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Lessingham Canary

Ed Balls tweet...........

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I wasn''t at the AGM but it was apparently reported that there was a legal stipulation that meant the shares bought by Balls and Smith Jnr had to be at the nominal price of one pound rather than what is (or was) the going rate of one hundred pounds, although it is not obvious from previous years'' accounts  that other new directors only paid one pound. As to Balls and his 90,000 pounds, that seems pretty simple. Yes, they said Stone would fill in, but when it came to it, what with Stone having a full-time job as finance chief, the other directors deemed Balls'' contribution, which included finding a new CEO, deserved some recompense.

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[quote user="PurpleCanary"]I wasn''t at the AGM but it was apparently reported that there was a legal stipulation that meant the shares bought by Balls and Smith Jnr had to be at the nominal price of one pound rather than what is (or was) the going rate of one hundred pounds, although it is not obvious from previous years'' accounts  that other new directors only paid one pound. As to Balls and his 90,000 pounds, that seems pretty simple. Yes, they said Stone would fill in, but when it came to it, what with Stone having a full-time job as finance chief, the other directors deemed Balls'' contribution, which included finding a new CEO, deserved some recompense.[/quote]Exactly.

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[quote user="morty"][quote user="Indy"][quote user="morty"][quote user="Indy"]Not having that, it was touted as a non payment role, it wasn''t regardless how you paint it.

Had he actually done something to contribute to earning that that''s fine, but really struggling to see what he''s actually done to earn 90k.[/quote]He stood in, in the role of CEO. The money was given to him by the club, in recognition of the long hours he put in doing so. He didn''t ask to be paid, but the club insisted he was paid the going rate. Which was actually less than they would have paid McNally to do it.[/quote]

Which is totally contradicting the press at the time on the city web Stone was appointed interim CEO, funny that at the AGM it changed to suite the 90k payment.

We can all read into things what we want to see, my view is different to yours on this one Morty.[/quote]But thats what happened, it was stated at the AGM.Facts, not views.Are you saying the club has lied to us?[/quote]

It is not a fact because he was NOT the interim CEO. Stone was. It may or may not be a fact that he did some CEO type work and that is why they paid him but frankly I don''t believe a word they say at the moment. He of course claims he tried to turn it down but the others were insistent he take it. Laughable.

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It seems Balls was paid 90k to broker Alex Neil''s £2million bonus for getting sacked.

You have to question why after relegation Neil''s contract was an urgent priority? And why did Balls, a man with no footballing background get handed the responsibility?

Wed 27th July:

Meanwhile, until Jez formally takes up his duties with us, Steve Stone will continue as Interim Chief Executive. The Board would like to place on record our sincere gratitude for the excellent job Steve has done leading the club through this period of transition.

– ED BALLS, NORWICH CITY CHAIRMAN

Such an excellent job I thought i''d step in and pocket 90k. Thanks Delia.

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When''s the Carra ''Evening with Ed Balls'' ?......Anyone going?........I missed him on strictly and also him turning on the City Xmas lights.......Anyone got his book?......Anyone going to see him on the strictly tour?......Wotta Guy!

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I don''t think that is acceptable Morty. He shouldn''t have been paid the money and he should not have accepted it even if that is how it transpired. To be honest I''m dubious about the whole episode.

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[quote user="Jim Smith"]I don''t think that is acceptable Morty. He shouldn''t have been paid the money and he should not have accepted it even if that is how it transpired. To be honest I''m dubious about the whole episode.[/quote]What if I told you that your stance on this really doesn''t surprise me?[;)]

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[quote user="the man"]does morty work for the club?,because his defence of them is unbelievable!!![/quote]No I don''t.Crazy though eh, a fan sticking up for the football club he supports.Whatever next?

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Ed Balls statue outside the Galway Roast Stand?

Or even a rotating Ed Balls statue, the first rotating Ed Balls statue in the world?

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[quote user="STAN"]It seems Balls was paid 90k to broker Alex Neil''s £2million bonus for getting sacked.

You have to question why after relegation Neil''s contract was an urgent priority? And why did Balls, a man with no footballing background get handed the responsibility?

Wed 27th July:

Meanwhile, until Jez formally takes up his duties with us, Steve Stone will continue as Interim Chief Executive. The Board would like to place on record our sincere gratitude for the excellent job Steve has done leading the club through this period of transition.

– ED BALLS, NORWICH CITY CHAIRMAN

Such an excellent job I thought i''d step in and pocket 90k. Thanks Delia.[/quote][Y]Precisely!

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I may be wrong but I thought this 90 grand was a payment for work done in the early part of the year. I think the words MWJ used were when we were a bit short of people but that''s my memory and not a direct quote. If it''s for May, June and July unless it was a post balance sheet event it would not have all been in the 2016 accounts.

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"it emerged at the club’s November AGM that Balls was paid £90,000 for helping to run the club in the summer after former chief executive David McNally left"

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We may not like it but club money is shareholders money which is mainly Delia and co. They are chucking it away like it is water and it would not surprise me at this direction of travel they will lose a packet over the next couple of seasons.

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I can only tell you what was tweeted live from the AGM

Paddy Davitt @paddyjdavitt

2nd question re: second director who earned a fee of £90k pa in this financial period, over and above David McNally #ncfc

Paddy Davitt @paddyjdavitt

Michael Wynn Jones confirmed the paymt was to Ed Balls for acting CEO work following McNally''s departure #ncfc

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Nutty I think,(idk) that it was a pre accounts payment, because leading up to the agm the £90000 payment had been noticed in the accounts as there were quite some rumblings on here about who the money had been paid to. I''m not sure - but do believe- that this was mentioned at the agm due to a question being asked about it.

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Ok. So what was winny talking about when it came up and he said they were a bit shorthanded earlier in the year.

And had we better brace ourselves for 90grandgate part 2 in November?

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I don''t have any objection to the £90k thing. If he was doing work above and beyond the unpaid Chairman role then that is fine.

It wasn''t helped by the club saying Stone was acting CEO then claiming Balls was being paid for doing that exact same job but I don''t believe those at the club are just flat our lying to shareholders.

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[quote user="king canary"]I don''t have any objection to the £90k thing. If he was doing work above and beyond the unpaid Chairman role then that is fine.

It wasn''t helped by the club saying Stone was acting CEO then claiming Balls was being paid for doing that exact same job but I don''t believe those at the club are just flat our lying to shareholders.[/quote][Y]I think some folks are desperate to believe they have been misled though...

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I was half expecting it to have been paid to nephew Tom tbh- if that had been the case I think that might have been the end for me.

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