The K's In Point
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by www.kingstonian.com28/7/2023 12:00Fri Jul 28 12:00:53 2023
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Are shareholders liable for any debt if a club goes under?
Ksuals
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It's a limited company but depends on wether personal guarantees where obtained to any lending issued to the company which can be common practice for some lenders
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It's the Organs or the Craic, you can only serve one master
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I don't know the answer to your question, but the Directors recently confirmed that "the Club has no debts (other than director loans)".
See https://comeonuks.wordpress.com/2024/01/18/questions-to-the-board/
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There is no debt which is one of the few good things one can say about the situation.
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When we go bust, will the new supporter's club compose a tweet congratulating the board about a solvent wind-up?
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7 people
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Why would we go bust? We have the costs of a ground covered for years to come by the AFC blood money. There is no imminent financial crisis. The club can afford a decade of zombie like football and that is one reason why there is no pressure on the directors.
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1 person
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here is no imminent financial crisis. The club can afford a decade of zombie like football and that is one reason why there is no pressure on the directors.
are you saying K's have 10 seasons left using AFC Wimbledon money & then we go bust.
The current situation is dire we're heading into oblivion surely you to can see that.
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Where did I say the current situation is not dire? Don’t read things into my posts please.
I was merely pointing out that the club is not in a financial mess and can rely on the AFC blood money to keep playing for many years.
I think it is more of a risk that the directors will simply wind up the buisness. This is what happened at Walton Casuals.
I would suggest that a supporters trust is set up and the supporters club folded into it with a view to having the right structure to receive the shares in the club when these shareholders and directors want to move on.
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I am sure the club would generate a certain level of income. Of course the situation is not actually disastrous per se because we can afford to groundshare, we have no debts and there is a theory that we are deliberately getting relegated to cut costs to a more manageable level.
This is what Met Police did in taking a voluntary relegation to step four at the end of last season and let us face it, they do not have many fans either.
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1 person
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Count,am I right in thinking that the compensation for leaving Kingsmeadow early has conditions that do not cover all expenses incurred running a football club.
Do Ks have income to cover these addition costs if that is so or are they reliant on loans/donations.
Ksuals
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Further to the public meeting held last week, I'm pleased to confirm that the SC has begun the process of setting up a (new) Supporters Trust.
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I think that is sensible as it provides a better structure to bid for the shares.
I have to say that one issue here is that the shareholders actually think there is some value in the shares. Whilst we might be bumping along the bottom, if I were a shareholder and had reason to think Kingstonian would return to Kingston, I would not ascribe a nil value to my shares.
I would also want my shareholders loan repaid although I suppose I’d I were a real fan I might be persuaded to write them off to give the club bests prospects of success.
But then I suppose if Kingstonian returns to Kingston we would all be happier.
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1 person
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If the board are the shareholders 'sack the board', is going nowhere.
Has any individual or supporters group made an offer to buy shares off the current shareholders without attaching conditions in an attempt to get control of KFC ?
Ksuals
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Steady on Alistair just asking
Ksuals
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Attaching conditions?
Asking for the company accounts isn’t attaching conditions, it’s what any potential investor would want to see before making an investment.
Going nowhere? I wouldn’t be so sure about that
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Filipo I would think asking for company accounts is a very sensible condition before investing or buying shares
Ksuals
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Has any individual or supporters group made an offer to buy shares off the current shareholders without attaching conditions in an attempt to get control of KFC ?
You said without attaching conditions…..
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Filipo the news of setting up of Supporters trust seems a more positive step then asking the board to sack themselves.
Given the oft repeated anti board posts and views expressed elsewhere,and the so far nil visible impact, lets hope a ST leads to actual change.
Ksuals
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Given the oft repeated anti board posts and views expressed elsewhere, and the so far nil visible impact
Watch this space.
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1 person
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Rex, here's hoping that you and those likewise can work out a better future for the club than is currently likely
Ksuals
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A "better future for the club" is going to need a number of things.
We urgently need a new home in the Borough of Kingston on Thames. First, as a groundshare, then permanently. We need Directors who are prepared to engage with and work with the supporters. We need an ownership model that better reflects Kingstonian's future as a community club which, in turn, probably means we need a new Supporters Trust to acquire 51% of the shares. We need a budget that will allow us to compete.
Change is coming. Keep the faith.
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4 people
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Rex,what would your option be if finance/ ground available in the borough meant playing at county level and rebuilding from there?
Ksuals
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I think the priority has to be playing in the Borough. If that means playing at County level, so be it.
But we have to remain ambitious. My vision is for a community-owned club with its own stadium and a 4G pitch, supporting the first team, a Women's team, a Youth team, Kingstonian Mind Utd and the Young Carers. If we can attract the supporters back, grow our sponsorship income and generate some money from venue hire, etc, then anything is possible. Look to the example of W&H, where a dynamic group of inexperienced young chaps has worked wonders.
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Back this 100% of the way. That’s a vision that would stand it’s time and bring the younger fans through. Maidstone United were absolutely nothing until they got their ground back in, I think it was 2012? We used to have to go watch us play Maidstone all the way over in Ashford (beat them 2-1 in 2011 on a very cold Tuesday night in Jan I remember)
As soon as Maidstone got their 4G pitch back in Maidstone their fortunes turned around, the pitch is used almost every day and they have a women’s, disabled, youth and academy which are formidable opponents. The whole community backs them and the gates just went up and up to 2000 average. They have only ever had one game to my knowledge that was cancelled but it was because there was too much snow around the ground, the actual pitch was absolutely fine to play.
We did used to sing “we’ve got more grass than you” but with the revenue their pitch makes, I would love to have a 4G. Chatham Town are going from strength to strength with theirs too?
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Can you imagine if we just said and did nothing? Just carried on and watch the club dissolve
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3 people
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Doesn't take a flight of imagination to work that out
Ksuals
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Protesting and asking the board to sack themselves is a form of action.
You might sit around doing nothing but doing nothing will get you that!
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Hmm, honestly if Ks continue on this downward path I'll be slightly sorry but since moving away absence hasn't made the heart grow fonder.
Ksuals
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