finances

[ayrshire_don74]

Hard hitting stuff from Cormack , we arent immune to the financial meltdown coming.. will need  millions pumped in

[Ernie]

ST holders should buy early bird 20-21 season ticket.  Might help.

[ayrshire_don74]

when does season start ?

[Ernie]

Won't matter when 9if) next season starts if we're down the plug.

I should have said I have bought mine, just an opinion but I'd really like to see us continue at a decent level and I'd be buying it anyway.

[RicoS321]

I feel obliged to renew my ticket early, but I really like buying mine 30 seconds before my seat is due to be given away to someone else.

 

If they announce that because of financial difficulty, we're cancelling westhill (just generally) then I'll definitely buy one.

[TheDeeDon]

Posted elsewhere on here, but wasn't sure of renewing for next season before all this virus kicked off, just pretty bored with a lack of entertainment on the pitch.

 

I appreciate the club could hit financial difficuties, but so too will many individuals in the coming months.

 

 

[tom_widdows]

Posted elsewhere on here, but wasn't sure of renewing for next season before all this virus kicked off, just pretty bored with a lack of entertainment on the pitch.

 

I appreciate the club could hit financial difficuties, but so too will many individuals in the coming months.

Especially given this 'magical'80% wages promise still hasn't been organised and the consensus is companies must pay all the money out first and then claim it back from HMRC.

 

How many companies out there have enough cash in the bank to pay all their outgoings (even if its only 80% staff wages) with no income for 3-6months on the promise they will get the money back eventually?

 

Can't say I trust the banks to help in this situation

 

 

[ayrshire_don74]

80% to 25k we are burning 1.3m a month and appears our insurance wont pay out ... i reckon there needs to be some sort of uefa/fifa bail out , but without being cruel if shitty wee clubs disappear then so be it there are far too many clubs in our league

[mini59dons]

Where do Uefa get the money from?

 

I've had a discussion with a hun telling me they will be OK as uefa have guaranteed them the money from the next round! Where does that 6 million come from? Do they even have it to dish out (Der hun must be way down the list).

 

Similar issues in Aussie rules too, they have asked the player to accept a 50% pay cut for three months and asses it after that, we played the first round behind closed doors so I guess there was some mad Foxtel clause after that was done but there is no money after that!

 

80% to 25k we are burning 1.3m a month and appears our insurance wont pay out ... i reckon there needs to be some sort of uefa/fifa bail out , but without being cruel if shitty wee clubs disappear then so be it there are far too many clubs in our league

[Panda]

Where do Uefa get the money from?

 

I've had a discussion with a hun telling me they will be OK as uefa have guaranteed them the money from the next round! Where does that 6 million come from? Do they even have it to dish out (Der hun must be way down the list).

 

Similar issues in Aussie rules too, they have asked the player to accept a 50% pay cut for three months and asses it after that, we played the first round behind closed doors so I guess there was some mad Foxtel clause after that was done but there is no money after that!

 

Uefa make between £2.5bn & £3bn a year in revenue I believe.

 

The majority of that is from selling the TV rights for the Champions League and Europa League. BT's deal for the U.K. is worth £1.2bn for 2021-2024 I think.

 

The rest of it comes from commercial rights, sponsorship, and ticket revenue.

 

Aye they're not short of a few bob like.

[Madbadteacher]

Saw Cormack on a Facebook post talking about AFC and the current situation.

Not much newsworthy there I know but he was wearing an AFC top Canna mind ever seeing Stewartie wearing one?

Keeping up his “man of the people/fan” persona maybe, but was still a nice touch IMO

[Jute]

Cormack to appear on Sportsound today at 2pm with announcement about club.

 

https://mobile.twitter.com/CormackDavie?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor

[Jute]

Announcement from club of wage deferrals for players and management team.

 

https://www.afc.co.uk/2020/04/04/financial-position-bolstered-by-wages-deferral-and-2million-from-investor-group/

[invernessreds]

If you missed the interview you can catch it here:  https://www.invernessreds.co.uk/bbc-sportsound-interview-dave-cormack-and-derek-mcinnes/

[TheDeeDon]

Good news. I think we are lucky having him at the helm at the moment.  I'm not convinced by him, but he does speak a lot of sense and he takes responsibility as our Chairman and rather him at the helm than Milne, especially with what is happening.

 

Still not sure about renewing out STs though. 

[manc_don]

Good news. I think we are lucky having him at the helm at the moment.  I'm not convinced by him, but he does speak a lot of sense and he takes responsibility as our Chairman and rather him at the helm than Milne, especially with what is happening.

 

Still not sure about renewing out STs though. 

 

I see a lot of fans doing it, despite their own finances being tough.  Good on them.  But what does the footballing landscape at the club look like next season?

 

I like what i've seen from Cormack so far and seems to have quite a hands on role at the club, moreso than Milne appeared to take.

[DantheDon]

Add to that it wont be in front of fans even if it does restart, which means the club will probably have to refund all these season tickets it has sold in the last month. It's going to be a difficult situation.

[RicoS321]

Add to that it wont be in front of fans even if it does restart, which means the club will probably have to refund all these season tickets it has sold in the last month. It's going to be a difficult situation.

 

No they won't. Just as they haven't offered - and there has been zero discussion or suggestion of doing so in the press - to repay season ticket holders for the remaining games that they inevitably won't get to see. I expect most, if not all, fans won't want a refund anyway. Just a ticket for the new season when it inevitably begins.

 

Realistically football is not going to happen again until August at the earliest. At an average wage of let's say £3,500 per week it must be costing the club around 400k per month to pay the first team wages. On that basis, by the restart that could be roughly two million pounds down the chute. Why are we doing that when we could just be paying them £2500 per month and getting it paid for us by the government?

 

I thought that the players agreed to take a paycut? These guys are just young lads with kids (in some cases) and mortgages and so on like the rest of us. They're nae multi-millionaire EPL players. The club will be expecting them to be keeping up with training and doing some community stuff too, so they'll still be performing a job of sorts (Shay will be fixing folks' bogs) so wouldn't be elligible for furlough anyway. I think that it's a good thing that the club shows loyalty to the players, and I think it's a good thing for fans to do so too if they can afford to.

[mini59dons]

They are not millionaires but surely most people can live on £2,500 per month for a wee while, not like there is anything to spend your money on just now anyway.  There is no reason for them to work.  If it is a choice between saving a couple of million or the players coming back slightly less fit then I know what choice I would be inclined to make.  Would be pretty cheesed off if I were an AberDNA contributer and my money was getting p****d down the drain so that Scott McKenna can do a wee bit of work in the community.  Was our celebrity chairman not insisting last week that we would be as well going into the car park and setting fire to a million pounds each month?

 

Is the alternative not having Scott McKenna leaving the club under breach of contract rules and signing for Celtic?

 

[BigAl]

If there are no fans at Pittodrie until next year that is another £2.5M out of the kitty in gate receipts before you even think about lost sponsorship and commercial revenue.  They have a massive job on their hands to keep the club afloat, just saying that they should not be spending anything that they do not need to at the moment.

 

All of which backs up why Dave said weeks ago that this could send up costing us in excess of £5million.

Fucking grim as it is I'd stake good money on us surviving before a number of other clubs.

[Jute]

With league being called Dons have emailed season ticket holders offering a refund in remainder of the season but asking fans not to take it up. Saying it will cost club £1m to refund season ticket holders, sponsors and advertisers. As I am lucky enough to be still working and getting paid full wage I will not be asking for the refund but suspect their are others who will need that money.