TOPIC: £1.8 million

Link - www.newsandstar.co.uk/news/carlisle-unit...es-to-1-8m-1.1231256

Well it seems my guess wasn't too far off, although I had actually expected it to be a bit higher than that.

What a shan like..only has himself to blame down to his own incompetence of running the club.

markredfox73 wrote:
Come on Mark we made a massive profit last year didnt we?

Funny isn't it Dancingbear. It does tie in very nicely with what Laffy and I were saying at the time. In a business like this cash is king, the write off of the loan from big Fred is where the huge operating loss was turned into a decent profit. The cash which Fred loaned to the club was used ages ago, if I remember it right it went to Bristol and West. So although the accounts when finalised show a profit (and a decrease to the retained losses), in cash terms it was another horrible year. An operating loss approaching half a million, or whatever it was, had to be shored up by yet another huge cash donation.

I was also right that the auditors have noted the problem of the club continuing as a going concern, this is a fairly standard paragraph, but it should not be taken lightly. Very few businesses can continue to operate whilst sustaining half million losses year on year. The current accounting year will not be anywhere near as bad, and they have done the right thing in ensuring all the transfer deals are included in the period. Even though the Potts one could probably have gone in last year. So I am imagining a bit of a respite for Mr Jenkins now, he'll not need to inject any more cash this season. But it is just a case of cracks being papered over.

Can't add much to your comments Moorlad-the accounts do not lie and the auditor report says it all.

But hey-I'm of dubious business practices apparently and a sticking plaster without a pot to p..s in.

Big round of applause to the Chairman of a football club for spending money on the football club he is Chairman of...


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Indeed, you're right. Of course auditors have to cover themselves, and they're a cautious bunch, however they wouldn't be putting the Going Concern paragraph in without considerable thought. Those comments about you were a disgrace and I seriously hope they come back to bite their arses.

cocaineblues wrote:
Has he spent anymore money though? I wouldnt class a loan even though he prob wont get it back as spending money.

MOORLAD & LAPPING FOR CUSTODIANS!

Thats how much it costs him to retain his chairmanship. Hope he never gets it back.

Sorry Mashie, I haven't a pot to piss in.

Nixon seems to have a lot to say about the report for someone who has retired from the day-to-day running of the club.. including even being thanked for his time at the club in an official club statement.

I know this is most probably me being completely thick and naive into business practices.... but if you run a business extremely badly.. surely you lose money... the business doesn't just borrow a personal loan from yourself. Presumably it has something to do with limited liability and the way the business is structured but I can't help feeling that the financial loss and our league position for the last 3 decades is a large part his fault.. and should come out of his pocket... not be a loan from the club to him.

Despite reports to the contrary,I do have a pot to piss in-as do the guys who offered to support my proposal to deleverage the Club from Jenkins family money.

Moorlad is right-the Club has been literally burning Jenkins family money for a number of years-a decline simply propped up by the bank of AJ whose continued benevolence in the face of abject financial failure is to be widely applauded-he has, to put it bluntly ,put his money where his mouth is.

As the search for new investors goes on,AJ will have to continue to provide financial guarantees to the Club's auditors over financial solvency-whilst my wealth and financial and business acumen was shredded by those who have brazenly presided over this performance.

Laffy wrote: I wish your investment plan had been successful and think the current board treated you terribly, but please take care when using the word literally. Even they wouldn't be daft enough to literally burn money, would they?

I'm past caring about andrew jenkins now had his chance to bail out and blew it big time too busy being brainwashed by john nixon who is enjoying all the trappings whilst loaning the club peanuts when you consider how many free days and corprate shite hes had over the years .

Ps
Enjoy your free meal /wine and luxury travel to welling john you f**king deplorable excuse for a man who says he cares about CUFC .

Man after my own heart Alan.

hear hear couldnt have worded it better

Daft question but How much has Pattinson put into the club?

Leech springs to mind.

Moorlad wrote:
Yeah on paper the Potts money could be included - how much of it have we actually received tho, given the antics of the Blackpool owner over the recent past. Who polices that they pay up in a proper timescale.......am assuming we get the dosh in installments, so therefore we can`t benefit from money we haven`t yet received. Same for Dempsey, did we get that money in 1 payment? Luckily there was the Liverpool money - whereas last year we had zero cup runs and so no money.

Blustone wrote:
Be fair, he put some new doors up once over!

Staggering levels of generosity from Mr Jenkins and not one word of thanks or appreciation on here

That's 1.8million of his own money he's out into the club. Without him there would not be a Carlisle United - FACT

SilentStan wrote:
It's a quantitative measure of how he's ballsed up the business side of the club. Without him, there'd be a different carlisle utd, maybe more successful, maybe not.

It's a bit like me saying without my generosity in paying my mortgage there'd be no house here. Yes, there would, there'd just be someone else living in it.

i doubt it stan...his own money put because of his own incompetence is more like it.. yes the pioneer loan needs paid back,but to want his own money back beggars belief considering its his own fault for getting the club into the stale state .

I am damn sure another person would come in and do a damn sight better job of what he has done.. His ability to be part of the club should have been over many moons ago.

now stan go and get your head out of Jenkins arse man!

orfc wrote:
That's a stupid analogy.

The 'house' is up for sale and there are no credible buyers coming forward with firm offers yet

And if the 'house' was empty then it wouldn't just stand there in the street, it would be deomlished.

Then none of use could go and cheer our house on against other houses

Somebody wanted to rent the house to stop it crumbling into obscurity, but the buyer was gazumped by an imaginary billionaire.

No credible buyers Stan, your having a laugh surely.

" No credible buyers"

Stan you are just clutching at straws man..The clear pattern with jenkins at the helm has been a club in debt and going nowhere

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HI Id like to buy your house please.

Great! Let's complete next month!

Ok, time to complete! Do you have the money in place?

Well, I have some. But I'm just waiting for 15 of my mates to chip in too....

Great, deal is off, you don't have the cash ready. thanks for wasting our time.



Just imagine that scenario, but with HMRC. Administration, point deductions, players not getting paid, liquidation....

People need to get real and show some appreciation

Cheers Steven.

Mouldy wrote:
Great argument there from someone who wanted to represent all fans.

I'm entitled to my opinion and backing it up. People are allowed to have a different opinion than the hateful consensus on here.

SilentStan wrote:
Isn't that where we're heading once Jenkins leaves the club at this present time or if things continue until his Family finally put a stop to him haemorraging money to keep the club afloat?

Thank your lucky stars that you fluked a good appointment in Curle so that an upturn in fortunes on the pitch has distracted a lot of the fanbase as to how the club is being shanfully run according to the accounts.

Don't see what all the fuss is about £1.8 million is nothing to our billionaire, sure AJ will get all his money back in no time.

Absolute joke of a BOD, get out of our club parasites.

SilentStan wrote:
If I was successful in representing all fans, which I wasn't - by quite some way, then any views posted by myself in a none official capacity would purely be views of my own and no other.

From a purely business point of view, the man is single handedly keeping the 'company' trading. However, from the same business perspective, he and his fellow directors have been trading at a loss.

I have been very vocal historically on here and the old board about the lapping deal perhaps not being as great as we thought - and the current directors perhaps doing what is best for the company by vetoing.

So, since my light hearted humour isn't appropriate, let me expand on the above points.

A director's main job is to do as best fit for the company. A string of poorly informed managerial appointments, contract lengths that end in large payouts upon dismissal and a failure to increase turnover, in my opinion, is not what is best for the company.

With rumoured question marks over Mr Jenkins personal health previously on here, I actually feel it is in best interests of Mr Jenkins and the club for them to part company and for him to either actively seek new investment, open the doors up to Lapping et al and let due diligence commence on a new proposal - this time perhaps a more corporate firm look after that, alternatively this 'billionaire' fiasco could be put to bed and allow realistic concentration to be put by the operational and holdings co board into turning the club around.

FS writing off a debt of 1m+ has helped smooth over (to some extent) a very torrid set of accounts, relegation has taken its hit off the balance sheet and no balancing act on terms of increased turnover or necessary reduction of overheads has taken place.

We're starting to see signs of improvement with the appointment of Phil King, however, in my opinion (and an opinion purely of my own and not representative of the whole fanbase, Stan) too little too late.

This could have been avoided had the club been run correctly since FS parted company. I have no doubt that the current BOD's were great slow, steady, sensible heads behind the groundbreaking enthusiasm of FS, but leader of a football club they are not.

Thanks for the financial support AJ, but I will not be thanking you or your fellow shareholders for holding on to long.

SilentStan wrote:
Fookin hilarious, you really are two hat of the highest order! So come on Stan, where's your Billionaire with his dosh? What a w4nker!

SilentStan wrote:
Without him and his fellow muppets the club would be being run by competent people - FACT

BTW, who is "Keith"?

I was gutted when Lapping's deal did not come to fruition, but if you consider the amount of money Jenkins is owed by the club (£1.8m) then £1.25m investment isnt going to last long. you can never guarantee that fans would return in there thousands to increase revenue......the stay away fans want more than just entertaining football. I would also think that any equity within the club isnt worth anything to Jenkins considering the money he, and pioneer have loaned to the club

PaddockRanger wrote:
£1.25 million is a lot better the nowt,i also think Andrew would have raised the money promised and that would have just been the start.

Genuine question, and I wouldn't want to wish ill on the incompetent old fool but what actually happens to the club if AJ kicks the bucket/is under power of none CUFC benevolent attorneys?

ParcelPete wrote:
Well luckily those in charge take more into account than blind faith and if they talk a good game on a messageboard...

SilentStan wrote:
That's almost funny. How's that imaginary billionaire working out? Blind faith doesn't come into it. People who actually exist are always a better bet than ones you've made up.

Who's "Keith"?

My God, you're right SilentStan. How wrong we all are. How terribly unappreciative we are. Please, do make sure the board carry on their good work.

Don't leave your car at Brunton Park Stan. Remember what happened last time.

BlueofBuckshaw wrote:
Something about a waterway filled with excrement and no means of propelling ourselves comes to mind.

DeckchairBlue wrote:
If the debt was called in and they wouldnt accept a CVA then wed prob be liquidated. I think were seeing tonight why the land around Brunton Park is worth F all

Once again,for those who did not understand or read the restructure note and Trust vote.

The basic proposal hinged on raising £1.25m.I was very confident,hence I personally embarked on a journey over 12 months and spent a pile of money on advisors-but let's consider what would happen if I didn't raise it?

-the Trust vote would be null and void.No change.That was the deal

-the current board could reject it as not being enough

-I could walk away myself

But you know Stan.At least I tried and a lot of the initiatives I proposed,notably strengthening fan representation via increased Trust membership,have been belatedly implemented.I was very confident of raising the money and was simply executing a transaction in a Regulatory approved way with a plan.That incorporated financial DD to reassure the investors that there was no black hole and also made the proposition attractive through restructuring the Club itself,including the balance sheet.

Of course there are some who think that doing nothing and letting poor old AJ shoulder the burden himself is the option-forced to put money in via loans because of the share structure.That in light of the financial results is clearly unsustainable.

This wasn't about buying a house with other people's money-I have absolutely NO interest in running the Club but I do know people who are and can,with the right platform,deal with the very obvious reliance on the benevolence of the chairman

I cannot understand why so many supporters think AJ cannot run a business.Where did he get the millions to put into the club?The answer of course is by running a very profitable business.It has got to be understood that you cannot run a football club the size of Carlisle United at a profit. In France the local council build and lease the stadiums at a reasonable rent.Nearly every company in the area sponsor some area of the club however small. Could this not be a better model for Carlisle?
Meantime appreciation should be given to AJ for the work and financial commitment he has given.

Zzzzzz

Give over Shaldon- stan..pattison ffs

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