Club Statement

[morecambegeek]

They would acquire not only a football club but a weddings/banqueting business with circa £1 million turnover.

£1 million turnover which is losing how much per year?

[Gone_Shrimping]

They would acquire not only a football club but a weddings/banqueting business with circa £1 million turnover.

£1 million turnover which is losing how much per year?

Without seeing detailed management accounts that we the general public don't see then impossible to tell. It should be able to be profitable under maybe better management.

[mrpotatohead]

Babara's wool could be back in the running, she could pull it over Peters eyes no bother

[KenH]

£1 million turnover which is losing how much per year?

Turnover is vanity, profit is sanity. I'd be surprised if the function rooms turned much of a profit, if any.

Rather than someone buying the club and using the potential profits of the function rooms, why don't the Board lease out the function rooms and bar to some kind of management firm, so the club would get a regular rent without having to worry about staffing, marketing, etc. Let's slim down the existing structure and concentrate on the football without all the off-pitch distractions which, as has been shown, we're no good at!

[Christies Child]

Babara's wool could be back in the running, she could pull it over Peters eyes no bother

Time to give this character assination of Pmcg a rest now. You said before we should be at one. Time we all pulled together to save our club eh

[KenH]

Time we all pulled together to save our club eh

Indeed, our thoughts and feelings about past mistakes etc need to be parked aside for the time being. There is a time and place to learn from, and deal with, the well discussed mistakes on and off the pitch. In the here and now, we all need to be 100% behind Jim, PMG, the whole board (and even MD ), all the staff and players - they're the team that can get the club through this dark period. Realistically, given the urgency and seriousness of the situation, PMG is our best hope to get us through this. Let's hope that the Board can persuade Nigel Adams to come back on board too and that his resignation is only temporarily until the Diego position is resolved.

[mrpotatohead]

who is this character called ''assination'' CC, a new foreign buyer

[Gone_Shrimping]

I would like to think that finding a ground sponsor to replace "Globe" would be high on the board's list of things to do.

It will have been made harder by the latest bad publicity and this will be reflected in the income that can be derived from it.

Have the club tried "Sealink" as was suggested on SV a few weeks back ?

[MfcChris]

I might be naive but I think the new owners had good intentions but it hasn't worked out for some reason. I don't believe they would buy a football club for a joke or to bankrupt us and create so much mess.

[reynolds]

Not 100% sure on the fixtures but Accy at home is at the end of January. Providing we last that long, could be a good opportunity to get as many down as possible and gives the club a good month of planning any offers or collections.

and I'm fairly sure we could muster some flag wavers to march with you should any kind of protest be in order.

As football fans we love to gloat over other club's misfortunes, but you have to be deadly rivals to laugh when things are going really wrong.

We've cheered for each other during promotion charges and we'd march with you in solidarity.

Stanley fans welcome!

If we are to have a rallying call to local fans, it has to be Crewe on the 2nd. Be great to get a decent crowd and a proper atmosphere

Hopefully if Crewe is a high gate and all goes well, the part-timers may finally realise how much this club means to a lot of people. The second half of the season could be all that's left to save our club so we need to make the most of every game, so no problems with away supporters getting involved. COYS!

[P/T Indie]

So he resigned as director on the 25th Nov but didn't tell anyon as the club only found out yesterday prob via the same means as we did.

[Christies Child]

A very welcome and much appreciated Statement from our Board.

Could this be the start of a new era in our relationship with the Board where collectively we work together to achieve what is best for our truly family club. Only by closing the chapter on this unfortunate episode and starting a fresh will we collectively deliver success both on and off the field,

Very early days to build bridges but there is goodwill on both parties so we can do this.

[nobbyshrimp]

I am baffled and don't quite believe that the banqueting suites are loosing money. They should be the biggest part of a football clubs income and profit but obviously the overall collective income might be in debt BUT I still believe having worked in the industry and knowing of at least 1 other lower league club which makes a profit through its banqueting suite of close on a million each season that ours makes a profit! Our club seems to be split up too much though and has far too many owners of different bits so what we see as profit or debt in one bit might not be in the same pot as another bit. It's been made very complicated

[mrpotatohead]

They had no choice but to have this meeting and release a statement Neil, a ''co chairman'' and a vice chairman, both left, PMG is presumably back because he hasn't been paid, this is not about building bridges with the fans, it's damage limitation, if Peter got his next installment on time we would be in the same state as last week, and still might be.

[Gone_Shrimping]

So he resigned as director on the 25th Nov but didn't tell anyon as the club only found out yesterday prob via the same means as we did.

He resigned 21 December according to the Companies House form.

Would Nigel have resigned if he had known that Abdul was about to resign ? Not sure.

[Gone_Shrimping]

£1 million turnover which is losing how much per year?

Turnover is vanity, profit is sanity. I'd be surprised if the function rooms turned much of a profit, if any.

Rather than someone buying the club and using the potential profits of the function rooms, why don't the Board lease out the function rooms and bar to some kind of management firm, so the club would get a regular rent without having to worry about staffing, marketing, etc. Let's slim down the existing structure and concentrate on the football without all the off-pitch distractions which, as has been shown, we're no good at!

We had the saying about turnover and profit on our office wall 20 years ago.

If it was leased out , how would that work when we sell out all the hospitality like for Blackpool , Carlisle etc. The club would surely get peanuts. It needs running properly like Shrewsbury Town and it will make a decent profit.

One of the reasons for moving from Christie was to increase revenue. Well it has increased by around £1million. But the losses at Christie Park were nearer to £200k and that was with a much bigger "Sammy McIlroy" playing budget. Now we have a much smaller playing budget and losses of £700 to £800k ! A forensic accountant would have a field day going through the books.

[KenH]

I am baffled and don't quite believe that the banqueting suites are loosing money.

No-one outside the Board will know for sure. But having been involved in the accounts preparation of a couple of local hotels, (when I worked in local accountancy practices), well known for their function rooms for parties, weddings, etc., they aren't a goldmine. For the ones I know about, the annual "profits" were in the tens of thousands rather than hundreds of thousands. Yes, they generate a lot of cash, but have fairly hefty "hidden" overheads which massively dilute the profits, such as the staffing - not just the kitchen/waiting staff, but also the backroom administration, marketing, etc. Then the overheads are high in terms of business rates, water rates, power, insurance, equipment, fixtures & fittings etc, and also financing costs in terms of bank and credit card charges (cash is very expensive to bank), bad debts, etc.

As for MFC, we're paying reception staff and marketing staff/manager which we simply wouldn't need otherwise, so that's maybe £100k or more per year, of costs straight off the income generated. The most popular day for weddings etc is Saturdays, so we also lose the potential for 9/10 months worth of Saturday wedding books as the W&L needs to be free for potential Sat afternoon games. Yes, there are training sessions etc there during the week, but not every day - I regularly attend training at PNE's ground and nearly every time our training has been in one of their rooms, there are also events in the other big room too - bigger city, more firms holding training events.

For it to turn a big profit in the hundreds of thousands, it needs training/meetings every work day, and evening functions at least 2 or 3 times a week throughout the year, and for the W&L and boxes to be full every match day. Even a million per year "turnover" wouldn't generate more than £100k per year of profit after all costs/overheads.

[KenH]

If it was leased out , how would that work when we sell out all the hospitality like for Blackpool , Carlisle etc. The club would surely get peanuts. It needs running properly like Shrewsbury Town and it will make a decent profit.

Simple. If MFC sell the tickets through the club shop, i.e. seat and meal, they pay the leaseholder for the meal element and keep the money for the seat. If the leaseholder sells the tickets through their website or sales channels, they keep the meal money and pay MFC for the seat. Just a matter of agreement between the leaseholder and MFC as to the breakdown of the overall cost between each separate component and agreement of sales prices. It's a very common business model.

[steve mfc]

Not 100% sure on the fixtures but Accy at home is at the end of January. Providing we last that long, could be a good opportunity to get as many down as possible and gives the club a good month of planning any offers or collections.

and I'm fairly sure we could muster some flag wavers to march with you should any kind of protest be in order.

As football fans we love to gloat over other club's misfortunes, but you have to be deadly rivals to laugh when things are going really wrong.

We've cheered for each other during promotion charges and we'd march with you in solidarity.

From the Accy forum.

maccawozzagod
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Re: Morecambe

If t'adminstrators are in then we need to be having a peep to see who we can get on the cheap.
st06nc2 likes this.
__________________

Solidarity didn't last very long
 

[mrpotatohead]

we have a fan who gloats on here if they have any misfortune , but goes on the accy site, arselicking, no pizes for guessing who

[steve mfc]

we have a fan who gloats on here if they have any misfortune , but goes on the accy site, arselicking, no pizes for guessing who

Yep you don't need a crystal ball to work that one out

[marky No.1]

no pizes for guessing who

Could have just munched on a chicken, ham & leek

[Posh]

If it was leased out , how would that work when we sell out all the hospitality like for Blackpool , Carlisle etc. The club would surely get peanuts. It needs running properly like Shrewsbury Town and it will make a decent profit.

Simple. If MFC sell the tickets through the club shop, i.e. seat and meal, they pay the leaseholder for the meal element and keep the money for the seat. If the leaseholder sells the tickets through their website or sales channels, they keep the meal money and pay MFC for the seat. Just a matter of agreement between the leaseholder and MFC as to the breakdown of the overall cost between each separate component and agreement of sales prices. It's a very common business model.

I agree with Ken. Two people I know run similar arrangements for Chelsea where they organise travel, accommodation, food and match tickets for overseas supporters. They get allocated 100 tickets and dining places a game. If they can't sell them the tickets are returned to the club. Outsourcing is a simple way to work.

I also agree on the revenue streams. MFC aimed for three outside match days - functions and meeting space; a gym; and 3G football pitches. Easy to say in hindsight, although there was plenty of other clubs to look at but these were the wrong options and the now discussed hotel and office space would have been eminently better. Leasehold agreements would have meant regular income streams and more solid finances. The other decision was to run non-football activities ourselves. Again, in hindsight, the wrong decision. Someone else designing and running the Globe Bar and Grill would certainly have made a better fist of it and a gym operator of the gym.

[mrpotatohead]

I personally find it ''odd'' that a highly successful businessman like our former owner, with a group of savvy colleagues on the board , can preside over these failing businesses under the Globe ''umbrella'' for several years without drastically changing how they operate.

The thing I also find odd is the fact that this ''Diego'' , would actually want to buy the loss making 'PMG Leisure ltd'' as well as the club, knowing it was losing money year in, year out, and probably already heading for administration before he came on the scene.

[KenH]

I personally find it ''odd'' that a highly successful businessman like our former owner, with a group of savvy colleagues on the board , can preside over these failing businesses under the Globe ''umbrella'' for several years without drastically changing how they operate.

It depends on the "type" of businessmen. Are any of them true entreprenneurs in the mould of Sugar, Branson, etc., or are they more of a administration/management type of businessman? There's quite a difference! Another aspect is how many of them cut their teeth of B2C (business>man in the street) businesses, i.e. direct retail such as retail shops, market stalls, etc or tradesmen such as self employed electricians or plumbers, or are they all of the mould of B2B (business>business) selling where deals are done on the golf course? If the latter, they won't have a clue about engaging with the punter on the terraces and it would explain why they seem more at home with the prawn sandwich brigade!

As to why changes weren't made, it could be that they have no idea how/what to change, or it could be that PMG wanted to keep the "big picture" to try to maximise his sales revenue as it's pretty clear it's been for sale far longer than when it became publicly known, or it could be "corporate paralysis" where it was like watching a car crash and not being able to shake themselves out of the rut to do something, always just "hoping" that things will change. No one knows really what goes on at board level. Do the other directors even have any say or is it just what PMG says goes?