An Away Move Posted 23 May 2014 Posted 23 May 2014 Interesting reading in The Guardian today. In the 2012-13 season our wages were reported to be 133% of our turnover according to our own published accounts. Survival of the fittest: club-by-club guide The following article also mentions that this season's play off final is worth £120 million to the winner, 'Shaun Harvey, the Football League’s chief executive, pointed out this means that the winner will receive the same from one season in the Premier League as “from playing in the Championship for the next 30 yearsâ€.' Chnampionship clubs rack up £1bn debt Thank God we are up!!!
davieG Posted 23 May 2014 Posted 23 May 2014 Ownership 100% owned by King Power International, registered in Thailand, owned by Vichai Srivaddhanaprabha Turnover £19.6m 8th highest in the league Wage bill £26.1m 5th highest in the league Wage as a proportion of turnover 133% Directors’ pay £142,000; there were 5 firectors; highest paid received £133,000 Loss before tax £34m Net debt £111.3m Interest payable £7.2m Accounts for the year to 31 May 2013 State they’re in Standout spenders of the Championship, finally promoted this season. King Power, the Thai-owned duty free conglomerate, bought the club in 2010, explaining “The takeover will internationally promote the reputation of Thailand and the capability of a Thai company to strengthen an English football club.†During 2012-13 King Power provided £80m further loans. While the club say they sought to cut costs since, they are expected to have made another huge loss, fail the financial fair play rules they now oppose, and incur a fine Why do Newspapers seem to be unable to get hold of the latest news?
Guest Foxin_mad Posted 23 May 2014 Posted 23 May 2014 I would not worry about the Guardian reporting, shitty left wing rag only fit for arse wiping very rarely has anything substantiated within. I see they miss out the debt to equity swap so now no Interest, and Stadium Purchase.
An Away Move Posted 23 May 2014 Author Posted 23 May 2014 I see they miss out the debt to equity swap so now no Interest, and Stadium Purchase. I believe that will show in the 2013-14 figures. True that they have missed it in 'the state they're in now'.
Dan Posted 23 May 2014 Posted 23 May 2014 These kinds of figures are always dated but they're pretty dodgy either way. Glad they're history.
Babylon Posted 23 May 2014 Posted 23 May 2014 Ownership 100% owned by King Power International, registered in Thailand, owned by Vichai Srivaddhanaprabha Turnover £19.6m 8th highest in the league Wage bill £26.1m 5th highest in the league Wage as a proportion of turnover 133% Directors’ pay £142,000; there were 5 firectors; highest paid received £133,000 Loss before tax £34m Net debt £111.3m Interest payable £7.2m Accounts for the year to 31 May 2013 State they’re in Standout spenders of the Championship, finally promoted this season. King Power, the Thai-owned duty free conglomerate, bought the club in 2010, explaining “The takeover will internationally promote the reputation of Thailand and the capability of a Thai company to strengthen an English football club.†During 2012-13 King Power provided £80m further loans. While the club say they sought to cut costs since, they are expected to have made another huge loss, fail the financial fair play rules they now oppose, and incur a fine Why do Newspapers seem to be unable to get hold of the latest news? David Conn has had it in for us for months now. For a man who likes to make out he's well researched and knows what he's talking about he doesn't bother actually scratching the surface of the figures themselves. He's the guy who does the maths for any fine on the £34m loss, completely ignoring the fact that £7m worth of loan payments from last season aren't now payable, £5m worth of squad revaluation last season will not show as a loss this season. We are allowed to make an £8m loss if covered by the owners and there are numberous things that don't count to FFP (which the club valued at £5m). So that's already £25m of last seasons loss that we would not be applicable this season, or to any fine we got. This is before player sales, money saved on wages by ridding ourselves of big earners, increased revenue through higher crowds and more sponsorship, or any other creative accounting.
davieG Posted 23 May 2014 Posted 23 May 2014 i find the directors pay interesting I think most people would be interested in getting what the directors are getting
Out Foxed Posted 23 May 2014 Posted 23 May 2014 I think most people would be interested in getting what the directors are getting haha, indeed
Guest Foxin_mad Posted 23 May 2014 Posted 23 May 2014 David Conn has had it in for us for months now. Typical halfwit liberal left Journo, full of shit and always on a morale high ground. That paper is so full of shit. The irony is the Guardian group has been loss making for years (£100000 a day at last count), probably propped up by some left wing political idiot afraid of losing their tripe filled mouth piece; the sooner the loss making piece of crap goes bust the better.
MattGamble92 Posted 23 May 2014 Posted 23 May 2014 I'd still like to know why the **** owners can buy a club and loan money to it at an interest rate. Surely that is the one fundamental problem in football ownership
Guest ttfn Posted 23 May 2014 Posted 23 May 2014 5th highest wage bill No more than £3 million spent on transfers in the last 18 months. Stand out spenders.
MooseBreath Posted 23 May 2014 Posted 23 May 2014 Left wing media in fundamental financial illiteracy shocker
Corky Posted 23 May 2014 Posted 23 May 2014 Burnley- 13th highest wage bill Derby- 18th highest wage bill McClaren > Dyche
dsr-burnley Posted 23 May 2014 Posted 23 May 2014 Burnley- 13th highest wage bill Derby- 18th highest wage bill McClaren > Dyche Clough was Derby's manager, Dyche was Burnley's manager for only half the season, and Derby finished ahead of Burnley by a single goal. The accounts for the year ended Summer 2014 haven't been released yet.
Kyle_Le_Don Posted 23 May 2014 Posted 23 May 2014 Typical halfwit liberal left Journo, full of shit and always on a morale high ground. That paper is so full of shit. The irony is the Guardian group has been loss making for years (£100000 a day at last count), probably propped up by some left wing political idiot afraid of losing their tripe filled mouth piece; the sooner the loss making piece of crap goes bust the better. Who has that kind of money to lose?!
Guest bennytwohats Posted 25 May 2014 Posted 25 May 2014 I'd still like to know why the **** owners can buy a club and loan money to it at an interest rate. Surely that is the one fundamental problem in football ownership It's fairly fundamental to the whole finance/economics thing. When you lend money you actually lose value because the value of that money is eroded through inflation. If you bought government bonds (lent to the goverment) you would get some kind of return which is generally seen as risk free. Here you are talking about lending to an entity which could default on its' debt and never give you your capital back - you would expect a return on top of the risk-free return for the extra risk involved. Why should they lend with zero interest? Wouldn't make sense
Guest Foxin_mad Posted 29 May 2014 Posted 29 May 2014 Who has that kind of money to lose?! Probabaly some **** like Scargill or McCluskey happy to take other peoples money to fund their own exuberant lifestyles......horrible cnuts. Its alright though because they work for the people, give power to the people by err listening to their votes and passing a motion when only a small number agree, proper socialists and ate them nasty tories.
cc_star Posted 29 May 2014 Posted 29 May 2014 Typical halfwit liberal left Journo, full of shit and always on a morale high ground. That paper is so full of shit. The irony is the Guardian group has been loss making for years (£100000 a day at last count), probably propped up by some left wing political idiot afraid of losing their tripe filled mouth piece; the sooner the loss making piece of crap goes bust the better. Plenty of creative accounting of their own, which their readers turn a blind eye too Setting up overseas corps to sell assets avoiding tax on those sales, even their HQ is in some overseas trust & that's just scratching the surface Meanwhile their rag is full of pointing out other companies who do similar & their readership lap it up
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