Dundalk CEO Gerry Matthews In-depth Interview

[Ezeikial]

Very open and typical candid interview with Gerry Matthews which gives some interesting comments on the league in general. It also adds additional perspective on many areas of interest previously discussed here such as Wage cuts, July signings, 2009 Financial Deficit, 2010 season budget, €5.5m Youth Development Centre, Dave Rogers, The role of the supporters and wider community in running the club.

http://blackandwhitetown.squarespace.com/home/2009/9/25/gerry-matthews-interview.html

[dong]

"The team are currently in 5th place. I think there is 50k set aside in prize money for finishing in that position. Will any prize money go towards reducing the deficit?
Some of that prize money has already been given to us."

What?:eek:

Good interview and he doesn't seem to be bluffing too much in fairness to him. Particularly liked this bit:

"You can't do everything at once. We would want our own fans beside the stand to be covered in first."

Dead right too...:D

[Mr A]

Interesting that the wagebill is apparently 9k a week. Aren't Sligo paying that or more?

Overall I like his style- he seems pretty open and honest, while at most clubs you hear nothing until the crap hits the fan. Obviously the crap has hit the fan in Dundalk to some extent, but Matthews does genuinely seem to have a plan to turn it around.

I can't see how a loan won't affect next year's budget though- doesn't it have to be repaid?

[Dillonman]

Interesting that the wagebill is apparently 9k a week. Aren't Sligo paying that or more?

Overall I like his style- he seems pretty open and honest, while at most clubs you hear nothing until the crap hits the fan. Obviously the crap has hit the fan in Dundalk to some extent, but Matthews does genuinely seem to have a plan to turn it around.

I can't see how a loan won't affect next year's budget though- doesn't it have to be repaid?

Well he is a very shrewd and experienced local businessman!

[Mr A]

There's a lot of shrewd and experienced local business men who turn into total plonkers as soon as they get involved with a football club.

[Redie]

Interesting that the wagebill is apparently 9k a week. Aren't Sligo paying that or more?

Overall I like his style- he seems pretty open and honest, while at most clubs you hear nothing until the crap hits the fan. Obviously the crap has hit the fan in Dundalk to some extent, but Matthews does genuinely seem to have a plan to turn it around.

I can't see how a loan won't affect next year's budget though- doesn't it have to be repaid?

What are you basing that statement on and why bring Sligo Rovers in to it?

[Celdrog]

"Some of that prize money has already been given to us."
What?:eek: All the premier clubs got some prize money before the summer break. (Not sure about 1st division)

[eelmonster]

I can't see how a loan won't affect next year's budget though- doesn't it have to be repaid?

Of course, the details of how the loan will be repaid were in the Cork match programme:

What are the club doing to address this [projected 'worst case scenario' deficit of €195,000]?
We have set a target to fund raise approximately €80,000 - €100,000 between now and the end of the season. [At] all levels of [the] club we have a series of events and fund-raising initiatives. It’s going to take a lot of work. We are then going to finance the remaining €100,000 loss with a bank loan over three-five years. Therefore, we will then ease the burden for 2010 and spread it over that time frame. Realistically we will need to repay the loan over three years but that has yet to be finalised. By doing this we hope that it will lessen the impact it will make on the 2010 season.

[Mr A]

What are you basing that statement on and why bring Sligo Rovers in to it?

Because I thought you might find it interesting that Connor was doing a lot better at Dundalk with less money that Cook is doing at Sligo. And one of the Sligo fans said on here the other day that you're spending 11k a week.

[srfc1928]

Because I thought you might find it interesting that Connor was doing a lot better at Dundalk with less money that Cook is doing at Sligo. And one of the Sligo fans said on here the other day that you're spending 11k a week.
Oh well we must be so.
We are not spending 11k a week.

[Celdrog]

target to fund raise approximately €80,000 - €100,000...... We are then going to finance the remaining €100,000 loss with a bank loan over three-five years.

If we get 100k of a loan and make up 70-80k in fund-raising then we will be okay. ........ The loan won't affect the budget. That's our objective.

Are those two pieces of information different? And how will a loan not affect the budget next year? You either reduce the budget to pay the loan or you increase the budget to keep the same money available and pay the loan.


Now would I be right in saying that, despite all the staff (players) taking pay cuts, Dundalk FC have admitted they cannot meet their liabilities for this season and they have to borrow money from the bank? Makes signing 7 new players in the transfer window look strange.
Maybe its not just a south Louth thing. (*East Meat, Sh** Dublin Suburb - feel free to use your own.)

I like GM, think he is very good and honest, keeps the fans informed. But in recent weeks he is starting to look a bit out of his depth, like the rest are.

[dong]

Because I thought you might find it interesting that Connor was doing a lot better at Dundalk with less money that Cook is doing at Sligo. And one of the Sligo fans said on here the other day that you're spending 11k a week.

It is interesting. Who knows the truth? Probably nobody on here anyways. 9k is probably after players taking a wage cut though so was probably more than 11k at the outset and for two thirds of the season.
Again, it's all speculation.

[Buller]

Thought he was very honest about the clubs situation. The Youth Center seems a very positive and impressive development. Where did they aquire 5.5million to build it though? Sports grants hopefully. He's definately going about business the right way anyway.

[Ezeikial]

Are those two pieces of information different? And how will a loan not affect the budget next year? You either reduce the budget to pay the loan or you increase the budget to keep the same money available and pay the loan.


A projection (of profit or loss) is not an exact science. The projections on the season deficit was/is crica €180k to €195k. Dependin on new fund-raising projects it is hoped to reduce this to circa €100k by season end, and hence finance that shortfall by way of a loan over 3 years.

It does not automatically follow that the player budget will be reduced next year (although it may be)- although the loan repayments must obviously be factored into the overall club budget. The projected income through all revenue streams (including new sponsorship and new fund-raising projects) will be what determines the budgets.




Now would I be right in saying that, despite all the staff (players) taking pay cuts, Dundalk FC have admitted they cannot meet their liabilities for this season and they have to borrow money from the bank?

No - although you would be right in saying that the club require to borrow in order to meet liabilities. There is no question but that all liabilities will be meet.




Makes signing 7 new players in the transfer window look strange.





If you read the article you will find clarification here.

Incidently, there were 6 new signings in July, and 8 departures from the club from the start of the season to date. The wage bill was actually lower on Aug 1 (before wage cuts) then at the start of the season.




I like GM, think he is very good and honest, keeps the fans informed. But in recent weeks he is starting to look a bit out of his depth, like the rest are.

Gerry Matthews is far from out of his depth. The commencement of the €5.5m Youth Development Centre illustrates his clarity and drive for the future of the club.

[SkStu]

im finding it very difficult to believe that Dundalk are paying e9k a week (i presume nett) in players wages. I also found it hard that they were paying e11k. I would love to see the breakdown on the e9k. Puts the rest of the interview in doubt for me.

Good luck to him and Dundalk though.

[Mr A]

That is a wee bit suspect in fairness. How many full time players do Dundalk have?

I see 17 guys on their squad page- average of about €530 per week.

I'm guessing the figure must be net of tax based on that.