The FFP thread
- Thread starter SydneyTiger14
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"The accounts" show a 3m profit two seasons ago and an 8m loss a season ago. We don't yet know the figure from the last season completed.
He didn't answer when asked what last seasons loss was and went on to say he expected to lose 10-15m per year, which is loosely in line with FFP.
Depends what he's spending it on. Spending on infrastructure is exempt from FFP. If he's spending 10-15m* a season on our squad then that's irresponsibly ridiculous.
*Considering you amortise transfer fees over the life of a contract.
How is it? It's how you compete with teams spending the same. He has the money to invest so why is it irresponsible and ridiculous?
Because not spending on the long term assets of the club would be foolhardy. The club needs to be sustainable. I don't want us gambling our future so that he can ride off in 10 years with us saddled with debt.
How do you know he isn't? Infrastructure spending wasn't discussed but the plans for the academy were detaililed in the 'i' by Tan.
Acun's wealth isn't the issue, the cap on squad investment is what he's complaining about. Clearly would spend more if allowed
We lost £8m last year, but made £2.5m the year before and another £2.5m the year before that (though I've no idea if the SMC numbers are taken into account).
I don't think the SMC losses can be taken into account for FFP or other clubs would use profitable ventures to offset losses.
Was the £2.5 profit to June 22, as I've just listened back and he said we lost £8m, 20/21 and £11m the year before that?
I’ve not listened, but is he combining Hull City and SMC accounts together when stating those losses?
We don't know what the 2022 accounts show, they're not filed until the end of September.
The last three years for the club are £8m loss / £2.5m profit / £2.5m profit and it can't be down to the SMC either, as their losses are only £1.5-2m a year (and that includes the COVID season).
Pretty sure that the majority of Bowen's fee was accrued into future years to offset losses, so shouldn't be an 8m loss last year unless Covid impacted far more on revenue than seems possible.