Our system detected that your browser is blocking advertisements on our site. Please help support Fans Focus by disabling any kind of ad blocker while browsing this site. Thank you.
Jump to content

MYFC Members Financial Information

alholmes

By alholmes
in Ebbsfleet United Forum

 Share

Recommended Posts

alholmes Newbie

alholmes

Posted
Posted

I am a MYFC member. I apologise in advance about the length of this post...

 

There seems to be a number of people concerned about the financial aspects of the takeover. Unfortunatly throughout this process we members have been kept very much in the dark. At no point have member numbers or financial details been made available to us and we will not get full details of the takeover until the due dilligence has been completed on the purchase which is expexted to take a few weeks. The only information we have received on the takeover is pasted below which was released to the members yesterday morning:

 

MyFootballClub has agreed a deal in principle to purchase a controlling stake in Ebbsfleet United FC. Placed 9th in the Conference, Ebbsfleet United FC is one promotion from reaching the Football League for the first time in its history.

 

MyFootballClub members will also have the option to buy 100% of the football club in the future for a fixed price.

 

Funds will be made available to Liam Daish during the January transfer window to help the club push towards the play-off places.

 

As part of the deal, the current Board will continue their roles at the club as non-executives after the date of takeover, and club staff (including the manager) will also stay on.

 

The football club selection process

Some of the top 15 clubs chosen by members were ruled out because they didn’t fulfil our criteria, for example high levels of debt. In all, MyFootballClub was approached by nine football club owners, and we approached several others. Getting to know one club and meeting the personalities involved is a process that can take several weeks. In three months, we took a close look at seven clubs. Confidentiality means we cannot disclose details of any of these discussions.

 

Of the seven football clubs considered, the MyFootballClub team believes that Ebbsfleet United FC presents a unique opportunity. Here is some background to the deal and the football club:

 

Price

We have been able to structure a deal so that the up front payment is relatively small (to allow investment in the squad), with a further staged payment due 12 months after takeover. The club will also have a small amount of debt, which will need to be repaid or refinanced 3 years after takeover.

 

Only when due diligence is complete can further details be released.

 

Current Directors and club staff

For continuity, all club staff will remain. Directors will become non-executive Directors and will continue their roles at the club.

 

The manager

Liam Daish’s title will change from Manager to Head Coach, in recognition of the unique role he will perform. Liam’s backroom staff, including assistant Alan Kimble, will remain.

 

Division

Playing in the Conference National, MyFootballClub members across the UK will have the opportunity of going to watch Ebbsfleet United matches close to home. This would not have been the case with a club in a regional division.

 

Promotion to the Football League is one of the great prizes in English football, and the Conference also has a Wembley play-off final. The division enjoys a similar amount of TV and press coverage as Division Two.

 

History

Ebbsfleet United FC is a new name, but its roots can be traced back Gravesend United FC (formed in 1893) and Northfleet United FC (formed in 1890). These two clubs merged in 1946 to become Gravesend & Northfleet FC. In May 2007, the football club changed its name to Ebbsfleet United FC.

 

Ground

Stonebridge Road was built in 1946 and has a capacity of 5,248 of which approximately 4,000 is standing. The club has a 17-year lease to play there the with a peppercorn rent. Plans are ongoing to build and move to a new stadium in the vicinity.

 

So as well as offering something for the traditionalist, there is also the prospect of a new stadium in future.

 

Club sponsor

Eurostar is the club’s main sponsor. The club is in the first season of a three-year deal. The club will receive monies in year two and three.

 

Location and transport

Ebbsfleet United FC is in northwest Kent and enjoys good transport links. By car it is junction 2 on the M25. And Northfleet station (a 5 minute walk to the ground) is 55 minutes from Charing Cross, London. Gravesend Station is also near by. And it is a 40 minute drive from Gatwick Airport.

 

 

Ebbsfleet International Station, on the Eurostar line, opens on 19 November. It's approximately 500m from the Stonebridge Road. In December 2009, a high speed 15-minute domestic service from St Pancras will be added.

 

Local area

The new £100m Ebbsfleet International Station with its 15-minute journey time to St Pancras will make the area extremely desirable for commuters and businesses. To provide for Ebbsfleet’s growing population, plans are in place for 3000 residential units, 2,190 acres of new parks and open spaces and 4.5 million sq ft of commercial property, which will create around 20,000 new jobs.

 

 

Commenting on the deal in principle between EUFC and MyFootballClub:

 

Liam Daish, Ebbsfleet United manager: “Everyone has worked wonders to get this club to in the top half of the Conference. We all agree the club needs something extra to take it to the next step.

 

As a football fan, I think the MyFootballClub idea is fantastic. And as the coach, I look forward to the challenge of working with thousands of members to produce a winning team. Alan Kimble and myself are 100% committed to making this work.”

 

Jessica McQueen, Ebbsfleet United supporters' representative: “Also being a Trust, our members understand the MyFootballClub concept immediately. We very much look forward to working with the MyFootbcallClub members for the benefit Ebbsfleet United.”

 

 

Jason Botley, Ebbsfleet United Chairman: “The Board, Liam Daish and his coaching staff, club employees and myself are united in believing this is a great opportunity for Ebbsfleet United. This extra finance and support will enable our club to progress.”

 

 

Brian Kilcullen, Ebbsfleet United Director: “This partnership will also allow us to concentrate on driving the club forward in other areas, such as working on the new stadium development.”

 

Will Brooks, MyFootballClub: “Nine football clubs approached MyFootballClub and we believe that Ebbsfleet United is the perfect choice. We hope that MyFootballClub members and Ebbsfleet United supporters will join forces and make the football club more sustainable and successful.”

 

 

Dan Jones, Partner at Deloitte and Editor of the Annual Review of Football Finance: “The MyFootballClub ownership model is an innovative way of funding a lower league club. Reports of having raised over £700,000 in 11 weeks suggests it is viable too. The Sports Business Group at Deloitte has been following its progress with interest, and we're now looking forward to offering our experience in football finance to assist with advice and guidance during the due

diligence process.”

 

 

Further Quotes from Liam Daish: “Picking elevens and formations isn’t a precise science, and luck often plays its part. I believe a strong dressing room and 11 who want to perform are just as important. And I’ll continue to make sure that happens.

 

“During and after matches, Ebbsfleet supporters often give me their opinion on which players should or shouldn’t start games. Now they can have their say.”

 

“My job won’t change that much. As a club, we’ll select an eleven and formation together. But just as before, what goes on at the training ground, in the dressing room on matchday is down to me.”

 

“It’s the supporters money that will finances this club. Pays my and the players’ wages. So there’s a good argument for them having a say in what players they want to see.”

 

 

 

 

This is all members have received from the powers that be, there is beleived to be a purchase fund of approx £700K. After some research by members the debt is beleived to be approx £300-£400K. In honesty i beleive the members are just as frustrated as ebbsfleet fans must be at the lack of details but hopefully this helps.

 

 

I live up in york and due to a 600 mile round trip it is going to be difficult to get to Ebbsfleets home games but i hope to make it to 5 or 6 a year and look forward to mmeting everybody. I will be attending the away games at York and Halifax in March. I was secretly hoping York would be the chosen club as i personally think the extra revenues and higher profile could only be a good thing for my local club (who i do go to watch 10/15 times a season - even if it is so bloody cold on yorks terraces)

 

Anyway i hope that sheds some light on what we know regading the takeover.

Link to comment
Share on other sites
David Holden Newbie

David Holden

Posted
Posted

Quote:
Ground

Stonebridge Road was built in 1946 and has a capacity of 5,248 of which approximately 4,000 is standing. The club has a 17-year lease to play there the with a peppercorn rent. Plans are ongoing to build and move to a new stadium in the vicinity.

 

 

Really? I thought we celebrated 100 years of football at Stonebridge Road back in 2005.

Link to comment
Share on other sites
George Reilly's Hairpiece Newbie

George Reilly's Hairpiece

Posted
Posted
Originally Posted By: American FLEET FAN No1
Has anybody else noticed, how all of a sudden quite a few of these Myfc members appear to be Financial/and or/ Legal wizards?
There answers are so precise and factual!
Or is this just some new cults dogma!
Be glad Fleet fans, your club is in safe hands!


They've obviously got their finger on the pulse when it comes to knowing what it takes to run a football club. After all, this is the collective that decided it was viable to buy Man Utd, Arsenal or Liverpool. crazy No need to worry about spending all that extra cash wisely then.


Good to see that if has now been fixed, if I can use that word, so that Ebsfleet are now the No 1 target.
Link to comment
Share on other sites
PatMan Newbie

PatMan

Posted
Posted
Originally Posted By: American FLEET FAN No1
Has anybody else noticed, how all of a sudden quite a few of these Myfc members appear to be Financial/and or/ Legal wizards?
There answers are so precise and factual!
Or is this just some new cults dogma!
Be glad Fleet fans, your club is in safe hands!


In the land of the Internet warrior - the cut 'n' paste expert is king!
Link to comment
Share on other sites
alholmes Newbie

alholmes

Posted
  • Author
Posted
Originally Posted By: American FLEET FAN No1
Has anybody else noticed, how all of a sudden quite a few of these Myfc members appear to be Financial/and or/ Legal wizards?
There answers are so precise and factual!
Or is this just some new cults dogma!
Be glad Fleet fans, your club is in safe hands!


In all fairness at no point did i intend to make out that i was. I am no computor geek and i do not own copies of champ manager or any other football game.

I do not want to pick the team and feel it should be left to the coach as do alot of members but it will be good to make a difference by supporting a team that i cannot make at another club.

I cannot see this working as some people think. We will probably have input on budgets for transfers, wages and things like stadium development but members who think we will pick who plays in which position and if we should sign player x and how much we should pay player x are rather deluded.

Yes i am a 'NEW' fan but i hope my little bit of money and vocal support when possible will only help the team.

i appreciate there are some members who are idiots but i genuinly think that the vast majority or members have realistic expectations and will only want what is best for ebbsfleet over the long term.
Link to comment
Share on other sites
EUFC FAN Newbie

EUFC FAN

Posted
Posted

Odd. When Liam was interviewed on the 10 o'clock news I got a impression that he was cooling off the idea. I hope I am wrong, but I can see Liam thinking "I want to be a manager, not the bloke who takes training a couple ot time a week...I am off". Closely followed by the players, who thought they were playing for a professional full time football club. Not a Micky Mouse club run by 20,000 computer nerds!!!

Link to comment
Share on other sites
alholmes Newbie

alholmes

Posted
  • Author
Posted

make that 19998

 

it must be bad for the existing staff, especially the playing staff

 

takeovers are never easy but when it is effectivly a faceless trust of 20,000 it must be awful

 

i really liam daish from his coventry days and think he has the potential to go really far, it would be a disaster for MYFC to alienate him

Link to comment
Share on other sites
rsheard Newbie

rsheard

Posted
Posted
Originally Posted By: American FLEET FAN No1
Has anybody else noticed, how all of a sudden quite a few of these Myfc members appear to be Financial/and or/ Legal wizards?
There answers are so precise and factual!
Or is this just some new cults dogma!
Be glad Fleet fans, your club is in safe hands!


AFF, not wizards at all. That was simply a cut-and-paste of the announcement sent to all of us. His point was that it is all MyFC members know as well about the deal's fine points.
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
 Share
Go to topic listing

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...