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Post by borobob on Jan 29, 2024 22:09:05 GMT
And you think we have problems?
Report from the Kent Observer, re Ebbsfleet:
The club’s total losses now exceed £18million while loans due now total just over £5million, including a Sport England Winter survival fund loan of £346,000 which is repayable over 20 years with a four-year capital and interest repayment holiday with a two per cent per annum interest charge.
Jeezzzz!!!
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Admin
Administrator
Posts: 909
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Post by Admin on Jan 29, 2024 23:45:04 GMT
Whoever owns Ebbsfleet made a choice. They went full-time when gates were nudging just north of 1,000 and there's been little improvement since then. At significant cost, they also built a new low-capacity main stand designed to maximise the space available behind it (given it backs onto on a main road). But, at the same time, they struggled to make the necessary improvements that would result in the covered shed behind one end being fully opened. Erm, ok.
I looked at their accounts covering the season BEFORE they got promoted and saw a 7-figure loss. Well, either someone is being very generous or there's a pay-off somewhere. I smell they're another club who've separated their football operations from their assets (the stadium, etc).
Clearly, anyone interested in taking them over would see a black hole when looking at their football operations, but it must be more complicated than that. Total debts of over £18M would exceed the value of the site several times over, and what financial institution in their right minds would advance funds anywhere near to that extent? A clue: none of them.
So, either beneficence from a very deep-pocketed owner, or there's another explanation.
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Ebbsfleet
Jan 30, 2024 11:59:12 GMT
via mobile
Post by jumaiton on Jan 30, 2024 11:59:12 GMT
I hope it makes the club and the fans think. You'd hope someone at the club, if we're so tight on finances, gets that we are not in the position off or on the pitch to survive in the NL right now. In which case, we need to build properly, a backbone, longer term players, get some consistency. Several mid table finishes in NLS is progress. It's definitely, unequivocally, progress on 10 years ago.
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