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Any drogs fan hear the word that FAI are now considering the EUR 3.5m deal from the Lourdes Hospital across the road, as the FAI need this money to service the debt on the Aviva, the FAI in turn will have to re-locate Drogs somewhere else if/when they survive ?
Would sound a little extreme, its just a rumour.
I call bullshít.Quote:
Originally Posted by oriel
Drogheda Independent:
Quote:
DROGHEDA United launched a fresh appeal for ‘outside investment’ ahead of Tuesday night’s big supporters meeting in the Droichead Arts Centre, citing a shortfall of € 150,000 in the proposed budget for 2011.
The club says it hopes to operate with a budget of up to twice that amount, which would allow Bobby Browne put together a squad capable of making a credible push for an immediate return to the Premier Division.
But that € 300,000 figure can only be achieved if new investors come forward, and in advance of the meeting club chairman Terry Collins admitted that a smaller sum may have to be looked at.
Browne confirmed he would be attending the meeting and was hoping to operate with a budget of € 250,000 to € 300,000 for 2011, but he was aware that the club couldn’t run with such a figure as things stand.
‘I was speaking to Terry Collins during the week and he outlined a lot of things. It’s a bit bleak, but they’re trying to rally some support and this is a crucial meeting,’ he said.
Browne said he wanted to begin signing players before Christmas, but his hands were tied because of the uncertainty over Drogheda’s financial position.
‘Ninety per cent of players are out of contract and there’s a lot of decent players around the top amateur leagues who would play for a minimal amount. It’s similar to what I did with Monaghan,’ said the manager.
‘I will have to sit down with the club and see where they want to go and what they want to achieve in the future.
‘I have a list of players I want to bring down but can’t do anything until I have some insight into what I’m going to be getting.’
The anticipated deficit of € 150,000 – described in a club statement as the ‘most optimistic’ figure once projected income from sponsorship, gate receipts and other fund-raising was taken into account – was outlined to shareholders by the financial advisors sitting on the Claret and Blue steering group. In response, the shareholders have repeated their offer to transfer their shares to anyone interested in taking over the football club in order to secure its future.
The club statement added that neither the shareholders, nor the board members of Hinge Trading Ltd – which trades as Drogheda United – could act as guarantors any longer, nor do the shareholders believe the 250 Claret and Blue members should commit to doing so.
Outlining the reasons for last night’s meeting, which was postponed from the previous week due to the severe weather, Collins said: ‘ We want to have this meeting to gauge the support and see, is there a will out there to keep this club going.
‘The meeting is not for people to put money on the table, but just to come forward. If we are to continue running the club as it stands, we need to spread the load and get more people involved.
‘But we are looking for investment as well. People who are effectively running the club are of modest means and it would be great if somebody came forward and ran the club much the same as Dundalk is running its business.
‘One of the criteria for licensing is that somebody has to sign a letter of comfort and none of us is in a position to do that, either individually or collectively.’
The chairman said a three to five-year strategic plan for Drogheda United was being finalised, with a move away from United Park still top of the agenda.
Wtf do they need a 300k playing budget in the first division for, 7500 a week! Or am I reading it wrong?
Half that, and there's your shortfall sorted.
I assumed that was total budget to run the club, kind of for the reason you stated.
It was this quote from the manager that made me think it was playing budget:Quote:
Originally Posted by pineapple stu
"Browne confirmed he would be attending the meeting and was hoping to operate with a budget of € 250,000 to € 300,000 for 2011"
But according to the Drogs forum it is closer to overall budget, just badly phrased.
:bulgy:Quote:
Originally Posted by Lunatics
NO ONE EVER LEARNS ANYTHING EVER IN THIS LEAGUE. EVER.
I have to smirk at Terry Collin's comment on looking for somone to run the club similar to Dundalk's situation! A few years back he said to me(in quite a dismissive and scornful tone) that Drogheda wouldnt need to install an artificial pitch in any future development as the sorts of income generated by such an amenity would not be needed by a club the size of Drogheda Utd!!! He was being deadly serious too.
Posters above picked out the most damning aspect of Drogheda's thinking....clubs should be budgeting for a worse case scenario and anything else is a bonus. Im still not totally confident about my own clubs finances and yet we are opeating under the tightest financial restraints probably ever in our history. A decade of footballing agony ultimately did us no harm and we are trying to grow slowly to a position of challanging (indeed our progress has pushed on due to the recklessness and demise of other clubs). I suppose what i am saying is that for Drogheda to budget for quick promotion could finish them off. With pending restructuring of the league too???
No truth in that whatsoever . And it wouldnt be the FAI relocating Dufc anywhere as we own the ground with them and it cant be sold from under us without our consent .Quote:
Originally Posted by oriel
I dont post much on the forum because most of the discussion is based on rumor and counter rumour. What i will say is that the Drogheda situation is grim to say the least. If Browne is hoping to have a budget of 250K , he is not going to get it because it simply will not be there. Most clubs i am sure are going to find themselves in trouble if some common sense is not used in the present economic circumstances with regard to budgets , forecast income and expediture .
The fact that the FAI pass these budgets is neither here nor there but personally i wouldn't get them to pass my kids teams expenses.
One fact that gets brushed away is costs , and simply the costs involved in running a LOI club , excluding a modest playing , are ridiculous. I shouldn't have to list them but its covers everything from tea bags to hospital bills.
The liciencing regulations , although improving certain standards slowly , are unrealistic and unreasonable for a league so small we are trumped in with Moldova and Albania in other european standards.
Until there is both commercial and people support for this league there is no point in denying the inevitable that its future is never going to improve.
THe FAI exist not for the benefit of the clubs but the league and the clubs exist on life support for the benefit of the FAI, i dare them to deny it.
Every rumour and counter rumour that appears on here ignores the elephant in the room - that LOI football cannot continue in its present format , run by the same people with the same agenda under the same set of rules and regulations.
Yes , i hear someone say so what would you do. Well God knows i've tried with one club but there just seems to be an inability to change .
It cannot survive in the format as followed by Drogheda, Bohemians, Cork, Galway etc.Quote:
Originally Posted by ClaretnBlue
However, clubs operating on the basis of funds generated from their own community and amenities, such as Rovers, Sligo and ourselves (following our belated conversion to sensible economics) is sustainable.
Sligo's inclusion in that is laughable
fair enough WH - however, it seems that most clubs need to be stung by their own actions at least once before the necessary changes are made.Quote:
Originally Posted by White Horse
In what sense? We have been operating on a sound enough financial basis for the last couple of seasons as far as I know.Quote:
Originally Posted by Dodge
I would have included Pats in White Horse's list.
And the rest need to be stung how many times?
Wednesday, 15 December 2010 19:08
Drogheda United have revealed that they are suffering severe financial problems after they confirmed that they are actively seeking a new owner for the club.
In a statement, the club confirmed that they must raise €185,000 before 28 January if they are to partake in next season's Airtricity First Division.
Drogheda, who were relegated from the Premier Division after finishing bottom this season, have been run by a group of volunteers since the club underwent examinership two years ago.
However, the steering group currently in charge of the club claim that they need to raise a five-figure sum before January's final FAI licensing deadline.
In a statement, the club said: 'Following a public meeting in Drogheda last night, the message is now loud and clear - Drogheda United FC requires a new owner/benefactor.
'This may be an individual or alternatively a wider group of people, be it a consortium of business people or supporters or a combination of both. The message imparted by members of the Claret & Blue Club steering group now running the club is that a figure of approximately €185,000 is needed before the 28 January final FAI licensing deadline.
'This figure would give the club the security required to embark on another season of football and enable the club to put structures in place that would ultimately lead to it becoming self-sustaining in the future.
'Due to lack of sufficient funds since Drogheda United exited examinership two years ago, the club has by necessity been run by a small group of volunteers who have been so embroiled in the daily task of keeping the club functioning that they have not had the time or manpower to put in place medium to long-term plans.'
So when are the provisional deadlines that the FAI have set?Quote:
Originally Posted by iceman
Heard this on Off The Ball earlier. Doesn't sound to healthy at all. I have my fingers crossed for the club.
I always had this feeling though that ye may have been better off getting relegated a la us there a couple of seasons ago when the fan started to be covered in excrement as I feel that a low base would have made everything hit home a bit quicker. As it stands it just felt like ye were suffocating to death. A sad demise and I for one hope ye get through it.
Good point, its not all doom and gloom out there, UCD are another club who can survive and always have their house in order. To ClaretnBlue above`s post, I do hope drogs survive but your comment is typical of a club who have had a bad season, its like saying 'the standard is the worst ever' (as in the eyes of a fan who`s club did bad that year)Quote:
Originally Posted by White Horse
We had 7 years (8 in total) in the FD, it almost saw the club fold, but we emerged stronger, better run, trying our best to break even, an improved ground, of course the new owner helped, but he has a business model in operation from the tea and coffee sold at half time, to pitch rentals, to generating income from 2 bars, (soon 3) to playing in europe, that is whats needed, a clear business model. Now this comes at a cost, the playing budget is modest, so fans know to expect mid table finishes, but thats fine by me as we are seeing Premier Div football.
There is enough goodwill and support for properly run football clubs to survive in this league, in these cases the public will come out and support them, for others it will be a case of starting at the very bottom if need be, but there should always be hope.
The point should continually made that the league has survived since the inception of the state.
Clubs may come and go. Attendances may rise and fall.
But there'll always be a League of Ireland
2010 expenditure was put at €529,000, when all income considered there was a shortfall €88,000. The projected budget for 2011 takes a realistic approach in factoring in significantly lesser figures including gate income, due to the anticipated smaller crowds and the relative lower ticket prices. Fixed costs such as travel, rent, medical, light and heat have driven the figures upwards. Overheads for 2011 are estimated at €402,000, however considering all incomings there is a perspective deficit of €188,000.
http://www.extratime.ie/newsdesk/articles/4710/
Perhaps I'm missing something. Drogheda are carrying forward a loss from 2010 of €88,000 and that deficit will increase by €100,000 if they proceed with budgeted expenditure of €402,000.
So why not reduce budgeted expenditure to €214,000 and clear all the debt.
Drogheda need to realise that they are a small club with a tiny fan base. If they cut their cloth, they can plan to build up their fan base (and their revenue) over a number of years.