This is the third in a series of monthly question and answers to the Bees United board.
Thank you to all those that have send their questions in so far. You can send in your questions to Mark Chapman at mark.chapman@beesunited.org.uk. The closing date for November's Q & A is October 25. You do not have to be a Bees United member to ask a question.
From Allison Franklin: We were originally given a five-year time line for a move to Lionel Road. This clearly isn't going to happen. What year are now looking at for the possible move?
Brian Burgess replies: As you say, the project programme for a new stadium has always been 5 years from the 'starting date' when we have secured a position on the site. What has slipped is the fact that we haven't yet reached a starting date, although it is now closer than it has ever been. The current target is to move in the 2012/13 season.
From Allison Franklin: Given the complexity of financing and organising a new stadium and knowing just how many things can go wrong, what is Plan B for BFC if Lionel Road does not happen?
Brian Burgess replies: Given that a new stadium on another site would take even longer to achieve, Plan B has to ensure that we can survive at Griffin Park for longer than 5 years. Plan B is therefore looking at what we can do within the confines of Griffin Park to make it more sustainable.
If Lionel Road is going ahead we would naturally limit investment at GP, but Plan B would mean investing more in the short term in order to generate more revenue in future years.
From Andy Evans: The funding available through Bees United barely keeps our head above water as a club, and certainly doesn't move us forward much. As it is not likely to increase much via the current fund raising efforts, I wondered if Bees United is actively seeking additional investment (other than via Matthew Benham). If they are, and without giving away any confidences, could you detail what efforts have taken place to date and whether Bees United would consider giving away their share (or part) in the club if they felt that reputable investors could bring in much needed funds?
Brian Burgess replies: I think it’s fair to say that we never stop seeking investment or looking for ways to improve the financial structure of the club. Last year we were working on the re-financing deal with Matthew Benham which came to fruition in January. This year we have been trying to follow that with a way of attracting more equity into the club without reducing Bees United's shareholding below 50%. The BU Board has considered reducing the trust's stake from 60% to nearer 50%.
So far we haven't been able to come up with a deal but this will not stop us from continuing to search for solutions. These things are, however, slow and time consuming and its also fair to say that this is currently taking a back seat to the effort to secure a deal for a new stadium at Lionel Road which is the top priority at the moment. If we can pull this off it will of course make the club more attractive to potential investors.