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SWFC end of year accounts


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The balance sheet indicates over £25m owed to creditors. It would be good if there is a poster out there with good knowledge of corporate accountancy who could shed some light on the 'net debt' figure as according to the explanatory the notes it doesn't seem to include some of the debts detailed in the balance sheet. Assuming Milan was telling the truth when he said we were losing £6m a year then a £25m debt wouldnt seem too surprising.

 

That said; the position has changed since those accounts as indicated by the removal of the charges. The main concern now is how the new owner(s) run the club and its finances going forward.

Edited by Dagmeister
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I'm no accountant , but I read it as follows

 

The total debt is about £27m

 

that's made up from the current creditors of £12M and long term creditors  of £15M  ( page 20 of accounts)

 

That doesn't mean you have to panic, it just means that to cover this years losses Milan will have had to pump in another 5m or whatever this years  loss will be. there was no cash in the bank at the beginning of this FY.

 

I'm guessing the share premium account is what Milan put in before this year  so he will be in for £30M by now. if he made any profit on the time he was with us he deserved it.

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So we agree these have been paid up....

But you said why would someone pay 30 million to take these on - he hasn't.

 

They're going to inherit a minimum of 5 million per year losses unless they find a way of increasing revenues.

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They're going to inherit a minimum of 5 million per year losses unless they find a way of increasing revenues.

 

A 5 million per year loss for 2 to 4 seasons won't be a big deal once we're in Premier league.

 

In a promotion season gate receipts could easily bring in 350k per game.

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They're going to inherit a minimum of 5 million per year losses unless they find a way of increasing revenues.

This will be one of the "best" results in the championship.

Last year we lost 3.7 m and only 3 clubs did better.

Blackpool were the only one to turn a profit due to parachute payments.

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A 5 million per year loss for 2 to 4 seasons won't be a big deal once we're in Premier league.

 

In a promotion season gate receipts could easily bring in 350k per game.

 

So 30 million to buy the club

 

5-10 million losses assuming we get promoted within two years.

 

10 million on players and increased wages.

 

They're gunna need some serious cash to pay for all that.

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So 30 million to buy the club

5-10 million losses assuming we get promoted within two years.

10 million on players and increased wages.

They're gunna need some serious cash to pay for all that.

Don't you think they know that? Of course it's going to take some serious cash to get to the prem, as it would at ANY other club, even more so at your club as its in division 3 STILL

lol

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