OVF feature: Port Vale announce £3.4m losses in latest company accounts

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Port Vale FC have filed their company accounts for the twelve months up to June 2023 which show the club made a near £3.4m loss during that period. The accounts can be viewed on the Companies House website and the headline figures are that the total losses for the year (ending June 2023) were £3,396,024 […]

The post Port Vale announce £3.4m losses in latest company accounts appeared first on onevalefan.co.uk.

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[TJHValiant]

Pretty grim reading. I must admit I am quite shocked. 

[Essex Vale]

Like TJH I am also shocked, to run up that amount of debt for the outcome we have delivered is not good.  I must exam the accounts in much more detail to get my head round it all

[Doha]

A 30% rise in employees in one year!?

How many would get made redundant because of the club's negligence in the last 3 transfer windows causing relegation to L2?

[Dipepa delight]

I'm not surprised they have lost that much to be honest .

We barely won many games since Jan 2023 .

I don't really understand it anyway but players managers and others have be paid .

The crowds are not big enough they never will be if the players do not perform and give folk reason to come .

So I take it Carol /Kevin have to put that shortfall in .

I wouldn't want own a football club .

There's too many people getting money for nothing .

I should imagine we losing money yearly at alarming rate .

Vale Park is a massive drain on resources but fair play to the owners for obviously putting money in to buy these under performing players. 

In future we need get in players who can win many games and win them well  so more come (fans)that is .

Like I say 3 .4 million in football terms is not a lot most clubs lose money left right and centre .

Never understood it though its a frightening amount if it was me on 30k a year to a football club I don't suspect it is 

Edited April 12 by Dipepa delight

[MBE]

16 minutes ago, Doha said:

A 30% rise in employees in one year!?

How many would get made redundant because of the club's negligence in the last 3 transfer windows causing relegation to L2?

Don't forget the from 115 staff in 2021 to 246 in 2022 !!!

Are we really spending money in the right way? Do we really have the right priorities as a club?

 

[londonvale]

If it's in there, did we not make money from the young players we sold? Although they may fall in 23-24 financial year? 

[JRC]

9 minutes ago, MBE said:

Don't forget the from 115 staff in 2021 to 246 in 2022 !!!

Are we really spending money in the right way? Do we really have the right priorities as a club?

 

I don't know about last year's changes but a lot of the previous changes were linked to insourcing catering because it was cheaper than subcontractors.  These are not high paid staff, mainly youngsters on part-time minimum wage contracts for match days.

[MBE]

1 hour ago, JRC said:

I don't know about last year's changes but a lot of the previous changes were linked to insourcing catering because it was cheaper than subcontractors.  These are not high paid staff, mainly youngsters on part-time minimum wage contracts for match days.

Yeh I get that in 1 year is a change but 2 years running is a bit much.

I personally think it’s bad business to bring services in house. You may have an operation saving cost but you can’t ramp up and down quickly depending on circumstances as you increase your employee liabilities fore redundancies etc. should the worse happen.

Vale are an outlier in the football league on this approach.

[JRC]

29 minutes ago, MBE said:

Yeh I get that in 1 year is a change but 2 years running is a bit much.

I personally think it’s bad business to bring services in house. You may have an operation saving cost but you can’t ramp up and down quickly depending on circumstances as you increase your employee liabilities fore redundancies etc. should the worse happen.

Vale are an outlier in the football league on this approach.

The money and hours they are on means redundancy isn't a big cost. Maybe 25 times 3 hours a year. For the most part they leave after 3 or 4 years when they've finished college. We aren't even talking tens of thousands in risk. I'm sure they'll use some agency labour to cover the larger away followings.

[MBE]

19 minutes ago, JRC said:

The money and hours they are on means redundancy isn't a big cost. Maybe 25 times 3 hours a year. For the most part they leave after 3 or 4 years when they've finished college. We aren't even talking tens of thousands in risk. I'm sure they'll use some agency labour to cover the larger away followings.

You don’t have any costs outsourcing ramping up or down your resources.

There is a reason we are an outlier in the EFL with this approach.