This doesn't look good.
https://calsouth.com/wp-content/upl...-March-24-2023-Board-of-Directors-Meeting.pdf
https://calsouth.com/wp-content/upl...-March-24-2023-Board-of-Directors-Meeting.pdf
Cal South Minutes
- Thread starter dreamz
- Start date
excerpt :
A lot of the programs at the current moment are losing money and they're not losing money in small increments, they are losing money in big chunks. From just looking at last year, it hasn't changed this year and I think it's more expensive this year. Last year we lost over $200,000 on the cups. The referee program, we lost over $150,000 last year. Everything that we're doing right now is not priced correctly. Just between these two years, we've almost lost, $4 million. We ended up getting 800 grand from PPP money and another 200 grand from ERC Money. We added $1,000,000 into our coffers but we lost $4 million. So we actually lost $5 million in the last two years. Obviously, there's no way you can sustain that.
A lot of the programs at the current moment are losing money and they're not losing money in small increments, they are losing money in big chunks. From just looking at last year, it hasn't changed this year and I think it's more expensive this year. Last year we lost over $200,000 on the cups. The referee program, we lost over $150,000 last year. Everything that we're doing right now is not priced correctly. Just between these two years, we've almost lost, $4 million. We ended up getting 800 grand from PPP money and another 200 grand from ERC Money. We added $1,000,000 into our coffers but we lost $4 million. So we actually lost $5 million in the last two years. Obviously, there's no way you can sustain that.
Add inflation and the gas prices and this is not good. I know a few pals who own businesses and they have taken on huge losses the last two years and one had to close their business. Covid caused severe damage to most of us in SoCal and it also closed Girls Development Program.
the board minutes are a fascinating read
I hate to read from my past PTSD of being forced to read out loud and do Oral Reports in school. Thanks for pointing out the hot points.
Basically saying all they have is ODP
RandomSoccerFan
GOLD
There's no specificity on their access to capital or their reserves (at least in these minutes), all that's stated is they lost $1.7M last year, and are on track to lose more than that this year. It sounds like they knew they were losing money, hired a few additional experienced people to try and turn that around, and instead that turbocharged the losses with the added payroll that did not result in significantly (any?) more revenue. Unclear if they have to fold in 6 months, 18 months, or 10 years - but knowing how much money that actually have access to would get someone closer to be able to answer that question.
Enter Surf…call it Cal Surf…they have plenty of dough.
I had that thought as well. These two groups hated each other when my dd was invited to ODP. ODP was the holy grail in socal before the GDA and "The YNT List" took center stage and the ODP list became irrelevant and actually mocked as dumb. Surf players were told not to go and it was a big waste of time. My dd was confused and so was I. You get this invite to ODP and your told it's only a big money grab, a big nothingburger, don't go and you will only get hurt because they play kickball. Well, my dd did go, it was kickball, no possession, just those who could do tricks with the ball, hold on to it and try and score all the goals and she got hurt (broke her wrist from a hard foul). As I look back and read my notes, it's obvious their is and was a war going on and the poor kids are and were stuck in the middle again.
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Code
SILVER ELITE
I read somewhere in the minutes that the funds projection for Sept of 2023 (the beginning of the season) for funds available to cover year 2023 and 2024 expenses leaves $0.00 for 2024 right now. Maybe I misread it. Seems to me that the decision to continue or fold would be made in Sept of this year.
RandomSoccerFan
GOLD
Ah, got it. If it's there, I missed it. Sounds like a pretty short runway.
It is pretty irrelevant what happens to them at this point....there's not much left there. Teams will just have to go to SoCal or start a new league to compete with SoCal and then take advantage when SoCal gets too big and arrogant and loses its customer focus and loses all its teams to ECRL2 or GA Ocho ...... and then it starts all over again
The limiting factor is that the alphabet leagues don’t tend to really start until around 11v11. The way things are headed with all the new alphabets including ecrl2, ea2 expansion, the ecrl expansion, the new mls club affiliated national academy league, usyl and e64 is that SoCal might already be the new ayso, specifically geared towards Younger’s and semi Rec players that want a more limited season to do other sports
though national academy league is threatening in its press release that some directors might go younger so that Might start being a trend too (pre mls next in nal).
Cal South blew up two years ago. SCDSL kicked the legs from underneath the the table holding it (and Presidio) up when they aligned with USCS and recruited BT.
This is both dead right and wrong at the same time.
The January minutes where 1/4 of a page. The March minutes are 12 pages long. It was only a matter of time before they removed them. They are severally damaging at best and catastrophic at worst. Good thing they were easily downloaded for historical reference
Word on the street has it that TF has been placed on administrative leave.
Someone share a link to the downloaded .PDF!The January minutes where 1/4 of a page. The March minutes are 12 pages long. It was only a matter of time before they removed them. They are severally damaging at best and catastrophic at worst. Good thing they were easily downloaded for historical reference
Word on the street has it that TF has been placed on administrative leave.
I've seen minutes posted for non-profits, but I've never seen a word-for-word transcript of a complete undressing of a financially-troubled non-profit. I have to imagine that was a Level 10 blunder, or someone on the inside who was very disgruntled and trying to put the nail in the coffin. The most preposterous thing in the whole transcript was the group of them agreeing to go into the "confidential" session at the end. Which means that there's even WORSE stuff that didn't make it into the transcript. Fiasco.The January minutes where 1/4 of a page. The March minutes are 12 pages long. It was only a matter of time before they removed them. They are severally damaging at best and catastrophic at worst. Good thing they were easily downloaded for historical reference
Word on the street has it that TF has been placed on administrative leave.