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Trust Board Meeting, 31st March 2008 
Venue: Novar Bar, Kirkcaldy
Present: Alan Russell (AR), Blair White (BW), James Proctor (JP), Tam Cunningham (TC)
Apologies: Graeme Condie (GC), George Howie (GH), John Mainland (JM), Tom Philips (TP)
MyFootballClub - Reality Bites
The twohundredpercent blog reported on happenings at Ebbsfleet United five weeks after the takeover by MyFC, in particular how the principle of 29,000 members picking the team is working out in practice.
Twohundredpercent: Ghosts In The Machine
Invest in an ISA and support the Raith Trust!
Isn’t it lovely when nice things happen?
L&G is offering cashback for you and £110 to The Raith Trust when you invest in a new ISA or top-up your ISA before the end of the tax year.
Cashback will be available for all index-tracking ISAs:
- SPREAD THE RISK - L&G index-tracking ISAs spread the risk by tracking markets and sectors.
- YOU’RE IN CONTROL - Invest in the UK, further afield or into a specific market sector, it’s up to you.
- SECURITY - L&G has been offering this type of investment for over 10 years, with over £3.9 billion under management (as of February 2006).
- LOW COST INVESTMENT – there are no initial charges or withdrawal fees.
YOUR CASHBACK - Get your 2008 annual management charge refunded when you invest at least £4,000 in a Legal & General index-tracking trust ISA or top-up at least £500 in an existing investment.
Charges will be refunded from the day you invest until December 31st 2008. The refund will be paid by BACS in February 2009.
Hearts’ Spiralling Debt
I was browsing a website called euFootball.biz this morning and found a couple of articles about Hearts.
The first one is from February of last year and announces that the club would be asking shareholders to approve an increase in the board’s borrowing power, doubling the amount from £20 million to £40 million. Apparently, the club would not be increasing its debt by GBP 20 million but wanted to be able to pay for ground redevelopment, among other things, over the coming years.
The next one is from earlier this week, in advance of the publication of the club’s accounts for the year ending 31st July 2007 (five months after the motion to increase their borrowing power). It is anticipated that when the accounts are published they would include a record level of debt - £37 million.
In the meantime, they’ve sold Craig Gordon, but despite this I am extremely concerned for their future. With their debt accumulating at such a rate the’ll need to bring in a similar transfer fee every season just to stay where they are.
Trust Board Meeting, 25th February 2008
Venue: Novar Bar, Kirkcaldy
Present: Alan Russell (AR), Blair White (BW), Graeme Condie (GC), John Mainland (JM), James Proctor (JP), Tam Cunningham (TC) and Tom Philips (TP)
Apologies: None received
Brown praises Raith training move
Prime Minister Gordon Brown has praised the role of his favourite football club in helping youngsters acquire skills for employment.
BBC NEWS | Scotland | Brown praises Raith training move
Trust Board Meeting, 28th January 2008
Venue: Novar Bar, Kirkcaldy
Present: Alan Russell (AR), James Proctor (JP) and John Mainland
Apologies: Blair White (BW), Graeme Condie (GC), George Howie (GW), Tam Cunningham (TC) and Tom Philips (TP)
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Kirkcaldy YM Juniors to be reformed?
A public meeting is being held this Thursday, 7th February, at 7pm in the Town House, Kirkcaldy to discuss the possible reformation of Kirkcaldy’s other football cllub. As the following post on Fantalk says, if you have an interest in keeping junior football alive in the town, try and get along to see what’s happening.
Fan Talk :: View topic - Rise from the Ashes
Fans make Liverpool takeover move
The latest in the ongoing saga about Liverpool’s ownership. To me the target seems like a difficult one to reach - the article talks about 100,000 fans raising £500m, which would be an average investment of £5,000 each - but I think the “Barcelona model” would be an interesting one to see at the top end of the English premiership. It certainly seems a lot more sustainable than chasing a succession of foreign investors in the hope that it will propel you back to the glory days of 25 years ago…
BBC NEWS | Business | Fans make Liverpool takeover move
Raith Rovers - Who Owns What?
In the run-up to Christmas, we held the first of a series of informal meetings for our members to explore specific topics in detail with us. On this occasion the format was extremely informal - an open invitation to join us for a drink and a chat in the Novar Bar before a match - and the topic being explored was the structure of the football club.
Our intent was to share what we as a Trust Board know about the structure and interaction of the various companies that are part of and that own Raith Rovers, to de-bunk some of the myths that might exist about who owns what, and to bring the concerns of our members into our own understanding of the issues.
For those who couldn’t attend, here is a summary of the information we shared.
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