Questions to be asked at meeting

[Yellow Bungle]

Before the meeting we should draw up a list of questions that need to be asked, both of the existing management and any fans who are interested in savings the club.

 

I propose we use this thread to get all of these questions together in one place.

 

Key things we need to know are :

 

1. What is the current ownership structure?

 

2. Are the current owners prepared to sell the club, and if so how much?

 

3. How would any sale/transfer be structure? would it be through a purchase of shares in the existing company?

 

4. What liabilities does the company/club currently have? Owners loand, bank loans, tax, PAYE, local businesses, players contracts etc?

 

5. Would the existing owners cover such debt and warrant against contingent liabilities? eg undeclared tax, insurance &/or legal claims?

 

6. Is it possible to avoid administration until the end of the season or do the new owners accept the 10 point penalty with a view that relegation to FCS is a better option than dropping 3 levels.

 

7. What are the terms of current sponsorship deals? Will the Kings/Thorney Bay deals lapse? Were they fairly negotiated?

 

8. If ownership changes and allows supporter involvement, what is the best structure?

 

9. How can this be co-ordinated to allow the smoothest transition for the club?

 

10. Who will make the tough decisions that will need to be made? Reviewing budgets, terminating contracts, considering administration or possibly liquidation and reformation?

 

11. How will this person be appointed and what will legitimise his power and mandate?

 

12. What is our position in respect of our tenure at Park Lane?

 

13. How can we effectively raise sufficient funds to ensure that Canvey Island FC continues to exist?

 

Just some thoughts... please feel free to add to them, or if you have any answers/suggestions to post them. As supporters we need to organise quickly, and I suppose that the Supporters' Club is the vehicle through which our initial effort should be directed until a Trust can be constituted.

[ken]

what attempts were made to find additional funding from an alternative source, who and when were they contacted.

[ronin]

Quote:

Yellow Bungle said:
Before the meeting we should draw up a list of questions that need to be asked, both of the existing management and any fans who are interested in savings the club.

Not sure who will be taking the meeting but unless it`s Jeff i think you can expect a lot of "i don`t know the answer to that" to a lot of those questions.

[Ribbit]

I'd've thought Jeff'd be there.

[eggy]

I doubt Jeff will be there..

 

He has now stated what his intentions are with regards to his future involvement with CIFC

[Ribbit]

Yeah, so who will the meeting be with? Someone's got to clear this mess up by telling us exactly what is happening and how we need to conduct our plans.

[Yellow Bungle]

"I don't know the answer" is not an acceptable response to some of the above questions, particularly given the urgency of the subject. If answers can't be given there and then, that's fine, but the questions MUST be asked and responded to quickly. Any potential investor is going to want to know the answers, so unless there is a backer in the wings who is in negotiations I see no reason to withhold this information.

[Matt H]

I speculate that the meeting will involve our Chairman and a representative for Jeff/Kings if he's not there in person.

[Ribbit]

The main thing is is that there is someone there who can answer any questions that we throw at them.

[ronin]

Quote:

Yellow Bungle said:
"I don't know the answer" is not an acceptable response to some of the above questions, particularly given the urgency of the subject. If answers can't be given there and then, that's fine, but the questions MUST be asked and responded to quickly. Any potential investor is going to want to know the answers, so unless there is a backer in the wings who is in negotiations I see no reason to withhold this information.

I agree but as we all know Jeff runs the whole thing at CIFC and he is the only one able to answer a lot of those questions.

As for any potential investors i think they would have to show themselves and deal directly with Jeff.

[eggy]

there are a number of sensible and educated officials at the club that help out throughout the season, so im sure they are heavily envolved right now to ensure there is a clearer picture ready to go through with all supporters on Friday..

 

Im sure there is already a plan off attack being thought about as we speak

[A Non E Mouse]

Jeff King (+ family) have withdrawn their financial support.

 

Jeff has confirmed that he will not just up and run but hand the club over as best he can. I trust Jeff will be at the meeting on Thursday and will answer as many questions as he can. As YB says it's worth compiling a list - as these aren't your general "footy fan" questions - these are more business related.

 

I'm sure the clubs accountants will have financial details etc. and will provide these once they are aware "who" is acting on behalf of the club.

 

I would also assume that the "other" board members and not just Jeff will have answers - Jeff wasn't on his own. My concern is do the otehr memebers of the board still have the fire in their bellys to continue?

 

At the end of the day I don't feel Jeff will continue as manager but will advise the club on his thoughts - I presume this will allow him to continue with his business interests and potentail other footballing challenges away from CIFC.

[sidney]

1st question should be:

 

Will you confirm that you are going to Chelmsford?

[Ribbit]

First question should be; when is sidney going to drop the subject?

[Matt H]

Questions about Chelmsford should be last on the agenda. What goes on at Chelmsford has nothing to do with the future running CIFC.

[Ribbit]

Should be a sidenote.

[pabird]

Quote:

Matt CIFC said:
Questions about Chelmsford should be last on the agenda. What goes on at Chelmsford has nothing to do with the future running CIFC.

Not for me to be involved but there should be no questions or interest in Chelmsford City, You are simply only interested in CIFC and leave Jeff and his future to Jeff.
There can be little doubt that Jeff has poured many thousands into CIFC and you will get best possible cooperation from him by simply wishing him well in the future and focusing on your needs for CIFC.
Wish you well, good luck for the changing future.

[CanveyLad0]

well said it dont matter where jeff is off to all that matters is that he is, and we need to focus on staying in the conference and taking the club forward jeff has taken us this far its up to us to take it further!

[ken]

i think it does matter, if he is dropping out of canvey and going to another club then it makes us wonder the real reasons for his leaving.

[ronin]

Ken i think the reason for him leaving are clear, people from the local area were not backing the club.