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GENERAL MEETING 10 th APRIL 2013

GENERAL MEETING 10 th APRIL 2013. Agenda. WELCOME & INTRODUCTIONS UPDATE ON TRAINING GROUND DEAL LEGACY MEMBER VOTE UPDATE ON FOOTBALL CLUB UPDATE ON FOOTBALL TEAM UPDATE ON LEGACY MEMBERSHIPS 15 MINUTE BREAK Q & A.

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GENERAL MEETING 10 th APRIL 2013

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  1. GENERAL MEETING10th APRIL 2013

  2. Agenda WELCOME & INTRODUCTIONS UPDATE ON TRAINING GROUND DEAL LEGACY MEMBER VOTE UPDATE ON FOOTBALL CLUB UPDATE ON FOOTBALL TEAM UPDATE ON LEGACY MEMBERSHIPS 15 MINUTE BREAK Q & A

  3. TRAINING GROUND SALE & LEASEBACK TRAINING GROUND SALE & LEASEBACK NOW COMPLETE WHY DO WE NEED TO VOTE? NEW TRUST STRUCTURE AGREED AT AGM PREVENTED SALE OF TRAINING GROUND LEGACY MEMBERSHIPS NOT ESTABLISHED THEREFORE NO VOTE POSSIBLE LEGAL ADVICE SUGGESTS RETROSPECTIVE APPROVAL TO BE SOUGHT

  4. TRAINING GROUND SALE & LEASEBACK WHY WERE TWO Q&A DOCUMENTS ISSUED? TERMS OF DEAL CHANGED DURING NEGOTIATIONS NEW DETAILS HAD TO BE ISSUED IN ADVANCE OF THE MEETING

  5. TRAINING GROUND SALE & LEASEBACK DEAL CONFIRMED AS SALE FOR £350K ANNUAL RENT OF £30K 10 YEAR LEASE GRANTED TO WWFC BUYBACK OPTIONS AFTER 5 YEARS + BUYBACK PRICE COST +RPI PLUS £50K IN FIRST YEAR OF BUYBACK RISING TO £90K IN 10TH YEAR

  6. Q & A

  7. WWFC CHAIRMAN’S REPORT

  8. DON WOODWARD

  9. Football Numbers FIXED ASSETS £380,269 CURRENT ASSETS £567,647 CREDITORS (£1,292,014) ASSETS LESS LIABILITIES (£344,279) LOAN ACCOUNTS (£491,096) BEEKS, WOODWARD, FALL NET LIABILITIES (£835,375)

  10. Football Numbers The trading position has not changed since the AGM HMRC have been helpful – but payments are due on 17th April and 5th May to catch up We had hoped player sales in January would have boosted cashflow whilst we were awaiting the FALL Building loan to come in Creditors have been pushing – the club is behind and needs the cash boost Supporter Donations have been a great help

  11. Detail The Club will report an approx £ 650-700k loss in this season of transition Less income than planned (Gates down) Costs higher than expected Sponsor income lower than had been suggested to us Printer going bust / Beer supplier deal badly structured for WWFC – so we cancelled it

  12. So What’s Good We start next season pretty much in full control of our destiny – with most legacy deals timed out Our Manager in place – with broadly HIS TEAM Wasps will be kept up to date New Sponsors coming in on our OWN terms This club will have an approx £ 4m breakeven turnover , but football business is a results driven model – Don to Explain , it can be up or down a few hundred thousand depending on results

  13. What do we need Our biggest problem this year has been lack of working capital meaning we were fire-fighting all season This will (for now) be resolved by the Cross Group Loan from FAL Supporter activities will continue to help – Oxford walks, Donations to the Trust , John Derben’s team of all stars saving valuable expense , Matchday selling. Over time the transfer away from Soft loans from Directors and benefactors to a new structure of CAPITAL for the Club in which many Supporters partake/contribute. This may take several years to achieve. Football Clubs need a working capital buffer

  14. Do we go further ? We can further save money if Supporters want to engage deeper by volunteering for SECURITY CAR PARKS BAR STAFF GUEST LIASION But I need to know the appetite , and if we do this then we need to Man Wasps matchdays – I can’t turn support staff on and off !!

  15. AMBITION WWFC HAVE THE SQUAD & MANAGER to compete to win the League or gain promotion next season to League One - we very nearly did this year! Beyond that Football finds its level as income rises on sponsorship, League income and increasing gates from both home and away supporters There is no need to cap ambition on the level that the Wanderers can play at – we have a great stadium that if we were in the Championship could be full every week and generate the income required

  16. DAVID ROBERTON

  17. Season 2012/13    consistently inconsistent       challenge for 2013/14   to be consistently good.

  18. Initial Playing Budget for 2013/14 has been discussed with GazSome uncertainty about final figure due to Solidarity paymentWill be significant reduction over 2012/2013

  19. Discussions with Gaz on make up of Squad for next season Involves current players who will be out of contract Doubtful if we will be able to retain all players we would like to keepPotential replacements have been identified

  20. The Squad will reflect our need to break even in 2013/14Will be good enough to improve on 2012/13

  21. LEGACY MEMBERSHIPS 3 SEASON PLUS, SEASON TICKET HOLDERS IDENTIFIED TRUST MEMBERS CONTACTED AND INFORMED OF STATUS (? MEMBERS) NON TRUST MEMBERS NEED TO JOIN TRUST TO QUALIFY AMNESTY FOR ALL SEASON TICKET HOLDERS FROM 19TH APRIL UNTIL MIDNIGHT 17TH MAY AMNESTY APPLICANTS WILL NEED TO APPLY APPLICATION FORM AVAILABLE FROM SECRETARY@WYCOMBEWANDERERSTRUST.COM

  22. LEGACY MEMBERSHIPS HARD RIGHTS (LEGACY MEMBERS) SALE OF ADAMS PARK SALE OF MAJORITY STAKE IN WWFC DISPOSAL OF MEMOROBILIA

  23. LEGACY MEMBERSHIPS SOFT RIGHTS (ALL TRUST MEMBERS) NAMING RIGHTS TO ADAMS PARK CHANGE FROM QUARTERS AS HOME STRIP POLICY OF CHANGING STRIP LESS THAN 2 YEARS (SUBJECT TO FORCE MAJEURE)

  24. Q & A

  25. LEGENDS GAMEMAY 4TH 3.00 P.M. WWFC V SOUTH BUCKS SELECT 11

  26. GENERAL MEETING10th APRIL 2013

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