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Battery Project - Chairman's Statement


DoofersDad

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2 minutes ago, Jack said:

Hopefully we're financially secure for at least a few years now.

Given the comments of the Chairman on Saturday it does not look that simple. Lose this Saturday and stay near the bottom of the league does not generate lots of revenue. We currently do not know the true operating position of the Club and most of us listen more to the Chairman, than the CE.

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The Chairman said at the Supporters Trust Meeting on Saturday that the club will get a one off seven figure cash injection very quickly (I think he said in 10 days). There is no ongoing income stream from this.

The cash injection will pay off debts and allow investment which will secure future income streams (such as the use of the North Car Park as a Park and Ride for the Red John construction workers.

I agree that we need transparency as to what it means, what the plans are, what it means in the long term etc.

It has to be good news though, as the consequences of rejection would have been significant and far reaching. 

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Having a property magnate on the board, will this entail the 'battery company' pursuing more of these ventures?

We (scotland) will require many more of these in the electricity dependent years to come.

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1 hour ago, bdu98196 said:

Not ensuring a percentage of any long term profits at the expense of reducing the initial lump sum may prove an unwise move.

We don’t know the detail of the transaction. The land was gifted to the club so it may be that the cash coming to the club is due to it being sold on to those developing the scheme (that is my guess though) so there has never been any scope to maintain an ongoing income stream.

The Chairman did say on Saturday that the delay in planning did result in the club receiving less than it would have, as it took the deal beyond a critical milestone.

We don’t know what the scale of the seven figure sum is as I don’t believe that has ever been made public.

Now the challenge for the Board and CEO is to use the money wisely to secure the long term future of the club, securing the ongoing income streams (no indication to my knowledge as to what they are other than the Red John Park and Ride), making the match day experience more appealing to fans, and allowing the club to be in promotion contention next season (in the Championship, not League 1).

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This would seem to be one of the biggest days in our history in terms of off the field activities.
 

After all the negativity, criticism and derision on this thread, I think there should be some recognition of the achievement of the club and its partners to have firstly conceived this remarkable high benefit, low risk deal, and then to push it through and overcome the considerable planning permission challenges.

Morrison and Gardner have played an absolute blinder here, haven’t they?

 

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5 hours ago, Jack said:

Hopefully we're financially secure for at least a few years now.

Hope so. This deal seemingly clears the debt and puts some cash in the bank but I’m pretty sure we are still losing money on a daily basis and that will probably remain the case until we get back in the Premiership or go part time.

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7 minutes ago, Yngwie said:

This would seem to be one of the biggest days in our history in terms of off the field activities.
 

After all the negativity, criticism and derision on this thread, I think there should be some recognition of the achievement of the club and its partners to have firstly conceived this remarkable high benefit, low risk deal, and then to push it through and overcome the considerable planning permission challenges.

Morrison and Gardner have played an absolute blinder here, haven’t they?

 

I have to agree Yngwie, I had my doubts about this project thinking it was all hot air.  I hope it all goes to plan now and works for the benefit of our club and the community. 

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18 minutes ago, Yngwie said:

This would seem to be one of the biggest days in our history in terms of off the field activities.
 

After all the negativity, criticism and derision on this thread, I think there should be some recognition of the achievement of the club and its partners to have firstly conceived this remarkable high benefit, low risk deal, and then to push it through and overcome the considerable planning permission challenges.

Morrison and Gardner have played an absolute blinder here, haven’t they?

 

Quoting Maggie when British troops landed on south georgia

rejoice on that news and let’s congratulate our board members.

 

ps Derek Adams has just resigned from the managers job at county 

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12 hours ago, STFU said:

All that can only happen if there's anything left after clearing debts.

If I remember correctly the clubs financial report usually surfaces under the cover of darkness around about February so we will probably have a clearer picture of how badly the club is holed under the waterline soon. Up to May 2023 anyway.

I think operating losses have been ranging between £400K and £800K in recent years. The cup final would have helped the 22/23 numbers. The rumour I heard was that most of the money from the cup run was swallowed up by a debtor demanding repayment of short term cash flow he had provided.

I imagine the report for year ending May 23 will show the club is still weighed with debt > £1.5M. I would expect the 23/24 season has been terrible from an operating perspective made even worse by all the ongoing personnel sagas. I wouldn't be surprised if the black hole that first needs filled is > £2M.

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18 hours ago, Stephen Malkmus said:

“I was pleased to be there in person today at the Highland Council’s HQ to see democracy in action.” 

That is quite a reach from the esteemed chairman after months of emotive public lobbying. Of the 5 councillors who were allowed to participate in the vote, none of them represented the areas impacted by the development. Donald Trump democracy.

 

Edited by wilsywilsy
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38 minutes ago, wilsywilsy said:

“I was pleased to be there in person today at the Highland Council’s HQ to see democracy in action.” 

That is quite a reach from the esteemed chairman after months of emotive public lobbying. Of the 5 councillors who were allowed to participate in the vote, none of them represented the areas impacted by the development. Donald Trump democracy.

 

You’ve made quite a few interesting and informative contributions on this subject, which I appreciate and I’m sure others do too. I’m curious though - is it the case that you didn't want this application to succeed?

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