Albion losing one million a month?

Hastings gull · Oct 15, 2014

I noticed this para on the club site in the middle of Paul Barber's powerful defence of the prices at the Amex. Did he really mean the Albion, do you think, or was he just banding this figure about using any business. If this is true, and I don't know much about financial matters, I would have thought that this is quite alarming.

Very few businesses, especially one losing nearly a £1 million a month, could or would continue to invest in this way, but thanks to Tony Bloom, the club's ongoing commitment to delivering the best possible experience for supporters can often be overlooked or ignored, especially by those outside of the club.

Mr Smggles · Oct 15, 2014

Hastings gull said:
I noticed this para on the club site in the middle of Paul Barber's powerful defence of the prices at the Amex. Did he really mean the Albion, do you think, or was he just banding this figure about using any business. If this is true, and I don't know much about financial matters, I would have thought that this is quite alarming.

Very few businesses, especially one losing nearly a £1 million a month, could or would continue to invest in this way, but thanks to Tony Bloom, the club's ongoing commitment to delivering the best possible experience for supporters can often be overlooked or ignored, especially by those outside of the club.

Albion lost something like £13.9million last year.

sparkie · Oct 15, 2014

Albion supposedly met FFP last year meaning an FFP loss of under 8 million. Not all loses count towards FFP though, so maybe the actual loss is 12 million in total.

Sheebo · Oct 15, 2014

Mr Smggles said:
Albion lost something like £13.9million last year.

Pretty sure they bunged a lot through in this financial year to help meet financial fair play the next season. With the player sales etc so far I think we won't have a very big loss at all in this current year either...

Hastings gull · Oct 15, 2014

sheebo said:
Pretty sure they bunged a lot through in this financial year to help meet financial fair play the next season. With the player sales etc so far I think we won't have a very big loss at all in this current year either...

Do you think, therefore, that he meant last year, because to me, at least, it sounds awfully like the present. Yes, they had losses but, perhaps naively, I thought that the losses had been stemmed to a large extent.

Sheebo · Oct 15, 2014

Hastings gull said:
Do you think, therefore, that he meant last year, because to me, at least, it sounds awfully like the present. Yes, they had losses but, perhaps naively, I thought that the losses had been stemmed to a large extent.

I did too mate - I haven't heard the video so can't comment yet. I think the £13mil was 2 years ago and we re yet to submit last years and are now in the next year on? It will be interesting to see where the Ulloa fee is factored in. I guess it's in instalments but we can wangle that to go in last years books or the current years depending on how we're doing on ffp. There will be a lot of perfectly legal jiggery pokery going on at all clubs in that respect, I'd imagine....

Barrel of Fun · Oct 15, 2014

They need to pay their players less. That or crank up the prices.

To break even, we need to find an extra £460k a home game. That's well over an additonal 250,000 pints each game. LOCK IN!!!

Psychobilly freakout · Oct 15, 2014

So if we are losing say one million a month due to the expenses of being in the championship chasing promotion, does this mean that Gus was right and our ceiling is a good division one team ie cheaper wages and overheads. No Buisness can continue losing such an amount sugar daddy or not, it's just not viable.

Icy Gull · Oct 15, 2014

I read it that the Albion are currently losing 1 million a month :down:

Gus may well have been right but his timing was appalling.

Return of the Rev · Oct 15, 2014

Icy Gull said:
I read it that the Albion are currently losing 1 million a month

Gus may well have been right but his timing was appalling.

Could be the rotr was right too! :moo:

Geestar · Oct 15, 2014

Barrel of Fun said:
They need to pay their players less. That or crank up the prices.

To break even, we need to find an extra £460k a home game. That's well over an additonal 250,000 pints each game. LOCK IN!!!

Nothing like long booze queues in a lock in

pottert · Oct 15, 2014

If these figures are true this is very alarming.

I'm think I'm right in saying that all losses that are quoted are for year end 2013.

If that is not the case we should be very worried.

We had the highest average attendance in the championship around 27000 & received about 15m in transfer fees.

This season our attendances will be down by about 72000 & we don't have any players to sell.

Horses Arse · Oct 15, 2014

sheebo said:
Pretty sure they bunged a lot through in this financial year to help meet financial fair play the next season. With the player sales etc so far I think we won't have a very big loss at all in this current year either...

I absolutely love the term 'bungled'.

Marvelous!

Damn - just realised it wasn't the well respected 'bungled' - it was the lesser 'bunged'; very dissapointing

Horses Arse · Oct 15, 2014

Hastings gull said:
Do you think, therefore, that he meant last year, because to me, at least, it sounds awfully like the present. Yes, they had losses but, perhaps naively, I thought that the losses had been stemmed to a large extent.

What was Paul Barber's remit? Something to do with reducing losses?

Still, at least he's good at responding to emails quickly. ........

Blue Valkyrie · Oct 15, 2014

I hope he has just used a rough approximation of the last published accounts, which were for Amex year 2.

Things should be getting better, and I'm not sure he'd use more recent figures from incomplete or unpublished accounts.

drew · Oct 15, 2014

Horses Arse said:
What was Paul Barber's remit? Something to do with reducing losses?

Still, at least he's good at responding to emails quickly. ........

What were the losses before then? Are you confusing the words 'reducing' and 'eliminating'?

saafend_seagull · Oct 16, 2014

We ll be league 1 soon so should have nothing to worry about. Relegated prem teams have caused this.

jimbob5 · Oct 16, 2014

I recall when they sold Lawrenson and Horton, got to an FA Cup Final, then sold Stevens, Gregory, Smith, Robinson, Case etc had some good cup runs and promotions battles in the 2nd flight thinking, at least the finances must be sound. Shirley, if you think about it, anyone remotely sensible and intelligent should not be able to financially ruin a football club given the non variable elements of the business.

yxee · Oct 16, 2014

I don't believe it. Accounting tricks or something like that is going on.

Horses Arse · Oct 16, 2014

drew said:
What were the losses before then? Are you confusing the words 'reducing' and 'eliminating'?

Based on figures previously made available there was no material drop in losses, with that explained by some as a slight of hand to deal with the subsequent accounts submitted for FFP regs as they came into force. Paul is now saying that the club is losing £1m a month, which again indicates he has failed to stem the losses and that we are in trouble with regard to FFP. Alternatively of course he could be bullshitting just to support a dig or a whinge at the customers, as he likes to do.

Either way, on the face of it with currently mentioned figures he's failed to do a decent enough job. Leeds, that broken club up North are losing £1m a month and are above us in the league even with joke managers in place and with smaller crowds.

Paul Barber is good at convincing people he's doing a good job but I've seen absolutely no evidence to date and it's evidence that is important rather than a will to believe (which I do understand as a fan rather than a customer).

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