No Money to Pay Wages this Month.....

[3canaries 0]

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.

[spm2866 0]

Didn''t realise it was April 1st!

 

OTBC since 1969

R.I.P Dad 1939-2008

[The Butler 0]

[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!

[Badger 0]

Anybody else with reliable sources heard anything similar?

[rjwc22 0]

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.

[Official Joe 0]

My brother in law didn''t mentio anything last night but not sure when he gets paid.

[Bobert 0]

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,

[rjwc22 0]

Probably transferring from the transfer kitty!

[newboy 0]

Absolute Rubbish !

You should be embarressed for even posting this.

[Bobert 0]

[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!

[3canaries 0]

[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?

[newboy 0]

[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,

[pennywise 0]

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]

[Bobert 0]

[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..

[Camuldonum 0]

[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.

[First Wizard 0]

[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.[;)]

[Empty Mirror 0]

[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".

 

[Buzz Killington 0]

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.

[Yorkshire Canary 118]

They dont deserve to be paid for a few months!

[Joanna Grey 0]

Yet another thread full of rumours, half-truths and flawed knowledge.

[whoareyou? 0]

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 .

[Blofield Canary 11]

Should sort out the argument about claiming the rebate then. No money to pay players there will certainly be no rebate.

[WeAreYellows49 0]

[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.

[:)]

[Bobert 0]

[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.

[Tangible Fixed Assets anyone? 0]

[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)?

 

[Terry Fied 0]

[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.

[Camuldonum 0]

[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."

[bluemike 0]

[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.

[William Darby 0]

[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?

[First Wizard 0]

[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.