CCFC 2018/2019 Accounts Thread! (1 Viewer)

[torchomatic]

Accounts just released up to May 2019 and we show a small profit of £69K thanks to sales of Madison to Leicester and McNulty to Reading.

 

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[torchomatic]

NEWS: Coventry City publish accounts for year ended 31st May 2019

 

[torchomatic]

I wonder when we last showed a profit, however small?

 

[Razzle Dazzle Dean Gordon]

Should fund a few handbags.

It's good to see a profit recorded but the figures in the article would suggest we have to make significant sales each season to remain anywhere near breakeven.

 

[mr_monkey]

Should fund a few handbags.

It's good to see a profit recorded but the figures in the article would suggest we have to make significant sales each season to remain anywhere near breakeven.

So just like most professional football teams in the world

 

[SkyBlueCRJ]

Should fund a few handbags.

It's good to see a profit recorded but the figures in the article would suggest we have to make significant sales each season to remain anywhere near breakeven.

More or less every single club in the English football pyramid and beyond is in the same boat in that respect.

 

[mark82]

Should fund a few handbags.

It's good to see a profit recorded but the figures in the article would suggest we have to make significant sales each season to remain anywhere near breakeven.

That's the stated model though isn't it? It's the only way we can operate sustainably whilst remaining competitive.

 

[Razzle Dazzle Dean Gordon]

So just like most professional football teams in the world

I wouldn't know, i don't study any other team's accounts. I haven't looked at these yet but if we made a profit of £4/5m having spent £800k i would be concerned that we'll struggle to make sales of those amounts every season.

I recognise that nearly every team has to sell to balance the books, i just didnt realise quite how stark the amounts were for us.

 

[CovInEssex]

Interestingly, you'd imagine we would've also turned a profit this season had we been at the Ricoh - which would be some achievement when a lot of promotion chasers usually operate on a loss.

 

[fernandopartridge]

NEWS: Coventry City publish accounts for year ended 31st May 2019

Not really very positive is it? £4m + transfer profit mostly covering losses, not sustainable at all.

 

[Cv3cov]

Is this the first time they’ve issued explanations to how figures arrived at?

 

[Sky Blue Pete]

Interestingly, you'd imagine we would've also turned a profit this season had we been at the Ricoh - which would be some achievement when a lot of promotion chasers usually operate on a loss.

Although no idea yet. Way above estimates l crowds I would have thought and the McCallum sale

 

[skyblue1991]

Excellent news! I cannot imagine there being many League 1 clubs in profit.

 

[chiefdave]

Not really very positive is it? £4m + transfer profit mostly covering losses, not sustainable at all.

How many clubs make a profit before transfers? Not to mention its the clubs stated business model. Of course it would be brilliant if we were minions in profit without selling anyone but that's virtually impossible.

 

[Razzle Dazzle Dean Gordon]

Interestingly, you'd imagine we would've also turned a profit this season had we been at the Ricoh - which would be some achievement when a lot of promotion chasers usually operate on a loss.

Im not sure we have made enough from sales this season for that but if so it would be pretty encouraging for the long term future of the club.

 

[chiefdave]

“As mentioned in the accounts, the board continues to explore the possibilities of a return to Coventry as soon as we are able to – it is our home, the City we are proud to represent and the place that everyone agrees that we should be playing.

“However, in the absence of any agreement being reached for a return, would seek to implement the option to continue the ground share at St. Andrew’s to ensure the fulfilment of our fixtures.”

Been a few questions about where we will play next season but it looks like, unless Wasps change their stance, we have the option to stay at St Andrews.

 

[SkyBlueCRJ]

Im not sure we have made enough from sales this season for that but if so it would be pretty encouraging for the long term future of the club.

McCallum, Bayliss, Chaplin?

 

[mr_monkey]

I wouldn't know, i don't study any other team's accounts. I haven't looked at these yet but if we made a profit of £4/5m having spent £800k i would be concerned that we'll struggle to make sales of those amounts every season.

I recognise that nearly every team has to sell to balance the books, i just didnt realise quite how stark the amounts were for us.

The issue is a lot of clubs don't balance the books and end up either getting in major shite (like bury, Bolton etc) or bailed out by their owners (as we used to). As much as I dislike sisu and what they have done to our club the fact we have made a small profit is something to be celebrated

 

[Razzle Dazzle Dean Gordon]

McCallum, Bayliss, Chaplin?

Good point, i'd forgotten Bayliss. Let's hope the academy and recruitment team can keep turning up enough gems.

 

[Liquid Gold]

You know full well this is going to trigger the fuck out of some.

The fact we've improved on the pitch while managing to avoid losing money is a credit to all involved. Robins and Boddy in particular.

 

[mark82]

McCallum, Bayliss, Chaplin?

About 6.5 million between them if figures quoted are to be believed? Obviously spent some of that but should help.

 

[Razzle Dazzle Dean Gordon]

The issue is a lot of clubs don't balance the books and end up either getting in major shite (like bury, Bolton etc) or bailed out by their owners (as we used to). As much as I dislike sisu and what they have done to our club the fact we have made a small profit is something to be celebrated

Im in complete agreement to be honest, being a natural pessimist however it struck me that we seem to need to generate alot of money each season via sales, 4/5m at this level is quite a bit of value to find in a side.

 

[NorthernWisdom]

Not really very positive is it? £4m + transfer profit mostly covering losses, not sustainable at all.

Not unsurprising though

 

[CovInEssex]

Couple of big FA Cup games in this seasons as well - could be the difference between green and black.

 

[skybluesam66]

the higher up the pyramid you are, the less relevant £4m is

in league 2 - that is probably half your team
in the championship it could be half a player

 

[mark82]

I would prefer owners that keep us on an upward path but on an even keel , over communication

Which they currently are, right?

 

[Nick]

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

 

[NorthernWisdom]

How many clubs make a profit before transfers? Not to mention its the clubs stated business model. Of course it would be brilliant if we were minions in profit without selling anyone but that's virtually impossible.

The problem is that's what we needed to do at the Ricoh. We're going to need more this year to cover, and the issue then is having enough assets to sell becomes more of a chance.

We need to grow our income from other sources, so at the very least the amount we need to raise from transfer sales doesn't need to be as much, so we're less likely to be pushed into a fire sale.

 

[Evo1883]

Good to see the club running within its means somewhat.

Better than the days of losing 8/9 Mill a year for sure

 

[NorthernWisdom]

I can't be bothered to check, but if somebody has the answer of how turnover compares to our relegation season, I'd be grateful

 

[CovInEssex]

Bad and doubtful debts 4,796

Who owes the club 5 grand then...hands up

 

[mark82]

Who owes the club 5 grand then...hands up

Did we sell anyone to Bury, or another club in financial trouble?

 

[torchomatic]

Good point, i'd forgotten Bayliss. Let's hope the academy and recruitment team can keep turning up enough gems.

We've all forgotten Bayliss!

 

[mark82]

We've all forgotten Bayliss!

Trevor Bayliss??

 

[NorthernWisdom]

Did we sell anyone to Bury, or another club in financial trouble?

Stokes?