Glimmer of light for SISU... breaking even at least last year and this (1 Viewer)

[spider_ricoh]

I've had it on good authority that CCFC will at least avoid making a loss this year, despite the boycott. Yes crowds are down 77%, but with the unexpected windfalls of the Arsenal game (worth over £1m) and the Clarke sale, in cojunction with the slashed cost base, should keep the club in balance for the financial year up to 31st March 2014. As for the current year, with the Wilson sale, do not expect quite so much reticence from SISU/Otium/ARVO/SBSLL/CCFC next time the accounts are due to be filed - we should at least break even again.

It's actually disappointing from a NOPM stance, but hey ho, at least the judge saw through the bullshit.

Can't reveal the source but it is from someone who is clued up on accounts generally and in the know with those at the club.

 

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[wingy]

Not a chance .

 

[Godiva]

Is this Otium or SBS&L?
Or the group?

I find it hard to believe the group can break even in the year ending Mar 31st, 2014.
All the costs of administration and liquidation of Limited/Holdings will make an impact.
This year may be different though.

 

[spider_ricoh]

We'll wait and see - but I've heard that from knowledgeable people that I respect with pretty close links to the club.

 

[bigfatronssba]

I find this very unlikely.

Attendance revenues alone must be down nearly 85%, then there's lack of sponsors, decrease in hospitality revenue, decrease in merchandise sales, administrators fees, the £1m bond to the FL, the £590k to acl.

The Clarke sale and the Arsenal game may have just covered the decrease in attendances, but it won't have covered everything.

 

[skybluetony176]

Didn't ARVO have to pump a load of cash in as share issues so the club wouldn't be penalised for not meeting FFP rules? Surely this would also make the club break even at the same time?

 

[wingy]

I find this very unlikely.

Attendance revenues alone must be down nearly 85%, then there's lack of sponsors, decrease in hospitality revenue, decrease in merchandise sales, administrators fees, the £1m bond to the FL, the £590k to acl.

The Clarke sale and the Arsenal game may have just covered the decrease in attendances, but it won't have covered everything.

what was the squad wage bill ,£2-2.5M. meaning based on a turnover of £4M.

Add on all the other costs and Academy .

with Clarke and cup money they may have just covered the squad cost,losses any where between £2-3 M. could be covered by equity injections ,so in that sense possible .

 

[stupot07]

Not a chance .

Correct - £500k for the academy, £4m administration costs, £1.8m interest charges, £500k rent/matchday costs, travel, utlility bills at Ryton, before you even factor in the wage bill for players, management, stewards, shop staff, Ryton ground staff, tea lady, etc,

Our turnover will be £4-£4.5m tops.


Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors

 

[No future with SISU]

I've had it on good authority that CCFC will at least avoid making a loss this year, despite the boycott. Yes crowds are down 77%, but with the unexpected windfalls of the Arsenal game (worth over £1m) and the Clarke sale, in cojunction with the slashed cost base, should keep the club in balance for the financial year up to 31st March 2014. As for the current year, with the Wilson sale, do not expect quite so much reticence from SISU/Otium/ARVO/SBSLL/CCFC next time the accounts are due to be filed - we should at least break even again.

It's actually disappointing from a NOPM stance, but hey ho, at least the judge saw through the bullshit.

Can't reveal the source but it is from someone who is clued up on accounts generally and in the know with those at the club.

A loss is what they are going to make as they owe £40m to SISU at about 10% = £4m interest without the wages/overheads. Add them on and then look at what the took in and a loss is what you are looking at. I have met people who work at the club and they are upbeat about the club. Speak to their familys and you find a different outlook.

 

[Samo]

I've had it on good authority that CCFC will at least avoid making a loss this year, despite the boycott. Yes crowds are down 77%, but with the unexpected windfalls of the Arsenal game (worth over £1m) and the Clarke sale, in cojunction with the slashed cost base, should keep the club in balance for the financial year up to 31st March 2014. As for the current year, with the Wilson sale, do not expect quite so much reticence from SISU/Otium/ARVO/SBSLL/CCFC next time the accounts are due to be filed - we should at least break even again.

It's actually disappointing from a NOPM stance, but hey ho, at least the judge saw through the bullshit.

Can't reveal the source but it is from someone who is clued up on accounts generally and in the know with those at the club.

You should understand spin when you hear it Spider.

 

[CCFC PimpRail]

Sounds like a load of waffle that is only being made public to try to make the club's imminent sale easier. SISU deserve a medal for turning around this ailing business, all they need to do now is restore the fan base by 300% and justify spending £25m on a new stadium...

 

[coop]

Have you took into consideration the £590k they still owe acl and the administrators wages

 

[italiahorse]

Impossible on a straight "Profit and Loss" statement :facepalm: