CCFC 2018/2019 Accounts Thread! (3 Viewers)

[Gibbo]

My wishful thinking is that if we get promoted a buyer will come in with an offer Joy cant refuse.

Or there is one waiting, Joy just has to get City back to the Championship. I can see little on going benefit to SISU from being a mid table Championship side.

 

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[Grendel]

Fuck me.

Top of the table. Pulling clear. Best time to be a City supporter for many years. I have a great idea. Let's think of a thread that can make people angry and want to have an argument.

Oh well. All a part of being a City supporter.

The accounts have been published and it’s legitimate to discuss them

 

[Grendel]

How long until Keiran Maguire tells everybody that millions has been taken from the club and gets everybody frothing?

He will say we are £81 m in debt to Sisu

 

[PVA]

Not really very positive is it? £4m + transfer profit mostly covering losses, not sustainable at all.

Eh?

How is it 'not very positive' that we have made a profit for the first time in however long? How many other clubs in the football league made a profit last year?

Would it be more positive if we made a loss?

 

[speedie87]

We’ve actually made a £2m profit if you ignore the interest on the loans which is more a of paper figure than anything else in the accounts

 

[Grendel]

Eh?

How is it 'not very positive' that we have made a profit for the first time in however long? How many other clubs in the football league made a profit last year?

Would it be more positive if we made a loss?

We havent we’ve made an operating loss which has increased

 

[CovUpNorth]

How many clubs make a profit before transfers? Not to mention its the clubs stated business model. Of course it would be brilliant if we were minions in profit without selling anyone but that's virtually impossible.

 

[Grendel]

We’ve actually made a £2m profit if you ignore the interest on the loans which is more a of paper figure than anything else in the accounts

Page 27 shows a £2m loss operationally which has zero to do with that - match day turnover went down

 

[speedie87]

Page 27 shows a £2m loss operationally which has zero to do with that - match day turnover went down

yeah add the £4m player sales and you get my £2m profit

 

[Nick]

Page 27 shows a £2m loss operationally which has zero to do with that - match day turnover went down

Wonder if the playoffs helped with that the year before?

 

[CovUpNorth]

How much do the Champions of League 1 receive?

 

[Grendel]

yeah add the £4m player sales and you get my £2m profit

Which is as tenable as wasps making a profit due to the extraordinary share issue item

 

[Grendel]

Anotization costs much higher? What’s the debt that’s been written down on an asset?

£0.5m on rent which is a lot higher than the stated Ricoh rent amount

 

[mark82]

How much do the Champions of League 1 receive?

Not much. The bigger prize is increased revenues in the Championship. Of course, expenses will also be higher too.

 

[mark82]

Anotization costs much higher? What’s the debt that’s been written down on an asset?

£0.5m on rent which is a lot higher than the stated Ricoh rent amount

Did they ever confirm what the terms were at the Ricoh for last year?

 

[pusbccfc]

Couple of big FA Cup games in this seasons as well - could be the difference between green and black.

And the shirts, especially the two-tone sales.

 

[Grendel]

Did they ever confirm what the terms were at the Ricoh for last year?

It was £500k the year before as well

 

[Sky Blue Pete]

Have they always broken things down to the level of heating, printing and transport etc? I can't remember seeing that.

No I think it’s good

 

[speedie87]

Which is as tenable as wasps making a profit due to the extraordinary share issue item

They are different as it’s not a one off exceptional item. Hence wasps had to account for it as such. Making money from player sales a normal part of the trade of running a football club. As shown from selling 3 players for millions again this season.

 

[mark82]

It was £500k the year before as well

Hmm. If it's not the Ricoh, any idea what it could be? I know they obviously have the ticket office, but that will be negligible.

 

[Grendel]

They are different as it’s not a one off exceptional item. Hence wasps had to account for it as such. Making money from player shares a normal part of the trade of running a football club. As shown from selling 3 players for millions again this season.

It’s not if you are looking at the true value of the business - the business has lost £2.5m yet makes a laughable statement it’s running at a revenue neutral position - it’s had £1.3 m of loans in the previous 3 years unsecured from the master fund as well

 

[fernandopartridge]

They are different as it’s not a one off exceptional item. Hence wasps had to account for it as such. Making money from player sales a normal part of the trade of running a football club. As shown from selling 3 players for millions again this season.

It isn't, we cannot rely on profit from players of £4m +, Maddison in particular is a one off and we're very unlikely to bring that sort of money in again.

This isn't me being negative it's just genuine worry for the club's future. We all love to comment on Wasps' poor financial position, ours is not really much better if not worse and it seems a bit like the egos involved have set the two clubs on to a mutually assured suicide.

 

[Grendel]

It isn't, we cannot rely on profit from players of £4m +, Maddison in particular is a one off and we're very unlikely to bring that sort of money in again.

This isn't me being negative it's just genuine worry for the club's future. We all love to comment on Wasps' poor financial position, ours is not really much better if not worse and it seems a bit like the egos involved have set the two clubs on to a mutually assured suicide.

A lot of people on here are like that Shuggs guy on there

 

[shmmeee]

TBF we’ve been saying we can’t sustain player sales since Wilson went and yet here we are.

 

[Deleted member 5849]

They are different as it’s not a one off exceptional item. Hence wasps had to account for it as such. Making money from player shares a normal part of the trade of running a football club. As shown from selling 3 players for millions again this season.

It's not guaranteed though. This profit is only because Maddison moved on, and that was out of our control. Had he not moved on, would we have had to sell someone below value to plug the gap? Or would we have had to have an inferior squad, and risk starting the cycle we were in before of the swirling plughole?

We've sold players this season, but will have smaller income and (possibly) greater costs. What happens then? At what point do we run out of saleable assets, or we have to sell everybody, fast?

 

[tisza]

Anotization costs much higher? What’s the debt that’s been written down on an asset?

£0.5m on rent which is a lot higher than the stated Ricoh rent amount

Higgs rent?
I'm assuming the some of amortization increase is down to the fact we bought players for cash and it's spread over the length of their contracts

 

[speedie87]

It’s not if you are looking at the true value of the business - the business has lost £2.5m yet makes a laughable statement it’s running at a revenue
neutral position - it’s had £1.3 m of loans in the previous 3 years unsecured from the master fund as well

Yes we’d have made a loss without player sales , but player sales are a main source of trading income for football clubs. You can’t just ignore them.

 

[Deleted member 5849]

TBF we’ve been saying we can’t sustain player sales since Wilson went and yet here we are.

And I'm realistic enough to know that player sales are an inevitability. It's to Robins' great credit that despite smaller income streams this season, he's got us doing so well, really.

All it takes is one poor choice of manager, though...

 

[fernandopartridge]

The increase in turnover we need to even begin to compete in the Championship is huge, well over 100%, where is that coming from?

 

[Deleted member 5849]

The increase in turnover we need to even begin to compete in the Championship is huge, well over 100%, where is that coming from?

To a degree, does our business model need us to sell one or two players at peak value on promotion, keep a similar squad to now, and just take the hit of relegation?

Would that actually straighten us out a little financially? Or risk starting the downward spiral again?

 

[Nick]

The increase in turnover we need to even begin to compete in the Championship is huge, well over 100%, where is that coming from?

Joy has recruited Dale Evans. Panic over.

 

[Liquid Gold]

If we could somehow manage to have a fairly competitive season on a similar budget and come down with more money in the bank and a similar squad it would help the 'who blinks first' strategy our owners seem to have.

 

[jimmyhillsfanclub]

The increase in turnover we need to even begin to compete in the Championship is huge, well over 100%, where is that coming from?

Well....its a challenge...but if we all drink enough sky blue army lager then maybe...just maybe

 

[Deleted member 5849]

If we could somehow manage to have a fairly competitive season on a similar budget and come down with more money in the bank and a similar squad it would help the 'who blinks first' strategy our owners seem to have.

To an extent, bouncing a bit like, say, Rotherham might be what we need for a while. Given our recent history however, I'd always be worried to loser culture took over again, just when we've rid ourselves of it seemingly.

 

[CovInEssex]

Well....its a challenge...but if we all drink enough sky blue army lager then maybe...just maybe

I'm willing to do my bit for the cause.