By Neil Ravenscroft
December 16 2003

We have been supplied with a list of the questions asked at the AGM by the Supporter's Trust and at the Focus Meeting. As for the answers . . . . We have been supplied with a comprehensive report of the AGM and the Focus Meeting by Richard Hall. I have to point out that the views expressed are those of the Trust and not necessarily of the Site.

Our questions with their inadequate answers.

1. How does the Board of Directors plan to fund the development of the proposed new stand?
By securing advertising for the stand. If they do not get planning permission for the adverts then there will be no stand.
Trust view: They did not state how they would fund repayments for the stand, or what security would be put up for any loans. They did not
state how much in pre-paid contracts would be required to trigger the building of the stand.

2. What risk assessment and financial contingency plans were put in place at the signing of these deals?
No risk assessment was carried out, because of the contracts were deemed to be watertight. They were assured by the Football League that it was a legally-binding contract.
Trust view: In a business age that is built on risk assessment this is disappointing. At the time of the ITV Digital collapse Mr Bonser argued
that "Any well-run business will always have contingency plans in hand, just in case a major sponsor pulls out or it hits a difficult trading situation" and yet today we found out that there was no risk assessment.

3. What strategy does the Board have for increasing turnover?
They are always looking at different ways of increasing turnover. Working very hard to increase commercial income. However, this will only offset the loss, not give us additional income.
Trust view: There was nothing here on increasing crowds or the hotel.

4. In what areas are further savings anticipated and how will these affect on-field activities?
The Board will continue to investigate all avenues of savings. They are doing all they can to avoid on-field being made.

5. Does Walsall FC Ltd. have the liquidity to enable it to pay its debts as they become due?
Yes, they do have the liquidity.
Trust view: But they did not answer the second question, which asked where these monies would come from.

6. Can the Board confirm that our outstanding debts have been collected?
Yes they have been collected.

7. Walsall FC Ltd. took out £462,000 of financing last year, whilst the bank balance decreased by £475,000 and creditors increased by £900,000. Other than from our debtors, where will the monies come from this year to cover these liabilities?
In spite of our losses we will continue to improve the situation. We have contingency plans.
Trust view: They made no further comment about where monies would come from. The supporters need more on this.

8. Is the bank balance of Walsall FC Ltd. currently negative?
This is referring to next year's accounts and will be covered in next year's report.

9. There is a £566,000 accrual for players' and agents' fees. Can the Board clarify the make-up of these fees?
They would not divulge personal details - this is normal business practice. However, they are fees owed to agents and players.

A separate question was asked re: WFC's return to profitability in 03-04 (as stated by the Board) - what progress had been made?
The answer was (wait for it)... satisfactory.

The follow-up question was "is this return to profitability compatible with staying up?"
The answer was that it will not be easy.

Walsall Supporters Focus Group Meeting 15/12/03 8.20pm

The meeting started 20 minutes late and was poorly attended with just 7 supporters and RW. It lasted just over an hour with RW in much less talkative mood than previously. On some points he stated the clubs position and then simply refused to take any questions. A bit of a contrast to last time when he enthused about potential new signings and the Man Utd link up for almost 2 hours.

Key Issues:

Cash Turnstiles. RW admitted he is aware that other clubs with all seater stadiums do operate a cash turnstile. He accepted that Sunderland did this a few weeks ago. However he stated that there is absolutely no chance that Walsall will adopt a cash turnstile. He stated that there have been no problems encountered with excessive queuing this season and that the discounted tickets on sale in advance at the club shop were well received. After making this short statement he refused to take any questions on this issue.

New Stand. Planning application submitted. Walsall Council had already visited the site and requested further (minor) info, which the club had supplied. If the advertising board is not permitted the development will not go ahead.

RW stated that a finance package was in place to fund the development. He would not be drawn on who will finance the initial outlay. A loan at a "commercial rate of interest" will be taken out possibly from a bank or directors loan. Exact interest rates would not be divulged at this time but we were told this would be obvious from the clubs published future accounts.

In terms of the risk assessment for this development RW claims that potential advertisers have already expressed an interest through a London based agency that the club has worked with previously. Selling the space is not envisaged to be a problem although he hinted that advertisers were already trying to offer reduced bids for existing space as the impact of the M6 TOLL will reduce the effectiveness of the site by removing potential viewers.

In the light of criticism of existing M6 advertising schemes, notably the Fort Dunlop development, I enquired if he had considered a worst case scenario of a total ban on motorway advertising leaving us with a stand that could not be financed. RW was adamant that such a ban was not immediately likely (in his opinion) and in the long term did not matter (for the stand) as it would pay for itself in 5 years. When asked if that meant all capital investment, loans and associated interest paid for in 5 years he nodded.

Interestingly the development has significant police support (Supporting letters from W. Mids police have accompanied the planning application). Apparently, this season a number of incidents have occurred in the town centre on match days relating to aggressive behaviour from visiting supporters. The new stand with its bars and TV facility will encourage visitors to go straight to the stadium easing police burden.

Hotel. Definately will happen. Should be "well advanced" by end of 2004. Once this is complete the concourse area in the Purple Stand will be upgraded to Bonsor Suite standard. No decision has been taking on the naming of the new concourse development. It will not be ready until after the Purple Loans sponsorship has expired (if it is not renewed) but RW would not rule out further commercial sponsorship. Some supporters wanted the development named after Gilbert Alsop.

Attendances. "Not great but encouraging" said RW. He pointed out a steady upward trend in both matchday attendance and ST sales.

New NO 2 to CL. Must be appointed at some point according to RW as Halsall is desperate to get back to youth coaching. There were several good quality applications but the financial situation prevented an appointment. This was another point he refused to take any further questions on.

Pope / IRA song. RW claims to have heard this just once all season. That was at Sunderland and was sung by home fans only. He shook his head when I suggested a group of at least 100 Walsall fans sing this at every away fixture. He said that he had received just 2 letters of complaint relating to fan behaviour this season and both related to supporters standing in the Purple. No further questions would be taken on this issue.

Internet Site. NTL deal will not continue after the summer. The club are not happy with the current deal and feel that income has not being maximised. RW said he appreciated the use of the site by supporters (30,000 hits a week and 500 Saddlers World subscribers) but the club would like to see more use of the e-commerce and especially the on line betting facility.

At this point (aprox 9.30) we broke up.

One obvious thing of great interest to readers of this site is that the "Pope and IRA" song will only disappear if we complain!