SWFC Accounts Published

[Gbear1867]

8 minutes ago, Belfast Owl 2 said:

Seen fans on twitter thanking Chansiri for finally paying players and publishing accounts.

 

Madness

I just got a bit of sick in my mouth

[@owlstalk]

Just now, TrickyTrev said:

Imagine paying that sorry bunch £33.5m in wages. 

If he HAD done we'd not have been relegated

[flo]

4 minutes ago, TheEnchanter said:

 

I reckon a lot of people will be delighted and happy if we lose 38.9M over 3 years and see it as a success. Ignoring the medium to long term threats that the club is under from DC and his club killing antics. We have to be one of the most apallingly run clubs in the country. 

Yeah but at least we didn't lose 50 million over 3 years. 

Well done DC

[Pablo Bonvin]

9 minutes ago, Belfast Owl 2 said:

Seen fans on twitter thanking Chansiri for finally paying players and publishing accounts.

 

Madness

I suppose another banner is on its way then for the back of the Kop in time for the new season.

[@owlstalk]

[Westfield Owl]

6 minutes ago, paulrs said:

I think I’m right in saying 

2017/18 = £35.5m loss (once stadium sale removed)

2018/19 = £19m profit (with stadium sale added)

2019/20 = £24m loss

3-year rolling total = £40.5m loss

 

So even with the stadium sale we’re outside the permitted £39m loss over three years... I think?!

 

 

 

So, another points deduction pending.

 

What an absolute circus we are.

[akbuk]

Chansiri and Sheffield 3 acting as guarantors for debts owed ,good news I think

[Pablo Bonvin]

10 minutes ago, paulrs said:

I think I’m right in saying 

2017/18 = £35.5m loss (once stadium sale removed)

2018/19 = £19m profit (with stadium sale added)

2019/20 = £24m loss

3-year rolling total = £40.5m loss

 

So even with the stadium sale we’re outside the permitted £39m loss over three years... I think?!

 

 

All is not lost. Chansiri has invented a year in between (a year 2019 and a half), during which we made a £1.6m profit. All is sorted. No need to worry. Thank you DC.

[Dan2209]

Are we clear of breaking the rules this season accounts make no sense to me

[FreshOwl]

In layman terms, can we spend or not? 

[Hookowl]

9 minutes ago, paulrs said:

I think I’m right in saying 

2017/18 = £35.5m loss (once stadium sale removed)

2018/19 = £19m profit (with stadium sale added)

2019/20 = £24m loss

3-year rolling total = £40.5m loss

 

So even with the stadium sale we’re outside the permitted £39m loss over three years... I think?!

 

 

 

Hopefully we may just keep within the permitted losses.

I believe those figures are just for tax purposes and don't take into account the allowances the EFL permit under P&S. 

[SallyCinnamon]

Just now, FreshOwl said:

In layman terms, can we spend or not? 

SPENDAGGEDON 

[i used to be sc_owl]

13 minutes ago, pat blondeau said:

These accounts were for 2019/20 so the wages of Fletcher, Forestieri, Rhodes, Westwood, Bannan, Lees, Reach, Lee, Nuhiu, Winnall are all still in there 

 

13 minutes ago, yeadonowl said:

Won’t start to come down yet.

 

These figures cover August 19/July 20 when the like of Fletcher and Forestieri were still on the wage bill

 

Next year will see a reduction in wages with the big drop the year after

 

issue we have now is that the income is going to be hammered in the next 2 years accounts

 

Cool.  It all starts to blur into one horrible mess in my memory.

[adelphi1867]

54 minutes ago, Ellis Rimmer said:

1st post

I hope it is not the 'Last Post'

[Maddogbob]

7 minutes ago, FreshOwl said:

In layman terms, can we spend or not? 

Eeerrrrmmm I think not with the large rolling loss.

 

That said at this point with covid chucked in, it's only my gut feeling.

[mogbad]

12 minutes ago, paulrs said:

I think I’m right in saying 

2017/18 = £35.5m loss (once stadium sale removed)

2018/19 = £19m profit (with stadium sale added)

2019/20 = £24m loss

3-year rolling total = £40.5m loss

 

So even with the stadium sale we’re outside the permitted £39m loss over three years... I think?!

 

 

 

For FFP purposes the losses will be adjusted to allow for expenditure on items like the academy etc which I believe is normally in the region of £1.5m.

 

So the £35.5m loss will be approx £34m, the £19m profit will be approx £20.5m profit and the £24m loss approx £22.5m. Therefore total adjusted losses over 3 years would be approximately £36m

[room0035]

Turnover down £2m because of 5 fewer home games, wages down £2.8m even though Abdi, Boyd, Hooper, Matias, Jones, Pudil, Murphy, bates, Da Cruz and Wickham plus a few lesser players probably saving the club 8-10m a season in wages. Yet wages have barely dropped?

 

£6m of player registration released. £2.7m has been paid to players in loyalty bonuses. For me a complete farce. We are paying players to stay to the bitter end we wonder why we had players sat in the stand never playing in Boyd, Jones, Abdi. They were getting loyalty payments for it.

 

The worrying thing for me is not the massive losses i was expecting around the £20m mark.  But the £7.5m payment for the stadium has been used to reduce DC loan account. When the club is needing financial support DC has taken out of the club £7,265,000.

 

There is £1.5m in income from DC from presumably his name on everything but £3.2m in costs the rent is £1.5m so what is the other £1.7m costs for?

 

Also Prepayment and deferred income should include all the early bird season ticket money for the following season but its dropped from £8.6m to £0.6m which suggest either no one purchased a season ticket or the income got released but against the wrong years accounts. But without knowing the breakdown of this we dont know how much the losses of £24m would have been.

 

Also final there is no change in the 2019 figures even though the excuse used for the hold up was the ground sale but nothing changed which suggest that was a bit of a smoke screen.

[wellbeaten-the-owl]

13 minutes ago, Westfield Owl said:

 

So, another points deduction pending.

 

What an absolute circus we are.

No don't panic, for a start every year certain costs are allowed to be added back for FFP.

 

This year costs relating to covid (eg lost income) are also allowed to be added back all which would bring us below £39m.

 

Not had chance to have a detailed look yet but after a quick scan couple of things jump out at me:

 

There is a "new loan" of £3.3m taken out.

 

Also whilst Sheffield v3 have paid the £7.5m to the club re the stadium purchase, DC has taken similar amount back out from his directors loan account.

 

Also looks like we got £6m for João and the £6m confidential payment to us last year must have been for Bruce and his coaches as no such compensation payment  in 2020 accounts

[@owlstalk]

 

 

If the accounts are as 'healthy' as they are then why were they delayed so long and at such cost?

[billyblack]

24 minutes ago, @owlstalk said:

Shocking business acumen