Further to the Fans Forum on Monday night the Clubs board would like to clarify the current position.

The Board
The Board consists of Ed Connell, Steve Duly, Spencer Day, Mark McGowan and fans representative Kevin Dyer

Shareholdings

The Clubs main shareholders are currently Rob Prince and Spencer Day.

Spencer has made it clear to the board that he will be standing down as a Director and shareholder in the coming weeks to concentrate on football management.

He is assisting making the Club sustainable at this exciting time and his share holding will either be sold to Robert Prince or other parties currently in negotiation.

The funds to purchase the club out of Administration and pay significant bills were paid directly from shareholders.

CVA

The terms of the CVA are unknown until the Administrator rules on the clubs debts.

Over £2m of the original quoted figures are owed to the current shareholders and will sit behind any CVA repayments so the Club will owe considerably less than expected.

These debts will be paid within three years unless negotiated earlier.

Some of these debts have already been settled.

Improvements

1. It is the intention to get the PRE open as soon as possible with an estimate of four to six weeks.

We believe that the required elements are some final steel barriers, safety lighting and a PA system however we await a full requirement from the Council.

These works will cost less than £10,000 and the Club is due a rebate on its original grant that will cover most of this.

We feel it is important that the Club finally gets this stand open as part of our plans to make the Club self sustainable.
2. We are working towards the Cafe opening on Monday morning to serve breakfast, snacks and lunch in the first instance.

It will then be developed further in conjunction with the bar.

These elements are vital to the business and reasonable investment will be placed into them including a new ‘facility manager’ to drive the business forward.

Further details will follow
3.. A new extensive hot water system has been fully installed. A new mains gas supply has also been ordered.

4. The current main scoreboard is expected to be deemed as unrepairable due to a lack of parts.

We are hopeful that the sign at the entrance may be repaired in order to advertise the events being put on by the Club

Lease

We are extremely grateful to the Council for issuing us new terms on our current lease.

We intend paying a substantial deposit which will cover the next years payments up front before the end of September.

Working with the Council and finding joint ways to improve this community centre is a major priority over the coming months and years

Sponsorship

The Board rightly is delighted with the support of our major new sponsor Paddy Power.

Their support and generosity has been fantastic, however we should make clear that due to being in Administration we currently have no other sponsors at all and previous sponsors are currently being contacted  now that we have entered the Conference.

Our financial position therefore is only very slightly stronger than where we were this time last year.

FaST

The Board of Directors have written to members of the FasT Board to discuss how the club and supporters can engage going forward.
Season tickets and admission  prices
The Board agrees that having received a fresh start and such huge publicity there will never be a better chance to make the Club self sustainable.

 Therefore until 31st December 2013 the Club in conjunction with Paddy Power will be offering free season tickets (subject to conditions) to our supporters and the local community.

As such season tickets prices are being set at £0 for this period.

Downloadable  forms will be available online and at the club shortly and season tickets will be available to pick up next week (we are aiming for these top be available in time for Tuesday nights match against Boreham Wood).

 Entry prices for those without season tickets for League matches up to December 31st will be set at £10 per adult including a match programme and £5 for concessions (no programme), Under 16’s will be free throughout.

The Boards thinking is that despite it generally being accepted that the team played some great football last year gates continued to fall.

It is exceptionally tough economic times in the world and we wish to entice new and old supporters back to Farnborough.

With the hopeful opening of the PRE in October our new stand will also give a fantastic addition to the stadium.

By enticing more people to the ground it is hoped that they will get involved with the club and keep coming back for future years as well as support the community club in other events such as our facilities and special events such as Fireworks and Carols on the Pitch.

At the bottom of each Season ticket application form is a donation slip.

We of course need to bring in as much income as possible and any donations are gratefully received.

In this point any donation over £200 (last years adult season ticket price was £180) will have that persons name put on a plaque in the new PRE to thank them for their support in this new period.

Marketing and Supporter engagement

Kevin Dyer and Mark McGowan will head our work in the community.

We thank the amazing support in less than 36 hours that distributed leaflets and spread the word for Saturdays game that brought in nearly 1200 people.

A ‘management committee’ is being formed to continue this work on a weekly basis and extend it with suggestions of newsletters and events actively being looked at.

Playing team

It will take a couple of weeks to settle down but everyone is delighted with the first win against Dover.

Budgets will be monitored strictly and it is hoped the enlarged academy of over 40 boys will only help the future of the Club

In conclusion

The club has a fantastic opportunity to move forward.

Investment is being strictly looked at within the various departments of the Club that can bring in new incomes.

 A huge amount of thought and expense has gone into producing a plan to give the club a chance to be self sustainable and we need our supporters to help throughout.

It’s your club and together we can have a bright future

The Board of Directors