Archived News from November 2018
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MTFC AGM - WAGES & TRAVEL UP, LATEST ON HOTEL/BISH
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Cost of Mansfield Town promotion push so far revealed at AGM
chad.co.uk, by JOHN LOMAS, Thursday 15 November 2018 Mansfield Town’s promotion push, starting with the ‘Steve Evans Revolution’, over the past two years has inevitably come at a cost. But club chairman John Radford and CEO Carolyn Radford were happy with the figures released at the club’s annual meeting today and, with crowds and income on the up, all pointed to a bright future for the Stags. Having made a loss of £10,077 the year before, the club’s finances to June 30th 2017 even showed the promised profit from last year’s AGM - the first for many years - with a surplus of £6,403. However, the Radford ultimately want to bring the club in line with the rest of John Radford’s One Call group of companies, and eventually bring it within the group to give it more strength, so for the first time produced extra figures for the six months ended 31st December 2017. They showed how wages, travel costs and agents fees had shot up under previous manager Evans when he was given his war chest to help the club chase promotion. So by the turn of the year on 31st December 2017 that small profit had turned into a £132,785 loss. Read more at: https://www.chad.co.uk/sport/football/mansfield-town/cost-of-mansfield-town-promotion-push-so-far-revealed-at-agm-1-9447088 Wages for the year ended 30th June 2017 were £1,884,446 (up £420,000 from the year before), but just for the following six months were £1,600,221 - a rise of 68 per cent over a whole year’s period compared with 29 per cent the year before. Agents fees for the 12 months ending 30th June 2017 were £10,324 but the next six months alone saw them total £58,690. Travel costs for the 12 months ending 30th June 2017 were £7,999 but the next six months saw them total £117,457 as boss Evans began to plan overnight stays before almost every away game to have players better prepared. New boss David Flitcroft has continued that and the Stags are now on a club record 12 away games unbeaten. The good news was that attendances had increased and other income shot up with the club turnover totalling £2,619,535 over the 12 months ending 30th June and over the next six months already bringing in almost the same with £2,170,127. Attendances had risen from an average 3,439 in 2015/16 to 3,774 in 2016/17 and then 4,757 last season (comment by Martin, it was 4,309 last season). Another significant change in figures came in the year ended 30th June 2017 when Stags’ net current liabilities figures changed due to John Radford and directors Steve Hymas and Steve Middleton all agreeing to convert their loans into share capital. That saw share capital rise from £278,405 to £1,382,957. Stags financial director Jim Beachill explained: “There is a big difference to the football club between loans and share capital. “Loans can be recalled at a specific point in the future. But when it becomes part of the share capital it can only be repaid when the club is sold or if it goes out of business, if there are any assets left. “It is a sign of the confidence of the directors in the future of the football club. “It is growing because of the directors’ determination to get this football club where they feel it rightly belongs, which is League One. All efforts are being made for that purpose. “The great thing is that attendances are rising too.” Chairman John Radford said: “These accounts are not a bad set of results and it does seem like we are making progress.” ----------------------------- Manager has a top three budget again says chairman as he reveals future plans for Mansfield Town at AGM chad.co.uk, by JOHN LOMAS, Thursday 15 November 2018 Mansfield Town chairman John Radford said he has given his manager a top three budget for the third year in a row. Speaking at the club’s AGM today, Radford said he had dug deep in his pockets for previous boss Steve Evans and was now doing so for successor David Flitcroft. “The last three years we’ve had a top three budget, so I expect a top three place, but we’re not there yet,” he said. “We want to take the club as far as we can take it and see where we go from there. “We’d like to thank all our fans for coming through the door - the turnstiles are starting to turn a bit more.” Read more at: https://www.chad.co.uk/sport/football/mansfield-town/manager-has-a-top-three-budget-again-says-chairman-as-he-reveals-future-plans-for-mansfield-town-at-agm-1-9447094 The accounts showed a huge rise in wages and also agents fees, which jumped from £10,324 for the 12 months ending 30th June 2017 to £58,690 for the next six months. “That’s the market we’re in with the players we are chasing from then next level. It is a battle we will always have with the manager as we try to make it affordable to the club,” said John Radford. CEO Carolyn Radford added: “If you want to be competitive you have to pay the premium. “But the higher you go up the divisions the bigger gates you get and more exposure and TV money you get.” On future plans, John Radford said: “We want to take the club forward and there are a lot of things going on with a lot of projects. “Obviously the Bishop Street Stand will need sorting at some point. “Also the hotel is bubbling away. Planning has gone through and I have a meeting about it in the first week in December. “I am not sure which we will do first - Bishop Street or the hotel.” Carolyn added: “We’d like to know what fans would prefer first as well. Both of them need doing with a four to five year plan to complete both. “The ideal would be to do the hotel in the new stand but there just isn’t the footprint to be able to do that. “We’ve asked the council about the housing behind it but that’s all occupied at the moment so it’s just not practical to do anything there. “So it will be two separate projects. “But the training ground is now up and running and will have an official opening soon. “And we are meeting with the manager on Monday night to discuss any changes that may need to be made in the squad for the second half of the campaign.” Answering a question from the floor, John Radford confirmed the final payment to complete the purchase of the One Call Stadium from former chairman Keith Haslam would be made in March. --------------------------- Full AGM available to watch on video on iFollow Stags -------------------- Q from a shareholder: "Will the hotel be owned by the same company as the ground?" John Radford: "The hotel will be charged rent to the ground. The land is owned by the stadium company here. I'm just trying to do it the most tax efficient way, so I can offset charges on one against the other. That's the reason for putting it all in a group structure. If something makes a loss, you might as well utilise those losses somewhere else in the group." Q from Paul Taylor: have you made the last payment on the ground? John Radford: "The last payment is March next year. Hopefully I'll make it ... it would be bad to miss the last payment (laughs)." Carolyn: "I think he (Haslam) was hoping things would go wrong in 7 years." ---------------------------- audio interview: Carolyn Radford on Radio Nottm before the game against Port Vale, 17Nov2018: here. ------------------- facebook: Mansfield Town Football Club created a poll. November 16 POLL: Following CEO Carolyn Radford's suggestion at yesterday's AGM, we want to know which project you'd like to see us begin first: A new Hampton-by-Hilton hotel at One Call Stadium on Quarry Lane or the renovation of the Bishop Street Stand? Final result (3000 votes): 42% Hilton hotel 58% Renovation of Bishop St. twitter @mansfieldtownfc POLL: Following CEO @CarolynRadford's suggestion at yesterday's AGM, we want to know which project you'd like to see us begin first: A new Hampton-by-Hilton hotel at One Call Stadium on Quarry Lane or the renovation of the Bishop Street Stand? Final result (1135 votes): 42% Hilton hotel 58% Renovation of Bishop St. -------------------- |
Latest | November 2018