I predicted last summer that they would be bust by May! Now i may have been wrong but they have launched a number of big cash appeals recently and they have been selling £1,000 3 year season tickets. So whilst i may have been wrong about the timing i was clearly not wrong about roughly when they would run out of money. You can only sell a 3 year seson ticket once and they can not survive with the begging bowl appeals to diminishing crowds.
They are running on fumes. They will not last to the end of next season, let alone another 3!
They appear to reached the bottom.... had the previous board / general manager still been in charge they'd have gone under, such was their incompetence. There were around 5 friends of the General Manager, er I mean five employees of the club on around 30K each plus the GM on 35K. Doesn't take a genius to work out the way that was going...... the one thing I can't understand is how fans couldn't add up the maths too - think they were all just swept under the euphoria of getting into their own ground to look what was going on behind their backs (as an awful lot of it was behind members backs, ignore all the 'one member one vote' and 'clear and transparent' nonsense)
The new CEO has come in and he is on around 50K but without the other hangers on that is around 130K saving a year at a stroke.
They are waiting for the results of one, maybe two big funding applications - if they get the nod on those, that will set them up for a couple of years. If they don't get the nod then they are potentially in shit street. Their survival is very much dependent on the results of these bids for funding.
If they can get more revenue from non playing activities then that will be a bonus as the function room has been hugely over estimated in terms of bringing in a return. They had a full time bar manager on a hefty wage and the place was barely open outside of match day (and then he was allegedly helping himself to the till too!).
I saw a comment on a messageboard the other week that cracked me up, one of them (talking about how they can get more business into the function room) saying ''we are right next to the biggest cemetery in North Manchester - they should be lining up to come in here after the funeral...''
How many of you reading this have ever been to a funeral and the place you go to afterwards is the nearest venue to the crem / cemetery? You either go back to the house of a relative or your local boozer, but this clown feels the first thing anyone in North Manchester should think of after a loved one has died, is to book into Pallet Park!
The final problem they have is the support is dwindling / losing heart from a dire season on the pitch along with the off field issues too, splitting fans into cliques depending on if they are pro / anti the old / new regime. The old regime caused a lot of damage financially and lost a lot of goodwill among fans, many of whom gave up hard earned cash and put it into investment schemes (that they might not see again) and volunteered many hours of unpaid work - all as certain other people lined their own pockets whilst performing badly at whatever task they were paid to do and running the club into the ground at the same time.