Financials
AFC are on target for small operating loss this year, so breakeven over 2 years – as per guidance earlier in 2006. The bank seeing this as evidence the club finances are now in control. However it is key is to roll up as much of the debt as possible and the acceptable way of doing this was via a separately property company (Talltray) which is 100% owned by AFC.

Company Split
The solution was fundamentally devised by Duncan Fraser after a number of meetings with key partners.
The £500k mentioned in the football side is working capital not a transfer kitty. The current loans were in place until 2008 but the operating breakeven structure allows the Club to renegotiate them with a longer term view at this time

Stadium
Meetings between AFC and Aberdeen City/Shire councils have made clear that club need council assistance over stadium relocation with the preferred option being a community stadium with a significant contribution from the Club who would need to be the lead tenant operating its commercial activities as happens at the present time.

Note: it was clear to the Trust representatives that remaining at Pittodrie in the long term is NOT an option.

The Stadium proposals will be worked up by the council, the Club and other interested parties over the coming 9/12 months with the desire to agree a way forward as quickly as possible.

The possibility of the club becoming homeless was not seen as at all realistic.

FG Burnett independently assessed whether deal was good and fair and agreed it was.

Commercial
Match day hospitality basically all but sold out last season and lined up similarly for coming season – prices raised commensurately based on that demand.
There are 11 current commercial staff at Pittodrie
The Youth programme sponsorship getting considerable sponsorship – much more than rivals. Indeed the meeting was held on the day of the launch of the new Youth Academy.
Aim is to have approximately 8500 season tickets next season, similar to last season. AFC are happy with this level of season ticket sale at current pricings.

Club Shop
AFC happy with performance and range. Hit badly before being outsourced last year with over stocked “smaller” items. The first team strips are available earlier – the new one is out now, to buy, with the 2nd strip in July

AFC Trust
AFC Board recognise Trust support, and are particularly supportive of Reds Direct initiative and keen to assist revitalise it in any way they can. See the fundamentals of this scheme as the way ahead for supporter involvement. Want to see co-ordination of fundraisers and ideas– concerned that too many can dilute the effort.