Chester - top of the table & losing big money?

[FleetFanatic]

Taken from confguide

[jc]

Just beat me to it Daz - surely there will have to be an investigation into whether Chester are complying with the Conference's wage-capping rules?

[FleetFanatic]

PROMOTION AT ALL COSTS

 

 

DAVE BURFORD today revealed the extent of Chester City’s losses.

 

The club’s general manager confirmed that Chester chairman, Stephen Vaughan, had written an article detailing the club’s financial deficit in Saturday’s match programme.

Burford said: “Stephen Vaughan has written about the dangers of complacency and the importance of success in his programme notes. “Stephen is keen to see Chester win this season’s FA Trophy and clinch promotion back into the Football League. “Prize money in the FA Trophy can result in £200,000 after television cash and gate receipts. “Many people think football and business are two very different things, but football is a business. “It’s vitally important that we win Saturday’s FA Trophy tie against Halifax and go on to win the title because of the finance at stake.”

 

Vaughan confirms in Saturday’s match programme that Chester are operating with average monthly trading losses of £65,000. He said: “Our success during the festive period has been down to a true team effort. But we can’t afford to become complacent and we must remain positive and focussed on the big job we still have to do. Our fans have a huge part to play in supporting our hoped-for success. Our home attendances over Christmas averaged more than 2,800, with 1,700 travelling to Leigh RMI on New Year’s Day.

“I am aware that some people have been critical about the club leaving admission prices the same as our league fixtures for Saturday’s match, and for that reason they may decide to stay away, along with those who feel that the competition is not important enough to support.

 

Vaughan adds: “But the facts are very simple – a good cup run is vital to this club. A successful campaign which includes victory in the FA Trophy could earn us revenue in the region of £200,000. I can’t consider that sort of money insignificant, and that kind of revenue is critical to Chester City Football Club. Despite Vaughan Trading’s £2.3 million investment to date, the club still operates with average monthly trading losses of £65,000 on its total trading turnover, which Vaughan Trading has to underwrite on an on-going basis. This is a huge deficit and reducing the losses is essential for the long-term stability and future of the club.

“Our financial losses are too high and we have to act collectively now. The easy option would be to cut expenditure and settle for mid-table mediocrity, but to give our manager the best chance of challenging for promotion money is the key. Every additional fan that comes through the turnstiles makes a difference. Our supporters’ continued backing in numbers is vital. We know we can fill the Deva Stadium as recent big fixtures have shown. I just hope everybody in the area stays with us in what we all hope will be an historic season for the club.”

 

City will take on Halifax in Saturday’s match without left-sided midfielder, Kevin McIntyre, who serves the second of his two-match suspensions. Chester reserves beat Chorley 5-1 in their Lancashire League match at Flint Town United’s ground last night.

[FleetFanatic]

I suppose all the cash investments from the chairman are classed as sponsorship & therefore income?

[FleetFanatic]

Mind you - if you read THIS & believe it then you might just wonder where all the money is going at that club.

 

Obviously Wright must be 'stretching' the truth a little?

[Wobbly Wayne rides again]

To be honest , I was suprised how small their squad was.

They only had 19 players registered on Saturdays programme , compared to our 27'ish. But then again I would imagine all 19 of theirs are on a good whack, and thats before Wrighty and his management team get their wages.

 

 

Up the part timers

[jc]

"The easy option would be to cut expenditure and settle for mid-table mediocrity, but to give our manager the best chance of challenging for promotion money is the key."

 

This is the quote from Vaughan that must concern Chester fans the most. It's the sort of attitude that has landed Leeds in so much trouble this season.

[FleetFanatic]

I can't helping feeling that the playing field, which is already not level, is being made worse by certain clubs breaking the rules?

[Hempstead Gaz]

This also makes one grateful that we have astute businessmen such as Brian,Glen and Andy as the brains trust at the Fleet. The first two would never let any manager spend what the club hasn't got or cannot afford, and in Andy we have not only a top manager, but as a small businessman himself he knows that keep within budget.

We now know why Chester rate us so poorly, trying our hardest to stop them winning the league and stopping their lucrative cup run. Ha, ha, ha.

With a set up like they have, they deserve to go the same way as Leeds Utd.

[American FLEET FAN No1]

Seem to remember the Fleet getting into the same predicament in the Easterby era, good football but naff finacial management. Thank god the Ship has steadied under this Directorship.

[jc]

So, after budgeting on an FA Trophy run, Chester were knocked out today 2-1 by Halifax. Looks like their financial concerns are only going to get worse after their result today.

[FleetFanatic]

Yippee - now where are the auditors?????

[Paulo GNFC]

Damn... saved us knocking 'em out in the next round anyway. :smirk

That's if the team turn up for the WSM replay of course.

[jc]

In Sunday's NLP, the Chester chairman claimed that the club aren't signing any new contracts with players at the moment owing to the new budgeting rules. So perhaps contracts signed before the rules were introduced are exempt? Or maybe Chester really will be in trouble - two instances of breaking the rules equals expulsion from the Conference, apparently.

[David Holden]

Errr what about Stamp then.

 

Playing for peanuts is he?

 

Existing contracts do count.

[FleetFanatic]

I think Chester will not be found guilty of any wrong.

 

The money from the chairman is obviously in the name of his company.

 

The question is - is that money in the form of loans to be called in if he ever left Chester?