SWFC Accounts Published

[swfcGibbo]

Well worth a read. 

Key points:

- Free of FFP due to relegation.
- Wages can be a maximum of 3/4 of revenue.
- Plenty of loopholes which include cash injections by Owners (has to be a gift and not loans/shares)
- Estimates as things stand we have budget for 5/6 'established' league one players.

[rawowl]

Excellent read that.

 

So if Borner went for free this summer for example (rumoured it’s on the cards)  that would free 500k up to put in the pot to cover other new signings wages ?

 

Would that work ?

 

if yes Borner on a free and Windass for 2 million or so + wages saved would give plenty of room to build a fresh young hungry squad without letting other key players go.

[unkastav]

4 hours ago, room0035 said:

Indeed but bullen, bannan, fletcher, paterson are scottish too arent they or dont they count?

All complete legends

[room0035]

1 hour ago, rawowl said:

Excellent read that.

 

So if Borner went for free this summer for example (rumoured it’s on the cards)  that would free 500k up to put in the pot to cover other new signings wages ?

 

Would that work ?

 

if yes Borner on a free and Windass for 2 million or so + wages saved would give plenty of room to build a fresh young hungry squad without letting other key players go.

Bannan and windass would bring in about £3m ish in fee and free up £2m in wages.

 

Leaving room to bring in about 6-8 league one quality player and have money left over.

[Orlando_Trustful]

Let’s hope we can now start bringing in some signings. Hopefully DM’s L1 experience will help speed this up. 

[Guest Mcguigan]

2 hours ago, swfcGibbo said:

Well worth a read. 

Key points:

- Free of FFP due to relegation.
- Wages can be a maximum of 3/4 of revenue.
- Plenty of loopholes which include cash injections by Owners (has to be a gift and not loans/shares)
- Estimates as things stand we have budget for 5/6 'established' league one players.

Pretty sure that from this coming season we have three years to pay Sky TV back £7m in Covid rebates. So £2.3m going from the pot each season.

[toooldforthis]

9 hours ago, Mcguigan said:

It’s not that significant as it has been copied and pasted in every set of accounts since DC took over and probably before.

 

We are a loss making business and, wage bill wise, have punching well above our weight for years. Even in MM’s prudent years with a £12/13m wage bill, we still lost millions a year.

 

We don’t have the commercial revenue streams that clubs, we class as our peers do. £5.7m from commercial activities covering all sponsorship and advertising income, all the corporate revenue and retail income is poor considering we like to think of ourselves as one of big Championship clubs.

 

It is more significant this year because in the past the club owned the ground as an asset. Now it relies entirely on the owner's ability to inject funds as he cannot borrow against forward revenue or any fixed assets.

[Guest Mcguigan]

46 minutes ago, toooldforthis said:

 

It is more significant this year because in the past the club owned the ground as an asset. Now it relies entirely on the owner's ability to inject funds as he cannot borrow against forward revenue or any fixed assets.

The ground was sold in an attempt to comply with FFP calculations, not because he had to borrow money to run the club. 

 

 

[ashamanic]

So, what is reasonable to spend on wages? If turnover is 21m, then 75% is 15m, 50% would be better, which would be around 10m.

20 players on 10000 a week would be about the 10m. Obviously, it will vary, some of the more experienced players like Bannan and Windass are going to be on more than that, the youth players who haven't shown themselves to be good enough for a professional career at any level on less, but it seems insane that the sort of journeymen plying their trade in league one are on anything more than that, but this is why so many teams make a loss

[toooldforthis]

1 hour ago, Mcguigan said:

The ground was sold in an attempt to comply with FFP calculations, not because he had to borrow money to run the club. 

 

 

 

Yes I do understand how these things work.

[Rudi]

What’s stopping the stadium transaction being reversed now? 

[heppers]

On 06/07/2021 at 15:57, @owlstalk said:

The company uses a number of key performance indicators to measure its performance. Turnover fell by £1.9m to £20.9m (£22.8m 2019) primarily due to the loss of five home games being played behind closed doors, due to the Covid 19 pandemic, to complete the 19/20 season .

 

Average league attendance fell by almost 3% to 23,752 for the 18 League games held prior to lockdown as compared with 24,426 in the previous season. The team finished 16th in the Football League Championship (12th 2019).

These metrics don’t bode well for the following years accounts.

[waverley_owl]

We spoke with Kieran Maguire from The Price of Football on The Wednesday Til I Die Podcast about what exactly the accounts meant and if we really were 'up a poo creek without a paddle'.

 

Spoiler alert, it's not as bad as it first seems, if compared to other clubs that is. 

 

https://pod.fo/e/d825b

[@owlstalk]

1 minute ago, waverley_owl said:

We spoke with Kieran Maguire from The Price of Football on The Wednesday Til I Die Podcast about what exactly the accounts meant and if we really were 'up a poo creek without a paddle'.

 

Spoiler alert, it's not as bad as it first seems, if compared to other clubs that is. 

 

https://pod.fo/e/d825b

Thank you - listened to this yesterday and it's good stuff - keep em coming

 

 

[waverley_owl]

1 minute ago, @owlstalk said:

 

 

Check the other thread about player wages not getting paid mate

 

 

 

That is now, this is referring to 19/20. Obviously things have taken a turn for the worst but we won't know the full extent of that until this time next year.