General Meeting, Consortium et al

[Alan]

Any members who want a general meeting to discuss the consortium and issue of shares, you don't have to wait for the board to call a meeting, 5% of you can serve a notice requiring the board to call a general meeting.

[Mike the Dagger]

I understand that we are still short of cash, and that the Board are refusing to consider the consiortium offer as they believe it is too low so we are stuck at present.

If Full Members can force an extraordinary general meeting as described, now is the time. Is their a contact list someone can ring round to find the requisite 5%?

Nero is fiddling while the Daggers burn.

[lupins]

From the little we really know for sure I would say that offer was too low for ownership we need investment if we want to progress or even maintain the current level
A one off sum however well intentioned will not do the job
Mind you we don't really know all the facts

[steeevooo]

Mind you we don't really know all the facts

And therein lies the problem. IIRC Tommo stated previously that the reason that we have financial difficulties at present are because otherwise we would not be able to mount a top-5 finish effort this season. Reading between the lines, is that a way of saying that if we don't get immediate return promotion then we are truly up sh*t creek? If so, then we need to know why we have found ourselves in such a truly dire situation that the only resolution is by promotion, and if not, then why not simply lower expectations and do what we have always done, which is manage our budget/expectations appropriately and consolidate?

Whilst I am still glad that Tamplin has walked off, I still think there is a very long way to go in this saga, and there are still very worrying times ahead.

[Mike the Dagger]

Mind you we don't really know all the facts

And therein lies the problem. IIRC Tommo stated previously that the reason that we have financial difficulties at present are because otherwise we would not be able to mount a top-5 finish effort this season. Reading between the lines, is that a way of saying that if we don't get immediate return promotion then we are truly up sh*t creek? If so, then we need to know why we have found ourselves in such a truly dire situation that the only resolution is by promotion, and if not, then why not simply lower expectations and do what we have always done, which is manage our budget/expectations appropriately and consolidate?

Whilst I am still glad that Tamplin has walked off, I still think there is a very long way to go in this saga, and there are still very worrying times ahead.

Spot on...

The club statement said "Once our relegation had been confirmed the Board of Dagenham & Redbridge FC started preparing its plans for next season and, even with the enhanced parachute payment it will receive over the coming 12 months, it was clear that we would not have sufficient funds to really compete to be a top 5 club in our new division."

If that is the case then fine, shame, but lets not try to compete with the top 5, we consolidate and go again when we are stable.

I hear that the money (cash flow) issues are more pressing than that. Given that the Board has always told us that the club is being run to keep in the black and that we actually had a good windfall season last time around (Jones fee and decent FA Cup run), and that we have just got season ticket money in, it is massively concerning that we are in trouble now.

Time to come clean on where we are at, at least to the Members, and put all options from here on in on the table for discussion.

I worry that Nero is steering us to a point where we are actually totally stuffed for money, at which point Tamplin can then be "persuaded" to come back and save the day.

[RayleighDagger1986]

Is this not an opportunity for the fans to take back our club. I recall some on here pledging to buy shares. Could we not put together our own consortium and raise capital and give fans the chance to own the club!!

[lupins]

This is a romantic pipe dream that keeps going.

Even if it happened how would continuous funding be arranged for a start. Owning shares might mean a short probably small cash injection then what, who would run the Club, make decisions, maybe a Forum poll to decide something, God help us.

Though I agree we should not put the club in financial deep water in a vain hope of getting a promotion it is about time people realise other clubs do have deep pockets, bigger gates, rich owners etc. To quote that oft used phrase on here we can find our natural level and if that is the Essex Senior League is that good? If the answer is yes but the club will be owned by fans then don't see it myself

This is not a sudden cash flow situation we have been losing money for years relying on player sales etc to top up the yearly deficit. Eventually that business model which is our stated model and has been proudly so for years can need support

This is a very important time for the Club and all options need to be considered seriously. The fact that one possible very good option has disappeared is a cause for concern in my opinion not joy. Note I said possible because I never got to hear the in and outs just the innuendos and out

[Mark]

We were comfortable for many years in the conference so I'm not sure why we can't be again.

If all the teams with lower gates than us have benefactors then we just have to live with it, but I'm not sure they do.

If we have to fight relegation again then so be it.

[Kevin]

The fact that one possible very good option has disappeared is a cause for concern in my opinion not joy..

I agree with all the sentiments regarding the 'fan-owned' stuff - how on Earth a few hundred people are supposed to agree on day-to-day items, as well as being able to inject regular cashflow, is beyond me.

That said, the potential 'very good option' was quite clearly not 'very good' at all.

Have no truck with all the rumours about the individual concerned. The deal itself - to hand over 80% of ownership for £250k - was spectacularly shite. The guff about handing back 16% for each year he would potentially not pay out the further £250k payments would have led to just under a 3 year period where one individual would have had full control having only guaranteed funding of £250k.

I have real concerns on how the Board could have got so fully behind this with such enthusiasm.

[mickeyblue]

The fact that one possible very good option has disappeared is a cause for concern in my opinion not joy..

I agree with all the sentiments regarding the 'fan-owned' stuff - how on Earth a few hundred people are supposed to agree on day-to-day items, as well as being able to inject regular cashflow, is beyond me.

That said, the potential 'very good option' was quite clearly not 'very good' at all.

Have no truck with all the rumours about the individual concerned. The deal itself - to hand over 80% of ownership for £250k - was spectacularly shite. The guff about handing back 16% for each year he would potentially not pay out the further £250k payments would have led to just under a 3 year period where one individual would have had full control having only guaranteed funding of £250k.

I have real concerns on how the Board could have got so fully behind this with such enthusiasm.

pretty much all of this. the board backing this when at first glance it looks a complete con is very worrying indeed.

shares in club with a board elected would get my vote easily

[Diggerthedog]

This is a romantic pipe dream that keeps going.

Even if it happened how would continuous funding be arranged for a start. Owning shares might mean a short probably small cash injection then what, who would run the Club, make decisions, maybe a Forum poll to decide something, God help us.

Though I agree we should not put the club in financial deep water in a vain hope of getting a promotion it is about time people realise other clubs do have deep pockets, bigger gates, rich owners etc. To quote that oft used phrase on here we can find our natural level and if that is the Essex Senior League is that good? If the answer is yes but the club will be owned by fans then don't see it myself

This is not a sudden cash flow situation we have been losing money for years relying on player sales etc to top up the yearly deficit. Eventually that business model which is our stated model and has been proudly so for years can need support

This is a very important time for the Club and all options need to be considered seriously. The fact that one possible very good option has disappeared is a cause for concern in my opinion not joy. Note I said possible because I never got to hear the in and outs just the innuendos and out

Who said anything about continuous funding? It's clear we need a current injection of cash which this could provide and from then on we live within our means.

The business model was working fine until the current boards messiah Burnett shelved it for overpriced and really crap Pro's. On and off the pitch the club has been mishandled terribly. The fact we had the cup run and the Jones money and are still £200k in the red beggars believe.

[lupins]

Precisely my point

Living within our means means very possibly not at a very good level

If people are happy with that fair enough

Personally I enjoyed League One and League two wasn't bad either

Sheffield Wednesday away beats Brentwood away for me

[Diggerthedog]

Precisely my point

Living within our means means very possibly not at a very good level

If people are happy with that fair enough

Personally I enjoyed League One and League two wasn't bad either

Sheffield Wednesday away beats Brentwood away for me

Getting beat every week did not do it for me. We can compete on a budget with the right tools, I had a better time at Boreham Wood many years ago when we broke the clean sheet world record than I did at Sheffield Wednesday.

[lupins]

Good for you I was at that game too and many more that were great at whatever level we were at that time. Hampton away for example.
The point is we should be looking to be as high and successful as possible not actively accept "our level" whatever that means.

[Diggerthedog]

Good for you I was at that game too and many more that were great at whatever level we were at that time. Hampton away for example.
The point is we should be looking to be as high and successful as possible not actively accept "our level" whatever that means.

Yes that's why the only model that will work for us is living within our means the notion that a cash rich individual can come and in the long term the club will be better off is nonsense. I'm very happy this guy has gone off the radar.

We got to league one with the right model we can do it again with the right tools and not put the clubs Future in jeopardy. No other club of our size has made it to league one level without a benefactor.