slondonskyblue
Well-Known Member
Rudoni will command a valuation close to that come the end of next season IMO. Younger with longer on his contract.
Accounts Published - May 2024 (1 Viewer)
- Thread starter SkyBlueSoul
- Start date
Rudoni will command a valuation close to that come the end of next season IMO. Younger with longer on his contract.
Grendel
Well-Known Member
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
Well-Known Member
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
Well-Known Member
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
Well-Known Member
11% interest
Sky Blue Goblin
Well-Known Member
So for context if that was us, we would owe about £3,300,000 interest?
Flying Fokker
Well-Known Member
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
fernandopartridge
Well-Known Member
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
Well-Known Member
or maybe 10.99% ?
Sky Blue Pete
Well-Known Member
Why won’t anyone answer am I being a dick
Is 27-28 an extension on the licence
Is 27-28 an extension on the licence
Sky Blue Goblin
Well-Known Member
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
Well-Known Member
That’s what I thought so why are they claiming it’s an extension
Sky Blue Goblin
Well-Known Member
fernandopartridge
Well-Known Member
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
Well-Known Member
I assume that the license expiry date is co-terminus with the club's accounting period i.e. 31 May.
Tommo1993
Well-Known Member
I’ve got a couple of questions about her whorish claim.
Earlsdon-Loyal-Blue
Well-Known Member
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.
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
Well-Known Member
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
Well-Known Member
Yeah I thought that, it’s different when a parent company lends you money - you can keep pushing the date back.
COVKIDSNEVERQUIT
Well-Known Member
Don't think so, the original lease is for five years, which takes us to 2028.
Cally Fedora
Well-Known Member
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
Well-Known Member
William is back with some Rich NRG!
Gynnsthetonic
Well-Known Member
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
Well-Known Member
Supposition.
skyblue025
Well-Known Member
To be fair to the club they have explained it pretty well. For a layman like myself that's quite refreshing.
Cally Fedora
Well-Known Member
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
Well-Known Member
Writing’s on the wall…….
Wrexham's astonishing finances made public as Ryan Reynolds' true value emerges
Wrexham saw their annual turnover increase by 155 per cent to £26.7million in the financial year ending in June 2024, but still posted a loss in the latest accounts
Interesting read on Wrexham's accounts; headline is their turnover was £26.7million, up %155 on py with a loss of £2.7m. It will be interesting to see how ambitious they are in the window this summer if they get promoted this year.
fernandopartridge
Well-Known Member
Their turnover is nearly £27m, guess a load of that is faux sponsorship. Their average gate was 11k last season. Cov's turnover on similar gates was around a third of that.
TomRad85
Well-Known Member
Don't 'Knighthead' sponsor the Birmingham stadium to the tune of quite a few million per season? Is this a legit way around rules?
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TomRad85
Well-Known Member
Wrexham have a lot to do imo. Birmingham have a team that could be around mid-table Championship really, if they are allowed to invest you could see a push closer to the top 6 for sure. Wrexham would need basically a whole new team. Parkinson is a honking manager too.
fernandopartridge
Well-Known Member
Wrexham reckon half of their income comes from north America, sounds like bullshit to me. They've issued shares apparently worth £28m this season. I can't see the year end 2024 accounts yet but this was the position at the end of the season they beat us in the cup.
SkyBlueCharlie9
Well-Known Member
On Wrexham these L2 figures are interesting. They have used 'The Robs' investment to build an effective model and now have a wealthy US family owner who I think may have paid the Rob's their investment back. Smart.
United Airlines and STOK coffee(?) paid massive sponsorships total of about £30m in L2 on back of the visibility of the club on Disneys Welcome 2 Wrexham programme.
Wealthy Allyn family have only now come in from US this season, before these accounts.
They have a lot of plastic US fans subscribing via Ifollow in L2 season now matches are on Paramount+ and numbers growing.
Fair amount of shirt sales in US too.
The figures were from L2 last season, and 150% revenue increase expected on L2 figures so expect a 50% increase for L1 (26.7m£ to 40.1m aprox.)
They could have £50m to spend in CChampionshipbut have a lot of ageing L1 players.
They have a long ball merchant manager also though who might not keep them up.
They are investing in ground rebuild and training facilities too.
Wrexham are here to stay for the long term.
That said they will do very well to stay up next season given their squad, but they will spend.
United Airlines and STOK coffee(?) paid massive sponsorships total of about £30m in L2 on back of the visibility of the club on Disneys Welcome 2 Wrexham programme.
Wealthy Allyn family have only now come in from US this season, before these accounts.
They have a lot of plastic US fans subscribing via Ifollow in L2 season now matches are on Paramount+ and numbers growing.
Fair amount of shirt sales in US too.
The figures were from L2 last season, and 150% revenue increase expected on L2 figures so expect a 50% increase for L1 (26.7m£ to 40.1m aprox.)
They could have £50m to spend in CChampionshipbut have a lot of ageing L1 players.
They have a long ball merchant manager also though who might not keep them up.
They are investing in ground rebuild and training facilities too.
Wrexham are here to stay for the long term.
That said they will do very well to stay up next season given their squad, but they will spend.