Accounts Published - May 2024 (23 Viewers)

[slondonskyblue]

Agree. however we are very unlikely to generate a Gyokeres level fee again in the near future.

Rudoni will command a valuation close to that come the end of next season IMO. Younger with longer on his contract.

 

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[Grendel]

@fernandopartridge is better at all this stuff than me. Is it right that the cringe yanks that Blues fans fap over are not giving interest free loans?

Interest is attached but in the end it’s just going to roll up anyway.

The amount invested is huge and they are certainly banking on premier league status soon

 

[fernandopartridge]

We don’t average 20k a week. Probably only 4 or 5 players on that or above. I wonder if that’s the total staff costs? Players, coaching staff, shop staff, tea lady etc.

Wage bill of £24m (including NI and pension contributions) is for absolutely everybody employed by the club, 153 players and coaches and 61 admin and commercial. The players and coaches employee numbers have fallen since 2023 whereas the admin and commercial have increased by 80% (probably due to onboarding the retail + some additional other commercially focused roles). The wages and salaries is just over £20m. The average salary of a player in the first team squad is nowhere near 20k.

 

[fernandopartridge]

It's almost pointless now talking about football clubs in viability terms. They are not normal businesses. Their objective to be successful on the pitch just does not align with being financially viable unfortunately.

 

[fernandopartridge]

@fernandopartridge is better at all this stuff than me. Is it right that the cringe yanks that Blues fans fap over are not giving interest free loans?

11% interest

 

[Sky Blue Goblin]

11% interest

So for context if that was us, we would owe about £3,300,000 interest?

 

[Flying Fokker]

Doug King makes Premier League statement as Coventry City confirm £30m boost

The Sky Blues owner has issued a statement as the club publishes its latest financial figures

www.coventrytelegraph.net

 

[fernandopartridge]

So for context if that was us, we would owe about £3,300,000 interest?

Yes, though it doesn't say whether that interest rate is an annual one in the Birmingham accounts. It's over a period of 7 years so could be 11.9% per year, probably more likely to be actually.

 

[JSL]

Yes, though it doesn't say whether that interest rate is an annual one in the Birmingham accounts. It's over a period of 7 years so could be 11.9% per year, probably more likely to be actually.

or maybe 10.99% ?

 

[Sky Blue Pete]

Why won’t anyone answer am I being a dick

Is 27-28 an extension on the licence

 

[Sky Blue Goblin]

Why won’t anyone answer am I being a dick

Is 27-28 an extension on the licence

Don’t think so bud. When Doug came in they signed a lease to finish that year. So 2023. Then they signed a additional five years which would take it to 2028

 

[Sky Blue Pete]

Don’t think so bud. When Doug came in they signed a lease to finish that year. So 2023. Then they signed a additional five years which would take it to 2028

That’s what I thought so why are they claiming it’s an extension

 

[Sky Blue Goblin]

That’s what I thought so why are they claiming it’s an extension

 

[fernandopartridge]

Do you know if that 27-28 is an extension?

It's an extension the license that was in place which lasted until the end of the 2022/23 season. The extended license will have commenced after that for a term of five years so will end at the end of the 2027/28 season.

 

[fernandopartridge]

It's an extension the license that was in place which lasted until the end of the 2022/23 season. The extended license will have commenced after that for a term of five years so will end at the end of the 2027/28 season.

I assume that the license expiry date is co-terminus with the club's accounting period i.e. 31 May.

 

[Tommo1993]

Bonnie Sky Blue

I’ve got a couple of questions about her whorish claim.

 

[Earlsdon-Loyal-Blue]

Genuinely positive but some concerns/questions, although I’m not an accountant.

We only made £23.5M profit on Gyokeres and Hamer. This is based on book value (not transfer outlay), so as they were in the last year of their contracts with amortisation over their last 2-3 years - I’d have expected this to be higher. We have trade debtors of £17.8M so this suggests we’ve only received ~£6M upfront for Gyokeres and Hamer… which is probably why King needed to loan the £30M.

King has written the £30M as being unsecured and without interest which is a positive but with a maturity date of 2 years time. I guess he will need to extend this unless we generate £12.2M on player sales on top of the trade debtors to pay him back?

We have spent circ £35M on player registrations (the asset) and have trade creditors of circa £6M so that infers we have paid £29M upfront… hopefully so that we get better deals rather than paying more for over 3 years etc.

 

[Sky Blue Goblin]

Genuinely positive but some concerns/questions, although I’m not an accountant.

We only made £23.5M profit on Gyokeres and Hamer. This is based on book value (not transfer outlay), so as they were in the last year of their contracts with amortisation over their last 2-3 years - I’d have expected this to be higher. We have trade debtors of £17.8M so this suggests we’ve only received ~£6M upfront for Gyokeres and Hamer… which is probably why King needed to loan the £30M.

King has written the £30M as being unsecured and without interest which is a positive but with a maturity date of 2 years time. I guess he will need to extend this unless we generate £12.2M on player sales on top of the trade debtors to pay him back?

We have spent circ £35M on player registrations (the asset) and have trade creditors of circa £6M so that infers we have paid £29M upfront… hopefully so that we get better deals rather than paying more for over 3 years etc.

Imagine Doug would keep kicking the can down the road regarding the loan until he sells the club and demands payment in full.

 

[Earlsdon-Loyal-Blue]

Imagine Doug would keep kicking the can down the road regarding the loan until he sells the club and demands payment in full.

Yeah I thought that, it’s different when a parent company lends you money - you can keep pushing the date back.

 

[COVKIDSNEVERQUIT]

Do you know if that 27-28 is an extension?

Don't think so, the original lease is for five years, which takes us to 2028.

 

[Hobo]

Amazing when the accounts come out how fans get analytical, concerned and critical. The next transfer window - bin him off and him off and we need to sign seven players

 

[Cally Fedora]

Fairly standard. Key points reading between the lines. Club along with most others is dependant on a benefactor (King). He seems to have put a 2 year ceiling on prem status tied in to when he wants his cash back. If we get to the prem he’ll pay himself back. If not he’ll try and recoup via selling to someone else. We haven’t bought anything for £2m. That will be the capital additions tarting up Ryton.

 

[shepardo01]

William is back with some Rich NRG!

 

[Gynnsthetonic]

Fairly standard. Key points reading between the lines. Club along with most others is dependant on a benefactor (King). He seems to have put a 2 year ceiling on prem status tied in to when he wants his cash back. If we get to the prem he’ll pay himself back. If not he’ll try and recoup via selling to someone else. We haven’t bought anything for £2m. That will be the capital additions tarting up Ryton.

Why do you say he has a 2 year ceiling on getting to the Premier league or sell up. He might not want to sell at all.

 

[Captain Dart]

Fairly standard. Key points reading between the lines. Club along with most others is dependant on a benefactor (King). He seems to have put a 2 year ceiling on prem status tied in to when he wants his cash back. If we get to the prem he’ll pay himself back. If not he’ll try and recoup via selling to someone else. We haven’t bought anything for £2m. That will be the capital additions tarting up Ryton.

Supposition.

 

[skyblue025]

To be fair to the club they have explained it pretty well. For a layman like myself that's quite refreshing.

 

[Cally Fedora]

Why do you say he has a 2 year ceiling on getting to the Premier league or sell up. He might not want to sell at all.

He’s set the maturity date on his own loan as two years. No need to do that if he didn’t have something in mind. Of course it’s possible he’ll extend but if that’s his thinking why put the time limit on in the first place. He’s not a fan, he’s a businessman.

 

[LastGarrison]

Supposition.

Writing’s on the wall…….