Louth4sam wrote: ↑Mon Sep 11, 2023 7:53 pm
Pepsi wrote: ↑Mon Sep 11, 2023 6:27 pm
We can say what we want about Peak6 ... when they walked away they took the hit for all Bills madcap signings and left money in the bank to cover a large part of what was open.
Was very reliably informed that what was left by Peak6 didn't come close to plugging what was owed.
I'm as frustrated as anyone about the lack of investment compared to the clubs around us but I genuinely feel that we are far more stable as a club now than we were going under Bill and Peak6. If it's true that players can be partly paid by StatSports that can be a good thing and might be attractive to players coming into their late 20s if there is a job with StatSports part time with their DFC role and full-time when they retire. I would love to know what StatSports plans are as looking from the outside they don't seem to be leveraging their contacts within the game as much as I hoped and was excited about when they took ownership. They have link-ups with Arsenal, has a partnership been explored? Then you have Kane, Sterling, Maguire, Oxlade-Chamberlin and Foden as investors in StatSports. I know it's off the wall, but a couple of weeks wages from each of them and we'd be very competitive within the league. But seriously, I feel that there is something holding the StatsSports lads back, they still seem to be raising capital from VCs and Angel investors, if they ever go public or a major player buys them out we might reap the whirlwind. Until then I'd imagine we will be living within our means for the foreseeable future but have relative stability.
To say that we are far more stable isn't exactly true. A feel of things being ok isn't a proper measure. Assuming what you say about part of players wages being paid off-balance sheet is correct then we're in a worse state than the books reflect, which is already grim enough reading. Ok you've European money to come in which softens the blow, but the prospect of none next year wouldnt fill me with optimism
"With that in mind, the release of Dundalk FC’s abridged financial statements for the year ending December 31, 2022, makes for some interesting – and slightly concerning – reading. A loss of almost €500,000 was reported, down from a profit of €905,863 the year before when the club was handed over to Seán O’Connor, Alan Clarke and Andy Connolly by PEAK6. The decline in finances was reflected by the cash in bank figure which fell from €1,454,703 at the end of November 2021 to €424,844 as of December 31 last – a drop of €1,029,859. This is also dramatically down on the €3,131,890 the club had in the bank in their 2020 accounts. You don’t need to be an accountant to work out that finances heading in that direction can only be sustained for so long before either new investment is needed, a dramatic turnaround in how things are ran is required, a sale is made or the sh1t hits the fan." - https://www.independent.ie/regionals/lo ... 73866.html
Talk of outside investment coming in is also fanciful in my opinion as there's about 10 clubs (premier and first) if not more that would be more attractive to outside investors. Seems to have gone quiet there too but I remain hopeful(ish). Couple that with relatively poor crowds and gate receipts being the bread and butter I really fear that darker days lie ahead. I know I'll probably be slaughtered for pointing out the obvious but its difficult to be optimistic. The winning or losing of the FAI Cup this season could prove huge for whatever comes next