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Speculation about 25 year season ticket situation

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May 18, 2005
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#1
I've been adding 2 and 2 together and possibly coming up with 5, but here's a thought I've had on why Julian Rhodes is coming forward with this proposal now.

The 25 yearers who were paying the club on a monthly basis have, to the best of my knowledge, had their payments put in to a trust fund which is not available to the Club to use until the situation is resolved to the satisfaction of the administrators. This has been happening since the time we first went in to administration approximately 3 years ago.

Let's say that 300 of the 25 yearers were on this scheme at £45 a month and have continued to pay for 36 months. That gives

300 x 45 x 36 = £486,000

Approximately half a million pounds sat in a bank account that the Club can't use until the situation is resolved.

If the current proposal is passed, and let's say 700 of the 25 yearers renew, then that gives a further income of 700 x 150 or £105k over the next 12 months.

I could be wrong, and I'm doing this from work so I don't have a copy of the CVA to refer to, but I'm going to take another look when I get home tonight.
 

Rick

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May 18, 2005
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#2
One thing I noticed on the OMB is that people were asked to E-mail the club with any queries they had about the proposal but they received a standard reply saying their questions wouldn't be answered till the deadline had passed.

The reply when something like this

Bradford City Automated Responce Machine said:
Thank you for your recent response to the 25-year season ticket holder announcement.

As you are aware, we have set a deadline of 30th September 2005 for response sheets to be returned. At that point we will review the situation and formulate appropriate responses as necessary in the following weeks. As the 2005-2006 season is designated as a free season, we will respond as soon as it is practicable.

Thanks for your concerns and comments so far.

Bradford City Football Club Ltd
What help is that for someone who doesn't understand how to fill out the form or would like something clarifing before replying? :confused: :confused: :confused: :confused:

Answers on a postcard please!

BTW - Free season, PMSFL (£2650/5 = £530 per season so far, funny free)
 

Rick

C&B Member
May 18, 2005
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#3
Proposal I'd be willing to accept and it would be a hell of a lot cheaper than that proposal been thrown about at present.

If there is £500,000 floating about in a trust fund then divide that between the 25years roughly £500 each, give the 25 years next season free and call it quits. I'd be happy with it.

£2,150/6 =£358 which is slightly more that what a season ticket has been for the last few season but this thing won't be drawn out any longer than 2007.

The club would get more money in the long run than running the scheme proposed but one massive benefit would be that this is put behind us for good.
 
May 18, 2005
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#4
Thing is that the Club needs cash flow. I'll bet that half a million is already spoken for, and it isn't earmarked for the 25 yearers.

Any proposal is going to be one that generates on-going cashflow, not one that takes away from it.

It will be interesting to see how many 25 yearers don't renew next year if they have to pay 50%. I know quite a few who paid it under protest as a one off last year but don't intend to do it again or on any kind of ongoing basis.

Any proposal short of honouring the tickets in full is going to have some people rejecting it, and stopping going down. At some point the 'pie, pint and friends brought along' money lost from this is going to cancel out the benefit of the surplus revenues generated on a yearly basis. Then they may have to re-think their proposal.

The Club haven't really indicated what the criteria is for saying the proposal is accepted. CVA proposals have to be accepted by 75% by value of the creditors. Presuming that all 25 year season ticket holders have approximately the same value (I know some have stopped their payments previously, but for simplicity's sake) that would mean that more than 250 rejecting it stops it from being acceptable to the administrators.
 
G
#5
you may well be nearer the truth than anything else I've heard BB , maybe they want the half million to pay for the nes Commercial Managers staff and Ideas lol !
 
#7
baldbantam said:
Whether these will receive an answer or not is another matter entirely.
Dont worry Baldy, they've just been passed on to Jim Bowen!;)
I could here them hit the "waste paper basket" from Thornton!:D
 
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