Brazilian Posted September 4, 2012 Report Share Posted September 4, 2012 With the board having made it clear that our budget was cut due to the loss of two home games against Rangers, will funds now be made available following the League Cup draw which should make up for a season's shortfall (ignoring TV money). I can't remember the figure we were missing out on from the home games but, assuming their support turns out to make a point, we should be expecting £250k-£300k. I'm sure some of it will be squirrelled away but hopefully it will allow us to bring in one or two out of contract players. The board have already made funds available to bring in at least one player, dare say they are still available and hopefully things will happen the initial budget cuts were because of a loss last year of a few hundred thousand (lost figure just now) the Rangers debacle and the figures distributed showed how precarious our finances had got to again due to living hand to mouth I'd be happy to see a couple of players added to the squad, but based on only the revised budget from the summer not based on a cup game that hasnt happened yet Agreed. With this cup game, prob TV money to go with it, the Panathiniakos game, TV deal in place and the extra match v Levante, how can we be much worse off from last year??? Stop pissin about n get Faddy signed up!! two home games were already in the budget so cannot be added as extra income, albeit welcome Panathanaikos and Levante games didnt exactly bring in budget changing incomes , the cup game has the potential to deliver a boost albeit it seems previously we have budgeted for cup progression? Quote Link to comment Share on other sites More sharing options...
Haggischomper Posted September 4, 2012 Report Share Posted September 4, 2012 Think the loss was either $300000 or $500000. Was surprised at how big a loss it was. Quote Link to comment Share on other sites More sharing options...
weeyin Posted September 4, 2012 Report Share Posted September 4, 2012 Think the loss was either $300000 or $500000. Was surprised at how big a loss it was. 2 years ago they were predicting it was going to be around 500k, but I don't know what the final figures were. Quote Link to comment Share on other sites More sharing options...
nethertonwellfan Posted September 4, 2012 Report Share Posted September 4, 2012 I think the loss is a predicted loss for the next set of accounts to be published. The last ones announced we made a profit and that profit covers the predicted loss for this year. The budget cuts were to ensure we didn't make a loss again because we didn't have anyway of covering further losses. Anyway I could be confused but I think that covers it. I will try and dig out some articles to prove my theory or more likely disprove the theory. Anyway with Clancy rejecting his contract we actually cut more than needed. We also made a fair chunk from the European games so I suspect there is a bit of money out there. Having said all that we are trying to build a fund that allows us to cover any sudden drop in income, that includes society money but also a cut of any bonus prize money, I don't think anyone can argue with that. Quote Link to comment Share on other sites More sharing options...
nethertonwellfan Posted September 4, 2012 Report Share Posted September 4, 2012 The Story on the profit Quote Link to comment Share on other sites More sharing options...
Waldo Posted September 4, 2012 Report Share Posted September 4, 2012 The Story on the profit Just to clarify The profit was for 2010/11. The loss if for 2011/12. To avoid a loss 2012/13 we had to cut 1/4 million an we have done that. The Euro money was a wee bit extra so we can now sign another and still put a wee bit by for a rainy day which we need to do because we have zero overdraft facitlies? Quote Link to comment Share on other sites More sharing options...
nethertonwellfan Posted September 4, 2012 Report Share Posted September 4, 2012 Just to clarify The profit was for 2010/11. The loss if for 2011/12. To avoid a loss 2012/13 we had to cut 1/4 million an we have done that. The Euro money was a wee bit extra so we can now sign another and still put a wee bit by for a rainy day which we need to do because we have zero overdraft facitlies? That's what I was meaning, cheers . The loss for 2011/12 is still only predicted and won't be announced until early next year is that right? (I'm no saying there might not be a loss by the way just that we won't know the actual figure until then) Quote Link to comment Share on other sites More sharing options...
Brazilian Posted September 4, 2012 Report Share Posted September 4, 2012 Cheers Netherton that refreshes the mind a little the loss might only be predicted, but the events have already occurred and with the lack of transfers out and the rest thats went on it would be quite a misjudgment on the boards part if we report a significant profit ( we can hope) Just to clarify The profit was for 2010/11. The loss if for 2011/12. To avoid a loss 2012/13 we had to cut 1/4 million an we have done that. The Euro money was a wee bit extra so we can now sign another and still put a wee bit by for a rainy day which we need to do because we have zero overdraft facitlies? almost (remember the quoted article was pre Rangers liquidation) but after cutting the Budget by £200-300k, the Rangers Debacle occurred Leaving the already cutback budget with another chunk missing which with some facts the Well society members received and some speculation still leaves us down on that target going into the season even with two Euro games (and probably the reason money circled to go towards contracts for Craggs, Jennings etc disappeared at that time) now the board have mentioned that cup games make all the difference and can deliver better rewards than placing higher up the league IF we receive 35-40% of a good gate in the Ibrox cup game that goes someway towards easing the concern but as so often mentioned the requirement to finance the strategic reserve due to the lack of financial backing is/should be the priority Quote Link to comment Share on other sites More sharing options...
DunnyMFC Posted September 4, 2012 Report Share Posted September 4, 2012 How much money do we still owe John Boyle? Quote Link to comment Share on other sites More sharing options...
nethertonwellfan Posted September 4, 2012 Report Share Posted September 4, 2012 A six figure sum is all that's been reported. Quote Link to comment Share on other sites More sharing options...
wellfraeaberdeen Posted September 4, 2012 Report Share Posted September 4, 2012 Is it not a figure of £350K OR £360K. Quote Link to comment Share on other sites More sharing options...
welladad Posted September 4, 2012 Report Share Posted September 4, 2012 Is it not a figure of £350K OR £360K. £360,000 Quote Link to comment Share on other sites More sharing options...
DEWELL Posted September 4, 2012 Report Share Posted September 4, 2012 I agree with Weeyin maybe the boy Lawless is doing ok but really can anyone think of anybody else we let go whose proved us wrong? Young players get a chance with us but many simply aint good enough. <_> Quote Link to comment Share on other sites More sharing options...
Kmcalpin Posted September 4, 2012 Report Share Posted September 4, 2012 The loss for 2011/12 is still only predicted and won't be announced until early next year is that right? (I'm no saying there might not be a loss by the way just that we won't know the actual figure until then) Our financial year ended on 31 May. The annual accounts will be presented to the shareholders in the next month or two - possibly November? Presumably the Directors now know the exact figures. Quote Link to comment Share on other sites More sharing options...
grumpy Posted September 4, 2012 Report Share Posted September 4, 2012 If Lawless goes on to a better level than us or even very well at about our upper level SPL then fair play to him but it really will be about a first in about 25 years someone we've let go has went on to excel. Least that I can think of. I don't think he was let go because we couldn't afford him, think McCall would have felt he wasn't going to do the business. It isn't like younger players aren't getting a chance that is for sure. My understanding is that Lawless was going to get his chance when the window shut In January after Murphy signed for Blackpool, when that deal fell through it was too late for Lawless to go out on loan and he ended up kicking his heels for 6 months. When McCall realised that the whole SPL summer shambles meant that there was no guarantee he would be a regular this season, he allowed Lawless to leave to give him a chance to get first team football. A chance he has so far grasped with both hands. Whether he goes on toa great career then who knows, but good luck to the lad. Quote Link to comment Share on other sites More sharing options...
nethertonwellfan Posted September 5, 2012 Report Share Posted September 5, 2012 Our financial year ended on 31 May. The annual accounts will be presented to the shareholders in the next month or two - possibly November? Presumably the Directors now know the exact figures. Cool, just with the last ones being released in February I assumed (wrongly) that it would be the same again this year. Quote Link to comment Share on other sites More sharing options...
Kmcalpin Posted September 5, 2012 Report Share Posted September 5, 2012 Cool, just with the last ones being released in February I assumed (wrongly) that it would be the same again this year. You'd think so but they do vary for some reason. Quote Link to comment Share on other sites More sharing options...
rinkydink Posted September 5, 2012 Report Share Posted September 5, 2012 You'd think so but they do vary for some reason. Not usually as early as November though, from memory. Generally a bit closer to the Companies House filing deadline for the accounts (the February following the May year end). Quote Link to comment Share on other sites More sharing options...
Haggischomper Posted September 5, 2012 Report Share Posted September 5, 2012 Didn't have as much money to count this year.... Quote Link to comment Share on other sites More sharing options...
ONeils40yarder Posted September 5, 2012 Report Share Posted September 5, 2012 Is it time yet to start up the Faddy rumours again ? Quote Link to comment Share on other sites More sharing options...
Haggischomper Posted September 5, 2012 Report Share Posted September 5, 2012 Aye, go ahead. The longer he goes without a club, the less of a favour he is doing himself Quote Link to comment Share on other sites More sharing options...
WishyWell Posted September 5, 2012 Report Share Posted September 5, 2012 He'll sign. Believe! Quote Link to comment Share on other sites More sharing options...
Well 4 Europe Posted September 5, 2012 Report Share Posted September 5, 2012 I've heard Andy Dorman's name mentioned. Recently released and a number of SPL teams are looking at him. He must be close to 30 now right enough, then again his goals record from midfield for a shit St.Mirren team(aren't they all?) in the SPL was pretty dam good. Quote Link to comment Share on other sites More sharing options...
Londonwell Posted September 5, 2012 Report Share Posted September 5, 2012 Is Faddy not on trial with Celtic? Or is that bullshit then? Not sure why they'd want him after signing 2 forwards. Quote Link to comment Share on other sites More sharing options...
Andy_P Posted September 5, 2012 Report Share Posted September 5, 2012 I've heard Andy Dorman's name mentioned. Recently released and a number of SPL teams are looking at him. He must be close to 30 now right enough, then again his goals record from midfield for a shit St.Mirren team(aren't they all?) in the SPL was pretty dam good. I had a couple of St Mirren fans as colleagues around his time in Paisley. Curiously enough they generally cast admiring glances at our own Stephen Hughes when I cursed Dorman for another goal against us saying that Dorman was good an occasional spectacular goal but not a huge amount else in between. Quote Link to comment Share on other sites More sharing options...
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