Club Accounts to June 2007 - £2.9 million Loss!

[Bugs Hill]

The club have now filed accounts for year ended 30th June 2007.

The headline number is that the club lost £2.9 million compared with a loss of £253k in year ended 30th June 2006.

The main differences from the previous year can be summarised as :

Decrease in Gate Receipts - £208k
Decrease in Football League Distribution - £756k (due to relegation)
Decrease in TV revenue - £40k
Decrease in income from Player Transfers - £1,715k - (£410k compared to £2,125k)

Wages and Salaries reduced by £292k (£3.6m compared with £3.3m in previous year)

It appears that the loss has been mainly funded by the issue of £1.4 m of new shares in the Holding Company which has been loaned to the club, and an additional £1.6 m of interest free loans secured by the club - presumably from shareholders and associates.

Congratulations to Dick Knight and the Board for continuing to secure the funding to keep the club running; and a big thank you to those shareholders who are providing the cash!

 

[dougdeep]

I thought it would have been more. Still worrying though.

 

[Robdinho]

The club have now filed accounts for year ended 30th June 2007.

The headline number is that the club lost £2.9 million compared with a loss of £253k in year ended 30th June 2006.

The main differences from the previous year can be summarised as :

Decrease in Gate Receipts - £208k
Decrease in Football League Distribution - £756k (due to relegation)
Decrease in TV revenue - £40k
Decrease in income from Player Transfers - £1,715k - (£410k compared to £2,125k)

Wages and Salaries reduced by £292k (£3.6m compared with £3.3m in previous year)

It appears that the loss has been mainly funded by the issue of £1.4 m of new shares in the Holding Company which has been loaned to the club, and an additional £1.6 m of interest free loans secured by the club - presumably from shareholders and associates.

Congratulations to Dick Knight and the Board for continuing to secure the funding to keep the club running; and a big thank you to those shareholders who are providing the cash!

I hope the people who say "we don't want to go up cos we can't afford it" see this and realise their ignorance.

 

[eastlondonseagull]

I blame (in part) the stay-away fans. If we had more bums on seats, we'd be a fair bit better off.

We played some good football this season, let's hope renewals are up next year.

.

 

[BensGrandad]

We played some good football this season, let's hope renewals are up next year.

.

That will show up on the account submitted in 2010 as the ones on show now relate to the period up to June 2007. ie. season 06/07 the drop off of the gates for this season, 07/08 will not be shown until this time next year. Enext season 08/09 will show in June 2010 when we shall be , hopefully near to going into Falmer.

 

[Deano's Invisible Pants]

I blame (in part) the stay-away fans. If we had more bums on seats, we'd be a fair bit better off.

.

True, but if you look at the figures, the lower attendance figures have made a difference of 200k, small beer compared to loss of TV / sponsorship money and, in particular, lower transfer fees. Let's remember though that much of the 2.125m in transfers was the 1.5m that Strachan amusingly paid for Adam Virgo! Without that deal of the century the year-on-year difference would have been much less pronounced.

 

[El Presidente]

Perhaps it shows that Mark McGhee did a pretty good job after all. The TOTAL wage bill of the Albion is less than what West Ham are paying annually to................Lucas Neill.

If you can only afford to pay peanuts, then what do you expect on the pitch?

 

[BigGully]

Wages and Salaries reduced by £292k (£3.6m compared with £3.3m in previous year)

I know its a Sunday, but isnt that an increase ??

 

[Lord Bracknell]

What's included in "wages and salaries"?

How much of the £3.6 million is for staff such as stewards? Stewards are now directly employed by the club. Once upon a time they were employed by Ecovert and the costs presumably appeared in a different line of the accounts.

 

[BigGully]

What's included in "wages and salaries"?

How much of the £3.6 million is for staff such as stewards? Stewards are now directly employed by the club. Once upon a time they were employed by Ecovert and the costs presumably appeared in a different line of the accounts.

Could that not be said about the previous years figure £3.3 million as well ?

If wages and salaries went from £3.3 million to £3.6 million that seems like an increase to me.

 

[Lord Bracknell]

Could that not be said about the previous years figure £3.3 million as well ?

Possibly. I can't remember when the change happened.

 

[bigc]

Possibly. I can't remember when the change happened.

March 2003 I believe, certainly around that time anyway.

 

[Bugs Hill]

Wages and Salaries reduced by £292k (£3.6m compared with £3.3m in previous year)

I know its a Sunday, but isnt that an increase ??

Sorry, - yes it is a Sunday!, and it should say - reduced from £3.6 m in 2006 to £3.3 m in 2007.

The £3.3 m is the total wages for an average of 43 players, 1 director, 39 management and admin staff , and 176 part-time stewards

 

[Publius Ovidius]

I hope the people who say "we don't want to go up cos we can't afford it" see this and realise their ignorance.

surely that is the prefect reason why we cant afford to go up...isnt it?