FORUMS > Leigh Leopards > Too many questions unanswered |
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| Quote: DemonUK "If a club has been left debt free as reported, how is that financial mismanagement?'"
My only concern on that statement is the 'Directors Loans' showing in the company accounts, if these are wrote off we are debt free, if they are pulled in we go bump - ie it looks like AT covered the shortfalls/paid the bills via directors loans, which seems to be standard practice in sport btw.
The immediate concern was replacing AT's monthly loan, without that we have/had a short term problem and I believe that is where the gap between income and outgoings was stated to be £100k this season.
Long term we need to fill the gap via income and cost controls, that means increasing gates, renegotiating with LSV on both cost and retained income, external income from investment/donations.
I hope we can put solutions in place this week.
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| Personally I don't see anything wrong with posters asking questions on here
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| Fans do not have the data to answer many being asked, they should be directed via email/phone to the club. At present the club are choosing not to communicate, which is not helping the situation imho.
Lets hope for some news, good news, soon.
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| Yes your right but they shouldn't get shot down for doing so we never know it could be someone who wants to help out but with some of the answers on they are getting they won't bother although probably are just interested in whats happening
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| I would imagine if they put 'I am thinking of joining Lisa but could someone tell me if Starbug wears Dicks hats?' it would get a better response than a 'new' poster asking questions nobody has factual answers to.
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| Does AT want his money back? In an email i received back from someone at the LSV it said he wasn't asking for it back. As for the other directors we don't know.
I do remember one director offering his for a penny as log as the buyer agrees to invest x into the club
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| I don't mind people asking questions - its, as someone else has said, people coming out of the woodwork at times like this. Now for all I know the OP could have been/is a salt of the earth Leigh fan who is a long standing member of LISA, season ticket holder and lottery member who has been lurking avidly on this board for the last 18 months. What we DO know is that there is a shortfall, and there is no risk of any individual on this board accidentally covering that shortfall by not knowing the full financial picture - in other words the current uncertainty should not stop you putting your hand in your pocket NOW.
What I don't understand is what people would do with all this information when they get it? Its hardly a case of "oh, now I have all my questions ticked off, here's 100 grand" - if that was the financial capability of the person posting, I would echo Lynda's suggestion that they contact the club directly. Otherwise, commit to what you can now and stay tuned for further information to come as it is available and the directors/CEO see fit.
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| Quote: maurice "I would imagine if they put 'I am thinking of joining Lisa but could someone tell me if Starbug wears Dicks hats?' it would get a better response than a 'new' poster asking questions nobody has factual answers to.'"
Well they should be either ignored or answered without the sarcasm ,there is no need for it ,I know people are very concerned at the moment and posters should probably think first before they ask a question that they know is impossible to get an answer to on here
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| I believe AT doesn't want his loans back, he is a very honourable man imo. One of the ongoing issues with the club structure is that the burden has never been equal - hence we had AT putting virtually all the money in as others put in little or nothing yet remained 'directors'. Someone taking over Starbugs offer would have put x in that the others were not oblidged to match.
The club must go in one of two ways refn funding 1. Find another AT 2. Share the burden equally as part of the articles. I strongly believe in 2 with a fans shareholding forming part of burden sharing promoting a community club.
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| There's a bog difference between being debt free and being well run financially. Hull KR accounts will show that. Big losses but all covered by directors so don't owe money out.
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| I agree with a few on here this is a fans forum to pretty much asking anything leyth, the answer to ring Leigh centurions could be applied to just about any question on here?
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| Yes I know what your saying but some "new" or rarely on here members have arose asking questions that unless there is a director or the club accountant on here, very unlikely to find a answer.
If someone wants to know these things the most senisble thing would be to ring the club.
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| I really dont understand what some posters are trying to achieve by asking questions usually with some sinister insinuation attached , all that does is spread rumour , and damage the club , if you really want to see the accounts of the club , go and find Mr Thomas , or his son and ask to see them , otherwise STFU
If you are that scared of ' risking ' £ 60 to help keep your club alive that you want answers to questions like the ones being asked , you really arent a fan of Leigh Centurions
It is truly pathetic
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| Quote: MJC "I've tried to keep up with what has gone on the last couple of weeks but it seems to me that there are still a number of questions unanswered.
It's great to see people commit to helping the club - be it through LISA or the lottery etc or just getting another person to attend a game.
A number of us have called for it for a long time, but now is the time for the club to be completely open and transparent so that the fans and potenial investors know what the current situation at the club is.
I thought I'd list a few questions - people feel free to answer them or post their questions - hopefully people will answer if they genuinely know the answer or the club will respond.
There are too many rumours going round!
1. Is the club at risk of going into administration/liquidation?
2. Is the club debt free? I thought somebody said the last accounts showed a loss but mostly directors loans?
3. Would the directors want their loans back or be willing to 'rip' them up?
4. Is the problem just our cash flow? If so what is the shortfall? Think somebody mentioned £100k to end of season?
5. What are the other directors/shareholders doing? Are they willing to put money in or have they reached their limit?
6. Would the shareholders/directors be willing to allow an investor to purchase the club for a nominal fee, say £1, on the condition they put in £Xs?
7. Who are currently the directors?
8. Who owns the club?
9. Did Arthur Thomas put his money into the club as personal loans or loans from his companies?
10. Who are the shareholders?
11. Can they pay the players?
12. Can they pay the staff?
13. Has anyone/could anyone start(ed) legal action for unpaid bills?
14. How quickly do they need the money?
15. What does it cost to run the club for a season?'"
What exactly makes you think you have the right to ask these questions ?
Have you financed the club to the tune of over a million pounds in the last 5 years ?
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| I think he has the right to ask the questions,its the answers hes got no right to know, unless the individuals or the club give them out.
This is the problem with shouting for transparency all the time,we've got no right to know other peoples finances.
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