AGM (merged)

[stewarty66]

Not good

http://www.bbc.co.uk/sport/football/36110945

[LH31]

Im sure this was mentioned in another thread that the financial state of the club wasn't great.

[skygod]

Straightforward lift from the Annual Report.

Surprising that it took John Barnes so long to get a copy!

[freddoig]

Whose funding the losses ,this years got to be as bad and probably a lot worse so somebody is funding the club ( my guess is B B ) and the worry is wno ever it is they will get to a point whre they simply decide no more.

[Squirrelhumper]

58 minutes ago, skygod said:

Straightforward lift from the Annual Report.

Surprising that it took John Barnes so long to get a copy!

He's a shareholder, maybe he had the wrong address on his letter like i did! 

 

[theauldyin]

Not until MJ leaves this club ,, can I see how things will get any better, he himself has stuck two fingers up to his own customer base too many times. Many fans have found better things to do , and lots will probably never return until he is gone and the club returns to be a properly run club, working with the community and not plaything and gravy train for one mans ego.

If he gets another easy ride this AGM I fear the worst ! if he remains in any capacity. shame as LC  looks to be a good manager after the two other donkeys they brought in before him and he deserves at least at to have a budget on par with them.

Mr Johnston for the good of Kilmarnock Football Club.... PLEASE GO !

Edited April 22, 2016 by theauldyin
spelling

[livvy]

On 14/04/2016 at 1:18 AM, Killie1984 said:

I know we have been in terminal decline for what seems like forever.

However with the chairman going, possibly 700k losses, and the whole Brownings debacle things appear to be getting even worse.

Do you think the club can survive?

 

 

There are many of us who know the day is coming. there are a few in denial as to the extent of the situation. There are one or two in the everything is fine camp.

 

Regardless, today's news is evidence that things will soon come to a head and with the main asset stripped the club will be in a very dangerous position, as weak as Hearts, Dundee and Dunfermline were at best...as bad as Sevco were realistically and in the worst case (which doesn't bear thinking about) beyond repair. If we go down this summer will probably see that point reached. If we do not it will be at some time in the next season. It is coming and it is starting to appear closer than it has been in the past. 

 

At that rate of loss we would be right back to where we were in the debt stakes within about a decade. Without the hotel. Without hospitality income. Without overdraft facilities. We are not sustainable in our current form.

[Bigdodge]

On the BBC Website today

http://www.bbc.com/sport/football/36110945

I was reading this today and found myself actually roaring at the laptop in work!!!!

Breakdown of article:

Mann, who will step down at the club's annual meeting later this month, also stated the board's desire for new investors in the club.

How's about starting with MJ. The real "Big Cheese". He hasn't put a penny in. Lead from the front and others may follow. And WHO in their right mind would invest in a club with a £725K loss AND with MJ ruling the roost? MJ has zero IN and Max OUT. FFS, he can't even waive his expenses in support of the club. Doing his work free gratis would be investment of sorts.

If anything the club are VERY good at chasing invest away.

"Losses on this scale are unsustainable in the longer term," he said.

"And urgent action is being taken to stem them and to increase income via season ticket and match-day pricing."

No s**t Sherlock!!!! We've been saying that for years. How's about you actually listen to your customers (like any good business does) and make positive changes?

One of the main reasons for such a heavy loss - up from £453,272 for the previous year - was their 10th-place finish in the Premiership last season having budgeted for seventh.

WTF? Why would we be basing budgets on finishing 7th when we have no basis to think we can achieve that. There has been nothing to suggest we can. Wake up.

Mann described this as "a very disappointing outcome" that had the effect of reduced income, poor attendances and lower than expected season ticket sales.

So is it OUR fault now? Keeping asking the question WHY? enough times and you will get to the root cause - MJ. Wake up.

"In a recent BBC Scotland survey, we were shown to be the least expensive Premiership club to support in a number of categories," said Mann.

So f***ing what? You're not Aldi or Lidl. Bargains and value for money are only met when the product is any good. 

At last year's AGM, following the restructuring of the finances that left Killie debt free without bank overdraft facilities, Mann said they needed to be a financially self-sufficient club.

Brilliant. Absolutely agree that we need to be self sufficient but how do you get there without the correct structures and contingencies in place?

The hope was that this would come from a combination of well-controlled costs, success on the field, player sales and performances that would drive higher attendances and season ticket sales.

Success on the field? Based on what data?

Player sales? Who?

"Our report card on this would read, must do better, and this is clearly the major focus for the board," Mann added.

Report card? What is this? School? Naw its people lives and well-being we are talking about. How's about must do better and here is how we will realistically achieve that........

The club and the Killie Trust supporters group are currently working together on a scheme that will raise working capital through fan investment.

As part of this initiative, which they hope to launch in the next few months, supporters will be given representation on the board.

Total and utter bollocks. Raising capital is a great idea....How do we do that? Any ideas? No, that's the problem you have no ideas. 

As for having a rep on the board. That might as well be a cardboard cut out of me or anyone else on this forum. The board ARE cardboard cutouts and MJ is just a caricature of himself.

This WHOLE article reeks of an MJ red-lined announcement.

It's about time the media as a whole woke up and started making him squirm.

 

[MarkyMark]

On 14 April 2016 at 3:33 PM, Mark said:

The below is the money charged to the club by A & AB Boyd in fees since Michaels appointment to the board;

2003 - £0

2004 - £0

2005 - £0

2006 - £300

2007 - £24,000

2008 - £26,000

2009 - £50,000 (MJ sole director from this year)

2010 - £50,000

2011 - £55,000

2012 - £60,000

2013 - £60,000 (additional board members appointed)

2014 - £81,000 (sale of hotel)

2015 - £60,000 (I am reading the £105k owed is from past year yet to be paid items included in above)

So in total, over the course of Michael’s tenure, A & AB Boyd have been remunerated to the value of £466,300 for their “Consultancy and legal fees”. 

To put these fees in context £25,000 is the fee for a £5,000,000 commercial conveyancing transaction and £50,0000 is the fee for a £10,000,000 transaction. You may be able to secure these types of fees for higher value properties via competition. A&B Boyd are involved in property but I doubt they will have done any transactions of this scale. KFC are probably one of A&B Boyd's biggest clients over the last few years and are a cash cow for MJ. He has earn' very good fees from KFC at a time of low transactional activity in the market and for his clients like the Moffats. 

This is another reason why he won't just walk away.

[Ken T]

1 hour ago, MarkyMark said:

To put these fees in context £25,000 is the fee for a £5,000,000 commercial conveyancing transaction and £50,0000 is the fee for a £10,000,000 transaction. You may be able to secure these types of fees for higher value properties via competition. A&B Boyd are involved in property but I doubt they will have done any transactions of this scale. KFC are probably one of A&B Boyd's biggest clients over the last few years and are a cash cow for MJ. He has earn' very good fees from KFC at a time of low transactional activity in the market and for his clients like the Moffats. 

This is another reason why he won't just walk away.

Not forgetting the nepotism in the hotel before it was given away. This lot in charge are completely incompetent, these figures are embarrassing. They've managed to chase away a significant proportion of the fan base with a series of PR disasters which began when MJ decided Kenny Shiels was getting too lippy. In any other business a board presiding over this mess would be tossed out by the shareholders - not an option for us given the inexplicable decision of Moffat to gift his shareholding to his solicitor. And remember these figures were before Locke brought in all that mediocrity and backroom staff in the summer so if you think last year's loss is bad just wait for the next one. Absolutely no idea where we go from here. It's all very well us moaning at Sevco spending money they didn't have but we've done the same. And not exactly had Brian Laudrup or Gazza to watch in the process. Totally p***ed off.

[Scouser2]

So no positive weekend on the pitch to deflect and hide behind for this clueless board...........

Come the AGM will it be more shifting the blame on to the non paying fans or will they announce some new plan that looks good on paper but...in reality ....never actually happens .....

[chubbs]

oh to have Lee Harvey Oswald crouching on top of the Moffat Stand tomorow .....

[theauldyin]

7 minutes ago, chubbs said:

oh to have Lee Harvey Oswald crouching on top of the Moffat Stand tomorow .....

or a sniper

[Scouser2]

so will the Club hope that by announcing the Trust  "investment" will help to deflect any critics ??

[findis]

4 minutes ago, Scouser2 said:

so will the Club hope that by announcing the Trust  "investment" will help to deflect any critics ??

Of course they will. People will clap and then go for a pie.

[Kanyon]

So obvious how the club will spin this I'm pretty disappointed the trust representatives thought this a good time to do it. 

[findis]

So obvious that this was going to happen.. MJ will claim it as part of his community engagement, and that he is listening to the fans.

Can't understand why thet trust allowed this to happen.

[Squirrelhumper]

Thank god i'm in work and can't attend.

I hope somebody from the Trust still has a copy of the letter MJ sent to them 18 months rubbishing the idea. 

Show's you how desperate he is if hes accepting it now.

[skygod]

I'm expecting a lot of "The club admission prices were the best value in the league but the public didn't respond by attending."

You can't force people to watch a poor product. It's outwith the financial year in question but how can they expect fans to rush to buy season tickets for a team and manager who have lost eight of their last nine matches?!

Anyone other than the blindly loyal is going to wait to see if the product improves and a 0-4 home defeat in the first match doesn't bode well.

I know many don't agree but I find the plastic pitch a huge turn-off and I don't remember being consulted before it was laid.

The fans will turn out if the product is right and there is some hope to cling to. This will be the third consecutive season of utter s**te -  last three seasons' home records are 9th, 9th and 11th. In fact, we are 11th best both at home and away this season and we are second bottom on (de)merit.  

 

Edited April 26, 2016 by skygod

[Harleygirl]

One of the few clubs in Scotland people would like to invest in . Will not because of one so called man. !!!!!!

[Squirrelhumper]

Anyone at the AGM? Busy?

[McLusky]

Gies some live updates folks who are there please.

[CB]

https://twitter.com/hashtag/KillieAGM?src=hash 

[Mojike and Bod]

Killiefc.com twitter feed has updates as does Russell Abercrombie if you follow him.   Opening gambit - no AOCB on the agenda.  Again.....

[Squirrelhumper]

3 minutes ago, Mojike and Bod said:

Killiefc.com twitter feed has updates as does Russell Abercrombie if you follow him.   Opening gambit - no AOCB on the agenda.  Again.....

And in other news, the earth isn't flat.