TRUST MONTHLY NEWS - FEBRUARY
This is the ninth communications and the second of our monthly newsletters.
There has been a significant amount of activity within the club and we have covered many of the topics below. Whilst we have placed transparency at our heart and will continue to do so we need members to appreciate that not everything can be communicated as we may well be prevented for doing so through contractual terms or legislation.
We are sure that all members would not want us to breach any contract or legislation that may well lead to consequences that damage the club. Thank you for your understanding.
Football League Submission - Now been accepted
We are happy to confirm that following some dialogue and clarifications our submission to the Football League has now been fully accepted. We are now formally recognised as owners of our football club! The formal ratification from the Football League has allowed us to commence the two stage election process.
Football League - Previous Manager Approach
Having considered our position, we have formally written to the Football League objecting to the approach of our previous manager. We await their response.
Next Seasons Kit - You decide
We have been engaging with our contracted partner Macron in relation to next seasons kit. We intend to ask the members what kit they would like - Home and Away. We will share two designs for home and away and then have a vote. The members will then decide.
Elections
The long awaited elections are now ready to commence. As relayed in our share offer we will be adopting an incremental approach - This will take the form of two stages with 4 positions being offered initially. The remainder will follow after a review. This approach will support the need for stability in the club. All the information that is needed can be found on the Trust website – www.ncafctrust.org
CEO Resignation
As you are probably aware Jason Turner has resigned from his position and we wish him well in the future. Jason has created a firm foundation in the club and we are in a much better place as a result. We will continue to build upon this.
Given the departure we will be taking the time to review the structure and will communicate the findings shortly.
Share certificates
We are now starting to commence the process for issuing these. The intention is to have certificates available at the club week commencing 16th February for collection. Simon is still trying to identify everyone who has bought shares and whilst significant progress has been made there is still a proportion of members who have missing information. If you have not received a confirmation email from Simon can you please make contact by emailing treasurer@ncafctrust.org We will issue an email to those who are able to collect their certificates.
The Dome - Blackburn game
The above was an idea from Lewis Richards - our club secretary. The club was determined the match would go ahead and to ensure that happened Lewis made contact with Sports & Stadia Services, a company that has a contract with the FA. Following consultation with RP ground staff it was agreed we would hire the dome. Lewis along with Directors and RP staff were on hand on the Sunday to make sure it went up to give the protection.
The dome did its job and it was 10k well spent given the TV money and match revenue.
Conor Washington
We can confirm we have received a significant windfall from the sale of Conor Washington from Peterborough to QPR. As expected the agreement has a number of clauses and complexities based on a range of triggers. Notwithstanding this we have received an initial cash payment in region of £400k, which could almost double over the coming years if the various other clauses are applied. We fully recognise the contribution of the previous Board in achieving such an excellent deal for the football club.
Aaron Collins
Aaron’s move to Wolves during the month once again demonstrates the strength and success of our Academy in the development of our future players. Whilst Aaron will be a big loss to the team we are confident that he will develop and thrive at Wolves and we wish him all the best with his career. Special thanks go to Mike Flynn for believing in him and the Smile Council for their continued support to the Academy. Whilst not able to reveal the transfer fee (contractual) we can confirm it was for a similar sum to those bids received in the previous transfer window, with a range of trigger clauses also included.
Benefits and Rewards
Firstly a big thank you to those who have supported the scheme so far. The Benefits and Rewards package will be critical to us becoming a sustainable club in the Football League with an ambition to develop and progress. However we do recognise the tremendous effort of our fans to raise over £240k in under a month towards the end of last year. As a result, and due to our progression in the FA Cup, we have not been dependent on this income stream this season. We will, however, look to include this income stream into next year’s, and future budgets, and will be reviewing and re-launching this scheme over the next few months.
Plans for the allocation of funds
The injection of funds from the Conor Washington transfer is excellent news, especially given that apart from regular, relatively low value, long term creditor agreements all money will be available to be re-invested in the football club. Initial considerations are to replicate the approach developed by Exeter where the income is split three ways into the playing budget (this season and next), working capital and football development (Academy, infrastructure etc.).
Academy
The academy at all levels is a critical part of our club and the need to continue to invest is paramount. We have recently asked the Head of the Academy to explore the possibility of moving us from a category 4 academy to category 3. As this develops we will update members.
DSA - Delta Force
The DSA has agreed a deal with Delta Force who provide paintballing days where members can enjoy a discount. For more information contact fund@newport-county-dsa.co.uk
An evening with Robbie Fowler
We are delighted to announce that Robbie Fowler in conjunction with the club will be hosting a dinner on Thursday 10th March. Details to be released soon. All proceeds raised will be in support of the academy.
We are grateful for the continued support.
TRUST BOARD
