3canaries 0 Posted May 21, 2009 I was told last night that we don''t have any money to pay the wages this month, and that Directors are being asked to add sum funds to the coffers. Also, even though Mumby and Doncaster have ''left'' the club, they are still Directors (if you know employment law this comes under section 8 of Directorships).This was an absolute 100% reliable source, so I now feel guitly having just received my season ticket refund of £90 last week (for not renewing next season - they had kept taking the direct debit).I really do think it is much more serious than we all believe. Share this post Link to post Share on other sites
spm2866 0 Posted May 21, 2009 Didn''t realise it was April 1st! OTBC since 1969R.I.P Dad 1939-2008 Share this post Link to post Share on other sites
The Butler 0 Posted May 21, 2009 [quote user="3canaries"]I was told last night that we don''t have any money to pay the wages this month, and that Directors are being asked to add sum funds to the coffers. Also, even though Mumby and Doncaster have ''left'' the club, they are still Directors (if you know employment law this comes under section 8 of Directorships).This was an absolute 100% reliable source, so I now feel guitly having just received my season ticket refund of £90 last week (for not renewing next season - they had kept taking the direct debit).I really do think it is much more serious than we all believe.[/quote]If they haven''t got money at this stage when renewals have been happening then the club would be in a very bad state!Don''t believe this at all! Share this post Link to post Share on other sites
Badger 0 Posted May 21, 2009 Anybody else with reliable sources heard anything similar? Share this post Link to post Share on other sites
rjwc22 0 Posted May 21, 2009 This sounds pretty dubious. Think if finances were in that poor a state, the club would have made more fuss about trying to keep the season ticket rebate. Share this post Link to post Share on other sites
Official Joe 0 Posted May 21, 2009 My brother in law didn''t mentio anything last night but not sure when he gets paid. Share this post Link to post Share on other sites
Bobert 0 Posted May 21, 2009 I suspect that with no Chief Executive getting someone to sign cheques is not easy. Roger Mundy is still about but he will hardly be falling over himself to perform that function considering his treatment and I don''t think he is very well.. Michael and Delia spend a lot of time at their Londond flat so they are not going to be easy to contact and I doubt Michael Foulger will sign anything without Delia''s say so.If there is a problem its probably about transfering money from one account to another, Share this post Link to post Share on other sites
rjwc22 0 Posted May 21, 2009 Probably transferring from the transfer kitty! Share this post Link to post Share on other sites
newboy 0 Posted May 21, 2009 Absolute Rubbish ! You should be embarressed for even posting this. Share this post Link to post Share on other sites
Bobert 0 Posted May 21, 2009 [quote user="newboy"]Absolute Rubbish ! You should be embarressed for even posting this. [/quote]Well New Boy I have been running companies for nearly 50 years from the very big to the very small and I assure you that is how the system works! Banks work on a system of authorised signatures and overdraft limits. Both are authorised by the Directors whose word is God! Share this post Link to post Share on other sites
3canaries 0 Posted May 21, 2009 [quote user="newboy"]Absolute Rubbish ! You should be embarressed for even posting this. [/quote]Why?, I don''t make it a habit of posting nonsense. The finance team at our beloved club, headed by the FD are really struggling. I''d love to be more constructive with this post, but it''s the hard truth.Surely you cannot be in denial NewBoy? Share this post Link to post Share on other sites
newboy 0 Posted May 21, 2009 [quote user="Bobert"][quote user="newboy"] Absolute Rubbish ! You should be embarressed for even posting this. [/quote]Well New Boy I have been running companies for nearly 50 years from the very big to the very small and I assure you that is how the system works! Banks work on a system of authorised signatures and overdraft limits. Both are authorised by the Directors whose word is God![/quote]Sure your right mate, my comment was aimed at the first post, not yours, Share this post Link to post Share on other sites
pennywise 0 Posted May 21, 2009 no doubt first wizard will take this as absolute gospel truth and base 5 new threads a day on it until its proved otherwise [:D] Share this post Link to post Share on other sites
Bobert 0 Posted May 21, 2009 [quote user="newboy"][quote user="Bobert"][quote user="newboy"] Absolute Rubbish ! You should be embarressed for even posting this. [/quote]Well New Boy I have been running companies for nearly 50 years from the very big to the very small and I assure you that is how the system works! Banks work on a system of authorised signatures and overdraft limits. Both are authorised by the Directors whose word is God![/quote]Sure your right mate, my comment was aimed at the first post, not yours, [/quote]Thanks!Credit control is absolutely vital at a time like this. Knowing who to pay, and when, means the diference between keeping a company afloat and it sinking into Administration. Its a question of confidence by both banks and suppliers. The Directors were very foolish to retire the Chief Executive without replacing him and they need to name his replacement quickly....... even then a good guy will not be able to join NCFC for at least 3 months due giving notice, etc.. Share this post Link to post Share on other sites
Camuldonum 0 Posted May 21, 2009 [quote user="Bobert"][quote user="newboy"][quote user="Bobert"][quote user="newboy"] Absolute Rubbish ! You should be embarressed for even posting this. [/quote]Well New Boy I have been running companies for nearly 50 years from the very big to the very small and I assure you that is how the system works! Banks work on a system of authorised signatures and overdraft limits. Both are authorised by the Directors whose word is God![/quote]Sure your right mate, my comment was aimed at the first post, not yours, [/quote]Thanks!Credit control is absolutely vital at a time like this. Knowing who to pay, and when, means the diference between keeping a company afloat and it sinking into Administration. Its a question of confidence by both banks and suppliers. The Directors were very foolish to retire the Chief Executive without replacing him and they need to name his replacement quickly....... even then a good guy will not be able to join NCFC for at least 3 months due giving notice, etc..[/quote]I have to say that I was amazed that Doncaster was allowed to leave without a replacement in place especially as clubs come up to the transfer season. Share this post Link to post Share on other sites
First Wizard 0 Posted May 21, 2009 [quote user="pennywise "]no doubt first wizard will take this as absolute gospel truth and base 5 new threads a day on it until its proved otherwise [:D][/quote]Another prophecy is coming true...............administration!............oh ye of little faith.[;)] Share this post Link to post Share on other sites
Empty Mirror 0 Posted May 21, 2009 [quote user="3canaries"]Also, even though Mumby and Doncaster have ''left'' the club, they are still Directors (if you know employment law this comes under section 8 of Directorships).[/quote]I do know employment law. Directors are office holders, not employees. They may have a separate employment contract, but that''s different. And there is no "section 8 of Directorships". Share this post Link to post Share on other sites
Buzz Killington 0 Posted May 21, 2009 Strikes me as a little odd that we have no money to pay wages after the season. Players at our level earn very little (by their standard) during the summer, as they are not playing. The real money is earned through bonuses when they play/score etc. Share this post Link to post Share on other sites
Yorkshire Canary 118 Posted May 21, 2009 They dont deserve to be paid for a few months! Share this post Link to post Share on other sites
Joanna Grey 0 Posted May 21, 2009 Yet another thread full of rumours, half-truths and flawed knowledge. Share this post Link to post Share on other sites
whoareyou? 0 Posted May 21, 2009 Though it''s hardly likely to be true, it would not do the players any harm not to be paid TBH, they have hardly earned what would have been due.In any case, any employee who leaked such information would be sacked . Share this post Link to post Share on other sites
Blofield Canary 11 Posted May 21, 2009 Should sort out the argument about claiming the rebate then. No money to pay players there will certainly be no rebate. Share this post Link to post Share on other sites
WeAreYellows49 0 Posted May 21, 2009 [quote user="jbghost"]Should sort out the argument about claiming the rebate then. No money to pay players there will certainly be no rebate.[/quote]It''s in writing that we will be entitled to a rebate, so if we don''t get it there will be threats of all sorts of legal action.[:)] Share this post Link to post Share on other sites
Bobert 0 Posted May 21, 2009 [quote user="whoareyou?"] Though it''s hardly likely to be true, it would not do the players any harm not to be paid TBH, they have hardly earned what would have been due.In any case, any employee who leaked such information would be sacked .quote:I doubt it. Depends on the contract and salary.Its the job of the Chief Executive to give the impression both inside and outside the business that all is well. There was another "big man" in Norfolk I remember who thought that Adminsitrators/Accountants contributed nothing to the business. I remember him saying to me "Look I make the profit you just keep the fffffing score". How wrong he was. Share this post Link to post Share on other sites
Tangible Fixed Assets anyone? 0 Posted May 22, 2009 [quote user="The Butler"][quote user="3canaries"] I was told last night that we don''t have any money to pay the wages this month, and that Directors are being asked to add sum funds to the coffers. Also, even though Mumby and Doncaster have ''left'' the club, they are still Directors (if you know employment law this comes under section 8 of Directorships).This was an absolute 100% reliable source, so I now feel guitly having just received my season ticket refund of £90 last week (for not renewing next season - they had kept taking the direct debit).I really do think it is much more serious than we all believe.[/quote]If they haven''t got money at this stage when renewals have been happening then the club would be in a very bad state!Don''t believe this at all![/quote]Furthermore whats happened to the initial payment re Marshall and the add on re. Lewis (£100k)? Share this post Link to post Share on other sites
Terry Fied 0 Posted May 22, 2009 [quote user="Bobert"][quote user="newboy"]Absolute Rubbish ! You should be embarressed for even posting this. [/quote]Well New Boy I have been running companies for nearly 50 years from the very big to the very small and I assure you that is how the system works! Banks work on a system of authorised signatures and overdraft limits. Both are authorised by the Directors whose word is God![/quote]I would have thought that a club the size of NCFC would have a "Verbal Indemnity Instruction" lodged with their Bankers. Share this post Link to post Share on other sites
Camuldonum 0 Posted May 22, 2009 [quote user="Terry Fied"][quote user="Bobert"][quote user="newboy"] Absolute Rubbish ! You should be embarressed for even posting this. [/quote]Well New Boy I have been running companies for nearly 50 years from the very big to the very small and I assure you that is how the system works! Banks work on a system of authorised signatures and overdraft limits. Both are authorised by the Directors whose word is God![/quote] I would have thought that a club the size of NCFC would have a "Verbal Indemnity Instruction" lodged with their Bankers.[/quote]Bugger football or Verbal Indeminity Instruction. The mere fact of an Ipswich supporter saying "I would have thought" is a MASSIVE moment. Or as the government say: a "step change." Share this post Link to post Share on other sites
bluemike 0 Posted May 23, 2009 [quote user="First Wizard"][quote user="pennywise "]no doubt first wizard will take this as absolute gospel truth and base 5 new threads a day on it until its proved otherwise [:D][/quote]Another prophecy is coming true...............administration!............oh ye of little faith.[;)][/quote]minus 10 points ??? Hmmmm bottom of the league earlier than even I thought. Share this post Link to post Share on other sites
William Darby 0 Posted May 23, 2009 [quote user="bluemike"][quote user="First Wizard"][quote user="pennywise "]no doubt first wizard will take this as absolute gospel truth and base 5 new threads a day on it until its proved otherwise [:D][/quote]Another prophecy is coming true...............administration!............oh ye of little faith.[;)][/quote]minus 10 points ??? Hmmmm bottom of the league earlier than even I thought.[/quote]Your message board that barren, you''re prepared to drop a league and pay us a visit? Share this post Link to post Share on other sites
First Wizard 0 Posted May 23, 2009 [quote user="stress makes Gunns vitiligo worse"][quote user="bluemike"][quote user="First Wizard"] [quote user="pennywise "]no doubt first wizard will take this as absolute gospel truth and base 5 new threads a day on it until its proved otherwise [:D][/quote]Another prophecy is coming true...............administration!............oh ye of little faith.[;)][/quote]minus 10 points ??? Hmmmm bottom of the league earlier than even I thought.[/quote]Your message board that barren, you''re prepared to drop a league and pay us a visit?[/quote]Don''t bite mate. Share this post Link to post Share on other sites