Radical restructuring proposed (02.12.05)

Consortium lays outs financial package

AFTER a week of rumours and conjecture, a radical plan to completely overhaul the club and its finances was put to the Maidenhead United members yesterday (Thursday).
At time of going to press the decision from the extraordinary general meeting was not known, but if the restructuring was agreed to, then the most common theory doing the rounds is that a consortium of local business people will take charge at York Road.
The favourite to be one of those involved is Peter Griffin, who is co-owner of club sponsors Pharmalink.
Griffin could not confirm or deny any interest, but told the Advertiser: “All I can say is that an exciting restructuring package will be proposed to members and that it will be up to them to decide.”
However, a source close to the club described the deal as: “An exciting and radical proposal which will build on the success the club has enjoyed in recent years.”
The club, whose overall debts are approximately £200,000 and which is losing around £1,500 per week, has been rife with numerous rumours on a possible takeover after the Advertiser broke the story last week.
However, although the club finds itself financially embarrassed and with a potential ground move on the back-burner, the members will be reminded of what they might have to relinquish in order to secure the future of the club.
It is expected that the restructuring proposal will concentrate on developing the club’s business and commercial potential.
The Magpies have enjoyed a successful 10-year period on the pitch, but promotion and increased expectation levels have brought with them higher costs.
In recent times the players’ weekly wage bill has been slashed to £1,800 from a high of £3,000 two years ago, to help reduce the shortfall.
But the 135-year-old club is facing some difficult decisions in the short term if they are to meet their financial obligations.
While none of the club officers could comment on Thursday’s meeting, the outcome will have an effect on the playing budget and the manager’s plans. However, Magpies boss Carl Taylor said that, from what he had been told, he believed that potentially the future could be bright for the club.
He said: “I had a meeting on Friday and I am confident that the club would be in good hands.
“My instincts tell me that I have nothing to worry about.
“I haven’t said anything to the players because there is nothing for them to worry about.
“But I suppose, being honest, we’ll get to Christmas and see how any changes in the club have affected us.”
He added: “I feel we have a strong squad, and it will get stronger in the next 12 months. I hope nothing off the pitch threatens that.
“I suppose at some stage I will review the situation.”
It is thought that Taylor has been given assurances concerning his own position if any changes do occur in the way the club is run.

On the pitch there has also been plenty for Taylor to talk about, especially after his side performed well but were still dumped out of the FA Trophy by Bishop’s Stortford on Tuesday after a replay. He said: “The players are doing the rights things, and doing what is asked of them. They really can’t do more than that.
“But we are just not finishing off matches. It was my lowest point at the club on Tuesday because we were down to 10 men (after Nana Badu was dismissed) and turned in a performance worthy of a win, but we couldn’t do it.
“Ironically, I thought we were much the better side until we scored. This seemed to spur Stortford on and two pieces of quality football finished us off.
“But we had our chances.”
He added: “We don’t lack confidence or ability, just some experience.
“I need one more experienced player, and I am looking around and speaking to people.
“In both matches we got ahead and in winable positions.”
Tomorrow, (Saturday) the Magpies entertain Basingstoke in a match which Taylor believes both teams will be targeting as a possible victory.
Skipper Matt Glynn is not available tomorrow as he will be serving a one match ban.