Seems crazy to me given the obvious financial difficulties at the club that we have still not released season tickets on sale.
Football League clubs with governance issues
- Thread starter blueworm
- Start date
Captainreblue
Vital 1st Team Regular
So what were the excuses of late accounts being filed before covid?
I really hope the ship that Scally talked about being ready to sail isn't the fucking titanic.
The ticketing system still not being ready and still no ST announcement and now this embargo is setting a few alarm bells ringing.
I really hope the ship that Scally talked about being ready to sail isn't the fucking titanic.
The ticketing system still not being ready and still no ST announcement and now this embargo is setting a few alarm bells ringing.
LockdownLife
Vital Squad Member
Would all the ST refund options have anything to do with the accounts? Would WXs for example now be a debt/liability?
Hopefully this will mean accounts are filed on time in future. Can’t remember the last time they were on time. Not sure if the 2nd breach refers to the EFL loan - perhaps we’ve not paid back a certain amount by a certain date?
LockdownLife
Vital Squad Member
I was thinking about that. Surely the EFL weren't expecting clubs to pay back parts of the loan before they were even allowed fans in again? Seems mightily harsh to me.
rambolerambole
Vital Youth Team
It suggests that may the Scally Train is finally losing steam and that there are no more wet cloths to wring out for cash for our Chairman.
He has had a good run. If he cant run the club because he doesn't have the resources he should move on but i doubt he will.
He has had a good run. If he cant run the club because he doesn't have the resources he should move on but i doubt he will.
LockdownLife
Vital Squad Member
I always have faith in Scally to run GFC properly. Besides I doubt we're inundated with people wanting to take over.
Captainreblue
Vital 1st Team Regular
Filing accounts late is not running a business properly. It may be common practice for some though.
Jerryattrick
Vital Football Hero
We always are late so whats different this year? Is it just a rule being tightened up and if so then does not change scallys ability to run the club at all.
shotshy
Vital Champions League
Stick a bid in then.
Put your money where your mouth is.
If you have as much dosh as you have gob, then we’ll be in safe hands
Trev_GFC
Vital 1st Team Regular
There’s little in the accounts (once they finally get published!) to cause me concern over Scally’s leadership, other than he pays himself £50k or so more than average.
You just look at the likes of Bournemouth being taken over by a rich foreigner who wants to do some money laundering, and think the easy way to the Premier League is for the owner to throw money at it.
I’m hoping this new ticket system (presumably brought in at cost) will make it easier and more attractive for fans to watch Gills and put money into the club. And that’s the way it should be.
You just look at the likes of Bournemouth being taken over by a rich foreigner who wants to do some money laundering, and think the easy way to the Premier League is for the owner to throw money at it.
I’m hoping this new ticket system (presumably brought in at cost) will make it easier and more attractive for fans to watch Gills and put money into the club. And that’s the way it should be.
Trev_GFC
Vital 1st Team Regular
At this rate I reckon the self serve taps will be switched on before they announce the season ticket prices!
GillsBluenose
Vital Football Hero
He has never put his private resources in to the club. He paid £1 for it from receivers/liquidators, providing personal guarantees. Since then he has used his business acumen and, to be fair to him, has got the club on a much more even keel than a benefactor like Tony Smith did previously.
It is what it is. However, the fact that can not be avoided is that Smith put money in and employed people to run the club, whereas Scally now runs it autocratically and takes out a remuneration annually.
I agree that no one is likely to show any interest unless they can buy the club lock, stock and barrel for a price that represents the true audited value of its remaining assets whereas I think Scally will always be looking for a premium to be paid.
Trev_GFC
Vital 1st Team Regular
I started supporting Gills when Tony Smith had stepped aside (then sat behind him when the Rainham End was rebuilt). Did he put more money into the club than the £750k-odd that needed to be paid back to him when Scally took over?
chris who
Vital Champions League
Sad news let's hope we come out of the transfer embargo soon.Little or no signings till August me thinks.Could start the season with a wafer thin squad then add to it as soon as the embargo is lifted which I assume will be about a month's time.Two more weeks to finish the accounts and then two weeks for the EFL to study them.
GillsBluenose
Vital Football Hero
I can not say that I am certain about that but it was widely reported that Scally only had to pay £1 for the club, at a time when the supporters club had to find the £5,000 needed to buy Leo Fortune-West.
If £750k was repaid to Tony Smith, I am not sure how it was funded (was he regarded as a secured creditor due to a mortgage over the ground, possibly?), plus this article indicates he actually put in £1.55 million:
Uncertain future turns fans green about the Gills | Football | The Guardian
D
Deleted member 13556
Guest
Was it only a £1? Im pretty sure he had to pay the creditors 26p in the £1 to acquire the club!
markinkent
Vital Football Hero
Not how I read it Chris. We can sign up to 23 players. We can have loans but we can't pay loan fees or pay more than their home club wages. I doubt if we did either of those things anyway.
