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Post by Curly Wurly on May 24, 2019 19:41:19 GMT
I’m not a shareholder, so I’m only cribbing information from the Gaschat thread: gaschat.co.uk/thread/14485/annual-lossPoints so far: • Loss just under 3.3 million for year to June 18 • Football receipts down 500k • Players staff costs up 600k • Match and ground costs up 350k • statement of support from Hani for at least 12 months from date of signing accounts
Interested to hear more from anyone that has received a copy
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Deleted
Joined: January 1970
Posts: 0
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Accounts
May 24, 2019 19:52:47 GMT
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Post by Deleted on May 24, 2019 19:52:47 GMT
I'm not sure those are entirely good.
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Post by a more piratey game on May 24, 2019 20:36:10 GMT
Ooh, those are bigger numbers than we expected?
Held back lest they influence ongoing negotiations?
'unsustainable' doesn't come close?
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Accounts
May 24, 2019 20:38:33 GMT
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Post by a more piratey game on May 24, 2019 20:38:33 GMT
Anyone know how big the (now almost annual) write-off in respect of stadium plans, consultants and other strategic fannying around is?
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Deleted
Joined: January 1970
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Post by Deleted on May 24, 2019 20:53:17 GMT
There's only one solution to these spiralling losses.
We need a bigger office, at least 100 miles away.
I thought that losses were supposed to reduce once all of the stuff relating to UWE had washed through the system?
Swiss will be along shortly with a proper analysis.
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GasMacc1
Les Bradd
Joined: May 2014
Posts: 1,423
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Post by GasMacc1 on May 24, 2019 21:02:26 GMT
Here's a summary of the past 5 years, to go some way towards putting the latest numbers into context.
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Post by Curly Wurly on May 24, 2019 21:14:12 GMT
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Deleted
Joined: January 1970
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Post by Deleted on May 24, 2019 21:39:59 GMT
I seem to remember a few years back that only Hereford made a profit, and they got relegated that season. If that's correct and not my memory failing, then 20 clubs not losing money sounds like an improvement?
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Post by droitwichgas on May 24, 2019 21:54:31 GMT
I seem to remember a few years back that only Hereford made a profit, and they got relegated that season. If that's correct and not my memory failing, then 20 clubs not losing money sounds like an improvement? I can assure being a localish club they certainly didn't make a profit, in fact like us they had a clown in charge, Keates?, who had no idea how to run a football club, if you look at The Times list only a handful of Div 1 clubs are running at similar losses, Southend, MK Dons & Scunny, the last two have wealthy English benefactors who are unlike to walk away, Southend still hoping to build a new ground. We're really up a creak w/o a paddle.
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Post by Curly Wurly on May 24, 2019 22:09:35 GMT
I seem to remember a few years back that only Hereford made a profit, and they got relegated that season. If that's correct and not my memory failing, then 20 clubs not losing money sounds like an improvement? You are correct in that Hereford FC (the phoenix club) have made profits for the last two years, but they were a bit of a financial basket case until United folded in 2014.
I found the graph below which suggests a fluctuation between 13-20% of EFL clubs making a profit over the last 4 financial years, compared with the vast majority of Premier League clubs.
What a state the game is in!
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Post by Curly Wurly on May 24, 2019 22:18:36 GMT
I seem to remember a few years back that only Hereford made a profit, and they got relegated that season. If that's correct and not my memory failing, then 20 clubs not losing money sounds like an improvement? I can assure being a localish club they certainly didn't make a profit, in fact like us they had a clown in charge, Keates?, who had no idea how to run a football club, if you look at The Times list only a handful of Div 1 clubs are running at similar losses, Southend, MK Dons & Scunny, the last two have wealthy English benefactors who are unlike to walk away, Southend still hoping to build a new ground. We're really up a creak w/o a paddle.
I actually think it is now 3 years running profits for Hereford with the 2018 accounts.
Meantime, Rovers' losses are increasing - I sense a year of austerity ahead.
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Deleted
Joined: January 1970
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Post by Deleted on May 24, 2019 22:31:36 GMT
I seem to remember a few years back that only Hereford made a profit, and they got relegated that season. If that's correct and not my memory failing, then 20 clubs not losing money sounds like an improvement? I can assure being a localish club they certainly didn't make a profit, in fact like us they had a clown in charge, Keates?, who had no idea how to run a football club, if you look at The Times list only a handful of Div 1 clubs are running at similar losses, Southend, MK Dons & Scunny, the last two have wealthy English benefactors who are unlike to walk away, Southend still hoping to build a new ground. We're really up a creak w/o a paddle. Bit busy right now, will check later what year it was with Hereford making a profit, but somewhere around 2006~2008 I think? Are Sainsbury's still messing around with Southend?
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irishrover
Global Moderator
Joined: June 2014
Posts: 3,372
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Post by irishrover on May 25, 2019 0:24:17 GMT
I seem to remember a few years back that only Hereford made a profit, and they got relegated that season. If that's correct and not my memory failing, then 20 clubs not losing money sounds like an improvement? It's quite hard to believe clubs are actually spending more within their means than they were but could FFP be forcing clubs to 'tighten up' their accounting a bit? Ie. There's more incentive to present the appearance of increased turnover if it effects how much you are allowed to spend? Just a theory - could be way out.
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Teigngas
Steve White
Joined: June 2014
Posts: 264
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Post by Teigngas on May 25, 2019 6:03:10 GMT
If I am reading it right, "Non recurring costs" of close to 2.3 million - the stadium fiasco? The upside is that assuming they are one off costs the figures would look more in line with what you would expect. Still not good though.
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Accounts
May 25, 2019 6:49:41 GMT
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Post by a more piratey game on May 25, 2019 6:49:41 GMT
If I am reading it right, "Non recurring costs" of close to 2.3 million - the stadium fiasco? The upside is that assuming they are one off costs the figures would look more in line with what you would expect. Still not good though. From memory, yes, that was all written off in the year ended June 17 So what created the even bigger loss in the year ended June 18? More stadium costs, which have now been written off? (I seem to remember that much of the £2.3m above had previously been capitalised, but was written off ib the first period/accounts under AQ ownership)
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Accounts
May 25, 2019 6:54:37 GMT
via mobile
Post by a more piratey game on May 25, 2019 6:54:37 GMT
From the above it seems the 'run rate' of operating losses was around £750k pa. The items identified in the first post above would seem to add £1.45m to this. So just another £1.1m to 'find'?
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trymer
Joined: November 2018
Posts: 1,421
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Post by trymer on May 25, 2019 7:18:20 GMT
Obviously there is no need for concern as we have been told many times on here that the owners are "very clever businessmen",so they must have a plan that most of us are too dense to understand.
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eppinggas
Administrator
Ian Alexander
Don't care
Joined: June 2014
Posts: 8,109
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Post by eppinggas on May 25, 2019 9:28:26 GMT
Here's a summary of the past 5 years, to go some way towards putting the latest numbers into context. Great work GassMacc1. Swiss - where are you?!? Even the few rose-tinted fools still left in the building can see this is shocking. Mind you, they are stupid enough to believe that these losses will just get paid by our 'charitable owners' out of their own pockets. Does the amount of money that BRFC owe Dwane Sports now exceed the value of the Memorial Stadium? A serious and very worrying question.
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GasMacc1
Les Bradd
Joined: May 2014
Posts: 1,423
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Post by GasMacc1 on May 25, 2019 9:59:48 GMT
Thanks, but I'm just the messenger! The work was done by an academic (forgotten his name*, but he often crops up in the media) at one of the Liverpool universities, I think. I copied it from facebook when it was posted a few months ago. . . . . . *Edit: It's Kieran Maguire.
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GasMacc1
Les Bradd
Joined: May 2014
Posts: 1,423
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Post by GasMacc1 on May 25, 2019 10:22:45 GMT
In League One, Peterborough made the most profit in the season to mid-2018. Blackburn, Charlton and Wigan had about 5x, 3x and 2x the losses incurred by Rovers. In this graph Rovers (and three other clubs) had yet to report 2018 results. (Click on the pic).
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