SHEFFIELD WEDNESDAY - ACCOUNTS AND FFP THREAD

[Hookowl]

2 minutes ago, Geoffrey said:

Isn't there £7.5m outstanding on transfer fees and loyalty payments?

Can't see how we have cut losses down from £20.8m significantly.

 

Not included until incurred.

[Kevlad]

Just as expected really and the same as any club who’s expenses exceed the income they generate from operations.

 

The loss of 20m has been financed by The chairman, you can see the loan from shareholders has increased by about the same amount to 37m, note 15 or 16 

 

The only positive is that a lot of the debt is to The chairman, like Man City, although they usually write it off to equity so it does not show in creditors. The negative is that we spend 20m more than we generated yet we’re still pretty crap. 

 

 One thing  is for certain, the chairman has put the cash in, whether it’s been spent wisely is the bigger question 

[vulva]

5 minutes ago, steveger said:

Is our speedy local media onto this yet ?

Give them chance. They’ve only just noticed Irvine has been sacked. 

[Costello 77]

7 minutes ago, mkowl said:

Will do but might be later - working at home which seems to be involving painting stuff and Mrs MK has got the whip out 

Jackson Pollock walls it is then.

FFS.

[@owlstalk]

2 minutes ago, Geoffrey said:

I've been warning people for a long time - look at all those negs.

Dont' let it worry you Geoffrey

You've got enough on your hands with Zippy and George constantly bickering with each other

[BIG D]

4 minutes ago, cactus said:

At least its perked Geoffrey up. Not seen him this animated since he was relaying tales of football violence at the Derby

 

 

Hell be telling us the names of the players soon when the voices in his head let him know. 

[Geoffrey]

1 minute ago, Hookowl said:

 

Not included until incurred.

We lost £20,800,000 and our wage bill has grown further.

[SiJ]

Just now, @owlstalk said:

Dont' let it worry you Geoffrey

You've got enough on your hands with Zippy and George constantly bickering with each other

3

Don't get him started on people (puppets) fighting again. 

[@owlstalk]

2 minutes ago, Kevlad said:

Just as expected really and the same as any club who’s expenses exceed the income they generate from operations.

 

The loss of 20m has been financed by The chairman, you can see the loan from shareholders has increased by about the same amount to 37m, note 15 or 16 

 

The only positive is that a lot of the debt is to The chairman, like Man City, although they usually write it off to equity so it does not show in creditors. The negative is that we spend 20m more than we generated yet we’re still pretty crap. 

 

 One thing  is for certain, the chairman has put the cash in, whether it’s been spent wisely is the bigger question 

That to me shows two main things

1) How important the club advisors are when recruiting players (hopefully sorted with Katrien being appointed)

2) How crucial a successful attacking positive manager is

[Bottler Owl]

4 minutes ago, Geoffrey said:

I've been warning people for a long time - look at all those negs.

Good to see you're being magnanimous about it all. 

[@owlstalk]

Just now, Geoffrey said:

We lost £20,800,000

 

That's sloppy

 

Everyone should check down the back of their sofa to see if it's there

Hopefully it'll turn up

[vulva]

How does administration impact 5 year season tickets?

[Guest mkowl]

Ok very quick look and the figure I looked for was that DC has put in £20m in loans, £2.5m in share capital £1.4m in as sponsorship. And that is what is disclosed

 

The loss is basically made up of players wages and amortization of contracts.

 

Suspect that Rhodes fee is in next year's accounts explaining the intangible asset figure

 

Let's just say reading those I won't be getting a 5 year season ticket that's for sure.

 

 

[Geoffrey]

Just now, @owlstalk said:

Dont' let it worry you Geoffrey

You've got enough on your hands with Zippy and George constantly bickering with each other

I don't sir.

I was accused of being racist yesterday by RebowlYell for questioning the great leader and that was out of order.

[SiJ]

Just now, Bottler Owl said:

Good to see you're being magnanimous about it all. 

Geoffreydamus 

[Mr Farrell]

You really have to go some to spunk so much cash, and still be in a relegation struggle.

[southportdc]

9 minutes ago, trev said:

Be reet.

 

How long does an embargo last? 1 season?

 

Then what?

 

[modboy]

9 minutes ago, trev said:

Be reet.

 

How long does an embargo last? 1 season?

 

Then what?

 

Stop worrying.

 

DC will sort it all out, no bother.

 

Probably.

 

tbf we've more or less been under an embargo since the beginning of the seasons transfer window closed. Working out well for us isnt it :/

[Nero]

Quick look. Couple of points.

The Amortization at £6.1m is likely to be the split of contracts over the contract period and is the tranfer wages number which counts towards FFP. 

Stock of finished goods up about 250% Thanks Sondico.

There is a loan note holder of £1.3m if we get promotion b4 2021. Doyen? 

Debtors down by 2.2m which is good and probably 3yr ST pre sales working it's way out.

In summary we have lost 30.4m in 2 years. The amortization of wages will take us above this alone next year.

We ca only avoid FFP by promotion or possibly a fire sale of assets.

And I'm an optimist usually.

[sherlyegg]

45 minutes ago, Bouncing Owl said:

and get rid of a few with Rhodes at the top

 

I would assume we would need to get more for him than we paid, or it would be further losses on the sheet. At a guess maybe a £6M loss. Not easy to simply 'get rid'.

Unless I'm missing summat.