The Breakfast Debate

Good Morning Everyone,

Leeds United have released their accounts for the 2015-16 financial year. Bottom line is an £8.9m loss, up from £2m in 2014-15.

Turnover for 15-16 was up by around £6m, helped by catering income on the back of Cellino cancelling the Compass deal.

£8.9m loss is due in part to drop in earnings from player transfers and £3.5m exceptional costs relating to commercial disputes (Macron etc)

One thing that jumped out is that the £17m debt owed to GFH has been renegotiated again

Leeds were due to pay £13.5m to GFH in a one-off sum if they were promoted before 2019. Entire £17m will now be paid in annual installments

That basically means that if Leeds go up this season, they won't face an immediate payment of £13.5m to GFH, as would have been the case

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Other bits from accounts - they confirm that the £5m of #lufc shares issued in Sept. was the conversion of a £5m debt owed to Eleonora Sport

The creditors from 2007 insolvency are still owed £4.75m if #lufc win promotion to the PL before end of this season.

Total staff wage bill went from £19.8m in 14-15 to £18.1m in 15-16. Cellino expected player wage bill in 15-16 to be around £13m

 

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Morning Matt and all. Good to see the dats of annual 22m losses gone. Clearly owners are satisfied with figures and willing to make up the shortfall or Taylor would have been sold off to bridge the gap. Anyway, all irrelevant, as Leeds are going up

 

Morning Eire, I thought it was particularly nice for Millwall to get a mention in the bar graphs.

 

I think the graphs show we are punching way above our weight in the league when you look at wages & wages to turnover. garry Monk is a fkg genius and without doubt whatever happens should be manager of the year for this league. It also shows Cellino although brutal in what he did with regards to Lucy Ward etc, has actually turned the club around & the catering deal saved £3.5m. On top of that he hasnt done whats happened every year for ages and relied on player sales to massage the books, otherwise he would have made a profit, but reality is he lost £5m. The gate reciepts were lower than Norwich because they were winning and going up whilst we struggles as usual and only got 20,000. Watch what happens in the next accounts as you will see us back at the top of that data set and with a profit this season without selling our best and brightest. Cooke and Byram money will also be included so a big profit. The GFH debt still hanging around is another by product of Bates and Haigh. This season has been brilliant and not over yet. £150m lottery win if we pull it off

 

Morning all, so 8.9m in losses... next season should look much better then with gate receipts up this season, we hopefully won't have 3.5m exceptional costs and Cellino expects the wage bill to drop this season by £5m

In all, even without promotion we must surely find ourselves in profit next season?

 

How good is Simon Grayson doing at Preston, as he aint even on those graphs as he was in L1. Now just outside play offs and guaranteed not to have the gates or wages/turnover. Was our best manager for years and what he did with no cash under Bates was amazing when you look back. Monk is probably more up to date?

 

So Cellino hasn't sorted the clubs finances then.,

Wen you factor in the Cook and Byram money and our much reduced running costs exactly how much has Cellino creamed off. I reckon somewhere between £12 and £18mill. Not bad work if you can get it.

He makes Bates look like Mother Theresa.


Conclusion expect Wood to be sold in the summer and the money to disappear if we don't go up!

 

Don't these figures include Byram and Cooks money from what I read elsewhere yesterday?

 

15-16 accounts so think you wont see that money, at worst maybe Byram falls inside, but not Cook. 16-17 we should see major change but then depends where Cellino has put the Lucy Ward money or did it in fact get covered by insurance premiums?

 

I think next year's figures will show a bit of difference in the wages and wages / turnover stats.

Not so sure how loanee wages are calculated into the stats, but Barrows is reported to be on 20,000,00 quid a week.

We have 6 loanees at moment now that Hernandez has signed permanent, Jansson may become our top earner.

 

If we don't go up I am certain Jansson wont be here. I donlt believe he can be held to a predated contract even if it exists.

 

you made a 9m loss
you owe GFH 17m
half your squad are loanees
you have zero assets
tv monies was up
merchandise was up
gates were up



no promotion and you are in big poo

 

Nope

 

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I ag, I agr, I agr, I agr...............what you said,lol.