https://www.kentonline.co.uk/medway/sport/gills-make-six-figure-profit-201557/ I am Sooooooooo pleased** for Mr.Scally !............ I wonder if I'll get a 50% increase in my income this year ? nb - I can't wait for the season ticket prices to be announced. ** I might be a bit dim - perhaps somebody can explain how he can justify such a massive increase in one year.
I may get some ' objection ' to my post - on the grounds that Mr. Scally ' saved our Club etc.' -- This has been argued several times. I will always say that creditors, back in 1995, had to accept a few pennies for each £1 they were owed, and that nobody has provided me with evidence that Mr.Scally has 'invested' more than £1 ( one ) of his own money - whilst being able to live a lavish lifestyle on the back of many of MY £££............... but - let's ignore all of that ( contrary opinions are likely to cancel themselves out. ) My point, in this thread - is how can Mr. Scally justify such a spike in his 'consultancy fees ? - especially when we assess the quality of entertainment at our home games for the last 3 years.
It is justified on turnover and profit, unfortunately on field performance is not used when calculating his consultancy fee.
grumpygit - I can understand the 'business' side of the operation - but - I thought that football is not like any other business (( eg - it expects blind loyalty from fans - regardless of results - which is ironic because I thought that football was a 'results' business )) - (( you know - winning games etc )) - that is going to be a damned site more important to most fans than a Chairman who has probably wasted more of our money than he's actually done any good with it. ( but, then he hasn't been playing with any of his own money).
grumpygit - if you feel that Mr. Scally's salary is justified ( based on the increase in turnover of the 'business' - and ignoring the on-field performances over the last 3 years ), I take it that you'll be happy to pay 50% more for your next season ticket.
Always, I never said I agree with it, just how business works when you have a company with a turnover the size of ours.
" Duck - it's a pig "! Perhaps I should have started a poll ! It would appear that I have a [reluctant] agreement from gumpygit.... I don't care what size of turnover a business achieves - ultimately that turnover is the money of the customers [fans] of the business. Customers are really only interested in the 'product.' - The quality of the goods on sale at GFC in recent years has been poor. (( that is why many customers have stopped shopping at GFC )) The 'shopkeeper' at Priestfield is perfectly entitled to keep more of the profit he makes** but that doesn't stop me from being entitled to think that he's taking liberties with money extracted from the customers ( or fans - depending on brb's viewpoint ). ** and let's not be confused as to how that wonderful £111,612 'profit' was achieved -- it represents a little more than 12% [left over ], of the £ 1 MILLION we got from the (cheap) transfer of Bradley Dack. That sort of money probably won't be achievable in this financial year --- So, when we make a [business] loss this year, it will be interesting to see how Mr.Scally rewards himself with our money........ I won't be ducking for any low flying pigs.
When you rely on a one million pounds of a player transfer to only make a profit of £111,612 it goes to demonstrate how easy it is for a club to go under. I don't know how much the Chairman's pay increase was compared to the increase in profit from last year of £2,084?
I don't think this was called a pay rise, it was a consultancy fee paid to Scally Ltd. Some of that money could be used for paying wages to staff members of Scally Ltd. Before anyone thinks I'm making excuses for Scally, I'm not, just saying that I need more detail to make a fair assessment.
I have mostly supported Mr Scally in the past but even I think he is now taking too much money as wages. 300k plus also 90k loan from club. We should also have got a big add on fee when Egan went to Sheff Utd. Guess what undisclosed. Also hoping Dack moves on again as we should get another add on there
I haven't actually seen anywhere that the loan is separate to the £311k payment so maybe that included the loan? GFC Holdings accounts officially showed the £9,050,000 outstanding bank loan has been written off now too so happy days.
He'll be able to buy a lot of pork - if only he could get those pigs to land !................. I don't think that Mr.Scally can spell ' transparency ' - and, being serious for a moment, it would be interesting to know the complete truth - surely he must know that, if such a large debt is no longer a problem, ( for the existence of GFC ), it would give him a lot of credit from the fans. [what has he got to hide ?]...... unless, of course, the debt is structured in such a way that it can return any time the creditor wishes, and bite us in the bum ! ------ anybody know ?
Nope the £9,050,000 hasbeen written off by Barclays in full. Someone who has a banking or accounting background would know better than I but I was made aware this was written off a few years ago but as part of the confidentiality agreement it would have to appear on the club's accounts for a certain number of years to fulfill that agreement.
Can I just say that I never accused Mr.Scally of being a greedy bast**d ...........( ok - the inference was there ) but - he pales into insignificance compared with REAL greed. The link shows you the face of REAL greed ! There is absolutely no other explanation...At least he can sleep in a nicely warm home - when so many people have to decide whether to heat or eat ! ( especially all the 4000 thousand employees who were made redundant - to make way for the obscene amounts of money given to this greedy bleeeeep ) https://www.bbc.co.uk/news/business-47850775
