Next Seasons Finances - Are We Actually in a Good Place?

[83owl]

10 hours ago, pat blondeau said:

We’ve barely spent anything in the last 3 years on transfers

Because we’ve been spending tens of millions a year on wages.

[WalthamOwl]

Will P&S definitely be suspended for next season? 

Edited July 7, 2020 by WalthamOwl

[Box_Man]

Am I right in thinking if we win the EFL case and we are allowed to show the stadium sale in the accounts, we are trying to say it was technically sold in the 17/18 yearly accounts not the 18/19 accounts. Based on a rolling 3 year of 39 million losses we will only get the benefit of the sale this year.

 

17/18 accounts 2 million profit

18/19 accounts 20 million loss

19/20 accounts published shortly but somewhere close to 20 million loss

 

So even with the ground sale we have no room for manoeuvre.

Edited July 7, 2020 by Box_Man

[Roscoe P. Coltrane]

45 minutes ago, 83owl said:

Because we’ve been spending tens of millions a year on wages.

And it's handing out these stupid contracts that's led to this mess we are in.

[TrueOwl]

2019/20 (projected):

Income: 25m

Expenses: 45m+

Gross Loss: (20m+)

Net Loss: (25m+) 

[Guest Mcguigan]

29 minutes ago, Box_Man said:

Am I right in thinking if we win the EFL case and we are allowed to show the stadium sale in the accounts, we are trying to say it was technically sold in the 17/18 yearly accounts not the 18/19 accounts. Based on a rolling 3 year of 39 million losses we will only get the benefit of the sale this year.

 

17/18 accounts 2 million profit

18/19 accounts 20 million loss

19/20 accounts published shortly but somewhere close to 20 million loss

 

So even with the ground sale we have no room for manoeuvre.

It's the 18/19 accounts that haven't been filed yet and will be published shortly. Also, I'm guessing that, based on the 17/18 accounts excluding the stadium sale, they'll be higher than £20m more like £30m.

 

But still, yes. We'll have no room for maneuver until we get our annual losses under £10m a season or the P&S rules are changed.

 

 

[TrueOwl]

I'll tell you what i'd like to see in next years accounts:

                                                

Disposal of D Taxis                                         38,000(,000)

Edited July 7, 2020 by TrueOwl

[TrueOwl]

Times are tough, sometimes you have to sell off your fake companies to pay the bills.

[room0035]

51 minutes ago, Box_Man said:

Am I right in thinking if we win the EFL case and we are allowed to show the stadium sale in the accounts, we are trying to say it was technically sold in the 17/18 yearly accounts not the 18/19 accounts. Based on a rolling 3 year of 39 million losses we will only get the benefit of the sale this year.

 

17/18 accounts 2 million profit

18/19 accounts 20 million loss

19/20 accounts published shortly but somewhere close to 20 million loss

 

So even with the ground sale we have no room for manoeuvre.

Nearly right but your a year out.

 

The case currently is for 2 season ago 15/16, 16/17 and 17/18.

 

We haven't filed the July 2019 for the 18/19 season so once they get filed we could be in ELF shi t again. Then for this season the July 2020 accounts the 19/20 (this season) there may be a CoVid calculation. personally I think they will look at accounts up to March then gross up on that for the remaining months. Not a chance the EFL will give teams a free pass.

[Guest mrbluesky]

15 hours ago, Owl999 said:

I’ve just had a text from a mate asking if I’d heard anything about Wednesday going into administration ? Probably some weird and wild rumour, don’t really see how we can unless DC has stopped the cash flow .

Does he drink in Wetherspoons?

[Plonk]

But if we win the case mr c can sell the ground back to us last year then sell it to his wife for a 100!million so we show a profit of 80 m last year. No ffp next season meaning we can lose 150 m the year after. Piece of ******** accounts 

[room0035]

21 minutes ago, Plonk said:

But if we win the case mr c can sell the ground back to us last year then sell it to his wife for a 100!million so we show a profit of 80 m last year. No ffp next season meaning we can lose 150 m the year after. Piece of ******** accounts 

I don't think the EFL will allow a break for FFP

 

I think what they will do is look what club profit/loss was before CO-Vid started in March 2020 and say we loss £10m over 9 month gross it up for a loss over 12 months (13.3m).

 

The rules are a 3 year rolling calculation I cannot see them changing this.

[S36 OWL]

4 hours ago, Box_Man said:

Am I right in thinking if we win the EFL case and we are allowed to show the stadium sale in the accounts, we are trying to say it was technically sold in the 17/18 yearly accounts not the 18/19 accounts. Based on a rolling 3 year of 39 million losses we will only get the benefit of the sale this year.

 

17/18 accounts 2 million profit

18/19 accounts 20 million loss

19/20 accounts published shortly but somewhere close to 20 million loss

 

So even with the ground sale we have no room for manoeuvre.

 

Even with the ground sale we will have breached FFP again. 

[billyblack]

You are kidding right?

[torryowl]

19 hours ago, lanzaroteowl said:

 

I hope we do spend some money. 

It's going to be pretty dire if we dont.

Get ready for dire mate .... ..think though that most clubs will be treading water when it comes to buying players. 

[S36 OWL]

The game needs a reality check, especially now with Covid and clubs having zero income. I really do fear for a lot of clubs. 

[Guest LondonOwl313]

6 hours ago, Box_Man said:

Am I right in thinking if we win the EFL case and we are allowed to show the stadium sale in the accounts, we are trying to say it was technically sold in the 17/18 yearly accounts not the 18/19 accounts. Based on a rolling 3 year of 39 million losses we will only get the benefit of the sale this year.

 

17/18 accounts 2 million profit

18/19 accounts 20 million loss

19/20 accounts published shortly but somewhere close to 20 million loss

 

So even with the ground sale we have no room for manoeuvre.

 

5 hours ago, TrueOwl said:

2019/20 (projected):

Income: 25m

Expenses: 45m+

Gross Loss: (20m+)

Net Loss: (25m+) 

 

I can't see how this years loss will be the same as last years when you consider that we lost more than £100k a week off the wage bill in Hooper, Matias, Jones, Abdi, Pudil, Joao etc, and the new lads Harris, Borner etc will be on substantially less. We also lost Bruce and his staff off the wage bill on a reported 40k a week, and Monk will be on nowhere near that.

 

We also got £5m for Joao and £4m for Bruce (apparently), and haven't spent anything on transfers other than £1m or so for Luongo.

 

So if this years accounts show no improvement vs last seasons we really are screwed.

[Guest Kameron]

Having banked up to 10 years worth of season ticket money & the money generated from club 1867 we should be absolutely rolling in it. 

[alanharper]

30 minutes ago, LondonOwl313 said:

 

 

I can't see how this years loss will be the same as last years when you consider that we lost more than £100k a week off the wage bill in Hooper, Matias, Jones, Abdi, Pudil, Joao etc, and the new lads Harris, Borner etc will be on substantially less. We also lost Bruce and his staff off the wage bill on a reported 40k a week, and Monk will be on nowhere near that.

 

We also got £5m for Joao and £4m for Bruce (apparently), and haven't spent anything on transfers other than £1m or so for Luongo.

 

So if this years accounts show no improvement vs last seasons we really are screwed.

 

Because those wages will still be included in the next set of accounts which will be for the year up to summer 2019.  The savings and incoming fees for the above won't be apparent until the next year's accounts - even then we'll still have a huge wage bill with Fletcher, FF, Rhodes etc. 

[DJMortimer]

36 minutes ago, LondonOwl313 said:

 

 

I can't see how this years loss will be the same as last years when you consider that we lost more than £100k a week off the wage bill in Hooper, Matias, Jones, Abdi, Pudil, Joao etc, and the new lads Harris, Borner etc will be on substantially less. We also lost Bruce and his staff off the wage bill on a reported 40k a week, and Monk will be on nowhere near that.

 

We also got £5m for Joao and £4m for Bruce (apparently), and haven't spent anything on transfers other than £1m or so for Luongo.

 

So if this years accounts show no improvement vs last seasons we really are screwed.

 

Last year's loss (not including the stadium sale) would have been something like £36m. The next financial year's figures are due to be published at the end of this month. I would anticipate that we are going to be close to the circa £21m loss necessary to breach the rolling three year P&S limit. Anyone who was curious about the sale of Lucas Joao; this is probably the main motivation for it.