AGM

I've been pondering what my position should be in regards to the AGM and specifically the special resolution to amend the club constitution which will be put to the vote at it. Its a tough choice and I think George Dobell in the Post has summed it up pretty well as a hobson's choice.

The clause in question in the "new rules" is 3.2.2. If I am reading it right it gives the club the ability to take out up to £20m of debt at an interest rate of no more that base rate +3% for unsecured debt (or such greater sum or rate as the committee shall determine from time to time). I believe (but I am no legal expert) that the committee would have to amend the rules again, if they want to go above the £20m limit, and that that particular note about "or such greater sum.." only gives them the power to easily do so.

The clause in itself is neither unusual or anything particularly untoward, the only issue that arises is whether the membership trusts the current administration with these extra powers. I think for the sake of the future of the club as one of the premier international grounds on the county circuit the membership will have to vote for this amendment. I don't necessarily believe the scare stories that Edgbaston is currently in danger of losing international cricket altogether, however I do feel the ground needs improvement and the increase in borrowing power is probably vital to achieve this.

Given the way that voting works on this amendment, in that a 2/3 majority is needed to carry the motion, (with abstentions not counting towards the total number of votes) means the only realistic way the motion will not be carried is by an organised campaign against it. I have not heard of such a campaign and I don't believe that any last minute rallying call at the meeting itself could succeed; most people will have made their minds up before attending.

In a way the timing of the AGM could not have been better for the management. The events of last season and the ill will they generated among the members has been partially swept away by the optimism of a new coaching team. We have also not seen how this new set-up will deliver, so members are still in a sort of extended honeymoon period. The new season is also just around the corner and people are probably believing anything is possible. I would venture a guess that the overall "morale" among members is probably higher than it has been for 6-9 months. And this is good news for the chance of the motion passing.

The concern must remain however that the current leadership team at Edgbaston has not really delivered demonstrable success in anything it has tried to achieve so far, and the thought of £20m of debt is something none of the members will feel especially comfortable about. The voting decision remains one where there is no comfortable path for the members, faced with either slow decline or a gamble on the financial prudence of Mr Povey and his team, neither of which is especially appealing. Perhaps I am cautious having spoken to a friend who visited Elland Road at the weekend and reported on a crumbling stadium where they cannot afford to turn on the electronic scoreboard. I think however we have to make a leap of faith.

The Raggybear will either be voting "yes" or abstaining. I will not be voting against this motion as I do not believe that my vote would then be in the best interests of the club.

I am hopeful of attending the meeting in person, although I have a meeting in London, so will be in the unusual position of wearing a suit. I hope people don't mistake me for a member of the executive club.