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Supporters Meeting

Finance crisis

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#21 Alias

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Posted 17 May 2013 - 08:04 PM

Yeah . There were about 50/60 turn out ( so raiders bar would have been big enough ). Thx to lisdoonie non the less
Full details of meeting will be in evening mail some productive ideas and some interesting information. . I left thinking we have a good board of directors and in David sharpe a great chairman . Truly has the club in his heart as we all do. Cheers.

Edited by Alias, 17 May 2013 - 08:10 PM.


#22 Raider94

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Posted 17 May 2013 - 08:10 PM

Heard we have been given an extra season to sort out the floodlights, great news

Tom Heighton


#23 lifer

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Posted 17 May 2013 - 08:40 PM


Heard we have been given an extra season to sort out the floodlights, great news

is this official? If so fantaastic news.

#24 Alias

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Posted 17 May 2013 - 08:46 PM

Yeah we have until 2014 :)

#25 RSN

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Posted 17 May 2013 - 09:03 PM

Was it the RFL who made this decision?

#26 Alias

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Posted 17 May 2013 - 10:06 PM

Yeah .. They did . After a meeting with David Sharpe and Keith Holt :)

#27 bearman

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Posted 17 May 2013 - 10:38 PM

Yeah we have until 2014 :)

Fantastic. I have bought some raffle tickets and I wouldn't mind the draw being postponed, but I suspect legally that's not allowed.
Can I be cheeky and ask the people that have donated the Florida villa rental to do it again next year?
That would go a long way to raising the 100K
Ron Banks
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#28 alba

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Posted 18 May 2013 - 07:52 AM

A good response from RFL, and Furness building society, important meeting with bank to come, but looks far more positve, well done BOD. 



#29 morty

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Posted 18 May 2013 - 11:47 AM

the floodlights news is great news...well done to all concerned (the BOD & the RFL) in reaching this decision.

Lee Morton

 

Raiders have risen from the ashes


#30 soss

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Posted 19 May 2013 - 09:06 PM

So can I ask how we are moving forward other than the RFL "letting us off" a year?

Did the true position of the club come out?

How much is required to cover the club and how is it to be repaid?

If it is a cash flow problem people maybe able to help in the short term with guarantees in place for repayment but they need to be involved in the financial position of the club on a day to day business, including the loans taken out.

Nothing on the website and nothing on here. What’s going on with our financial crisis???????????


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#31 livo

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Posted 19 May 2013 - 10:47 PM

So can I ask how we are moving forward other than the RFL "letting us off" a year?

 

Did the true position of the club come out?

 

How much is required to cover the club and how is it to be repaid?

 

If it is a cash flow problem people maybe able to help in the short term with guarantees in place for repayment but they need to be involved in the financial position of the club on a day to day business, including the loans taken out.

 

Nothing on the website and nothing on here. What’s going on with our financial crisis???????????

From what I can gather Mike, a Statement will be coming out soon.  But the meeting went ok. I might be wrong but a remorgage was mentioned. Over a longer period of time which is understandable. We are being crippled with interest at he moment but you will know that.

And 'letting us off for a year' is great news  Don't you think??? 


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#32 soss

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Posted 20 May 2013 - 01:27 AM

It is great news just would have thought there would be more about the meeting..Thanks Gary I will look out for the statement


The fox running with the hounds

When you are in deep trouble, say nothing, and try to look as though you know what you're doing

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#33 D11

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Posted 21 May 2013 - 06:44 AM

Having now read the report in the evening mail could someone who atended the meeting comment on the following:

The news that the RFL has allowed the club till December 2014 to put the required floodlights in place is great news as the required funding will obviously fall short this season.

The morgage arrears were paid off before I left in May 2012, and the £87k refered to is not the morgage but the inherited overdraft from barclays, is this a miss print by the NWEM ?

Re negotiating the overdraft is a good idea now there is a track record for the club but IMO this will save money over the remaining period of the overdraft and not an imidiate cash raiser.

"£100k imediatly would end all debt payment problems" IMO this will depend on how the £100k comes into the club as if it is a loan then it will be required to be paid back.

Following the meeting is the Financial Crisis over or another meeting on the subject to be held or has a short term soloution been found ?

Edited by D11, 21 May 2013 - 06:46 AM.

"we all make mistakes that's why they put rubbers on pencils"


#34 soss

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Posted 21 May 2013 - 03:51 PM

I have been resisting posting on here in case I was accused of sour grapes or stirring the peverbial, however can we have an update as to our position and a way forward from the BoD as im getting really concerned now that the cash flow issue is going to hit us with no financial plan in place. I would have hoped that a solution would have been presented by now as I have not seen or heard anything of substance regards the meeting.


The fox running with the hounds

When you are in deep trouble, say nothing, and try to look as though you know what you're doing

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#35 Alias

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Posted 21 May 2013 - 04:56 PM

It's all here

http://t.co/jiA0CaIbic

#36 soss

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Posted 21 May 2013 - 05:33 PM

Thanks alias but i have read that and it tells you very little.

How much is required? I don’t understand why it is an unknown... if its cash flow then surely it can only be 30k to 40k to cover the month we don’t have games and collect the gate/bar/food monies?

If you used the floodlight fund that would only leave a short fall of around 15k.

 

When I was on the BoD we knew exactly the cash flow for the whole year at the push of a computer key.


The fox running with the hounds

When you are in deep trouble, say nothing, and try to look as though you know what you're doing

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#37 D11

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Posted 21 May 2013 - 05:46 PM

Cash flow projection ran to 2015 and was automatically updated as numbers were crunched.

 

This was also required to work out the clubs salary cap


Edited by D11, 21 May 2013 - 05:47 PM.

"we all make mistakes that's why they put rubbers on pencils"


#38 Paul Ballantyne

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Posted 21 May 2013 - 06:42 PM

Thanks alias but i have read that and it tells you very little.

How much is required? I don’t understand why it is an unknown... if its cash flow then surely it can only be 30k to 40k to cover the month we don’t have games and collect the gate/bar/food monies?

If you used the floodlight fund that would only leave a short fall of around 15k.

When I was on the BoD we knew exactly the cash flow for the whole year at the push of a computer key.



#39 Paul Ballantyne

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Posted 21 May 2013 - 06:46 PM

Mike, in the report it does say that the BOD are waiting to speak to barclays and because they haven't they can not tell us an exact figure.

#40 Paul Ballantyne

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Posted 21 May 2013 - 06:48 PM

Sorry... on going with barclays.




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