Kapowzer Posted March 5, 2022 Share Posted March 5, 2022 (edited) At our recent AGM it was shared that Motherwell were one of 4 SPFL clubs who either fortunately, astutely or ultra-risk adversely had Business Interruption Insurance in place prior to the league shutting down early in 2020. It was explained it covered all standard incomes. Essentially the tail end of 2019/20 and the whole of 2020/21 was a break even year despite no punter revenues which make up so much more of club income in this country than many others. It was announced at the start of this season that due to fans being locked out last year Motherwell were going to offer a free renewal for 2021/22. It was combined with an initiative that if anyone wanted to contribute any funds regardless of this, they would be matched by the club and made available to those in the community who faced particular hardships/unemployment/etc. due to the pandemic. The club raised approx. £65k (matched to £130k) which equated to around 370 full adult season tickets (and at least the same again in kids) if all were taken up. It turned out to be a bit of a PR coup and garnered a lot of extra coverage outwith the standard football sphere. The highlight being Michael Gove getting involved on Twitter and being roasted. It would have probably been a tough circle to square to not make any gesture to the fans given that this bit of prophetic acumen would be reported in our annual filed accounts. Made even tougher as a supporter owned club. Therefore, can any supporters from any of the 11 other clubs shed any light if they are among the other 3 who took this out? If so, did your club offer anything back (monetary/gestures/etc) to the support off the back of it? If not, why not/what was their justification/rationale or has it even been put to them? Edited March 5, 2022 by Kapowzer 0 Quote Link to comment Share on other sites More sharing options...
Kyle Reese Posted March 5, 2022 Share Posted March 5, 2022 Hibs were one, I think. Not massively bothered myself, since we are through it now. Why does it actually bother you who did or did not have it though? 0 Quote Link to comment Share on other sites More sharing options...
Kapowzer Posted March 5, 2022 Author Share Posted March 5, 2022 (edited) 50 minutes ago, Kyle Reese said: Hibs were one, I think. Not massively bothered myself, since we are through it now. Why does it actually bother you who did or did not have it though? It doesn't bother me, was that how you interpreted the post? I thought it worthy of a debate on a medium designed for it. Up for the contributors to determine the morals and ethics if it seems a bit shitty or fair game to get paid out for all costs and lost revenues for 46/47 games though a policy but also take punters money on top. The latter makes it a bumper season. Edited March 5, 2022 by Kapowzer 0 Quote Link to comment Share on other sites More sharing options...
Kyle Reese Posted March 5, 2022 Share Posted March 5, 2022 5 hours ago, Kapowzer said: It doesn't bother me, was that how you interpreted the post? I thought it worthy of a debate on a medium designed for it. Up for the contributors to determine the morals and ethics if it seems a bit shitty or fair game to get paid out for all costs and lost revenues for 46/47 games though a policy but also take punters money on top. The latter makes it a bumper season. Think I was a bit bevvied last night tbh. Ignore me. 0 Quote Link to comment Share on other sites More sharing options...
SweeperDee Posted March 5, 2022 Share Posted March 5, 2022 Dundee had it. f**k knows what we did with it. 0 Quote Link to comment Share on other sites More sharing options...
RandomGuy. Posted March 5, 2022 Share Posted March 5, 2022 6 minutes ago, SweeperDee said: Dundee had it. f**k knows what we did with it. *glances at Leigh Griffiths* 8 Quote Link to comment Share on other sites More sharing options...
SweeperDee Posted March 5, 2022 Share Posted March 5, 2022 *glances at Leigh Griffiths*Exactly. 0 Quote Link to comment Share on other sites More sharing options...
DukDukGoose Posted March 5, 2022 Share Posted March 5, 2022 8 hours ago, Kapowzer said: At our recent AGM it was shared that Motherwell were one of 4 SPFL clubs who either fortunately, astutely or ultra-risk adversely had Business Interruption Insurance in place prior to the league shutting down early in 2020. It was explained it covered all standard incomes. Essentially the tail end of 2019/20 and the whole of 2020/21 was a break even year despite no punter revenues which make up so much more of club income in this country than many others. It was announced at the start of this season that due to fans being locked out last year Motherwell were going to offer a free renewal for 2021/22. It was combined with an initiative that if anyone wanted to contribute any funds regardless of this, they would be matched by the club and made available to those in the community who faced particular hardships/unemployment/etc. due to the pandemic. The club raised approx. £65k (matched to £130k) which equated to around 370 full adult season tickets (and at least the same again in kids) if all were taken up. It turned out to be a bit of a PR coup and garnered a lot of extra coverage outwith the standard football sphere. The highlight being Michael Gove getting involved on Twitter and being roasted. It would have probably been a tough circle to square to not make any gesture to the fans given that this bit of prophetic acumen would be reported in our annual filed accounts. Made even tougher as a supporter owned club. Therefore, can any supporters from any of the 11 other clubs shed any light if they are among the other 3 who took this out? If so, did your club offer anything back (monetary/gestures/etc) to the support off the back of it? If not, why not/what was their justification/rationale or has it even been put to them? We had it but the insurers were refusing to pay out. 0 Quote Link to comment Share on other sites More sharing options...
Zing. Posted March 5, 2022 Share Posted March 5, 2022 We had it thanks to Roderick Petrie and it paid out about £2m I think. We’ve done nearly f**k all with it in terms of gestures to the fans aside from what everyone else did in offering refunds etc. Todays football for a fiver might come into it but I don’t really know. 0 Quote Link to comment Share on other sites More sharing options...
Kapowzer Posted March 5, 2022 Author Share Posted March 5, 2022 So Motherwell, Dundee, Aberdeen and Hibs then. 0 Quote Link to comment Share on other sites More sharing options...
Pull My Strings Posted March 5, 2022 Share Posted March 5, 2022 And United. I suspect that someone's got their wires crossed. 9 hours ago, Kapowzer said: It doesn't bother me, was that how you interpreted the post? I thought it worthy of a debate on a medium designed for it. Up for the contributors to determine the morals and ethics if it seems a bit shitty or fair game to get paid out for all costs and lost revenues for 46/47 games though a policy but also take punters money on top. The latter makes it a bumper season. That's not generally how insurance works, incidentally. You'll be able to claim for actual losses against certain events but not to the extent that you're better off than you would have been if the insured risk hadn't occurred. 1 Quote Link to comment Share on other sites More sharing options...
coprolite Posted March 5, 2022 Share Posted March 5, 2022 2 hours ago, Merkland Red said: We had it but the insurers were refusing to pay out. From annual report: Subsequent Events: Following the year end the Company came to an agreement with its insurers on a Business Interruption Insurance claim under a policy held to protect the Company from losses suffered as a result of a variety of different diseases including coronavirus (COVID19). The sum of £2.25 million was received on 30 July 2021, and while the Directors considered the receipt of this amount to be probable at 30 June 2021, it was not considered to be virtually certain, and therefore the income will be reflected in the Financial Statements for the year ending 30 June 2022. 1 Quote Link to comment Share on other sites More sharing options...
Kapowzer Posted March 5, 2022 Author Share Posted March 5, 2022 3 minutes ago, Pull My Strings said: And United. I suspect that someone's got their wires crossed. That's not generally how insurance works, incidentally. You'll be able to claim for actual losses against certain events but not to the extent that you're better off than you would have been if the insured risk hadn't occurred. Correct, most clubs seen their fans renew their season tickets with only a minor change from 2019/20 so that income was hardly affected to any clubs. To have an insurance policy pay out the same again on top and you'd assume a conservative figure for lost away fans (which is easy to demonstrate) results in a doubling of revenues from ticketing for 2020/21 and a wee bit extra on the 8/9 games missed from 2019/20. 0 Quote Link to comment Share on other sites More sharing options...
Girth Posted March 5, 2022 Share Posted March 5, 2022 1 hour ago, Kapowzer said: So Motherwell, Dundee, Aberdeen and Hibs then. #TB4 #TGG 3 Quote Link to comment Share on other sites More sharing options...
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