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    #16
    Originally posted by Unregistered View Post
    They are not releasing company info for loans less than 150k
    Someone should tell that Walt Kane guy on NJ12 news be is a bulldog on consumer stuff. Some bad press would help the cause. Dont’t have a kid at any of the clubs who took the loans. Maybe my club took less than 150k but will never know

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      #17
      This is not going to end well for some of the clubs that took the PPP and told parents thanks for the spring dues. Even if they didn’t get PPP, parents didn’t get what they paid for...period. Lawsuits are being drafted.

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        #18
        Originally posted by Unregistered View Post
        This is not going to end well for some of the clubs that took the PPP and told parents thanks for the spring dues. Even if they didn’t get PPP, parents didn’t get what they paid for...period. Lawsuits are being drafted.
        It’s true, Princeton Soccer Academy, STA, ATS (16 Hanover Rd, Randolph, NJ), all received PPP money. If I looked harder, Wildcats and SDFC were probably there as subsidiaries too.

        The first 3 organizations all received between $150-300K. It’s right in the link from the SBA that someone provided in an earlier post. It’s a 26 MB, CSV file that’s downloaded as a Zip file and then opened with Excel.

        Crazy! No shame, no humility to then turn on parents like that!

        An embarrassment!

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          #19
          It is troubling.



          Originally posted by Unregistered View Post
          It’s true, Princeton Soccer Academy, STA, ATS (16 Hanover Rd, Randolph, NJ), all received PPP money. If I looked harder, Wildcats and SDFC were probably there as subsidiaries too.

          The first 3 organizations all received between $150-300K. It’s right in the link from the SBA that someone provided in an earlier post. It’s a 26 MB, CSV file that’s downloaded as a Zip file and then opened with Excel.

          Crazy! No shame, no humility to then turn on parents like that!

          An embarrassment!

          Comment


            #20
            Originally posted by Unregistered View Post
            You can download the spreadsheet directly through the SBA. https://news.google.com/articles/CAI...S&ceid=US%3Aen

            Here are examples - Cedar Stars took a loan of $150,000-$350,000. PSA = same.
            Such poor behaviour by these clubs....stunning what they can get away with.

            Comment


              #21
              Originally posted by Unregistered View Post
              We need to organize a parent zoom call and all hold our kids from participating until STA decides to credit next season or give refunds. No way we should let this fly! It’s BS! Slim!
              Great idea but do you have the balls to do it?

              Comment


                #22
                Originally posted by Unregistered View Post
                Such poor behaviour by these clubs....stunning what they can get away with.
                PSA, STA, ATS, all received PPP between $150-350k, we can look for SDFC and Wildcats too.
                Ridiculous!

                Comment


                  #23
                  Originally posted by Unregistered View Post
                  PSA, STA, ATS, all received PPP between $150-350k, we can look for SDFC and Wildcats too.
                  Ridiculous!
                  Why is this all ridiculous? If it keeps the clubs sustainable and prepared for another lockdown then it's prudent business? Clubs still have overheads such as rent and no one got full refunds from tournaments and leagues paid for?

                  I believe these clubs also provided online education throughout the lockdown.

                  Comment


                    #24
                    Originally posted by Unregistered View Post
                    Why is this all ridiculous? If it keeps the clubs sustainable and prepared for another lockdown then it's prudent business? Clubs still have overheads such as rent and no one got full refunds from tournaments and leagues paid for?

                    I believe these clubs also provided online education throughout the lockdown.

                    Wow. Only a coach or administrator would write this. The point is these clubs took loans to cover costs and sent emails out to the parents explaining why they can’t get refunds. One point being was they had to pay their employees etc.
                    Online education? Get the **** out of here with that. Yes, they offered zoom meetings. By in no way is that the same as in person training.

                    Comment


                      #25
                      Originally posted by Unregistered View Post
                      Why is this all ridiculous? If it keeps the clubs sustainable and prepared for another lockdown then it's prudent business? Clubs still have overheads such as rent and no one got full refunds from tournaments and leagues paid for?

                      I believe these clubs also provided online education throughout the lockdown.
                      No parent would pay that kind of money for any clubs online program during lockdown. Those loans were for business to stay afloat that needed the money for payroll due to lack of income. What income was lost to these clubs? They already had the spring money and some where even asking for next year. They can lay off coaches who could have filled unemployment. All the expenses any club had for that time should have been accounted for already with this years tuition. And don't sell anyone on fees for tournaments and leagues...Most if not all have refunded a portion and/or credits for the future. All while the clubs "froze tuition" to help out...Bull****! Ask for financial assistance for next year and see how that goes.

                      Comment


                        #26
                        Some good points here.


                        Originally posted by Unregistered View Post
                        No parent would pay that kind of money for any clubs online program during lockdown. Those loans were for business to stay afloat that needed the money for payroll due to lack of income. What income was lost to these clubs? They already had the spring money and some where even asking for next year. They can lay off coaches who could have filled unemployment. All the expenses any club had for that time should have been accounted for already with this years tuition. And don't sell anyone on fees for tournaments and leagues...Most if not all have refunded a portion and/or credits for the future. All while the clubs "froze tuition" to help out...Bull****! Ask for financial assistance for next year and see how that goes.

                        Comment


                          #27
                          Originally posted by Unregistered View Post
                          Why is this all ridiculous? If it keeps the clubs sustainable and prepared for another lockdown then it's prudent business? Clubs still have overheads such as rent and no one got full refunds from tournaments and leagues paid for?

                          I believe these clubs also provided online education throughout the lockdown.
                          Because the clubs collect their revenue for the year up front, usually by September and definitely by December. Their expenses for rent, salaries, etc are paid from that money and they don’t rely on any revenue stream in the spring.

                          The online education has no bearing on this topic. That is more about whether it provided a value that justified keeping player money.

                          Basically, Newman lied on his PPP applications citing the expenses he had through the spring but didn’t acknowledge or disclose the revenue had been collected earlier.

                          Comment


                            #28
                            Originally posted by Unregistered View Post
                            Why is this all ridiculous? If it keeps the clubs sustainable and prepared for another lockdown then it's prudent business? Clubs still have overheads such as rent and no one got full refunds from tournaments and leagues paid for?

                            I believe these clubs also provided online education throughout the lockdown.
                            PSA, STA, ATSC, and possibly SDFC and Wildcats are all run by the same organization or person: Newman.

                            That's one reason why it's ridiculous, another is what others mentioned before. They received upfront payment for the entire year, and provided nothing over the Spring.

                            They provided online education, ok, they employed some coaches through the Spring. Anything to maintain the activity and extract a reason for why parents with kids get little refund in return.

                            Comment


                              #29
                              Originally posted by Unregistered View Post
                              Why is this all ridiculous? If it keeps the clubs sustainable and prepared for another lockdown then it's prudent business? Clubs still have overheads such as rent and no one got full refunds from tournaments and leagues paid for?

                              I believe these clubs also provided online education throughout the lockdown.
                              Because its fraud....What does PPP stand for? We were told thats what our money was used for! You join the dots.

                              Comment


                                #30
                                https://www.sba.gov/partners/contrac...ud-waste-abuse

                                Link to info about how to report fraud to the SBA.

                                Comment

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