| David Hall |
Frankly I hope it wouldn't get to that stage otherwise I think the Board would have failed in its job! I do think we have managed our financial affairs exceptionally well to date and I have faith in the current management to continue doing the same.
I think the role of the DT Board should be to set the strategy and give clear financial parameters around how the club should operate both in the short term and the longer term. I suspect a lot of those controls are already in place though some may be more informal relying on the good judgement of those in charge.
But if it does emerge that we have made a commitment to something we can't afford we would need to work out a strategy pretty quickly to mitigate the impact or try to extract ourselves from the arrangement. The DT Board may need to take action with the club management as well if it turns out that the actions have been reckless and without due reference to the DT Board.
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| Mark Davis |
The Chief Executive presents the club's budget to the DT Board for discussion while it is being prepared and then again, for final approval. I'd see it as part of my fiduciary role as a DTB member to satisfy myself it's sound - not by poring over every detail but by probing some of the key assumptions underpinning it. Clearly, if it involved commitments that I thought the club couldn't afford, then I'd have to object.
Once the budget is approved, the club should report periodically to the DTB about performance relative to budget. I don't know how regularly this takes place but quarterly would feel about right. If the club enters into commitments that take it off course for its budget, then the CEO would need to tell the DTB about this (there are probably delegated limits for a certain level of tolerance but I don't know what those are). So, again, the DTB would have an opportunity to satisfy themselves with the commitments being made (requesting an updated budget if that were necessary) and object to any unaffordable ventures.
In any walk of business, the 'base case' for any venture can usually look pretty rosy (or it wouldn't get past the drawing board). It's the downside risks that matter. So, for major projects, I'd want to see some contingencies built in and downside sensitivities of the key variables. Again, if it exposes us to an unacceptable level of risk, the project shouldn't proceed.
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| Nicole Hammond |
That's a good question! That is something that makes me very nervous since so many clubs have brought themselves to the brink of ruin this way. I would shout and scream and generally make my views known both to the board and to fans in general, I suppose. Hopefully this won't be necessary. |
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| Kate Terriere |
I would raise my concerns at Board meetings and encourage debate. As I understand it, all key financial decisions require Board approval so I would make sure these were properly evidenced and assumptions were challenged before making a final decision. The directors are also accountable to the Board so the Board would be able to scrutinise their work and ensure they were operating appropriately. |
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| Kris Stewart |
I would argue strongly within the board against any action I believed to be too risky for us, financially. If I lost that argument, I would have to consider my position and think about taking the issue directly to members. |
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| Lee Willett |
I will speak my mind at Board meetings, and will do everything I can within my powers as a trust Board member to ensure that the right decisions are taken. |
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| Stephen Cooles |
I, like I hope any Board member, would challenge the Club were they to do this. If we cannot afford to do something, we should not do it. |
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| Tom Adam |
The important thing here is protective action in advance. Once you get to the stage where the Club is committing itself it is probably too late. Some apparent risks just can’t be taken as far as I can see. For example, the Trust and PLC both have paragraphs in their Constitutions that prevent the sale of the Club or the Stadium.
All budgets and major projects must be approved by the Trust Board so if the Club was over committing itself that would be a breach of its authority and Management Committee would need to explain their actions. If someday we appoint someone to Management Committee who is dishonest then that is the time when we will be at maximum risk of not finding out until too late. That is why one of the most important roles of a Board is to select and appoint the Management Committee.
Any action I would take will depend on the nature and size of the overstepping. The ultimate sanction for “a runaway Board” would be dismissal but good prevention and monitoring should mean we never get into that position
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| Simon Bath |
To take such ventures under immediate review and if necessary, dispose of such. |
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| David Growns |
Well firstly, this is extremely unlikely as the constitution requires the membership to approve significant expenditure. However, in the unlikely event, I would vote against it and if necessary resign. |
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| Damian Woodward |
I will say no! And if I don’t believe that the message is not getting through then I will speak out and make sure everyone knows what is going on. To be honest though, knowing Erik, it will be more about making sure he’s not hiding little pockets of money away which could be invested elsewhere.
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Christopher Gibbs |
Vote against |
