Details are dribbling out about the Clubs Annual Accounts to the year end June 2013. Pertinent points so far are - * Revenue was £73m of which 67% came from the Premiership (ie TV money and League position) [The reveue from 2012 accounts was £77m] * Wages were £66.5m or a tad over 89% of revenue [Wages from 2012 accounts were £58m or 75% of that year’s revenue] * Operating loss was £14.7m [Operating loss from 2012 accounts was £18.7m] The most obvious issue is the whopping increase in the ratio of revenue to wages.
I think wages will be lower this summer, with the departure of Berbatov and the imminent departure of Riise and Duff. Not the greatest figures to see, but certainly not the worst. I would actually be more interested in seeing the company's tax note. But that might be because of the job I do...
Does this include the new tv deal???? I don't think is does so next years accounts ie for this season should have a much higher revenue???? Add Ruiz to the list of high earners leaving in the summer
This set of accounts are for the year to June 2013 and relate to season 2012/13. The next set (ie for the current season) will include the "extra TV money" as you say Cookie, although I'm not sure how it will shown - MAF took a loan out on it which Khan subsequently repaid. Also the wage bill for this year will go up by a tidy sum. Apart from the loan deals and other obvious candidates, Hangeland got a fair hike with his new contract.
Here is a summary of our Financial Accounts for 2012/13 taken from published annual reports at Companies House. Doesn't make for a comfortable read and with the plethora of signings plus a crack in the wages policy, the current season's accounts can only be worse. Ownership: Owned by Shahid Khan, via Big Cat Holdings, a company registered in Bermuda (tax haven), and Cougar HoldCo London, registered in the UK. Turnover: 13th in league, £73m (down from £79m in 2012) Gate and matchday: £12m Europa League: £0.2m TV and broadcasting: £49m Sponsorship and commercial: £11m Compensation: £0.1m Wage bill: 9th highest, £67m (up from £62m in 2012) Wages as proportion of turnover: 92% Loss before tax: £2m (reduced from £18m in 2012) Net debt: £1m Interest payable: £0.3m Highest paid director: Unnamed, £810,000 (Alastair Mackintosh is the chief executive) The state it's in: When Rene Meulensteen was sacked as manager after just two months and replaced by Felix Magath in February, his immediate shell-shocked reflection was that Fulham were "freaking out" about the prospect of relegation. The accounts reveal why. In the Premier League, the club the US automotive magnate Shahid Khan bought in the summer was shaped under Mohamed Al Fayed over 16 years into a tidy operation. Yet the club warns of relegation, in the accounts, as its "main commercial risk," saying: "Revenues would fall in the next two years, to a level which would not finance ongoing contractual commitments." Source: http://www.theguardian.com/football/2014/may/01/premier-league-accounts-club-by-club-david-conn
There doesn't seem to be any mention of the Prize Money from the League position or the transfer fees paid for buying and selling players ? And of course the Owner at the time of season 2012/13 was Chairman Mo not Khan. Wonder if the Jaguars company in the Bahamas is called Billy Badger Holdings
Abrahim Lincoln said, âyou cannot keep out of trouble by spending more than you earn.â How wrong could he be? Here is the Premier League "Prize Money" table for Season 2013/14, as it currently stands: please log in to view this image
I would think that figure of 1.2m - 3.6 has already gone on the payments to Jol, Muelensteen, Curbishley and Wilkins all on gardening duty until July?
Fulham's Broadcast revenue for this season is £63.3m, so I wonder how Khan and MacKintosh will view that. The reports say Khan has pledged to get Fulham back up next season. But I am tending to take with a pinch of salt anything said by Khan or Magath at present as they seem to BS like the best of them. Not convinced. Season tickets have gone on general sale for the same price as they were offered to season-ticket holders who booked early at a special rate to keep their seat and get a £100 discount !!!! So that was a bit of a con (Two Cup home tickets not included in general sale?). No mention of the Fultime Magazine being included next season, so I suspect that has been scrapped. This season both Leicester and Burnley who got promoted dearest ST were under £500 !!!! Dearest at Fulham next season £839 and next £689!!!! so who's paying for failure ?
Definitely a con and that shows the respect towards season ticket holders who bought early... I suppose we paid for the failure or paying as I have renewed my season tickets already! A con because it was advertised that the £100 discount will not be available after 29th April!
Here's a table giving a breakdown of all Premier League payments to all of the clubs for this season: please log in to view this image Can't imagine Mr Khan is overly happy. Our total of £63.3m, with some still to be found, will all have gone on wages.
