SAFC annual accounts OUT NOW


1. Financial Position and Key Highlights

  • Revenue Growth: The company’s turnover increased from £35.54M in 2023 to £38.15M in 2024, driven by improvements in sponsorship, television/media, and retail merchandising.
  • Operating Loss: The company reported a loss of £8.64M (2023: £8.93M), despite an increase in revenue. This was influenced by:
    • Higher staff costs (£30.59M vs. £25.61M).
    • Increased amortization of player contracts (£3.98M vs. £2.71M).
    • Significant profit on disposal of players (£8.81M vs. £0.3M), helping offset operating expenses.

2. Major Revenue Streams

Revenue Source2024 (£'000)2023 (£'000)% Change
Gate Receipts11,64110,726+8.5%
Television & Media10,44310,083+3.6%
Sponsorship & Royalties2,3911,620+47.6%
Conference, Banqueting, Catering8,7138,429+3.4%
Retail & Merchandising2,9972,721+10.1%
Other1,9671,964~0%

3. Expenses and Costs

  • Staff costs increased significantly (£30.59M vs. £25.61M), possibly due to new player signings or increased wages.
  • Depreciation increased to £2.15M (2023: £1.85M).
  • Bank loan interest payments appeared in 2024 (£626,000 vs. £0 in 2023), suggesting the company took on debt.

4. Player Contracts and Transfers

  • Player contract amortization (cost of contracts spread over time) increased to £3.98M (2023: £2.71M).
  • Profit from player sales increased significantly to £8.81M (2023: £0.3M).
  • Trade creditors for player acquisitions rose to £3.48M (2023: £2.94M).
  • Future transfer commitments rose to £4.77M (2023: £3.76M).

5. Financial Commitments and Liabilities

  • Short-term creditors increased to £54.37M(2023: £43.51M), due to:
    • Bank overdraft (£8.24M vs. £0M).
    • Increased parent company funding (£19.82M vs. £18.05M).
    • Higher accruals and deferred income (£17.11M vs. £17.34M).
  • Long-term creditors jumped to £19.26M (2023: £8.18M), including deferred taxation (£14.49M vs. £4.41M).

6. Investment and Asset Valuation

  • Stadium of Light revaluation increased net book value to £300.90M (from £91.16M).
  • Total tangible assets rose significantly to £338.52M (2023: £125.28M) due to revaluations.
  • Investment in subsidiaries remained constant at £1.08M.

7. Pensions and Defined Benefit Scheme

  • The club is part of the Football League Pension Scheme, with a £118.19M notional deficit (2023: £92.90M).
  • Total pension obligations rose to £137,000 (2023: £101,000).

8. Contingent Liabilities

  • Maximum contingent liability related to future player payments was £29.60M (2023: £24.69M).
  • Payments depend on player/team performance and third-party contractual obligations.

9. Related Party Transactions

  • Parent company Mercator Investments injected £19.82M (2023: £18.05M) in shareholder funding, with plans to convert this into equity.
  • The company provided services worth £29,317 to its charity, The Foundation of Light.

10. Ultimate Controlling Party

  • Mercator Investments Limited (Cayman Islands) controls the company, with K. Louis-Dreyfus as the ultimate controlling party.

Overall Assessment

  • Financial Stability: Revenue grew, but losses remain substantial.
  • Investment and Asset Strength: The Stadium of Light’s revaluation strengthened the balance sheet.
  • Debt and Liquidity Concerns: Rising short-term and long-term liabilities indicate higher debt reliance.
  • Player Trading: Transfer profits improved financial performance.
  • Parent Support: Mercator Investments continues to support the club, likely converting debt into equity.
The re-evaluation of the stadium is interesting, the changed the analysis method and come up with 300m. Increasing the value of the club for future investors!
 

1. Financial Position and Key Highlights

  • Revenue Growth: The company’s turnover increased from £35.54M in 2023 to £38.15M in 2024, driven by improvements in sponsorship, television/media, and retail merchandising.
  • Operating Loss: The company reported a loss of £8.64M (2023: £8.93M), despite an increase in revenue. This was influenced by:
    • Higher staff costs (£30.59M vs. £25.61M).
    • Increased amortization of player contracts (£3.98M vs. £2.71M).
    • Significant profit on disposal of players (£8.81M vs. £0.3M), helping offset operating expenses.

2. Major Revenue Streams

Revenue Source2024 (£'000)2023 (£'000)% Change
Gate Receipts11,64110,726+8.5%
Television & Media10,44310,083+3.6%
Sponsorship & Royalties2,3911,620+47.6%
Conference, Banqueting, Catering8,7138,429+3.4%
Retail & Merchandising2,9972,721+10.1%
Other1,9671,964~0%

3. Expenses and Costs

  • Staff costs increased significantly (£30.59M vs. £25.61M), possibly due to new player signings or increased wages.
  • Depreciation increased to £2.15M (2023: £1.85M).
  • Bank loan interest payments appeared in 2024 (£626,000 vs. £0 in 2023), suggesting the company took on debt.

4. Player Contracts and Transfers

  • Player contract amortization (cost of contracts spread over time) increased to £3.98M (2023: £2.71M).
  • Profit from player sales increased significantly to £8.81M (2023: £0.3M).
  • Trade creditors for player acquisitions rose to £3.48M (2023: £2.94M).
  • Future transfer commitments rose to £4.77M (2023: £3.76M).

5. Financial Commitments and Liabilities

  • Short-term creditors increased to £54.37M(2023: £43.51M), due to:
    • Bank overdraft (£8.24M vs. £0M).
    • Increased parent company funding (£19.82M vs. £18.05M).
    • Higher accruals and deferred income (£17.11M vs. £17.34M).
  • Long-term creditors jumped to £19.26M (2023: £8.18M), including deferred taxation (£14.49M vs. £4.41M).

6. Investment and Asset Valuation

  • Stadium of Light revaluation increased net book value to £300.90M (from £91.16M).
  • Total tangible assets rose significantly to £338.52M (2023: £125.28M) due to revaluations.
  • Investment in subsidiaries remained constant at £1.08M.

7. Pensions and Defined Benefit Scheme

  • The club is part of the Football League Pension Scheme, with a £118.19M notional deficit (2023: £92.90M).
  • Total pension obligations rose to £137,000 (2023: £101,000).

8. Contingent Liabilities

  • Maximum contingent liability related to future player payments was £29.60M (2023: £24.69M).
  • Payments depend on player/team performance and third-party contractual obligations.

9. Related Party Transactions

  • Parent company Mercator Investments injected £19.82M (2023: £18.05M) in shareholder funding, with plans to convert this into equity.
  • The company provided services worth £29,317 to its charity, The Foundation of Light.

10. Ultimate Controlling Party

  • Mercator Investments Limited (Cayman Islands) controls the company, with K. Louis-Dreyfus as the ultimate controlling party.

Overall Assessment

  • Financial Stability: Revenue grew, but losses remain substantial.
  • Investment and Asset Strength: The Stadium of Light’s revaluation strengthened the balance sheet.
  • Debt and Liquidity Concerns: Rising short-term and long-term liabilities indicate higher debt reliance.
  • Player Trading: Transfer profits improved financial performance.
  • Parent Support: Mercator Investments continues to support the club, likely converting debt into equity.
The re-evaluation of the stadium is interesting, the changed the analysis method and come up with 300m. Increasing the value of the club for future investors!
So we have loaned money from somewhere and paid over 600k interest on it in 1 year.
 
“Asset stripping, “KLD taking the piss” skint, won’t spend a penny, short arms deep pockets, only in it to make a profit”

All the failed tuck shop owners very quiet after these.
 

1. Financial Position and Key Highlights

  • Revenue Growth: The company’s turnover increased from £35.54M in 2023 to £38.15M in 2024, driven by improvements in sponsorship, television/media, and retail merchandising.
  • Operating Loss: The company reported a loss of £8.64M (2023: £8.93M), despite an increase in revenue. This was influenced by:
    • Higher staff costs (£30.59M vs. £25.61M).
    • Increased amortization of player contracts (£3.98M vs. £2.71M).
    • Significant profit on disposal of players (£8.81M vs. £0.3M), helping offset operating expenses.

2. Major Revenue Streams

Revenue Source2024 (£'000)2023 (£'000)% Change
Gate Receipts11,64110,726+8.5%
Television & Media10,44310,083+3.6%
Sponsorship & Royalties2,3911,620+47.6%
Conference, Banqueting, Catering8,7138,429+3.4%
Retail & Merchandising2,9972,721+10.1%
Other1,9671,964~0%

3. Expenses and Costs

  • Staff costs increased significantly (£30.59M vs. £25.61M), possibly due to new player signings or increased wages.
  • Depreciation increased to £2.15M (2023: £1.85M).
  • Bank loan interest payments appeared in 2024 (£626,000 vs. £0 in 2023), suggesting the company took on debt.

4. Player Contracts and Transfers

  • Player contract amortization (cost of contracts spread over time) increased to £3.98M (2023: £2.71M).
  • Profit from player sales increased significantly to £8.81M (2023: £0.3M).
  • Trade creditors for player acquisitions rose to £3.48M (2023: £2.94M).
  • Future transfer commitments rose to £4.77M (2023: £3.76M).

5. Financial Commitments and Liabilities

  • Short-term creditors increased to £54.37M(2023: £43.51M), due to:
    • Bank overdraft (£8.24M vs. £0M).
    • Increased parent company funding (£19.82M vs. £18.05M).
    • Higher accruals and deferred income (£17.11M vs. £17.34M).
  • Long-term creditors jumped to £19.26M (2023: £8.18M), including deferred taxation (£14.49M vs. £4.41M).

6. Investment and Asset Valuation

  • Stadium of Light revaluation increased net book value to £300.90M (from £91.16M).
  • Total tangible assets rose significantly to £338.52M (2023: £125.28M) due to revaluations.
  • Investment in subsidiaries remained constant at £1.08M.

7. Pensions and Defined Benefit Scheme

  • The club is part of the Football League Pension Scheme, with a £118.19M notional deficit (2023: £92.90M).
  • Total pension obligations rose to £137,000 (2023: £101,000).

8. Contingent Liabilities

  • Maximum contingent liability related to future player payments was £29.60M (2023: £24.69M).
  • Payments depend on player/team performance and third-party contractual obligations.

9. Related Party Transactions

  • Parent company Mercator Investments injected £19.82M (2023: £18.05M) in shareholder funding, with plans to convert this into equity.
  • The company provided services worth £29,317 to its charity, The Foundation of Light.

10. Ultimate Controlling Party

  • Mercator Investments Limited (Cayman Islands) controls the company, with K. Louis-Dreyfus as the ultimate controlling party.

Overall Assessment

  • Financial Stability: Revenue grew, but losses remain substantial.
  • Investment and Asset Strength: The Stadium of Light’s revaluation strengthened the balance sheet.
  • Debt and Liquidity Concerns: Rising short-term and long-term liabilities indicate higher debt reliance.
  • Player Trading: Transfer profits improved financial performance.
  • Parent Support: Mercator Investments continues to support the club, likely converting debt into equity.
The re-evaluation of the stadium is interesting, the changed the analysis method and come up with 300m. Increasing the value of the club for future investors!
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You might want to read what I said again, or I’ll paraphrase for you, ‘stop moaning if we don’t spend big money, it’s not yours money’
I mean that’s not what you said was it. That’s actually the opposite of what you said. Fair play for backtracking :lol:
 
Cos it’s not possible to bank roll a club and have big losses like you could in the past. Get with the times.
How have the Saudis managed it? And Forest, Wolves, Ipswich, Leicester, Birmingham, Wrexham in fact I can’t think of many clubs who haven’t made a loss. How many can you name?
 
How have the Saudis managed it? And Forest, Wolves, Ipswich, Leicester, Birmingham, Wrexham in fact I can’t think of many clubs who haven’t made a loss. How many can you name?
It's a massive risk to do it in the championship, fail and you could be looking at years to recover .

I think Stoke threw a bit of money around and now are trying to slowly rebuild .
 

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