SAFC Wilks
Striker
Other clubs in this division will be in a much worse position than we’ve posted there. Much, much worse.
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Whilst losses will correlate to cash flow, and the overdraft, they’re not the same thing really. Losses include non cash itemsBit of a mixed bag id say, but overall promising considering we could shift a Jobe/Rigg/Neil/Watson and pretty much cover our losses (assuming we dont then spend it).
A loss of £8.1m isnt that bad at all really. Bit worrying for other clubs who dont have 35000 ST holders bringing in revenue.
£8.2m overdraft as well. Bit too coincidental to me that the loss and overdraft figures are so close. Could suggest that our losses accumulate in the overdraft, and are being cleared at the end of each period.
A "working capital facility' is basically a loan. The club say from an "entity associated with the Louis-Dreyfus family". I take that with a pinch of salt given the 'misdirection' weve been sold by the club in the past. But again, suggests that young Kyril is basically covering the losses, by lending the club money.
How that works out down the line is anyones guess. He could be hoping to recuperate that plus pull a profit when he sells the club. Or if we go up, could just pay it off from the extra revenue. Or the club could be paying it off now, like a normal loan. Or maybe, worryingly, given the rumours last week or so, the club is taking loans out to pay off young Kyril.
But aye id say overall its promising. Just highlights how foolish it would be to spunk a ton of money gambling for promotion.
GOM will be foaming at this upstart
Other clubs in this division will be in a much worse position than we’ve posted there. Much, much worse.
WBA are losing nigh £39m pa?WBA as one example are losing nigh on £750,000 a week.
It's absolutely mental.
I’d highly doubt he’s taking loans agains the club to pay back his own loan, I think those will just be rumoured
He’ll likely just take some profits out over time / if or when he sells the club
They just lost near that in their recent accounts I’m sureWBA are losing nigh £39m pa?
His cousin spending the VEEP moneyOwld Dreyfuss ma lending us some coins from her Gucci purse?
Other clubs in this division will be in a much worse position than we’ve posted there. Much, much worse.
MiddlesbroughHas any other championship clubs released their accounts I know WBA made a 31 million loss
Depends what it is. Only if secured against the club/assets iirc.Would the loan not have to appear somewhere on companies house?
Does that depend on whether the loan is to the club or KLD?Would the loan not have to appear somewhere on companies house?
Fuming or foaming? There is a fairly significant differenceGOM will be foaming at this upstart
Assets increased by £146m?! Surely Gibson hasn't written off that much in a single year.Middlesbrough
MIDDLESBROUGH FOOTBALL & ATHLETIC COMPANY (1986) LIMITED filing history - Find and update company information - GOV.UK
MIDDLESBROUGH FOOTBALL & ATHLETIC COMPANY (1986) LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activityfind-and-update.company-information.service.gov.uk
Business review
The results for the financial year show an EBITDA (earnings before interest, tax, depreciation and amortisation, calculated as the operating loss with depreciation and amortisation added back) of £92,000(2023: £7,483,000), a loss before taxation of £12,427,000 (2023: £6,399,000) and turnover of £32,247,000(2023: £28,594,000). Net assets have increased by £146,439,000 on prior year to £10,055,000 (2023:£136,384,000 net liabilities). During the financial year, £148,686,000 owed to group undertakings was converted into equity through the issue of shares and capital contributions.
If we’re (you and I) are looking at the same thing it looks like they converted close to £149m into equity.Assets increased by £146m?! Surely Gibson hasn't written off that much in a single year