Season Ticket Holder Ashley Brown feels that Thursday's Special General Meeting of Hereford FC 'matters'.
Shareholders General Meeting on February 23. An EGM really.
Politics.
Nah. Not bothered? But you do actually want a senior football club in
Hereford? Maybe time to think big picture. This meeting matters.
If
our club was prosperous, making money, chasing promotion etc, few would
care. Hereford FC isn’t doing any of those things. Just treading water
and draining away our cash reserves while doing so. For 3 years! Talking
Bull talked of “being one of the worst financial performances in the
League.” Jon Hale promised a profit for 22/23, though it’s going to be a
modest one after paying off yet another manager and increasing the
playing budget yet again. That’s only a profit because of Pompey. By
their own rules, Hereford cannot go into debt. They started this season
with just £37,000 in the reserves. They did have £600,000 a few years
back. More financial laxity and who knows..
The
meeting has proposals for discussion and voting. The first 3 requires
holders of 75% of all shares to vote in favour. Here’s the rub. HUST
hold 50% and thus need benefactors to vote in favour to reach the
threshold. Happy to be proven wrong but it’s the benefactors (43% of the
shares between them) who elect the other 4 directors and are likely to
vote against the motion so they keep the status quo. And will want to
keep that The decision private.
Somebody needs to bust protocol and tell the world who did what and who wasn’t there.
The
Supporters Trust want an adapted version of how Exeter operates. Key
features are a Chair who can’t vote (common in many boardrooms) and an
even number of Trust and Non-trust board members. Key decisions are
pushed down to sub-committees who report to both club Board and Trust
Board. All shareholders can be represented and can pose awkward
questions. Or just say no. Boardroom parity is key. Won't solve
Herefords woes overnight but it's a step forward.
When
you have 3 directors and there are 4 other members of the Board, see
the potential for being outvoted or marginalised? The Hereford FC board
have a Chair, Vice Chair, Financial Director and Commercial Director.
Maybe others. Not one of these jobs is filled by a Trust-elected
director, despite being eminently qualified for these roles. Too easy to
imagine a non-Trust director picking a role, being immediately backed
by the 3 others and that’s job sorted.
Don’t
matter whether you like HUST or not, they are the only real hope for
change. Join them, interrogate their leaders, share your concerns on
social media. Do something to help!
Ashley Brown