dive into what’s in there for myself anyway. Happy to share my point of view/highlight any interesting movements on here, if it’s something people would be interested in? Won’t bore everyone if nobody cares about my summary though

By the way, last 2 years the accounts have been submitted Friday 17th Feb 2023 and Friday 18th Feb 2022. So it wouldn’t surprise me if they’re available end of next week/beginning of the week after.

[DA Baracus]

1 hour ago, Rob1885 said:

Mccarthur welcomed these Germans in as felt we'd hit our ceiling. We'd only hit our ceiling because the board consistently fucked up on the footballing decisions whilst smaller clubs such as Livingston left us in the dust.

Is it as easy as that? 

[North West]

1 hour ago, Rob1885 said:

Mccarthur welcomed these Germans in as felt we'd hit our ceiling. We'd only hit our ceiling because the board consistently fucked up on the footballing decisions whilst smaller clubs such as Livingston left us in the dust.

He worked hard to find additional investment and somebody to take over. He'd personally sacrificed enough, family wise and certainly financial wise. Him and others: those who lost money to Masterton then fought and took the club over and lost more money servicing the club. They didn't want the job, they did it to ensure the club survived as fans. They had never run a club before so how the f**k would they ever find things easy. A club on its knees with a tarnished reputation with no credit facility etc. Nah, they did a reasonably good job considering the circumstances. We owe them a lot as fans.

[Rob1885]

33 minutes ago, DA Baracus said:

Is it as easy as that? 

Do you disagree?

8 minutes ago, North West said:

He worked hard to find additional investment and somebody to take over. He'd personally sacrificed enough, family wise and certainly financial wise. Him and others: those who lost money to Masterton then fought and took the club over and lost more money servicing the club. They didn't want the job, they did it to ensure the club survived as fans. They had never run a club before so how the f**k would they ever find things easy. A club on its knees with a tarnished reputation with no credit facility etc. Nah, they did a reasonably good job considering the circumstances. We owe them a lot as fans.

Off the park yes we do owe them. On it, the continous bad decision making has hampered the football club. Undoubtably.

[The Toun Clock]

3 hours ago, CallumPar said:

Was that not put down to medical costs of surgeries etc? Imagine the losses we must be making, due to medical bills alone, this year…

 

3 hours ago, AuldReekie said:

I actually thought players or club had insurance to cover injuries. This year will surely be eye watering. 

 

2 hours ago, CallumPar said:

We may do now. But I’m sure at the time Ross McArthur said we had stopped insuring players because the cost massively outweighed the benefit most years. Obviously though, years like this are exactly why we should continue to pay for insurance. I don’t know how it all works, but I’m praying we have insurance now.

I could also be talking nonsense, but I’m sure I remember talk of medical bills for players like Joe Thomson being ridiculously high one year, resulting in us making a large financial loss.

The guy I spoke to who was at the Patrons night said there had been an annual medical budget put aside, I'm sure this is something done every year. Apparently 50% of the annual medical budget was used up in one single week. 

[Wacky]

I seriously think that our accounts won’t look very healthy, but believe it will be managed satisfactorily given time. We have to believe German guys will get it under control, if not then just lock the doors now. The silence from the Germans on this is deafening which makes me think, hope, pray that they have a grip on the situation. Add that to the silence from the guys at the meeting has me believing that things can and will get sorted out. 

[AuldReekie]

14 minutes ago, Wacky said:

I seriously think that our accounts won’t look very healthy, but believe it will be managed satisfactorily given time. We have to believe German guys will get it under control, if not then just lock the doors now. The silence from the Germans on this is deafening which makes me think, hope, pray that they have a grip on the situation. Add that to the silence from the guys at the meeting has me believing that things can and will get sorted out. 

I also believe we'll be posting a significant loss but it needs to come with a pretty convincing disclaimer from those running the club on how they are managing it. I absolutely want them to succeed, and for the most part, am very supportive of what's going on in and around the club. But as a group of fans, we should simply not place hollow trust that they will get it right and should be left to get on with it. That's how clubs go bust. Trust should be earned in transparency and a coherent plan.

[DA Baracus]

1 hour ago, Wacky said:

I seriously think that our accounts won’t look very healthy, but believe it will be managed satisfactorily given time. We have to believe German guys will get it under control, if not then just lock the doors now. The silence from the Germans on this is deafening which makes me think, hope, pray that they have a grip on the situation. Add that to the silence from the guys at the meeting has me believing that things can and will get sorted out. 

The club can't be putting out statements to respond to every rumour going about.

[Wacky]

35 minutes ago, AuldReekie said:

supportive of what's going on in and around the club. But as a group of fans, we should simply not place hollow trust that they will get it right and should be left to get on with it. That's how clubs go bust. Trust should be earned in transparency and a coherent plan.

I’m the same about the model the club are aiming for, and totally agree about hollow trust too. Right now only a small minority know what the truth is, and I’d like to think that if things are dire we’d know about it by now because surely someone would hit the panic button before this 

[Wacky]

8 minutes ago, DA Baracus said:

The club can't be putting out statements to respond to every rumour going about.

The way some are talking on here you’d think the Germans were about to do a midnight flit with a suitcase full of money. I’m not looking for any statement about rumours, I’m looking to see what the fuss is about with regards to this alleged financial crisis, and more importantly what’s happening to sort it out. 
I’m sounding like a stuck record here, but really believe that if the problem was out of control to the huge detriment to the club someone would have broke that news to the fans before this? 

Edited February 9 by Wacky

[Wacky]

3 hours ago, CallumPar said:

If anyone’s interested, I’m happy to do a summary of my understanding of the accounts, once they’ve been released. Not professing to be an expert and the information we get is limited - the company disclose as little as they can within their accounts, which is completely normal and understandable.

I will be doing a deep dive into what’s in there for myself anyway. Happy to share my point of view/highlight any interesting movements on here, if it’s something people would be interested in? Won’t bore everyone if nobody cares about my summary though

By the way, last 2 years the accounts have been submitted Friday 17th Feb 2023 and Friday 18th Feb 2022. So it wouldn’t surprise me if they’re available end of next week/beginning of the week after.

This would be great, please keep it idiot proof though, and also if you could type it slowly coz I don’t read very quickly please. 
 

[Well over Par]

Wacky, we get your point. You’ve made it numerous times. 
Essentially the club has lost and is losing lots of money. GmbH are pumping the money in to cover the losses however 

worry is why are we losing so much, when will be stop losing so much and how long will GmbH stick around if we continue to lose money year in year out?