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Scally urged to open books

PAUL SCALLY: "I am always interested in what supporters have to say"
PAUL SCALLY: "I am always interested in what supporters have to say"

MEMBERS of the Gillingham Supporters Trust are asking club chairman Paul Scally to call an extraordinary meeting of shareholders to examine the implications of financial problems at Priestfield.

The Trust, which includes some of the club’s most loyal and long-serving fans, including former Player of the Year Tony Cascarino, are seeking greater clarity over Gillingham’s plight after Mr Scally set alarm bells jangling by admitting that Priestfield Stadium could be sold as a last resort.

The Trust’s eight-strong board have written to Mr Scally setting out a five-point plan of action.

* The publication of a set of interim accounts, that reflect the current state of the club’s finances, to be circulated to all shareholders.

* An extraordinary general meeting be called to further explain existing circumstances and make a detailed and unambiguous case for any new rights issue.

* Should a new rights issue become a realistic option, an early indication should be given to potential investors as to the proposed price of any new shares.

* Confirmation to be given that shares in the company will revert to open trading on OFEX, or a similar market, by a clearly specified date.

* Confirmation be given as to the number of new shares to be purchased by existing board members of the football club.

At their last meeting, shareholders were astonished to discover that Gillingham vice-chairman Peter Spokes was not a shareholder.

The Trust stress the proposals are not designed to imply criticism but rather to seek reassurance on the future well-being of the club.

But Mr Scally gave the Trust short shrift, describing the statement as “mischievous”.

The statement reads: “Greater transparency can but enable potential investors to make more informed judgements, as well as put minds at rest among supporters and small shareholders.

“It is, after all, less than four years since the community of Kent dug deep to raise one and a half million pounds for Gillingham Football Club.

“To expect more of the same requires far greater clarity over present difficulties than we have seen so far. It is also incumbent on supporters at this time to demonstrate the degree to which they care, by attending matches in greater numbers, thereby helping to provide part of the cash boost, which is clearly needed.”

Chairman Nigel Holland, on behalf of the Trust, emphasised that nobody was criticising or pointing fingers.

He said: “The financial plight of Gillingham Football Club has been the subject of intense speculation following a number of somewhat conflicting statements. Few of us, if any, have a genuinely clear picture of the extent of the crisis which appears to be unfolding.

“Confusion and concern among both shareholders and supporters is growing, yet precious little information seems to be available as to the precise remedies required to secure the future of the club, and with it the safeguarding of league football in Kent.

“Admittedly, there has been a call from the club to support a possible new rights issue to raise £4 million, but how can a considered judgement be made on whether to invest when meaningful information is hard to come by ?”

He added: “The club has made significant progress in recent years under the stewardship of Paul Scally, so criticism and finger-pointing is neither justified nor helpful.

“If the football club feels it right to ask the community for additional financial support however, the public has an equal right to know more about present difficulties than is the case today.

“This situation is exacerbated by the mixed messages emanating from Priestfield, which range from reports that the business is sound but merely suffering a temporary cash shortfall, to veiled threats that if matters do not improve, the stadium may have to be sold.

“Everyone in football appreciates that selling their stadium sounds the death knell for any club, and frequently represents a final act of desperation.

“Are things really that bad at Gillingham? If so, we need to know more. If not, why raise the issue at all?”

Mr Scally retorted: “I’m always interested in what all supporters have to say. And most supporters, who have something serious to say, will direct their questions to me personally. “What I won’t do is conduct my negotiations through the press.

“The very fact that these people have sent this circular to all the press and haven’t had the courtesy to discuss it with me first, very much leads me to suggest that their agenda is not actually straightforward and that there is a little bit more mischief behind this than meets the eye.”

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