SAFC annual accounts OUT NOW


Operating loss before player amortisation and profit on player sales is £13 million:

Gross profit 35 less Operating expenses (48) = (13) = broadly cash operating losses.

Then player amortisation of (4), making losses of £17 million before player sales of £9 million to reduce the reported loss to 8 million.

Not my strength… but if player amortisation is the revaluing of players then would it be very conservative to suggest our squad was worse £4 less in July 24 than it was in July 23
 
I'm purely guessing here but maybe they're now valuing it at how much it would cost to build a new one on a new site rather than how much they could sell it for?

Can't see any other justification for £300m since there's absolutely no way it could be sold for that much - can't think there's many other people or companies that would be looking to buy a 48,000 capacity football stadium in Sunderland? Beyond that they'd be looking at selling the land to a housing developer to who the stadium would be a liability and something they'd have to pay to knock down and clear!
Correct!

The revaluation followed the RICS Appraisal and Valuation Method

The valuation was based on a depreciated replacement cost basis, meaning it considered the cost of replacing the asset while accounting for depreciation

Creative and useful for raising cash or cashing out
What page are people getting the 300 million figure from?

The closest I can see is page 35 which says the valuation of tangible assets including the stadium went from 91m to 157m, with the re-evaluation being 66.7m

Where's 300 million come from?
Page 34 table 11, tangible assets > Stadium of light > group as at 31 July > 300,906
 
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At a very quick glance, uur balance sheet looks a lot healthier than last year which is a snapshot of the company's health. Our losses, while disappointing also seem down year on year. Albeit not by much.

Await GOMs better analysis.
 
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So we have lost around 16.5m in two years and the rules say we can lose 40m over three!

Looks like we're doing very well indeed.

WBA will probably see a points deduction coming their way over the next year or two.
 
Feels like the club is on a much more stable footing than it has been. Fast forward another year and we’ll have the Clark sale not to mention what seems to be like better commercial revenue coming in on the back of the Hummel deal and everything else that Bruce has been involved in since joining the club.

As others have said, we now have a squad full of assets, any one of which could be sold to cover our operating losses. That’s the famous model at work. Anyone complaining about that should rewind to the days of having Jack Rodwell et al on the books, sucking every penny out of the club.

The next big challenge is to regroup and rebuild if we don’t go up this year but the recruitment team will back themselves to do that and while they haven’t got everything right, on the whole, I think they’ve proven they deserve a bit of trust to do that.
 

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