Yeah I saw that referenced in the club's release on the website, pretty disappointing and certainly not SISU backing Robins with everything they've got, even if it is just a reality of the world
employee numbers went up because the number of stewards went up from 209 to 227
in theory non cancellable leases in the future should be disclosed in the accounts so the reader can see what costs a business is committed to next year etc
My brief comments are
Good to see the finances looking better however it is entirely based on significant transfer sale money. Can that be achieved every year ?
2019/20 will show significant transfer income so those results should be reasonable too except for a likely downturn in turnover
However look behind the transfer income and it shows a significant increase in the operating costs. Which means the club is not self financing without those transfer fees. That is despite an increase in turnover.
Apparently much of the increase in operating costs is due to promotion to L1, so just how much can we expect those costs to increase with promotion to the Championship?
The directors report and audit report both refer to the ground situation. Personally i cant help thinking that it is preparing for being at St Andrews next year. (and yes they have to do what is necessary to keep the club alive i realise that)
The most interesting pages of the Otium accounts are the last two pages - management information. I cant help thinking those pages were never meant to be published. Tells all and sundry how the cost of operating is arrived at and is never usually published. It has got to be a big error by someone
They have changed auditors from BDO.
To get a break down of the amounts owed to ARVO etc you need to look at the SBS&L accounts. ARVO have had £260k of one of their loans back
All the loans still incur interest, no reason why they shouldnt if the owners choose to, but it has not been paid but has been added to the liabilities
Otium has assets of £1.7m but liabilities of £21.4m, without support from the owners or player sales the club is insolvent, (same could be said for a lot of clubs)
Wages costs for the whole business show an increase of £450k to £5.3m despite saving £220k in pensions costs
Interest costs have increased from 1.87m to 2.095m
No new loans from the owners in this year
Cash flow shows a decrease in funds available in the bank of 625k year on year. Which further backs up that CCFC have to sell big to survive
Club spent £1m on new players in the year financed by the Maddison & McNulty sales. The rest of the money went on running costs except for £260k (see above). They also spent £114k of equipment
What this basically says is that in L1 CCFC has to sell players to the tune of £4m to simply break even in terms of profit. That even with those profits cash flow has been squeezed
thats my take on it
Have they always broken things down to the level of heating, printing and transport etc? I can't remember seeing that.
Presumably they aren't in these accounts as it wasn't known at the end of the accounting period?
I thought I had?pick a year then i've got most of them
I know it’s all hypothetical but if we need to sell £4m worth of players in L1 to break even how much would we need to sell in the Championship at St. Andrews?
0 if we didn't change our playing budgetI know it’s all hypothetical but if we need to sell £4m worth of players in L1 to break even how much would we need to sell in the Championship at St. Andrews?
Shows we have a better set up than most
There's about a 6m jump in income from the EFL/Premier League with being in the Championship.
I’m starting to think each league should set a wage cap of whatever the TV settlement is. The idea we could go up and not be able to compete financially is ridiculous. Why even have promotion and relegation?
A wage cap on what though? If a club has 10 times our turnover it should surely have 10 times the cap?
No it shouldn’t. That’s my point. Fair enough if they get a windfall or whatever spend it on fees but I think everyone should have roughly the same wage cap to make the league competitive. Not perfect by any means but is this?
I thought I had?
Oh dearNo it shouldn’t. That’s my point. Fair enough if they get a windfall or whatever spend it on fees but I think everyone should have roughly the same wage cap to make the league competitive. Not perfect by any means but is this?
Oh dear
Soiled yourself again?
The cap would surely though be established by looking at the biggest earners?
No it shouldn’t. That’s my point. Fair enough if they get a windfall or whatever spend it on fees but I think everyone should have roughly the same wage cap to make the league competitive. Not perfect by any means but is this?
Weird geeza
Calm down Corbyn.
The human body is weird but you’ll get the hang of it little fella. Couple more years and you’ll be all grown up.
BRB just off to tell Bill Shankly a child on the Internet says he’s wrong
View attachment 14246
He started it Sir!
You really are an idiot
The cap would surely though be established by looking at the biggest earners?
I think he's saying it should be based on the fixed income that all (most) clubs get. The basic rate plus solidarity payment.
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