All good things come to an end. Or so they say. AFTN has been around since 1989, first as a fanzine and then making the jump to a website and forum in 2003. We've been through the many ups and down at East Fife in those 12 years but policing the forum has become a giant pain in the ass in recent years. As such, we made the decision not to renew it when it expired.
The forum is no more and will remain as a locked archive until it is eventually deleted by the host. We're looking in to try to save some of the content as an archive.
This is not the end of AFTN though. The site will continue and will be revamped and return in its full glory for the start of the 2016/17 season. Maybe even sooner. There will be a comment sections and possibly even a new, registered forum. Check our Twitter (@aftnwebsite) for all the latest info and we'll also post in on the EFFC memories Facebook page.
Until then, have a last browse here, thanks for all your support over the years, and 'Mon the Fife.
GoF
The following information will also be on a flyer handed out at tomorrow's game.
MEETING TODAY 18th OCT AT 5.00pm in FRIC BUILDING(OPPOSITE BAYVIEW)
Following the last Newsletter there will be a follow-up meeting for all fans and anyone interested in helping East Fife prosper as a successful community run club.
The meeting will be held at 5.00 pm in the FRIC (Energy Building) immediately after today’s game against Annan.
There are three main topics with an open Q & A session for any areas not covered.
• Status of the Buy East Fife campaign
• Status of the EFFC Director’s bid for full ownership
• Taking the next step in identifying the people and skills which will help East Fife flourish.
• Open Q & A session
PLEASE MAKE EVERY EFFORT TO ATTEND.
Braw. Hopefully we can learn more about clubs finances as clearly this is important information to know before any takeover can happen. Hopefully the rumours are a load o shite and club is in good stead like it was before new board came in and made a cunt of things.
Hello fellow east fife supporters, i am unable to attend the meeting tommorrow but would love info on whats happening. How far we are at etc. Eugiene if u or anyone can email main points etc that will be great. Fully behind takeover. Time fans have full say in the club we love. Cheers stuart
Stuart
If you send your email address to member@buyeastfife.org we'll be sending out an update after the meeting.
Thanks guys for organising this evening's discussion and it was good to learn about the goings on since the last meeting.
One real positive that came out of the discussion was the willingness for the east fife supporters to work with the east fife directors. Hopefully we can build on this going forward.
We learned more about the east fife directors bid. Having thought about it, I've concluded that it is not something I can support. I feel that the timing, the price, the funding, and the structure are not right. However, I think with some refinement and with inputs from the EFSS I really hope an improved joint bid can be forged. The proposal of an 8 person board sounded like one worth exploring further. Clearly a trust needs build before this can proceed, but given that all parties have a shared goal, I'm sure they can find a way to work with one another.
With unity there is strength. Strength to overcome the challenges that lie ahead - as the Irish sounding gentleman reminded us, controlling the club one challange, running the club is another. Together We'll have strength to get a better deal. After all, the combined finances of the people involved need to be partitioned between buying the control, paying the debt, and providing working capital to get the new east fife up and and running. If all the resources are sucked up buying the control, then the club still dies. We need to get a better deal because the one being persued is not viable. The seller's position is not as strong as he would have you believe.....
Let's hope for more discussions between the board and the EFSS so that a combined solution can be found.
Not yet...... But I have faith.
Remember, the directors get blamed for everything. Because of past criticisms (mine included) they've got a longer road to travel to get to the point of mutual trust. But I'm hopeful we'll get there.
I am losing hope in the survival of EFfc
Part of being a director is that assumed position of responsibility for when things don't go as planned.
What's done is done, though and can't be changed.
From a financial point of view the shares in question were bought at less than £4 per share. much of the shareholding was purchased when there was an offer of £3 for existing shareholders. The danskin shares were possibly less than this. So the expenditure of the majority shareholders is possibly only around 300K.
Take into account the assets of EFFC, the club is probably zero as it struggles to make a profit but it's landholding may be worth justifying it's high price. Otherwise it's worth shit.
All very well going over old ground and attributing blame here there and everywhere but what happened at the meeting showing the way forward?
Pie
KK is angry but his post is very accurate. He has called the situation correctly and his guess that the Danskin post came from an apologist is also spot on.
It has suited the directors to hide behind this scandal. Bruce Black, Derrick Brown & co sold the shares at any cost and landed us in an impossible situation that we still cannot get out of, over ten years later. Lie after lie was told to hide the shares deal and the facts only came out in media reports . Black and Brown remain loyal to Rankine. They have a lot to answer for.
Assuming all the share stuff gets resolved either with the Trust as the majority shareholder or through a consortium, what honestly does the future hold? Will we ever have the resources to become a championship club or would we doomed to being one of those well run community clubs forever plying our trade in the bottom league like a Montrose or an Elgin? That to me would be a pointless existence but could East Fife realistically do a Ross County, even a Queen of the South? Maybe aspiring to the giddy heights of Cowdenbeath or Alloa level should be our aim.
£143 million jackpot for Euromillions on Tuesday. Now if only one of us could win that....
How about we combine with Raith, cowden, maybe even the Pars and have a go as Fife United.
The frightening thing that came to light yesterday was the real possibility of liquidation. Some one has a lot to answer for, to watch that utter garbage that was served up week after week last season has taken this once great club to its knees. According to the last set of financial figures before the revolution we had a debt of 20000, as was said an end of season payment from the sfa would have taken us back to near even. Now as we learned yesterday the figure of debt being spoken about was 100000. So by my reckoning the cost of relegation to the basement league has cost us 100k. The interm board at least are prepared to put their money where their mouth is to try and save the club from going over the cliff. I plead to all people with a love for East Fife to buy a ticket for the Rangers game on Tuesday. Put all things aside no matter if your 2nd team is Celtic , and you don't want to take part in the circus. Your club needs you and this 20 quid could make a massive difference. It would take the pressure of and bring in much needed revenue to pay wages and buses for away games. I know it is a lot for one game but think on it as a pledge to your football club.
Fan67,
I share those concerns, and the situation looks very bleak indeed.
If the directors are putting their own cash in to part fund the bid then that would be quite remarkable. It wasn't stated how they were funding it so we can only make assumptions. The bid by the 4 directors is to take control of the club. The problem of the debt and getting the club back on a sound footing will still remain.
I'm still none the wiser as to why the directors are willing to rush the bid through and why they are willing to meet the crazy price the seller is looking for. The directors bid relys on a 50% funding from the supporters..... yet without any prior engagement or analysis if the supporters can indeed provide these funds, a bid has been submitted. Seems rushed to me. However the EFSS look to be sticking to their own timetable so that is some comfort at least.
The price and the non-returnable deposit, looks like a good deal for the seller, and a very bad deal for anyone putting their money into it. Perhaps the seller might even loan some of that deposit to get it off the ground - who knows? To me, this deal looks structured to profit the owners with monies from fear laiden fans perhaps not savvy in the ways of business. The squareknot fund and money pledged to EFSS must look very tasty to anyone out there that sees struggling football clubs as a prime target for their own profiteering.
I hope that the directors take time to ponder the sentiments of collaboration that were prevalent at Saturday's meeting. My own assessment of their bid is that while their heart is in the right place, their money will go to the owners pocket and do nothing for the betterment of East Fife. I hope they reconsider and instead work with the EFSS so that we can find a solution together.
The supporters do need to get behind the any new East fife. Although league games would be a better cause to rally round as with cup games the gate is split.
In my opinion the best way forward for the club would be to have fan ownership as the EFSS had outlined at the first meeting and if the existing board want to give the money they have to assist the EFSS in taking over the club that would be fine as long as the EFSS has the final say in all things relating to East fife. Anything other than fan ownership is a non starter.
The "new" East Fife, (if indeed there is one), will be funded (either in part of in whole) by the supporters.
Both the Directors bid and EFSS bid rely on this.
The supporters input at least £150K annually to the club's revenue.....and are active in raising what they can to get control of the club, pay off its debt and get working capital in place.
So to state that the supporters have no money is very wide of the mark. It is the supporters money that keeps this club alive...... it is the directors money that keeps them in the position of director.
The mindset of "I've bought my shares so it's my club" is very misguided. You may own some shares, but the club will always belong to its supporters. This is something I tried to explain to Derrick Brown many years ago. I hope the current directors do not share this mindset.
I share those reservations about a fan owned club......but that does not mean it can't be a success. The EFSS seem well aware of the difficulties faced when running a club....... hence the offer to the Directors to form a joint board.
I hope those directors reconsider that offer and work with the supporters so that a new east fife can be formed. The alternative..... which is very real......is that east fife go out of business.
How are you able to state there is a lack of a business plan with the directors bid?
To clarify, there may be a business plan but it has not been presented to those they seek investment from.
Are you sure? Those would be EFSS I would imagine? Have they said that?
Perhaps the director's business plan has been shared with the EFSS board....but to my knowledge it has not been shared with the supporters.
And if I understood the directors bid, they seek investment from the supporters to buy up the 1.25% chunks that make up the 50% of the holding company.
The get donators on board, the business plan will need to be opened up for scrutiny. Donators need to have confidence that their donation is going to be well used.
Yip.
A question was asked about the debt - something that any bussiness plan must be geared to tackle.
EFSS board deferred the question to the directors. Directors declined to answer the question.
Which directors were at the meeting and declined to answer the question about the debt? Also, the debt is not the business plan which I asked the question about above? Were any questions asked about the directors business plan?
What about the EFSS business plan, was that queried and answers given by them?
I understand that the EFSS is being put together.
Don't worry - it will be questioned I'm sure!!
Why are you not criticising the trust, but criticising the board who are private individuals? It's seems very strange that at an EFSS organised public meeting, you are asking private individuals i.e. the board of directors, finance information and are not happy at their answers, yet no complaint of the trusts position in regard to their financial information?? You are happy to give the trust all the time in the world, but want an immediate response from the directors?
I am sorry to say, but either you are a senior member of the trust e.g. on their committee, or someone with an underhand reason to get information for your own ends? You might be an honest fan with no financial interest in the club, but you sure are doing your utmost to discredit the board, but not the trust, for keeping financial information to themselves.
How is asking a question to the directors ....who were present in their capacity as directors not as private individuals.....either a criticism or trying to discredit them. It is simply a question.....and one that will be answered in time anyway. And you are correct, I was asking the question for my own ends.......to decide whether to donate to their bid or not.
Like any business it's product will be scruitanised by its customers.
By being director of a football club your actions will always be scrutinised by the supporters of that football club. And that scrutiny should be welcomed not feared.
It looks to me that the directors should be appealing to supporters for help....not just financial. Blind faith in the directors will not be forthcoming. And understandably so given that the directors are part responsible for the situation we are in. (Do you agree? )
The directors need to get onside with the supporters, and IMO the EFSS is the best vehicle for doing this.
Derrick brown made the mistake of treating the customers with contempt - I hope the present directors don't make the same mistake.