CCFC 2018/2019 Accounts Thread!

[mark82]

Yeah I saw that referenced in the club's release on the website, pretty disappointing and certainly not SISU backing Robins with everything they've got, even if it is just a reality of the world

We're top of the league. I think he's been backed to an appropriate level (this year at least, which I appreciate isn't the year the accounts cover).

To be fair, it's the first time they've taken a significant amount out for some time (if ever). That money will probably come back this year or next. The best thing we could possibly do is be able to pay off all outstanding loans, but short of a year in the premier league I'd suggest that's unlikely.

 

[mark82]

employee numbers went up because the number of stewards went up from 209 to 227

in theory non cancellable leases in the future should be disclosed in the accounts so the reader can see what costs a business is committed to next year etc

Presumably they aren't in these accounts as it wasn't known at the end of the accounting period?

 

[SlowerThanPlatt]

My brief comments are

Good to see the finances looking better however it is entirely based on significant transfer sale money. Can that be achieved every year ?

2019/20 will show significant transfer income so those results should be reasonable too except for a likely downturn in turnover

However look behind the transfer income and it shows a significant increase in the operating costs. Which means the club is not self financing without those transfer fees. That is despite an increase in turnover.

Apparently much of the increase in operating costs is due to promotion to L1, so just how much can we expect those costs to increase with promotion to the Championship?

The directors report and audit report both refer to the ground situation. Personally i cant help thinking that it is preparing for being at St Andrews next year. (and yes they have to do what is necessary to keep the club alive i realise that)

The most interesting pages of the Otium accounts are the last two pages - management information. I cant help thinking those pages were never meant to be published. Tells all and sundry how the cost of operating is arrived at and is never usually published. It has got to be a big error by someone

They have changed auditors from BDO.

To get a break down of the amounts owed to ARVO etc you need to look at the SBS&L accounts. ARVO have had £260k of one of their loans back

All the loans still incur interest, no reason why they shouldnt if the owners choose to, but it has not been paid but has been added to the liabilities

Otium has assets of £1.7m but liabilities of £21.4m, without support from the owners or player sales the club is insolvent, (same could be said for a lot of clubs)

Wages costs for the whole business show an increase of £450k to £5.3m despite saving £220k in pensions costs

Interest costs have increased from 1.87m to 2.095m

No new loans from the owners in this year

Cash flow shows a decrease in funds available in the bank of 625k year on year. Which further backs up that CCFC have to sell big to survive

Club spent £1m on new players in the year financed by the Maddison & McNulty sales. The rest of the money went on running costs except for £260k (see above). They also spent £114k of equipment

What this basically says is that in L1 CCFC has to sell players to the tune of £4m to simply break even in terms of profit. That even with those profits cash flow has been squeezed

thats my take on it

I know it’s all hypothetical but if we need to sell £4m worth of players in L1 to break even how much would we need to sell in the Championship at St. Andrews?

 

[Sky_Blue_Dreamer]

Have they always broken things down to the level of heating, printing and transport etc? I can't remember seeing that.

No, that's usually just kept in house and the condensed version made publically available. Guess it gives a hint of more transparency (EDIT: ) or as has been pointed out it's an error.

 

[oldskyblue58]

Presumably they aren't in these accounts as it wasn't known at the end of the accounting period?

but they were taken out in july and form part of the assessment of going concern for accounts dated feb 2020. not unreasonable to expect disclosure

 

[Deleted member 5849]

pick a year then i've got most of them

I thought I had?

 

[oldskyblue58]

I know it’s all hypothetical but if we need to sell £4m worth of players in L1 to break even how much would we need to sell in the Championship at St. Andrews?

no idea. going to depend how much more wages and player costs go up above the income available from sales and efl

 

[mark82]

There's about a 6m jump in income from the EFL/Premier League with being in the Championship.

 

[shmmeee]

I’m starting to think each league should set a wage cap of whatever the TV settlement is. The idea we could go up and not be able to compete financially is ridiculous. Why even have promotion and relegation?

 

[Liquid Gold]

I know it’s all hypothetical but if we need to sell £4m worth of players in L1 to break even how much would we need to sell in the Championship at St. Andrews?

0 if we didn't change our playing budget

 

[Grendel]

Shows we have a better set up than most

Christ

 

[matesx]

There's about a 6m jump in income from the EFL/Premier League with being in the Championship.

good job

 

[fernandopartridge]

Audit fees rose significantly according the M.I. - wonder if that's why they've now changed from BDO?

 

[Grendel]

I’m starting to think each league should set a wage cap of whatever the TV settlement is. The idea we could go up and not be able to compete financially is ridiculous. Why even have promotion and relegation?

A wage cap on what though? If a club has 10 times our turnover it should surely have 10 times the cap?

 

[shmmeee]

A wage cap on what though? If a club has 10 times our turnover it should surely have 10 times the cap?

No it shouldn’t. That’s my point. Fair enough if they get a windfall or whatever spend it on fees but I think everyone should have roughly the same wage cap to make the league competitive. Not perfect by any means but is this?

 

[Nick]

Good to see the Telegraph's analysis is just a copy and paste from the official site.

 

[Grendel]

No it shouldn’t. That’s my point. Fair enough if they get a windfall or whatever spend it on fees but I think everyone should have roughly the same wage cap to make the league competitive. Not perfect by any means but is this?

The cap would surely though be established by looking at the biggest earners?

 

[tisza]

I thought I had?

 

[SkyBlueDom26]

No it shouldn’t. That’s my point. Fair enough if they get a windfall or whatever spend it on fees but I think everyone should have roughly the same wage cap to make the league competitive. Not perfect by any means but is this?

Oh dear

 

[shmmeee]

Oh dear

Soiled yourself again?

 

[SkyBlueDom26]

Soiled yourself again?

Weird geeza

 

[shmmeee]

The cap would surely though be established by looking at the biggest earners?

Why surely? This is a human invented sport with human invented rules. There’s no law of nature that says sport has to be determined by business success off the pitch.

Give everyone in the same league the same wage bill. Let teams have nice grounds and training facilities and the rest of they’ve got money to burn. I honestly don’t see the issue aside from some child like attachment to the current system which is clearly ruining the game.

 

[SkyBlueCRJ]

No it shouldn’t. That’s my point. Fair enough if they get a windfall or whatever spend it on fees but I think everyone should have roughly the same wage cap to make the league competitive. Not perfect by any means but is this?

Calm down Corbyn.

 

[Warwickhunt]

Being promoted to the championship will focus people

 

[shmmeee]

Weird geeza

The human body is weird but you’ll get the hang of it little fella. Couple more years and you’ll be all grown up.

 

[shmmeee]

Calm down Corbyn.

You’re right. In fact I think the whole idea of team sports is a little too “Corbyn”. One on ones only from now on like Adam Smith intended.

 

[SkyBlueDom26]

The human body is weird but you’ll get the hang of it little fella. Couple more years and you’ll be all grown up.

Socialism has no place in football commie, we get you're still upset about the eleciton

 

[Nick]

Keep your politics bullshit to the off topic borefests

 

[shmmeee]

Socialism has no place in football commie, we get you're still upset about the eleciton

BRB just off to tell Bill Shankly a child on the Internet says he’s wrong

Keep your politics bullshit to the off topic borefests

He started it Sir!

 

[SkyBlueDom26]

BRB just off to tell Bill Shankly a child on the Internet says he’s wrong

View attachment 14246



He started it Sir!

You really are an idiot.... Get over it

 

[shmmeee]

You really are an idiot

9 minutes and that’s what you come up with?

See me after class.

 

[Nick]

Fuck off you pair of pricks

 

[Nick]

The telegraph are now spinning it as that we are in negotiations to return to the Ricoh and they can't see why that is misleading.

 

[mark82]

The cap would surely though be established by looking at the biggest earners?

I think he's saying it should be based on the fixed income that all (most) clubs get. The basic rate plus solidarity payment.

 

[shmmeee]

I think he's saying it should be based on the fixed income that all (most) clubs get. The basic rate plus solidarity payment.

Exactly. There’s still an element of inequality as you get more for finishing higher up the league and it doesn’t stop you spending on academies or whatever perks you want to offer signings but the day to day costs would be covered for every club for the season. I just think you shouldn’t be too poor to be promoted.