oldskyblue58
CCFC Finance Director
Something on a post by Brighton Sky Blue got me thinking about what it was Prozone brought to the SBS&L Group and what RR got out of being involved.
SBS&L owned the Prozone Group up until 07/06/11
We have always assumed that Prozone Group made good profits.
Well there are 4 companies in that sub Group
Prozone Group (holding company)
Prozone Sports Limited (trading company owned by Prozone Group)
Prozone Media Limited (dormant didn't trade)
Prozone Sports international Limited (dormant didn't trade)
Prozone Group has had NO trading activity in the years to 31/05 2009,2010 or 2011... so no profits there to contribute. Interestingly that company did owe £1,563,141 to SBS&L as at 31/05/11 the company and its debt were acquired on 07/06/11 by SUP SAS. That I take to mean that SUP repaid the £1.5m to SBS&L and took on the debt that Prozone Group owed themselves. The other side of this is £1,563,141 was then owed by SBS&L to Arley Group PLC (owned by RR)..... would guess this is the value of Prozone to RR when he brought it in to the party (debt matches a liability)
Prozone Sports Limited, appears to be the only trading entity. In 2009 it made £312k in 2010 £205K and in 2011 it lost £73k..... so no great positives to SBS&L there. At 31/05/11 PSL had accumulated £2m in tax losses. Which suggests it never was that profitable
At 31/05/11 PSL owed SBS&L £2.2m. That debt was also transferred to SUP on 07/06/11. I assume SBS&L received payment for this amount on the transfer
It provided £80K pa in sports analysis services to CCFC and CCFC owed PSL £93k at 31/05/11
It paid Arley Group PLC the following amounts for RR's services 2009 £69K 2010 £75k and 2011 £123k. During those same years Arley Group invoiced CCFC H for RR's services 2008 £169k 2009 £226K 2010 £228K 2011 No details given but guess at £190k
interest accrued on SBS&L debt to Arley Group (RR) 2009 £154K 2010 £156K 2011 £130k (guess because no details in 2011 accounts)
Thoughts .....
07/06/11 SBS&L shifted some debt on by transferring the PG £1.5m to someone else so that meant it either repaid Arley or SUP now owed Arley. Either way SBS&L lost an asset and an equal value liability from its balance sheet
07/06/11 it looks like SBS&L got repaid by or is owed by SUP £2.2m but it also means that of the £29.7m put into SBS&L by SISU that at least 2.2m went into PSL
RR or Arley have taken from the SBS&L Group (including CCFC) £1,080k for RR's services, £440K in interest and repaid £1.5m in just over 3 years.
Have seen it said that RR had the right idea..... but clearly he let the overheads build and losses mount. We never could have afforded to bring in the likes of Carroll, Henderson etc unless that brought immediate success which in turn enhanced the individual sell value..... that was not guaranteed and both players could have disappeared in the championship if with us.
Have seen it said that he based it on youth, maybe but it was bought in youth not from our academy. Our academy was decent enough long before he came and wasnt he considering shutting it at one point ? (might be wrong on that). It is great having a plan but it has to be affordable.
In the meantime it looks to me that RR was pretty well rewarded and that Prozone didnt actually bring that much to the group until we got the sales preceeds (and we cant be sure of that value).
Just how good was RR and his Board of Directors for CCFC?
Ok .... thats off my chest ..... back to the football
SBS&L owned the Prozone Group up until 07/06/11
We have always assumed that Prozone Group made good profits.
Well there are 4 companies in that sub Group
Prozone Group (holding company)
Prozone Sports Limited (trading company owned by Prozone Group)
Prozone Media Limited (dormant didn't trade)
Prozone Sports international Limited (dormant didn't trade)
Prozone Group has had NO trading activity in the years to 31/05 2009,2010 or 2011... so no profits there to contribute. Interestingly that company did owe £1,563,141 to SBS&L as at 31/05/11 the company and its debt were acquired on 07/06/11 by SUP SAS. That I take to mean that SUP repaid the £1.5m to SBS&L and took on the debt that Prozone Group owed themselves. The other side of this is £1,563,141 was then owed by SBS&L to Arley Group PLC (owned by RR)..... would guess this is the value of Prozone to RR when he brought it in to the party (debt matches a liability)
Prozone Sports Limited, appears to be the only trading entity. In 2009 it made £312k in 2010 £205K and in 2011 it lost £73k..... so no great positives to SBS&L there. At 31/05/11 PSL had accumulated £2m in tax losses. Which suggests it never was that profitable
At 31/05/11 PSL owed SBS&L £2.2m. That debt was also transferred to SUP on 07/06/11. I assume SBS&L received payment for this amount on the transfer
It provided £80K pa in sports analysis services to CCFC and CCFC owed PSL £93k at 31/05/11
It paid Arley Group PLC the following amounts for RR's services 2009 £69K 2010 £75k and 2011 £123k. During those same years Arley Group invoiced CCFC H for RR's services 2008 £169k 2009 £226K 2010 £228K 2011 No details given but guess at £190k
interest accrued on SBS&L debt to Arley Group (RR) 2009 £154K 2010 £156K 2011 £130k (guess because no details in 2011 accounts)
Thoughts .....
07/06/11 SBS&L shifted some debt on by transferring the PG £1.5m to someone else so that meant it either repaid Arley or SUP now owed Arley. Either way SBS&L lost an asset and an equal value liability from its balance sheet
07/06/11 it looks like SBS&L got repaid by or is owed by SUP £2.2m but it also means that of the £29.7m put into SBS&L by SISU that at least 2.2m went into PSL
RR or Arley have taken from the SBS&L Group (including CCFC) £1,080k for RR's services, £440K in interest and repaid £1.5m in just over 3 years.
Have seen it said that RR had the right idea..... but clearly he let the overheads build and losses mount. We never could have afforded to bring in the likes of Carroll, Henderson etc unless that brought immediate success which in turn enhanced the individual sell value..... that was not guaranteed and both players could have disappeared in the championship if with us.
Have seen it said that he based it on youth, maybe but it was bought in youth not from our academy. Our academy was decent enough long before he came and wasnt he considering shutting it at one point ? (might be wrong on that). It is great having a plan but it has to be affordable.
In the meantime it looks to me that RR was pretty well rewarded and that Prozone didnt actually bring that much to the group until we got the sales preceeds (and we cant be sure of that value).
Just how good was RR and his Board of Directors for CCFC?
Ok .... thats off my chest ..... back to the football
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