Author Topic: Finances  (Read 2605 times)

rob.1987

  • Full Member
  • ***
  • Posts: 234
    • View Profile
Finances
« on: August 25, 2020, 11:20:17 AM »
Looking at the calibre of our signings so far got me thinking about how our budget shapes up going forward, vs previous (recent) seasons.

Given we now no longer have to pay £75k for YS, how much of this do we think has been added to the 'pot' for players/staff etc?

It's a huge amount of money to now not have to find, albeit how much of the stadium costs are funded by the club itself? Both now, and on an ongoing basis?

You'd like to think much of the ongoing running costs will be offset by revenue generated by the facilities we'll be able to hire out.

Do BUFC produce annual accounts?

Ferret

  • Veteran Member
  • *****
  • Posts: 537
    • View Profile

Pete B

  • Veteran Member
  • *****
  • Posts: 1195
    • View Profile
Re: Finances
« Reply #2 on: August 25, 2020, 03:13:28 PM »
Can someone explain why the docs on Companies House say the rent due to the Malkies was £1.00 a year when we've been told the club was paying them £75k? I'm too dense to understand the legal speak.

Pilgrim86

  • Veteran Member
  • *****
  • Posts: 5002
    • View Profile
Re: Finances
« Reply #3 on: August 26, 2020, 11:26:22 AM »
Was the rent paid by another company perhaps? There are several "Boston United" companies in existence.

I've had a quick look through them but can't see any mention of rent in their costs - unless it's swallowed up by "Charitable activity costs" in the community company.
I create YouTube videos (BUFC/FM/CM 01-02), and stream Football Manager on Twitch as BostonUnitedFM.

http://bufm.co.uk/

joshb

  • Veteran Member
  • *****
  • Posts: 1135
    • View Profile
Re: Finances
« Reply #4 on: August 27, 2020, 10:37:20 PM »
Looking at the calibre of our signings so far got me thinking about how our budget shapes up going forward, vs previous (recent) seasons.

Given we now no longer have to pay £75k for YS, how much of this do we think has been added to the 'pot' for players/staff etc?

It's a huge amount of money to now not have to find, albeit how much of the stadium costs are funded by the club itself? Both now, and on an ongoing basis?

You'd like to think much of the ongoing running costs will be offset by revenue generated by the facilities we'll be able to hire out.

Do BUFC produce annual accounts?

Shareholders get a proper printout with a full breakdown of expenditure and income which is a lot clearer than the docs on companies House!
We must be due the figures for the 2018/9 season but suspect covid meant the agm didn't go ahead when planned!

rob.1987

  • Full Member
  • ***
  • Posts: 234
    • View Profile
Re: Finances
« Reply #5 on: August 28, 2020, 09:27:03 AM »
Are you a shareholder joshb? I'd be keen to see fuller accounts if/when available.

My assumption is for the club to be in a significantly stronger financial position almost immediately, and the signings would suggest so (based on a massive assumption that these new guys are being paid proportionate to their track record/recent club status), which is massively encouraging.

That said, I don't know how much of the costs for the stadium fall on the club itself (both during the build and then on an ongoing basis thereafter).

Pete B

  • Veteran Member
  • *****
  • Posts: 1195
    • View Profile
Re: Finances
« Reply #6 on: August 28, 2020, 12:11:43 PM »
Are you a shareholder joshb? I'd be keen to see fuller accounts if/when available.

My assumption is for the club to be in a significantly stronger financial position almost immediately, and the signings would suggest so (based on a massive assumption that these new guys are being paid proportionate to their track record/recent club status), which is massively encouraging.

That said, I don't know how much of the costs for the stadium fall on the club itself (both during the build and then on an ongoing basis thereafter).

I believe that the Chestnuts are footing the bill for the stadium and then essentially gifting it to the club, in the sense it will be held in the trust of a separate community interest company (Boston United Community Interest Company) and leased to the club for a peppercorn rent. To all intents and purposes the stadium will be 'ours', but not owned by the club itself. This is a smart, sensible move by the Chestnuts as it means no one person can ever own the ground as an asset in its own right, which makes the club far less desirable to wrong 'uns and shysters who might be interested in buying Boston when the Chestnuts eventually move on.

Dipdodah

  • Veteran Member
  • *****
  • Posts: 1536
    • View Profile
Re: Finances
« Reply #7 on: August 28, 2020, 03:43:18 PM »
I think I heard somewhere, that the land does not belong to the club. I believe that it is owned by the church,  and we have a 99 year lease.
Behind every successful man is his woman.  Behind the fall of a successful man is usually another woman.

Mad Dog

  • Full Member
  • ***
  • Posts: 156
    • View Profile
Re: Finances
« Reply #8 on: August 28, 2020, 09:46:01 PM »

Posts: 1358
View Profile  Personal Message (Offline)

Re: Finances
« Reply #7 on: Today at 03:43:18 PM »
Quote
I think I heard somewhere, that the land does not belong to the club. I believe that it is owned by the church,  and we have a 99 year lease... being selfish, 99 years will see me through!  :)

Old boy thin

  • Veteran Member
  • *****
  • Posts: 619
    • View Profile
Re: Finances
« Reply #9 on: August 29, 2020, 08:25:00 AM »
I think I heard somewhere, that the land does not belong to the club. I believe that it is owned by the church,  and we have a 99 year lease.
Yes you correct, this does mean in the future that that football will always be able to be played there, even if God Forbid that Boston united went bust.
It also prevents a future owner of the club being able to assist strip us., and as you said keep those kind of undesirables away from our club.
I do think though that in the future the Trust should have the final say on who has a financial stake in the club.
When the Chestnuts do finally decide to step away from the club, we should all tread carefully and ensure all of us as fans have a say in the new owners.
"I don't believe you""
"That's of minor importance, what is of major f***ing importance,is that l believe you".

joshb

  • Veteran Member
  • *****
  • Posts: 1135
    • View Profile
Re: Finances
« Reply #10 on: September 02, 2020, 05:26:30 PM »
Are you a shareholder joshb? I'd be keen to see fuller accounts if/when available.

My assumption is for the club to be in a significantly stronger financial position almost immediately, and the signings would suggest so (based on a massive assumption that these new guys are being paid proportionate to their track record/recent club status), which is massively encouraging.

That said, I don't know how much of the costs for the stadium fall on the club itself (both during the build and then on an ongoing basis thereafter).

No, dad is though so I've seen the numbers