Looks like SBC have been paid off

[Grumpy Old Man]

Excellent. No idea what it means

It means that all the security held by SBC has been released. This only happens when a debt is paid off in full.

 

[stephen cartwright]

It means that all the security held by SBC has been released. This only happens when a debt is paid off in full.

Cheers

 

[kildaremackem]

They parachute payments pass through the P & L. The only time any element of it appears on the balance sheet is if some is received before the year end. This will be held as a credit balance on the balance sheet as "accrued income". This happened during our final season in the PL, when they released a tranche of money a month earlier than usual. Accrued income also picks up season ticket money and sponsorship paid in advance, by the way. It's more likely to happen with us, as our 31 July year end is a month later than most clubs. I'd actually recommend to the new owners that they change the year end to avoid some of these complications, and to bring us into line with industry norms. It wold also align our year end with transfer windows better; at present most of the summer window happens before the year end which, for the most part, covers the previous season.

thanks-the owners are taking a risk there..if the club records a £20m or more profit but doesnt get promoted the fans will be furious...if it works though..and we have ov er £30m as a startying point for getting out of the champiosnhip..