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How much is the clubs debt?
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Grumpy Old Man
Striker
At 31 July 2016 (the year end for the last published accounts), there were the following debts: Security Benefits Corporation £67.9m, Parent company (Drumaville Ltd) £69.4m. Total £137.3m
Against this can be offset: Investments £23.4m and cash £26.9m.
Source: Sunderland Limited financial statements for the year ended 31 July 2016.
There are no later figures in the public domain.
Do you have a source for this?
Aye
Grumpy Old Man
Striker
but it's wrong - the UEFa numbers are garbage as they include amounts owing on transfer fees. In accounting terms, these are not debts.
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JL1985
Striker
What the fuck has/is short doing? We must have had about £400m in TV revenue over the last 10 years. The club has recouped more than I actually realised in player sales. The players must be on 200k a bloody week. A lot of creative accountancy going on. Short doesn't give a toss anymore because he's already got his money back.
Grumpy Old Man
Striker
None whatseoever. I'm just going to post some real numbers for about the third time this week. These are got at by adding together all the numbers in the accounts for the last ten years.
Turnover: £766..5m
Staff costs: £577.2m
Other operating costs: £192.1m
Interest: £34.9m
Cash outflow on players bought £309.m
Cash inflow from players sold: £125.8m
Debt on 1 August 2006 £35m
Debt at 31 July 2017 £137m
Debt converted to shares during that time £101m
The one thing that hasn't happened is Short getting anything back. It's all gone, pretty much to players, their agents, and other football clubs.
Maximus
Striker
Amortisation is an intersting process when it comes to transfer fees, particularly when you look at our loaned out players.
Super Colin Todd
Striker
It's an engima.
Will be interesting to see the accounts for this year but they won’t be out until july 2019
Lord Alfred
Striker
Quite interesting those numbers. What are our “investments” and why have we got £26m in cash?
Do they suggest that if a consortium bought out Short for an agreed figure they could strike a deal to restructure the SBC loan over a longer period and a potentially more favourable rate and technically be almost viable again.
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Grumpy Old Man
Striker
The investment is a bond that SBC required to have lodged with them as part of the loan deal. The face value is £20m, but at 2016 dollar values it comes out to the higher number. The cash number is down to the timing of PL money. They released a tranche a month earlier than usual; the more realistic 2015 figure was £2.6m. The bond can and probably will be offset against the loan. If that and transfer income can be used to get the SBC debt down to around £25m, it should be possible to refinance the remainder
March/April 2019
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