Shrimpers Trust News Shrimpers Trust AGM

[TrueBlue]

An email was sent to members simultaneously with the release of the press release. It was already announced at the AGM yesterday formally prior to this, so yes.

So 1 day ago… really ?!

 

[jphfitz]

So 1 day ago… really ?!

Chris was at the AGM. So yes, really!

 

[TrueBlue]

Chris was at the AGM. So yes, really!

And what when was it agreed and lent?

 

[palexander]

Literally don't know how you want that answered. Have you read the Trust's statement?

Was asked to lend the club money, like anyone would ask a bank. We did. Wasn't used for player wages. Paid for other stuff (I don't have an itemised list) to keep a professional football club running. Will be paid back in three months. Now reported by the Echo. Statement issued. Trust Board members (who are all volunteers) alongside other Supporters Groups (again, all volunteers) to raise money to aid the back office staff as it seems they all haven't been paid all their wages.

End of post.

Its not though is it? Isnt it all relative.

The club cannot afford to meet its payments.

Needed to ask supporters group for 40k to basically keep running.

Seems to be a choice now of paying other liabilities, or paying the players?

By the club getting 40k in its allowed money I presume was appropriated to be used elsewhere, to be used on wages.

@jphfitz do you know the consequence of the Trust NOT loaning that money? Sounds like from what you've said, it being a matter of "urgency" so were the club toast without it? Were the players going to not get paid without it?

 

[palexander]

Would this even be known if the Echo had not revealed it?

"Transparency"

 

[Westcliff Shrimper]

Its not though is it? Isnt it all relative.

The club cannot afford to meet its payments.

Needed to ask supporters group for 40k to basically keep running.

Seems to be a choice now of paying other liabilities, or paying the players?

By the club getting 40k in its allowed money I presume was appropriated to be used elsewhere, to be used on wages.

@jphfitz do you know the consequence of the Trust NOT loaning that money? Sounds like from what you've said, it being a matter of "urgency" so were the club toast without it? Were the players going to not get paid without it?

When the loan was made, the players had already been paid.

 

[hlane17]

Would have liked to see the members balloted on such a huge amount this could have been done easily within a week.

Agreed.

 

[palexander]

When the loan was made, the players had already been paid.

Ok, but again, can we assume from funds earmarked for other things? Hence the need for a loan?

Players/Staff are always or should be the first people that get any incoming money in a company, then from what I remember, tax, then anyone else shouting. So if the salaries are ringfenced, why (if the rumours are true) some players defaulting on wages, some staff still waiting for money and the youth set up not getting paid despite external funds coming in for that from EFL(?).

So we can't afford the wages anyways. I cant see how you cant think any of that 40k - helping the club keep the lights on as its been put - doesnt somehow trickle into player/staff salaries.

 

[Supa Shrimpa]

Following on from @jpssufc

The Trust was asked by Tom to loan monies to the club and we did so. Had to be careful that no one said it was for player salaries as that would mean a sanction of some sort from the NL. As far as we agreed, it was for general working capital expenses including non-player salaries; not to pay the players, but again, had to be careful regarding potential sanctions.

This is all now a moot point as the Echo have now reported it hence the reason why the Trust have now made a statement.

A loan agreement between the Club and the Trust has been signed by both parties.

So when were the Trust intending to tell their members, then ?

 

[jphfitz]

So when were the Trust intending to tell their members, then ?

At the AGM, members found out before anyone else yesterday.

 

[palexander]

At the AGM, members found out before anyone else yesterday.

Was it not viable to announce the plans and hold the vote in person yesterday with some members? May have attracted a wider selection of members if they had a chance to vote on something that important.

TBF, I hope the final vote would have been "Yes" (if the alternative is unthinkable) but could have got some more questions asked of Tom to clarify whats going on.

 

[TrueBlue]

At the AGM, members found out before anyone else yesterday.

And why not at the time of the loan? And why not before the go fund me ?

 

[blues exile]

Was the £40k paid into the same account that the players' salaries are paid from?

This is a crucial question.

 

[palexander]

This is a crucial question.

One I doubt we'll get an honest answer to from anyone given the implications it would lead to.

 

[blues exile]

One I doubt we'll get an honest answer to from anyone given the implications it would lead to.

Transparency, often spoke of but seldom seen

 

[palexander]

Transparency, often spoke of but seldom seen

Its all Stans fault though

 

[hlane17]

The only reason I can see this amount of money being sent without ballot is because the situation really is that dire. I sincerely hope not.

In general I really support the Trust (hence why I'm a member) but I'm really unsure about the latest loan developments.

 

[TrueBlue]

Transparency, often spoke of but seldom seen

Cant stress how important it is when working together

 

[Joolz]

In the interests of balance, I’m all for the Trust Board making decisions like this on the members behalf (of which I’m one) - it is why we have a board after all, and I for one trust their judgement.

 

[OldBlueLady]

Would have liked to see the members balloted on such a huge amount this could have been done easily within a week.

We didn't have a week, Scott. If we had had the luxury of a week then we probably would have done.