Archived News from February 2014
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RADFORD: I'VE HAD TO CUT MY CLOTH ACCORDINGLY
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Chairman issues rallying cry
mansfieldtown.net, 5th February 2014 Chairman John Radford has issued a rallying cry to the people of the town to back their local professional league club. Read more at http://www.mansfieldtown.net/news/article/chairman-issues-rallying-cry-1340060.aspx#V24TPwBgRjYZRwFQ.99 Mr Radford’s plea comes on the back of a statement issued by supporters’ group Stags Fans United last week, who revealed that the chairman had been advised to reduce the loans from One Call Insurance [Mr Radford’s company] to the football club from £100,000 per month to £34,000 per month. The Stags’ chief has since confirmed that his financial support will now come from his personal wealth, instead of One Call Insurance. It can also be confirmed that the club is close to reaching its limit for fulfilling Financial Fair Play criteria, where clubs in League Two can spend a maximum of 55% of turnover on players' wages. “I’ve had to cut my cloth accordingly,” said Mr Radford. “The club’s finances are okay at the moment. Wages and bills are being paid as normal but it would now be helpful for a fellow investor to come on board to help share the burden, especially with another court case on the horizon which the club will have to battle with. I thank my fellow directors Steve Middleton and Andy Sutton for their support, and we could do with another new face on the board who also has the club’s best interests at heart. “What we need more than anything though, is for people to come through the gates on a home matchday. It doesn’t help when people are staying away. I feel I have done my part by rescuing the club from its knees over three years ago, putting the stadium back into the club’s hands and financing the club to help us achieve promotion after five years in non-league.” Home gates are currently averaging at around 3,400, but 4,500 is needed to stand a chance of breaking even. “I said at the start of the season that we needed over 4,000 people through the turnstiles at home, on average, for the club to break even. That hasn’t materialised,” Mr Radford continued. “It is crucial that we get more people coming to home games. I applaud the fans who watch us on a regular basis. Their support of the club is sincerely appreciated, but I know there are fans out there, for whatever reason, who aren’t coming to matches and we need them back. The football club needs them to come to the games, and so does the Town.” Meanwhile, former directors Steve Hymas and Andy Saunders, who are demanding repayments of almost £1m in directors loans, last week offered the club to make repayments of £48,000 per year, which will be payable monthly, and payouts to commence at the start of the 2014/2015 season. Responding to the offer Mr Radford said: “I have £4million in loans at the football club and would like to get them back at the rate of £48,000 a year. That would be great, but it isn’t going to happen is it? It has now reached the stage where I will have to see them in court.” ----------------- Stags chairman issues rally cry after One Call cash is slashed chad.co.uk, 05 February 2014 Mansfield Town chairman John Radford has issued a rallying cry to the people of the town to back their local professional league club. http://www.chad.co.uk/sport/mansfield-town/stags-chairman-issues-rally-cry-after-one-call-cash-is-slashed-1-6418414?utm_medium=twitter&utm_source=twitterfeed Mr Radford’s plea comes on the back of a statement issued by supporters’ group Stags Fans United last week, who revealed that the Stags chairman had been advised to reduce the loans from One Call Insurance (Mr Radford’s company) to the football club from £100,000 per month to £34,000 per month. The Stags’ chief has since confirmed that his financial support will now come from his personal wealth, instead of One Call Insurance. Chad also understands that the club is close to reaching its limit for fulfilling Financial Fair Play criteria, where clubs in League Two can spend a maximum of 55 per cent of turnover on players wages. “I’ve had to cut my cloth accordingly,” said Mr Radford. “The club’s finances are okay at the moment. Wages and bills are being paid as normal, but it would now be helpful for a fellow investor to come on board to help share the burden, especially with another court case on the horizon which the club will have to battle with. “ I thank my fellow directors Steve Middleton and Andy Sutton for their support, and we could do with another new face on the board who also has the club’s best interests at heart. “What we need more than anything, though, is for people to come through the gates on a home matchday. It doesn’t help when people are staying away. “I feel I have done my part by rescuing the club from its knees over three years ago, putting the stadium back into the club’s hands and financing the club to help us achieve promotion after five years in non-League.” The Stags are currently averaging home gates of 3,400, but need 4,500 to stand a chance of breaking even. “I said at the start of the season that we needed over 4,000 people through the turnstiles at home, on average, for the club to break even. “That hasn’t materialised,” Mr Radford continued. “It is crucial that we get more people coming to home games. I applaud the fans who watch us on a regular basis. “Their support of the club is sincerely appreciated, but I know there are fans out there, for whatever reason, who aren’t coming to matches and we need them back. The football club needs them to come to the games, and so does the town.” ----------------- Cash row heads for court after Radford turns down offer chad.co.uk, 05 February 2014 Mansfield Town chairman John Radford has flatly turned down a new offer from former club owners Steve Hymas and Andy Saunders to solve their financial row with the Stags, which is currently set to end up in court. http://www.chad.co.uk/sport/mansfield-town/cash-row-heads-for-court-after-radford-turns-down-offer-1-6418412 The pair are demanding repayment of almost £1m in directors’ loans from their time at the helm of the club, but current owner John Radford has said the club cannot afford to pay them right now, which has resulted in the threatened court action. However, Hymas and Saunders have already said they do not want to see the club come to any harm and are very happy to negotiate a drip-feed repayment. Last week, the pair issued a statement, stating: “We are prepared to accept £24k per year each, which will be payable monthly, and payouts only to commence at the start of the 2014/2015 season. “This will allow the club to stabilise its position in the Football League and work this into future budgets, helping to reduce ongoing debts, which can only be a benefit to the club. “It has never been our intention to bring this into the public domain ad we have never sought to damage the long term future of the club.” However, yesterday, responding to the offer Mr Radford said: “I have £4m in loans at the football club and would like to get them back at the rate of £48,000 a year. “That would be great, but it isn’t going to happen is it? “It has now reached the stage where I will have to see them in court.” -------------------- John Radford interview in CHAD, 05Feb2014 ------------------- Mansfield Town: Chairman John Radford appeals for new investor http://www.bbc.co.uk/sport/0/football/26049386 Mansfield Town chairman John Radford has appealed for new investment in the club to help "share the burden". Radford confirmed that his continued financial support of the Stags will now come from his personal wealth and not his company One Call insurance. As a result, loans to the football club have been reduced from £100,000 to £34,000 per month. "It would now be helpful for a fellow investor to come on board to help share the burden," he told the club website. "I've had to cut my cloth accordingly. The club's finances are okay at the moment. Wages and bills are being paid as normal. "I thank my fellow directors Steve Middleton and Andy Sutton for their support, and we could do with another new face on the board, who also has the club's best interests at heart." Last week Mansfield revealed they could not afford to sign players before transfer deadline day because of legal action against them by ex-shareholders and directors Andy Saunders and Steve Hymas. Manager Paul Cox has since told BBC Radio Nottingham there "could be scope" to sign players on loan, but Radford said the League Two club's most pressing issue would be to lift attendances to an average of 4,500 in order to break even. They have averaged 3,400 at Field Mill so far this season. "What we need more than anything though, is for people to come through the gates on a home match day. It doesn't help when people are staying away.," Radford added. "I feel I have done my part by rescuing the club from its knees over three years ago, putting the stadium back into the club's hands and financing the club to help us achieve promotion after five years in non-league." --------------------------- |
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