fernandopartridge

Well-Known Member
Dec 9, 2011
36,105
37,491
313
The club's accounts are due tomorrow for year ending June 23.

I reckon a loss of £7m ish again.

Sent from my Pixel 7 using Tapatalk
 

ccfcchris

Well-Known Member
Sep 3, 2011
1,648
1,397
213
The club's accounts are due tomorrow for year ending June 23.

I reckon a loss of £7m ish again.

Sent from my Pixel 7 using Tapatalk
I would hope it's significantly better than that considering we're supposed to be a well-run club living within our means.
 

hill83

Well-Known Member
Sep 15, 2008
20,715
32,554
363
Coventry
I would hope it's significantly better than that considering we're supposed to be a well-run club living within our means.

That’s not an option though tbf

Live within our means and we might as well call it a day
 

ccfcchris

Well-Known Member
Sep 3, 2011
1,648
1,397
213
That’s not an option though tbf

Live within our means and we might as well call it a day
I tend to agree but with all the increased revenue and record transfer money it would be nice if we could be a little closer to break even than a £7m loss.
 
  • Like
Reactions: hill83

wingy

Well-Known Member
Jul 9, 2011
35,111
9,050
263
Endangered a player,f**king hell the vageries of var and elite football.
 

bigfatronssba

Well-Known Member
Apr 20, 2013
6,747
2,617
213
Its going to be covering the period of the whole pitch fiasco, so I don't imagine it will look good
 

mmttww

Well-Known Member
Jan 22, 2014
2,461
3,768
213
Endangered a player,f**king hell the vageries of var and elite football.

Some good 'Wrong Thread' content tonight.

See Ya Do Not Want GIF by reactionseditor
 
  • Haha
Reactions: ccfcchris and wingy

SBAndy

Well-Known Member
Mar 20, 2011
4,846
5,009
313
Will likely be pretty rank reading. Clearly the activity since will have softened the blow somewhat and it’d be interesting to see what the notes are around that.
 

JimmyHillsbeard

Well-Known Member
Feb 21, 2013
2,257
2,244
213
Surely the accounts will be softened a bit by play off ticket sales and a bumper set of replica kits (at non-reduced prices) ahead of Wembley
 
  • Like
Reactions: skybluegod

CCFCSteve

Well-Known Member
Aug 11, 2011
7,604
6,160
263
Not sure they’ll show too much other than maybe what a mess the club was in before king took over. As FP suggests, all the positive financial stuff, apart from play off run, took place after end of financial year if it’s May 23
 
  • Like
Reactions: shmmeee

Danceswithhorses

Well-Known Member
Mar 26, 2011
2,774
1,573
213
Coventry
Not sure they’ll show too much other than maybe what a mess the club was in before king took over. As FP suggests, all the positive financial stuff, apart from play off run, took place after end of financial year if it’s May 23
Yes, accounts for the y/e 31 May 24 will be fascinating, and will be interesting to compare y/e 31 May 23
 

EalingSB

Well-Known Member
Dec 26, 2012
1,085
1,412
163
Coventry City Football Club has published the latest set of accounts for the year ended 31 May, 2023.

The accounts for Coventry City Football Club Limited were filed with Companies House on Thursday.

The period of the accounts includes the 2022/23 season when the Sky Blues reached the EFL Championship Play-Off Final and when Doug King purchased the Football Club.

At the point of acquisition of 100% of the Club in late January 2023, outstanding club debt was converted into equity leaving the Club debt free at that point. This restructure ensured that the Club avoided incurring significant interest and management charges as Doug King confirmed that future funding would be free of interest. This move significantly improves the long term financial strength and sustainability of the Club.

The Club also reverted back to its historical name of Coventry City Football Club Limited.

The Club’s overall loss after tax decreased to £4.715m in 22/23, down from £6.712m in 21/22.

The Sky Blues’ turnover increased by £2.282m to £20.369m – this was mainly due to the Club reaching the Play-Offs and Play-Off Final combined with the decision to bring the retail operation in-house.

Administrative expenses increased from £20.542m in 2022 to £23.602m in 2023 – the majority of this increase being due to increased player wages, alongside a £318k asset write off related to the replacement of one of the training pitches at Ryton.

The profit on the sale of player registrations increased from £494k to £2.368m in 22/23, this being largely due to the sale of Dom Hyam to Blackburn Rovers in August 2022.

During the accounting period, a new five-year licence agreement was signed by the Club to continue to play at its home the Coventry Building Society Arena. The Club also invested over £1m in a new pitch that was installed at the venue in the Summer of 2023. This transformed the playing surface and put to rest any future pitch issues, ensuring that the suspended points deduction still hanging over the Club until the end of the 23/24 season (after the 2022 Commonwealth Games pitch debacle) would be avoided.

Significant Investment has also subsequently been made into the Club’s Ryton Training Ground, with two new 4G Desso pitches installed (mirroring the Coventry Building Society Arena) and an ongoing total revamp of the wider site’s infrastructure. This initial phase of upgrading the facility certainly helped to attract better quality players to the Club during the summer of 2023 and the next phase will focus upon a significant upgrade of the building itself in the coming years.

Additional investment has also been made to the Coventry Building Society Arena (including dressing rooms), to the Club’s new retail operations and to other areas to improve the matchday experience for fans.

There has also been further improvements made to the playing squad after this accounting period. External funding alongside transfer fees received for stand out players such as Viktor Gyokeres and Gustavo Hamer in the summer of 2023 have been invested to acquire many new high-quality players, significantly improving the depth of the squad, and allowing the club to rely far less on loan players than previously.

This sets the foundations for future success and to fulfil the Club’s intentions to reach the EFL play-offs at least three times in the next five years and ultimately to re-join the Premier

Owner Doug King said:

“We are pleased to share the Accounts for the year end 31st May 2023.”

“These accounts are the final accounts of the previous owners of the Club, but the actions since the January 2023 takeover demonstrate that a new era of this great Club is just beginning”.

"Our goal is to reach the Premier League in a sustainable way, improving the operating performance of the Club each year. We will also upgrade our facilities that have been neglected for too long and must reflect our new ambitions”.
 

Evo1883

Well-Known Member
May 25, 2013
32,613
36,084
313
Coventry
Am I right in thinking it shows the debt has been wiped ( liabilities ) from 34 million to now 5 ..
 

The CableGuy

Well-Known Member
Feb 5, 2011
2,622
1,059
113
The Sky Blues’ turnover increased by £2.282m to £20.369m – this was mainly due to the Club reaching the Play-Offs and Play-Off Final combined with the decision to bring the retail operation in-house.
(y)
 

bigfatronssba

Well-Known Member
Apr 20, 2013
6,747
2,617
213
Under a £5m loss. Pretty decent figures considering the start to last season. All those games being moved had a terrible effect on ticket sales.

Have we any figures from other championship clubs to compare to?
 
  • Like
Reactions: Fergusons_Beard

SkyBlueSoul

Well-Known Member
Apr 15, 2015
3,502
4,047
213
Manchester
“The club also reverted back to its historical name of Coventry City Football Club Limited”

I know it’s pedantic but you can’t “revert back”. It’s an official document ffs. Other than that I’m pleased.
 
  • Like
Reactions: tomreagan84

Evo1883

Well-Known Member
May 25, 2013
32,613
36,084
313
Coventry
Under a £5m loss. Pretty decent figures considering the start to last season. All those games being moved had a terrible effect on ticket sales.

Have we any figures from other championship clubs to compare to?
Bristol City made a pre tax loss of 22.2 mill in 22/23

Norwich 27.2 mill
 
  • Like
Reactions: bigfatronssba

bigfatronssba

Well-Known Member
Apr 20, 2013
6,747
2,617
213

Users who are viewing this thread