Ricardo's report AGM 2021

[ricardo 7,385]

The Grapes Hill roundabout improvements did its best to delay me but I set out in good time and went the long way round and arrived in plenty of time to get a good seat. They don't always check that you are a bona fide shareholder but I think there have been a few outsiders creeping in on previous years so this has now become necessary.

I had the pleasure of sitting next to another long time Pinkun messageboard member, Myra Hawtree, who is one of the few who can claim to have a longer memory of events at CR than me. She is obviously a reader of my reports because I had to laugh when she asked me if I came on my bike.😀

Stefan Philips chaired proceedings and we eventually got to the business of re-election of Board members, Tom Smith and MWJ both of whom were re-elected on a show of hands. There were a few disenting votes however from non attendees. The financial statement followed and most will know by now the details of that with transfer income making a small profit from what otherwise would have been a big loss. The main point I took from this was the loss of 30 million due to the ongoing Covid crisis. We then had a short video showing how the club has continued to make improvements despite the financial constraints.

It was inspiring to see and hear the good work our club was involved in with the Community Sports Foundation which seemed to have really expanded its role during the last couple of years. I think we can be rightly proud that we support a club that takes its community work seriously.

There was no sign of the new management team tonight so we had to make do with Board and staff when it came to questions. There was the usual stuff about safe standing, ground enlargement and outside investment and I can't say that I heard anything that I hadn't heard before. They are looking into safe standing and will discuss implictions with supporters. There will be a new stand at some time in the future but they don't know when and they have had ontacts about investment but no camels have yet been sighted.

Stuart Webber confirmed he is staying although he still plans to work abroad at some stage in his life and from what he said I got the impression that it was a rolling arrangement with the owners that would allow him to leave if something big came along. In the meantime he felt he still had work to do to get the club where he wanted it to be. He was asked about the sacking of Daniel Farke and responded that no time was a good time but he felt it was necessary. There was general applause from the meeting as Webber and Delia Smith spoke about their appreciation for all that the previous coaching team had acheived.

At the end Delia asked everyone to stay for a glass of bubbly to celebrate her 25 years association with the club. As Ricardo was driving he reluctantly declined and left.👍

 

Edited November 25, 2021 by ricardo

[ABC (A Basingstoke Canary) 26]

Thanks Ricardo, it was almost as if I was there 🤩

[ricardo 7,385]

2 minutes ago, ABC (A Basingstoke Canary) said:

Thanks Ricardo, it was almost as if I was there 🤩

I bet you would have stopped for the bubbly😉

[ABC (A Basingstoke Canary) 26]

Just now, ricardo said:

I bet you would have stopped for the bubbly😉

Is the pope catholic? 🍾 😇

[Midlands Yellow 3,980]

14 minutes ago, ricardo said:

The Grapes Hill roundabout improvements did its best to delay me but I set out in good time and went the long way round and arrived in plenty of time to get a good seat. They don't always check that you are a bona fide shareholder but I think there have been a few outsiders creeping in on previous years so this has now become necessary.

I had the pleasure of sitting next to another long time Pinkun messageboard member, Myra Hawtree, who is one of the few who can claim to have a longer memory of events at CR than me. She is obviously a reader of my reports because I had to laugh when she asked me if I came on my bike.😀

Stefan Philips chaired proceedings and we eventually got to the business of re-election of Board members, Tom Smith and MWJ both of whom were re-elected on a show of hands. There were a few disenting votes however from non attendees. The financial statement followed and most will know by now the details of that with transfer income making a small profit from what otherwise would have been a big loss. The main point I took from this was the loss of 30 million due to the ongoing Covid crisis. We then had a short video showing how the club has continued to make improvements despite the financial constraints.

It was inspiring to see and hear the good work our club was involved in with the Community Sports Foundation which seemed to have really expanded its role during the last couple of years. I think we can be rightly proud that we support a club that takes its community work seriously.

There was no sign of the new management team tonight so we had to make do with Board and staff when it came to questions. There was the usual stuff about safe standing, ground enlargement and outside investment and I can't say that I heard anything that I hadn't heard before. They are looking into safe standing and will discuss implictions with supporters. There will be a new stand at some time in the future but they don't know when and they have had ontacts about investment but no camels have yet been sighted.

Stuart Webber confirmed he is staying although he still plans to work abroad at some stage in his life and from what he said I got the impression that it was a rolling arrangement with the owners that would allow him to leave if something big came along. In the meantime he felt he still had work to do to get the club where he wanted it to be. He was asked about the sacking of Daniel Farke and responded that no time was a good time but he felt it was necessary. There was general applause from the meeting as Webber and Delia Smith spoke about their appreciation for all that the previous coaching team had acheived.

At the end Delia asked everyone to stay for a glass of bubbly to celebrate her 25 years association with the club. As Ricardo was driving he reluctantly declined and left.👍

 

Were the strippers any good? 

[TIL 1010 4,742]

I must say ricardo i thought Zoe Ward gave an impression that the Club realised the need for redevelopment of the City Stand and talks had taken place with the necessary companies who would possibly be involved to make progress on this long outstanding matter. I know it gets mentioned every year since goodness knows when but i felt we are now at the stage of sooner rather than later.

Edited November 25, 2021 by TIL 1010

[ricardo 7,385]

1 minute ago, Midlands Yellow said:

Were the strippers any good? 

Dreadful.

[ricardo 7,385]

Just now, TIL 1010 said:

I must say ricardo i thought Zoe Ward gave an impression that the Club realised the need for redevelopment of the City Stand and talks had taken place with the necessary companies who would be involved to make progress on this long outstanding matter. I know it gets mentioned every year since goodness knows when but i felt we are now at the stage of sooner rather than later.

We have heard it before Tilly, many times. I don't expect to live to see it.

[Midlands Yellow 3,980]

4 minutes ago, ricardo said:

Dreadful.

 

4 minutes ago, TIL 1010 said:

I must say ricardo i thought Zoe Ward gave an impression that the Club realised the need for redevelopment of the City Stand and talks had taken place with the necessary companies who would be involved to make progress on this long outstanding matter. I know it gets mentioned every year since goodness knows when but i felt we are now at the stage of sooner rather than later.

Tell Ricardo that on the croggy ride. 

Edited November 25, 2021 by Midlands Yellow

[Buendia Than Barnby 50]

No reactions left, but thanks for the update, @ricardo. 👍

[Parma Ham's gone mouldy 2,219]

I was surprised at the lack of questions on the detail of the accounts. 

In due course - perhaps next year in person - I would like to hear more forensic assessment of numbers and how they tessellate - or not - with stated Company objectives.  Also how such numbers and Company objectives pivot on sporting success and how compatible that is with the obligation to operate without overdraft and sell significant assets annually. 

Parma 

[Yobocop 1,098]

11 hours ago, ricardo said:

We have heard it before Tilly, many times. I don't expect to live to see it.

Whilst you’re still around I’ll never need attend an AGM - fantastic write up and thanks as always Ricardo 

[birchfest 397]

11 hours ago, ricardo said:

We have heard it before Tilly, many times. I don't expect to live to see it.

Whilst I wouldn't want to make an assumption of a time frame for either... ahem... issue, Ricardo, I think much depends on where we are next season. We saw the impact that loosing match day revenue during covid had, which goes to show as a club we rely heavily on it, along with the additional commercial income we create at Carrow road, both on and off match days.

 

I'd hedge a bet that if we were to stay up and come next december be in a health position those plans would be accelerated. Especially if we were able to get another big money departure to cover a little bit of the cost, no doubt a bond scheme would also be used after the success of the training ground to help keep any potential bank loans to a minimum.

[ricardo 7,385]

44 minutes ago, birchfest said:

Whilst I wouldn't want to make an assumption of a time frame for either... ahem... issue, Ricardo, I think much depends on where we are next season. We saw the impact that loosing match day revenue during covid had, which goes to show as a club we rely heavily on it, along with the additional commercial income we create at Carrow road, both on and off match days.

 

I'd hedge a bet that if we were to stay up and come next december be in a health position those plans would be accelerated. Especially if we were able to get another big money departure to cover a little bit of the cost, no doubt a bond scheme would also be used after the success of the training ground to help keep any potential bank loans to a minimum.

Excuse my cynicism but I have heard it so many times over the years that I am now immune to the Boards occassional nod in the direction of ground enlargement. Finance will always be the overiding obstacle and pressure to spend on players will always trump moves to expand the ground. I am not expecting to live forever but it might take that long to see a 35k capacity ground.😉

[TIL 1010 4,742]

34 minutes ago, ricardo said:

Excuse my cynicism but I have heard it so many times over the years that I am now immune to the Boards occassional nod in the direction of ground enlargement. Finance will always be the overiding obstacle and pressure to spend on players will always trump moves to expand the ground. I am not expecting to live forever but it might take that long to see a 35k capacity ground.😉

I agree to an extent ricardo but it was the first time i have heard someone on the top table ( Zoe Ward in this case ) state that other parties who would be involved in making it happen had been engaged to come up with proposals. After all Ben Kensell stated a couple of years ago we had purchased the parcel of land at the back of the City Stand and Barclay corner but surely not to just sit on it and do nothing year upon year ?

I have just listened to the Zoe Ward interview posted by Lakey on the AGM tonight thread and at 7 minutes in she talks about this very subject.

Edited November 26, 2021 by TIL 1010

[BroadstairsR 2,164]

The wheels of progress (like those who lurk at the end of Southend pier) grind backwards.

With the absence of any defining statement, just vague thinly detailed referencing of other parties being involved, it would seem to suggested that this matter remains on the back burner and whilst, 'always on Webber's desk' is increasingly being more deeply  buried beneath a plethora of other paperwork.

Edited November 26, 2021 by BroadstairsR

[Graham Paddons Beard 2,431]

10 minutes ago, TIL 1010 said:

I agree to an extent ricardo but it was the first time i have heard someone on the top table ( Zoe Ward in this case ) state that other parties who would be involved in making it happen had been engaged to come up with proposals. After all Ben Kensell stated a couple of years ago we had purchased the parcel of land at the back of the City Stand and Barclay corner but surely not to just sit on it and do nothing year upon year ?

Another viewpoint - if your next door neighbour puts a bit of land up for sale, you might buy it to stop anyone else having it. Imagine the nightmare of not owning that piece of land? The club could be held to ransom later .  

I've no doubt various options are being explored , and ways of raising the money through investors (a  big modern Venue with a decent sized car park becomes an excellent space for lots of other uses so possibly attractive in that way) will be up there. Seems to me that the City lacks a multi use venue. The Emirates for example is used on a daily basis for loads of money generating activities, as is the new Spurs stadium. Its how these things get built rather than just the football side of things. 

There is a lot of money out there. And a lot of people looking for investment return. Imagine that Carrow Road became a fabulous multi use venue , not just a football ground. It is more than possible that the money might come in with plans like that, rather than 7,000 extra seats for a football club. The facilities at Carrow Road are pretty good , but another South Stand (and all of the space it brings) could be very attractive as a package investment. 

Just thinking out loud really....

 

[Graham Paddons Beard 2,431]

By the way thanks Ricardo. Embarrassed to say that I didn't make the trip a due to the weather! Pathetic really. 

Edited November 26, 2021 by Graham Paddons Beard

[TIL 1010 4,742]

2 minutes ago, Graham Paddons Beard said:

Another viewpoint - if your next door neighbour puts a bit of land up for sale, you might buy it to stop anyone else having it. Imagine the nightmare of not owning that piece of land? The club could be held to ransom later .  

I've no doubt various options are being explored , and ways of raising the money through investors (a  big modern Venue with a decent sized car park becomes an excellent space for lots of other uses so possibly attractive in that way) will be up there. Seems to me that the City lacks a multi use venue. The Emirates for example is used on a daily basis for loads of money generating activities, as is the new Spurs stadium. Its how these things get built rather than just the football side of things. 

There is a lot of money out there. And a lot of people looking for investment return. Imagine that Carrow Road became a fabulous multi use venue , not just a football ground. It is more than possible that the money might come in with plans like that, rather than 7,000 extra seats for a football club. The facilities at Carrow Road are pretty good , but another SOUTH STAND (and all of the space it brings) could be very attractive as a package investment. 

Just thinking out loud really....

 

Forget the South Stand as Zoe Ward quite clearly spoke of redevelopment of the City Stand last night GPB.

[A Load of Squit 5,162]

Was there a 'Thousand share ownersip VIP' area?

[GenerationA47 751]

Just now, A Load of Squit said:

Was there a 'Thousand share ownersip VIP' area?

I understand there was, in a corner of Essex

[Graham Paddons Beard 2,431]

4 minutes ago, TIL 1010 said:

Forget the South Stand as Zoe Ward quite clearly spoke of redevelopment of the City Stand last night GPB.

No , I'm saying imagine the City stand as a replica of the South Stand, and all the non football activity that can bring with it . 

 

[TIL 1010 4,742]

6 minutes ago, Graham Paddons Beard said:

No , I'm saying imagine the City stand as a replica of the South Stand, and all the non football activity that can bring with it . 

 

Fair enough but you made no mention of The City Stand by name in your post and i wrongly assumed you were talking about further development to the existing South Stand which is often mentioned by some on here.

[Graham Paddons Beard 2,431]

4 minutes ago, TIL 1010 said:

Fair enough but you made no mention of The City Stand by name in your post and i wrongly assumed you were talking about further development to the existing South Stand which is often mentioned by some on here.

Nope. Took it as read that we are all talking about the City Stand. (and corners) 

 

 

[ricardo 7,385]

1 hour ago, TIL 1010 said:

I agree to an extent ricardo but it was the first time i have heard someone on the top table ( Zoe Ward in this case ) state that other parties who would be involved in making it happen had been engaged to come up with proposals. After all Ben Kensell stated a couple of years ago we had purchased the parcel of land at the back of the City Stand and Barclay corner but surely not to just sit on it and do nothing year upon year ?

I have just listened to the Zoe Ward interview posted by Lakey on the AGM tonight thread and at 7 minutes in she talks about this very subject.

Well Tilly, we live in hope but the pace of progress is very slow.

[Graham Paddons Beard 2,431]

"What the rest of the Carrow Road site would look like" 

That's a nod to "Venue" rather than football ground. 

 

 

[Mr Angry 1,555]

14 hours ago, ricardo said:

 

At the end Delia asked everyone to stay for a glass of bubbly to celebrate her 25 years association with the club. As Ricardo was driving he reluctantly declined and left.👍

 

I’m a bit worried that you referred to yourself in the third person at the end of your report 🤣🤣🤣

[dylanisabaddog 4,920]

6 minutes ago, Mr Angry said:

I’m a bit worried that you referred to yourself in the third person at the end of your report 🤣🤣🤣

Ricardo is allowed to do that as befits his status. We should probably be more concerned that he didn't go on his bike🙄

[GenerationA47 751]

5 minutes ago, dylanisabaddog said:

Ricardo is allowed to do that as befits his status. We should probably be more concerned that he didn't go on his bike🙄

Yeah, right, hope the hernia rumours are entirely unfounded 😕

[chicken 2,624]

I've just seen the rest of the convo...

It was pretty clear to me we were talking about the City Stand.

Edited November 26, 2021 by chicken