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Post by os on Jun 16, 2019 22:41:17 GMT
Is this right or ethical?
When you look at a club like Gateshead being relegated 2 divisions for their crimes, how on earth can clubs be allowed to get away with this? Surely it breaks any sort of fair play rules and operating a club like that cannot be seen as right and proper trading.
Ebbsfleet United lost more than £2.5million during their first season back in the National League.
Player and staff costs for the year to May 31, 2018 exceeded £2.1million while operating costs were up almost 40% on the previous year.
Fleet's revenue climbed to £900,000 following promotion but the company accounts illustrate
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Post by davethegrave on Jun 17, 2019 20:21:53 GMT
Is this right or ethical? When you look at a club like Gateshead being relegated 2 divisions for their crimes, how on earth can clubs be allowed to get away with this? Surely it breaks any sort of fair play rules and operating a club like that cannot be seen as right and proper trading. Ebbsfleet United lost more than £2.5million during their first season back in the National League.
Player and staff costs for the year to May 31, 2018 exceeded £2.1million while operating costs were up almost 40% on the previous year.
Fleet's revenue climbed to £900,000 following promotion but the company accounts illustratebut the company accounts illustrate what?
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Post by surreyu on Jun 17, 2019 21:47:04 GMT
The fact they failed to pay their staff on time nearly every month last season and all of the playing staff have left this offseason says that it's an issue
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Post by os on Jun 17, 2019 22:52:06 GMT
Is this right or ethical? When you look at a club like Gateshead being relegated 2 divisions for their crimes, how on earth can clubs be allowed to get away with this? Surely it breaks any sort of fair play rules and operating a club like that cannot be seen as right and proper trading. Ebbsfleet United lost more than £2.5million during their first season back in the National League.
Player and staff costs for the year to May 31, 2018 exceeded £2.1million while operating costs were up almost 40% on the previous year.
Fleet's revenue climbed to £900,000 following promotion but the company accounts illustratebut the company accounts illustrate what? I didn't want to bore you with the entire story, but here is the rest of it from Kent Online. Surely it shows a club that cannot pass the financial stability criteria requires to compete in the National league?? _the excesses which club bosses have since been trying to curb. On the pitch, Ebbsfleet reached the National League play-offs in 2017/18 before losing to Tranmere in the semi-finals. But that success came at a cost, with wages and salaries up 37% year-on-year. Fleet employed an average of 60 people per month, including 38 players and player management and 22 management and administration. The club was left with £1.9million due to creditors within a year, although promotion to non-league's top flight saw their turnover increase significantly. Matchday operations almost doubled and commercial activities brought in just under £300,000 - up almost a third on the previous season. It was a year of major change in the boardroom, with Dean Pooley replacing Peter Varney as vice-chairman while director Stuart Butler-Gallie also resigned. Dave Archer and Dherar Al-Humaidi - the brother of owner Dr Abdulla Al-Humaidi - both left the board but later rejoined, while Abdullah Almeajel was appointed a director in October 2018. Big spending 'was a mistake from the beginning' Rebuilding job is boss Hill's biggest test Fleet First: Archer's blueprint to balance the books Investment during the year was £2.86million, covering player acquisitions, operating expenses and infrastructure development. The strategic report in the accounts stated: "The principal risk affecting the company is around the continuing availability of funding, in particular that required to fund working capital on an ongoing basis. "In light of this risk the company remains dependent on the continued support of its ultimate parent undertaking. "The club continues to receive capital investment from the owner on a monthly basis to fund the current operating deficit."
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