Kidderminster AGM

Railway Blue

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It is staggering that you guys have lost so much money, what with the Cup run and player sales in the last few years.
I postulate that something a bit more dodgy has gone on behind the scenes.

All sounds a bit like us, when we sold Manset for £400k, and were still in the creek financially.

Whatever happens, I am fairly sure that all in the HUFC Supporters Trust will help you guys out as much as possible.
Football is full of dishonesty. That Oyston fella at Blackpool has helped himself to their parachute money.
 

Harrier94

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Southern Shayman

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Andy Harrier

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One of our former Director's has released a statement giving quite a lot of detail of what's happened over the past few years. It seems (allegedly) we can afford a budget of £300-350k, but we had budgeted for £600-650k, with a verbal agreement that the shortfall would be met by our principle benefactor. Frankly, this seems reckless to me. Full statement here: http://thetoolhireshop.com/news/29

However, it seems we may be on the road to recovery and are budgeting more realistically next year. Perhaps it should be noted that our catastrophic season has happened after overbudgeting by ~£300k and the benefactors not keeping up the payments. A warning for the clubs not spending within their means of what could happen, as I imagine that some of those are overspending by a little more than that.
 

Aber gas

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One of our former Director's has released a statement giving quite a lot of detail of what's happened over the past few years. It seems (allegedly) we can afford a budget of £300-350k, but we had budgeted for £600-650k, with a verbal agreement that the shortfall would be met by our principle benefactor. Frankly, this seems reckless to me. Full statement here: http://thetoolhireshop.com/news/29

However, it seems we may be on the road to recovery and are budgeting more realistically next year. Perhaps it should be noted that our catastrophic season has happened after overbudgeting by ~£300k and the benefactors not keeping up the payments. A warning for the clubs not spending within their means of what could happen, as I imagine that some of those are overspending by a little more than that.
I'm a little bit concerned that our spending is beyond our means and that we will see a scaling back should we fail to go up . Can't see the directors underwriting the same budget next season .
 

Harrier94

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We've hired two new directors

http://www.harriers.co.uk/news/arti...s-to-join-the-board-of-directors-2430213.aspx

Colin Gordon an ex player and football agent - he's now our Football Development director

And Mike Morris - he's now in charge of ground maintenance

Gordon I'm wary of because of this quote "he knows a lot of people in the football fraternity and his contacts will be invaluable." The last person we hired with lots of contacts was Andy Thorn and he brought in O'Keefe and Ladapo so that quote doesn't fill me with confidence.
 

Andy Harrier

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Oops, beat me to it!

The club have released a lengthy statement detailing some of the goings on at the club and the position the club is now in. I'll summarise below.
  • For the first time in 15 years, the club look set to at least break even financially.
  • We have overcome what was, twelve months ago, a financial 'black hole' in excess of £300k.
  • In order to finance the pay offs of a number of playing and coaching staff and in order to finance the club's contributions of poorly-arranged loan deals, around £150,000 has been paid.
  • Last seasons playing budget was in excess of £600k. This was reduced to £260k for this season. This included almost £100k which fell to just two players (allegedly Reece Styche and Craig Reid). The season before (the season after we finished second), the budget was over £800k.
  • Since Colin Gordon's takeover in November all employees have been paid on time and in full, the club has zero debt to HMRC via tax or NI and the current playing budget is under £230k.
  • The club still aims to survive this season, but is financially secure and is prepared for relegation.
So it seems on the face of it that our biggest difficulties may now be behind us and now we can move on. Relegation seems inevitable now, but in a way I'm glad that the club has managed to save itself. Gordon has said in the past that he didn't want to let this club cease to exist and reform. He wanted the club to pay it's creditors and honour it's contracts and it's debts and it seems we're well on the way to achieving this. Hopefully we can push for promotion back to this level again next year and move on from there.
 

Harrier94

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Seems like real positive news especially if that article is suggesting we'll keep Keith Lowe next season, he's far too good for the North. Hopefully we'll be back to the Conference soon :2thumb:
 

Luke Imp

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Any ideas who the 2 players were on nearly £1k/week? Seem to recall Styche's name mentioned?

Good news that there seems to be a bit of light at the end of the tunnel, though (well, off the pitch anyway).
 

Harrier94

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Any ideas who the 2 players were on nearly £1k/week? Seem to recall Styche's name mentioned?

Good news that there seems to be a bit of light at the end of the tunnel, though (well, off the pitch anyway).

Styche and Craig Reid definitely then I think Dawson (now left), Hodgkiss and maybe whatever we're paying for Langmead's loan are our next high earner's.
 

Luke Imp

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Craig Reid?! No wonder he seems happy playing on non-contract terms everywhere this season!
 

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Craig Reid is the ultimate mercenary c***. Must have a brilliant agent, will sign a lucrative deal, then do absolute fuck all to justify it. The thing I can't believe is clubs keep falling for it.
 

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Craig Reid is the ultimate mercenary c***. Must have a brilliant agent, will sign a lucrative deal, then do absolute fuck all to justify it. The thing I can't believe is clubs keep falling for it.

A bit like Matthew Barnes-Homer.
 

slaphead

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A bit like Matthew Barnes-Homer.

Not at all, MBH was very cheap, but he is a really nice lad. Just got a bit homesick, that's all. Off the States next year I think, new start for him and his family.
 

KHFC_Shaun

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I'm happy with where the club is heading off the field. I think we are in very safe hands with Gordon - I know it could be deemed as stupidity with our recent history with being foiled over by previous regimes who have seemed to have conned us. I for one will hold my hand up and thought that the club was operating at a level which wasn't as severe as it appeared to be - Serrell left us in a right mess!
We are paying for our mismanagement with relegation and a complete rebuild without the dependence of the Lanes. Some of the contracts we have dished out is laughable - 10k agent fee for Ladapo?!


We are about to try and grasp a model similar to Wallsall's where a large percentage of their income is generated commercially, to relieve the pressure of the importance of season ticket sales and revenue generated through the gates. It may take years to get back to the level of the Burr days - which our fans need to forget but the general positivity I have grasped through supporters who happen to be employees at the club suggest enough to me that the good times will roll, we're just going to have to be patient.

The jury is out for Gordon's next appointment though - needs to get it right in our first season into the unknown, and with his one and only appointment being Sir Dave Hockaday himself, my eyes will be peeled.
 

Harrier94

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In an interview with BBC Hereford and Worcester Gordon has said back in November or December we were bust until he bailed us out but from the end of the season our finances will be the most secure they have been for years.
 

Southern Shayman

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In an interview with BBC Hereford and Worcester Gordon has said back in November or December we were bust until he bailed us out but from the end of the season our finances will be the most secure they have been for years.

Nice to see he's stayed humble and modest throughout...
 

Jemfy

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In an interview with BBC Hereford and Worcester Gordon has said back in November or December we were bust until he bailed us out but from the end of the season our finances will be the most secure they have been for years.

There is something eerily familiar about this statement. Who owns aggborough and what is it's status in terms of rent, ownership structures etc?

I don't imagine that something is going on like Cousins with us, but he used to make sure people knew we'd have gone bust without him. In the end the difference was a few years and that he got the stadium rather than it reverting to the Griggs Group...
 

Harrier94

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There is something eerily familiar about this statement. Who owns aggborough and what is it's status in terms of rent, ownership structures etc?

I don't imagine that something is going on like Cousins with us, but he used to make sure people knew we'd have gone bust without him. In the end the difference was a few years and that he got the stadium rather than it reverting to the Griggs Group...

Aggborough is owned by the council I think but I remember there being an agreement in the rent that if we went bust we'd have 1 year to form a new club.

I don't think it will be the same situation as both Gordon and Brown have run successful business (Gordon's football agency business and Brown ran a publishing business) plus they have both worked in football for years so they know how it works and we can't fault them for the failings of the past boards. Time will tell ultimately but I think we're heading in the right direction (off the pitch anyway :lol:;)).
 

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