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Meadow ends contractual obligations for player payments and support of club finances

Discussion in 'Dulwich Hamlet FC' started by Scolly, Nov 6, 2017.

  1. Scolly

    Scolly Well-Known Member

    Deserves it's own thread.

    CLUB STATEMENT REGARDING ONGOING DEVELOPMENTS WITH MEADOW RESIDENTIAL/MEADOW LLP - News - Dulwich Hamlet Football Club

    On the 26th of October 2017, the football committee were informed that Meadow Residential (current ground owners, and club management company as appointed by Nick McCormack) were to end their contractual obligations in regards to player payment and club finances.

    We were told that as of November 1st 2017, all financial management and payments would revert back to DHFC Ltd’s majority shareholder and Director, Nick McCormack.

    As a football committee, made up of fans of the club who volunteer 1000’s of hours a year to help run the club we love, we were asked to take on what we feel are untenable positions and responsibilities without detailed information on the health of the club in terms of its finances, or without a say in the management of what we see as club facilities.

    We have been told that as per the terms of our license, we are entitled to net profit from match day activities (after costs have been deducted from the turnstiles and the bar). However we have no say in the management, pricing or efficiency of the match day operations, therefore our profit is dictated to us.

    On the 2nd of November, we sent a large list of concerns, and urgent questions to be answered to try and make sense of the situation, that have yet to be fully addressed.

    We hope that Meadow and it’s subsidiaries will be forthcoming with information ASAP, in an effort to rectify what has been a very worrying period for the football club since their planning appeal was pulled after the greendale lease appeal was lost and ending Meadow's development plans.

    We want to assure the fans, players, and all those associated with the club we will do all in our power, along with our partners at DHST and at Aspire, to secure a future for the football club that puts the community and club first.
     
    mrs quoad likes this.
  2. editor

    editor Taffus Maximus

    This is deeply concerning stuff. Let me Buzz this so more people can hear about what's going on.
     
    Matt The Cab and Fingers like this.
  3. Matt The Cab

    Matt The Cab New Member

    So in a sense it's the combined gate & bar takings which will cover match-day costs. That's a small comfort (albeit a weird choice of word), as I was under the impression that the two were very much separate.
     
  4. editor

    editor Taffus Maximus

  5. JackPittBrooke

    JackPittBrooke Active Member

    This is very bad news. Clearly Meadow have had a huge strop after pulling their application last month. This is a blatant attempt to strangle the club by making them liable for Meadow's ludicrous extra costs. If the club ran itself and took all the bar and gate money it would be able to survive, but like this I don't think it can. Meadow must imagine that if the club goes under then they can develop Champion Hill minus the £7m cost of a new football ground, with a bit of extra affordable housing thrown in and something to satisfy the s106 covenant. Very worrying.
     
    Last edited: Nov 6, 2017
    joe1990, AndyF, YTC and 4 others like this.
  6. darryl

    darryl this wasn't supposed to happen

    What, if anything, can we all do to help?
     
  7. vornstyle76

    vornstyle76 Vorn Chic Vorn Genre

    So are the club getting the bar money now?
     
  8. editor

    editor Taffus Maximus

    I'm unable to articulate what I think of Meadow as it would probably just come out in a stream of fuckingcuntsbastardswankersffnnggg...

    But given that the gloves are now off, maybe it's time for fans to consider an all out attack on Meadow via social media and really hurt their shitty brand. Sometimes real damage to a brand can be caused that way, and that can carry through to their future dealings with councils... Just a thought for now.
     
  9. Fingers

    Fingers From Tuscany SE22

    Or few hundred of us making some noise outside their offices.
     
    Champion_hill likes this.
  10. editor

    editor Taffus Maximus

    Yep. This and lots of other ways to make the brand really fucking stink. They've shown the total contempt they have for the community. Maybe it's time they got to know how we feel.
     
    PartisanDulwich likes this.
  11. Scolly

    Scolly Well-Known Member

    No
     
    Last edited: Nov 6, 2017
  12. Taper

    Taper Well-Known Member

    Time to call in Peter John's assurances I think. Ultimately, the club needs wresting from McCormack's dismal clutches. It can never move on otherwise. question is, how to do this.
     
  13. PartisanDulwich

    PartisanDulwich Well-Known Member

    Clear that Club officials and Supporters Trust need to stay focused and measured in their responses

    So it might be that we also need an action committee to do the hard hitting stuff as the Editor suggests

    If Meadows are going for a scorched earth policy we need to react

    "The only thing power respects, is power" Malcolm X
     
    Dulwich Mishi likes this.
  14. AndyF

    AndyF DHFC Beer Aficionado

    My thoughts. I can help on bar stuff, stock, profit etc. I worked there for three years and know (a) how it works (b) how to reduce costs and increase profit plus (c) know the vast majority of breweries personally in London. Reputation is key and DHFC have major skin in the game.

    I also have a very large card in my back pocket (killer Ace).

    Keep the faith x
     
    pompeydunc, Nivag, Jimbob73 and 8 others like this.
  15. PartisanDulwich

    PartisanDulwich Well-Known Member

    excellent - positive constructive response #more

    what stops us setting up parallel structures etc - if we cannot guarantee takings from bar for example - secure our own licence ? (sure lots of reasons why not...but...)
     
  16. Pink Panther

    Pink Panther Well-Known Member

    The only thing that really hurts people like them is anything that minimises their profits.
     
    editor likes this.
  17. sleaterkinney

    sleaterkinney Well-Known Member

    Are DHFC Ltd a going concern?, have meadows loaded debt onto the club?
     
    YTC likes this.
  18. StephenMac

    StephenMac Well-Known Member

    Time for Southwark to unequivocally state that no housing can be built on the ground, either now or in the future.

    A word of warning about any protests - no matter how emotive the issue don't get involved in issuing any personal threats, no matter how throwaway. At least twice in the past owners of non-league clubs have used supposed threats as final justification for pulling the plug. Meadow and McCormack have zero positive PR going on unsurprisingly and we need to make sure we don't give them anything.
     
    joe1990, Blitzwalker, clog and 6 others like this.
  19. YTC

    YTC Human Man

    Meadow still have (according to them) an option on McCormack's shares, so he can't do anything.

    The gloves are off, we either die slowly at their hand, or go down with a fight. I know what I'll be choosing.

    The 12th Man is out best bet at keeping the money coming in for football, so I implore all of you to give what you can either at games or via their paypal.

    We have to keep together, keep strong, remember why we're all here and let's focus on doing whats right for OUR club and OUR community.
     
  20. Matt The Cab

    Matt The Cab New Member

    Sorry but the way I read the club statement is that the bar takings are essential, as they plus the gate pay for everything from player wages, match day costs & bills etc.

    Don't forget we recently turned over £9k in profit on NLD, I've no idea if the bar takings were included in on that figure or it was just based upon what was a very large gate. Whichever it was the potential is out there
     
    StephenMac and Dulwich Mishi like this.
  21. YTC

    YTC Human Man

    yooouuu betcha.
     
  22. YTC

    YTC Human Man

    Our concern is they have full control of how much they spend on match day, and we have no say, so we could be told costs were very high and we only get £5, if they wanted to play it that way.

    This is why the 12th man is so important, that money goes straight to players wages.
     
    Nivag and Scolly like this.
  23. Scolly

    Scolly Well-Known Member

    The fact Meadow own the ground and lease it DHFC Ltd to play games on it, therefore they can dictate the terms. I.E we (Meadow) will continue to run the bar.

    Solution - don't use the bar, but then their; revenue falls and so does any potential profit share / strengthens the argument that the current ground is not viable to continue to use as a sports ground. Catch 22
     
    Matt The Cab likes this.
  24. YTC

    YTC Human Man

    If we turn up in numbers though, make a load on the door, and pack the 12th man bucket, we keep more money. Put the money you'd put behind the bar into the 12th man and nothing gets taken out of it..
     
    Pink Panther likes this.
  25. PartisanDulwich

    PartisanDulwich Well-Known Member

    agreed need to maximise attendances and support 12th man

    re parallel structures - what would stop us setting up a tent and selling cans if we had a licence (just looking at money raising options) - I take it somehow Meadows would use their security stewards ?
     
  26. editor

    editor Taffus Maximus

    That's something I would NEVER encourage. No harm in identifying the people who are behind this though. Some often have big egos that hate any kind of negative PR and a bit of digging can sometimes produce some 'interesting' and possibly press worthy connections.
     
    Pink Panther and StephenMac like this.
  27. editor

    editor Taffus Maximus

    Once things have got a little clearer, maybe a big piece in Buzz about the financing structure and the importance of paying into the 12th Man scheme may prove beneficial?
     
    Fingers likes this.
  28. Taper

    Taper Well-Known Member

    I wish i understood more of the detailed commercial position. But the long term aim is surely to get the club under new ownership; ownership which has the club's interests as its priority. Actions taken now need to help get us towards that. Presumably it is in Meadows interests to protect their position, meaning getting out as soon as they can while minimising their exposure to any losses. That is very unlikely to be in the interests of the club.

    I can probably stand the club a grand if i get it back before Xmas, if that helps.
     
  29. YTC

    YTC Human Man



    Get this RT'd!
     
    Jimbob73 likes this.
  30. cambelt

    cambelt Well-Known Member

    It would be pretty useful if we could find out roughly where it leaves the club in terms of a weekly/monthly financial hole to plug. Am pretty sure large amounts of money could be raised if there were definite targets set.
     

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