Brighton Sky Blue
Well-Known Member
You need turnover to make profit. At least properly read through what I say prior to dismissing it. The figures don't lie-we are worse off without ProZone than with it.
Auditors raise concernc over CCFC Finances (4 Viewers)
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My point is simple: The accounts published shows the results of having Ranson, Hoffman and Elliott running the show.
All they have done since the takeover is there in the reports: The increasing losses, the increasing liabillities, the decreasing assets ... everything they have done is reflected there in the accounts. There are no better evidence, no better hard core facts ... just look at the numbers.
The accounts published are the status of May 2011 - the time when the trinity were kicked out (or left because they could not continue to milk the sisu funds).
After that came the new regime. And all the names you list have easily added to the frustration and sense of amateurism surrounding the boardroom.
But one thing really has changed after sisu took control - somebody is now trying to steadying the ship. Trying to make the club self sustainable.
And THAT you will be able to read in a years time in the next set of accounts - which will be a reflection of the past season.
Brighton Sky Blue
Well-Known Member
The loss made on ProZone is a) A fraction of the millions and millions lost and b) Purely down to what Ranson's payout cost. Had he opted for £200k less, there would have been £100k profit. At the end of the day, it's essentially a break-even business operating within a huge loss making company, and as such its contribution to club finances was significant. Still, if you're happy with us giving up £4 million then I don't hold it against you.
Sick Boy
Super Moderator
You are likely to get lynched on here with that sort of talk.
Thank you, I aprreciate that. We got £7m for a £4m asset - I am content with that.
I've been talking like that since I joined, but so far I have managed to hide behind the keyboard.
oldskyblue58
CCFC Finance Director
see the CT have put up an article ........... they really do not understand it do they
http://www.coventrytelegraph.net/co...oventry-city-as-losses-spiral-92746-31280028/
Interview TF and dont really ask anything.
take this bit of the article
They say directors of the club anticipate raising the necessary cash flow to allow manager Andy Thorn to compete in the transfer market, but “the realisation of such cash flows is not yet certain”
isnt what the accounts say ..... what it says is
"In common with other clubs, the Football club anticipates continuing to be active in the transfer market with its squad the directors anticipate generating positive cash flows from such player transfer activity" ....... now does that sound like buying or selling players to you ?
same with this bit of the article
"He pointed out that he auditor only signed off the accounts of Sky Blues Sports & Leisure after a guarantee from ultimate owners Sisu that it would continue covering losses and fund the club for the next 12 months."
The auditors report refers to intention not guarantee and ends that paragraph with
No withstanding this intention, there is no contractual certainty that such funding will be made available
but as the CT says they know what is going on :facepalm:
http://www.coventrytelegraph.net/co...oventry-city-as-losses-spiral-92746-31280028/
Interview TF and dont really ask anything.
take this bit of the article
They say directors of the club anticipate raising the necessary cash flow to allow manager Andy Thorn to compete in the transfer market, but “the realisation of such cash flows is not yet certain”
isnt what the accounts say ..... what it says is
"In common with other clubs, the Football club anticipates continuing to be active in the transfer market with its squad the directors anticipate generating positive cash flows from such player transfer activity" ....... now does that sound like buying or selling players to you ?
same with this bit of the article
"He pointed out that he auditor only signed off the accounts of Sky Blues Sports & Leisure after a guarantee from ultimate owners Sisu that it would continue covering losses and fund the club for the next 12 months."
The auditors report refers to intention not guarantee and ends that paragraph with
No withstanding this intention, there is no contractual certainty that such funding will be made available
but as the CT says they know what is going on :facepalm:
Sure they know what's going on ... it's the 'how', 'why', 'when' and 'who' they struggle with.
Brighton Sky Blue
Well-Known Member
Yes, let's just sell things for a quick buck. That got us into this ACL fiasco in the first place.
Brighton Sky Blue
Well-Known Member
Don't know why you bothered so much as reading it OSB. Constantly afraid of upsetting SISU so they can't get their exclusive bits of propaganda to report on.
thegameaintstraight
New Member
Am I right in thinking that the statements in the accounts about future funding and transfer activiity relate to year 2011/12, which has now passed?
What do they say about 2012/13?
Apologies in advance if this is a silly question
What do they say about 2012/13?
Apologies in advance if this is a silly question
oldskyblue58
CCFC Finance Director
not a silly question......... the statements relate to at least a 12 month period from the signing of the accounts. Accounts were signed off 19/06/12......... so the budgets, plan etc covers to at least 19/06/13 and the auditors emphasis of matter cover that period forward
skyblueman
New Member
doesn't mean they WILL finance club only that at the time of signing they CAN.... a lot can change going forward
thegameaintstraight
New Member
osb thanks for that.