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@owlstalk

SWFC Finances - A major worry?

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26 minutes ago, sherlyegg said:

Except its not 100k per day

How can they ask for loyalty bonus!!

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Figures don’t surprise me but football at this level is unsustainable over the longer term. Something needs to give at some point - maybe this Covid19 outbreak will give football the wake up call it needs. 

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He spends all that on us yet people constantly moan about him

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I thought at the time that it was slightly curious the sale of the stadium didn't just cancel out a net loss for that accounting year but actually put us something like £2m in profit. Could it be that amount was just enough to see us under the three year EFL limit?

 

3 minutes ago, Ellis Rimmer said:

He spends all that on us yet people constantly moan about him

 

You don't reckon the situation is a bit more complex than that?

 

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7 minutes ago, Bouncing Owl said:

 
It will also include the purchase price of £37m for sure and potentially the acquisition of the ground for £60m.

 

Adding on the £37m still works out at less than £79k per day

 

And the ground was included in the purchase of the club - if he's "sold" it to himself, er I mean that random company, that's not expenditure he's moving his money from one pocket to another. 

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Just now, alanharper said:

 

Adding on the £37m still works out at less than £79k per day

 

And the ground was included in the purchase of the club - if he's "sold" it to himself, er I mean that random company, that's not expenditure he's moving his money from one pocket to another. 


This is the only plausible explanation I have for the £100k pw loss having looked at the figures. 

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2 minutes ago, DJMortimer said:

I thought at the time that it was slightly curious the sale of the stadium didn't just cancel out a net loss for that accounting year but actually put us something like £2m in profit. Could it be that amount was just enough to see us under the three year EFL limit?

 

 

You don't reckon the situation is a bit more complex than that?

 

I just think he has made mistakes but I don't want to drive him out of the club, he will feel it more than anyone

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Posted (edited)

Bob.jpeg

 

Erm... ok

 

Eric.jpeg

Edited by Sheff74

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41 minutes ago, matthefish2002 said:

 

A new owner will be hard to come by if we need £100k per day to keep going.

All that money spent and we are worse off then we were 5 years ago.


We don’t need 100k a day to keep going.

 

That figure equates to what he has spent so far. 

If the time comes DC has had enough, he’ll sell to recoup some of losses.

 

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31 minutes ago, daveyboy66 said:

Dont worry Dem Ten Bob Millionaire's will save us before you know it Roomie and his mates will be VIPs again

Bingo - that’s the phrase I was waiting for. 

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34 minutes ago, DJMortimer said:

Last year, the stadium sale prevented a net loss of something like £35m.

 

The year before that is was £20m.

 

When this year's accounts are published in a few weeks, it will probably be something similar.

 

The league's P & S regulations permit a total deficit of £39m over a rolling three year period.

 

What's to worry about?

 

 


The losses will be down, based on wage bill being cut (Hooper, Abdi would have been on a fair few quid). Plus we made the sale of Joao.
 

Plus isn’t FFP being over looked for next season based on gate receipts being impacted?

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45 minutes ago, @owlstalk said:

 

 

£100k a day

 

A DAY

Even though I knew this, being reminded of it shows the kind of mindblowing figures being spent to run the club


£100k a day

 

That's more than Niall out of One Direction earns

We are not losing that now though are we, that is just what it works out at over the entire time if you account for all the bad signings and lack of sales.

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6 minutes ago, Eastern said:


We don’t need 100k a day to keep going.

 

That figure equates to what he has spent so far. 

If the time comes DC has had enough, he’ll sell to recoup some of losses.

 

Ha ha didnt see this before writing the same.

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18 minutes ago, devonshire owl said:

How can they ask for loyalty bonus!!

 

This remarkable new invention called "a contract".

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8 minutes ago, Ellis Rimmer said:

I just think he has made mistakes but I don't want to drive him out of the club, he will feel it more than anyone

You wont drive him out of the club. Given the size of the losses he is stuck with us & we are stuck with him. The most likely options are:

1 DC keeps funding the club and eventually gets to the Prem somehow.

2 DC keeps funding the club but goes broke meaning that it will be available for somebody to buy out of admin.

3 DC finds a bigger fool with even deeper pockets who is prepared to pay him his asking price. Given the likely asking price I would say that person doesn't exist.

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Why else try and flog 10 year season tickets. Whole thing reeked of desperation.

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Posted (edited)

Imagine how crap our squad would be if we cut our cloth according, we’d probably be bottom of league two if we spent sustainably in proportion to our revenue.

Edited by TrueOwl
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11 minutes ago, Eastern said:


The losses will be down, based on wage bill being cut (Hooper, Abdi would have been on a fair few quid). Plus we made the sale of Joao.
 

Plus isn’t FFP being over looked for next season based on gate receipts being impacted?

 

The sale of Joao came well after the sale of Hillsborough, so wouldn't have played a part in the original consideration of the bottom line. But it might have been part of the motivation for agreeing to the deal later on. Without the accounts it's difficult to estimate.

 

As for P&S the rules will have to be heavily revised at the very least. I don't believe it has been confirmed yet that this year will be voided in those terms. If they do that, some clubs could be tempted for a one year sh*t or bust spendathon.

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Not sure what I find more concerning to be honest, the bloke haemorrhaging money like this or people thinking it's funny.

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