City foundation meeting

[Oli]

People getting bigger discounts on their ST than they are paying in.

Still not a loss though, just lower revenues surely?

 

[ecfc girl]

Because they're assuming that all the members would buy a season ticket at the full price?
I can't remember what the Early Bird price was for the bank this season but I paid £245. It was said that some people get a discount of almost £150 on their Flybe ST.

 

[ecfc girl]

Still not a loss though, just lower revenues surely?

The club is having to make up the shortfall to the scheme, as it's a separate entity.
I'd like to know who actually thought up this scheme in the first place....

 

[Mark Cordell]

I never like being negative about the club, but this scheme is run very badly. When somebody previously was bought on board to help get the scheme to work I was drafted in to help sell the foundation before the match. I was added as admin on the FB group and even got some tin pot certificate from the club to say I was authorised to sell it. My friend doing this left due to relocation and since I have heard nothing from the club. This was probably about two years ago. It is no surprise it has failed.

 

[pct333]

260 people @ £10 a month = £2,600. Pays out £1,000 + £433 a month in prizes? How is it making a loss?

Have I missed something very obvious?

260 x £120 = £31200
Annual prizes= £17196

Net revenue = £14004

S.T.Discount= £16293

Loss = £2289

 

[Oli]

The club is having to make up the shortfall to the scheme, as it's a separate entity.
I'd like to know who actually thought up this scheme in the first place....

Lost me there, the scheme is profitable no? Or does the scheme cross charge the discount to the club therefore runs at a accounting loss? That could make some sense, but if that is the case it is just a paper loss rather than a real one.

And you are right, it does make the assumption that x people would then go and buy a full price season ticket upon scrapping this scheme.

To be honest, scrapping it is the best long term plan. Crap idea in the first place.

 

[Oli]

260 x £120 = £31200
Annual prizes= £17196

Net revenue = £14004

S.T.Discount= £16293

Loss = £2289

But is the discount isn't actually paid.

 

[Oli]

as it's a separate entity.

Any idea who owns the entity?

 

[Strongbow]

I'd like to know who actually thought up this scheme in the first place....

I was thinking the same thing....

 

[ecfc girl]

Any idea who owns the entity?

I'm assuming the club.

Taggy was very apologetic to us all and shouldered the blame, but said it had been a board decision to start the scheme.
Apparently, there have been concerns for a couple of seasons, but they shied away from making a decision about it.