Trust money

[Hempstead Gaz]

I understand that the Trust has accumulated a substantial amount of money over the last couple of years.

It appears that the trust are not best pleased with certain events of late in relation to MYFC (presentations etc).

It has already been debated that paying the wages of players is not a great option.

The question is, do the trust keep the money for a rainy day, lest this whole MYFC thing goes belly up after a year or 2 (in which case the money would be very handy to rebuild the club), or does it spend it on the loyal supporters who watch Fleet through thick and thin, especially on those cold, wet, bleak Tuesday nights in winter.?

 

If the latter is the case, I would vote to extend the main road terrace cover along, past the club shop and tea bar, making it a lot more confortable (and dry ) foor anyone visiting the shop or queueing for a gristleburger.

[kaizen]

I'd be inclined to choose the former, certainly for the time being - first year renewals will see just how sound the MYFC thing is and that money just might be necessary to see the club through if it all goes wrong..

 

With regard to extending the terrace cover much as I admire the idea (especially as I sometimes stand there) surely as owners that's something MYFC should be doing and not the Trust.

[fleetjon]

And the possible new stadium in 3 to 6 years i heard a while back, probly not worth speanding too much on stonebridge road. any news on the new stadium? been quiet for quite some time now.

[Digitalis]

Originally Posted By: Hempstead Gaz

It appears that the trust are not best pleased with certain events of late in relation to MYFC (presentations etc).

 

Was MyFC responsible for the delay in starting the presentations? I thought it was a [****!!****]-up between Liam and the organiser.

 

Maybe Jessica should have a go at a MyFC Board Member. Oh, er...

 

Completely agree with your idea on the covering though, depending on the definition of "substantial" I suppose.

[Harry J Allstars]

You've gone and kicked it all off now Gary

 

Originally Posted By: Gadgetman

On the fan's forum today, Hempstead Gaz started a thread called "Trust Money".

 

The first line of his post was:

"I understand that the Trust has accumulated a substantial amount of money over the last couple of years."

 

I just wondered if this was correct and what is meant by "substantial".

 

I can't believe that a Trust set up to help the club would withhold finance when the club was in trouble, particularly considering the people involved in the Trust and their commitment to the club. So I would assume it is not a significant amount, as opposed to substantial.

 

It's a bit strange though, if the statement is correct. Anyone know what the amount is and why it hasn't been applied to benefit the club yet?

 

Originally Posted By: doheochai

Can I ask a couple of questions and maybe a member of the Fleet Trust could answer -

 

How much money does the Trust have in it's accounts (the post mentioned thousands)?

 

Where did this money come from?

 

Did the money include profit from merchandise sold to MyFC members?

 

Does the Trust intend to forward money to the club in the near future and, if so, how much?

 

I am a bit perturbed at the suggestion that the Trust should hold onto the money in the event that MyFC goes belly up - especially given that some of it is the result of MyFC members buying merchandise in the club shop which the Trust run for the club (as indicated in the following post)

 

The question is, do the trust keep the money for a rainy day, lest this whole MYFC thing goes belly up after a year or 2 (in which case the money would be very handy to rebuild the club),

 

Can a member of the Fleet Trust indicate if discussions have taken place in this vein and, if so, what consensus have the Fleet Trust arrived at?

 

I believe these questions are valid given that three members of the MyFc board are members of the Fleet Trust.

 

Originally Posted By: Harry J Allstars

 

Quoting: doheochai

How much money does the Trust have in it's accounts (the post mentioned thousands)?

 

You won't get that answered and quite right to.

 

Quoting: doheochai

Where did this money come from?

 

Or that.

 

Quoting: doheochai

Did the money include profit from merchandise sold to MyFC members?

 

Probably, is that illegal? The money comes in from all sorts of revenues. Shop merchandise and fundraising is part of this.

 

Quoting: doheochai

Does the Trust intend to forward money to the club in the near future and, if so, how much?

 

The Trust was paying an amount to the club every month. I don't know if this still happens but I can't see why not.

 

Quoting: doheochai

I am a bit perturbed at the suggestion that the Trust should hold onto the money in the event that MyFC goes belly up - especially given that some of it is the result of MyFC members buying merchandise in the club shop which the Trust run for the club (as indicated in the following post)

 

The Trust is there for the club, not the website. If the Trust handed money over to any other organisation than the club then that would be illegal.

 

Quoting: doheochai

The question is, do the trust keep the money for a rainy day, lest this whole MYFC thing goes belly up after a year or 2 (in which case the money would be very handy to rebuild the club),

 

See above.

 

 

Quoting: doheochai

Can a member of the Fleet Trust indicate if discussions have taken place in this vein and, if so, what consensus have the Fleet Trust arrived at?

 

I couldn't but even if I could I wouldn't.

 

Quoting: doheochai

I believe these questions are valid given that three members of the MyFc board are members of the Fleet Trust.

 

 

These questions are not valid as you are not a member of the Trust and so have no right to ask. If you were they wouldn't post them here. Three members on the MyFC board? I think you'll find it's two.

[Jeff]

It's also been a top night for troll appearences on MyFC as well.

[Hempstead Gaz]

Just goes to show what a liar Lord Haw Haw is!!

Nowhere in my post did I mention thousands. Just a substantial sum.

Now that could

[Hempstead Gaz]

And thanks for batting in my corner on the MYFC corner, Paul. At least I think you were!

Appreciated.

[Digitalis]

Originally Posted By: Hempstead Gaz

I will be happy to be corrected, but isn't the Trust entirely independant of the Football club, it is run by supporters, for supporters, helping the club run where appropriate.
As such, it is nothing to do with MYFC. And should remain that way.

I think this is where the confusion lies. If that is correct, of course it is nothing to do with MyFC. Except if the money were to be used for ground improvements they would, as owners, have to sanction that. I cannot imagine for a second they would be against it.

If however the remit is to provide funds for the club, it is a different matter and I would definitely be interested in knowing why funds have been withheld when the club was going through a difficult time financially, particularly as the club has provided facilities and, I think, branded goods for sale.

Until it is clear what the Fleet Trust remit is, and how much the "substantial" amount is, all we are doing is guessing.

I hope it is the first option, because these are people who have done masses of voluntary work and are completely committed to the club. I cannot see what they would achieve from holding back funds if it was rightly due to the club.

I also think the Nike deal has muddied the waters. Who will be selling the shirts etc. next season, Nike people or the Trust? If it is Nike-paid people, who I do not expect for a second will be volunteers, what will the Trust focus on? And will the shirt prices reflect the expense of paying people to do what was voluntary work before?

[Hempstead Gaz]

I certainly will not answer on behalf of the Trust, there are people far better qualified than I so to do.

I would point out that whilst MYFC now "own" the club, they do not own the ground. Nor do Ebbsfleet FC.

It is leased from the owners - possibly Land Securities or LaFarge.

I think perhaps it is you who is muddying the waters by bringing in kit sales/Nike etc into the debate. The trust is not a busniness nor makes a profit. It is run by volunteers, any money it makes is held until such time the club/team/supporters benefit.

It has worked very well until now, it ain't broke - don't try to fix it.

[Stu M]

Originally Posted By: Digitalis

Until it is clear what the Fleet Trust remit is, and how much the "substantial" amount is, all we are doing is guessing.

Exactly. Unfortunately, there's a lynch mob of bozos (not you Digitalis!) ready to jump to conclusions at every sniff of a rumour. The MyFC forum might be a happier place if thse who thought they knew everything actually realised they need some facts at their disposal.

At the moment, it's like this place in close-season but on stronger drugs.

[Harry J Allstars]

Originally Posted By: Digitalis

I think this is where the confusion lies. If that is correct, of course it is nothing to do with MyFC. Except if the money were to be used for ground improvements they would, as owners, have to sanction that. I cannot imagine for a second they would be against it.

Well then what's the problem? I shall imagine the Trust may well put money towards jobs like ground improvements but this will be in agreement with the club. Imagine the Trust is a seperate company from the Club and MyFC. They have shareholders who vote on where to spend the money. The wheels of motion will then be put in place and the money can be spent.

[Digitalis]

Originally Posted By: Hempstead Gaz

I think perhaps it is you who is muddying the waters by bringing in kit sales/Nike etc into the debate. The trust is not a busniness nor makes a profit. It is run by volunteers, any money it makes is held until such time the club/team/supporters benefit.
It has worked very well until now, it ain't broke - don't try to fix it.

Fair enough. I'm not trying to upset anyone, have no hidden agenda and am genuinely concerned about what will happen next season with the Trust.

I'm not a member but if nothing else this has made me think about joining, but when I looked on the Trust site I couldn't really establish exactly what I'd be contributing to.

A potential issue has been highlighted and questions asked. I take the hint (unlike some, if you know what I mean!) and will butt out on this forum.

[GNFC4ME]

Originally Posted By: Hempstead Gaz

I certainly will not answer on behalf of the Trust, there are people far better qualified than I so to do.
I would point out that whilst MYFC now "own" the club, they do not own the ground. Nor do Ebbsfleet FC.
It is leased from the owners - possibly Land Securities or LaFarge.
I think perhaps it is you who is muddying the waters by bringing in kit sales/Nike etc into the debate. The trust is not a busniness nor makes a profit. It is
worked very well until now, it ain't broke - don't try to fix it.

,,,,,, I am a long time supporter & a myfc member i fully under stand what H GAZ is saying,,how can anyone have a problem with it ??????? unless they are looking at just the

[Hempstead Gaz]

Originally Posted By: Digitalis

Originally Posted By: Hempstead Gaz

I think perhaps it is you who is muddying the waters by bringing in kit sales/Nike etc into the debate. The trust is not a busniness nor makes a profit. It is run by volunteers, any money it makes is held until such time the club/team/supporters benefit.
It has worked very well until now, it ain't broke - don't try to fix it.

Fair enough. I'm not trying to upset anyone, have no hidden agenda and am genuinely concerned about what will happen next season with the Trust.

I'm not a member but if nothing else this has made me think about joining, but when I looked on the Trust site I couldn't really establish exactly what I'd be contributing to.

A potential issue has been highlighted and questions asked. I take the hint (unlike some, if you know what I mean!) and will butt out on this forum.

I have no arguement with you Digitalis, I just am not sure whether the general MYFC membership appreciate the status of the Trust. It has always been a small but important link to thje club, helping raise funds that directly benefit those either watching or playing.
Long may it keep its independance.

[JimGNFC]

Can someone quantify a Substantial amount? Even if the Trust has 25K thats only the equivalent of 1 months running costs for the Club.

 

Personally, I'd rather see the Trust keep the money in a bank account and see how MYFC develops.

 

The Trust was setup to assist the Club but in my opinion the relations between the 2 parties have always appeared a little "strained". This is a shame, when at the end of the day everyone just wants whats best for the Football Club.

 

Oh and just to keep you all on the edge of your seats, heard a rather interesting story about the new stadium development that is tied in with the re-generation of the area. The money available for a new stadium is mind blowing by all accounts.

 

[Harry J Allstars]

Originally Posted By: JimGNFC

Oh and just to keep you all on the edge of your seats, heard a rather interesting story about the new stadium development that is tied in with the re-generation of the area. The money available for a new stadium is mind blowing by all accounts.

Yeah, they're going to use it for concerts and all sorts. It won't just be ours.

I can imagine that we can safely say the stadium will be completed by the 2012 Olympics, provided Multiplex aren't doing it of course, and then we'd move in intime for the 2012-2013 season.

God, I'll be 30!

[David Holden]

Originally Posted By: Digitalis

Until it is clear what the Fleet Trust remit is, and how much the "substantial" amount is, all we are doing is guessing.

The Trust's original aim was to provide funds to the club in exchange for shares.

We have yet to see whether the new board will be happy to continue on that basis, but until that becomes clear, then IMO the Trust is absolutely correct in holding on to it's funds.

[kaizen]

Originally Posted By: Harry J Allstars

I can imagine that we can safely say the stadium will be completed by the 2012 Olympics, provided Multiplex aren't doing it of course, and then we'd move in intime for the 2012-2013 season.

God, I'll be 30!

God, I'll be 55!

[Special K]

Originally Posted By: fleetzone

Originally Posted By: Harry J Allstars

I can imagine that we can safely say the stadium will be completed by the 2012 Olympics, provided Multiplex aren't doing it of course, and then we'd move in intime for the 2012-2013 season.

God, I'll be 30!

God, I'll be 55!

And I'll be 28 so still the right side of 30^^