As we fast approach Christmas and five months of ownership of the club for me, I felt it was time to give another update.
When I first came into the club, I said I would spend some time reviewing things before making changes. I set us the target to have everything from the previous regime tidied up and sorted out by 31st December. Both on the pitch and off the pitch we aren’t yet where I want the club to be, but to anyone that knows me they won’t be surprised by that. I am hugely competitive and driven to succeed, I also want everything yesterday.
When I was approached by the previous chairman to buy the club, I jumped at the chance to be a part of something special with my local team. I am so glad that I not only got this opportunity but that I eventually took it. I fear where the club would now be given the state it was in when I finally took over.
During the 3 months of negotiations, I pulled out of the deal twice because the previous owners refused to share absolutely any due diligence with me. My own solicitor told me I was crazy to continue with the deal. Eventually after long conversations with Dan Watkins, we decided although it was a gamble to continue as it stood there was very little option if we wanted to save the club as the previous owner had refused to put any more money into it. We also decided it was a calculated gamble on what the worst-case scenario would be. So I went ahead with deal, admittedly with my fingers crossed!
I had agreed to subsidise the playing budget with Dan to cover last year’s amount and with an additional increase of over 15%. My plan was that there would be further budget available should it be needed depending on the outcome of my due diligence once I finally had access to both the financial and bank accounts.
When you buy a club there is a great deal of compliance that must take place, one of the things that needs to happen is that a playing budget is submitted to the National League. When I submitted ours, I was told it ranked us a lower mid table budget. This didn’t surprise me and I knew that therefore the average manager in this league would get us to a lower mid table position. I was more than comfortable with that knowing that Robbie and his team on the previous two seasons where one of the best, if not the best management teams in the league on a point per pound basis.
With this in mind I went about focusing nearly all of my attention off the pitch trying to sort out the finances and infrastructure of the club to help make us Football League ready. This has been a huge undertaking and one we still haven’t quite completed yet, however the club is now in the best position it has been in financially since moving back to Chelmsford in 2006. I, along with Dan have had to invest well over double what we had budgeted for this season to clear the majority of the outstanding debts. We still have a Sport England loan and one bounce back loan left to clear and then the club will be debt free for the first time in as long as anyone can remember.
We have consolidated the group structure of 5 companies and the foundation that were being used to run the club into two companies and the foundation, so things are way more efficient now. We have a full working Board with two directors and 4 independent non-executive directors to hold the club accountable and help drive it in the right direction. We also have a new organisation structure within the club with some of the previous employees now being heavily supported with some EMJ employees which is currently being funded by Gorely Group at no cost to the club.
In short, I believe we now have a club that is ready to push on with an exciting plan to grow. It has come at considerable cost to Dan and me but has secured the long-term future of the club that was at a very real risk of disappearing.
I believe on the pitch we are performing at the level the current budget suggests we should be. I know this is currently a little hard to take following on from two years of play off finishes but the alternative at one point was far worse. I am still working towards the goal of promotion this season and am sure the second half of the season will see results improve dramatically. However, if we don’t get promoted this season we will be in a far stronger position for the following year. Our time will come.
Robbie and I are working on plans to change this for not only this season but also looking at how we ensure we have a flying start and successful campaign next year whatever division that happens to be in. We are constantly looking for new additions for the team. We are looking for players that will improve the squad not only this year but with a view they will be good enough for the league above as well. Hopefully, we’ll see some movement in this soon.
After years of mismanagement, we feel the club is finally on a secure footing both on and off the pitch to now really focus on pushing forward.
There is no one I know involved with the club that doesn’t want to see us performing better both on and off the pitch and we will continue to do all we can to make sure that happens. But we now feel we have reset and have the foundations in place so we can now focus purely on building the club.
I’d like to take this opportunity to thank everyone that has played a part in turning the club around so far, directors, employees, volunteers and fans alike!
Here’s looking to a very exciting future.
Happy Christmas and up the Clarets!
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