Phoenix Shrimp 2017 wrote:Peter McGuigan was brilliant for our club during his tenure, until 2017 that is when he had a complete meltdown. He was completely suckered by Lemos and I can only imagine he looks back on that now with great embarrassment. He must recognise what a mess he left us in and that has continued through till today with no sign of an end to the problems. A great shame that his legacy ended this way.
KenH wrote:HPhoenix Shrimp 2017 wrote:Peter McGuigan was brilliant for our club during his tenure, until 2017 that is when he had a complete meltdown. He was completely suckered by Lemos and I can only imagine he looks back on that now with great embarrassment. He must recognise what a mess he left us in and that has continued through till today with no sign of an end to the problems. A great shame that his legacy ended this way.
He was brilliant until he spunked all the Sainsbury money on Westgate and put an incompetent baffoon in control of building and operating it in the first few years.
He guided the club to what could have been a golden legacy of selling Christie Park and navigating all the legal hurdles it entailed with the JBC trust etc.
Then it all went wrong. Grossly over spent on a stadium that wasn't (and still isn't) fit for purpose, costly changes to the plans during construction causing delays and over-spends. Spunking money on a gym and artificial pitches with no business plan in mind meaning they never even started to reach any money making potential, mostly due to lack of marketing and management. Same with the bar, hospitality suite and function rooms - all good in theory, but again poor marketing and management. Wasn't the bar offering stupid things like buffalo burgers? The lack of facilities behind both standing stands is well known. Awful small crowded concourses in the main stand. It should be documented and used as an example in business schools for how not to spend £10 million!
The overspends and failures of many aspects of the new "business plan" is what caused the club to have to sell off the parcels of land for a song, caused it to hive off the gym building and pitches to a separate company to secure loans against them, etc etc.
So, no, he wasn't doing well till 2017 at all. It all went wrong from the moment in time just after the sale to Sainsbury had been finalised and the JB Trust had been moved to Westgate. From the moment the first sod of Earth was cut to build the stadium, it started to go wrong under his mis-management!
marky No.1 wrote:The old Christie Park, now Sainsbury will be worth 3 times what the Mazuma is worrh.
There were so many Directors loans paid back after the money was received and I presume that part of PMGs payment was the Gym and 3G pitches.
Westgate FC were also relocated at a cost and at the time building costs rocketed and the interest rate received off the money plummeted hence the scaledown.
Corporate was all they were interested in, bison steaks my @rse , have a pie instead.
Also miscalculated the grant for an all seater stadium, look what Chesterfield got for similar money
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