GRAHAM ON FINANCES
In today's NL Paper Graham Heathcote is quoted on the subject of punishments for financial irregularities. He said, "For me, the biggest mistake is docking clubs only ten points if they go into administration. Ten points for a high-flying club is a slap on the wrist. It becomes a calculated risk that they can lose their debts and still be OK. They should be relegated at least one division. That would make clubs sit up and take notice. At the moment the Conference rules will not stop people chasing the dream and putting their existence on the line. We were £700,000 in debt but the new board have eradicated most of that [without going into administration]. Because we balance the books, we cannot be extravagant like other clubs". The article adds that "Kidderminster chairman Barry Norgrove also backed the scheme".
Well said Graham
I find it hard to disagree to an extent, but at Cambridge we were severely financially mismanaged by people who have fled the club. Why should we, the fans, or the new regime, have to suffer for peoples ills who are no longer there? Why shouldn't there be something in punishing the likes of the people that cause this bad management? As altysmiffy said further up, its always the honest fans that suffer. Cambridge have never been a 'big spending' outfit with some bank roller, so i don't like how we get lumped into the same category as Rushden or Crawley.
There's no way Cambridge could be deducted points again and relegated on the strength of not being able to cover our losses because of our previous board. We've tried cutting costs to the max but a crippling £200k rent per annum means we either continue to lose money, or cut costs to an extreme that it could finish us off.
I haven't had (nor expected) much sympathy from the likes of altysmiffy or gazwarrington on this subject, but i just hope you understand that theres a million reasons why certain clubs have to continue losing money to an extent. It's not always black and white 'cut costs now or else!'. If we win the battle to buy our ground back again, then we can get on an even keel, until then we have to keep going as we are. If we don't get the Abbey back, then we're f**ked anyway. But we have to give it a shot.