Dave Allen Resigns

[spireite]

In the AGM, he's just announced he's resigning and stormed out of the room, triggering chaos amongst the rest of the board and those attending. The pressure was on him, but wow! I can't imagine he will just walk away from all his money though so it's doubtful we've seen the last of him...

 

[Deepcut Cobbler]

Good night, thank you, and may your God go with you...

 

[dolph]

Good night, thank you, and may your God go with you...

That`ll be lost on most the yoof on here Deepcut

 

[Westbars_Spireite]

Blaming other board members for not offering to match him by waiving interest on their loans.

 

[Sheffsteel]

Wednesday had loads of trouble with Dave Allen when he was their Chairman.

Allens the emotional spiteful type that would cut off his nose to spite his face.
I can just imagine him getting stick from the Chezzie fans with them saying he's wrecking their club.
So DA has just thought, I'm keeping this club afloat and I'm getting personal abuse
So you know what Chezzie fans I'll do what you want and leave
And if your club goes bust then at least you've got your wishes.

I think he's prepared to walk away, lose a fortune and leave CFC in critical condition.

 

[Camborne Gills]

That`ll be lost on most the yoof on here Deepcut

Yes, bloody philistines. First thing that came in to my head. I am an old git mind

 

[Deepcut Cobbler]

That`ll be lost on most the yoof on here Deepcut

 

[CFC91]

We COULD go to the dogs over this..

Allen has been propping up the club in recent months to covert running costs etc. No other directors have put extra money in. He has turned round and asked them to waive their payments of interest on the loans for a year until the club can sort itself out financially, they have refused so he has walked.

Amazing scenes at the AGM apparently, he walks in opens up with a speech and resigns. No directors or shareholders had a clue, all absolutely dumbfounded as he strolls out. Cue carnage and the 500 or so fans present going nuts, AGM suspended after 16 minutes. One director quoted on BBC Sheffield as saying "he doesn't know" if the club will now fold.

One thing for sure it that our debt stands at just over £8 million, most in loans to Dave Allen. We foretasted a further £1.5m loss this season without player sales (which we have relied upon so much in the past 2 years) so with Allen gone the money will run out within weeks apparently.

He also secured the ground from the Council in June so could well start charging us rent we can't afford, or turf us out. Nobody else on the board has a pot to **** in and we have a CEO in Chris Turner completely out of his depth overseeing a club that is losing money left right and centre, despite not having a massive playing budget, cracking conference facilities, record gates (until this season) and player sales to the tune of £4.5m in 20 months. This is without mentioning 2 Wembley trips, a league 1 play off run and various other concerts etc. If we didn't make money then we never will so seriously worrying times ahead now.

What Dave Allen's next move is will probably decide what happens to the future of the club. Shades of 2000 when we nearly went busy for other reasons, but this time the debt isn't one that we can be bailed out with by the fans and the council like we did back then.

Be worth keeping an eye out on twitter and various local journalists as apparently their is a meeting between Directors taking place today.

 

[Imp in Branston]

Someone posted this on one of our forums so I hope he doesn't mind me nicking it.

"It's OK. Go into administration when relegation is nailed-on. Pay 1p in the pound to creditors and then wash, rinse repeat. Did Rotherham and Bournemouth no harm."

We have always tried to play by the books and never really overstretched ourselves. Our financial problem came from the TV digital fiasco which has scuppered lots of clubs finances, not spending well beyond our means like so many other clubs. Their should be stiffer penalties for clubs that do not think of these consequences so for me I have little sympathy. Clubs that laud it over others by paying huge salaries and wages that are unsustainable deserve what they get IMO.

This isn't aimed solely at Chesterfield btw as I don't know your finances, but clubs that spend as they do wracking up huge debts should be punished, as it's not fair on the clubs that do not live beyond their means.

 

[valefan16]

Someone posted this on one of our forums so I hope he doesn't mind me nicking it.

"It's OK. Go into administration when relegation is nailed-on. Pay 1p in the pound to creditors and then wash, rinse repeat. Did Rotherham and Bournemouth no harm."

We have always tried to play by the books and never really overstretched ourselves. Our financial problem came from the TV digital fiasco which has scuppered lots of clubs finances, not spending well beyond our means like so many other clubs. Their should be stiffer penalties for clubs that do not think of these consequences so for me I have little sympathy. Clubs that laud it over others by paying huge salaries and wages that are unsustainable deserve what they get IMO.

This isn't aimed solely at Chesterfield btw as I don't know your finances, but clubs that spend as they do wracking up huge debts should be punished, as it's not fair on the clubs that do not live beyond their means.

Depends on circumstances surely? We went into administration in 2012 having barely spent anything and offering peanuts because of the actions of board members who didn't pay for the shares they had acquired (legal case ongoing to this day). Going into administration was forced upon them by fans that desperate we did the Starve em Out campaign and we rightly took a 10 point penalty. We finished 13 points off Crewe in the last play off spot but with more to play for and the added effect on the players not being payed etc we may have got that extra three points to have made it... we got punished for that but what else can you do to punish a team? You lose a year if you stay up... two at least if the ten points relegates you.

 

[Westbars_Spireite]

Admin wouldn't solve anything as we have no unsecured creditors such as players, the taxman or local businesses to shaft.

 

[THE LAST WALTZ]

Admin wouldn't solve anything as we have no unsecured creditors such as players, the taxman or local businesses to shaft.

If you forecast to lose £1.5m this season that's about £50k per week(based on a 30 week season) very roughly.
If you have no unsecured creditors, where is it all going?

 

[Westbars_Spireite]

If you forecast to lose £1.5m this season that's about £50k per week(based on a 30 week season) very roughly.
If you have no unsecured creditors, where is it all going?

No one seems to have the foggiest idea.

 

[CFC91]

Another post from our forun. Very worrying now.

"I am one of the fortunate few who can talk to the board members and ask questions. Most of the answers that I am given are to be kept private & confidential but this is where I break ranks and try to assist in helping our club.

As I see it, which the fans need to know.

The club is in a crisis which we already know.
DA has resigned and companies house confirms that he has dissolved his connections with the club.
The existing board of directors are working to try to find solutions but time is against them.
The club need to pay HMRC £50k
They need to find £200k for other out goings that will be due very soon.
The club have some cash in the bank but not enough to cover the above figures.
We are a few weeks away from administration unless the board can secure short term loans and a buyer.
We cannot rely on the bank for support. There is no overdraft in place and without DA's financial 'clout' who guaranteed any shortfalls, any suggestions of 'pre-sales' will not support or help the financial view of the bank.
Maybe the board can secure quick loans but the biggest problem would be the buyer. The buyer/s would need to have the immediate funds to pay off DA, he/they would also need to be able to show that he/they have sufficient funds to support a buyout. The club/board would need to run their own checks on any buyers that may come forward and also any buyers would need to do their own checks of CFC to make any possible offers.

We do not have time on our side.
We all need to stop venting our anger and concerns at certain individuals and put all of this to one side. Now is not the time to point the finger, blame individuals or keep harping on.

If there is anyone amongst the fans who knows anyone who has the amount of money to buy into the club, now is the time to start talking to your contacts.

It is serious, this time it is not a case of holding bucket collections.

What can we do? - We could show our support to CFC by buying tickets in advance for the Bristol game. This will only scratch the surface but it will just show the solidarity within the fan base of CFC when the going get's tough. If we can buy 5,000+ tickets between us for the game, attend or give to friends and family to attend, then we could raise nearly £100,000 which could help the cash flow.

I am a season ticket holder and sponsor and I will start off by buying 10 tickets for the Bristol game and give away to people who don't usually attend regularly. It's not much but it's a start.

We need to give the board some breathing space, drop the criticisms, stop asking why it has got to this and help find the solutions. I am convinced that the penny has dropped at CFC, I'm convinced that we will see changes and I'm convinced that we could pull through if certain individuals at the club pull the saving of our club off."

 

[valefan16]

Good luck Chesterfield, may be a tough road ahead but hopefully you can sort it without administration (and the deduction)

 

[AdamStag]

Doesn't sound too good for you guys currently.

Not on here to crow, trust me, before JR turned up when we were in the conference we were days away from going to the wall.

What i'd find concerning was how he managed to obtain the ground from the council (presumably in his name) why would the council allow that to happen? CFC won't be the only club to have fell foul of pursuing a fancy new stadium with all the bells on instead of the more "rustic" Saltergate when that may well have been still the better option.

You might well be stuck with us again next season - but am sure that's not going to be top of your priority list - you boys always fall on your feet - somehow

 

[FATTYFOULKE]

Hard to have much sympathy tbh. From an outsiders view he was the subject of nothing but abuse and fans wanting the "Sheffield Mafia" gone.

Now you've got your wish or at least part of it. Perhaps a bit of foresight on what would happen when your cash point actually walked might have been in order?

 

[spireite]

Hard to have much sympathy tbh. From an outsiders view he was the subject of nothing but abuse and fans wanting the "Sheffield Mafia" gone.

Now you've got your wish or at least part of it. Perhaps a bit of foresight on what would happen when your cash point actually walked might have been in order?

Issues weren't with Dave Allen exactly, more Chris Turner and the general screw up happening at the club. The club has been horrendously miss-managed the last few years. We've won leagues, had cup runs, sold over £3m worth of players, have successful banqueting side, yet still report losses all the time? Competition winners have been made up out of thin air. Noones known what the hells going on at the club at the top really, or where all our money is going. What would we be like if we hadn't been able to sell Clucas, Darikwa, Doyle, Morsy, Roberts, Cooper etc etc... terrible miss-management. I think Allens issue was with the other board members rather than the fans, he wanted them to stop seeking repayment on their loans and they told him to do one, is my understanding

 

[PuB]

I was thinking it was only over 12 months ago you were selling players for very good fees. Was that cash used to pay back some of the money from the new stadium build, or does no one have a clue?

 

[spireite]

I was thinking it was only over 12 months ago you were selling players for very good fees. Was that cash used to pay back some of the money from the new stadium build, or does no one have a clue?

Christ knows. I think we all assumed it went to the stadium debts as it didn't get re-invested in the club, but that doesn't seem to have been the case, as debts are rising, not going down.

 

[THE LAST WALTZ]

Couldn't you raffle the club?

 

[CFC91]

Couldn't you raffle the club?

Judging by how the last one went, i'd probably give that a swerve.

 

[T.A]

Few rumours that Sheffield United will move in on Ched in the next transfer window.

 

[Deepcut Cobbler]

Few rumours that Sheffield United will move in on Ched in the next transfer window.

What will Dame Jessica do?

 

[Westbars_Spireite]

Few rumours that Sheffield United will move in on Ched in the next transfer window.

They could all be gone if they find new clubs.

 

[PoshinPretoria]

Another post from our forun. Very worrying now.

"I am one of the fortunate few who can talk to the board members and ask questions. Most of the answers that I am given are to be kept private & confidential but this is where I break ranks and try to assist in helping our club.

As I see it, which the fans need to know.

The club is in a crisis which we already know.
DA has resigned and companies house confirms that he has dissolved his connections with the club.
The existing board of directors are working to try to find solutions but time is against them.
The club need to pay HMRC £50k
They need to find £200k for other out goings that will be due very soon.
The club have some cash in the bank but not enough to cover the above figures.
We are a few weeks away from administration unless the board can secure short term loans and a buyer.
We cannot rely on the bank for support. There is no overdraft in place and without DA's financial 'clout' who guaranteed any shortfalls, any suggestions of 'pre-sales' will not support or help the financial view of the bank.
Maybe the board can secure quick loans but the biggest problem would be the buyer. The buyer/s would need to have the immediate funds to pay off DA, he/they would also need to be able to show that he/they have sufficient funds to support a buyout. The club/board would need to run their own checks on any buyers that may come forward and also any buyers would need to do their own checks of CFC to make any possible offers.

We do not have time on our side.
We all need to stop venting our anger and concerns at certain individuals and put all of this to one side. Now is not the time to point the finger, blame individuals or keep harping on.

If there is anyone amongst the fans who knows anyone who has the amount of money to buy into the club, now is the time to start talking to your contacts.

It is serious, this time it is not a case of holding bucket collections.

What can we do? - We could show our support to CFC by buying tickets in advance for the Bristol game. This will only scratch the surface but it will just show the solidarity within the fan base of CFC when the going get's tough. If we can buy 5,000+ tickets between us for the game, attend or give to friends and family to attend, then we could raise nearly £100,000 which could help the cash flow.

I am a season ticket holder and sponsor and I will start off by buying 10 tickets for the Bristol game and give away to people who don't usually attend regularly. It's not much but it's a start.

We need to give the board some breathing space, drop the criticisms, stop asking why it has got to this and help find the solutions. I am convinced that the penny has dropped at CFC, I'm convinced that we will see changes and I'm convinced that we could pull through if certain individuals at the club pull the saving of our club off."

Good luck lads...Chesterfield is always a great town to visit with some cracking pubs that you can actually have a drink with the home fans without being chased out. Always a great day out there. I hope you get all this sorted as there but for the grace of god goes a lot of our teams in the lower leagues.

Good luck lads.

 

[spireite]

4 other directors leave...

 

[Luke Imp]

The money from all these transfers must be *somewhere*, though? I know it'll probably be in instalments but still...

 

[Westbars_Spireite]

The money from all these transfers must be *somewhere*, though? I know it'll probably be in instalments but still...

Not that it will solve anything but I'd love a forensic accounting review to be undertaken to explain what's happened.

 

[CFC91]

Can move this to league 2 now but this has just been posted on our message board.

Basically a group of fans have been investigating the goings on in recent months and made some horrendous discoveries, some highlighted in here and this has now happened..Freelander2 was a poster on the official message board btw

Moderators statement

Over the past two weeks, many of you have enquired either directly on the messageboard or via private message as to the whereabouts of the poster, Freelander2. To date we have remained silent on the subject but feel now is the right time to explain his absence.

On the morning of the 27th April 2017, an unknown individual who was working to instructions paid a visit to Freelander2’s place of work specifically to discuss his contributions on Bob’s Board. During that visit, Freelander2 was left in no doubt that if he did not agree to stop posting on the messageboard and to delete his account by close of business that day, the next visit would be to his home address and involve members of his family.

For those of you who are not aware, over the past fifteen months Freelander2 has been part of a group of supporters who have actively researched a number of subjects relating to Chesterfield Football Club in an attempt to understand the club’s demise. Given Freelander2’s valued contribution on this messageboard over the past eight years, we fail to understand why anyone with a common goal of wanting what is best for the club would want to silence him, especially in this way.

Freelander2 has confirmed his position to us privately and to ensure his and his family’s safety we have sadly agreed to his request to close his account. You will notice however that such closure doesn't mean his postings are removed.



So as not to jeopardise ongoing enquiries we do not intend to make any further comment.