More investment from Simon Hallett | PASOTI
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More investment from Simon Hallett

jthep

✅ Evergreen
🚑 Steve Hooper
✨Pasoti Donor✨
Apr 28, 2011
228
600
Awesome financial commitment here - and he is clearly intent on the club operating without debt on a day to basis. Also I suggest saying that "I am here for the long run"

We are very lucky indeed - first James Brent to steady the ship and then SH to recapitalise.
 

IJN

Site Owner
Nov 29, 2012
9,157
22,665
That's a lot of spondooliks that's for sure.

Well done S&J. :clap:

Can't wait to get in there and sample the delights of what is on offer.
 
Jun 2, 2016
1,078
216
great commitment - any idea what the one-off costs were for ? presumably optional spend as the contract with GL protected us against overspend
 

JannerinCardiff

🏴󠁧󠁢󠁷󠁬󠁳󠁿🏴󠁧󠁢󠁷󠁬󠁳󠁿🏴󠁧󠁢󠁷󠁬󠁳󠁿🏴󠁧󠁢󠁷󠁬󠁳󠁿🏴󠁧󠁢󠁷󠁬󠁳󠁿🏴󠁧󠁢󠁷󠁬󠁳󠁿
♣️ SWAG Member
Jul 16, 2018
7,835
3,605
Cardiff
Brilliant!! We really do have the best owner!! Thank you Simon and Jane! :thumbup:
 

PL2 3DQ

Site Owner
🏆 Callum Wright 23/24
Jade Berrow 23/24
✨Pasoti Donor✨
🌟Sparksy Mural🌟
Oct 31, 2010
24,125
9,999
Great stuff! We really are in good hands.
 
Aug 5, 2016
5,100
1,408
Does that mean the Grandstand ran into unbudgeted additional costs?

Credit to Simon Hallett, in this day and age of shysters in football we are incredibly lucky to have him at the helm.
 
May 11, 2017
438
384
Great Yarmouth
We are in great hands! Thankyou Simon for caring about this club and really bringing our infrastructure into the 21st century. Our stadium has been improved no end and off the field generally we are much more professional.

I'm very excited going forward on and off the pitch. :thumbup:
 
May 8, 2011
5,788
793
Personally I find the statement concerning in that cash is needed to ensure sufficient cash balances until the end of the current budgeting period.
This implies that expenditure is outstripping income despite attendances maintaining at last years levels.
For the future it strikes alarm bells should Argyle not get promoted as then attendances will drop causing a downturn in income.
But as the statement is short on detail it is difficult to gauge if there is a real underlying problem with budgets.
 
Jul 14, 2008
764
20
HC Green":t3w30iol said:
Personally I find the statement concerning in that cash is needed to ensure sufficient cash balances until the end of the current budgeting period.
This implies that expenditure is outstripping income despite attendances maintaining at last years levels.
For the future it strikes alarm bells should Argyle not get promoted as then attendances will drop causing a downturn in income.
But as the statement is short on detail it is difficult to gauge if there is a real underlying problem with budgets.

Agreed I also found it slightly concerning although obviously very grateful to the Hallett’s.
 
Aug 11, 2013
2,281
741
Whilst the investment is welcome, history tells us this isn't good news really.

The situation is made worse by the fact that all majority of the debt/loan is with one shareholder.

I pray the stand starts to generate the income anticipated.
 

Kevin Gollop

🎫 S.T. Donor 🎫
Sep 24, 2003
1,158
96
Plymouth
Knibbsworth":30ke6uzb said:
Does that mean the Grandstand ran into unbudgeted additional costs?

Credit to Simon Hallett, in this day and age of shysters in football we are incredibly lucky to have him at the helm.

From Jon Back's blog posted today: https://www.pafc.co.uk/news/2019/november/grandstand-blog/

JonB":30ke6uzb said:
In fact, one of the many things that happened over the past few months saw Simon and Jane (and the wider Board) quietly agree to a number of upgrades to the project which will be really noticeable when you are in there. At an additional cost of several hundreds of thousands of pounds, improved fixtures, fittings and finishes really lift the already great end result, and the addition of things like high-end resin floors throughout the grandstand will aid maintenance and longevity, as well as look fantastic.
 

Graham Clark

🏆 Callum Wright 23/24
✅ Evergreen
🚑 Steve Hooper
Nov 18, 2018
1,061
4,561
Jon Back's 'Grandstand Blog' states

"In fact, one of the many things that happened over the past few months saw Simon and Jane (and the wider Board) quietly agree to a number of upgrades to the project which will be really noticeable when you are in there. At an additional cost of several hundreds of thousands of pounds, improved fixtures, fittings and finishes really lift the already great end result, and the addition of things like high-end resin floors throughout the grandstand will aid maintenance and longevity, as well as look fantastic."

The GL Events contract was to hand over the Grandstand prior to internal fit out by the Club. So it is presumed that the fit out cost was in addition to the £6.5m+ contract cost with GL Events. A glance at the most recent GoS photos shows the calibre and quality of the fit out and why costs have risen. In addition, I imagine the upgrade of the stadium sound system would have been a significant figure outside of the Grandstand costs. You also have the substantial earthworks in Central Park to create the surface water drainage overflow swale to enable Home park and HHP to properly drain and meet climate change requirements. Another significant cost.

Hopefully, all exceptional costs are now covered with this most recent cash injection and the Club will truly be placed on a sustainable footing which requires no unexpected additional funding. Much will revolve around the success of the team on the pitch. Positive results leading up to the holiday period will result in bumper crowds and of course we have the possibility of a favourable FA Cup draw if we make it past Rovers on Sunday. The hospitality offer will also soon be in full stride and the stadium can now host valuable revenue generating concerts such as those recently announced.

I sense we are on the cusp of far better financial fortune, without worrying budget constraints and, as others have said, we should be eternally grateful to Simon and Jane for their desire and willingness to properly fund this path to a genuine sustainable football club fully embedded within the community and region it serves.