All the key points and what was said at Chesterfield FC's AGM

Chesterfield FC Community Trust are “close” to completing a takeover and on Monday they outlined some of their plans for the club.

Speaking at Monday night’s AGM, Mr Carson, Chesterfield FC’s company secretary, said they could have sold it to another interested party but it would have been “horrendous” for the club.

“As one of the people that takes the brunt and has to hold their hand up and apologise for a lot of these things that have happened, the one thing I did want to do going forward is to ensure that the club is left into the hands of the right people,” he said.

“It was either going to the fans’ consortium or the trust and that is where we have been quite patient to hopefully get one of those over the line.

“We have talked to some other people out there and there is one in particular who we could have sold to and it would not have been good for this football club.

“It would have been horrendous for this football club and I personally did not want to be any part of that.

“It is one thing leaving it in the state it is in now but to actually leave it in the wrong hands just did not sit right and that is why Dave Allen has been patient and it has cost him a lot of money by doing so.

“I would just like to place on record that I do hope we have been able to steer the club into safe hands going forward.”

Earlier in the AGM the accounts for the period of June 30 2019 were outlined:

- Company’s turnover for the year was £3.952m

- Reduction from the previous year of £5.879m

- As a result the company has made a loss of £1.845m for the year

- Compared to a loss of £1.065m the previous year

- Shortly after the year ending Mr Allen effectively wrote off over £2m of his debt

What is the forecast for the current financial year?

Latest figures to the end of January which is seven months are:

- Conferencing and banqueting sales are down by £104,700

- Commercial is down by £62,000

- Football revenue is down by £490,000

- Cost of sales overall are down also by £220,000

- Overheads are down by £50,000

- Football medical costs are down by £27,000

- Stewards costs are down by £18,000

Mr Carson said: “The cash flow ultimately has been very poor and the debt to Dave Allen has increased this season so far for seven months by £1m so this is averaging out at £125,000 a month in terms of shortfall so it is not a great outlook. In terms of the projected final figures we don’t have any of those at the moment.”

What did Mr Carson say about the takeover?

- Mr Allen will be writing off a “very significant amount” of his debt, which is £16m including shares.

- 84 per cent of the company’s shares will be sold to the community trust for £1. They are held by Mr Allen, Mr Carson, Susan Roberts and Mike Warner

- Mr Allen has set a preferred completion date of March 20 and this has been agreed in principle by the trust

- The trust has completed their due diligence

- The National League is currently viewing the trust’s business plan

- Once the takeover is complete new directors will then be appointed to the CFC 2001 Ltd board and a company secretary elected

- The existing two directors, John Croot and Mr Warner, will then resign.

- A company secretary will then be elected and then Mr Carson will resign

- Both the two current associate directors will resign

What did chairman Mr Warner say?

“Thank you for all your friendship over the 25 years I have been at the club.

“From a personal point of view I am absolutely ashamed of the last four years.

“I do not sleep well at night.

“But I suppose at the end of the day you can say everybody who was owed has been paid.

“There are no players who have gone without their wages here.

“Although we have not been very good with our choice of managers they have all had big budgets.”

What did director John Croot say?

“I first joined the board here as a 23-year-old in 1987.

“I am a life-long fan and I started as a programme seller but when I got the club thrown at me in 2001 before CFSS we got a group of us together and we were hours from closing down. There was no Dave Allen and his money then.

“Last few years we all know things have not gone right but we are still not down to two hours away from being closed down like we were in 2001.

“Twenty years on it feels a bit strange that we are in this position.

“The last three or four years it has been difficult to watch it unfold but at least we have kept it going and whilst the finances are clearly difficult at least the money has been coming in and not going out in illegal ways that it was in the era when we took it over in 2001.”