BIG D Posted January 29, 2013 Share Posted January 29, 2013 Chairman Dave Allen outlined the need to reduce the club's debt during Monday night's AGM at the Proact. Allen told shareholders: "The club carries far too much debt, with loans of £7million, which needs to be reduced. Ideally, we'd like to get the debt to around half that figure. I think this business could sustain a debt of £3million. "There's a council loan of £960,000 with four per cent interest charged and they should give serious consideration to writing it off over a three to five year period, when you consider how much publicity this club generates for the town." Allen admitted that the IT system at the club - revealed by director Ashley Carson to cost around £100,000-a-year - is a major financial burden. He said: "We went way over the top with the IT system and that's something we're trying to address." Raising cash in the transfer market is one of the options open to the club, Allen pointed out, as well as staging concerts similar to last year's successful event featuring Elton John. "We've been able to reduce operating costs," said Allen. "Chris Turner has succeeded in making some dramatic reductions but we have to be a selling club. Seventy per cent of money raised will go to reducing the debt and thirty per cent will go to the playing budget. "We will put on more concerts and hopefully make £300,000-400,000. Tom Jones had been lined-up but he's decided not to tour this year. We should be able to announce shortly who will be performing." Chief executive Chris Turner echoed Allen's message, stating: "We've got to find other savings in the next 12 months to keep things on an even keel. "The Johnstone's Paint Trophy win saw £350,000 coming into the club but there were 1,000 people not renewing season tickets for obvious reasons. It's a winning team that brings crowds back. "We can't spend above our means so we do have to be a selling club. We have to produce our own players." The accounts for the year ending June 30, 2012 were adopted and Shorts Chartered Accountants were re-appointed as auditors on a show of hands. Link to comment Share on other sites More sharing options...
theowlsman Posted January 29, 2013 Share Posted January 29, 2013 Deja flippingvu. Tom Jones not coming to Chesterfield now. Hahahaha. Sounds like its being run like Phoenix Nights Link to comment Share on other sites More sharing options...
sheffield_dave Posted January 29, 2013 Share Posted January 29, 2013 Cretin. And I hope you've got that word right. "Cretins" Link to comment Share on other sites More sharing options...
Guest Deleted member Posted January 29, 2013 Share Posted January 29, 2013 Hang about. I thought Allen announced they were debt free when he took over? Link to comment Share on other sites More sharing options...
BIG D Posted January 29, 2013 Author Share Posted January 29, 2013 'Thump' Link to comment Share on other sites More sharing options...
Guest Big Guns Posted January 29, 2013 Share Posted January 29, 2013 Wtf I thought I was on the Rodri thread See ya Link to comment Share on other sites More sharing options...
Spudvegas Posted January 29, 2013 Share Posted January 29, 2013 Hang about. I thought Allen announced they were debt free when he took over? Apart from the £1M owed to the council the other £6M is probably a directors loan, courtesy of He Who Shall Not Be Named, and charged at an interest rate similar to Wonga's! :ls: Link to comment Share on other sites More sharing options...
edinburghowl Posted January 29, 2013 Share Posted January 29, 2013 It's frightening to think they were running the club at one point. Link to comment Share on other sites More sharing options...
Spudvegas Posted January 29, 2013 Share Posted January 29, 2013 (edited) :ls: "What do you mean there's a £2M gap in the budget Bob?!" Edited January 29, 2013 by Spudvegas Link to comment Share on other sites More sharing options...
alfonso123 Posted January 29, 2013 Share Posted January 29, 2013 So...before...they come to break down the dooooor! Link to comment Share on other sites More sharing options...
BIG D Posted January 29, 2013 Author Share Posted January 29, 2013 Sounds as if they could do with a decent CEO. Wonder what Kavans up to these days? Link to comment Share on other sites More sharing options...
theowlsman Posted January 29, 2013 Share Posted January 29, 2013 And in other news, Chesterfield are trying to book Showaddywaddy and Freddie and the Dreamers Link to comment Share on other sites More sharing options...
sherlyegg Posted January 29, 2013 Share Posted January 29, 2013 Wot, DA is not a chesterfax fan? well who'd a thunk it Link to comment Share on other sites More sharing options...
DJMortimer Posted January 29, 2013 Share Posted January 29, 2013 Remember the Chesterfield fans who came on here to shrug off our warnings a couple of years ago? Wonder if they're doing OK? Link to comment Share on other sites More sharing options...
Guest nevergetpastsemedo Posted January 29, 2013 Share Posted January 29, 2013 These small clubs will always struggle financially. I think Rotherham will find themselves in a very similar position even if they go up this season if they don't I think they will be fooked with the loans etc for the new stadium. Allen and Tony Stewart have got a few quid but not enough to be plugging millions a year Link to comment Share on other sites More sharing options...
bullitt Posted January 29, 2013 Share Posted January 29, 2013 Dave Allen, Ashley Carson & Chris Turner!!! How lucky were Chesterfield to get that dream team - it won't be their fault Chesterfield are in a mess!! Link to comment Share on other sites More sharing options...
theowlsman Posted January 29, 2013 Share Posted January 29, 2013 I think Shirley Bassey might be achievable if they say its the Aquarius Link to comment Share on other sites More sharing options...
Don Penn (pen) Posted January 29, 2013 Share Posted January 29, 2013 Night clubs and dog tracks. Night clubs and dog tracks - not football clubs Link to comment Share on other sites More sharing options...
Weshallovercome Posted January 29, 2013 Share Posted January 29, 2013 You'd think Dave would know by now you dont get your money back in football. He's not very good at this is he. Link to comment Share on other sites More sharing options...
Guest Ripley Owl Posted January 29, 2013 Share Posted January 29, 2013 Wtf I thought I was on the Rodri thread See ya Fabulous post BG ! Link to comment Share on other sites More sharing options...
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