Kowalski Posted November 26, 2010 Share Posted November 26, 2010 I am sure they are normally out by now. I can only assume the club are waiting for something good to happen on the park before attempting to bury more bad news. Quote Link to comment Share on other sites More sharing options...
BobbyBiscuit Posted November 26, 2010 Share Posted November 26, 2010 I am sure they are normally out by now. I can only assume the club are waiting for something good to happen on the park before attempting to bury more bad news. Might just be genuinely late, fairly common occurence. Quote Link to comment Share on other sites More sharing options...
Tyrant Posted November 26, 2010 Share Posted November 26, 2010 I am sure they are normally out by now. I can only assume the club are waiting for something good to happen on the park before attempting to bury more bad news. The mentality of a Dons fan that's been suffering for too long! Quote Link to comment Share on other sites More sharing options...
Kowalski Posted November 26, 2010 Author Share Posted November 26, 2010 The mentality of a Dons fan that's been suffering for too long! Quote Link to comment Share on other sites More sharing options...
mizer Posted November 26, 2010 Share Posted November 26, 2010 Might just be genuinely late, fairly common occurence. Especially when its a company Willie Miller is involved in...... Quote Link to comment Share on other sites More sharing options...
stoney Posted November 26, 2010 Share Posted November 26, 2010 Being honest i think we are fucked. Think the rolled up interest from loan is due in march and we have absolutely no way of paying it back. Quote Link to comment Share on other sites More sharing options...
manc_don Posted November 26, 2010 Share Posted November 26, 2010 Being honest i think we are fucked. Think the rolled up interest from loan is due in march and we have absolutely no way of paying it back. The way the club has been performing on and off the pitch, it wouldn't surprise me if we are in a bit of shit. Quote Link to comment Share on other sites More sharing options...
stoney Posted November 26, 2010 Share Posted November 26, 2010 From that side of it the club budget to be 11th and out in the first round of the cups (again losers mentality strating at the top) some might say sensible planning but at least we are covering ourselves from that side of things. I can seriously seeing it being announced at the AGM that pittodrie will be sold off and planning put in for flats thus paving the way for the new stadium Stewarty has us by the balls. Quote Link to comment Share on other sites More sharing options...
baggy89 Posted November 26, 2010 Share Posted November 26, 2010 When you consider the likelihood that the compo for McGhee, Leitch and Meldrum as well as Leighton's pay off will be included also last season our lowest average attendance since 03/04 and the collapse of the Setanta deal. OK there is the alleged £600k for Miller but I'd bet a large proportion of that was based on goals scored and appearances, wouldn't surprise me if there was a good bit to be added to the debt. When's the latest they can be filed, December 31st? Quote Link to comment Share on other sites More sharing options...
stoney Posted November 26, 2010 Share Posted November 26, 2010 Yeah according to companies house. Quote Link to comment Share on other sites More sharing options...
BobbyBiscuit Posted November 26, 2010 Share Posted November 26, 2010 I can seriously seeing it being announced at the AGM that pittodrie will be sold off and planning put in for flats thus paving the way for the new stadium Stewarty has us by the balls. It is a possibilty that they'll announce Pittodrie is to be sold, why would they announce putting planning in for flats? That's the business of whoever buys the land which may or may not be Milne Homes. Quote Link to comment Share on other sites More sharing options...
Tyrant Posted November 26, 2010 Share Posted November 26, 2010 I would have hoped that with years of cuts and shhite budgets that we'd be ready for making a repayment to the bank. Quote Link to comment Share on other sites More sharing options...
baggy89 Posted November 26, 2010 Share Posted November 26, 2010 It is a possibilty that they'll announce Pittodrie is to be sold, why would they announce putting planning in for flats? That's the business of whoever buys the land which may or may not be Milne Homes. Having planning permission for the site will add significant value I would have thought. Quote Link to comment Share on other sites More sharing options...
stoney Posted November 26, 2010 Share Posted November 26, 2010 Exactly nobody will touch the site unless planning permission is given first. Quote Link to comment Share on other sites More sharing options...
BobbyBiscuit Posted November 26, 2010 Share Posted November 26, 2010 Having planning permission for the site will add significant value I would have thought. Absolutely, but I'd be amazed if they announced that particular statement at the AGM considering the main business of our chairman and his current popularity. they'd surely wait til after the AGM? Quote Link to comment Share on other sites More sharing options...
dave_min Posted November 26, 2010 Share Posted November 26, 2010 Thought they had permission for flats on Pittodrie, as well as permission to build on top of Allan Park or was I high when I imagined that. Quote Link to comment Share on other sites More sharing options...
Superstar Tradesman Posted November 26, 2010 Share Posted November 26, 2010 I just about slit my wrists reading about AFC as it is. The last thing I'd want to do is sit and read through their accounts. Quote Link to comment Share on other sites More sharing options...
stoney Posted November 26, 2010 Share Posted November 26, 2010 Something fishy is going on Last year accounts released 31st Oct - AGM 23/11/09 2008 - Released 7th Nov and AGM 1st December Why so late this year, the agm at earliest going to be in two weeks if they announce it next week? Quote Link to comment Share on other sites More sharing options...
BobbyBiscuit Posted November 26, 2010 Share Posted November 26, 2010 Something fishy is going on Last year accounts released 31st Oct - AGM 23/11/09 2008 - Released 7th Nov and AGM 1st December Why so late this year, the agm at earliest going to be in two weeks if they announce it next week? it's not necessarily fishy. Could be anything, could be a problem at the printers, mistakes in the documents sent to the printers etc. In saying that.... Quote Link to comment Share on other sites More sharing options...
Superstar Tradesman Posted November 26, 2010 Share Posted November 26, 2010 They cut back on stationary as a budgetary measure in 2009 after failing to draw up the 5 year plan over a 15 year period. http://uk.wrs.yahoo.com/_ylt=A0WTf20lye9M7wsArUNWBQx./SIG=12rnacs47/EXP=1290811813/**http%3a//localism.com/image_store/uploads/1/8/5/5/0/ar122066194105581.jpg[/img] Quote Link to comment Share on other sites More sharing options...
maverick sheep Posted November 26, 2010 Share Posted November 26, 2010 Thought they had permission for flats on Pittodrie, as well as permission to build on top of Allan Park or was I high when I imagined that. I thought that too. In fact I thought the only reason the new stadium even got as far as the cartoon stage was that Milne had agreed to buy the land from himself. What a guy. Bleeds red. Anyway. Yet more pish. Can't think of a more mismanaged entity than AFC. Fucking scunnered. Quote Link to comment Share on other sites More sharing options...
BrownyBrown Posted November 26, 2010 Share Posted November 26, 2010 The AGM is due in this calendar year, and the accounts should be issued to shareholders 3 weeks prior to this. I'd be expecting them in the next week or so. Quote Link to comment Share on other sites More sharing options...
mizer Posted November 27, 2010 Share Posted November 27, 2010 http://www.afc.co.uk/articles/20101127/aberdeen-football-club-announce-trading-results_2212158_2231184 Aberdeen Football Club announce trading results Aberdeen Football Club plc today announced the trading results for the year ended 30 June 2010. Pittodrie Chief Executive Duncan Fraser stated "The economic conditions facing Scottish football were as challenging as they have ever been and the events of the last twelve months right across the professional game in Scotland have reinforced that. "The overall turnover fell from £8.557 million to £7.057 million with most of this decrease as a result of the consequences of the revised television deal following the collapse of Setanta. "The overall wages to turnover figure after adjustments came in below the industry recommended level of 60 per cent despite the decreased turnover and the base wage level being maintained at previous levels as a result of the completion of the alignment between the bonus structure and the level of team performance". The overall operating loss before depreciation and amortisation was £667,000 up from the previous figure of £327,000 but the transfer fee profit of £415,000 meant that overall, the figures were in line with last year's results as a consequence of the bonus alignment and the tight cost control. Fraser added. "The 2009/10 base wage level increased slightly on the previous year and will be in excess of the majority of our competitors. The television deal means that operational losses are likely to continue in the short term but, going forward, the club's commitment to youth development will result in a sustainable budget that will be supplemented by transfer fees" The Chief Executive further stated his intention to carry out a review of all aspects of the business and put in place a strategic plan to see the club through to the new stadium and training facilities. Chairman Stewart Milne commented. "The period covered was extremely challenging on the park and a lack of consistency has caused real issues, an aspect that required to be addressed. While times are challenging the football budget is substantial and performances must improve to the level expected at the Club". Commenting on the renewal of the bank facilities due to be renegotiated by March next year Stewart Milne added. "The Board and I are confident that, with the continued support of the major shareholders, the facilities will be re negotiated. "Rather than look to put in place a short term solution, we are seeking to ensure the facility covers the period through the development phase of the stadium and training operation." This view was echoed by Duncan Fraser. "I have looked at the trading position through to the start of 2013/14 and beyond and have worked with the major shareholders to ensure that we can put in place the medium term facilities the Club requires." This year's Annual General Meeting will take place in Pittodrie Stadium's Richard Donald Suite at 7 pm on Monday 20th December 2010. Quote Link to comment Share on other sites More sharing options...
stoney Posted November 28, 2010 Share Posted November 28, 2010 How the fuck have they managed that Net debt is up to £12.866 million from £10.977 last year. Total wages 4.601 from 5.756 Loans due within 1 year 11.792 million Quote Link to comment Share on other sites More sharing options...
Kowalski Posted December 1, 2010 Author Share Posted December 1, 2010 How the fuck have they managed that Net debt is up to £12.866 million from £10.977 last year. Total wages 4.601 from 5.756 Loans due within 1 year 11.792 million Finishing 9th in the league got the blame, and poor cup runs with very few home games. For wages they've said that the reason they are lower is that there is a new bonus scheme in place, and that the wages on playing staff is slightly lower than the year before. I also noted from the report that executive directors have taken a pay cut which is included in the above figure - I'm assuming both Miller and Fraser are the only ones getting paid. As for the loans, they are currently renegotiating their bank facilities so I don't know if that means the loan will end up being due further down the road!? Quote Link to comment Share on other sites More sharing options...
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