Financial results out


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operating expenses 110 million
turnover 79 million


any other industry and we'd be closed down

Not really, we have a boat load of assets, we are also on an upward curve.

We need to bring the operating expenses down, and turnover will increase again next year. It is a step by step process.

The bank will love us.
 
They are, because in most cases you haven't even received most of the money.

I should have emphasized this instead of 'amortized'

We'll still be being paid for both Bent and Henderson
Thats cashflow not P&L though surely?

The amount still owed will just into Trade Creditors.

Just an educated guess though

So you are saying we still hold a portion of Bent and/or Henderson on the Balance sheet?
 
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I have to say the figures look pretty shite. A 7m loss in a year we sold £40m+ worth of players! Never mind player depreciation taking it to 30m+ loss.

Even taking out that £30m depreciation from the £110m figure our operating costs were £80m!!! Far far too high and our wages to turnover ratio must be absurd.
 
I would suggest that, rather deliberately, you can't tell anything from these headline figures, would guess also that the full accounts will be equally lacking in full information.

I read it that the operating loss on football was reduced by the income generated elsewhere but that's only a guess.
 
Thats cashflow not P&L though surely?

So you are saying we still hold a portion of Bent and/or Henderson on the Balance sheet?

I'm saying Villa and Pool will still owe us cash after these results, and you can't balance sheet that until it arrives. Project it yes, so most of it should arrive in the 2011 - 12 results I guess, in a year
 
I have to say the figures look pretty shite. A 7m loss in a year we sold £40m+ worth of players! Never mind player depreciation taking it to 30m+ loss.

Even taking out that £30m depreciation from the £110m figure our operating costs were £80m!!! Far far too high and our wages to turnover ratio must be absurd.

Give ower man and stick yer heed in the sand like everyone else.

I'm off out now to spend 140% of me wages on summat..
Then I'll do the same next month and the next and the next and the next
 
I'm saying Villa and Pool will still owe us cash after these results, and you can't balance sheet that until it arrives. Project it yes, so most of it should arrive in the 2011 - 12 results I guess, in a year
yes and they will sit in the trade debtors account having hit the P&L.

A note from last years accounts "trade debtors include transfer fees receivable from other clubs".

Additional fees dependent on the success of the team and/or individual won't be in these accounts. But the normal full fee will be.
 
They are, because in most cases you haven't even received most of the money.

I should have emphasized this instead of 'amortized'

We'll still be being paid for both Bent and Henderson


It's all blurred anyway; even if players are amortized from the fees we paid for them, that doesn't mean that's what they're actually worth, i.e. that we didn't pay over the top for them in the first place.

Are Carroll/Henderson still worth the fees paid for them, taking into account amortization? I think not.

The only true way to look at the performance of a business is Money In vs Money Out; that tells you all you need to know.

And ours is still in a sh*t state by any yardstick; football is living in a financial fantasy world.
 
The only way to get a proper handle on these results, is to view the figures through an impartial medium, rather than the club's official website.
So I'll wait before I commment until I've read tonight's Evening Chronicle or tomorrow morning's Journal before speculating whether these figures are good, bad or indifferent.
 
The only way to get a proper handle on these results, is to view the figures through an impartial medium, rather than the club's official website.
So I'll wait before I commment until I've read tonight's Evening Chronicle or tomorrow morning's Journal before speculating whether these figures are good, bad or indifferent.

FoJ
 
The only way to get a proper handle on these results, is to view the figures through an impartial medium, rather than the club's official website.
So I'll wait before I commment until I've read tonight's Evening Chronicle or tomorrow morning's Journal before speculating whether these figures are good, bad or indifferent.

That is the press release. Daft lad.
 
Re: Financial results announced

So, despite selling two players for 42 million pounds last year, there was still a seven million pound shortfall.

Not as encouraging as the club are making out perhaps?
 
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