Enclosed below is the Trust report from Saturdays Trust Meeting with supporters, this was an open meeting for all supporters, subscribed Trust members will also received a copy via email
We will be publishing later this week the various ways donations can be made to the two funds mentioned below.
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Supporters Forum hosted by the Dale Trust 06/01/2024. Dale Bar Rochdale AFC.
Objective
To investigate fans’ opinions and ideas regarding a Squad Builder Initiative (primarily) and to canvass and discuss other potential avenues of income for the Club by the fanbase in general.
The meeting was held in the Dale Bar at Rochdale AFC and hosted by the Supporters Trust with Interim Trust Chair, George Brigham (GB) along with secretary Murray Knight (MK) and five other board members in attendance.
There were thirty-eight fans who attended the meeting
Reasons behind the meeting
The Club’s perilous financial position, though stabilised by directors’ loans for the present time, subject to an investor being approved, meant that cash income needed to be generated, and following a Directors’ meeting with the Trust in November (reported HERE) the Trust and Club did discuss ideas that each may be able to develop either solely or jointly, both aims being the same, to increase cash into the Club.
Moving On: From that meeting, the Trust at its own meeting on 7th December agreed in principle to develop a source of income which could be ring fenced for Squad Development, (it colloquially became) known as the Squad Builder.
The Trust also agreed that they would donate a starter figure of £2000, which included, in part, donations made for the purchase of shares. With the Christmas season in progress it was not possible before today’s date to organise a supporters (not Trust exclusive) meeting but given the situation we were now in following the signing of Ryan East, we posted on 22nd Dec 23, clarification on our intentions (HERE)
The Trust fully appreciated that this created a chicken before the egg scenario but by having today’s open meeting where we could place before supporters in general, what we actually had thought and how we had arrived at the present scenario, we could encourage opinion and investigate if needed potential other revenue sources.
George Brigham (GB) opened the meeting at 12 noon and welcomed those who had attended and explained the above reasons to why we needed the meeting.
Critically he wanted to ensure full transparency and though there had been a “feeling” amongst some that we may be rushing through the idea of a Squad Builder (SB) that this was not the fact and this meeting was to sound ideas and seek an approval for the Trust to continue to carry on and lead in raising funds for the Club either under the heading Squad Builder or something else that Fans thought appropriate.
GB also assured the supporters that any funds raised by any initiatives would stay in Trust accounts and be dispensed only for the purpose that they had been raised, should this be a Squad Builder, then the Trust would want assurances on the exact nature of expenditure before releasing any monies.
He explained that the Trust had posted on its web last week today’s slide presentation in full, emailed its members and had posted extensively on social media including links to this. For those wishing to refresh then the full presentation can be found HERE
During the presentation and following questions and opinions from the floor it was apparent that the Club’s initial survival into next season was a worry for many, with a concern that any fundraising should be for a Plan B, a survival strategy to preserve the Club in some form, whilst others though not against a Squad Builder fund in principle thought that is should be for a term ending when the season closes. These discussions opened several other potential initiatives which income could be generated, mainly (these were) :
- Supporters to purchase personally some of the 50K of Club shares were made available following the AGM (see HERE) at the end of November,
- Resubmit the Community Ownership Fund Bid (see HERE) which was (turned down by Government), initially unsuccessful, and being re-submitted by the end of January, which entails the Trust purchasing the pitch, thus protecting the stadium from any future plans for use other than a sporting venue, and securing the future of the many functions by the Community Trust directly benefiting the community. If we raised £200,000 then the government would provide an additional £800,000
- Personal donations either one off or monthly directly to the Club, (OR) via the Trust, to the share purchase fund that the Trust had in place till late last year, where shares were purchased by the Trust with the income going directly into the Club.
- Adopt a (fundraiser) Fighting Fund to support (a) the Plan B highlighted earlier, which several fans thought would be more constructive (as) in preserving the club and should come first before we support the squad.
Of the above, the COF is unknown as we have previously been unsuccessful. This resubmission will have the benefit of “fresh eyes”, but meeting the Government criteria for funding is not guaranteed.
The option to buy shares either via the Trust or personally does raise monies directly for the Club. It could, if preferred, offer yet another option of support, buy shares and subscribe to or make a one-off donation to any initiative decided.
The adoption of a fundraiser from a Plan B has merit, but asked by one fan would this be money too late when the Club needs it now.
GB in summary refereed to the final slide which gave the four main options and explained each section which the meeting had basically discussed, see that HERE on your own browser or below
GB using the above information explained that using this process the Trust felt that there would be an appetite for a Squad Builder which puts money into the Club quicker (under Trust Audit) though following the meeting accepted that it could be possible to do both, Squad Builder Fund and a Plan B (Survival) Fighting Fund running in tandem, if it was the will of the meeting (that is).
However, the risks of each in terms of speed of meeting the initial need for cash input and also being realistic in achieving goals more efficiently and quicker should be understood.
Following further comments (we will add some of these to the end of the document) and discussions by the supporters a consensus was developed that we should do both, initially a Squad Builder till the end of the season (To be reviewed and possibly be renewed then) and a Plan B Fighting (fund) Fund.
Proposal
Following a request from GB for a proposer from the fans that we run two fund builders in tandem, they being
- Squad Builder until end of season with a review to continue then
- Fighting Fund (An emergency Fund.)
The idea was proposed and by a show of hands voted on unanimously
Fund Targets: GB then led the meeting on a discussion on fund targets, do we set initial targets for each and show progress or any other alternative. The floor agreed by show of hands not to set a target but to show progress as in milestones achieved to date.
Fans Forum Question: Following these proposals, the Trust was asked if the scheduled fans forum due to be held on Thursday 25th January was still going ahead as the Club could outline any additional ideas that they have, Director Richard Knight had volunteered to make a presentation on this at this fan meeting but the Trust board felt it wanted to give supporters a chance to first appraise the schemes. The Trust would check on this and report back ASAP. Fans felt that this would be a good opportunity to sound out the Club on its present situation which could give a lead on to what fund takes priority.
Income to date
Following the floating of the idea to Trust members in December we have received substantial donations already, these to date have exceeded £4 thousand, this was donated for the Squad Builder Fund and will form the basis of that fund. There was no disapproval of this from the floor.
Moving Forward; The Trust Board at its next scheduled meeting on the 8th of January will discuss the meeting as a whole and instigate the proposal voted on today. GB explained there is much to do setting up, accounting, publicity, recording and informing etc that it will take a couple of weeks to get going properly but the Trust will post donation methods on its various sites following the meeting on the 8th Jan
Contact Details info@daletrust.co.uk.
If You want to make a Card donation today, then you can do so using the links below, all other payment options will be published on Friday 11th Jan 2024
Squad Builder. Click HERE
Fighting Fund Click HERE