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......and Smith must score.

Re: Mr McNally's bonus and a meeting with.............

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No disrespect Tangie but not a lot there we didn''t know already.Bearing in mind the incredible success we''ve had in the last two and a half years there can''t be many supporters who would deny that the CE is worth every penny of the reported six figure bonus he banked as a result of that success.

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[quote user="grantroederdisaster"]

I''m led to believe David Mcnally got a £500K + promotion bonus which in all fairness is justified judging how hes played a major part in the success of the previous 2 seasons!

[/quote]

People should only be paid a bonus on performance, and because of that he''s worth every penny.

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hello tangy.   as a long term reader of your posts i have an interest in how did u get a meeting with mr bowket? do u have links with the club?

anyway well done for shouting the little fans cause.keep up the good work and looking forward to more good posts.

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I was about to write a potentially libelous comment about Mcnally here but after receiving a email from Archant warning me about my conduct after a comment about the Gunn family i think it''s best i keep my mouth shut you guys wouldn''t want me banned now would you ;)?

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I''m with ...and smith must score - no disrespect but there isn''t a lot of news here really - how did people think we''d finance building a new stand if not via some sort of debt, or that we''d not look carefully into it before committing to it? We don''t want a ground that is only ever half full, say, like Poorman Road, do we?!

As for McNally and his contract, I don''t really care - he''s on what he''s on and so far has been worth every penny. Particularly after the last CEO......

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With respect though Tangie has revealed something new, which actually confuses me.  Much of the earlier thread, dominated by Purple, speculated that we would have to pay back existing debt, then build up the £20 million required to build the new stand BEFORE building started.  If the stand is to be built funded by new debt, then according to a lot of Purple''s arguments as we will be in a position of clearing existing debt by the end of next season, we could start on the stand one season earlier than the three years Bowkett describes because we would borrow the cash not have it in the bank.  This would imply that either Purple has got it slightly wrong on loan repayments or we are planning to use the £20 million pot on investment into the playing squad, or the club wants to build up a pot for a rainy day (what manager would ever agree to be at a club with pots of money doing nowt in the bank!).  Anyway to my mind the (building) plot thickens.

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[quote user="shefcanary"]With respect though Tangie has revealed something new, which actually confuses me.  Much of the earlier thread, dominated by Purple, speculated that we would have to pay back existing debt, then build up the £20 million required to build the new stand BEFORE building started.  If the stand is to be built funded by new debt, then according to a lot of Purple''s arguments as we will be in a position of clearing existing debt by the end of next season, we could start on the stand one season earlier than the three years Bowkett describes because we would borrow the cash not have it in the bank.  This would imply that either Purple has got it slightly wrong on loan repayments or we are planning to use the £20 million pot on investment into the playing squad, or the club wants to build up a pot for a rainy day (what manager would ever agree to be at a club with pots of money doing nowt in the bank!).  Anyway to my mind the (building) plot thickens.[/quote]

 

 

Shef, sorry to be so dominant! Seriously, that is mainly what I said but not quite. To recap, there is no doubt in my mind, and other posters have confirmed this, that IF we stay up this season then we must pay off all our bank debt by October 2013. We are contracted to do so. And with capital and interest probably getting close to £20m.

 

 

What I also said was that if we went ahead with a £20m stand we would probably at some point start saving some money towards that, on the assumption that we wouldn''t entirely pay for it from debt. Tangible has done us a service by speaking to Bowkett, and it LOOKS as if Bowkett has said we would pay for it purely with debt. But that is not entirely clear. Perhaps when this bl**dy system starts working again properly then Tangible could clarify that. I confess I had assumed the finance would come from a package of measures: naming rights, perhaps sale of executive boxes, cash AND debt.

 

 

As it happens the two events - paying off the debt and finding any cash for the new stand - could overlap a bit. Although the last tranche of debt has to be paid by October 2013, by far the largest amount has to be paid by May 2013. And it won''t be before May 2013 that we know if we are staying up into a third season of Premier League football. That is the crucial criterion the board has set, not when and whether the money is available. Obviously if most or all of the financing will be debt then the club can start straight away after May 2013, and I have never suggested otherwise. I never said we would have to wait to build up £20m before we started.

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Call me stupid but, if the current debt is being cleared first, and then the new stand financed with new debt (you would assume being repaid at a lower rate, certainly no more than the current debt) then we wouldn''t be any worse off than we are now in terms of operating cash flow?  Obviously we''d be worse off in terms of having £20m of new debt plus the interest, but cash wise month by month we may be better off in terms of the amount we are paying in debt repayments. 

 

This is not taking into account the fact that we will generate more income with an increased capacity (once the new stand is completed) over the duration of the repayment of the new debt.

 

 

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[quote user="TIL 1010"][quote user="Tangible Fixed Assets anyone"]  Naturally I am not at liberty to discuss the details of the contract on a public forum.

 

[/quote]

Now let me get this right.....are you saying that Mr Bowkett took you into his confidence and discussed the details of our Chief Executives salary and bonuses with somebody who he had ever heard of or met before ? Well if i was Mr McNally i think i would be a tad upset that this took place.How would you feel Tangible if your financial affairs were discussed to a fellow customer by say your Bank Manager?

[/quote]

 

Unless written into McNally''s contract, which would be very unusual, it''s a breach of confidentiality.

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It is my understanding that shareholders do have the right to ask questions of the club and that if apporached in a credible manner, the Chairman may well have agreed to have met with Tangie. By the sounds of it, Tangie has had some some sort of tacit agreement with Mr Bowkett to acknowldge that a meeting took place, so long as any confidences were not betrayed. If Tilly doesnt believe it, I am sure that he can check this out on his network, but I am prepared to give Tangie the benefit of the doubt.

Now Tangie, I am interested upon whether you touched upon any football matters that coould be disclosed?

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[quote user="TIL 1010"][quote user="Tangible Fixed Assets anyone"]  Naturally I am not at liberty to discuss the details of the contract on a public forum.

 

[/quote]

Now let me get this right.....are you saying that Mr Bowkett took you into his confidence and discussed the details of our Chief Executives salary and bonuses with somebody who he had ever heard of or met before ? Well if i was Mr McNally i think i would be a tad upset that this took place.How would you feel Tangible if your financial affairs were discussed to a fellow customer by say your Bank Manager?

[/quote]

 

By and large we Purists are shareholders...........

 

Dunno about your lot!

 

OTBC

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[quote user="BlyBlyBabes"][quote user="TIL 1010"][quote user="Tangible Fixed Assets anyone"]  Naturally I am not at liberty to discuss the details of the contract on a public forum.

 

[/quote]

Now let me get this right.....are you saying that Mr Bowkett took you into his confidence and discussed the details of our Chief Executives salary and bonuses with somebody who he had ever heard of or met before ? Well if i was Mr McNally i think i would be a tad upset that this took place.How would you feel Tangible if your financial affairs were discussed to a fellow customer by say your Bank Manager?

[/quote]

 

By and large we Purists are shareholders...........

 

Dunno about your lot!

 

OTBC

[/quote]

I have my doubts about that Babes. Can you back it up?

 

What I find strange about this whole episode is that Bowkett would give the likes of Tangie the time of day. Given that it''s an undeniable fact that Bowkett, and McNally for that matter, are both commendably loyal to the clubs owners I would have imagined they''d be very wary of someone who publicly tried to hound out Delia Smith. I expect Tangie managed to keep his true feelings under wraps or Bowkett subscribes to the theory that you keep your friends close but your enemies even closer.

 

 

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[quote user="nutty nigel"][quote user="BlyBlyBabes"][quote user="TIL 1010"][quote user="Tangible Fixed Assets anyone"]  Naturally I am not at liberty to discuss the details of the contract on a public forum.

 

[/quote]

Now let me get this right.....are you saying that Mr Bowkett took you into his confidence and discussed the details of our Chief Executives salary and bonuses with somebody who he had ever heard of or met before ? Well if i was Mr McNally i think i would be a tad upset that this took place.How would you feel Tangible if your financial affairs were discussed to a fellow customer by say your Bank Manager?

[/quote]

 

By and large we Purists are shareholders...........

 

Dunno about your lot!

 

OTBC

[/quote]

I have my doubts about that Babes. Can you back it up?

 

What I find strange about this whole episode is that Bowkett would give the likes of Tangie the time of day. Given that it''s an undeniable fact that Bowkett, and McNally for that matter, are both commendably loyal to the clubs owners I would have imagined they''d be very wary of someone who publicly tried to hound out Delia Smith. I expect Tangie managed to keep his true feelings under wraps or Bowkett subscribes to the theory that you keep your friends close but your enemies even closer.

 

 

[/quote]

 

Fancy going for a pint sometime?[;)]

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"Senior heads must roll" were Bowkett''s words.Bowkett and the Associate Directors Group also rather worringly backed Gunn as manager.Thank heavens we got McNally (a man who understands football involved not long after that I say).

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Tuesday October 27, 2009 1:06 Alan Bowkett

1:07 Sports Desk Pete: You publically challenged how Smith & Jones were running the club back in May. Apart from their obvious love of the club, what have you seen to change your opinion?

Can u sit down please

Tuesday October 27, 2009 1:07 Sports Desk Pete

1:13 Alan Bowkett: Can u sit down please - I must correct you, I publicly challenged how Neil Doncaster was running the Club. As for Delia and the two Michaels, I think their outstanding contribution has been the appointment of David McNally as Chief Executive - a consummate businessman who has a decade of football experience at the highest level. Paul, David and I are now running the Football Club with the complete support of the substantial shareholders. When we have had to take very difficult decisions, all our substantial shareholders have been demanding in their questioning of our proposals, as I would wish any non-executive director to be and then they have been some of the most supportive non-executive directors I have ever worked with and I can assure you I have worked with a lot. Let''s not forget, I did not seek this job and it was Delia and Michael that realised some fundamental changes had to occur and they spent considerable time persuading me to undertake the task.

 

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[quote user="BlyBlyBabes"][quote user="TIL 1010"][quote user="Tangible Fixed Assets anyone"]  Naturally I am not at liberty to discuss the details of the contract on a public forum.

 

[/quote]

Now let me get this right.....are you saying that Mr Bowkett took you into his confidence and discussed the details of our Chief Executives salary and bonuses with somebody who he had ever heard of or met before ? Well if i was Mr McNally i think i would be a tad upset that this took place.How would you feel Tangible if your financial affairs were discussed to a fellow customer by say your Bank Manager?

[/quote]

 

By and large we Purists are shareholders...........

 

Dunno about your lot!

 

OTBC

[/quote]

Well Bly i can think of one of "your lot" as you put it who is not a shareholder.

 

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[quote user="nutty nigel"]

 

Tuesday October 27, 2009 1:06 Alan Bowkett

1:07 Sports Desk Pete: You publically challenged how Smith & Jones were running the club back in May. Apart from their obvious love of the club, what have you seen to change your opinion?

Can u sit down please

Tuesday October 27, 2009 1:07 Sports Desk Pete

1:13 Alan Bowkett: Can u sit down please - I must correct you, I publicly challenged how Neil Doncaster was running the Club. As for Delia and the two Michaels, I think their outstanding contribution has been the appointment of David McNally as Chief Executive - a consummate businessman who has a decade of football experience at the highest level. Paul, David and I are now running the Football Club with the complete support of the substantial shareholders. When we have had to take very difficult decisions, all our substantial shareholders have been demanding in their questioning of our proposals, as I would wish any non-executive director to be and then they have been some of the most supportive non-executive directors I have ever worked with and I can assure you I have worked with a lot. Let''s not forget, I did not seek this job and it was Delia and Michael that realised some fundamental changes had to occur and they spent considerable time persuading me to undertake the task.

 

[/quote]But aren''t you glad that McNally had the sense to dump Gunn at the earliest opportunity, rather than go along with Bowkett and the Associate Directors Group''s blueprint for success?

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I think all of us are glad that Delia and the two Michaels were around to appoint McNally. They wouldn''t have been if Tangie and his ilk had got their way. Where do you think we''d be now if they had managed to hound them out?

 

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[quote user="nutty nigel"]

I think all of us are glad that Delia and the two Michaels were around to appoint McNally. They wouldn''t have been if Tangie and his ilk had got their way. Where do you think we''d be now if they had managed to hound them out?

 

[/quote]So were you for Gunn at the time he was made manager, or did you always believe that it to be a poor decision?I think I know the answer to that one.Because you are a better fan than the rest of us I suppose you kept it to yourself though?I guess it was all Doncaster and Munby''s fault, even though existing board members supported that decision when it was made?The only member of our current board who did not back Gunn''s appointment was McNally.

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"The only member of our current board who did not back Gunn''s appointment was McNally."maybe because he was not on the board at the time of Gunn''s appointment

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[quote user="City1st"]"The only member of our current board who did not back Gunn''s appointment was McNally."maybe because he was not on the board at the time of Gunn''s appointment[/quote]Nor were Stephan Phillips or Stephen Fry........

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[quote user="lappinitup"][quote user="City1st"]"The only member of our current board who did not back Gunn''s appointment was McNally."

maybe because he was not on the board at the time of Gunn''s appointment

[/quote]

Nor were Stephan Phillips or Stephen Fry........
[/quote]

 

Neither were Stephan Phillips nor Stephen Fry.

 

OTBC

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[quote user="lappinitup"][quote user="City1st"]"The only member of our current board who did not back Gunn''s appointment was McNally."

maybe because he was not on the board at the time of Gunn''s appointment

[/quote]

Nor were Stephan Phillips or Stephen Fry........
[/quote]

 

...or Alan Bowkett. I guess if you''re going to get something wrong you might as well get it spectacularly wrong...[;)]

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[quote user="PurpleCanary"]

[quote user="lappinitup"][quote user="City1st"]"The only member of our current board who did not back Gunn''s appointment was McNally."maybe because he was not on the board at the time of Gunn''s appointment[/quote]Nor were Stephan Phillips or Stephen Fry........[/quote]

 

...or Alan Bowkett. I guess if you''re going to get something wrong you might as well get it spectacularly wrong...[;)]

[/quote]Mark (3) was suggesting Bowkett and the Associate Directors supported the Gunn appointment......

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[quote user="lappinitup"][quote user="PurpleCanary"]

[quote user="lappinitup"][quote user="City1st"]"The only member of our current board who did not back Gunn''s appointment was McNally."

maybe because he was not on the board at the time of Gunn''s appointment

[/quote]

Nor were Stephan Phillips or Stephen Fry........
[/quote]

 

...or Alan Bowkett. I guess if you''re going to get something wrong you might as well get it spectacularly wrong...[;)]

[/quote]

Mark (3) was suggesting Bowkett and the Associate Directors supported the Gunn appointment......
[/quote]

 

But, lappin, based on what?!?!?! [8-)]This is presumably just another of Smudg...sorry, Mark3''s fantasies. As far as I know, and I do tend to follow this stuff, Bowkett before he joined the board never expressed an opinion on Gunn''s appointment. If anything, based on his open letter, which bemoaned the fact that we had been relegated to the third tier, the chances he certainly wasn''t keen, at least in retrospect. Having just reread that letter, there is certainly not a word there suggesting Bowkett had backed the choice of Gunn.

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Let the NCFC Board and majority shareholders neither ignore nor forget the power of logicever again.

Sports Desk Pete is not online. Last active: 12/01/2012 10:13:01 Sports Desk Pete



Top 50 Posts
Joined on 05/09/2003
Archant Towers, Norwich
Posts 6,922

Re: Alan Bowkett webchat question

Reply Quote

Open letter to Roger Munby, chairman of Norwich City Football Club, from Nigel Bertram and Alan Bowkett, chairman and deputy chairman of the NCFC Associate Directors Group

Dear Roger,

As you know we are respectively the chairman and deputy chairman of NCFC''s Associate Directors Group which is a team of local businessmen and supporters who collectively own approximately 5pc of the equity in NCFC plus substantial sums in the preference shares. Please note the views in this letter are our own.

Over the past five years we have met with you and Neil Doncaster on a number of occasions to see how the skills of our group can be utilised for the greater good of the NCFC family.

Sadly, our advice has been dismissed the majority of the time.

Perhaps our only success has been the introduction and financing of the Employee of the Year Awards for non-footballing colleagues at the club, an event you have now decided to abandon.

You are aware that we have been dissatisfied with the executive management of the club for a number of years, culminating in our preparation of a financial analysis of the situation and strategic options open to us in December 2007.

To the board''s continuing shame you categorically refused to meet your own shareholders to discuss the proposals; proposals that were developed with the sole aim of improving the situation.

We now know that you believed we were in concert with Peter Cullum as you were then in negotiations with him in complete secrecy.

Ironically, no member of our group knows this man and it was only through logic and financial analysis that we concluded that some £25m needed to be invested, a similar sum to that calculated by Mr Cullum''s advisors.

We are acutely conscious that all the directors love the club and have taken decisions that they felt were the correct ones at the time.

However, good intent is not the only skill required to manage an enterprise: skill, leadership, vision and empathy with all stakeholders are essential.

The board does not have these attributes.

The mistakes during your stewardship are legion and well documented in correspondence and internet postings throughout the county and beyond.

Suffice to say we are now in the third tier of English football, our financial situation is dire, we

do not have a team, the loyal supporters are distressed but we do have the best ground in the third division.

Under your chairmanship and Neil Doncaster''s executive leadership the quality of our product has deteriorated every year since 2004, losses have continued to mount and debt piled up.

The only honourable course open to you both is to resign forthwith without compensation, the board to search for a new chief executive, appoint a new chairman from the local business community and work with the current majority shareholders to get us out of this mess.

For the avoidance of doubt, neither of us seeks to join the board.

Unfortunately, we do not expect you to listen to our arguments alone and therefore we will be consulting with various stakeholder groups to ensure that we create a sufficient groundswell of public opinion that will be resolute, indefatigable and irresistible.

We must end this uncertainty now

 

OTBC

 

 

 

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