Norgethistle Posted September 18, 2019 Report Share Posted September 18, 2019 52 minutes ago, Fawlty Towers said: Appears that there could be some financial issues for the Inverness Thistle: https://ictfc.com/club-statement-on-3rd-october-2019-egm Without wishing to drag up issues and arguments about the old board it seems odd that in our first season in the Championship we had a small profit whilst they had an £800k loss - what sort of decisions were they making? They never had the parachute payment or the same cut of the UEFA money being a league below (Championship) equates to around £600k plus they never sold a player like we did Quote Link to comment Share on other sites More sharing options...
Lenziejag Posted September 19, 2019 Report Share Posted September 19, 2019 Why didn’t they get a parachute payment when they got relegated ? Quote Link to comment Share on other sites More sharing options...
AlgarveJag Posted September 19, 2019 Report Share Posted September 19, 2019 What time is the AGM and are trust members allowed to attend or only shareholders and trustees? Quote Link to comment Share on other sites More sharing options...
lady-isobel-barnett Posted September 19, 2019 Report Share Posted September 19, 2019 (edited) If I was eligible to ask just the one question at the AGM that question would be along the lines of "Can the Board guarantee that within the next 12 months the Club will not enter into any binding contract with Glasgow Warriors RUFC ". edited to add this is a question I would've asked weeks ago and bears no connection to posts elsewhere on this site. Edited September 19, 2019 by lady-isobel-barnett 1 Quote Link to comment Share on other sites More sharing options...
Jordanhill Jag Posted September 19, 2019 Report Share Posted September 19, 2019 4 hours ago, AlgarveJag said: What time is the AGM and are trust members allowed to attend or only shareholders and trustees? Only Shareholders - the relevant Trust organisations send reps to represent there members 1 Quote Link to comment Share on other sites More sharing options...
Fawlty Towers Posted September 19, 2019 Report Share Posted September 19, 2019 The question I would ask would be: Is our budget for this season now set at break even given the Celtic cup tie and the cost associated with a change in management? Quote Link to comment Share on other sites More sharing options...
jaggy Posted September 19, 2019 Report Share Posted September 19, 2019 1 hour ago, lady-isobel-barnett said: If I was eligible to ask just the one question at the AGM that question would be along the lines of "Can the Board guarantee that within the next 12 months the Club will not enter into any binding contract with Glasgow Warriors RUFC ". edited to add this is a question I would've asked weeks ago and bears no connection to posts elsewhere on this site. Any reason that you think they might? Quote Link to comment Share on other sites More sharing options...
Norgethistle Posted September 19, 2019 Report Share Posted September 19, 2019 16 hours ago, Lenziejag said: Why didn’t they get a parachute payment when they got relegated ? They were given a parachute payment but a year before us. They came down a year before us Quote Link to comment Share on other sites More sharing options...
Ancipital Posted September 19, 2019 Report Share Posted September 19, 2019 You get a reduced parachute payment in the 2nd year. We got £500k last year and £250k this as we finished 11th and County who finished below us got £300k, they would have got a further £125k if they, er, hadn't actually gone straight back up by not f*cking everything up like we did. Assume Caley would be similar in parachute money to County so only £125k last year. Quote Link to comment Share on other sites More sharing options...
Lenziejag Posted September 20, 2019 Report Share Posted September 20, 2019 7 hours ago, Norgethistle said: They were given a parachute payment but a year before us. They came down a year before us The notice on the ICT accounts said they had made an £800K loss in the last 2 years, so they would have had a parachute payment in each of those years ? Quote Link to comment Share on other sites More sharing options...
Fawlty Towers Posted October 10, 2019 Report Share Posted October 10, 2019 The accounts for year ended 31st May 2019 are now on Companies House for those who are interested: https://beta.companieshouse.gov.uk/company/SC005417 Quote Link to comment Share on other sites More sharing options...
jagfox Posted October 10, 2019 Report Share Posted October 10, 2019 Quote Link to comment Share on other sites More sharing options...
Arete Posted October 10, 2019 Report Share Posted October 10, 2019 3 hours ago, jagfox said: I like the way this guy sets out our accounts. Indeed, it shows we've been mostly wise over the years in our approach to keeping in the black. I'd like to see that continue whoever owns PTFC in the future. But is impossible to judge current bidders on what been put in the public domain so far. In the meantime the current Board need to follow the pattern of recent years if they wish to make us attractive to prospective buyers - if that's their game plan. Quote Link to comment Share on other sites More sharing options...
Lenziejag Posted October 11, 2019 Report Share Posted October 11, 2019 It obviously doesn’t show the whole picture though. There is nothing in the results for player sales. Maybe that information isn’t publicly available. Quote Link to comment Share on other sites More sharing options...
javeajag Posted October 11, 2019 Author Report Share Posted October 11, 2019 (edited) 56 minutes ago, Lenziejag said: It obviously doesn’t show the whole picture though. There is nothing in the results for player sales. Maybe that information isn’t publicly available. It might not show all the detail but all the financial information is in there. It’s hard to square these numbers with the description of financial mismanagement by Beattie...... Edited October 11, 2019 by javeajag Quote Link to comment Share on other sites More sharing options...
Junior Posted October 11, 2019 Report Share Posted October 11, 2019 24 minutes ago, javeajag said: It might not show all the detail but all the financial information is in there. It’s hard to square these numbers with the description of financial mismanagement by Beattie...... The numbers show the fact that we ran at a small profit last year. The talk is that there was a deficit budget set for this year but it will only be confirmed or not in next years accounts. Player income for Fitzpatrick and Lindsay was after the end period so wont be shown until next year as well. Quote Link to comment Share on other sites More sharing options...
javeajag Posted October 11, 2019 Author Report Share Posted October 11, 2019 56 minutes ago, Junior said: The numbers show the fact that we ran at a small profit last year. The talk is that there was a deficit budget set for this year but it will only be confirmed or not in next years accounts. Player income for Fitzpatrick and Lindsay was after the end period so wont be shown until next year as well. Possibly .....but we have £650k in the bank at the end of May .....I think the point may be running at a deficit means reducing the £650k as opposed to spending all of that and more Quote Link to comment Share on other sites More sharing options...
Norgethistle Posted October 11, 2019 Report Share Posted October 11, 2019 34 minutes ago, javeajag said: Possibly .....but we have £650k in the bank at the end of May .....I think the point may be running at a deficit means reducing the £650k as opposed to spending all of that and more The statement at AGM was to use all of it plus take a loan, prior to the transfer monies appearing (of which Caldwell was promised a fair chunk) Quote Link to comment Share on other sites More sharing options...
javeajag Posted October 11, 2019 Author Report Share Posted October 11, 2019 21 minutes ago, Norgethistle said: The statement at AGM was to use all of it plus take a loan, prior to the transfer monies appearing (of which Caldwell was promised a fair chunk) Use it on what ? Quote Link to comment Share on other sites More sharing options...
Norgethistle Posted October 11, 2019 Report Share Posted October 11, 2019 28 minutes ago, javeajag said: Use it on what ? The operation budget (players etc) for the season Quote Link to comment Share on other sites More sharing options...
javeajag Posted October 11, 2019 Author Report Share Posted October 11, 2019 10 minutes ago, Norgethistle said: The operation budget (players etc) for the season Really ? Seems way too much ....if anything our player costs will be less than last season Quote Link to comment Share on other sites More sharing options...
Norgethistle Posted October 11, 2019 Report Share Posted October 11, 2019 3 minutes ago, javeajag said: Really ? Seems way too much ....if anything our player costs will be less than last season The initial plan was to have the same budget with less income (UEFA money, parachute money) hence the deficit mentioned in great detail at AGM Quote Link to comment Share on other sites More sharing options...
javeajag Posted October 11, 2019 Author Report Share Posted October 11, 2019 38 minutes ago, Norgethistle said: The initial plan was to have the same budget with less income (UEFA money, parachute money) hence the deficit mentioned in great detail at AGM Still with player transfer fees to add in That would imply income declining by more than £1m....which is way too high Quote Link to comment Share on other sites More sharing options...
Jordanhill Jag Posted October 11, 2019 Report Share Posted October 11, 2019 1 hour ago, javeajag said: Still with player transfer fees to add in That would imply income declining by more than £1m....which is way too high The Original Budget in May ( without the Players Transfer etc as that was unknown ) had a Budget deficit which would be funded via Cash Reserves and a £350K loan - this was stated by David Kelly Subsequently they used the Player Transfer Money to square the deficit and lots of people including you - were hammering the Current Board for not getting the extra four Players Quote Link to comment Share on other sites More sharing options...
Jordanhill Jag Posted October 11, 2019 Report Share Posted October 11, 2019 1 hour ago, javeajag said: Still with player transfer fees to add in That would imply income declining by more than £1m....which is way too high It was stated at the AGM between Parachute - EUFA & Cup Runs we recieved £1MN on non recurring revenue that Season Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.