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Dr Martin Price said on TV last night

Wed Feb 17, 2010 11:34 am

When asked about Mr Ridsdale. After casting his eyes over the published accounts i.e accounts up to 2008 that "THE POSITION IS THAT SINCE HE TOOK OVER THE CLUB HAS LOST A FURTHER 7 MILLION POUNDS"

So in the period that he took over in 2006 until may 2008 the club has lost £7 million. What will the next published set of accounts show i.e. accounts up until 2009? well we won't find that out at the EGM because those accounts are not yet published of course. will we get to see any accounts (management accounts) i.e finances from May 2008 up until february 24th 2010? will we see the current trading position?

Re: Dr Martin Price said on TV last night

Wed Feb 17, 2010 11:59 am

ihatealiens wrote:When asked about Mr Ridsdale. After casting his eyes over the published accounts i.e accounts up to 2008 that "THE POSITION IS THAT SINCE HE TOOK OVER THE CLUB HAS LOST A FURTHER 7 MILLION POUNDS"

So in the period that he took over in 2006 until may 2008 the club has lost £7 million. What will the next published set of accounts show i.e. accounts up until 2009? well we won't find that out at the EGM because those accounts are not yet published of course. will we get to see any accounts (management accounts) i.e finances from May 2008 up until february 24th 2010? will we see the current trading position?


To be fair the £7m figure is incorrect because it included £1.3m of accumalated interest which was tagged onto the £15m capital sum owed to Langston.

As all historical interest was wiped due to the new agreement reached before Christmas, it is fair to say the actual losses up until May 2008 were £5.7m.

Mind you that is still bad and really doesn't change your point, but I assume Ridsdale will drag up his 'saving' of £1.3m as an example of his 'prudent' Chairmanship.

It is subtle things like that the Trust must be ready for when they ask their questions at the EGM.