Statement from Rory Fitzgerald - New Stones Chairman

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Re: Statement from Rory Fitzgerald - New Stones Chairman

Postby charlie » Thu Jan 17, 2019 7:58 am

How will a Morritt scenario happen. when we do not own the site, just the name of a club.

The clubs silver has long gone.
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Re: Statement from Rory Fitzgerald - New Stones Chairman

Postby Ronnie » Thu Jan 17, 2019 8:23 am

charlie wrote:How will a Morritt scenario happen. when we do not own the site, just the name of a club.

The clubs silver has long gone.


By taking control and lumbering the club with debt or contractual commitments that cannot be met.
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Re: Statement from Rory Fitzgerald - New Stones Chairman

Postby The Guvnor » Thu Jan 17, 2019 9:19 am

Ronnie wrote:By taking control and lumbering the club with debt or contractual commitments that cannot be met.


Exactly.

At least if we can get through to the end of the season we will have no outstanding contracts to be met for next season so a good opportunity to regain financial control.

Clubs often find themselves in trouble when a sole backer, and to all intents in purposes PM was, walks away. We have in theory done the opposite and dispensed of our sole backer which of course is a very unusual step to take so I'd be amazed ( but not surprised ) if we didn't have something lined up.

With the structure of our share ownership as well how much more would PM have been able to put into the club anyway ? Unless he was prepared to just make donations which I don't believe was in his thinking.

I remember at the end of last season looking at the contractual commitments we had for this one and worked out ( using the rumour mill admittedly ) that over 5k in wages a week was already used up with not a great deal to show for it. That doesn't leave the manager a great amount to play with especially when the hierarchy are trying to tighten the purse strings.

The wastage these past few years has been shocking, the money we have blown in putting out a team that looks no more than a 4.5-5k a week team the majority of the time is scandalous.
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Re: Statement from Rory Fitzgerald - New Stones Chairman

Postby Royal Blue » Thu Jan 17, 2019 7:51 pm

"The wastage these past few years has been shocking, the money we have blown in putting out a team that looks no more than a 4.5-5k a week team the majority of the time is scandalous."

I cannot say with certainty that PM was trying to engineer a 'Morritt' situation to take control of the club and even if he was, there was a risk it would not come off. So, on that basis, I say thanks to PM for investing £300k. The fact that it was comprehensively spunked all over the pitch is what makes it so sad, for all concerned. But the PM/NA/BW axis, we know now and some have known for longer, couldn't deliver success, even with that kind of cash. Not only was the club not set up for success, it was set up for financial failure, as the accounts show. Factor in the lack of comms, the lack of leadership and the board had to act, despite the 'investment'.

We are lucky to have Rory step up, even on a temporary basis - this young man runs a serious building company in GPF Lewis. We need to support the new board, the management and the players that are left. We are unlikely to be relegated I would say but we do need to get through and so with that 2018/19 back story we can now enjoy Wealdstone FC again, win, lose or draw. We must trust and unite. PM's bitterness is to be expected but even so I was disappointed with his "final statement", digging out Rory in particular- it did feel as if it was all about the money.

Moving on - one quick win for the board is to get the young people back in again. Drop or amend the £6 joke, be humble and promote the flip. Let's breathe some life back into our Vale.
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