Money for old rope!

[alwaysright]

Just read the latest financial figures for GFC........Gills have a lot of people on the pay-roll.....at least one person too many !

The Club has its' owners - the Galinsons -- who, if I am correct, know enough about running a business to not needing to pay anyone for 'consultancy' advice !
The Club has a Managing Director...It has Business & Financial manager ( who, ultimately, has responsibility to the Galinsons. )
The Club has a Director of football, Recruitment staff, First team manager, coaches and players...... whose responsibilities are on the pitch.

I fail to see exactly what use a minority shareholder is to the Club - who keeps milking the cashcow to the tune of (in total) £140,000 -- for consultancy. !!

I understand that the Galinsons need somebody to run the show when they are in the USA... I thought that is the job of the Managing Director.

With the way the Club's ground is 'owned', and continued rent to pay, it looks like that I'll be dead before there is any chance that the cashcow will have stopped being milked - by somebody who I wouldn't trust with my last penny.

 

[The Gills PegLeg]

The accounts are for up to May 2023. Well a certain someone owned the club between the period 1st April 2022 till 22nd December 2022 so a word of caution to you to get too upset about something that is still a year in the past. As for your point around Managing Director, you will remember that Mr Comper was only appointed that role in the latter stages of the 23/24 season with someone else effectively providing that role. The next set of accounts will be a better reflection on what remuneration your best mate receives.

 

[alwaysright]

The Gills Peg Leg..... ( you know I won't let it go - until 'HE' goes ! )
I am actually confused as to who owns what in regard to GFC.
The accounts state that during the 'takeover' ( by Galinsons ), the ground was sold to GFC Holdings - which is owned by ...you-know-who..... and that, on top of the £140,000 consultancy fees given to that person, a further £41,000 + was given to that person's ( GFC Holdings ), company for rent........which I presume will be payable each season.......

..... So, as I see it, that person is the bloody landlord of the cashcow milking parlour.

 

[The Gills PegLeg]

The Gills Peg Leg..... ( you know I won't let it go - until 'HE' goes ! )
I am actually confused as to who owns what in regard to GFC.
The accounts state that during the 'takeover' ( by Galinsons ), the ground was sold to GFC Holdings - which is owned by ...you-know-who..... and that, on top of the £140,000 consultancy fees given to that person, a further £41,000 + was given to that person's ( GFC Holdings ), company for rent........which I presume will be payable each season.......

..... So, as I see it, that person is the bloody landlord of the cashcow milking parlour.

GFC Holdings is owned by three directors, Brad Galinson who has the majority ownership, Paul Scally who has a minor ownership and Shannon Hogan Galinson (who it is unknown how much is hers).

 

[alwaysright]

GFC Holdings is owned by three directors, Brad Galinson who has the majority ownership, Paul Scally who has a minor ownership and Shannon Hogan Galinson (who it is unknown how much is hers).

Thanks for the information. ( it doesn't really change my opinion. )