Representatives from the Supporters Trust attended the football club shareholders’ Annual General Meeting.
Below are the main takeaways from the meeting:-
Club debt to owners, as on 30 June, was £21 million. The club is losing £3 million a year and figure is expected to rise to £24 million by the end of June 2027.
The debt to East stand builders GRS has not been paid in full.
There are no firm plans for the wider land beyond the granted planning permission for warehousing.
A company called Neneside Limited has been created and will be used for developing the land.
A company called Sports Alpha NTFC, linked to the Brazilian Alexandre Pato, has been registered in the United States in Wilmington, Delaware. The club declined to comment.
It is anticipated that the proposed new investment will clear the club debt, although an additional sum from the land development may still be required.
The total revenue this coming season is forecast to be £8 million.
The playing budget is £3-3.5 million.
£1.4 million is commercial income (sponsors, boards etc).
The net incremental income (profit) this season from the finished East Stand is forecast to be £250k.
All the hospitality boxes have been let.
Kelvin Thomas said he would like to stay on as chairman but stated that this would depend on the final deal.
The club has sold 3,100 season tickets.
Strategy is for club to flip the Matty Warhurst signing as they did with Charlie Goode.
There are no further sell on fees accruing from Toney, Chukwemeka et al.
There are no plans to move our level 3 academy to level 2. A 60-metre long covered space would be required and the economics don't stack up.
