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CORNISH GONE 😱😱😱
Discussion started by wsm fan , 25 August, 2019 12:53
CORNISH GONE 😱😱😱
wsm fan 25 August, 2019 12:53
Somerset have parted company with CEO Andrew Cornish, further details to follow.....



Edited 3 time(s). Last edit at 10/09/2019 13:08 by Grockle.

Re: CORNISH GONE 😱😱😱
AGod 25 August, 2019 13:09
What on Earth is going off out there?

Re: CORNISH GONE 😱😱😱
AGod 25 August, 2019 13:30
A drop of around 600,000 quid in projected income, per George Dobell.... and Cornish has - by the looks of it - been asked to leave on that basis.



Edited 1 time(s). Last edit at 25/08/2019 13:30 by AGod.

Re: CORNISH GONE 😱😱😱
AGod 25 August, 2019 13:31

Re: CORNISH GONE 😱😱😱
Bobstan 25 August, 2019 13:31
Not exactly a shock, this news, is it?

Re: CORNISH GONE 😱😱😱
AGod 25 August, 2019 13:36
Isn’t it? Why not?

Re: CORNISH GONE 😱😱😱
Grockle 25 August, 2019 13:37
Nope. He has been persona non gratia most of the last couple of months gauging the feel around the place.

He seemed isolated or had chosen to take that position. He seemed to have little interaction with his acting Chairman.

I haven't seen him in the pressbox this year - once a game with other CEOs at least. No love lost with the press, no comment from the staff. Questions about some financial decisions - the 2 shops seemed strange and its financing was shrouded in some mystery.

More to come I get the feeling given this has happened at this point in THIS season.



(Sm72)

Re: CORNISH GONE 😱😱😱
AGod 25 August, 2019 13:39
I thought I’d heard him on the radio commentary and stuff? Maybe that was last season.

Re: CORNISH GONE 😱😱😱
AGod 25 August, 2019 13:44
So if we’re down 600 grand in profit, then that is liable to have a marked impact on the playing budget for next year... I wouldn’t expect many arrivals and most of the out-of-contract will, presumably, have to go?

Re: CORNISH GONE 😱😱😱
Mike TA1 25 August, 2019 13:59
I have just read cricinfo.

After what I was told this week and rumours going around about the clubs finances I am not surprised.

There is other factors that I can't go into in case I get the facts wrong.

Re: CORNISH GONE 😱😱😱
AGod 25 August, 2019 14:04
One does wonder how we could have blown it? Player costs are, presumably, predictable unless we increased the size of win bonuses and have, thus, become the victims of our own success. T20 has sold out. I don’t think we’ve been particularly hammered by the weather? (And would have had insurance anyway).

How can we be 600 grand down unless, perhaps, the original forecast was absurdly optimistic!? Did something go awry with WC games?



Edited 1 time(s). Last edit at 25/08/2019 14:08 by AGod.

Re: CORNISH GONE 😱😱😱
Mike TA1 25 August, 2019 14:06
I thought I just had a email from the club confirming it, when opened it was about Murali Vijay joining Somerset

Re: CORNISH GONE 😱😱😱
Nailsea_Fizz 25 August, 2019 14:12
Quite riight about the facts Mike, won't stop endless conjecture and pages of hypothesis

Re: CORNISH GONE 😱😱😱
Mike TA1 25 August, 2019 14:17
He didn't do the presentation for MOM last night, I thought at the time I wonder if something has happened.

Re: CORNISH GONE 😱😱😱
Grockle 25 August, 2019 15:16
Yep rumour ISN'T fact and nowhere does it say Somerset was going to have Β£600K they now don't have.

The Cricinfo article says 'anticipated' and the figure is PRE TAX so a Gross rather than anywhere near a Net figure. It also does not say we WILL struggle to break even. So the doom laden predictions on playing staff are extremely previous.

Even at break even level one would assume that the accounts would include the Player budget as planned.



(Sm72)



Edited 1 time(s). Last edit at 25/08/2019 15:25 by Grockle.

Re: CORNISH GONE 😱😱😱
AGod 25 August, 2019 15:35
Er... it says precisely that our profits are expected to fall around 600 K short of what was expected... so that’s exactly the same, per George, as saying that we expected to make 600 K and we’re now - per George - going to come nowhere near - perhaps to the extent of no profit at all. Common sense says that that would be expected to have an effect on our recruitment budget for next year.

Re: CORNISH GONE 😱😱😱
Mike TA1 25 August, 2019 15:54
There could be several reasons for 600k down, maybe the income from the World Cup is 600k down.

Re: CORNISH GONE 😱😱😱
Grockle 25 August, 2019 15:58
Errr no it doesn't.

A Gross profit figure is NOT a final profit figure. Anticipated is not definite. Depreciation, taxes etc can significantly affect the final Net profit figure and the player budget is NOT based on the profit the club makes.



(Sm72)



Edited 4 time(s). Last edit at 25/08/2019 16:22 by Grockle.

Re: CORNISH GONE 😱😱😱
AGod 25 August, 2019 16:06
Yes, I know the difference between gross and net, thank you very much.

It would be astonishing if next year’s playing budget were to exist independently of the club’s overall profitability.

Re: CORNISH GONE 😱😱😱
Grockle 25 August, 2019 16:18
Well maybe you ought to post as if you do rather than creating half a milloon pound scare scenarios on the basis of a Cricinfo paragraph.

I assume you also understand depreciation which in a building year could also be significant.



(Sm72)



Edited 2 time(s). Last edit at 25/08/2019 16:21 by Grockle.

Re: CORNISH GONE 😱😱😱
AGod 25 August, 2019 16:24
I also know that the club had not actually been including depreciation in its accounts as it considered it β€˜unrealistic,’ to do so. Therefore, unless that has changed then that may be a red herring.

And I didn’t create a scare scenario. A 600,000 pound gross profit, if that was what was projected will also have produced a projected net profit and, if George’s Article is on point, then we may find ourselves without all of it, or even with a net loss.

Re: CORNISH GONE 😱😱😱
Grockle 25 August, 2019 16:38
Words of importance 'projected' 'if" 'may"

You always look at the worst 'projection". That is a scare scenario. I'm sure if someone talked about a Β£300K net profit you'd be 'poo pooing' that and talking about "net losses' etc.

You create pessimistic scare scenarios. It's what you do.

You post a lot about the probability of all these things and that stats don't lie etc In your case

You quack like a duck and you walk like a duck so......

Scare scenario.... you have nothing to say unless you create one.

We'll wait and see when there is more information than 10 lines to break the story.

Seems we can afford Murali Vijay by the way.. .



(Sm72)



Edited 4 time(s). Last edit at 25/08/2019 16:54 by Grockle.

Re: CORNISH GONE 😱😱😱
Grizzzly 25 August, 2019 17:08
Well, I had no idea that was on the cards, nor any idea what’s been going on behind the scenes.

A great shame a superb season on the field is seemingly co-including with off field turbulence.

Great credit to the players and to Jason and Andy for maintaining their focus despite whatever has been occurring behind the scenes.

Grizzzly

Re: CORNISH GONE 😱😱😱
Grockle 25 August, 2019 17:16
Hear Hear Grizzz. It has been bubbling in the background for a while but I suppose the commercial aspect of the club is very secondary to match prep during the season.

I'm sure it will all be ready for explanation by the AGM and there will probably be a pretty extensive audit procedure during that if it isn't already underway.



(Sm72)

Re: CORNISH GONE 😱😱😱
Roger ivanhoe 25 August, 2019 17:20
Agree Grockle, far to early to be drawn in reasons why he has left,but attendances are up, Catering seems to have gone well with many days the Carvery being sold out, apart from the Floodlights no major expenditure incurred during last winter, apart from the second shop. We were told by the previous Treasurer that the floodlights payments covered and cleared by the ECB receipts this October.

Re: CORNISH GONE 😱😱😱
Tom Seymour 25 August, 2019 17:48
I was made aware some time ago that Mr Cornish and our acting Chairman did not see eye to eye. Don't know much about other relationships within the club.

It would be a mistake IMO for the committee to make the acting Chairman our new Chairman on account of his vested interests in things at the Club. He owns Somerset Sports which run the shop adjacent to the museum; he has I believe a box on the ground for which he pays no doubt a sizeable rent to the club and the 'other' shop which is run by the club must be a money loser. The club will have lost a good rent when the tenant (? Mail a Doc or something) left, and I wonder how profitable it has been since opening, as there is very little stock inside to chose from. It was a strange decision to make.

We were lucky for our ground to have been allocated 3 games in the World Cup - none of which were rain affected. We also had the Women's Test match England v. Australia plus not only good crowds in our CC games but sell - outs for the RLODC plus T 20's. If we can't make a good profit in a year such as this then we can't ever expect to.

Something is radically wrong, and it is not simply down to finances.

I think that I have said enough but looking for a 4th. CEO within a few years is not tantamount to being seen as a well run Club.



A glass half - empty or a glass half - full?
Regardless, both glasses need filling up.

Re: CORNISH GONE 😱😱😱
AGod 25 August, 2019 18:14
Except we had, repeatedly, made profits in previous years, Tom?

But something must, surely, have gone very wrong - other than this shop business?

Re: CORNISH GONE 😱😱😱
Cleavo 25 August, 2019 18:33
No official word from the club yet, which seems strange. There’s more to this than meets the eye.

Why are we going through so many Chief Executives? Hardly good for stability at our great club is it?

Re: CORNISH GONE 😱😱😱
Grockle 25 August, 2019 19:06
Richard Brice would not be the first Chair of the club to have interests in aspects of the place. Not sure whether that has any relevance to the post if they are clear snd obvious. I don" t think it has affected his activities as acting Chair has it?

Many chairs have been deeply involved in the activities. Isn't that what the role is about?

Commercial interests of the CEO perhaps but again, not if they are clear and stated. This may be one of the issues and a possible source of tension between the 2 officials perhaps. I'm sure it will all become clearer as this develops. But we may never know any more of course.



(Sm72)

Re: CORNISH GONE 😱😱😱
Kilmainham 25 August, 2019 19:47
As per Tom's post I also wonder about the profitability of the shop. I spoke to people in April and questioned the wisdom of producing stock with same initials as a number of other counties. The stock should be unique to Somerset. We are Somerset after all. Surely that would be a better sell but would love to know the figures.
Agree with Cleavo and wonder why we are going through so many CEO in such a short space of time and agree with the question about stability.

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