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More redundancies. Where are you SMISA?


glen

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1 hour ago, Cookie Monster said:

Think I've added it up correctly £2.8m

Total wage bill was £3.8m

Still got Manager, Assistant, Coaches. Academy, Commercial and Office staff.

Well if that’s true it’s feckin mental. For that kind of money I’d be expecting far better players. Does this suggest that teams like Hearts, Hibs, Aberdeen and probably Dundee Utd are paying far more than that? 
Have we gone back to the late 80s/early 90s and I never noticed??

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6 minutes ago, TPAFKA Jersey 2 said:

Well if that’s true it’s feckin mental. For that kind of money I’d be expecting far better players. Does this suggest that teams like Hearts, Hibs, Aberdeen and probably Dundee Utd are paying far more than that? 
Have we gone back to the late 80s/early 90s and I never noticed??

I can tell you that about 7-8 years ago , Hearts were offering £10k p.w to tempt an English Championship / league one player . I would imagine the others you mentioned wouldn’t be far from that figure now. 

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https://www.stmirren.com/all-news/4765-vacancy-head-of-academy-sports-science-medicine

Another appointment. Why aren't the ones in the know not announcing this before the club. [emoji1787]
That can't be right. We're in a dire financial position remember. We're just getting rid of folk, not taking on new ones. Must be a spoof advert.
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My thoughts on the AGM.


There must have been nearly 100 shareholders present. At 7.30pm the Board members walked in. The black ties and long faces most of them were wearing seemed very appropriate. After the usual introductions the Chairman apologised for the loss of £1.5 million in the May 2021 to May 2022 accounts. He then gave a 10 minute presentation (it seemed longer) on the main points of the accounts.


Over the next hour and a half about 8 or 9 shareholders came up to a microphone and asked detailed questions. There was only time at the end for one football question to the manager.


In summary they were told the Club faced some “one off” costs, the building works at Ralston cost a whole whole lot more than estimated, There were “one off” costs around the members of staff who had “left” and there was Covid. 


It was pointed out to the board that they had managed to turn a profit of around half a million pounds into a loss of 1.5 million pounds in 12 months. Over £4000 loss a day. The chairman promised to do better this year and said he hoped to report at least a breakeven position in next year’s accounts, and that individual directors had now been allocated areas of the club to supervise.

He admitted that the wage bill has gone from £2.8 million to £3.5 million and as a percentage of income, this was unsustainable as was the month on month losses shown in the accounts. The number of management and admin staff going from 38 to 75 was explained as changes being made to the way some coaches had previously been paid.


A former director raised the question of an application for grant funding made by a current Kibble / St. Mirren director for a project on land adjacent to land owned by the club. The director in question seemed to have some difficulty fully answering that question.

As I said before, Kibble claimed they would “bring our commercial expertise to St Mirren”. Perhaps that is the kind of expertise we could all live without.


It is difficult not to think that the board had taken its eye off the financial ball last year. Most of the shareholders in attendance at these meetings hold a relatively small number of shares. Many would have inherited them from family over the years. Thankfully none of us expects a dividend for our investment. None of us are expecting to sell our shares someday for a vast profit. None of us are depending on the shares investment for a pension. None of the current directors are paid a salary.


Just as well. If we did I suspect last night’s meeting would have been calling for resignations. 


The sale of a player or players will certainly help the bank balance as will the World cup appearance money (possibly for the same player).


All sing along -Things can only get better. Things can ……………….


 

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A former director raised the question of an application for grant funding made by a current Kibble / St. Mirren director for a project on land adjacent to land owned by the club. The director in question seemed to have some difficulty fully answering that question.
As I said before, Kibble claimed they would “bring our commercial expertise to St Mirren”. Perhaps that is the kind of expertise we could all live without.


@animal Care to name said directors and if the grant application was for personal/kibble/SMFC gain.
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Details were given. Kibble applied for funding for a care unit to be built. It was claimed this would be on council owned land near the stadium and that this would be a conflict of interest as it was land the club could potentially develop. The Kibble director said it wasn't a conflict and other board members agreed. The funding application wasn't successful anyway.

 

 

 

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58 minutes ago, Thorizaar said:

Details were given. Kibble applied for funding for a care unit to be built. It was claimed this would be on council owned land near the stadium and that this would be a conflict of interest as it was land the club could potentially develop. The Kibble director said it wasn't a conflict and other board members agreed. The funding application wasn't successful anyway.

 

 

 

Come now Thorizaar, you know this isn't how things work around here with your facts and context......half truths, cloaked accusations and downright untruths are all that "Really" matter :spud5

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On 1/23/2023 at 3:46 PM, Callum Gilhooley said:

I can tell you that about 7-8 years ago , Hearts were offering £10k p.w to tempt an English Championship / league one player . I would imagine the others you mentioned wouldn’t be far from that figure now. 

The likes of Naismith were not far off of that. They also had on their books at one time under Romanov on 10k+ a week. Can't remember their names. One was from Chile, the other from Africa.

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@animal @glen

did anyone ask the question as to why the club have been refused a UEFA licence?

It would seem odd to be gambling the future of the club on potentially achieving a high league placing and not participating in European competition if we were to qualify. 

Unless that could actually be seen as a positive as many of these uefa early rounds invariably cost clubs a great deal of money to participate in. 

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