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Post by LJG on Feb 28, 2018 18:35:23 GMT
How can we be making losses if Dwane aren't prepared to spend any money on us? It would only be evidence of them spending money on us if and when they write the debt off. Not really. The money will have been spent. The fact that it's possible for them to recover that via a sale of the assets is a bit of a different matter.
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Post by singupgas on Feb 28, 2018 18:45:19 GMT
Maybe Dan Snyder going to help us with this one.
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Post by Topper Gas on Feb 28, 2018 18:51:20 GMT
It would only be evidence of them spending money on us if and when they write the debt off. Not really. The money will have been spent. The fact that it's possible for them to recover that via a sale of the assets is a bit of a different matter. That's assuming the assets are still greater than the debts? If the Mem is worth around £15m it can be long now before the we have no assets if we continue to lose £2m/3m p.a. It will be interesting to know where all this money is being spent given that DC's continually complaining about his budget.
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Post by Severncider on Feb 28, 2018 18:54:44 GMT
In the last financial year we lost £3,052,454 as opposed to £3,204,433 the previous year, so we are going in the right direction.
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Post by daniel300380 on Feb 28, 2018 18:58:51 GMT
Not surprising really, most were probably expecting to make big losses. We will until we get a new stadium. It's how the losses are managed in the meantime, that matters.
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Post by pucklegas on Feb 28, 2018 19:08:09 GMT
Thanks for the detailed post. Where were you “hanging around “ when you heard this? Lawrence Hill bogs😂😂
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Post by islandgas on Feb 28, 2018 19:17:34 GMT
I wouldn't have thought that our player's wages are that high and according to DC the development squad are paid peanuts, so where is the money being spent? Bottom 6 budget with what are decent attendances for us. Something isn't right here!
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Post by Big Jock on Feb 28, 2018 19:20:16 GMT
WAQ and Hamer respond ta th news............ "Through th roof, Through th roof" "Through th roof, Through th roof"
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Post by peterparker on Feb 28, 2018 19:42:25 GMT
Of course we made a loss. Its not new, but just posting a number means nothing.
We certainly cannot go on making these losses, but the most important thing with these accounts is to compare where (if any) increased expediture is, whether it is part of ongoing current investments. Development squad, Colony etc, etc
Most importantly is finding out the longer term plans of The Al Qadis and the Mem or new ground.
Oh and given people were worried about the credit facility, the owner statement to fund the club to 31 March 2018, interest and the value of 'borrowing' against The Mem etc those would perhaps be the most signifact dates, statements and and amounts to know
You know Context
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Post by Antonio Fargas on Feb 28, 2018 19:48:56 GMT
I wouldn't have thought that our player's wages are that high and according to DC the development squad are paid peanuts, so where is the money being spent? Bottom 6 budget with what are decent attendances for us. Something isn't right here! Training ground and summer transfers would account for a lot of that. Our normal one-and-a-half mil per annum loss accounts for much of the rest. Not sure what is so unbelievable about it.
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Post by peterparker on Feb 28, 2018 19:52:15 GMT
I wouldn't have thought that our player's wages are that high and according to DC the development squad are paid peanuts, so where is the money being spent? Bottom 6 budget with what are decent attendances for us. Something isn't right here! Training ground and summer transfers would account for a lot of that. Our normal one-and-a-half mil per annum loss accounts for much of the rest. Not sure what is so unbelievable about it. Have we not had to pay Nick Higgs some more money as well?
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Post by gasforeverman on Feb 28, 2018 19:53:47 GMT
As it stands our home attendences are 400ish down compared to last season. In the great scheme of things not a huge dent in turnover but if were losing fans thats a real worry
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Post by LJG on Feb 28, 2018 19:55:53 GMT
Not really. The money will have been spent. The fact that it's possible for them to recover that via a sale of the assets is a bit of a different matter. That's assuming the assets are still greater than the debts? If the Mem is worth around £15m it can be long now before the we have no assets if we continue to lose £2m/3m p.a. It will be interesting to know where all this money is being spent given that DC's continually complaining about his budget. No. It wouldn't depend on that at all actually. That would just mean it's no longer possible for them to recover losses above the extent that a sale of assets would cover them. That wouldn't mean the money that has been spent hadnt been spent. Which is the suggestion I was responding to.
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Post by islandgas on Feb 28, 2018 19:58:26 GMT
I wouldn't have thought that our player's wages are that high and according to DC the development squad are paid peanuts, so where is the money being spent? Bottom 6 budget with what are decent attendances for us. Something isn't right here! Training ground and summer transfers would account for a lot of that. Our normal one-and-a-half mil per annum loss accounts for much of the rest. Not sure what is so unbelievable about it. Don't we buy player's every summer. Am sure that is normal expenditure. Can't believe the colony cost 1.5mil!
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Post by South Stand Ultra on Feb 28, 2018 20:00:08 GMT
Training ground and summer transfers would account for a lot of that. Our normal one-and-a-half mil per annum loss accounts for much of the rest. Not sure what is so unbelievable about it. Don't we buy player's every summer. Am sure that is normal expenditure. Can't believe the colony cost 1.5mil! Not £300k & £150k We don't usually spend that much on players.
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Post by islandgas on Feb 28, 2018 20:06:12 GMT
Don't we buy player's every summer. Am sure that is normal expenditure. Can't believe the colony cost 1.5mil! Not £300k & £150k We don't usually spend that much on players. Where does Matty Taylor's transfer fee fit into this? Surely that's £300k of the £450k you mention Whatever way you look at it the current model isn't sustainable so unless Wael can find some cash down the back of the sofa how is the training ground and stadium going to be built?!
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Post by South Stand Ultra on Feb 28, 2018 20:08:16 GMT
Not £300k & £150k We don't usually spend that much on players. Where does Matty Taylor's transfer fee fit into this? Surely that's £300k of the £450k you mention Whatever way you look at it the current model isn't sustainable so unless Wael can find some cash down the back of the sofa how is the training ground and stadium going to be built?! I would have thought MT fee would have been in the previous year accounts?
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Post by Topper Gas on Feb 28, 2018 20:09:29 GMT
I wouldn't have thought that our player's wages are that high and according to DC the development squad are paid peanuts, so where is the money being spent? Bottom 6 budget with what are decent attendances for us. Something isn't right here! Training ground and summer transfers would account for a lot of that. Our normal one-and-a-half mil per annum loss accounts for much of the rest. Not sure what is so unbelievable about it. The training ground was bought directly by Dwane Sports unless the club has subsequently purchased the land from DS why would that cost be now appearing on our accounts? Also last year's accounts included write off (or write down?) losses on the UWE is there more of those this year or are all these losses just related to run the club.
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Post by Topper Gas on Feb 28, 2018 20:13:29 GMT
Not £300k & £150k We don't usually spend that much on players. Where does Matty Taylor's transfer fee fit into this? Surely that's £300k of the £450k you mention Whatever way you look at it the current model isn't sustainable so unless Wael can find some cash down the back of the sofa how is the training ground and stadium going to be built?! That's where I don't get where all this evolution not revolution nonsense comes from the Wael supports like to accept as we're never going to create sufficient surplus income to fund those without a (financial) revolution. Although the way Wael's running up debts we could be the next Dodo of league football soon.
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Post by peterparker on Feb 28, 2018 20:19:44 GMT
Training ground and summer transfers would account for a lot of that. Our normal one-and-a-half mil per annum loss accounts for much of the rest. Not sure what is so unbelievable about it. The training ground was bought directly by Dwane Sports unless the club has subsequently purchased the land from DS why would that cost be now appearing on our accounts? Also last year's accounts included write off (or write down?) losses on the UWE is there more of those this year or are all these losses just related to run the club. Dwane Sports have purchased it. It is possible that it was paid for by 1883ltd though via the credit facility given that 1883ltd is to all intents and purpose Dwane Sports
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