Board Meeting - 2nd March 2017
A Board meeting was held on 2nd March. Meetings are presently being held on a fortnightly basis to facilitate strategy development and financial planning.
The first hour was taken up with a presentation by and discussions with the Manager. This included training, away arrangements, the new commitment of the team and injury status. His overall message was the need for unity in the critical next few weeks.
Academy. A report by Shaun Johnson, Alex Tunbridge, Byron Anthony and Dan Benham on the future, development, funding and status improvement was considered and adopted. The parties will now prepare an implementation plan which will include consultation.
Rodney Parade. The Board was updated on matters including pitch, covers, relationships and costs. The recent press reports of a potential takeover were noted but we await any real action and an understanding of any new arrangements.
A further purchase of £30,000 NCAFC shares by the Trust offered as part funding for the January transfer window signings was approved. The money has accrued from contributions to the Rewards & Benefits Scheme.
County Lottery. Need to review the management arrangements in the light of a pending “retirement”.
Finance. Projections to end June (financial year end) are causing concern. Actions to improve cash flow including early bird discounted season tickets agreed. Financial planning is happening on two levels until our future status is clearer.
Involvement of private investors. It has been recognised for some time that with the level of support and fixed operational costs, this is an unavoidable requirement for stability and development. The Chairman reported on the authorised discussions he had held with several enquiring potential investors and Mark Crook was able to add to the names. It was felt that the present standard community ownership model needs to evolve to a Newport model if there is to be any involvement of private money. This will be further discussed at the next meeting with a view to consultation with Trust members if any revision of the model is considered necessary.