Shrimpers Trust News Shrimpers Trust AGM

[Shrimper]

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.

You honestly believe that?

 

[palexander]

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

That’s terrifying tbf.

 

[Grayson]

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

In that case, would it be fair to infer that, without the loan, our two home games last week would have been in jeopardy?

 

[RHB]

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.

When the joint statement on Go Fund Me was published my first thought was 'Absolutely brilliant' all the various groups joining together and raising money to help Club employees. 36 hours later and the snipers and point scorers are appearing from all corners.

Like @Joolz, Mrs RHB and I are both trust members and have absolute trust and faith in the Trust Board to act on our behalf when absolutely necessary. It strikes me that this was one of those moments, and making a loan to the Club has no immediate bearing on the Go fund Me exercise.

 

[OldBlueLady]

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.

Doesn't matter how you, Scott or others look at it, non playing staff were in serious predicaments with their own financial commitments. The money was loaned to Tom to help give them some breathing space.

As others have said, the NL doesn't differentiate between playing and non-playing staff so it wouldn't surprise me in the least now this is all out in the open, if a points deduction was incoming. The Trust money has not paid any playing staff wages.

You know, if certain people hadn't encroached on the pitch, let off flares and also persistently committed wilful damage, then the club wouldn't keep having to stump up money to pay fines and whatnot.

The Board of the Shrimpers Trust was called upon to make a decision. The decision was needed quickly, each of us had a chance to have our say and then to vote on it. That vote enabled us to loan Tom the money to TRY to help.

 

[CanveyCastle]

Are there any Insolvency experts on here ?

Would there be any different repercussions if the monies lent were to R Martin as a personal loan or lent to SUFC ltd , if not repaid on time/ at all ?

Could he be bankrupted if it was a personal loan ?

Might it mess up his stadium plans ?

 

[Supa Shrimpa]

Arnold - recovery from Op around 10-12 weeks but they expect him to be playing by the end of the season

Be a number of first team players playing tonight as many need minutes under their belts

Team spirit top draw and its a close knit squad. All get on very well, want to learn, want to improve, want prove themselves at this level and hopefully higher. Cant fault one players attitude even those not getting game time are fully behind those that are

Jack Wood, Ollie Coker and John Benton is particular are ones for the future and they have high hopes for all three. Jack Wood has been unlucky as hasnt had much game time but thats because those ahead of him are playing so well

We are where they hoped we would be but also maybe slightly ahead of schedule. But this is testament to the recruitment and getting the right players, right age, right attitude, mentality etc. Most signings are watched by scouts, JS, SC and all three amigos to ensure that everyone is in agreement. GSM was mentioned in this conversation

Still looking for players but the list is much shorter as doesn't need to be as extensive as it was in the summer

All three take training with Benno on the defensive side, Currie attacking and Kev more when its the larger group

A lot of analysis goes in to each game to help with tactics and planning. All three watch games separately and then come together as a three to discuss before speaking with the team

Couldn't thank the fans enough for their support both home and away but especially away. The players really appreciate it and often talk about how amazing it is. I said to Benno that I thought there maybe around 450-500 at Gateshead and he just said Wow!

Connection between fans and team the best its been in many many years. Fans proud to support a team that fights for the club, the badge, the fans etc and Kev said that another thing that they drill into the players and putting 100% effort in is the bear minimum us fans should expect

Cant use GPS/data vests at the moment as we owe the company that provides them and currently they have switched our system off. Kev said its useful but not essential, but is very helpful especially for those players recovering from injury

No truth in the rumours that Arnold paid for his op and Cardwell's dad paid for his, TL confirmed the club had covered these ops

Training pitches have all been seeded. The first team pitch will be a mix of grass and synthetic and with irrigation, like Arsenal and many prems pitches are. Second pitch will be all grass but higher grade with irrigation. third pitch less quality grade with irrigation and the fourth pitch just a standard grass pitch. But 4th pitch will be torn up at some stage and replaced with a 4g. Apologies if ive got some of that wrong. the training ground is being funding completely separately and therefore has no baring's on the financial running of the club and the money can only be used for that purpose

Dome - TL said they are still hopeful of using this and is showing on the balance sheet at 400K

No intention to sell any players in January, but if silly money is offered we may have to consider but TL said there will be no pressure to sell but if able (no embargo) we would look to add to the squad if the right player becomes available

TL said he was unaware of any intention of the youth team/coaches to strike. Should have been paid Friday but money due in didn't drop until Monday, so they were paid immediately

TL has a tough job as he has to decide who to pay as an when money comes in based on the situation, what they supply and has to prioritise which at times is extremely difficult

I Asked the Trust if the regular zoom calls could be brought back in as thought fans enjoyed those and they said that can certainly be considered

Still complaints about people not receiving ST. TL said he would look into this

I wont comment on the financial stuff other than what i have above as confess that I don't fully understand some of what was discussed. But feel free those that were there to correct anything I've said above

Think thats all

I think you forgot to mention the £40k loan ?

 

[blues exile]

Now on BBC football website about the loans.

 

[Yorkshire Blue]

Something still doesn’t add up here …

The club runs at a £2m loss p/a this equals £167k per month.

Ron puts in £150k a month

Total shortfall £17k / month £204k for the year

How the hell do we owe £1.4m in tax….why are we buying players when we know we are losing money month on month? Why is only £150k put in by Ron and not the full £167k which the budget forecast shows ?if we turnover £7m how does £9m of costs compare to other lg2 / national league sides ? I can’t believe we have a much higher wage bill !

The £2m and £150k won’t be precise figures but rounded up/down so there won’t be a shortfall in the budget TL is working from.

The £1.4m in tax is I believe from the Covid lockdown period when our L1 season was curtailed early and then L2 season played behind closed doors. The government gave businesses more time to pay because of Covid. We then entered into a repayment agreement with HMRC about this time last year, which we then defaulted on a few months ago making it all due immediately. Of course we were struggling to pay players/HMRC before Covid hit too.

 

[TJC]

I trust in the trust. Paul Fitz would have given this careful consideration along with all of the Board. They are all good intelligent guys and gals and know exactly what they are dealing with. It might cost the trust's funds 40k but they are here to save the club. That's what they are trying to do, right?

 

[shrimperjon]

I think you forgot to mention the £40k loan ?

If you read it properly I said that I wouldn’t comment on the financial side of things. It was more around the playing side which I have a better understanding of.

For the record I fully support the trust in loaning the 40k, without it the situation would be even more dire than it is. I’ve left others to comment on the money side

 

[WestyReturns]

Are there any Insolvency experts on here ?

Would there be any different repercussions if the monies lent were to R Martin as a personal loan or lent to SUFC ltd , if not repaid on time/ at all ?

Could he be bankrupted if it was a personal loan ?

Might it mess up his stadium plans ?

I'm sure the Shrimpers Trust would of had the loan personally guaranteed so it would fall on his shoulders if the club were unable to pay.

I'd imagine there would be stipulations to gain control of the club if payments not paid to a certain schedule.

....well that's what I'd expect a sensible scenario would be.

 

[davewebbsbrain]

Maybe microchiped thongs could be a cheaper alternative.....

Load of bollox

 

[Yorkshire Blue]

I trust in the trust. Paul Fitz would have given this careful consideration along with all of the Board. They are all good intelligent guys and gals and know exactly what they are dealing with. It might cost the trust's funds 40k but they are here to save the club. That's what they are trying to do, right?

Think it’s also worth pointing out this isn’t the first time they’ve lent money to the club and it’s been repaid then (albeit in typical Ron style, late).

I’d echo the support of Fitz. As a long time Trust member I’m reassured by his involvement.

 

[davewebbsbrain]

When I click on the link it takes me to the Clarins website.

You couldn't make it up

 

[Holy Joe]

We really need that factchecker I mentioned a few hours ago. Lots of speculation and 'facts' being spouted.

Remember fans have not been asked to pay in twice. The trust funds are exactly that, they're not at the discretion of an individual fan and have been built up over a period of time, weeks, months, years, to be used to 'help not hinder'

The GFM is an individual decision. Funds built up over a matter of hours/days. I don't see how anyone contributing to the GFM has been conned or mislead by the Trust loan.

 

[ColinMorrisWalksOnWater]

For me the subject of our predicament is obviously very, very worrying, and this thread is very welcome, but also confusing at various points:

The fact that Tom has said he has been through this before, as said, probably in his time at Gillingham, is re-assuring and for me personally, I take great heart that he is at the club, cos if he wasn't.............

However, he sounds as if he is unsure of us securing the loan, bridging or otherwise, which is worrying in itself, with regards to HMRC, but we have no intention or pressure to sell players in January, but if here is no embargo, would be looking to add to the squad if the right player became available.

From where we are now, that seems a million miles away, when we are not paying staff, had stock/services withdrawn and the club has gone to the trust needing another loan of £40k, an amount then matched by our sponsors, plus the GFM campaign.

It would be nice to know perhaps, why we have no intention or will not be under any pressure to sell players in Jan, as that's not where it seems we will be at this moment in time. If that is true, what positive is there over the rainbow in the next 6 weeks that gives us that outlook, if the "white charger" loan does not materialise?

As I said, confused at times, I admit I am, but I will wait for the next episode of Southend Soap!

 

[Murkey_Mouse]

The payment was for non playing staffs who worked at the club, as players & coaching teams wages get paid first.

 

[palexander]

Yea it’s massively conflicting messaging. One hand have members of the Trust almost saying the loan was do or die in its urgency.

Tom not sure if we can pay wages in November.

No guarantee on additional funds coming in.

But the Kev saying we don’t need to sell and even talking about “if the right player comes up we would look to do something”

Absolutely madness it really is.

 

[palexander]

The payment was for non playing staffs who worked at the club, as players & coaching teams wages get paid first.

You very sure of that? National League don’t differentiate between which staff not getting paid before unleashing sanctions which sounds like why the Trust tried to word the loan a certain way

If we you say is true sounds like we’d be in bother.