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> Bad News, Club's finances
Billy W
post Jan 31 2013, 07:32 AM
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Terrible news in today's Chronicle. I'm sure someone can post the article but the gist is,
We expect to announce a loss of £75k later this year
Most of he club's financial reserves will be gone by the end of the season
NY has had his playing budget reassessed
A financial controller has been appointed
CFU membership fee will have to be increased
This has been announced by Tony Durkin which begs the question what has Chris Pillsbury and the board been doing the last two years.
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Derry Exile
post Jan 31 2013, 07:47 AM
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QUOTE (Billy W @ Jan 31 2013, 07:32 AM) *
Terrible news in today's Chronicle. I'm sure someone can post the article but the gist is,
We expect to announce a loss of £75k later this year
Most of he club's financial reserves will be gone by the end of the season
NY has had his playing budget reassessed
A financial controller has been appointed
CFU membership fee will have to be increased
This has been announced by Tony Durkin which begs the question what has Chris Pillsbury and the board been doing the last two years.


Absolutely bloody ridiculous! How the hell can we have by far and away the biggest home gates for the last 3 years and make a loss the last 2?

Pilsbury has a lot to answer for, buck stops with our now former chairman and questions need to be asked why we didn't budget correctly again!!


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Che Guevara
post Jan 31 2013, 08:08 AM
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QUOTE (Derry Exile @ Jan 31 2013, 07:47 AM) *
QUOTE (Billy W @ Jan 31 2013, 07:32 AM) *
Terrible news in today's Chronicle. I'm sure someone can post the article but the gist is,
We expect to announce a loss of £75k later this year
Most of he club's financial reserves will be gone by the end of the season
NY has had his playing budget reassessed
A financial controller has been appointed
CFU membership fee will have to be increased
This has been announced by Tony Durkin which begs the question what has Chris Pillsbury and the board been doing the last two years.


Absolutely bloody ridiculous! How the hell can we have by far and away the biggest home gates for the last 3 years and make a loss the last 2?

Pilsbury has a lot to answer for, buck stops with our now former chairman and questions need to be asked why we didn't budget correctly again!!


Abolute joke if true, the club is rapidly turning into a laughing stock.

Talk of league football a few years ago ? Looks like we cant afford BSN !

Just wait till other clubs hear this...

This post has been edited by Che Guevara: Jan 31 2013, 08:09 AM


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Billy W
post Jan 31 2013, 08:11 AM
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QUOTE (Che Guevara @ Jan 31 2013, 08:08 AM) *
QUOTE (Derry Exile @ Jan 31 2013, 07:47 AM) *
QUOTE (Billy W @ Jan 31 2013, 07:32 AM) *
Terrible news in today's Chronicle. I'm sure someone can post the article but the gist is,
We expect to announce a loss of £75k later this year
Most of he club's financial reserves will be gone by the end of the season
NY has had his playing budget reassessed
A financial controller has been appointed
CFU membership fee will have to be increased
This has been announced by Tony Durkin which begs the question what has Chris Pillsbury and the board been doing the last two years.


Absolutely bloody ridiculous! How the hell can we have by far and away the biggest home gates for the last 3 years and make a loss the last 2?

Pilsbury has a lot to answer for, buck stops with our now former chairman and questions need to be asked why we didn't budget correctly again!!


Abolute joke if true, the club is rapidly turning into a laughing stock.

Talk of league football a few years ago ? Looks like we cant afford BSN !

Just wait till other clubs hear this...

Correct.
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Hugh Jass
post Jan 31 2013, 08:25 AM
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Perhaps Oxford blue and the rest of the Pilsbury cronies would like to respond to this? Absolute joke. People actually said the likes of Mused and myself should apologise to the man. He should do the decent thing now and stand down from the board Completely
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Che Guevara
post Jan 31 2013, 08:27 AM
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QUOTE (Hugh Jass @ Jan 31 2013, 08:25 AM) *
Perhaps Oxford blue and the rest of the Pilsbury cronies would like to respond to this? Absolute joke. People actually said the likes of Mused and myself should apologise to the man. He should do the decent thing now and stand down from the board Completely


Agreed, and remembering what period the accounts refer to, a fair few of the current board / staff should go in shame as well.

Mind you they will just co-opt thier budies back in.

One of the worst days in the clubs history, if I was a potential new sponser or invester id run a mile now.

Awful.

This post has been edited by Che Guevara: Jan 31 2013, 08:33 AM


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Blueblister
post Jan 31 2013, 08:34 AM
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We signed too many players at the beginning of the season and our gates have been slightly down. That has been obvious for.a while. But £65000 is not much in football terms and money well spent to storm this division. However, next season is the challenge, it was always going to be be anyway.
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mused
post Jan 31 2013, 08:37 AM
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Bad times, I really didn't see the loss being this bad. What's been going on?


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Marty Funkhouser
post Jan 31 2013, 08:38 AM
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I was at the CFU meeting last night and people were visibly shocked when this was announced. Fair play to Tony Durkin for not beating around the bush and being open and honest with members. Whilst nothing explicit was said, it seems to me that too many poor decisions were made by the previous Board that has impacted on the finances. I reckon (although I may be wrong) that the Puma shirt deal was badly handled, leaving too small a margin in the merchandising; also things like stock control, financial planning, spending profiles etc, wasn't great, which reflects badly on the Pilsbury stewardship.
However I did leave the meeting feeling very positive about things. Durkin clearly has is eye on the ball, has great business experience and is a real die-hard Chester fan. He spoke very well and with a great deal of honesty. It's going to take a lot of hard work from EVERYONE associated with the Club to drive us forward, so it's time for us all to get involved. Finally, plans are in progress for a mass-sponsored walk, an idea that could raise five figure sums for Chester. All that's required is for fans to give up half a day of their time to do the walk, together with a bit of pestering and arm twisting of friends, family, neighbours and work colleagues. I'd be seriously disappointed if we had less than 200 fans doing the walk, so let's do our bit for the Club.


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iandyChesterCity
post Jan 31 2013, 08:45 AM
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We appointed a business head as CEO to guide us on full time wages. 2 consecutive losses, I'm amazed Mr Cluskey seems exempt from criticism when to my mind, he's top if the list along with current members of the board who were re-elected.


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Che Guevara
post Jan 31 2013, 08:48 AM
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QUOTE (iandyChesterCity @ Jan 31 2013, 08:45 AM) *
We appointed a business head as CEO to guide us on full time wages. 2 consecutive losses, I'm amazed Mr Cluskey seems exempt from criticism when to my mind, he's top if the list along with current members of the board who were re-elected.



Agreed, first to go - he useless ( IMO ) and we cant afford his wages. Simples.


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Che Guevara
post Jan 31 2013, 08:56 AM
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QUOTE (Che Guevara @ Jan 31 2013, 08:48 AM) *
QUOTE (iandyChesterCity @ Jan 31 2013, 08:45 AM) *
We appointed a business head as CEO to guide us on full time wages. 2 consecutive losses, I'm amazed Mr Cluskey seems exempt from criticism when to my mind, he's top if the list along with current members of the board who were re-elected.



Agreed, first to go - he useless ( IMO ) and we cant afford his wages. Simples.



And lets be honest, a number of players / staff are going to have to go to.

I think the worst possible thing we could do is get promoted, cutting back on a BSN squad, and promoting the remaining players to BSP ?? suicide.

Why is NY full time, can we afford that ? the accounts speak for themselves, what happened to living within our means ?


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Saltney Blueboy
post Jan 31 2013, 09:06 AM
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I attended the meeting last night and, for some strange reason not too surprised, was disappointed with the expected loss announced by Tony.

I'm convinced that the introduction of the Working Party is now of paramount importance and I certainly hope it will contain an independent group of individual talents that can assist the Board with direction and support and introduce targets which will enable total control over all activities.

I find it difficult to point a finger of blame at any individual as voluntary actions deserve praise - and support in their roles. I'm hoping that this support may come from the introduction of the new Chairman in Tony Durkin and swift, positive assistance and guidance from the Working Party.

I, too, felt a sense of positivity on leaving the meeting as Mr Durkin spoke with honesty in what was a difficult announcement and it would have been easier by not actually announcing expected losses figures but chose to do so in order to continue the ethos of complete transaparency. This is to be admired.

Until now, I've not been able to directly assist the football club but I do feel that I need to make more of an effort in the coming months by offering my services other than just paying over my hard-earned at the turnstile - once I get over my clients' clamour for assistance with their self assessments!!

I'm glad that I didn't comment last night as I wanted to have a good think before putting pen to paper - and I'm glad I did!

Good luck to Tony and CFC - the cause is definitely not a lost one



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Che Guevara
post Jan 31 2013, 09:14 AM
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QUOTE (Saltney Blueboy @ Jan 31 2013, 09:06 AM) *
I attended the meeting last night and, for some strange reason not too surprised, was disappointed with the expected loss announced by Tony.

I'm convinced that the introduction of the Working Party is now of paramount importance and I certainly hope it will contain an independent group of individual talents that can assist the Board with direction and support and introduce targets which will enable total control over all activities.

I find it difficult to point a finger of blame at any individual as voluntary actions deserve praise - and support in their roles . I'm hoping that this support may come from the introduction of the new Chairman in Tony Durkin and swift, positive assistance and guidance from the Working Party.

I, too, felt a sense of positivity on leaving the meeting as Mr Durkin spoke with honesty in what was a difficult announcement and it would have been easier by not actually announcing expected losses figures but chose to do so in order to continue the ethos of complete transaparency. This is to be admired.

Until now, I've not been able to directly assist the football club but I do feel that I need to make more of an effort in the coming months by offering my services other than just paying over my hard-earned at the turnstile - once I get over my clients' clamour for assistance with their self assessments!!

I'm glad that I didn't comment last night as I wanted to have a good think before putting pen to paper - and I'm glad I did!

Good luck to Tony and CFC - the cause is definitely not a lost one


I respect your opinion, but thats the type of attitude thats got us in this awful mess.

This post has been edited by Che Guevara: Jan 31 2013, 09:15 AM


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I O CITY CITY I ...
post Jan 31 2013, 09:23 AM
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Absolute farce, sweet and simple.

I was shocked that we set the bar so high in terms of the attendances/budget to get out of these leagues, so to then make a loss baffles me.

Financial irregularities behind the bar? £75k worth of losses must mean a heck of a lot of irregularities, and if it's down to certain people, do they not realise they're not Vaughan and not protected? rolleyes.gif

Our Club? Yeah, right.


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Marty Funkhouser
post Jan 31 2013, 09:25 AM
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QUOTE (Glass of Red Harry? @ Jan 31 2013, 09:05 AM) *
Part of the loss stems from financial irregularities behind the bar which are still being investigated by the new board. None of the current staff are being blamed.

On another matter the club are currently trying to recruit a new bar manager...


I hardly imagine 'irregularities' behind the bar would account for much of the loss. Rather it seems that too many bad decisions have been made by people with little or no business acumen. Hopefully with a new Chair and Vice-Chair, both of whom have business experience, things will turn around pretty quick. Tony Durkin stated that everything is being looked at, so I hope that includes non-playing staff on the payroll.


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Che Guevara
post Jan 31 2013, 09:27 AM
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QUOTE (I O CITY CITY I O @ Jan 31 2013, 09:23 AM) *
Absolute farce, sweet and simple.

I was shocked that we set the bar so high in terms of the attendances/budget to get out of these leagues, so to then make a loss baffles me.

Financial irregularities behind the bar? £75k worth of losses must mean a heck of a lot of irregularities, and if it's down to certain people, do they not realise they're not Vaughan and not protected? rolleyes.gif

Our Club? Yeah, right.



Thats the way i feel to.

One club, living within our means - look like the fans we conned as they always are at Chester. Sad thing is I bet the club dont give a s**t if the likes of me and others feel let down.

Im in work and surrounded by Wrexham fans laughing at us charging more than the rest, on bigger gates that the rest and losing money as well. Only at Chester.

This post has been edited by Che Guevara: Jan 31 2013, 09:29 AM


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Barney Daniels B...
post Jan 31 2013, 09:28 AM
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I would like to know what we actually got for the £30000 that was spent on the legends lounge . And we certainly didnt need Denson or , arguably Williams as we already had a decent left winger . To the current boards credit they have promised to have a thorough investigation of the accounts and to put us back on track .
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Bambi_CCFC
post Jan 31 2013, 09:31 AM
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Thing is, you dont just make that kind of loss overnight. It seems like we should have tightened our belts 12 months ago, at least.

If we cant live within our means when we're part time and several times bigger than rival clubs, what hope is there for the BSP?

It's just not good enough, in my opinion.


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tophat
post Jan 31 2013, 09:31 AM
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QUOTE (Che Guevara @ Jan 31 2013, 08:08 AM) *
QUOTE (Derry Exile @ Jan 31 2013, 07:47 AM) *
QUOTE (Billy W @ Jan 31 2013, 07:32 AM) *
Terrible news in today's Chronicle. I'm sure someone can post the article but the gist is,
We expect to announce a loss of £75k later this year
Most of he club's financial reserves will be gone by the end of the season
NY has had his playing budget reassessed
A financial controller has been appointed
CFU membership fee will have to be increased
This has been announced by Tony Durkin which begs the question what has Chris Pillsbury and the board been doing the last two years.


Absolutely bloody ridiculous! How the hell can we have by far and away the biggest home gates for the last 3 years and make a loss the last 2?

Pilsbury has a lot to answer for, buck stops with our now former chairman and questions need to be asked why we didn't budget correctly again!!


Abolute joke if true, the club is rapidly turning into a laughing stock.

Talk of league football a few years ago ? Looks like we cant afford BSN !

Just wait till other clubs hear this...

Che. Would one of those clubs be about 10 miles away who were getting laughed at on this forum and also another certain Yorkshire club people in glass houses and all that. Some fans do think we are gods gift to the league
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Che Guevara
post Jan 31 2013, 09:33 AM
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QUOTE (tophat @ Jan 31 2013, 09:31 AM) *
QUOTE (Che Guevara @ Jan 31 2013, 08:08 AM) *
QUOTE (Derry Exile @ Jan 31 2013, 07:47 AM) *
QUOTE (Billy W @ Jan 31 2013, 07:32 AM) *
Terrible news in today's Chronicle. I'm sure someone can post the article but the gist is,
We expect to announce a loss of £75k later this year
Most of he club's financial reserves will be gone by the end of the season
NY has had his playing budget reassessed
A financial controller has been appointed
CFU membership fee will have to be increased
This has been announced by Tony Durkin which begs the question what has Chris Pillsbury and the board been doing the last two years.


Absolutely bloody ridiculous! How the hell can we have by far and away the biggest home gates for the last 3 years and make a loss the last 2?

Pilsbury has a lot to answer for, buck stops with our now former chairman and questions need to be asked why we didn't budget correctly again!!


Abolute joke if true, the club is rapidly turning into a laughing stock.

Talk of league football a few years ago ? Looks like we cant afford BSN !

Just wait till other clubs hear this...

Che. Would one of those clubs be about 10 miles away who were getting laughed at on this forum and also another certain Yorkshire club people in glass houses and all that. Some fans do think we are gods gift to the league


I think its fair to say, even if we do win the leahue people wwill say , rightly or not, we bough it by living beyond our means, and its hard to see how we have not.


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I O CITY CITY I ...
post Jan 31 2013, 09:34 AM
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QUOTE (Bambi_CCFC @ Jan 31 2013, 09:31 AM) *
Thing is, you dont just make that kind of loss overnight. It seems like we should have tightened our belts 12 months ago, at least.

If we cant live within our means when we're part time and several times bigger than rival clubs, what hope is there for the BSP?

It's just not good enough, in my opinion.



I've been saying that quite a lot with regards to break even on our attendances?

Someone has to take the blame for this, people have obviously seen this was on the agenda months ago, at least, and kept going. Call themselves Chester fans?


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boggle1983
post Jan 31 2013, 09:37 AM
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Really disappointed by this news, makes me wonder what some people actually do at the club?
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NewBlue
post Jan 31 2013, 09:44 AM
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Clearly these projections are not good. Let's see what this might equate to in terms of
how much you might need to increase attendances by to bridge a £65K gap.

Let's do a naive back of the envelope estimate. How much extra would you get from
an extra 300 fans per match, let's say an average of £10 at the gate per fan, £3K
per home game, 21 home games and let is a potential extra £63K. By the way,
this seasons average gate is 2421, compared to last seasons 2789......
We haven't been helped by more mid-week games than last year and curiosuly
I suspect, less away fans than last year as well.

There is probably more to the loss than just "bums on seats" but if we can't get
people through the door this season, goodness knows what will happen next
year if we lose a few games.
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High on a happy ...
post Jan 31 2013, 09:46 AM
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I have faith that Tony knows what he is doing.

Hate to go back to catering but I always used to get a cheese and onion pasty and a hot chocolate at half time (x 2 people). This year I have tried a burger and a hot dog and gave up as they were dreadful and no hot chocolate? But things like the catering are surely a big revenue stream if managed correctly and every penny matters. People just want the basics at a reasonable quality and price. If something so fundamental to the matchday experience has been got so wrong, then I'm not overly surprised that things aren't as rosy as they should be behind the scenes.

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