Welcome, Guest |
You have to register before you can post on our site.
|
Latest Threads |
Thread to talk about foot...
Forum: Sheffield Wednesday
Last Post: Imre varadi
1 hour ago
» Replies: 5,880
» Views: 1,838,007
|
The chain thread may mini...
Forum: Preston North End
Last Post: Lord Snooty
2 hours ago
» Replies: 14,030
» Views: 2,189,500
|
Town v Pish Posh 06-Sep-2...
Forum: Huddersfield Town
Last Post: theo_luddite
4 hours ago
» Replies: 22
» Views: 300
|
Pre season suicide watch ...
Forum: Sheffield Wednesday
Last Post: Washington
9 hours ago
» Replies: 500
» Views: 23,715
|
Thread For Anything But F...
Forum: Sheffield Wednesday
Last Post: Statesideowl
Yesterday, 23:00
» Replies: 3,024
» Views: 1,417,381
|
Players for Pounds 2025-2...
Forum: Huddersfield Town
Last Post: theo_luddite
Yesterday, 19:02
» Replies: 47
» Views: 1,719
|
Chesterfield Prediction L...
Forum: Chesterfield
Last Post: SaltergateBorn
Yesterday, 09:13
» Replies: 45
» Views: 1,479
|
Prediction League Fixture...
Forum: West Bromwich Albion
Last Post: derbybaggie
Yesterday, 01:10
» Replies: 3
» Views: 114
|
Fixtures and match thread...
Forum: Huddersfield Town
Last Post: Lord Snooty
05-09-2025, 22:38
» Replies: 23
» Views: 1,234
|
Investment
Forum: Lincoln City
Last Post: themaclad
05-09-2025, 18:43
» Replies: 0
» Views: 62
|
|
|
New Owner slightly minted |
Posted by: themaclad - 06-05-2024, 19:02 - Forum: Wycombe Wanderers
- No Replies
|
 |
Wycombe Wanderers have been taken over by Kazakhstan billionaire Mikheil Lomtadze.
His Blue Ocean Partners Ltd company has bought a 90% stake in the club, who finished 10th in League One this season.
The Chairboys have been owned by American businessman Rob Couhig since February 2020.
He will remain chairman during the transition of ownership, which will also see Dan Rice become chief football officer, having previously worked at various Premier League clubs.
"Our goal is to achieve long-term success both on and off the pitch whilst building a financially sustainable club, said Lomtadze, a technology entrepeneur.
"The football world is evolving very fast and our priority will be to integrate data analytics and technology to elevate the club’s performance to new levels.
"I am also a strong believer in youth development and it will be fundamental to the club’s vision. We aim to re-open and build a leading high-performance academy which will become an essential part of our long-term strategy of developing a club that consistently performs at the top level."
The sum involved in the takeover deal has not been disclosed.
Lomtadze was listed 581st on the Forbes list of billionaires this year,, external with an estimated net worth of $5.7bn (£4.5bn).
Wycombe were promoted into the English Football League in 1993 and had a season in the Championship in 2020-21 under former boss Gareth Ainsworth.
They reached the League One play-off final the following season, but lost 2-0 to Sunderland at Wembley.
Wycombe's Adams Park ground was built in 1990 and Wasps rugby club also played there for 12 years until 2014
Ainsworth left after more than a decade in charge in February 2023 to become Queen's Park Rangers head coach and was replaced by Matt Bloomfield.
The Chairboys reached Wembley again this season, only to lose to Peterborough United in the final of the EFL Trophy.
"I am excited for the future of Wycombe Wanderers," said chairman Couhig.
"Last year, I announced that I had begun looking at a possible succession plan for our ownership. Since then, I met with a significant number of well qualified people.
"It was apparent from that first meeting that Mikheil and I shared similar values...I came to understand that his goals for the club were similar to mine."
Eduard Vyshnyakov will also join the Wycombe board and will assume responsibility for financial planning.
|
|
|
HTAFC Prediction League 2024 Play Offs 1st leg (Bob v Neon) |
Posted by: Lord Snooty - 04-05-2024, 18:04 - Forum: Huddersfield Town
- Replies (10)
|
 |
2 points for correct result
4 points for correct score
2 points for each correct scorer
Correct joker doubles your score (correct score on a joker would give you 8 points)
Wrong joker result gives you minus 2
Correct Random Badger gives you 2 points 
The random badger is used for any random prediction used once in each matchday sequence. For instance, a scorer at a particular match, the number of red cards in the matches or yellow cards or own goals or owt you want really within reason, I do need to be able to check whether it's correct or not. Please don't put stuff like....."Commentator says...."
The joker is played for one match in each sequence and if correct you get double points. So if you've predicted 1-0 and it finishes 2-0, you get 4 pts, but if you've predicted 2-0, that's 8 pts. But if you get it wrong, it's minus 2.
Jokers and badgers are optional. You don't have to play one if you don't want.
The prize for winning the league is one rep point.
Cup games: In the event of a draw, it's half the points if you've predicted a draw when it gets to 90 mins and the full points if it's still a draw after extra time. Half the points will be awarded for correctly predicting the winner of the match if it goes to penalties. Similarly with the badger, if your random prediction is affected by this, it'll be half the points.
Random score generator: I will be using the random score generator again for those who miss predicting, so we shouldn't get some people too far behind that after missing a couple of weeks they lose all interest, because I know it's not easy getting on here every week.
To be fair to everybody, this is going to be like, say if three people in one week miss their predictions, the first one in the table will be given all 0-0, the second one down the line will get 1-0 and the third will get 0-1 and so on, like if there's four missing the 4th will get 1-1, then 5th 2-1, 6th 1-2. and if there are so many missing, might as well pack in. 
And if you miss two weeks on the trot, I'll stop until you come back on again. Not doing it for half a season like I did t'other year. 
End of season Play Offs: The one who finishes top of the league will still be champion, but after the season finishes there will be Play Offs between the top 4, with 1st v 4th and 2nd v 3rd. This will take in stuff like the EFL Play Offs, FA Cup Final, final day of Prima Donna League, European Finals etc. It will be one matchday for the semis and one for the Final. It will be the individual scores for each matchday against the allotted opponent, with some kind of tie breaker for a drawn match.
The prize for winning will be enormous. Another rep point. 
So we have a new format for this season, which I put forward as an idea at the end of last season. Nobody offered any objections so here it is explained......
Firstly, I thought it was getting a bit boring towards the end with the league format as it was with the champion being so far ahead and everybody else not much to play for apart from the push for a play off spot, which was a bit of an anticlimax anyway. The most exciting bit was the tussle for 8th, 9th and 10th positions with Shep, Ritchie and Amelia.
So I'm splitting the group up into two groups with the top six from last season in the top group and the bottom six in group 2. At the end of the season, the winner of group 2 and the bottom of group 1 will swap places in what is commonly known as "promotion" and "relegation". It's something that most football fans will be familiar with, unless you're a fan of Liverpool or Arsenal or one of those other fashionable clubs.
The second placed player in group 2 will then have a play off with the player who finishes second from the bottom in group 1 to decide whether they will be going up, down or staying where they are.
We're going to have two seasons in one though, just to try and make it a bit more interesting and not so long drawn out. The first season will end on the Boxing Day fixtures, with the play offs being on the dates of the Twixtmas fixtures and the NYD fixtures.
The second season will start the following week, finishing on the last game of the Championship season. Then another period of relegation/promotion play off games, taking in such fixtures as the EFL play offs, FA Cup Final, UEFA finals and such like.
Each group will have it's own set of fixtures. Both groups will have the Town games, with scorers to predict as before. Then it will be a split of Championship fixtures and bonus matches. And not as many fixtures to go at. Hopefully around ten, eleven or twelve games per Matchday.
The rest of the rules will be the same as before apart from the which will still be in use, but I'm going to get arsey about it. Sometimes in the past, I've been able to just award two points immediately because it was such a nailed on thing to happen. Not accusing anyone of cheating. Far from it. I didn't put any boundaries on it, so anything was alright. So now I'm restricting it to three goal scorers in any of the games in your group. Sorry to all our more adventurous badgerers.
Here's how that will appear at the end of the fixture list. All you have to do is fill in the blanks.......
*** scores for ***
*** scores for ***
*** scores for ***
Any of those will score two points if correct. No minus points for getting it wrong.
The joker will still be the same as before, ie doubling your points for a correct prediction or minus 2 for getting it wrong.
Postponed matches will only count if the match is re-played before the next Matchday is under way. Abandoned matches will be awarded half the points for the score at the time of abandonment, so 1 point if you have the correct result, 2 points if you have the correct score.
Substitute :- These will be only be allowed if you change them before the match involved has kicked off.
So we now have a two legged Play Off between Baggiebob(BBB) and neonfoxinthebox. The usual rules apply, but in the case of the match ending in a tie, we will have a tie breaker. That will be to predict the total number of corners in the two Sheffield United matches matches during the two legs. The closest wins. If it's still a tie, the winner will be the one who scored most points over the season, which in that case would be neonfoxinthebox.
Final Division One table for 2024:
- St Charles Owl = 364 pts
- Lord Snooty = 349 pts
- themaclad = 340 pts
- jjamez = 330 pts
- Baggiebob(BBB) = 302 pts
- ritchiebaby = 291 pts
Final Division Two table for 2024:
- SHEP_HTAFC = 334 pts
- neonfoxinthebox = 323 pts
- Devongone = 319 pts
- theo_luddite = 307 pts
- WakeyTerrier = 253 pts
- Amelia Chaffinch = 235 pts
Saturday 11th May:
Premier League:
Fulham v Manchester City (12:30)
AFC Bournemouth v Brentford
Everton v Sheffield United
Newcastle United v Brighton & Hove Albion
Tottenham Hotspur v Burnley
West Ham United v Luton Town
Wolverhampton Wanderers v Crystal Palace
Nottingham Forest v Chelsea (17:30)
Sunday 12th May:
Manchester United v Arsenal (16:30)
Championship Play Offs 1st legs:
Sunday 12th May:
Norwich City v Leeds United (12:00)
West Bromwich Albion v Southampton (14:15)
*** scores for ***
*** scores for ***
*** scores for ***
Tie breaker:
Total number of corners in the two Sheffield United matches (against Everton away and Spurs at home) = ??
|
|
|
Ross County v Hibs - Saturday 4 May |
Posted by: ritchiebaby - 03-05-2024, 23:16 - Forum: Hibernian
- Replies (8)
|
 |
Hibs face another long trip north to face a Ross County side still desperate for points to lift themselves out of the Play-off spot. The last time Hibs travelled that far north, they dominated the game and were looking good for long spells, but still managed to lose a goal deep into added time to finish 2-2.
Last week against St Johnstone we also lost a late goal after dominating the game, so it's clear where our problems lie. We are easily good enough to get the win, but it is Hibs we're talking about, so you just never know. The likes of Simon Murray will try to run our defence off their feet and Ross Laidlaw at the other end will play an important part too.
Monty on the game
"They’re a team that’s been fighting and scrapping for a number of weeks. You saw their result against Rangers and in their day they’re a good team. They have some strong players, so it’s important we give them respect, but we have to play the way we play. Disappointingly last time against them an incident at the end of the game cost us two points. We have to look at ourselves for that, but we also got an apology after, which doesn’t matter. We have to go back there tomorrow and take all three points."
|
|
|
WBA vs Preston - Match Thread |
Posted by: Ska'dForLife-WBA - 03-05-2024, 19:43 - Forum: West Bromwich Albion
- Replies (17)
|
 |
I feel it's a point worth making, irrespective of what happens for the remainder of this season, that in August many of us were contemplating the strong possibility of a relegation struggle with a threadbare squad and an owner who no longer cared what division we ended up in, whose financial dealings and political connections libel law dissuades me from even commenting on. That we've instead sustained a promotion charge and embarked on a new era of ownership is a credit to everyone at the club, and hopefully we'll have even better to look forward to around the corner.
If that all sounds a bit like making excuses in advance, then it shouldn't. It's true that our forward momentum has evaporated at exactly the wrong time, and we've won our final league match of the season only once in the last fifteen years (vs Barnsley two years ago), but equally, this is the first time we've lost three in a row under Corberan, and we haven't lost four on the bounce outside the top flight at any point in the 21st century. Barring any Arbroath vs Bon Accord shenanigans down at Home Park, a draw tomorrow is all we need to make the playoffs, and with all due respect to Preston (who've often been stiff opposition for us both home and away in the past), if we can't manage a point against them in our most important match of the season when they're already on a losing streak, then we simply don't deserve a playoff place this time round.
If we can make it across the line, that alone will be an improvement on last year's mid-table mediocrity and something Corberan and Shilen Patel can (all being well) build upon with regards to recruitment and the general image of the club. If we somehow manage to choke at this final hurdle, I'll hardly be happy about it, but I've also seen much worse from the Baggies in my time. Just get out there, give us a game of football, and let the result take care of itself.
|
|
|
The Town are going up - Ipswich, obviously. |
Posted by: Lord Snooty - 01-05-2024, 21:22 - Forum: Huddersfield Town
- Replies (24)
|
 |
Ipswich Town v Huddersfield Town
The Sky Bet Championship
Saturday May 4th - 12:30 ko
at Portman Road
![[Image: GyMJnoM.jpeg]](https://i.imgur.com/GyMJnoM.jpeg)
Huddersfield Town travel to Ipswich to the Alf Ramsey Arena on Saturday lunchtime for a game of football.
After Tuesday night's victory away at Coventry, the Tractor Boyz only need a point to gain automatic promotion to the land of milk and honey, also know as the Premier League. A bit of a poisoned chalice maybe, but once you've got to this position, you have to give it a go. Remember 2017 and how excited we were? Well, that's what the Ipswich fans are having now. They just don't know what evils lie ahead.
It's been 22 years since they've been there and have more recently been a League One side. They were relegated in 2019 and didn't get back up again until this time last year. They clinched promotion with a 6-0 win over Exeter City.
Six-nil? Hold my beer!
The game is live on Sky Sports and we will be just a footnote in the coverage. We'll be expected to roll over and let them win easily. And that might well be how it pans out, but we must approach the game professionally and do the job for our noisy neighbours.
Yeah right!
Will we even have Andre Breitenreiter in charge after all the speculation this week? Who knows? Who even cares? The season's gone. We've been relegated. Let's get it over with.
Tickets:
UPPER TIER
Adults - £34
Over-65s - £27
Under 23s - £20
Under 19s - £12
LOWER TIER
Adults - £30
Over-65s - £24
Under 23s - £19
Under 19s - £11
FREE COACH TRAVEL
Town supporters making the final journey with us to Ipswich can benefit from free coach travel to the game! Wanting to see as many Terriers as possible with us on the road, the Club has committed to covering the cost of ten coaches.
Seats are strictly one per supporter and you must have a valid match ticket in order to join us, with places available on a first-come first-served basis. Our full away travel terms and conditions are available below.
Please note: Under 16s must be accompanied by an adult on the same coach.
TRAVEL INFORMATION
Our official travel coaches will depart from St. Andrew's Car Park at 6am on match day (Saturday 4 May).
Head to Head
Ipswich lead the head to head with 22 wins to Town's 15, with 9 draws.
I covered all this in the thread for the home game back in September, so if you want to go and have a look, click the link below. It also has the Brief History of Ipswich Town, the Club Connections article on Marcus Stewart and a bit about their manager, Kieran McKenna.
https://www.sportsbabble.co.uk/showthread.php?tid=12553
That match at the JSS this season ended in a draw, another one where we couldn't hold on to a one-nil lead. Ipswich were in second place in the Championship at the time, the 30th of September (we were 17th), and this point took them above Leicester City who had been top all season, but regained that lead the following day.
We had looked good for all three points, in a game I didn't attend, can't remember why, but by all accounts was one of our best performances of the season. Delano Burgzorg gave us the lead in the 61st minute, before doing his party trick of balancing on the ball for no apparent reason. Before the inevitable happened and Brandon Williams headed in a late equaliser to give the Tractor Boyz a share of the points.
Quote:Huddersfield Town manager Darren Moore:
"It was a good, solid performance. We set out our stall early in the game by disrupting Ipswich from settling into their play and their rhythm.
"And then we got the ball into real threatening areas of the pitch; we could have capitalised more with the chances we created.
"We had the more clear-cut chances in the afternoon and I was pleased when we got the goal because we deserved to get our noses in front.
"I'd have liked to have seen us extend that because the game was disrupted by the substitutions we were forced to make.
"When Ipswich did score, we didn't allow them to go on and win the game, which was pleasing because it would've been a travesty from our point of view."
Ipswich Town manager Kieran McKenna:
"We need to stay humble and keep learning. There's parts of the team and the group that are relatively inexperienced at this level and we'll learn lots from a game like today.
"We're in the middle of a busy schedule and against a motivated team with a new manager and that makes for an excited crowd and energetic group of players.
"It was a tough-fought and competitive game; we had to fight really hard for the point and we can take positives in the way that we kept going.
"We were the team at the end of the game that looked likelier to get the winning goal and that shows good resilience and ambition from the group.
"It's a good point because we didn't play anywhere near our best but we just need to keep focusing on our performances."
![[Image: 9ABl1YL.jpeg]](https://i.imgur.com/9ABl1YL.jpeg)
Snooty's season review and a look ahead to life in League One:
It's been rubbish, hasn't it?!
Sure has!
It started off well enough. Some massive pre season victories against Bodmin, Liskeard, Stockport and SC Heerenveen gave us all hope of a season of at least mid table comfort with Neil Warnock and Ronnie Jepson steering the good ship Huddersfield Town into calmer waters than of late.
But as soon as the real thing got under way, mistakes started happening. A 3-1 defeat away at Plymouth, in which Warnock said that we had to work hard to lose that one, was a sign of things to come. That was followed by a Cup defeat at home to Boro and then a home loss to champions in waiting, Leicester City. Signs were encouraging despite the three defeats.
The first of the 18 draws of 23/24 came up at Middlesbrough, but that was followed by a comedy of errors at home against Norwich.
It was at this point, after four matches under the leadership of the great manager who had saved us from relegation the season before and was persuaded to stay on by thousands of fans at the last home game of that campaign, that the club's heirarchy decided to let him go. Immediately after a brilliant 2-1 win down at West Brom, Warnock was told of the Board's decision. And despite backing that up with a win over Rotherham and a draw at home to Stoke, they stuck with that decision.
We were in 16th place and rising when Neil and Ronnie left the building. What came next was a disgrace. Neil kept saying that they hadn't told him who he was being replaced with. Must be somebody big. A name that would make people sit up and gasp in amazement that little old Huddersfield Town had managed to acquire the services of.
The way Jake Edwards spoke of the man at the press conference, I genuinely think he thought we had done such a thing. But the name of Darren Moore was announced and nobody, nobody at all, was impressed.
His era started badly, got slightly better with a late equaliser at Coventry, reached a peak on Boxing Day at home to Blackburn, but the inevitable happened shortly after the debacle at Loftus Road, where we failed to hold on to a lead, not for the first time, and ended with a 1-1 draw.
Then the fun began and the real Huddersfield Town finally woke up. Under the leadership of Jon Worthington as caretaker manager, we played with freedom. A 4-0 win at home to the Wednesday moved us 8 points above the Owls. Surely they would never catch us now. 
That was followed by the best match of the season, down at Southampton. We lost it obviously, but playing in the true Terrier Spirit, having raced into a 3-1 lead, we just couldn't match the quality of their substitutes and eventually lost 5-3.
Next up came a Wednesday night win at home to Sunderland, completing our only double of the season. And then the only defeat of the Worthy games, a 2-1 defeat at home to Hull. By that time we could say, meet the new boss.
Same as the old boss? Too bloody right.
In came Andre Breitenreiter, slowing the game down again with boring, boring football. Just like Mr Moore, he got lucky in his first game with two late goals from supersub Danny Ward, with other supersub Tom Edwards getting an assist for the winner. A fortunate victory.
He soon lost the dressing room. For whatever reason, the lads just weren't up to the job of playing out of position, playing without strikers or even playing with enough discipline to see out a win without giving away late penalties.
The inevitable happened last week against fellow relegation candidates Birmingham City, but the damage had already been done. Not that hammering at home to Swansea. The damage was done in August and we never recovered.
So where do we go from here? (Is it down to the lake I fear?)
Not quite, but we are going to a few places that we haven't been to for a while. Coming up from League Two will be Stockport, Mansfield and Wrexham, with all their Netflix n chill stuff. Some Town fans won't have seen us play those three, it's been that long. Not played Stockport since a 6-0 win at Edgeley Park in 2010. Wrexham haven't been on our fixture list since 04/05 and apart from a League Cup game in 2006, we haven't played the Stags since that memorable 0-0 draw in Cardiff in 2004.
One of MK Dons, Donny Rovers, Crewe Alexandra and Creepy Crawley Town will also be making the trip to the John Smith's Stadium. If it is Crawley, it'll be our first ever meeting.
There will be a few familiar club crests appearing on the scoreboard, teams we've played in the Championship recently like Wigan, Charlton and Reading and of course Rotherham. Maybe Barnsley if they don't win the Play Offs. And Bolton, their semi final opponents. The other two Play Off players are Oxford United and those posh twats from Peterborough.
Also definitely on our league schedule are Lincoln, Stevenage, Leyton Orient, Exeter, Northampton, Bristol Rovers, Cambridge, Shrewsbury and Burton Albion. Names there that should any of them come away from the McAlpharm with any points at all, will have Town fans gnashing their teeth in anger.
Wycombe Wanderers are still in League One, as are Blackpool. Always gets the young 'uns excited that one.
Which games are you all looking forward to? I fancy a trip to Wrexham to have a gawp at the Leigh Richmond Roose memorial. Amelia fancies Stevenage. I'll let her explain that one.
Tuesday night's line up away at Coventry:
31, V. Hladký
40, A. Tuanzebe
3, L. Davis
25, M. Luongo
4, G. Edmundson
15, C. Burgess
7, W. Burns
5, Sam Morsy ©
24, K. Moore
20, O. Hutchinson
33, N. Broadhead
Subs:
1, C. Walton
6, L. Woolfenden
10, C. Chaplin
14, J. Taylor
19, K. Jackson
21, J. Sarmiento
27, G. Hirst
28, L. Travis
30, C. Humphreys
Recent form - last 6 matches:
Town 1-1 Birmingham
Town 0-4 Swansea
Bristol C 1-1 Town
PNE 4-1 Town
Town 1-0 Millwall
Stoke 1-1 Town
Coventry 1-2 Ipswich
Hull 3-3 Ipswich
Ipswich 1-1 Boro
Ipswich 0-0 Watford
Norwich 1-0 Ipswich
Ipswich 3-2 Southampton
Town are 23rd in the Championship table with 45 points. Ipswich are 2nd with 93.
Leading scorers:
Terrierz:
Michal Helik (9)
Delano Burgzorg (7)
Josh Koroma (6)
Tractorz:
Conor Chaplin (13)
Nathan Broadhead (13)
Omari Hutchinson (10)
Anagrams of the Huddersfield Town 2023/24 season:
- Ponced Berries
- Lorenzo Drug Bag
- Aberdeen Tin Terrier
- Mod Steward
- Yeah Sheryl
- Bile News
- Weak Arsed DJ
- Rear Doormen
- Pesioner Jon
- Geneva Link
|
|
|
West Bromwich Albion The Hawthorns 4/5/2024 |
Posted by: themaclad - 01-05-2024, 15:27 - Forum: Preston North End
- Replies (6)
|
 |
West Bromwich Albion v Preston North End
4 May 2024 12.30 hrs
https://www.wba.co.uk/
https://westbrom.com/forum/index.php
https://www.sportsbabble.co.uk/forumdisplay.php?fid=21
LAST TIME OUT
![[Image: Screenshot-2024-05-01-141425.png]](https://i.ibb.co/XtFKqW8/Screenshot-2024-05-01-141425.png)
FORM GUIDE
WBA 5 PNE 5
A meeting of sides lacking a bit of form although in our case we appear to have given up
IN FORM
![[Image: Screenshot-2024-05-01-141358.png]](https://i.ibb.co/yVbyGDJ/Screenshot-2024-05-01-141358.png)
CULTURE
CAN ONLY BE
![[Image: latest?cb=20130404080502]](https://static.wikia.nocookie.net/aufwiedersehenpet/images/e/e8/Barry.jpg/revision/latest?cb=20130404080502)
West Bromwich Building Society, commonly referred to as the West Brom, is the seventh largest building society in the UK, with its headquarters in West Bromwich, England. It is a member of the Building Societies Association. At March 2023, the Society had total assets of more than £5 billion.[2]
The Society was formed in 1849 and remained a very local society for over a 100 years, only adding a few local branches in the 1930s.
The appointment of Frank Dilkes as managing director in 1965 led to substantial regional expansion and within little more than a decade there were 67 branches. Later financial expansion through extended use of wholesale funds, and lending on commercial property meant that the Society became over-extended; losses were incurred, its credit rating was downgraded and in 2009 there was speculation about its future.
A back to basics programme saw a reduction in wholesale funding, a gradual withdrawal from commercial property lending, and a reduction in its cost base. Operating out of 36 branches, with 95% of its lending for home ownership, the Society is now soundly based and 7th by size in the industry.
History
A local Society
The meeting to propose a building society for West Bromwich was held on 23 April 1849 at the Paradise Street Methodist Meeting rooms. It is believed that the West Bromwich Permanent Building Society formally opened for business later that year. There were 20 men at that first meeting, all steeped in Methodism, and comprised local tradesmen and skilled craftsmen -retailers, a boat builder, boot maker, blacksmith, glass cutter. One of these was appointed the first Secretary, James Sharp, a grocer. A couple of years later, hardly any of the original names were mentioned again and the trustees were drawn more from the middle class. The only figure of note in those early years was Reuben Farley, a prominent industrialist and later the first Mayor of West Bromwich. He was not one of the original 20 but he signed the earliest remaining accounts (1851) and from 1858 to his retirement in 1897 signed the accounts as president.[3]
The aims of the Society were no different to those of other early societies. Intentions to enable the working man to be his own landlord and "enjoy the privilege of exercising the franchise" were expressed in the 1852 annual report. The extension of the franchise was a common theme of the early building societies and reflected the aims of the Freehold Land Societies. Lending was only for houses and not for building developers or commercial property The Society confined itself to its immediate locality and growth was often slow – between 1879 and 1909 assets grew from £170,000 to no more than £209,000.[3]
The Inter-war Years
The inter-war period saw more substantial growth in assets, from £0.3m to £3.8m in 1939. This reflected the growth of West Bromwich town, some modest geographical movement and, of course, the substantial increase in home ownership. The Society dominated West Bromwich; in 1928 75% of all the town's mortgages were with the Society, accounting for half of its total business. Most of the remainder was in Birmingham, Smethwick and neighboring small towns. In that year the Society opened its first branches, in Smethwick, Oldbury and Tipton; they all proved profitable so in 1931 a further branch was opened in Handsworth. This was hardly an ambitious geographical move – it was done partly because other societies were coming to Birmingham and getting nearer to West Bromwich. The four branches only opened part time for three days a week; indeed, a 1961 advert had the branches still opening on this part-time basis.[3]
The Dilkes years – a regional Society
The change from a successful but local building society into a major regional society was dramatic, and down to one man. Frank Dilkes was appointed Assistant Manager in 1958, General Manager in 1961 and managing director in 1965. Once he became managing director, he was able to convince the Board to start an expansion policy. This including modernizing the administration, looking for a purpose-built HQ and, above all, opening branches. The first step was to convert the four sub-offices to full branches. Within three years Dilkes strengthened the position in the Midlands by opening nine branches, from Wolverhampton across to Leicester and Coventry. Further afield, branches were opened in Chester and Manchester supported by collecting offices as far afield as Norwich, Sunderland and Blackpool. At the end of 1971 there were 37 branches and by 1978 this had increased to 67 branches covering the Midlands, Shropshire and North Wales, also Hampshire and Bedfordshire. The Society ranked as the 25th by size with over £100m of assets. The West Bromwich also began to diversify, offering loans for car purchase and in the late 1980s a full range of insurance products. When Dilkes retired as managing director in 1983, the Society had £338m of assets and 90 branches.[3]
Crisis
Rising house prices, a substantial increase in its commercial property lending, supported by an increase in wholesale funding took the West Bromwich's assets up to a peak of £9.6 billion in 2008. That date marked the start of the international financial collapse epitomized in the building society movement by the failure of the Northern Rock. The rising cost of wholesale funding combined with asset provisions meant the Society incurred a £49m pre-tax loss.[4] The Society's credit rating was downgraded and there was speculation over its independent future.[5] The West Bromwich was forced to move away from its previous diversification programme and return to the "more tried and trusted" building society model with its clear focus on retail savings and prime residential mortgages. The "back to basics" approach included a reduction in wholesale funding, a withdrawal from commercial lending and a planned reduction of at least a quarter of the Society's cost base.[4]
Recovery
Wholesale funding fell from 32% in 2008 to 11% in 2010 and the asset base was reduced more than 40% to £5.6 billion in 2015, a level broadly maintained since. However, the legacy of the commercial property lending, which incurred substantial losses, took longer to unwind; it took a decade to reduce lending of £1.7 billion in 2009 down to £400m. In his 2020 Annual Report, the Chief Executive reflected that "over the last decade the Society has been on a simple mission…to repair our business model and transform the balance sheet to be reflective of what a building society should be - an organisation that lends savers’ money for the purpose of putting people in homes in a way that is safe and responsible." It had become a more compact Society, still 7th by size in the industry, with 36 branches, 95% of its lending for home ownership, and with a portfolio of rental residential property.[4]
AUF being repeated on ITV 4 at the moment
|
|
|
|