Post by Jon on Apr 29, 2018 23:24:17 GMT
Eastleigh's owner Stewart Donald to depart in order to take over at Sunderland.
www.eastleighfc.com/statement-a-message-from-stewart-donald/
I am sure Kelvin Thomas would offer him the brilliant advice only to consider lifelong Eastleigh fans with over £1 million in ready cash.
Good to see this in the statement:
It is vital to ensure that the club continues to provide affordable football and progresses on the field whilst incurring absolutely no debt. I always ensured Eastleigh was run without debt and that any money provided was never going to create any debt.
Good advice there. If an owner is only lending the club money, it is all bound to end in tears. Could be easier said than done though.
I have read people banging on about how sustainable Eastleigh are but the accounts paint a different picture.
The year to 31/5/17 saw an eye-watering loss of £1.93 million! Even Colin Lee never managed to lose that much in a year!
The year to 31/5/17 saw a staggering £9.3m of share capital pumped in. This went on the huge operating loss, a further £2.4 million of capital expenditure, capitalising the the £2.85m loan to cover previous years' losses and leaving £2.25 million in the bank. I wonder how much of that is left a year later.
Stewart Donald was a benevolent benefactor just as Thea Bristow was, but he may well be an impossible act to follow. There was a huge amount of whining in certain quarters that Thea did not leave the club not only debt-free but free of any future liabilities. I am sure that Eastleigh's ongoing liabilities are far less manageable than Torquay's were when Thea left.
www.eastleighfc.com/statement-a-message-from-stewart-donald/
I am sure Kelvin Thomas would offer him the brilliant advice only to consider lifelong Eastleigh fans with over £1 million in ready cash.
Good to see this in the statement:
It is vital to ensure that the club continues to provide affordable football and progresses on the field whilst incurring absolutely no debt. I always ensured Eastleigh was run without debt and that any money provided was never going to create any debt.
Good advice there. If an owner is only lending the club money, it is all bound to end in tears. Could be easier said than done though.
I have read people banging on about how sustainable Eastleigh are but the accounts paint a different picture.
The year to 31/5/17 saw an eye-watering loss of £1.93 million! Even Colin Lee never managed to lose that much in a year!
The year to 31/5/17 saw a staggering £9.3m of share capital pumped in. This went on the huge operating loss, a further £2.4 million of capital expenditure, capitalising the the £2.85m loan to cover previous years' losses and leaving £2.25 million in the bank. I wonder how much of that is left a year later.
Stewart Donald was a benevolent benefactor just as Thea Bristow was, but he may well be an impossible act to follow. There was a huge amount of whining in certain quarters that Thea did not leave the club not only debt-free but free of any future liabilities. I am sure that Eastleigh's ongoing liabilities are far less manageable than Torquay's were when Thea left.