Plough Lane Bond (Part II)

I note from the circumstance on the Plough Lane Bond. Sometimes before the initial deadline of 14 February 2020, the figure was getting closer to the target figure of £5 million. When the Don Trust decided to extend the deadline from midnight of 14 to 16 February 2020, I noticed that it takes quite some time for the figure to £4,921,344 to reach £5 million. I believe that this is the limitation of the fans’ resources and the fans had tried the very best to generate this sum of fund.

Nonetheless, the ability to raise about £5 million from Christmas to 16 February 2020 is amazing. This goes to show the power of the fans’ support for the club to raise the fund for the new stadium while the club remains fan-owned at the same time.

Kudos to the fans on such effort!

WTK

Plan For The Investment Portfolio And Cash At Hand

Having computed my investment portfolio and cash on hand, I note that these two items can last me for 18 years as of now, based on the yield of 2.48%. I can make the duration longer by channelling more cash into the investment portfolio which will in turn generate more dividends for my expense. I am not worried for the current status as I still have the back-up of Central Provident Fund (“CPF”) to supplement. If I include the CPF as well, the total stash will have lasted me for 48 years from now on (not taking into consideration of generated interest from CPF monies).

The assumption is based on the prevailing yield of the investment portfolio. I will channel more cash into the investment portfolio with the aim of generating more dividends and I can afford to take the risk of generating higher dividends.

WTK

Plough Lane Bond

I previously mentioned that the club has been away from its home since 2002. The club’s recent plan to the home move has been encountered with the problem. There is a shortfall of £11 million. There are three potential investors who offered about £7.5 million for a stake in the club. Such stake will be from the fan trust. In conjuncture with such circumstances, most of the fans (members of the fan trust) are not inclined to accede to such request. Hence, the fan-trust bond (also known as Plough Lane Bond) has been created to raise the fund for such move without the fund injection from these three potential investors.

https://ploughlanebond.com/

The fans are of view that by agreeing to the potential investors’ offer, it will mean that the fan trust will cede the control of the club to the external parties. I am of view that such decision will have defeated the fundamental basis on how this club has been set up in 2002.

WTK

 

Transfer Fees

The fan-owned club has been away from its home base since its formation in 2002. During the course of the years, there have been offers from the prospective individuals who indicated their intention of taking over the club. The fan trust (the first and current owner of the club) has been rejecting such offers. The club’s rise from the bottom (namely ninth) tier to third tier of the football ladder has made it difficult to sustain its financial status (balance the book) with the increase of the expenses. The club has no rich benefactor and has to rely on the generated revenues to balance the book. There are several instances in which the club had to sell its players to balance its book. The rich club took advantage of the loopholes in the academy players transfer market and prise them away with the small compensation (supported by the football authority). I have seen a few example of such academy graduates leaving the club before they have the potential to become established first team players. They are as follows:

https://www.afcwimbledon.co.uk/news/2017/june/joe-leaves-for-stoke/

https://www.afcwimbledon.co.uk/news/2017/may/will-mannion/

https://www.bbc.com/sport/football/36985924

https://www.afcwimbledon.co.uk/news/2019/july/home-grown-defender-toby-joins-championship-club/

There is likely to have another potential departure of another academy player:

https://footballleagueworld.co.uk/chelsea-line-up-transfer-swoop-for-afc-wimbledon-prospect/

The above example are the reality of the footballing world in which the rich clubs swoops for the academy graduates at the first time of instance for the bargain transfer fee (an disadvantage for the small club).

There is no point for the fan-owned club to make the formal complaint for such disadvantage given the Authority likely to rule in favour of the big clubs. In addition, the fan-owned club will end up making the compensation for the potential legal costs resulted from the complaint. It will be more prudent for the club to use the compensation fee and channel the fund back into the academy which will produce more academy players for the first team.

The most important thing is that the first team manager must be willing and “daring” to use such academy graduates into the first team. I believe that there will be a few academy players who will slip from the radars of the big club and get into the first team. Such players will have signed the permanent contracts with the fan-owned club and command a significant sum of transfer fees. The fan-owned club will have the bargaining power over the transfer fee and will not accept the tabulated transfers if the amount is not satisfactory.

WTK

More Details On My Decsion To Remain as a BBFA

I consider myself as “Bui Bui Forever Alone” also know as “BBFA”. BBFA allows me to have the liberty and freedom of living my life as per my own term and condition. I feel that this is the way of freedom and I have the option of expressing my views without any restriction placed on me. An example of such restriction is the full-time employment in which the corporate overlord can place its authority over one. One will have no choice but to accede to the corporate overlord’s high-handed imposture on one who needs to rely on the full-time employment in order to pay for expenses such as housing/car loans, kids maintenance etc. These are the incurred expenses due to the highly imposed routine of life imposed and doctrined by the Authority. Those people who do not follow such imposed routine of line and doctrine will be considered and branded as outcasts of the society and shamed by the majority of the people (who follow the routine of life) and indirectly by the Authority. The Authority will not get itself involved in the process due to some political factor.

Despite the unfair treatment for being a BBFA, I have no regret and resolve towards being a BBFA for the rest of my life. I feel happier and content with such way of lifestyle. This is my life and I am the one who decide on how to lead my life. It’s that simple and easy to make such decision by ignoring the “noise” from the general public.

WTK

Example Of “Never Say Die” Spirit

With reference to my last post, the following is the example of the fan-owned club scoring an injury-time goal to salvage a point from the seemingly lost cause:

https://www.afcwimbledon.co.uk/news/2020/february/report-rotherham-v-dons/

The above circumstance goes to show that it is not over until it is over at the final whistle. The same also applies to the other daily circumstance where one assumes that the defeat is a foregone conclusion. There have been instances in which the by-standers made effort to scorn one and urged to give up on the seemingly concluded results. It is better for one to give up and be humiliated by opponents. I am of view that one should maintain the belief (which he/she has cultivated based on his/her reasoning and not by the external influence). This is the way in which I believe that one should focus on doing the things as per his/her perspective.

“Never Say Die” Spirit

One of the reason in which I support the fan-owned club is the “New Say Die” spirit. The team will keep on fighting from the losing or drawing situation to try converting these situations into the wins regardless of how much remaining time from each time. The team will keep on trying and putting the best effort in converting the prevailing scoreline in its favour. This is the way in which I admire such fighting spirit and determination.

WTK