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  #61  
Old 28-05-2020, 07:21 PM
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Quote:
Originally Posted by orp pisshead1 View Post
Wonder what the weeds accounts were like. Key going forward is get academy cat 1 up and running ASAP and hopefully bring talent through on a regular basis in view of selling . Use them to supplement the more experienced players that we get on the cheap.
They made a pre-tax loss of 24.6m. However, it is difficult to look at our accounts and their accounts in isolation. Their accounts reflect their second season in the Premier League, ours are after 6 years. To an extent they will still be playing catch-up i.e. spending more on players and an increasing wage bill. Like us they will need to sell players to offset the ever increasing amortisation costs.

For info in our second season in the Premier League we made a pre-tax profit of 7.9m.

Also Tony Bloom the owner has lent the club 272m.

Overall I think we are in a better financial position.
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  #62  
Old 28-05-2020, 08:19 PM
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From Swiss Ramble:

“After promotion to the Premier League in 2013, #CPFC have made money in four of the six seasons since then. Over that period, their aggregate profit was 6m, i.e. 1m a season (essentially break-even), which is not too shabby, given the need to compete with bigger spending clubs.”

What’s the point of owning a football club other than the obvious fun and prestige? Whatever additional revenue you make is offset by your costs. You can’t really draw any money out of the club as you will get major stick and struggle to compete. Then if you get relegated you have a massive financial drain.
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  #63  
Old 28-05-2020, 10:23 PM
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Originally Posted by Tomo View Post
We'd have sold Wilf.

No point wondering about What If's. We did and now the accounts are in very good shape.

Our whole ambition now is that we produce more AWB's to make us more competitive.
Its that simple that we just sell Wilf and all our financial problems go away?

AWB was a complete fluke, we will be very lucky to get any of our current academy players to get anywhere close to his ability/value. The average age of our squad means we have very few other players with any real value, other than Wilf maybe Guiata & Ayew are worth north of 10m but thats it.

At the end of next season we will be in a very precarious financial position, as a lot of our ageing squad will need replacing and we simply dont have the finances to do it. To just hope we get more AWBs is a very fragile and flawed strategy.
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  #64  
Old 28-05-2020, 10:41 PM
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Quote:
Originally Posted by BillyTKid View Post
From Swiss Ramble:

After promotion to the Premier League in 2013, #CPFC have made money in four of the six seasons since then. Over that period, their aggregate profit was 6m, i.e. 1m a season (essentially break-even), which is not too shabby, given the need to compete with bigger spending clubs.

Whats the point of owning a football club other than the obvious fun and prestige? Whatever additional revenue you make is offset by your costs. You cant really draw any money out of the club as you will get major stick and struggle to compete. Then if you get relegated you have a massive financial drain.
After tax it works out at c75k a season.

Amazing when you think our total income over those 6 years is nearer 750m.
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  #65  
Old 28-05-2020, 11:10 PM
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Originally Posted by filharvey View Post
Mainly a note that we still need to sell players to survive.
Not gonna argue with that. But AWBs sale was not unexpected. And not the only sale that kept us going.
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  #66  
Old 28-05-2020, 11:32 PM
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Just a cheeky net debt of 72m then (owed to shareholders).

Kinda puts things into perspective when you remember we were nearly wound up over a loan of under 6m a decade ago.
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  #67  
Old 29-05-2020, 02:06 AM
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Originally Posted by ChiswickEagle View Post
Not gonna argue with that. But AWBs sale was not unexpected. And not the only sale that kept us going.
His sudden emergence and the fact he became a 50m player was certainly a surprise. None of us saw that coming 18 months before his transfer.
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  #68  
Old 29-05-2020, 02:19 AM
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and the 50-100m ringfenced money for the new stand that hasn't been touched....

if it has been spent, and we owe 72m to the shareholders what was the benefit of SP going cap in hand to the yanks?
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  #69  
Old 29-05-2020, 02:22 AM
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I am all for offloading Benteke and Sakho from the books and getting 45 to 50m for wilf.

Add to that whatever we get for TV money post virus and we should have enough to invest in a few additions.
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  #70  
Old 29-05-2020, 10:11 AM
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Anyone know how the club owes the owners 72 mill? They lent the club around 20 mill for theJan transfer window under Allardyce but where did the other 50mill appear?
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  #71  
Old 29-05-2020, 10:53 AM
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Quote:
Originally Posted by dave_who_ru View Post
They made a pre-tax loss of 24.6m. However, it is difficult to look at our accounts and their accounts in isolation. Their accounts reflect their second season in the Premier League, ours are after 6 years. To an extent they will still be playing catch-up i.e. spending more on players and an increasing wage bill. Like us they will need to sell players to offset the ever increasing amortisation costs.

For info in our second season in the Premier League we made a pre-tax profit of 7.9m.

Also Tony Bloom the owner has lent the club 272m.

Overall I think we are in a better financial position.
There was an article in the Athletic the other day saying that Bloom's investment in them was now 362m, 81m between 2017 and 2019. There was a lovely comment at the end saying that they're a club abiding by the principles of sustainability which was "interesting" given the 150m on transfers in the last two seasons
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  #72  
Old 29-05-2020, 10:59 AM
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Quote:
Originally Posted by Eddie McGoldrick's tash View Post
His sudden emergence and the fact he became a 50m player was certainly a surprise. None of us saw that coming 18 months before his transfer.
My guess is that the plan had always been to sell Wilf last summer, but when interest in AWB peaked he became a more immediately valuable and sellable asset compared to our star player. Hence the fallout with Wilf and Arsenal etc.

So AWB's success meant we were able to keep Wilf.
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  #73  
Old 29-05-2020, 02:01 PM
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Quote:
Originally Posted by swissroll View Post
Anyone know how the club owes the owners 72 mill? They lent the club around 20 mill for the Jan transfer window under Allardyce but where did the other 50mill appear?
Net debt was 72m broken down as follows:

Amounts owed to group undertakings: 45m
Advances under Funding Agreement: 37m
Finance lease / HP: 2m
Total: 84m

Minus 12m cash

So the actual amount owed to the owners was 45m although the accounts note that this included a capital call from Palace Holdco as at 30 June 2019. We knew from last year's accounts that the owners were putting another 24m in.

We also know from the notes to this year's accounts that the Funding Agreement of 37m was repaid subsequent to the year end (partly AWB sale proceeds).

Unfortunately we know from SP's press statement that we have had to borrow again under the Funding Agreement in view of the uncertainty due to Coronavirus. Sky and others are seeking a rebate of TV monies and one estimate has Palace having to forgo around 10m. Also gate receipt losses etc. etc.
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  #74  
Old 29-05-2020, 02:05 PM
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Quote:
Originally Posted by Chris K View Post
There was an article in the Athletic the other day saying that Bloom's investment in them was now 362m, 81m between 2017 and 2019. There was a lovely comment at the end saying that they're a club abiding by the principles of sustainability which was "interesting" given the 150m on transfers in the last two seasons
My figure of 272m was loans only. In addition he has 90m in shares
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  #75  
Old 29-05-2020, 02:09 PM
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Quote:
Originally Posted by Chris K View Post
There was an article in the Athletic the other day saying that Bloom's investment in them was now 362m, 81m between 2017 and 2019. There was a lovely comment at the end saying that they're a club abiding by the principles of sustainability which was "interesting" given the 150m on transfers in the last two seasons
Yep. Swiss Ramble sums it up well with his Brighton analysis. Mr Bloom has lent the club 272m interest free which gives them a competitive advantage over other clubs. Plus there are 8m of other debts. He's also put in over 80m of equity.

You can also see Brighton's figures are deteriorating. In 2018/19 their revenue increased 4m but their costs 40m. A further splurge on transfers for the 2019/20 season will mean higher wages and player amortizations. They will be looking at a huge loss when their new figures are released in December.
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  #76  
Old 29-05-2020, 03:25 PM
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Amortisation of player registrations is going to change dramatically over the next couple of seasons.
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  #77  
Old 29-05-2020, 04:04 PM
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Originally Posted by GreatGonzo View Post
Amortisation of player registrations is going to change dramatically over the next couple of seasons.
It's still 35m plus for the next couple of seasons according to my figures but then as you say it changes dramatically.

Unfortunately by then we might struggle to put 11 players on the pitch
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  #78  
Old 29-05-2020, 04:29 PM
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Originally Posted by ChiswickEagle View Post
Not gonna argue with that. But AWBs sale was not unexpected. And not the only sale that kept us going.
I think the real point is that we wouldnt have to sell players like AWB and Wilf if we hadnt spent so much on the likes of Benteke and Sakho. With the amount of TV money we receive we really shouldnt have to sell anyone but our previous spending sprees have now caught up with us.

Fortunately it seems that the owners have learnt from this experience, hence the minimal recent spending, but there are still some difficult financial obstacles ahead as our wage bill is still very high and the squad is old.
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Old 29-05-2020, 06:31 PM
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  #80  
Old 29-05-2020, 06:36 PM
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Quote:
Originally Posted by Billy Rhino View Post
I think the real point is that we wouldnt have to sell players like AWB and Wilf if we hadnt spent so much on the likes of Benteke and Sakho. With the amount of TV money we receive we really shouldnt have to sell anyone but our previous spending sprees have now caught up with us.

Fortunately it seems that the owners have learnt from this experience, hence the minimal recent spending, but there are still some difficult financial obstacles ahead as our wage bill is still very high and the squad is old.
If he hadn't spent so much on Benteke and Sakho we might not be in the Premier League. Benteke scored a lot of goals in his first season and we may well have gone down without him - we didn't finish safely in the middle that season. Sakho was also vital in his loan half season and very good in Roy's first season. He made Wilf's winner in his first game back which gained out first points of a campaign where we had lost our first 7 and in danger of being cut adrift.

All ifs and buts.
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