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19/20 Accounts (1 Viewer)

  • Thread starter Frostie
  • Start date May 31, 2021
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Frostie

Well-Known Member
  • May 31, 2021
  • #1
£3.4m loss. Not unexpected.
Will wait for @oldskyblue58 to do his forensic examination!

 

SlowerThanPlatt

Well-Known Member
  • May 31, 2021
  • #2
https://www.ccfc.co.uk/contentassets/d232ffe3dbcd4d45be86f1c6f66a6475/otium-accounts-2020.pdf
 

SlowerThanPlatt

Well-Known Member
  • May 31, 2021
  • #3
Promotion bonuses over £700k? Is that normal?
 
H

HuckerbyDublinWhelan

Well-Known Member
  • May 31, 2021
  • #4
SlowerThanPlatt said:
Promotion bonuses over £700k? Is that normal?
Click to expand...
Think so, I’m sure we’re bonus heavy to encourage performance. They restructured the bonus scheme a few years back
 
Reactions: wingy

Grendel

Well-Known Member
  • May 31, 2021
  • #5
It looks horrendous
 

SlowerThanPlatt

Well-Known Member
  • May 31, 2021
  • #6
Grendel said:
It looks horrendous
Click to expand...

Yes it does make me laugh when people think we’re in a position to hold out for £10m for players, as if they’re worth that anyway.
 
Reactions: torchomatic and Sick Boy

Winny the Bish

Well-Known Member
  • May 31, 2021
  • #7
- My very basic skills seem to suggest that playing at St Andrews cost us £750k more than whatever we pay for the Ricoh
- Paid £2.5m in transfers last summer, received £1.5m in sell-ons, and paid £700k in promotion bonuses
- Match receipts were halved playing at St Andrews
- Wages went up by £1m

Playing at St Andrews was NOT viable for the club. Judging by the numbers, we would've wanted a return to the Ricoh just as much as Wasps.
 

Grendel

Well-Known Member
  • May 31, 2021
  • #8
SlowerThanPlatt said:
Yes it does make me laugh when people think we’re in a position to hold out for £10m for players, as if they’re worth that anyway.
Click to expand...

These owners need to be thanked for really making the club financially stable.

COVID has little impact on these figures. It’s catastrophic mismanagement
 
Reactions: Kieranp96
R

rexo87

Well-Known Member
  • May 31, 2021
  • #9
Think it shows we are very likely to sell one of our prized assets (Hamer or Ohare). Another thing I’ve picked up on is that it cost us nearly 800k more to rent at St Andrews than we were doing at Ricoh originally. Could be wrong


Sent from my iPhone using Tapatalk
 
B

Brighton Sky Blue

Well-Known Member
  • May 31, 2021
  • #10
Grendel said:
It looks horrendous
Click to expand...

Equally I don’t think anyone is surprised by the numbers nor do I think many clubs in our league will have vastly different general pictures
 
Reactions: torchomatic and TwistAndShoutCCFC1987

Grendel

Well-Known Member
  • May 31, 2021
  • #11
Brighton Sky Blue said:
Equally I don’t think anyone is surprised by the numbers nor do I think many clubs in our league will have vastly different general pictures
Click to expand...

Without player sales we’d have lost far more than many clubs I’d guess - COVID had little impact remember
 

Winny the Bish

Well-Known Member
  • May 31, 2021
  • #12
Brighton Sky Blue said:
Equally I don’t think anyone is surprised by the numbers nor do I think many clubs in our league will have vastly different general pictures
Click to expand...
Covid only effected the last couple months of that season.
 
R

rexo87

Well-Known Member
  • May 31, 2021
  • #13
Also, wages increased by 1M from Ricoh to St Andrews?!


Sent from my iPhone using Tapatalk
 

Grendel

Well-Known Member
  • May 31, 2021
  • #14
rexo87 said:
Also, wages increased by 1M from Ricoh to St Andrews?!


Sent from my iPhone using Tapatalk
Click to expand...

That’s no surprise gross wages I guessed at £7m
 
S

skyblu3sk

Well-Known Member
  • May 31, 2021
  • #15
If you look at the amount accrued in interest at circa £2m and the bonus structure at £700k I don't think they are all that bad... although next year will be worse...
 
R

rexo87

Well-Known Member
  • May 31, 2021
  • #16
Grendel said:
That’s no surprise gross wages I guessed at £7m
Click to expand...

But that works out as deliberate investment in the playing squad by the owners surely?


Sent from my iPhone using Tapatalk
 
R

rexo87

Well-Known Member
  • May 31, 2021
  • #17
Club also believes they can re-coup some losses from pandemic through business insurance


Sent from my iPhone using Tapatalk
 
B

Brighton Sky Blue

Well-Known Member
  • May 31, 2021
  • #18
Grendel said:
Without player sales we’d have lost far more than many clubs I’d guess - COVID had little impact remember
Click to expand...

Yes, but we made those sales as it’s part of the recruitment strategy. There are even bigger basket cases in this division which collectively is probably the least financially stable in Europe
 

Grendel

Well-Known Member
  • May 31, 2021
  • #19
rexo87 said:
But that works out as deliberate investment in the playing squad by the owners surely?


Sent from my iPhone using Tapatalk
Click to expand...

Funded by selling players
 

Grendel

Well-Known Member
  • May 31, 2021
  • #20
Brighton Sky Blue said:
Yes, but we made those sales as it’s part of the recruitment strategy. There are even bigger basket cases in this division which collectively is probably the least financially stable in Europe
Click to expand...

League 1?
 
B

Brighton Sky Blue

Well-Known Member
  • May 31, 2021
  • #21
skyblue93 said:
Covid only effected the last couple months of that season.
Click to expand...

Even excluding COVID most Championship clubs are in a dire financial state
 
Reactions: Skyblueweeman

Grendel

Well-Known Member
  • May 31, 2021
  • #22
Brighton Sky Blue said:
Even excluding COVID most Championship clubs are in a dire financial state
Click to expand...

This isn’t championship accounts
 
B

Brighton Sky Blue

Well-Known Member
  • May 31, 2021
  • #23
Grendel said:
League 1?
Click to expand...

How many L1 clubs have pulled ground selling scams to get around FFP?
 
R

rexo87

Well-Known Member
  • May 31, 2021
  • #24
Grendel said:
Funded by selling players
Click to expand...

Money from player sales was less than the year before but wages increased by a million. Surely that’s investment?


Sent from my iPhone using Tapatalk
 

Grendel

Well-Known Member
  • May 31, 2021
  • #25
Brighton Sky Blue said:
How many L1 clubs have pulled ground selling scams to get around FFP?
Click to expand...

FFP isn’t in league 1
 

SlowerThanPlatt

Well-Known Member
  • May 31, 2021
  • #26
Wilson being sold to Newcastle came just at the right time by the looks of it.
 

Grendel

Well-Known Member
  • May 31, 2021
  • #27
SlowerThanPlatt said:
Wilson being sold to Newcastle came just at the right time by the looks of it.
Click to expand...

Good point
 
W

wingy

Well-Known Member
  • May 31, 2021
  • #28
Just need Madison to be on the move this summer.
 
H

HuckerbyDublinWhelan

Well-Known Member
  • May 31, 2021
  • #29
SlowerThanPlatt said:
Wilson being sold to Newcastle came just at the right time by the looks of it.
Click to expand...
And promotion, could you imagine the figures if we were playing in league one last season
 
Reactions: CCFCSteve
B

Brighton Sky Blue

Well-Known Member
  • May 31, 2021
  • #30
Grendel said:
This isn’t championship accounts
Click to expand...
Grendel said:
FFP isn’t in league 1
Click to expand...

It is fair to assume that the financial picture now is not vastly different to what it was then and we are now in a league where most clubs are running bigger losses. We aren’t really atypical here
 
Reactions: Evo1883

SlowerThanPlatt

Well-Known Member
  • May 31, 2021
  • #31
wingy said:
Just need Madison to be on the move this summer.
Click to expand...
The club has no further significant stake, think it may be a small %development fee
 

Frostie

Well-Known Member
  • May 31, 2021
  • #32
Brighton Sky Blue said:
Yes, but we made those sales as it’s part of the recruitment strategy. There are even bigger basket cases in this division which collectively is probably the least financially stable in Europe
Click to expand...

Absolutely. It's a risky strategy though.

Next years accounts will be an interesting one. We didn't have a big sale in the year just gone (just the Wilson sell on?) + the Covid effect, no crowds etc. + further increased wage bill.
Will the uplift in TV money cover all that?

SlowerThanPlatt said:
Wilson being sold to Newcastle came just at the right time by the looks of it.
Click to expand...

That'll be in next year's won't it?
 
Reactions: SBbucks

Evo1883

Well-Known Member
  • May 31, 2021
  • #33
Since those accounts . We will be bringing in more than 12 plus million in solidarity and TV when you include the upcoming season .. something league 1 never afforded us at all .

Lose 3.5 million , gained 6/7 million plus .

Sadly the pandemic happened in between all this .

If we never got promoted then yes it's a big problem
 

Evo1883

Well-Known Member
  • May 31, 2021
  • #34
Frostie said:
Absolutely. It's a risky strategy though.

Next years accounts will be an interesting one. We didn't have a big sale in the year just gone (just the Wilson sell on?) + the Covid effect, no crowds etc. + further increased wage bill.
Will the uplift in TV money cover all that?



That'll be in next year's won't it?
Click to expand...

The solidarity payment in league 1 is around 6/700k isn't it?

Championship its several million plus much more TV money

Shows the importance of remaining in this division
 
B

Brighton Sky Blue

Well-Known Member
  • May 31, 2021
  • #35
Frostie said:
Absolutely. It's a risky strategy though.

Next years accounts will be an interesting one. We didn't have a big sale in the year just gone (just the Wilson sell on?) + the Covid effect, no crowds etc. + further increased wage bill.
Will the uplift in TV money cover all that?
Click to expand...

We gained approx £5.5m in base payments plus an extra £650k from TV appearances. That all in and another £3 million loss seems quite plausible
 
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