The Albion posts losses of £14.7m

[Betfair Bozo]

But yes, apologies for contributing to the Guscentricity of this thread and thanks in advance to El Pres and co for the effort in drilling down in to the numbers.

 

[jamie (not that one)]

what a pathetic answer, is that going to solve all the clubs issues, think again
regards
DR

Wouldn't solve all the clubs issues but it would certainly provide a better cash cushion to build on then what we currently have.

Regards,

You're a bell end.

 

[dougdeep]

Let's not forget that the rugby games should bring in a bit of extra revenue. I forecast that our debt next year will be £7,999,999. But probably all the other clubs will be that too.

 

[Machiavelli]

So much this. During the "turmoil" we beat Palace 3-0, obliterated Blackpool and pretty much treated the Wolves game as a attacking training exercise.

These are brilliant descriptions of those games. The Wolves game was like a training exercise, and once Kaz had scored two, the real action was between the Wolves fans and players. And the obliteration of Blackpool was just a perfect day out: sunshine in the sky, sunshine on the pitch.

 

[Gordon Smith's Paperboy]

I'm confused.... We've made a loss of £14.7m last season. This season our loss won't be more than £8m but our playing budget has increased slightly compared to last season. So our revenue will be up by £7m this season? Where's that income coming from then?

 

[El Presidente]

Yes but what about the day to day debts. I assume in the accounts the loss is a trading loss, which has depreciation of the stadium in it? ...but are we taking the costs of the training grounds against the trading of the club?

No depreciation of the stadium or training ground costs yet to go through the accounts.

 

[El Presidente]

Although the losses announced are horrible (only for Tony Bloom though, God bless him), it seems we are on course to reduce them this financial year to £8 million...(again, God bless Tony Bloom).

I am sure that the FFP rules will require in future years for the £8 million loss to be reduced further........which, if successful, will be a very good thing for football....(and of course our saviour Tony Bloom).

With the right people running our club, I think the future is bright.

I am also far from convinced that the the Premier League is a good place to be. Yes.....they receive significant sums of money from TV. But what is the point of that....? It seems to me, that all it does is enable them to pay more money for average players, who can maybe win 4-5 games a season against their equally 'poor' rivals in the bottom half of the league table. Then.....having maintained their oh so precious Premier League place........they can go through all the same s**t again. I don't understand why ? None of those clubs are 'rolling' in money when they get relegated. The parachute payments are largely swallowed up paying overpaid, ageing premier players, still on their books. These players weren't good enough to keep them in the Premier League in the first place....yet still they have to be paid.

No....I,m happier with our club 'trying' to get to the Premier League.....but thankful we haven't actually made it.

Yup, sometimes it's better to travel than to arrive (expect with that barmaid from The Dog and Hammer in 1986, but that's another story).

 

[jabba]

No depreciation of the stadium or training ground costs yet to go through the accounts.

Where is this info from? Could have accounted for a few million.
PS. Everyone seems to have assumed that we would have won the Wembley final to get promotion last season........

 

[Brighton Breezy]

I would be more happy having a competitive Championship team which was affordable to watch than a struggling mid table down Premier League team who overpaid average players, charged a lot for tickets, and was interested only in competing with the other bottom eight clubs.

What is the POINT of having the Premier League millions unless you are one of the teams competing at the top end?

 

[gravnast]

A wild guess indeed he's worth a lot more than one billion

Really? ok

 

[cjd]

I would be more happy having a competitive Championship team which was affordable to watch than a struggling mid table down Premier League team who overpaid average players, charged a lot for tickets, and was interested only in competing with the other bottom eight clubs.

What is the POINT of having the Premier League millions unless you are one of the teams competing at the top end?

70% of the clubs in the bottom half of the Premier League have had to change their manager this season.

So.....you have to pay for your overpriced season ticket.....even though virtually all your games will be on TV or streamed. You will almost certainly have to watch a different style of football, as your manager is despatched. Another huge wedge of your season ticket money spent on 'new' players for the 'new' manager...only to have them discarded 6 months later. The joy of watching matches on Sturday lunchtime, Sun day lunchtime, Sunday afternoon, Monday evening.......and as a very special treat......every so often, a game at 3 o clock on a Saturday.

All this....and of course the well worn football bollocks...."well, he (the new manager) needs a year to get the players to understand how he wants them to play".

Absolutely pathetic. I cannot think of anything worse than the Premier League.

 

[Publius Ovidius]

The hedge fund that put Palace into admin were owed about £4.5 mill by the owner S.Jordon.

Back in the 90s I had a long chat with Ron Noads the then Palace chairman...and one thing he said really struck a cord "if fans think the money they pay at the gate makes any dent in the clubs finances they a sadly mistaken" and went on to say whether 30000 or 10000 the difference was only a few hundred pounds and that T.V is the money maker!!!

Sadly that seems to be true.

I had the pleasure to interview an owner of a French club who were over here for a couple of pre season friendlies a few years ago and he said exactly the same was the case in Europe.

Although, if fans give up on their club, they are in effect finished, he was saying that they had looked to increase prices by as much as 20 euros a ticket, and this was the French first division and he said it would have been a splash in the ocean.

He thought that there would have to be a restructuring of football all over europe, but his main fear was that the Champions League would become just that, with a division 1 and two in europe taking the top teams and them leaving their respective leagues to play in this European league. He wouldn't be drawn into relegation and promotion from this, but said that he thought that the remaining leagues around Europe including the UK would be hung out to dry as all the the TV money and sponsorship would be centred around this set up.

Looking at how every club is now posting some sort of losses, I think this is getting nearer.

 

[Guinness Boy]

I would be more happy having a competitive Championship team which was affordable to watch than a struggling mid table down Premier League team who overpaid average players, charged a lot for tickets, and was interested only in competing with the other bottom eight clubs.

What is the POINT of having the Premier League millions unless you are one of the teams competing at the top end?

Not to mention hardly ever played at Saturday 3pm.

But the point is that it is fairly much impossible to have a competitive Championship team that are also affordable to watch. This league is a money pit. There is very little tv income compared to the Premier League yet the players still all expect to be paid over 10k a week with typical transfer fees of over a million.

What's needed is a Europe wide, club level, salary cap system. That's never going to happen.

I agree that the Premier League is far from all it's cracked up to be and that it would be a perennial struggle but the alternative is actually very risky. Pitching the club would grow increasingly difficult and Tony Bloom would be digging further and further in to his already deep pockets.

 

[Publius Ovidius]

No depreciation of the stadium or training ground costs yet to go through the accounts.

So is FFP based on "trading loss" not including depreciation? Because the amortisation of a 100million pound stadium over 25 years will be a hit to the accounts of £4m a year. So if we have £15 million loss now, we need to get that down to £8m loss next year. (that is £7million profit plus the £4 million amortisation ) so we need to turn a £11 million profit next year over what we have done this year to hit an 8 million loss.

Where are we going to save £11 million pounds?

 

[Peter Grummit]

No depreciation of the stadium or training ground costs yet to go through the accounts.

Sorry EP, does this mean that none of the costs of expanding the stadium (which almost entirely occurred in this accounting period) will be part of the £14.7m loss?

PG

 

[Papa Lazarou]

I would be more happy having a competitive Championship team which was affordable to watch than a struggling mid table down Premier League team who overpaid average players, charged a lot for tickets, and was interested only in competing with the other bottom eight clubs.

What is the POINT of having the Premier League millions unless you are one of the teams competing at the top end?

Perhaps that's the way forward - establish ourselves as a competitive Championship team, flirting with the playoff each year, and really focus on going as far as possible in both cup competitions - after all, this is the only place where any vestige of 'romance' in football remains.

 

[Alex Alex Dawson oo! oo!]

Where is this info from? Could have accounted for a few million.
PS. Everyone seems to have assumed that we would have won the Wembley final to get promotion last season........

The 2011/12 accounts specifically state that no stadium depreciation has been included because the build is unfinished and that the Directors will review the position at the end of the 2012/13 financial year (ie 30 June 2013). El Pres, and others, who are familiar with this stuff believe that stadium depreciation will be included in the 2012/13 accounts that were reported yesterday; however, the accounts for all three companies ie (football club, stadium and holding company) have yet to appear on the Companies House website.

 

[El Presidente]

Sorry EP, does this mean that none of the costs of expanding the stadium (which almost entirely occurred in this accounting period) will be part of the £14.7m loss?

PG

No. Those costs are excluded, as the stadium and training ground is owned by a separate company, and my understanding is that those costs are not written off to the profit and loss account until the stadium and training grounds are completed.

 

[El Presidente]

The 2011/12 accounts specifically state that no stadium depreciation has been included because the build is unfinished and that the Directors will review the position at the end of the 2012/13 financial year (ie 30 June 2013). El Pres, and others, who are familiar with this stuff believe that stadium depreciation will be included in the 2012/13 accounts that were reported yesterday; however, the accounts for all three companies ie (football club, stadium and holding company) have yet to appear on the Companies House website.

No depreciation for 2012/13 because the stadium was still in the course of construction. It's a bit surprising, but acceptable.

 

[Creaky]

So is FFP based on "trading loss" not including depreciation? Because the amortisation of a 100million pound stadium over 25 years will be a hit to the accounts of £4m a year. So if we have £15 million loss now, we need to get that down to £8m loss next year. (that is £7million profit plus the £4 million amortisation ) so we need to turn a £11 million profit next year over what we have done this year to hit an 8 million loss.

Where are we going to save £11 million pounds?

The FFP rules state that investment in infrastructure need not be included in accounts submitted to them although they will be included in the statutory accounts.