Standing Orders

[Les Beeavinu]

I've got one of these but with the news today, I'm even more confused where my money actually goes to and gets used for. Could the standing orders donations now be re-branded so that it is more specific what it is being used for e.g. a transfer fund?

Just thoughts really ......

 

[Banana]

I've got one of these but with the news today, I'm even more confused where my money actually goes to and gets used for. Could the standing orders donations now be re-branded so that it is more specific what it is being used for e.g. a transfer fund?

Just thoughts really ......

David Merritt answered this specific question in the GPG news story:

"GPG Towers also spoke with the BU Chairman today about the monthly Standing Orders that BU members pay to Bees United and asked him if BU members will be expected to continue them and where this revenue will go. David Merritt replied “Absolutely! BU is in this for the long term. This deal increases the level at which Brentford FC can operate for the five year partnership, but it's not unlimited. All money raised by BU will either go into supporting the Club (raising the level for BFC even further, giving us an even better chance of success) or maintaining the long term protection for the Club via BU ownership (of ordinary shares and of the Golden Share). The question should be "How can non-members join BU", because if anyone ever doubted that BU would be a force for good for Brentford FC they surely cannot doubt it now. Every member, every pound, will continue to help BFC.”.

 

[Les Beeavinu]

Too vague. What does "supporting the club" actually mean - solving the onion crisis perhaps? I think the danger is that standing orders will drop off so I think BU could be a bit more specific here, market it differently and in that way, people's interest in donating might be maintained.

 

[Banana]

I believe BU still need income to repay the £250k Barclays Bank loan and another £50k loan.

 

[Les Beeavinu]

I believe BU still need income to repay the £250k Barclays Bank loan and another £50k loan.

Good information - again, if BU related donations to that kind of specific, I think it would be helpful.

 

[JBN]

BU are going need a few pounds in 5 years time if they are looking at taking the club over or reducing the majority shareholders shareholding and move to a new stadium and fund a Championship side and keep onion supplies up.

 

[Banana]

I also believe that BU has the right to buy some shares if MB sells up to a third-party, so it may need money for that eventuality too.

 

[halifaxbee]

If the standing orders can enable BU to clear its debts; Abee gets the club to break even within two years and Matthew Benham invests £1million+ per year we really will be heading in the direction.
Then when the housing market picks up Lionel Road will provide the next step.

 

[SCBee]

I believe BU still need income to repay the £250k Barclays Bank loan and another £50k loan.

No worries, by my reckoning my standing order ought to knock these off on it's own in about 500 years or so

 

[lalalalalalalalalaBooker]

But...doesn't the new arrangement downgrade SO's from a vital lifeline to keep the club in existence to a desirable revenue stream for BU?
One was absolutely essential, the other might be quite nice.

I am content that us happy (and regretably small) band of SO holders have saved BFC, but I'm not sure people can be or should be expected to keep on giving, for little return, indefinately.

Maximum credit to all those who gave, and continue to give, time and expertise to BU, but when the deal has been done I believe some thought needs to be given to why/whether SO's exist, and/or justifying their continuation (or otherwise).

On the other hand, all the nay sayers who dodged out of BU so that they could carp on about its failings from the sidelines may wish to nibble a little humble pie and sign up for ordinary BU membership.

 

[Banana]

But...doesn't the new arrangement downgrade SO's from a vital lifeline to keep the club in existence to a desirable revenue stream for BU?.

BU still has to pay off the £250k loan from Barclays that it used to pay off Noades and it has to pay back £50k to a helpful supporter (which was used for the same reason). That hasn't changed with the proposed new arrangments.

Standing Orders are a vital lifeline to pay off these loans.

 

[Luton Bee]

Do they (s/o's) also go towards Lionel Rd running costs

 

[Banana]

Do they (s/o's) also go towards Lionel Rd running costs

No, Lionel Road "running costs" are met entirely by Barrat Homes Ltd.