orangeman wrote:
Kick'em whilst they're down
If the Dons do go down at the weekend (as is highly likely), I'd expect any inquest in the off season to feature a report on the Pro's & Con's of their new tenants. The break clause works both ways (we are led to believe), so it'll be interesting to see what they make of our first few months and the associated revenues that were apparently splitting with them in terms of bars etc.....I suspect they are as underwhelmed with the income as the London Broncos (Hughes/Loubser) are.
More than highly likely, relegation has been a very drawn out affair. The ability of the team to lose from winning positions is sensational. Defence splitting pass from the Centre Forward who received the ball on the halfway line / touchline on Good Friday. Problem was he was our player and he laid it on the plate for the striker to equalise. Even better on Saturday, leading in the 89th minute our goalkeeper was fouled. He took the free kick. To himself! His THIRD touch he punted it downfield. Free Kick in the penalty area and Fleetwood equalise. Comical.
Whether AFC Wimbledon want to end the agreement with the break clause I don't know. I'm sure the income is much less than expected, but there will be profit so is there any gain in terminating. The only alternatives would be a football team needing to relocate, and I don't know of any. The pitch wouldn't cope with Rugby Union, certainly not until the maintenance strategy is proven. Following the departure of the CEO, Head Coach and DTB Vice Chairman, the Head Groundsman has now left! In fairness I understand to move to Fulham, so a career promotion.
The non match day income is way below what it needs to be. So I don't think the club want to be seen removing an income stream.
What has changed in the last week, is that there is no debt secured against the £30 Million stadium. A 4.5M Bridging Loan had to be repaid in April which it has. At the start of 2022 there was no money, all that could be done was refinance under another secured Loan. Most (3.7M) has been covered by the latest Plough Lane Bond (unsecured). The remainder by a further equity investment and a short term unsecured loan from the Cherry Red owner simply to enable the April date to be hit without any risk by having any secured loan on the stadium. A cashflow loan really.
In the same period (2022) they haven't won a single football match! Even the match tomorrow has less than 40 seats available (all singles) and they are resells (so double income) from Season Ticket and/or Debenture holders who can't attend. Attendance will be down as Accrington will only bring a couple of hundred in the away end that holds 1,400+. And there will be lots of empty seats from fans who won't turn up.
The crowds in League 2 next year will likely be top 5, and other match day income probably top two. The biggest single risk is on the field as relegation to the National League would have big financial consequences.
So I think it unlikely AFC Wimbledon will activate the break clause (which I suspect is either after one or two seasons) as the Broncos are one of their income streams. Whilst the bottom line is its about money, I don't believe the club want to fleece the Broncos and would like to progress with them. The club won the English Football League Community Club of the Year award last week so want to be seen in a good light. Problem is so do the on field team judging by the fact that they last won on 7th December 2021!
Now need to figure out how to get there from Egham, but should be simple enough
