KirkieRR Posted June 5 Share Posted June 5 What with the batteries and the concerts and the park and ride, the businessmen on the board seem pretty rubbish at, you know, business. 1 Quote Link to comment Share on other sites More sharing options...
EdinburghBlue Posted June 5 Share Posted June 5 1 hour ago, welshbairn said: The ground is just outside the Freeport zone, and the council would have to agree to any change to the lease. Excerpt from last year’s accounts saying that the ground was within the Freeport zone and hinting at plans to realise the financial benefits of this. 0 Quote Link to comment Share on other sites More sharing options...
EdinburghBlue Posted June 5 Share Posted June 5 Something funny going on with another company associated with the club which seems to have gone from effectively dormant to massively in debt over 12 months 0 Quote Link to comment Share on other sites More sharing options...
welshbairn Posted June 5 Share Posted June 5 2 minutes ago, EdinburghBlue said: Excerpt from last year’s accounts saying that the ground was within the Freeport zone and hinting at plans to realise the financial benefits of this. Did Scot Gardiner write that? 3 Quote Link to comment Share on other sites More sharing options...
Savage Henry Posted June 5 Share Posted June 5 (edited) 40 minutes ago, Raith Against The Machine said: That, surely, is the angle for the next couple of days then? Are the existing directors willing to be bought out by some new mystery entity, for some agreed pence in the pound figure? The alternative being that they see the club go into administration, with the points deductions and everything that goes with it, to end up with a reduced figure anyway? I suppose this is where it comes down to questions of what the club owns and what it's worth. Does the club own the ground the land is on? Does it have some sort of astronomical book value because of the freeport? Would the extinction of the football operation actually free up enough assets for administrators to pay off debts more or less in full? The current statement reads like an attempt at emotional blackmail of, I presume, Alan Savage. But it also reads like it’s been written by someone with absolutely no concept of public relations. Which could be anyone. On a completely separate note, I see the excellent ICTFC Community Trust have drafted their own statement, which reads as if it did not pass though HQ’s editors. Good on them. Edited June 5 by Savage Henry 0 Quote Link to comment Share on other sites More sharing options...
EdinburghBlue Posted June 5 Share Posted June 5 (edited) 1 hour ago, welshbairn said: Did Scot Gardiner write that? Accounts signed off by Ross Morrison, who now has a charge over the company's assets Edited June 5 by EdinburghBlue 0 Quote Link to comment Share on other sites More sharing options...
Balmoor Boy Posted June 5 Share Posted June 5 As an outsider looking in, how did the club manage to accumulate so much debt without any action being taken. Basic accountancy - what goes out, must come in to balance the books. I really hope a solution or investor can be found to save your club going into administration. 0 Quote Link to comment Share on other sites More sharing options...
RiG Posted June 5 Share Posted June 5 33 minutes ago, EdinburghBlue said: Excerpt from last year’s accounts saying that the ground was within the Freeport zone and hinting at plans to realise the financial benefits of this. IIRC (and I probably don't) the freeport thing was one of Gardiners schemes to save money or make money but it was later poo pooed by someone, possibly even Gardiner himself, when the club realised that they wouldn't stand to benefit from the freeport zone at all. 1 Quote Link to comment Share on other sites More sharing options...
Sergeant Wilson Posted June 5 Share Posted June 5 5 minutes ago, Balmoor Boy said: As an outsider looking in, how did the club manage to accumulate so much debt without any action being taken. Basic accountancy - what goes out, must come in to balance the books. Remember it's football your talking about 0 Quote Link to comment Share on other sites More sharing options...
Jacky1990 Posted June 5 Share Posted June 5 (edited) 41 minutes ago, KirkieRR said: What with the batteries and the concerts and the park and ride, the businessmen on the board seem pretty rubbish at, you know, business. We had Jacqui Low, apparently a PR expert, in charge not that long ago. With her in charge, we went from one PR disaster to another until she was eventually ousted. These type of power hungry cretins seem to have a unique ability to fail upwards to the point being expect them to be competent. Edited June 5 by Jacky1990 0 Quote Link to comment Share on other sites More sharing options...
Sergeant Wilson Posted June 5 Share Posted June 5 1 minute ago, RiG said: IIRC (and I probably don't) the freeport thing was one of Gardiners schemes to save money or make money but it was later poo pooed by someone, possibly even Gardiner himself, when the club realised that they wouldn't stand to benefit from the freeport zone at all. 3 Quote Link to comment Share on other sites More sharing options...
RiG Posted June 5 Share Posted June 5 2 minutes ago, Sergeant Wilson said: I did have Stephen Fry in my mind as I typed that 0 Quote Link to comment Share on other sites More sharing options...
Steve Carrella Posted June 5 Share Posted June 5 30 minutes ago, Balmoor Boy said: As an outsider looking in, how did the club manage to accumulate so much debt without any action being taken. Basic accountancy - what goes out, must come in to balance the books. I really hope a solution or investor can be found to save your club going into administration. Hang around and wait until it all unravels and you will get the answer. A staggering example of incompetence, hubris and football ignorance aided by people who were asleep at the wheel. 0 Quote Link to comment Share on other sites More sharing options...
craigkillie Posted June 5 Share Posted June 5 1 hour ago, Peil said: Ballantyne (sp) bought Clydebank and moved them and applied to change the name - they weren't a new club Sorry, I was more meaning that the previous Airdrie completely disappeared. 1 Quote Link to comment Share on other sites More sharing options...
Matty-RCFC Posted June 5 Share Posted June 5 1 hour ago, EdinburghBlue said: Something funny going on with another company associated with the club which seems to have gone from effectively dormant to massively in debt over 12 months Balance sheets and Profit and Loss accounts are two completely different financial measurement pieces. 3 Quote Link to comment Share on other sites More sharing options...
yoda Posted June 5 Share Posted June 5 (edited) This feels like it has been the inevitable conclusion for the past three or four years. Although I still don't expect the worst case scenario to materialise. Edited June 5 by yoda 0 Quote Link to comment Share on other sites More sharing options...
Otis Blue Posted June 5 Share Posted June 5 21 minutes ago, Steve Carrella said: ..... A staggering example of incompetence, hubris and football ignorance ... ^^^ never knew Neil Doncaster was involved ... 1 Quote Link to comment Share on other sites More sharing options...
velo army Posted June 5 Share Posted June 5 You could go part time and field only the ground staff and their pals and we still wouldn't fucking beat you. I hope you turn it around. Just don't ask to groundshare with us. Our pitch can't handle more than 10 games a season. 0 Quote Link to comment Share on other sites More sharing options...
Aufc Posted June 5 Share Posted June 5 1 hour ago, Balmoor Boy said: As an outsider looking in, how did the club manage to accumulate so much debt without any action being taken. Basic accountancy - what goes out, must come in to balance the books. I really hope a solution or investor can be found to save your club going into administration. But that’s not how a lot of companies work. It is normal for companies to take on debt to allow them to grow. It’s all about managing that level of debt and ensuring you have sufficient levels of income to cover the cost of the debt. Inverness issue is that they are not overly well supported so once you start to lose games then it becomes very difficult to cover the debt 2 Quote Link to comment Share on other sites More sharing options...
VictorOnopko Posted June 5 Share Posted June 5 2 hours ago, virginton said: A bizarre sequence of whataboutery and non-sequiturs, that. Looks like you too have some further progress to make in adjusting to the new normal for the failing Highland franchise. Just as well Morton's sweetie prince kindly wrote off your seven figure debt from years of unsustainable failure, eh? Means you can really get some good gravedancing going here. I haven't seen any ICT fans on this thread* who are unaware of the new normal - but I'd say it's a fair point that Morton's millions - the soft loans from the sweetie money - bought you the square root of f4ck all in terms of success on the field. *apart from the fantasist earlier in the week offering square gos and 100k before jetting off to NY earlier in the week... 0 Quote Link to comment Share on other sites More sharing options...
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