Correct.

I suspect the actual amount not honouring pledges will be very very small indeed.

I'd be very interested to see the stats on this

Good luck with that.
I imagine it's as likely as a full and frank statement of the whole facts.

I haven't honoured my pledge yet as I was waiting a few days in the hope that the club would clarify the situation regarding further investments. When I pledged I assumed (stupidly) that the club would do this after the 1st 500k was reached. I am starting to realise that this is not going to happen so like many others I have resigned myself to possibly throwing my money at a sinking ship. I am disapointed with the club for putting us in this situation. What they should have done is said that they will only take our pledges if they can secure the remaining 500k from investors/sponsors. That way we're not just handing our money to the administrators.



An email went out to 'non paying pledgers' yesterday saying:

'If everyone who receives this email redeemed their pledge, it would bring in over £50,000'

That suggests a non-payment rate of around 10%. All of which has been caused, it seems to me, by the utter lack of communication from the board. Whilst there will undoubtably things that they cannot and should not tell us at the moment, regarding financial conversations, the fact that they have told is absolutely nothing has not helped the cause.

BTW for the avoidance of doubt, I have paid

I believe they [idid[/i say that they would only call in the pledges if/when the other £500k was sourced. Which is why I've been fairly relaxed about things. The silence now, however, is deafening.

actually it suggests non payment percentage is lower than 10% as the pledge total also included bucket collection,auction proceeds, car wash etc. I know originally they said 500k off pledges but they changed wording as campaign progressed to include monies raised through other events.

it would not surprise me if the few days extension for the pledge was so they could alsosatisfy themselves that there was a very good prospect of getting the second £500K. If there was no prospect at all Hoods only move would be to resign and let Caisley and his widely trumpeted plan carry the burden. it takes time and it could all go wrong, and the investors/whoever would want confidentiality until its all done and dusted, so they are saying as much as they can, Ryan said yesterday that there was nothing further to report in terms of potential investment into the club, which presumably means that they are still in talks with two parties but nothing resolved.

Doesn't that suggest a non-payment rate HIGHER than 10% then. My maths is rusty...but

If £500,000 in pledges, then £50,000 not paid = 10%

If £450,000 in pledges, then £50,000 not paid = 11.1%

If £400,000 in pledges, then £50,000 not paid = 12.5%

...and so on

All a bit pedantic maybe. The key thing is to get that £500K in by some means or other

Hold on. That £50k figure was plucked out of the air AFAIK, so who cares about the specific calculations? The point, however, still stands - some idea of how we're doing would presumably help rather than hinder things.

Not necessarily. Any suggestion that pledgers aren't paying could have an effect similar to triggering a run on a bank - those that havent paid will think they could be throwing their money away.

I always assumed there would be a non-payment rate of 5-10% I don't think that's too bad.

You'd like to think the club factored that in, but when the final total was announced as £506,000 there isn't a lot of room for shortfall

Well I've pledged but not paid yet! I don't get paid until Friday and didn't personally specify when I would pay. I will honour my pledge on Friday. Most people don't get paid until the end of the month, see what the figures say after that!

Apparently they did factor it in. However, with calculations like that, if there isn't transparency around it, it just starts looking like smoke and mirrors - cf. capital calculations and the global banking crisis.

Why don't they just issue an update and solve the lack of communication problem because right now it looks like they have something to hide. There's already a lack of trust, staying silent will only make it worse.

They said they needed to raise £500,000 immediately and another £500,000 soon after. Did anyone really think those were exact amounts to the nearest £?

Er. No. And your point is...?

Looking at some of the comments on this Forum I can understand why Bradford now has a memorial commemorating the Luddites

I coughed up my £50 last night so don't look at me!

Already paid, but can't help but think that the attitude is 'Thank God we've got their money. We can stop talking to them again'. In the words of Pete Townsend "We won't get fooled again"

Its not in Bradford!!! Darn sight closer to Huddersfield than Bradford

I never received one? I do intend to honour my pledge tomorrow though when I am paid. I certainly will not be giving any more though without further information from the club.

tbf, the club are not asking for or expecting anyone who has already pledged in any way to give any more - just for people to honour their pledges as you are doing and I have done.

Yes that's a fair point.