The Albion posts losses of £14.7m

Guinness Boy · Feb 5, 2014

DarrenFreemansPerm said:
Too slow. Post #90 already covered the self righteous side of things

I think by self righteous you mean "correct assessment of the situation". Not that I had a chance to analyse 7 pages of thread in minute detail. Still, thanks for pointing it out. [MENTION=16159]Bold Seagull[/MENTION] now has 5 thumbs up instead of 4.

HawkTheSeagull · Feb 5, 2014

Syph said:
We made £3m profit and got promoted, mostly due to player sales.

This will be taken the wrong way (coming from a Palace fan), but how have you not managed to turn those record attendances into reduced loses? Something doesn't add up to me.

Yes, we spent too much on players and have had pretty much no transfer income unlike you. Bigger sponsorship deals didnt count towards this years amount either. Next year it will be a big reduction without a doubt.

The new kits in the Summer might also have an affect.

PILTDOWN MAN · Feb 5, 2014

Pavilionaire said:
Yes, there is depreciation and amortisation in the Profit & Loss but Tony would have funded capital expenditure like early work on the training ground plus capital outlay on players. I think he might well have spent more than £15million, not less.

I agree about DK. Dick really dodged a bullet when Bloom came forward to finance this project; Dick's reputation would have been left in tatters had he been shown as powerless to make it happen. I was at fans' forums when he dodged questions about how the stadium costs were to be financed, and that was before costs more than doubled.

Sorry I didn't mean he hadn't put that money in but I meant not to cover the loss of 15 million. I'm sure he has put much more especially for the training ground.

Guinness Boy · Feb 5, 2014

Syph said:
We made £3m profit and got promoted, entirely down to Zaha.

Corrected for you.

DarrenFreemansPerm · Feb 5, 2014

Guinness Boy said:
I think by self righteous you mean "correct assessment of the situation". Not that I had a chance to analyse 7 pages of thread in minute detail. Still, thanks for pointing it out. [MENTION=16159]Bold Seagull[/MENTION] now has 5 thumbs up instead of 4.

Well done on succesfully looking way beyond some people being disappointed by the transfer window, something which is worlds away from being upset that the club didn't spunk a load of money on another Dobbie. I'll give you a thumbsup as that obviously means something special to you :thumbsup:

Alex Alex Dawson oo! oo! · Feb 5, 2014

HawkTheSeagull said:
CMS wouldnt have affected the 12-13 financial year as it happened in the Summer of 2011. Vicente, Wayne Bridge, Orlandi, Ulloa, Kooshack, Upson, Dave, Hammond and Crofts all wouldnt have been cheap, including signing on fees.

Assuming CMS is on a 4 year contract (I can't remember what it is), there will be an amortisation (depreciation) charge of 25% of his transfer fee to the P&L. So £750K pa for four years, assuming he cost £3M.

Questions · Feb 5, 2014

Dick Knights Mumm said:
El Pres sure knows his onions on the old finances.

And porn ! Don't forget porn.

chaileyjem · Feb 5, 2014

There's some fairly impartial explanation of cpfc finances for 2011/12 here via
http://www.flyinghighmag.com/moneyball-crystal-palace-accounts-released/

- CPFC have announced losses of £2.5m for the financial year ending 30 June 2012 – down from £9.5m in the previous year.
- Turnover increased by £2.3m from £12.7m to £15m – “The main reason for the increase was a successful Carling Cup run,” beating Manchester United en route, according to the report.
- These figures dosn’t include the Zaha transfer deal, though it is noted that “post-balance sheet events” have occurred which will see the club due £13,344,437 “in respect of player sales”.
- Post-balance sheet: purchases of £1,050,000.
- Wages at the club increased to £11,270,929 from £8,365,200.
- Approximately £1m was spent on capital expenditure projects – the restaurant and bars in the main stand have been improved, HD TVs have been placed around the ground.
- The sum also includes “major resurfacing” of the Selhurst pitch.
- Training ground improvements also continue “in accordance with the requirements of EPPP”.
- Clauses in player contracts could see the club pay out £4,958,060 to other football club if all clauses are met – £1,080,000 of which would be paid out upon achieving promotion.
- The average attendance was 14,697 – not a notable increase on the previous year; though this year has seen a rise to 16,500.
- Three of four directors took no salary.

seagullsovergrimsby · Feb 5, 2014

Syph said:
We made £3m profit and got promoted, mostly due to player sales.

This will be taken the wrong way (coming from a Palace fan), but how have you not managed to turn those record attendances into reduced loses? Something doesn't add up to me.

Take off the money you got for Winifred & Clyne and the Palace accounts would have shown a £10M loss. Basically if a Championship club doesn't sell any players for a profit there is no way they can end up in the black.

reigate · Feb 5, 2014

HawkTheSeagull said:
CMS wouldnt have affected the 12-13 financial year as it happened in the Summer of 2011. Vicente, Wayne Bridge, Orlandi, Ulloa, Kooshack, Upson, Dave, Hammond and Crofts all wouldnt have been cheap, including signing on fees.

Depending on accounting policy, they might be Amortising the cms value over the length of his contract. They may even have written him off after the injury.

chaileyjem · Feb 5, 2014

and here's the details of Palace for 2012/13
via http://www.yourlocalguardian.co.uk/...h_promises_to_continue_to_spend_money_wisely/

CPFC 2010 Limited, which is the club’s trading company, posted a £1.6 million trade profit for the 2012/13 season, with a further £1.7m of tax losses added on.

Player sales including the likes of Wilfried Zaha to Manchester United and Nathaniel Clyne to Southampton brought in nearly £14 million to the club.

There was also added expense for promotion, with £4.6m worth of bonuses being paid out.

The report also adds that after the accounts had been submitted, Palace purchased the Beckenham training ground for £2.3m and spent £16.26m on players.

Staff costs also rose from £11.7m in 2012 to £18.75 in 2013, with the size of the playing squad, coaching staff and the club’s commercial and administrative team also rising.

Dougie · Feb 5, 2014

seagullsovergrimsby said:
Take off the money you got for Winifred & Clyne and the Palace accounts would have shown a £10M loss. Basically if a Championship club doesn't sell any players for a profit there is no way they can end up in the black.

Syph · Feb 5, 2014

seagullsovergrimsby said:
Take off the money you got for Winifred & Clyne and the Palace accounts would have shown a £10M loss. Basically if a Championship club doesn't sell any players for a profit there is no way they can end up in the black.

But that's the nature of football, unless you are one of around four clubs, you have to sell players. Shows how well we have done, to sell talent and get promoted.

I stand by my earlier point. Lower gates, forgetting the Zaha/Clyne money, we still would have posted a smaller loss than you. Something is not right there.

Black Rod · Feb 5, 2014

seagullsovergrimsby said:
Take off the money you got for Winifred & Clyne and the Palace accounts would have shown a £10M loss. Basically if a Championship club doesn't sell any players for a profit there is no way they can end up in the black.

Palace have a consistent record of producing players that they can then sell on for profit. We don't. Imagine if George Barker had fired us to promotion and then moved to Manchester United for £12m? Instead our products get shipped out to League One at best. Hopefully the new training ground will address that issue

El Presidente · Feb 5, 2014

Syph said:
But that's the nature of football, unless you are one of around four clubs, you have to sell players. Shows how well we have done, to sell talent and get promoted.

I stand by my earlier point. Lower gates, forgetting the Zaha/Clyne money, we still would have posted a smaller loss than you. Something is not right there.

We do have some costs that are higher than Palace's though. Transport costs come it at about £2.5 million, I think the stadium is now being depreciated, and there were some one off costs too.

Don't get me wrong, Palace did very well last season financially, and will do even better this season.

SIMMO SAYS · Feb 5, 2014

My liver is beyond repair.
I can't see my todger due to my BELLY

This is due to my :drink:

intake---mainly in DICKS BAR.
I cannot spend any more than I do at the moment.
Not including my season ticket in the East Upper & all the London away games, I spend at least £40.00 on booze/pies every home match.
I do become a bit of an easy :drink:

target to my son and his mates-----fecking cheepskates

cobbyseagull · Feb 5, 2014

Was thinking about tv money and we haven't seen too much of Brighton on tv......had a look at Sky games and amazed this isn't shared out more..an example would be Leeds United who between August 2013 and March 2014 will have been on Sky 10 times

whilst we have had 2 games.........

Black Rod · Feb 5, 2014

DarrenFreemansPerm said:
Should Vokes and Vicente be on that list too?

Vicente's wages - which I imagine were pretty high - yes, Vokes no.

seagullsovergrimsby · Feb 5, 2014

Syph said:
But that's the nature of football, unless you are one of around four clubs, you have to sell players. Shows how well we have done, to sell talent and get promoted.

I stand by my earlier point. Lower gates, forgetting the Zaha/Clyne money, we still would have posted a smaller loss than you. Something is not right there.

Until we see a breakdown of the figure we wont know for certain if depreciation on the stadium is included for the first time and other losses have been brought forward so they don't get included in the 13/14 accounts.

El Presidente · Feb 5, 2014

Questions said:
And porn ! Don't forget porn.

I NEVER forget Porn Q, don't worry!

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The Albion posts losses of £14.7m

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