Club accounts

[MelbourneValiant]

Why aren't the FA doing something about this. If every team is losing millions chasing success while the Prem makes billions then something is seriously wrong with football. When the likes of Man City can buy a 100 players for the youth policy of which most will be cast aside instead of being blooded at a lower level, it smacks of pure greed. Football is shot, it is an awful industry. 

 

[Smallthorne clampet]

4 hours ago, ollyandpatch said:

Although I don't have any sort of accountancy qualifications the fact that we now pay 319 people instead of 79 jumps out at me ! Some will be minimum wage and some will be well paid, but an average of say 25k a year equates to £6 million !

 

Be lots of casual and part time staff in there , but even so , if you are losing money , perhaps reducing staff might be the better option .

[Fosse69]

22 minutes ago, MelbourneValiant said:

Why aren't the FA doing something about this. If every team is losing millions chasing success while the Prem makes billions then something is seriously wrong with football. When the likes of Man City can buy a 100 players for the youth policy of which most will be cast aside instead of being blooded at a lower level, it smacks of pure greed. Football is shot, it is an awful industry. 

 

Dont think the FA can do  much with the Prem, it would take an Independent authority/ Govt to limit player wages, maybe UEFA. Foreign owners, and International TV money  rule the roost. Maybe some form of taxation to divert money to lower leagues. 

[Smallthorne clampet]

1 hour ago, JoeB2 said:

This is just modern football. Nearly every single club loses money, every season, and has to be subsidised by an owner.

3.4m is a larger loss than what most of the other clubs saw who finished in the bottom half of League 1 in 22/23.

The league was effectively split in two with 3M+ loss finishing top half and <3M loss finishing bottom half - bar us and Oxford, who lost 6m.

Its clear that mistakes have been made, but it’s also clear that even if we’d been more efficient with spending we are likely to have lost £2m just staying in the division.

I think it’s daft to understate that not many folk would be happy losing 3m just to keep Port Vale in League 1 - whilst wrongs need to be righted we’re still very lucky that Carol is effectively spending her kid’s inheritance covering our losses.

The money spent is a loan , is this interest free ? Also anybody who wants to buy the club is looking at 10 million quid !

[TJHValiant]

32 minutes ago, MelbourneValiant said:

Why aren't the FA doing something about this. If every team is losing millions chasing success while the Prem makes billions then something is seriously wrong with football. When the likes of Man City can buy a 100 players for the youth policy of which most will be cast aside instead of being blooded at a lower level, it smacks of pure greed. Football is shot, it is an awful industry. 

 

Yet it is an industry where the workers take home big wages. Even in league 2. Where else would uneducated men like Ryan Loft get £3,000 + a week for being awful? 
 

On Wednesday I spent £27 plus programme and food to watch what was an evening of non entertainment. I can’t think of any other circumstance with life where I would spend that sort of money for nothing in return, let alone a whole season in doing it. 

[JoeB2]

3 minutes ago, Smallthorne clampet said:

The money spent is a loan , is this interest free ? Also anybody who wants to buy the club is looking at 10 million quid !

Carol knows she’s never seeing that money again. 

[TJHValiant]

3 minutes ago, Smallthorne clampet said:

The money spent is a loan , is this interest free ? Also anybody who wants to buy the club is looking at 10 million quid !

It isn’t. One such loan is one taken out by Barclays against the club. 

[Smallthorne clampet]

8 minutes ago, TJHValiant said:

It isn’t. One such loan is one taken out by Barclays against the club. 

What does that mean ?

[TJHValiant]

Just now, Smallthorne clampet said:

What does that mean ?

When I say Barclays I mean with Barclays by the owners..

[Smallthorne clampet]

10 minutes ago, JoeB2 said:

Carol knows she’s never seeing that money again. 

If thats the case , the fair play to her .

[Walka003]

Look at the loans taken out, then look at the interest. They are against the club, not personal expenditure by Carol. 

All loans too carol and or related companies are interest free, according to the notes. So none of the losses relate to interest owed to Carol or her kids.

[werstayinup]

3 hours ago, Fosse69 said:

They produce a lot more players than we do. They make a lot more out of player sales than we do. £70M over the last 20 years. Debt can be on infrastructure, borrowing money to buy players is a risky business. Staying in the Champ is not easy, only Ipswich are safe in their first season back. Nor is staying in L1 easy either.

Sent from my SM-A715F using onevalefan mobile app
 

According to Carol all of the board agreed that any transfer fees the majority will go back into the playing side,so if we manage to drag in any big sell ons from the young uns sold or fees for any of our players in the future,then we could follow the Peterborough model i guess

[JoeB2]

41 minutes ago, werstayinup said:

According to Carol all of the board agreed that any transfer fees the majority will go back into the playing side,so if we manage to drag in any big sell ons from the young uns sold or fees for any of our players in the future,then we could follow the Peterborough model i guess

It would take a decade to get the model of Peterborough. They’ve been doing it nearly 20 years - remember George Boyd, Aaron McClean, and Craig Mackail-Smith?

We have to face facts as a football club that, with our attendances and revenue, we are unlikely to consistently challenge at the top end of League 1 unless someone is daft enough to spend 4-5m more a year than we make, without any guarantee of success. It’s even less unlikely when more loss is incurred via infrastructural investment instead of the first-team budget. 

It’s sad, it’s depressing, but it’s football. Our long-term future is guaranteed under Carol and this season need only be a step back after several steps forward. Whether we’re in League 1 or 2, I imagine she’s learned a lot.

[Walka003]

I'd echo Joe's point above. The numbers look scary, but it's not out of the ordinary. Clubs with positive balance sheets are very much in the minority. As long as someone is willing and able to prop you up, it's basically the route you have to take.

[Nippy Naylor]

5 hours ago, MelbourneValiant said:

What on earth has this cash been spaffed on?

Championship ready facilities , exec boxes paying off managers, coaches, fraudcrofts of this world and basically employing too many people at the football club throw all that into the mix it's no wonder there's a load of money gone down the swanny 

Bring back Colin Garlick 

Because at the moment it seems the people who are the custodians of the club haven't got a bloody clue 😬