19/20 Accounts (20 Viewers)

[Frostie]

£3.4m loss. Not unexpected.
Will wait for @oldskyblue58 to do his forensic examination!

 

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[SlowerThanPlatt]

https://www.ccfc.co.uk/contentassets/d232ffe3dbcd4d45be86f1c6f66a6475/otium-accounts-2020.pdf

 

[SlowerThanPlatt]

Promotion bonuses over £700k? Is that normal?

 

[HuckerbyDublinWhelan]

Promotion bonuses over £700k? Is that normal?

Think so, I’m sure we’re bonus heavy to encourage performance. They restructured the bonus scheme a few years back

 

[Grendel]

It looks horrendous

 

[SlowerThanPlatt]

It looks horrendous

Yes it does make me laugh when people think we’re in a position to hold out for £10m for players, as if they’re worth that anyway.

 

[Winny the Bish]

- My very basic skills seem to suggest that playing at St Andrews cost us £750k more than whatever we pay for the Ricoh
- Paid £2.5m in transfers last summer, received £1.5m in sell-ons, and paid £700k in promotion bonuses
- Match receipts were halved playing at St Andrews
- Wages went up by £1m

Playing at St Andrews was NOT viable for the club. Judging by the numbers, we would've wanted a return to the Ricoh just as much as Wasps.

 

[Grendel]

Yes it does make me laugh when people think we’re in a position to hold out for £10m for players, as if they’re worth that anyway.

These owners need to be thanked for really making the club financially stable.

COVID has little impact on these figures. It’s catastrophic mismanagement

 

[rexo87]

Think it shows we are very likely to sell one of our prized assets (Hamer or Ohare). Another thing I’ve picked up on is that it cost us nearly 800k more to rent at St Andrews than we were doing at Ricoh originally. Could be wrong


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[Brighton Sky Blue]

It looks horrendous

Equally I don’t think anyone is surprised by the numbers nor do I think many clubs in our league will have vastly different general pictures

 

[Grendel]

Equally I don’t think anyone is surprised by the numbers nor do I think many clubs in our league will have vastly different general pictures

Without player sales we’d have lost far more than many clubs I’d guess - COVID had little impact remember

 

[Winny the Bish]

Equally I don’t think anyone is surprised by the numbers nor do I think many clubs in our league will have vastly different general pictures

Covid only effected the last couple months of that season.

 

[rexo87]

Also, wages increased by 1M from Ricoh to St Andrews?!


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[Grendel]

Also, wages increased by 1M from Ricoh to St Andrews?!


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That’s no surprise gross wages I guessed at £7m

 

[skyblu3sk]

If you look at the amount accrued in interest at circa £2m and the bonus structure at £700k I don't think they are all that bad... although next year will be worse...

 

[rexo87]

That’s no surprise gross wages I guessed at £7m

But that works out as deliberate investment in the playing squad by the owners surely?


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[rexo87]

Club also believes they can re-coup some losses from pandemic through business insurance


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[Brighton Sky Blue]

Without player sales we’d have lost far more than many clubs I’d guess - COVID had little impact remember

Yes, but we made those sales as it’s part of the recruitment strategy. There are even bigger basket cases in this division which collectively is probably the least financially stable in Europe

 

[Grendel]

But that works out as deliberate investment in the playing squad by the owners surely?


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Funded by selling players

 

[Grendel]

Yes, but we made those sales as it’s part of the recruitment strategy. There are even bigger basket cases in this division which collectively is probably the least financially stable in Europe

League 1?

 

[Brighton Sky Blue]

Covid only effected the last couple months of that season.

Even excluding COVID most Championship clubs are in a dire financial state

 

[Grendel]

Even excluding COVID most Championship clubs are in a dire financial state

This isn’t championship accounts

 

[Brighton Sky Blue]

League 1?

How many L1 clubs have pulled ground selling scams to get around FFP?

 

[rexo87]

Funded by selling players

Money from player sales was less than the year before but wages increased by a million. Surely that’s investment?


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[Grendel]

How many L1 clubs have pulled ground selling scams to get around FFP?

FFP isn’t in league 1

 

[SlowerThanPlatt]

Wilson being sold to Newcastle came just at the right time by the looks of it.

 

[Grendel]

Wilson being sold to Newcastle came just at the right time by the looks of it.

Good point

 

[wingy]

Just need Madison to be on the move this summer.

 

[HuckerbyDublinWhelan]

Wilson being sold to Newcastle came just at the right time by the looks of it.

And promotion, could you imagine the figures if we were playing in league one last season

 

[Brighton Sky Blue]

This isn’t championship accounts

FFP isn’t in league 1

It is fair to assume that the financial picture now is not vastly different to what it was then and we are now in a league where most clubs are running bigger losses. We aren’t really atypical here

 

[SlowerThanPlatt]

Just need Madison to be on the move this summer.

The club has no further significant stake, think it may be a small %development fee

 

[Frostie]

Yes, but we made those sales as it’s part of the recruitment strategy. There are even bigger basket cases in this division which collectively is probably the least financially stable in Europe

Absolutely. It's a risky strategy though.

Next years accounts will be an interesting one. We didn't have a big sale in the year just gone (just the Wilson sell on?) + the Covid effect, no crowds etc. + further increased wage bill.
Will the uplift in TV money cover all that?

Wilson being sold to Newcastle came just at the right time by the looks of it.

That'll be in next year's won't it?

 

[Evo1883]

Since those accounts . We will be bringing in more than 12 plus million in solidarity and TV when you include the upcoming season .. something league 1 never afforded us at all .

Lose 3.5 million , gained 6/7 million plus .

Sadly the pandemic happened in between all this .

If we never got promoted then yes it's a big problem

 

[Evo1883]

Absolutely. It's a risky strategy though.

Next years accounts will be an interesting one. We didn't have a big sale in the year just gone (just the Wilson sell on?) + the Covid effect, no crowds etc. + further increased wage bill.
Will the uplift in TV money cover all that?



That'll be in next year's won't it?

The solidarity payment in league 1 is around 6/700k isn't it?

Championship its several million plus much more TV money

Shows the importance of remaining in this division

 

[Brighton Sky Blue]

Absolutely. It's a risky strategy though.

Next years accounts will be an interesting one. We didn't have a big sale in the year just gone (just the Wilson sell on?) + the Covid effect, no crowds etc. + further increased wage bill.
Will the uplift in TV money cover all that?

We gained approx £5.5m in base payments plus an extra £650k from TV appearances. That all in and another £3 million loss seems quite plausible