£835k losses for May 2022, up by £600k from May 2021.

Accounts

Incredibly alarming...

17 hours ago, Fraz said:

 #InGardinerWeTrust 

Just like Hearts & Dundee

1 hour ago, ictchris said:

Charles is right, that statement is just waffle.  It doesn't explain why our losses have increased so markedly.

Or outwith ‘trust us’ words, any details or timescale on these enterprise zone, battery farm, exciting opportunities etc on how to deliver them is missing.

I understand the frustration of the fans here, (I have to mention how pleased I am at the level of intelligent comment presented on the forum ), however we will get through it (albeit we may have to restart after administration).

The simple solution and answer of course lays on the football pitch. Get a winning team and the agony we are experiencing dissipates. SG becomes a background figure again!  
Trouble is the team lack the leadership, and dare I say it now, the long term player commitment, to play to their real potential.

SG and the board stuck with BD and we are now down to hoping luck carries us through the cup and remaining league games. Problem is you can’t run a company’s finances simply on that alone!! 

Edited March 2, 20233 yr by Big cherly

11 hours ago, Charles Bannerman said:

This doesn’t exactly make it very easy to obtain information about what’s clearly a critical situation.

Is this not something that a journalist - not necessarily you, Charles - could try to investigate?

Might be met with "No comment" or "Wait for the AGM", but it would at least show the management the level of concern amongst the supporters.

Should we just wait for an ambulance to turn up ?

4 hours ago, ictchris said:

Charles is right, that statement is just waffle.  It doesn't explain why our losses have increased so markedly.

And it doesn’t even quantify/admit to the magnitude of the losses. I find it bizarre that after external parties made this company’s losses public, the company itself completely fails to acknowledge their existence in a prepared statement.

There seems to be much enthusiasm for highlighting links with property management companies and Freeports and Battery Farms when the relevant questions must surely be: “How confident are you that these projects are going to be any more fruitful than the Concert Company?” and “On that subject, what are the implications for the football club of the Concert Company’s collapse?” and “What is the club’s current financial status as opposed to nine months ago as in these accounts, which also pre-date the demise of the Concert Company?” and “What have you been doing for cash flow in recent months?”

Edited March 2, 20233 yr by Charles Bannerman

2 hours ago, snorbens_caleyman said:

Is this not something that a journalist - not necessarily you, Charles - could try to investigate?

Might be met with "No comment" or "Wait for the AGM", but it would at least show the management the level of concern amongst the supporters.

On December 21st, the deadline for holding an AGM, I wrote as a shareholder to the CEO asking when the AGM was scheduled for?

By coincidence, it emerged that day that I was not the only shareholder wondering the same thing, so on December 22nd I submitted a media query to the club on the same subject.

I have still received no answer to either question.

I had no idea the Concert company had been around since 2006 before having a changed name and resolution (business purpose). Anyone more savvy than me want to divulge why a new company wasn't just set up?

https://find-and-update.company-information.service.gov.uk/company/SC307831/filing-history

Not uncommon for businesses to be 'recycled'.  Businesses longevity can make it easier to borrow money etc.

Yes it is often just simpler/cheaper to use an existing, dormant company and use it for a new purpose with a new name, rather than to set up a new company.

Am I alone in being a bit taken aback that the Board have been heavily criticised by some fans for not being communicative but now that they have they are being criticised for not being totally clear. Is any type of business likely to bear all. The plans are now out in the open and they’re to be quoted if they go awry. To me they are also saying that we are safe for another season but suggesting that it is a defining season. It has been evident for some time that there would be no management changes until the close of this season. That structure needs to be changed and that ties in individuals and financial outputs. They are also not going to release up to date financial information as it is not clear.

what we should be doing is filling the ground for the Killie game and making a menacing atmosphere. Then we have another great day out and put much needed spondoolicks into the coffers.

And are the excuses of depreciating away supports and wages to injured players acceptable ? I am resigned to getting this season over - preferably with a bit of a bang - but pressuring the Board if the expected and needed changes and improvements are not forthcoming. There a number of “true” ICT people in the mix and they also have to start making waves which I believe may have already begun.

Watch this space !!

45 minutes ago, IMMORTAL HOWDEN ENDER said:

what we should be doing is filling the ground for the Killie game and making a menacing atmosphere. Then we have another great day out and put much needed spondoolicks into the pockets of people who treat fans with utter contempt.

Fixed that for you 👍

4 hours ago, IMMORTAL HOWDEN ENDER said:

Am I alone in being a bit taken aback that the Board have been heavily criticised by some fans for not being communicative but now that they have they are being criticised for not being totally clear. Is any type of business likely to bear all. The plans are now out in the open and they’re to be quoted if they go awry. To me they are also saying that we are safe for another season but suggesting that it is a defining season. It has been evident for some time that there would be no management changes until the close of this season. That structure needs to be changed and that ties in individuals and financial outputs. They are also not going to release up to date financial information as it is not clear.

what we should be doing is filling the ground for the Killie game and making a menacing atmosphere. Then we have another great day out and put much needed spondoolicks into the coffers.

And are the excuses of depreciating away supports and wages to injured players acceptable ? I am resigned to getting this season over - preferably with a bit of a bang - but pressuring the Board if the expected and needed changes and improvements are not forthcoming. There a number of “true” ICT people in the mix and they also have to start making waves which I believe may have already begun.

Watch this space !!

Regarding the point I have bolded in your quote IHE, that would be the best case scenario because it means that we have gone on an acceptable run of form which puts us clear of the bottom 2 and make a real push for the play offs which we are capable of, we showed against Livingston that we are capable and imho we NEED to consistently play to that level.  

The last thing I want is to have to pay compensation to a manager so I really want us to be successful until the end of the season and would even accept draws as it is points that could be vital to us in the long run.

9 hours ago, CaleyTennis said:

The last thing I want is to have to pay compensation to a manager

Assuming that Dodds's contract expires at the end of the season, then the payoff he would get for being sacked is relatively small (about 3 months if it happened now) and decreasing.  Wouldn't make much of a dent in the cash flow.

But to be honest, unless they have some magician lined up who could take over and guarantee (!) results immediately, I don't see the point in changing managers now.  I don't think we will be relegated.  Get the season over and done with, then make the wholesale changes that are needed - and which should be being planned right now.

I disagree.

Main benefit of getting a new manager in now is that he can start looking at the squad and deciding who stays/goes and identifying needs for next season.

As it is, we're in danger of losing the opportunity to keep players who might be looking to secure their future, and will choose elsewhere etc.

Get Dodds to feck, get a new appointment made and let's not start next season in any more of a back foot than we have to.... assuming we don't go bust first!

8 minutes ago, STFU said:

Main benefit of getting a new manager in now is that he can start looking at the squad and deciding who stays/goes and identifying needs for next season.

As it is, we're in danger of losing the opportunity to keep players who might be looking to secure their future, and will choose elsewhere etc.

That's a fair point.  But you have to balance that against the risk of such a change unsettling the players and making things worse.

1 hour ago, snorbens_caleyman said:

That's a fair point.  But you have to balance that against the risk of such a change unsettling the players and making things worse.

The way I see it, are the players not already unsettled?  Everybody kind of knows that Billy will not have his contract renewed at the end of the season.  Its like watching somebody work out their notice period.  Do you get the best out of a person during that time?  Then in turn, does Billy get the best out of the players we have knowing that he will not be there come the end of the season.

Id be much happier to see Billy go now, get a new manager in, steady the ship and start looking as sorting out contracts for next season.

2 hours ago, snorbens_caleyman said:

That's a fair point.  But you have to balance that against the risk of such a change unsettling the players and making things worse.

Worse...how?!

1 hour ago, STFU said:

Worse...how?!

Well, 8 league matches in 2023 and only Hamilton could beat us, and we have progressed to the Cup QFs. Performances could and should be better but could also be much worse.

Feckin Happy Clapper 🤣🤣

4 hours ago, Yngwie said:

Well, 8 league matches in 2023 and only Hamilton could beat us, and we have progressed to the Cup QFs. Performances could and should be better but could also be much worse.

Worse...how?!

1 hour ago, STFU said:

Worse...how?!

Losing to Livi, Queens Park, Dundee, Raith or Morton was all possible. 

SG will be a guest on Sportsound this afternoon, discussing the financial pressures being faced by Scottish clubs and the loss of income the game is suffering due to illegal streaming services. Hopefully there will be some insightful comment on ICT’s specific predicament too.

The key message from Scot Gardiner’s appearance was that times are tough financially but there is “no danger” of us going bust. He stated that he is more concerned about performances on the pitch.

32 minutes ago, Yngwie said:

He stated that he is more concerned about performances on the pitch.

Tbf he's not done anything to improve that either

What you mean that he has failed as a coach, a tactician and a feckin physiotherapist 🤣🤣