Financial Results ... aka Thanks Eddie thread

[Athers]

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I'm no accountant (someone here is aren't they?) but a quick read this morning.

Revenue up 10%ish to £67m, basically down to extra TV money, although gate receipts did go up too.

Costs slightly up, wage bill is still WAY too high (£56m inc. staff) although from the outside we may expect this to be better in 11/12.

£14m taken off in amortised in player contracts running down, transfer fees in/out are £0.5m in.

Bottom line still very ugly at a £26m loss.

Debt now ploughs through to 9 figures (net £110m, up from £93m), almost all of it to Eddie Davies, but directors are looking at new ways to get credit.

Can't go down.

[Sponge]

*shuts eyes, sticks fingers in ears* lalalalala

[Athers]

A strange number I saw was an average ticket price of £10.24. Just how many kids are there on matchdays! No wonder we're checking STs.

[Bruce Rioja]

And those figures a from a season in which we spent the greater part in the top 8 as well as having a run to Wembley, are they? 4uck me!

[a1]

sackin' off coyle will add how much to all this ?

sell it to some oil barons

:/

[bobo the clown]

A strange number I saw was an average ticket price of £10.24. Just how many kids are there on matchdays! No wonder we're checking STs.

Aaaah !! THAT's what that was all about !!

I saw 3 lads go up, together, to go into the ESL & each was rejected. They all got a bit stroppy for a short while & I was in by then & thought nothing of it.

Now I undertands.

[jimbo_bwfc]

Can't afford to be a competitive Premier League club.
Can't afford to be relegated.

[officer_dibble]

not good reading

[P.O.S.]

Can't afford to be a competitive Premier League club.
Can't afford to be relegated.

A horrible situation

[scotty]

the figures are frightening. We are losing over £70,000 every single day. Surely ticket prices have to rise at some point soon because revenue from gate receipts is tiny compared to turnover? The reductions in the wagebill over the summer arent shown in this set of results but again, there has to be a reduction in this over coming years. (which probably means there will be no January spending spree for Coyle)

The total debt is now over £110million the vast majority of which is owed to Eddie Davies. It does make you think what would happen to the club if Davies lost interest or died. For the record Davies company Moonshift Investments Ltd received over £5m from the club in respect of interest, arrangement and guarantee fees. (although this will be a substantially cheaper way of servicing the debt than using a bank for example.)

[officer_dibble]

If Davies lost interest or died.......

eek

[Wandering Willy]

If Davies lost interest or died.......

eek

We'd play Ngog or Klasnic.

[CAPSLOCK]

the figures are frightening. We are losing over £70,000 every single day. Surely ticket prices have to rise at some point soon because revenue from gate receipts is tiny compared to turnover? The reductions in the wagebill over the summer arent shown in this set of results but again, there has to be a reduction in this over coming years. (which probably means there will be no January spending spree for Coyle)

The total debt is now over £110million the vast majority of which is owed to Eddie Davies. It does make you think what would happen to the club if Davies lost interest or died. For the record Davies company Moonshift Investments Ltd received over £5m from the club in respect of interest, arrangement and guarantee fees. (although this will be a substantially cheaper way of servicing the debt than using a bank for example.)

No

[Harry Genshaw]

A bizarre situation where we've spent 10 years in the Prem and all the riches that's supposed to bring, and yet our debt (& no doubt Evertons, Villas, Blackburns et al) is bigger than ever. Financial bonkers

[coffeymagic]

Do we have any 'unwanted' gold we can sell?
Do we have any 'wanted' gold we can sell?

Stomach turning stuff how Eddie D hasn't chucked himself off the Laxey Wheel I'll never know.

Mind you I've got a mate who's up to his neck in debt and he doesn't even flinch. Still lives the lifestlye, still buys top price goods 'It's just numbers' he says.

Don't think I'd be able to sleep at night.

[Fredi]

Sooner or later the whole Premiership model is bound to implode. It is unsustainable over time unless you're a big club with rich foreign investors. Basically, our debt has approximately trebled in the ten years we've been in the Prem - that is just crazy. It's where clubs want to be, but unless you're one of the big boys, it just looks like the road to insolvency. If the whole thing does implode for some of the smaller clubs, that might be the catalyst for the Sky 4 plus Citeh (Sky 5?) to go off to the inevitable European super league, leaving everyone else with drastically reduced TV payments.

The Championship now looks a more of a viable bet for clubs our size, but we're in the Catch 22 position of not being able to afford to go there because of Prem-accumulated debt. If we stay up, though, we just accumulate more debt but struggle to be competitive anyway. No easy way out unless there's a sheikh with Bolton connections somewhere.

[keveh]

Has Eddie Davies ever come out and spoke about this debt?

I'd love to get his views on it, he's obviously not going to be best pleased, but does he think it's worth it?

[coffeymagic]

I heard somewhere last week that Doncaster Rovers had a wage bill of £60m - so perhaps we're not doing too bad.

Although it could have been £6m and I might have dreamt it.

[FaninOz]

Actually going down may bring Eddie out into the open as I can see the Club financially taking the hit and going into administration as that will settle a lot of the debt, even though it owed to Eddie, and we can try to do a Southampton and bounce back in a few years time!!

It may make financial sense in the long run under the current financial rules that seem to operate in the UK.

[bobo the clown]

If Davies lost interest or died.......

eek

We'd play Ngog or Klasnic.

really did "LOL" then.