yardleysappetite

I couldn't make the meeting last night but I feel I have a reasonable grasp on what is being proposed. There is one aspect I'm still not fully understanding though, namely how the playing budget will be increased. I appreciate that the loans will be paid of by CiC membership and increased usage of the clubs facilities so if the membership adds (I think it was noted a page or 2 back) 136k and then perhaps another 100k per annum from the bar and groups using hospitality etc would this all automatically have to go to servicing the 1-1.2 million in loans taken on until they were paid off? If so at those projected annual additional incomes we'd be looking at 4-5 years before there was an increase in player budgets, no? I assume that if our gates increase then that money would be kept purely for the club but then we all know how fickle our support can be so there's no guarantee that'd we'd see a significant boost to the 2500-3000 hardcore even if were to be chasing the heady heights of 9th in the SPL ...basically I'm just wondering if there is a filtering of this hoped additional income where say half can go to repaying the loans and half to the player budget and then in time when the debt goes obviously then we'd see it all going to the player budget?...I've pledged on the 10000 hours site and think this could be the way forward for our club but I just require a little more clarity before I part with any membership money.

Thanks for clarifying that.

That's fair enough, I'm glad to read that it's less than a £2million borrowing.

The document says that purchasing the shares will cost £2million so I'm merely assuming that the full £2million is coming from this specialist funding for CiC's. I of course don't know if the full £2million would be considered loans (soft or otherwise) and thus have to be repaid or if it would be...400k or whatever other amount we wish to speculate on...I'm just suggesting that should a £2million borrowing be secured against the CiC or 10000 hours or whomever it is still money that has to repaid and as I understand it money that will be repaid from the profits from the increased usage of the clubs assets and the CiC members...I also wonder that if I were to become a member of the CiC would I still be partly responsible for paying this debt should the whole plan fall apart? Will I still be held accountable for repayment?

Having spent countless hours reading this site as a guest over the past 2 years now seems as good a time as any to join and actually post...whether it'll be a worthy contribution that's another issue...anyways so I've read through the 10000 hours document and it does flesh out the proposal a bit more and has answered a few of my questions and concerns, however I'm still a little miffed about the whole debt repayment aspect of it...the document acknowledges that there will be borrowing and that it will taken out against the 10000 hours group, ok fine so far...the next section explains that this borrowing will be repaid by the increased use and trading of the clubs facilities (100k per annum projections are noted) and the CiC membership...ok again fair enough...but then what exactly is the level of borrowing required that will be classifed as loans? Is it the full £2 million to buy the 52% or a smaller amount? My point is should the borrowing to fund this takeover be £2million does this mean that all additional income from the facilities and membership of the CiC will go straight to paying of this borrowing and not to improving the team budgets until the amount is fully repaid...now with around 100k projected additional incomes and say 36k from CiC membership that will take a few years to repay...being an anthropologist finance has never been my forte so if anyone could clarify this for me that'd be much appreciated...I know the 10000 hours team have put up contact details but I have a feeling that perhaps someone will be able to answer this for me on here without me having to clog up the inbox of the Atkinson et al.