Members Login
Username 
 
Password 
    Remember Me  
Official Welling Site -> - Welling United Fans Forum -> Welling United Fans Forum -> chelmsford city apparantly 1.2m in debt
Post Info TOPIC: chelmsford city apparantly 1.2m in debt
JgFc


troll catcher

Status: Offline
Posts: 11491
Date:
chelmsford city apparantly 1.2m in debt
Permalink  
 

see their forum. ebbsfleet reportedly had 400k outstanding loans. whilst i dont believe ours are the 60k to 100k mooted at first meeting i would guess they are less than 250k. Its possible chelmo will go into a cva. How will claret kim spin that when she slaughtered welling for having players they cant afford. 1.2 million ffs no wonder theyve blown up.

__________________

Alexander O'Neal 1987 "I'm fed up cos all you wanna do is criticize "

Trollspotting

 

 

 

 

 

 

 
JgFc


troll catcher

Status: Offline
Posts: 11491
Date:
RE: chelmsford city apparantly 1.2m in debt
Permalink  
 

bruno can you add the links as i am posting from a mobile device. ta

__________________

Alexander O'Neal 1987 "I'm fed up cos all you wanna do is criticize "

Trollspotting

 

 

 

 

 

 

 
JgFc


troll catcher

Status: Offline
Posts: 11491
Date:
RE: chelmsford city apparantly 1.2m in debt
Permalink  
 

Oh.. just read... Its opbv different when Chelmo owe 1.2 million (according to Gary Mixture) Claret Kim says this...

Claret Kim
#44 [url] [-]


Posts: 2888
Wed, 9-Mar-11 22:53
JASON MAHER wrote:
Why shouldn't the club pay back loans they promised to return!


My understanding is that they are currently managing their debt situation prudently

------------------------------------------------------------------------------------------------------------

Sorry but welling owed 109k to the HMRC and PAID it... Chelmo owe 1.2million alledgedly so please tell me which club has been paying for teams they cant afford for the longest and continues to do it? Surely Chelmo should immediately release all players and play the kids, unless they can pay the 1.2 million like welling paid the 109k?

Im astounded Claret Kim doesnt feel the same given the scathing attack on Welling earlier in the season for weeks.




__________________

Alexander O'Neal 1987 "I'm fed up cos all you wanna do is criticize "

Trollspotting

 

 

 

 

 

 

 
Kevin


Club Legend

Status: Offline
Posts: 3008
Date:
RE: chelmsford city apparantly 1.2m in debt
Permalink  
 

I would hardly say they have "blown up" though Tom ... look at their recent results ... but also look at who they have played ... it was a tough run.

Re: debt ... bad news if true.

__________________

Thou shalt support Welling and Faz
ben281032


Club Captain

Status: Offline
Posts: 794
Date:
RE: chelmsford city apparantly 1.2m in debt
Permalink  
 

Who is the money owed to though?
Somemone on the Connie South forum says that a lot of it is owed to the local council and some is related to relocating back to chelmsford.
Ours is/was owed to HRMC, who have/had the power to wind us up.

__________________
JgFc


troll catcher

Status: Offline
Posts: 11491
Date:
chelmsford city apparantly 1.2m in debt
Permalink  
 

If you have debts of this size i would suggest you shouldnt be at this level having one of the top 3 or 4 budgets in the league.

100k is bad enough... 1.2 million?

I hope they pull through as most of their fans were sympathetic to us and hoped we got through, a few went mad about not being able to afford the team we have, its interesting how those fans react to Chelmos debts, when they stated chelmo is not in debt and lives within its means.

Its 100% clear they cannot afford the team they have or the budget they have being their debts are so massive.


-- Edited by JgFc on Thursday 10th of March 2011 02:35:24 PM

__________________

Alexander O'Neal 1987 "I'm fed up cos all you wanna do is criticize "

Trollspotting

 

 

 

 

 

 

 
ben281032


Club Captain

Status: Offline
Posts: 794
Date:
RE: chelmsford city apparantly 1.2m in debt
Permalink  
 

It's been said though that it's a managable debt and they're breaking even for the season.
Aren't our problems caused because our outgoings are higher than our income?

__________________
JgFc


troll catcher

Status: Offline
Posts: 11491
Date:
chelmsford city apparantly 1.2m in debt
Permalink  
 

ben their figures show they lost over 140k trading over the last 2 seasons. A lot maybe council and loans but they have been losing massive amounts last two seasons 100k 2 years ago and 50k last season.

-- Edited by JgFc on Thursday 10th of March 2011 04:41:44 PM

__________________

Alexander O'Neal 1987 "I'm fed up cos all you wanna do is criticize "

Trollspotting

 

 

 

 

 

 

 
ben281032


Club Captain

Status: Offline
Posts: 794
Date:
RE: chelmsford city apparantly 1.2m in debt
Permalink  
 

Well then someone is telling porkies!
It would be interesting to hear what the league make of this.

__________________
bruno


Moderator

Status: Offline
Posts: 4158
Date:
RE: chelmsford city apparantly 1.2m in debt
Permalink  
 

Sorry JgFc not been around but for those interested the links are

Essex Chronicle article pre publication forum thread
Essex Chronicle article
Essex Chronicle article post publication forum thread

__________________

YOUTH are the future

****

"The worst thing you can do is make a committment and not meet it and I understand that."  Barrie Hobbins 14 August 2010

 
Kevin


Club Legend

Status: Offline
Posts: 3008
Date:
RE: chelmsford city apparantly 1.2m in debt
Permalink  
 

According to the above it could break even this year. Thats could. So its just as likely it wont. How can something just breaking even ever expect to make a dent in 1.2mil. Thats not something the supporters could ever raise like we did for 64k. Even if they went up the costs would raise so much with travel, wages, security for bigger gates at home in the Conference, etc.

There is no chance of clearing that money in a decade without an FA Cup 3rd Round like Havant had.

Im sure there will be others over the next 24months.

In a way, I am glad we are now one of the first to come out with our financial problems, anyone hanging on in there for the next year or so and then announcing big loses, the general public will gradually lose interest in the mad world of football finance.

__________________

Thou shalt support Welling and Faz
Dogme


Club Legend

Status: Offline
Posts: 1394
Date:
RE: chelmsford city apparantly 1.2m in debt
Permalink  
 

Right well, **** Chelmsford and now we don't have a transfer embargo in place, maybe there is some way we can do a financially prudent deal and get one of their players :)

__________________
peter foster


Youth Team

Status: Offline
Posts: 79
Date:
RE: chelmsford city apparantly 1.2m in debt
Permalink  
 

Sorry to disappoint you guys but the overwhelming majority of our 1.2m debt is made up either of a long term interest free loan from the Council or advances from current and former Directors which will be converted into equity when the club achieves CIC status. All our other debts are being paid off as they become due, including sums payable to HMRC....

__________________

Peter Foster - Chelmsford City FC
JgFc


troll catcher

Status: Offline
Posts: 11491
Date:
RE: chelmsford city apparantly 1.2m in debt
Permalink  
 

Pierre

I cant be arsed to find the figures

Kindly confirm to me your club has lost around/over 150k in the last 2 season specifically attributed to the running costs of the football team. So to spin the figures as being old loans etc and to be turned into equity is quite irresponsible, especially as Stroudy wants his dosh out.

Cheers



__________________

Alexander O'Neal 1987 "I'm fed up cos all you wanna do is criticize "

Trollspotting

 

 

 

 

 

 

 
peter foster


Youth Team

Status: Offline
Posts: 79
Date:
RE: chelmsford city apparantly 1.2m in debt
Permalink  
 

JgFc wrote:

Pierre

I cant be arsed to find the figures

Kindly confirm to me your club has lost around/over 150k in the last 2 season specifically attributed to the running costs of the football team. So to spin the figures as being old loans etc and to be turned into equity is quite irresponsible, especially as Stroudy wants his dosh out.

Cheers


Stroudy does indeed want his dosh out and this is happening. The amount involved though is small in relation to the £1.2m overall debt. I effectively covered this in the posting to which you responded when I stated "the overwhelming majority of our 1.2m debt is made up either of a long term interest free loan from the Council or advances from current and former Directors which will be converted into equity when the club achieves CIC status."

I too haven't got the figures to hand, Tom, but I can assure you that we have not lost money this season. Of course, the profit and loss account figure in any given period can be manipulated by the transfer of monies to and from the "donations" and "directors' loans" accounts although I'm not suggesting for a moment that this has happened at Chelmsford City.... 



__________________

Peter Foster - Chelmsford City FC
Page 1 of 1  sorted by
 
Quick Reply

Please log in to post quick replies.
Official Welling Site -> - Welling United Fans Forum -> Welling United Fans Forum -> chelmsford city apparantly 1.2m in debt
Tweet this page Post to Digg Post to Del.icio.us


Create your own FREE Forum
Report Abuse 		Powered by ActiveBoard