Nick Leeson

[Gareth]

Is the new commerical manager of Galway United??? Was on RTE Radio. How bizzarre!!

[dcfcsteve]

Is the new commerical manager of Galway United??? Was on RTE Radio. How bizzarre!!

Not the rogue trader fella......??????

[MariborKev]

Could very well be

He lives in the West of Ireland, and has mentioned the eL in his columns for Inside Edge, a gambling magazine

[davey]

Its definitely the Rogue Trader :eek: Could be interesting!

[A face]

Well at least you could have learnt from his mistakes !! :D

Fair play though ... the guy might know a trick or two anyway.

[Gareth]

Rogue Trader it is. Very interesting.

[Patrick Dunne]

has lived in Galway for the past two and a half years. An interesting appointment, initially in PR terms, however in the long term he will be judged on his ability to "maximise our revenue streams".

[dcfcsteve]

I think this is great news for the club - at the very least from a PR perspective.

Regardless of the major 'gambling' he got himself involved in back in Singapore, the guy would no doubt have a business brain of some kind, so should be of some use to Galway.

Look forward to seeing the fruits of his labour...

[Gareth]

Think of the pr globally! That will be a big thing. Hey Foot, get an interview :)

[harry crumb]

I wonder if he will be getting paid. I was at a lecture he was giving in college and he says that he for every 2 euro he earns he must give 1 euro back to the revenue in Britain.


He's married to a lady from Galway.

[Terry]

THE MAN who single-handedly caused the collapse of Barings Bank 10 years ago has been appointed commercial manager at Galway United Football Club.
Rogue trader Nick Leeson, whose actions led to the collapse of the 233-year-old British bank with losses of €1.3bn in 1995, will take up his new position this week after being appointed last Friday.
The 38-year old has lived in Galway for the last two-and-a-half years with his wife Leone and their family. It is his first job since he was jailed almost 10 years ago for his part in Barings' collapse.
Club chairman John Fallon said Mr Leeson would be tasked with implementing a series of commercial initiatives aimed at developing Galway United, and the board had every confidence in their new appointee.
"It is impossible to ignore the events which have made Nick Leeson known worldwide," he added. "But long after the fanfare about his appointment has passed, Nick Leeson will be tasked with the demanding job of implementing a series of commercial initiatives aimed at developing Galway United FC.
"Life has moved on for everyone. The primary concern here is the future strong development of Galway United FC, and to that end a series of initiatives have been drawn up which will be driven by the new commercial manager.
Nick said: "I know my name precedes me to a large extent and sometimes is a barrier for most organisations. Galway United are quite aware of that and are comfortable with it. They are going to give me a chance and hopefully I'll be able to repay them." :eek: :)

[paudie]

I can definitely see an article about this appointment in "When Saturday Comes" in the next few months.

Seriously though, it could work. Galway is a growing city and there should be loads of commercial opportunities for the club.

Only thing he seems to have no relevant experience.

[dcfcsteve]

I think and hope he'll actually do a good job. There's next to feck-all money coming into Irish football, and few clubs have made serious efforts to get it in -particularly at First Division level - so anything he achieves will be viewed positively.

His appointment will be well known in the Galway business community, and when he comes knocking his name will swing him meetings with people that non-entities might struggle to get. As long as the guy's got decent patter and a bit of charm he should be able to convert a few of these meetings into cash for the club.

Most importantly - he's a man with a point to prove. Assuming he hasn't got lazy in his 10 years of inactivity, I think that'll be the thing that'll propel him towards success.

Good luck to him....

[monutdfc]

I think and hope he'll actually do a good job. There's next to feck-all money coming into Irish football
agree and agree

, and few clubs have made serious efforts to get it in -particularly at First Division level
Are you joking? On what basis do you make that statement? Every club makes huge efforts to get money in. It is the hardest task facing every club in the league.


As long as the guy's got decent patter and a bit of charm
He has it in spades!!!


Assuming he hasn't got lazy in his 10 years of inactivity, I think that'll be the thing that'll propel him towards success.
Have you been asleep for the past 5 years? He's written a book and done loads of public speaking. I think he's also advised banks and financial institutions on their risk management. He's often in the papers and on the radio. He is a very interesting man to listen to.


Interestingly, he's allowed earn a (fairly hefty - c. STG 30k) threshold amount per annum, above that amount 50 cent in every dollar he earns goes to the creditors of Barings Bank.

I think it's an excellent appointment by Galway United - a great bit of PR, both for Galway United and the league in general.
Is it a full-time position?

[conboy]

Don't ye think Shamrock Rovers would have suited him better? :D

[Terry]

Is it a full-time position?

Yes. Bar the playing staff, all the rest of the positions at the club are on full-time basis.

[dcfcsteve]

Are you joking? On what basis do you make that statement? Every club makes huge efforts to get money in. It is the hardest task facing every club in the league.

I make that claim on the simplest yet purest form of evidence there is - results !

If every club is making huge efforts, then where are the results ? The only big results I can think of recently have been shirt sponsorship with Cork and Pats and naming rights at Longford and Drogheda. Yet those are well-trodden avenues for football fund-raising worldwide, not rocket science.

Every club most certainly does NOT make huge efforts to get money in. The vast majority have fund-raising (particularly beyond shirt sponsorship) in the hands of well-meaning but inexperienced and part-time volunteers. Fundraising is indeed the hardest task facing all our clubs, but very few of our teams have set in place experienced professional people and structures to tackle it. That is a sad but simple fact. Well done to Galway for bucking that trend - particularly given they're in the financial wasteland that is the First division...

[thejollyrodger]

i couldnt belive it when i read it in the paper. Fair play to him and Galway united for signing up. I think he has settled down in Galway, he has a kid and all and he said he wanted to bring rountine into his life or something.

Honestly though, i cant see what he can do. there isnt a whole pile of money floating around Galway but best of luck to him anyway

[Eire06]

i couldnt belive it when i read it in the paper. Fair play to him and Galway united for signing up. I think he has settled down in Galway, he has a kid and all and he said he wanted to bring rountine into his life or something.

Honestly though, i cant see what he can do. there isnt a whole pile of money floating around Galway but best of luck to him anyway
He can launder his money from all those off shore accounts through GUFC accounts for a substantial charge, all partys making a profit ;) :rolleyes: :cool:

[Terry]

Honestly though, i cant see what he can do. there isnt a whole pile of money floating around Galway but best of luck to him anyway


What ?? There is a serious amount of money in Galway, its just a matter of how do you get the people with it to invest in an eircom league club!!

[monutdfc]

make that claim on the simplest yet purest form of evidence there is - results !
The best benchmark for a club's revenue earning ability is its gate receipts as a percentage of the total. The lower this number the more the club is generating other revenue. In most leagues in the world, matchday income is the largest portion of a club's turnover. For many eircom league sides this is very obviously not the case, especially in the First division.

Every club most certainly does NOT make huge efforts to get money in.
Have you been involved with your club? If so, surely you will have seen that "getting money in" is a huge part of the efforts of the club.
Most premier division clubs have a full time commercial manager now. Many First division clubs cannot afford the same, and it's not easy to sell advertising/sponsorship in a division with bugger all crowds and next to no media exposure. Galway United have a very big catchment area and potential fan base and so feel that it's the right time to make this appointment. It's a brave decision to make this financial commitment and I wish them well. I think the achievements of many clubs in revenue generation (eg Dublin City) are superb, and not to be knocked. I've seen first hand how well meaning volunteers can squeeze a lot of money out of local and national businesses. I don't understand how you say it is not taken serioulsy when it is the main thing clubs have to do to survive.

Sorry if I sound a bit grouchy. But in this league every club is trying to get every penny in the door, there is little media exposure to sell to potential advertisers and so it is not just a simple matter of appointing a commercial manager and hey presto things are being taken seriously and the thousands will start rolling in. It has been thought of before you know (just ask Bohs about commercial managers - they've been through about 4 in 4 seasons).

But from what I've seen, heard and read of N Leeson, he is certainly capable of being a success.

[Shelsman]

Big Coup for Galway, fair play.

Apparently he was a Man City supporter when he was in England ( so that's what happened them! ).

Hope it works out for Galway, if we have big provincial clubs then it is a big boost to the league.

[CollegeTillIDie]

What could prove to be his biggest challenge will be to get Galwegians( from the City I mean) to go to Terryland Park, because at the moment their support base is the County and surrounding Counties such as Mayo, Roscommon and Clare.

[blutil]

Was it just me or did the RTE report on Nick Leeson & GUFC show Drogheda playing instead of galway, only saw it quickly so GUFC could have been playing away, either way im bored. :rolleyes:

[Macy]

Interestingly, making the news in the UK as well. Had at least one interview on fivelive yesterday, on top of RTE, Today FM (the Last Word)....

Good short term PR for the club, as has been said, long term it's wait and see.

Incidentally, RTE and Today FM far more condescending about Galway United/ eL than the BBC. :rolleyes:

[Aberdonian Stu]

He's a smart guy. I remember reading an article by him on the tenth anniversary of his absconsion. Was very open about his own wrong-doing. Pointed to huge botch-ups by Barings that allowed him to get away with it and how this should have been a warning to other institutions yet AIB still got done over by Rusnak.

[galwaygirl]

Was it just me or did the RTE report on Nick Leeson & GUFC show Drogheda playing instead of galway, only saw it quickly so GUFC could have been playing away, either way im bored. :rolleyes:

You're right blutil, It was the 2nd leg of the Play-offs back in Feb 03, us against Drogheda in O2 Park.

[Patrick Dunne]

.. the last footage RTE have of a GUFC win is from the '91 Cup final ! :rolleyes:

[CollegeTillIDie]

Today FM studiously ignore the EL so I for one studiously ignore them.
Bad and all as RTE are, their Radio Sport division do a good job on Friday nights!

[A face]

EDIT: This could be in a few threads, reacting to different comments but here is as good a place as any .... anyway ....


Lads, just reacting to some posts here and else where ..... the TV coverage wont change at all ever, unless the clubs and fans get vocal about it .... if anyone thinks it'll happen any other way then you are totally wrong, we got a few extra games and eL weekly (and that is going down the pan) in about 10 years .... believe me ... it aint going to happen


But does anyone seriously think that this comes anywhere near the amount of coverage that the league should be given.


Basically what has happened is the all singing, all dancing emperor’s new clothes 'New Amazing TV Deal' that we were promised has shut us all up for the next three years and in that three years nothing will be done by anyone, to improve on this ...... the clubs will stay quiet, the league will stay quiet, the fans will stay quiet, the sponsors will stay away, the players will stay quiet ..... there wont be a twitch out of anyone ans in three years time when this all comes to ahead .... RTE and co will pull another fast one and it'll be that same thing over and over and over again !!


If anyone thinks otherwise .... you are wasting an awful lot of thought, simple as !!

[bluemovie]

The only glimmer of hope, A Face, is that this is the last year of the TV3 highlights package. Maybe RTE or Setanta might take it on and either of them would be more professional than TV3. If our clubs generate a bit of good publicity this year by doing well in Europe, Rovers sorting themselves out and maybe some more big names coming in, RTE might be tempted to do something decent with it.

[NY Hoop]

Don't ye think Shamrock Rovers would have suited him better? :D

Well he couldnt have done a worse job than the muppets we have had as a board.

Congrats to Galway on a great move. The publicity alone has been worth it so far. A club like that should be in the premier.


KOH

[gufct]

GUFC prime example of good business sense

--------------------------------------------------------------------------------

HOW ironic that the man who broke Barings Bank is now working within the Eircom League at a time when bank managers have been reduced to nervous wrecks by the financial antics of clubs.

Shamrock Rovers have debts of €2.36m and a High Court-appointed examiner is battling to save the club from going bust.

Dundalk have to sell their only asset, the pitch used for youths matches, because they can't get a loan using it as collateral. They also need the FAI to go guarantor if they are to get the bridging finance necessary to complete the installation of an artificial pitch at Oriel Park.

There are other clubs on the verge of financial meltdown.

Nobody needs to be a graduate of the Smurfit Business School or the London School of Economics to realise why Eircom League lurch from one financial crisis to another.

The culture that exists within the League is such that clubs continually over-extend themselves by investing money they don't have in their team in the hope this will bring success.

The belief is that with success will come increased income through bigger gates, improved merchandise sales and prize money that will cover the outlay.

In other words, it's a gamble and often they would be better throwing it on the nose of a nag in the 4.30 at Gowran Park than splashing out on a new striker.

There are players in the Eircom League currently earning over €1,500 per week, more than some Irish rugby internationals earn, and in the effort to meet the weekly wage bill clubs are ignoring the bills and destroying the goodwill of their local business community.

While some wonder how certain clubs received their club licences for 2005 situations like those at Shamrock Rovers probably wouldn't have come to light if they hadn't been required to prepare audited accounts.

The financial criteria demanded by UEFA and the FAI is set to crank up in 2005 with the introduction of monthly accounts and detailed debt scheduling - expect more financially reckless clubs to be outed over the next 12 months.

The appointment of Nick Leeson as Galway United's commercial manager has attracted a lot of interest primarily because of his notoriety but he will be judged on whether he has met his targets rather than the number of column inches he has generated for the club.

Galway are a progressive club who definitely seem to be getting their house in order having realised the days of depending on local benefactors to bail them out of trouble no longer works.

They are attempting to be self-financing and operate from a realisation that gate receipts only provide between 10 and 20 per cent of their income.

Galway has a Board of Directors that contains 15 members drawn from a wide variety of backgrounds and expertise.

All the directors are volunteers who pay their own way, from purchasing season tickets and club gear to looking after their own expenses on away trips.

The day-to-day running of the club is conducted by the club executive made up of five people each of whom represents a key committee - finance, marketing, secretary/legal, UEFA Licence and facilities. Overall, there are around 45 volunteers running the club.

The employee side is under the control of General Manager Tony Mannion which includes the team manager, backroom staff and players as well as the new commercial manager, office manager and liaison officer.

Like every club in the League, Galway did their budgets at the start of the year and know what they must take in to meet their costs. Crucially, they have set targets to be met during the season and alarm bells will go off if they are not reached.

"There is a tremendous level of visibility and the board and the members of the executive know what is going on in every area of the club. It's transparent so problems can be spotted," says chairman John Fallon.

"Sentiment goes out the window when you have got to deliver on the balance sheet. The club has to be run as a business or else it is not going to succeed," he added.

It's a message others within the Eircom League should note.
__________________
BEER !! the cause of and solution to all of Galway Uniteds problems

[bluemovie]

Galway have FIFTEEN directors?!!! Blues are down to two including the acting chairman. Could ye spare us one or two?

[GalwayFrancis]

gufct, do you know how much the employed players, backroom
staff, liaison officier, nick leeson :D and the rest are getting paid
a week?


The employee side is under the control of General Manager
Tony Mannion which includes the team manager, backroom
staff and players as well as the new commercial manager,
office manager and liaison officer.

[gufct]

and if I did i would hardly broadcast it on here or on any other website.Id say Nicks salary would be very much performanced based.See you tonight I reckon we could get a big crowd so be as early as u can. :eek:

[Terry]

and if I did i would hardly broadcast it on here or on any other website.Id say Nicks salary would be very much performanced based.See you tonight I reckon we could get a big crowd so be as early as u can. :eek:

great isn't it. read on our newsletter the bbc and plenty of newspaper companies both irish and english will be here !!!

[dark one]

explain how can there be money in galway when all the people there do is make rollies grow their hair cultivate unusual body odours and sing songs about living in wig wams

best of irish luck to old nick hes going to need it

[Terry]

explain how can there be money in galway when all the people there do is make rollies grow their hair cultivate unusual body odours and sing songs about living in wig wams

best of irish luck to old nick hes going to need it


Jealousy will get will get you nowhere Darth Vader !!! :rolleyes: :confused: :D

[observer]

The greatest thing to hit the Galway investment scene since a local businessman gave Tony Taylor a suitcase full of notes. What a double act on TV the greatest con man in the world and the greatest bull shi-ter in Ireland. :D

[Heinze]

Its a great move for Galway, fair play to them. No publicity is bad publicity as they say!

[GalwayFrancis]

No publicity is bad publicity as they say!

very true!! if it wasnt raining badly in Galway last night, I think we would of had an attendance of easily 1,500. roughly there was about 850 ppl there :(