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Bailout Agreed

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pontoonlew
December 3, 2020, 12:46pm
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Finally!
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pontoonlew
December 3, 2020, 1:04pm
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Bailout includes a minimum of £250,000 up front for us. Plus an additional figure based on lost gate money which will come later.

The money is in grants which means it doesn't need to be paid back.
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golfer
December 3, 2020, 1:09pm
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Have sent letter to JSF telling him we don't want it -we would only spend it on new players - as if we need any. Tell them we have pride
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grimsby pete
December 3, 2020, 1:14pm

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Good news might need to spend a bit of that for a proven striker.


                             Over 34 years living in Suffolk but always a mariner.
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grimps
December 3, 2020, 1:34pm
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With our wage bill drastically reduced this season and us making our usual yearly profit I’m wondering how much of this we will really need ?
I’d expect the other clubs in the league will benefit a lot more than we will
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Withnail
December 3, 2020, 1:36pm
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Great news!

Presumably our frugal approach in the summer will now put us at an advantage over some of our League Two rivals (those who threw caution to the wind) when the window reopens in January?

There must be a fair few clubs for whom these welcome grants will just be a case of robbing Peter to pay Paul. Hopefully we're not in that bracket.
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Withnail
December 3, 2020, 1:42pm
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Further £15m will be distributed using a lost gate revenue share calculation. Again, this will put us at an advantage over most other clubs in League Two.
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Poojah
December 3, 2020, 1:52pm
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Quoted from Withnail
Further £15m will be distributed using a lost gate revenue share calculation. Again, this will put us at an advantage over most other clubs in League Two.


That £15m is to be split between the 48 clubs in League One and Two, meaning the average amount a club will receive is £312,500.

Of course, this is all based on gate receipts rather than attendances however doing a quick bit of maths the average attendance across those two divisions last season was 6,633. Town's average gate was 4,599 - 69% of the average. On that basis, you'd expect us to receive a figure loosely in the region of £215,000, taking the total amount to £465,000 which will no doubt be very helpful.

Things like ticket pricing and the number of concessions may skew that slightly, but I would think it will be somewhere in that ballpark.


A smooth sea never made a skillful mariner.
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Poojah
December 3, 2020, 2:01pm
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Quoted from Poojah


That £15m is to be split between the 48 clubs in League One and Two, meaning the average amount a club will receive is £312,500.

Of course, this is all based on gate receipts rather than attendances however doing a quick bit of maths the average attendance across those two divisions last season was 6,633. Town's average gate was 4,599 - 69% of the average. On that basis, you'd expect us to receive a figure loosely in the region of £215,000, taking the total amount to £465,000 which will no doubt be very helpful.

Things like ticket pricing and the number of concessions may skew that slightly, but I would think it will be somewhere in that ballpark.


Just to give this some further context, that £465,000 is roughly the equivalent of 1,800 season tickets (again depending on the split between full paying adults and concessions), meaning that with those actually sold we have something close to the value of just over 3,000 sold.

With Town receiving around £10,000 a game from iFollow viewings and anticipated savings on the wage bill, you'd have to hope that any deficit is now well within a manageable realm for the club.

This is live saving news for clubs like Town. This season was all about survival; existential first, then our league status. Hopefully it means we only have to worry about the latter now, and if we can find a way to move away from the relegation zone and avoid any serious flirting with the trap door this will represent a successful one for me, under the circumstances. Just need to turn that 'if' into reality.


A smooth sea never made a skillful mariner.
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pontoonlew
December 3, 2020, 2:04pm
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Let's hope we spend it wisely but knowing our owners it'll not be spent at all and we'll still be blaming Covid in 2023
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