craigkillie Posted October 3, 2019 Share Posted October 3, 2019 2 hours ago, sophia said: Scot Gardiner spoke well, if for a little too long, and it's clear that he's doing lots to connect to the community. Not re-connect, actually connect. The hot take from the meeting is that Project Brave is costing a fortune and on the face of it the overheads involved in running all the youth teams seems ridiculous. Astonished to see that arch-bullshitter Scot Gardiner has blamed an external party for Inverness failing to balance their books properly. 5 Quote Link to comment Share on other sites More sharing options...
sophia Posted October 4, 2019 Share Posted October 4, 2019 6 hours ago, craigkillie said: Astonished to see that arch-bullshitter Scot Gardiner has blamed an external party for Inverness failing to balance their books properly. This post is at the least unhelpful, perhaps malevolent but certainly illinformed. I didn't hear Scot blaming anyone. What he trying to do is get the club on an even keel. 0 Quote Link to comment Share on other sites More sharing options...
parsforlife Posted October 4, 2019 Share Posted October 4, 2019 Scot Gardiner spoke well, if for a little too long, and it's clear that he's doing lots to connect to the community. Not re-connect, actually connect. The hot take from the meeting is that Project Brave is costing a fortune and on the face of it the overheads involved in running all the youth teams seems ridiculous. Alan Savage turned up and asked how much of a bridging loan does the club need to see it through to the end of the season and the answer was £250k. Cash flow is a problem. Ten years ago our turnover was £3.5M and last year it was £2M. Less money coming in and more needed to run the club. That about sums it up. If you are a fan, turn up and support your team.Heard that a million fucking times. Mostly meaning theirs an issue with cash flowing out of the business. 0 Quote Link to comment Share on other sites More sharing options...
RiG Posted October 4, 2019 Share Posted October 4, 2019 I wasn't there but from the tit bits I've read / heard whilst we are okay(ish) financially (any talk of admin is, at this stage, well wide of the mark) but if we continue to ply our trade in the Championship these ongoing losses, were no action to be taken, would result in us having to look at areas to make cuts. The youth setup would likely be canned or heavily scaled back and / or cuts made to the first team playing budget. If we want to maintain our current setup then we need more money invested in the club and getting more fans through the doors as well (this doesn't seem to be happening any time soon). Basically the club had budgeted for two seasons in the Championship (at a push three) before they would need to look at cutting back on costs and that's where we are now. I'm no fan of Scott Gardiner but these financial issues have been well known for some time and well before he came in. Can't say I have too much faith in him being able to resolve matters however. For a club that's done so much right on the pitch in a short space of time it's staggering how abysmal we have been off the pitch over the years. We have never gotten it together and it seems like we never will. 0 Quote Link to comment Share on other sites More sharing options...
bdu98196 Posted October 4, 2019 Share Posted October 4, 2019 If the club have decided to accept the losses for another season (thus putting the club in more financial jeopardy) they should have had that source for the £250k additional covered before those commitments.if primary focus is still to recoup debt and then drastic measures should have been taken to reduce expenditure for a few seasons and build from there. Right now it looks like we are gambling on play-offs and promotion (which is a huge risk) without having the cash to sustain it. Kind of like buying a Ferrari to drive to work then borrowing the petrol money from your mum in the hope you get a pay rise at appraisal time so you can pay it going forwards yourself. 0 Quote Link to comment Share on other sites More sharing options...
yoda Posted October 4, 2019 Share Posted October 4, 2019 11 hours ago, Tarmo Kink said: We lived within our means for over 20 years until some stupid egomaniac chairman came in. That’s not the fault of any of our fans. We are currently living within our means also, but are suffering from the decisions of that chairman still. Ignoring the misty-eyed nonsense regarding the "We've always lived within our means" claim (it doesn't really stand up to any basic scrutiny), can you explain how exactly a club lives within their means and also runs up two consecutive £800,000 losses? 11 hours ago, sophia said: Alan Savage turned up and asked how much of a bridging loan does the club need to see it through to the end of the season and the answer was £250k. Cash flow is a problem. And ICT fans will obviously be hoping that the club doesn't accept any outside funding from a wealthy benefactor. 1 Quote Link to comment Share on other sites More sharing options...
SandyCromarty Posted October 4, 2019 Share Posted October 4, 2019 Interesting to note that this thread normally trundles along with a few posts a week from the usual Caley fans, but the minute financial blood loss is sensed it would seem that all and sundry wish to express their expert opinion and/or criticism. Given that every club regardless has cash flow problems I suppose fans feel relief from their own club's woes when they can comment/wallow on another. 0 Quote Link to comment Share on other sites More sharing options...
sophia Posted October 4, 2019 Share Posted October 4, 2019 40 minutes ago, yoda said: Ignoring the misty-eyed nonsense regarding the "We've always lived within our means" claim (it doesn't really stand up to any basic scrutiny), can you explain how exactly a club lives within their means and also runs up two consecutive £800,000 losses? There have been years when profits have been made (~£21k, £12k and £254k) but otherwise its been whopping losses. @yoda can you guess which year we made the quarter of a million? 0 Quote Link to comment Share on other sites More sharing options...
craigkillie Posted October 4, 2019 Share Posted October 4, 2019 2 hours ago, sophia said: This post is at the least unhelpful, perhaps malevolent but certainly illinformed. I didn't hear Scot blaming anyone. What he trying to do is get the club on an even keel. All the warbling on about Project Brave and so on is an attempt to shift the blame away from the board and to say "look, the SFA are making us spend all this money". It doesn't wash - every other club is in the same boat and seems to manage without such a gaping hole in finances. 0 Quote Link to comment Share on other sites More sharing options...
sophia Posted October 4, 2019 Share Posted October 4, 2019 1 hour ago, bdu98196 said: If the club have decided to accept the losses for another season (thus putting the club in more financial jeopardy) they should have had that source for the £250k additional covered before those commitments.if primary focus is still to recoup debt and then drastic measures should have been taken to reduce expenditure for a few seasons and build from there. Right now it looks like we are gambling on play-offs and promotion (which is a huge risk) without having the cash to sustain it. Kind of like buying a Ferrari to drive to work then borrowing the petrol money from your mum in the hope you get a pay rise at appraisal time so you can pay it going forwards yourself. JR has taken £1,000,000 out of the senior playing budget and put an improved team on the park 0 Quote Link to comment Share on other sites More sharing options...
Derry Alli Posted October 4, 2019 Share Posted October 4, 2019 Sad to see such a club with so much history going to the dogs. Hopefully the fans can club together and save it. 5 Quote Link to comment Share on other sites More sharing options...
sophia Posted October 4, 2019 Share Posted October 4, 2019 1 minute ago, craigkillie said: All the warbling on about Project Brave and so on is an attempt to shift the blame away from the board and to say "look, the SFA are making us spend all this money". It doesn't wash - every other club is in the same boat and seems to manage without such a gaping hole in finances. ^^^ Central belt bias and its not an attempt to shift blame at all. The fact of the matter is that ICT have substantial extra costs involving travel and time that none of the teams in the orbit of Glasgow have. Its a laying out of the fact that it is unsustainable to continue funding the two departments (youths and seniors) with paltry crowds. Rather than blame, its a promulgation of a truth that what we had can't continue. 0 Quote Link to comment Share on other sites More sharing options...
staggy1929 Posted October 4, 2019 Share Posted October 4, 2019 It would genuinely be a shame if ICT went under, if there's no promotion this year is it safe to assume there'll be a bit of a fire sale in the summer? 0 Quote Link to comment Share on other sites More sharing options...
sophia Posted October 4, 2019 Share Posted October 4, 2019 1 minute ago, staggy1929 said: It would genuinely be a shame if ICT went under, if there's no promotion this year is it safe to assume there'll be a bit of a fire sale in the summer? Nah, not happening. Ryan Christie is heading south and the sell on clause will land ICT a very substantial six figure sum. 0 Quote Link to comment Share on other sites More sharing options...
RiG Posted October 4, 2019 Share Posted October 4, 2019 4 minutes ago, staggy1929 said: It would genuinely be a shame if ICT went under, if there's no promotion this year is it safe to assume there'll be a bit of a fire sale in the summer? If we don't get promoted and if there is no additional funding sources identified I would imagine we will scrap (parts of) our youth setup like Falkirk and Livi have done in recent years and / or see a reduction in the first team budget. 1 Quote Link to comment Share on other sites More sharing options...
staggy1929 Posted October 4, 2019 Share Posted October 4, 2019 Just now, sophia said: Nah, not happening. Ryan Christie is heading south and the sell on clause will land ICT a very substantial six figure sum. That is a very good shout about Christie! Do you think he'll be leaving Celtic soon though? 0 Quote Link to comment Share on other sites More sharing options...
IMMORTAL HOWDEN ENDER Posted October 4, 2019 Share Posted October 4, 2019 Well Orion will put up the spondoolicks this season - if only to put two fingers up to Sutherland. Everton and Leicester keeping tabs on Christie. BUT promotion is the major savior. But young McGregor was represented at the meeting last night as well so appears to be another waiting in the wings or perhaps already a backer. 0 Quote Link to comment Share on other sites More sharing options...
bdu98196 Posted October 4, 2019 Share Posted October 4, 2019 The ICT board really have managed to get educated people creaming about speculation and dreams. Christie could get injured next game and never play again this season or any other - pinning hopes on windfall cash like that for survival is naive. This is why assets at the club need to be considered for sale this season if we are determined not to go for additional cuts to player budgets - whether its been reduced by £1M or otherwise this year (shows whats sort of money was being wasted), there is still scope to cut much further. The board (individuals) are all out for the ego boost of winning promotion back to the Premiership while spinning the ideas of cost and budget savings yet begging to stay afloat. Its a mess - if club survival is the aim then the figures of income V's expenditure don't match and drastic action this summer would have been taken to redress. 0 Quote Link to comment Share on other sites More sharing options...
sophia Posted October 4, 2019 Share Posted October 4, 2019 15 minutes ago, bdu98196 said: The ICT board really have managed to get educated people creaming about speculation and dreams. Christie could get injured next game and never play again this season or any other - pinning hopes on windfall cash like that for survival is naive. This is why assets at the club need to be considered for sale this season if we are determined not to go for additional cuts to player budgets - whether its been reduced by £1M or otherwise this year (shows whats sort of money was being wasted), there is still scope to cut much further. The board (individuals) are all out for the ego boost of winning promotion back to the Premiership while spinning the ideas of cost and budget savings yet begging to stay afloat. Its a mess - if club survival is the aim then the figures of income V's expenditure don't match and drastic action this summer would have been taken to redress. Do you think the chairman resigning and an immediate EGM isn't drastic action? Where would you cut? Would you close down the youth set up? I didn't see any "ego boost" last night, rather there was a degree of humiliation and desperation from Ross Morrison. In the face of that, I saw a man that is honestly trying to retrieve the situation. 0 Quote Link to comment Share on other sites More sharing options...
Ludo*1 Posted October 4, 2019 Share Posted October 4, 2019 Gardiner is the last one that you'd want batting for your team financially. Punted by Dundee because he screwed up getting a shirt sponsor then punted by Hearts as he forgot to order seats for their stadium. 0 Quote Link to comment Share on other sites More sharing options...
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