Off the field operations

Is it within or the associate? Isn't that the loan they looked at last year ?

 

The rest is pretty straight forward. Selling Stewart allowed us to bring in few more with basically a net 0.

 

'SAFC’s banking overdraft facility, which stood at £8.2 million on 31st July, 2024, has subsequently been cleared by the Club after securing a working capital facility from an entity associated with the Louis-Dreyfus family.'

Associated, so yes it'll be the one mentioned a while ago, I think.

 

Accounts are good

shows the club are spending (even past our means as shown by the overdraft) glad that’s cleared in house within the associate rather than an outside loan. Clearing that is good for the club.

transfer money in has been spent on players coming in.

creditors are a little high but nothing major.

Very happy with it

 

Wage bill up £6m (nearly 25%). Some of that seems to be on the non footballing side but it shows a significant shift - something I've been banging on about with all the contract renewals we were achieving.

Also spent nearly £7m of the £9m in transfer fees brought in on player acquisitions (the rest and then some will be subsidising the wage increases).

Yet you still have whoppers talking about penny pinching etc..

 

Then in next years accounts (for this current season) I'd imagine all three things you mentioned there will have increased again, the wage bill, the fees brought in and the money spent on acquisitions.

Only way to compete with these parachute payment clubs.

 

It is. But it also means recruitment needs to be lean. There will be a canny bit of that wage on players offering nish and or already moved on. Rusyn, Pembele and the likes. I get some work and some don't, but it highlights the risk.

 

Think this season has shown that the margin for error at a higher price point is much smaller. It's why I bang on about selling so much, it's much less likely that someone like Mepham (high wages) will be bad than someone like Burstow (low wages). Selling is good!

 

How long will it take that ****ing pseud Kieron Brady to manufacture something that’ll allow him to drone on about ambition again? I joke of course. He doesn’t understand the accounts.

 

https://www.safc.com/news/2025/march/10/sunderland-limited--2023-24-accounts/

"SAFC’s banking overdraft facility, which stood at £8.2 million on 31st July 2024, has subsequently been cleared by the Club after securing a working capital facility from an entity associated with the Louis-Dreyfus family"

https://x.com/SophieRB73/status/1899151694497300774?ref_src=twsrc^tfw|twcamp^tweetembed|twterm^1899151694497300774|twgr^bed63e0b2e9a943319db887265fb7002439643bd|twcon^s1_&ref_url=https://www.readytogo.net/smb/threads/safc-annual-accounts-out-now.1651258/page-2

 

I shall await Grumpy Old Man's report
With almost baited breath

 

He's at the match tomorrow, I'll see if he fancies a pint

We're looking in good fettle imo, a properly run club.

 

These look very good.

Will the Hummel deal be in there? Obviously the Jacky sale isn’t.

 

Few points from the accounts,

Cash was bad for the year, probably why there are rumours of a loan incoming

The balance sheet is completely propped up by a huge revaluation of the SoL. Not entirely sure what the triggering event in 2023/2024 that warrants a 70m quid increase in its value in last year is.

That move also you would suggest would make the loan more likely, given the increased collateral to borrow off

The rest of it is fine

 

Probably the nigh on 50x other clubs are having to spend to build a comparable stadium.

 

I think the full effect of the hummel deal will be shown in next year's accounts? Great to see the commercial side improving though and "only" an £8million loss.

Compare that to pretty much every other club in the championship and I'd say that's a massive success, especially to be sitting 4th with a young team full of prospects.

 

Aye after some digging doesn’t include Hummel or Fanatics deals.

On that basis, several million to add, plus the Jacky sale.

Brilliant work from League One to here.

 

It's not though.

 

I think this shows we are building nicely and doing things the right way.
Only question I have is the servicing of the overdraft ?
Wonder which associate is servicing that?
Is this the first time that adnoc has become involved? ( I personally don't think so but it is possible) or is it Blackrock getting involved.
I don't need to know but it could lead to more outside investment or advertising revenues.
I heard a long time ago that if KLD proved he could run Sunderland well then there would be significant funds made available by an associate of the KLD family, I thought this may be Adnoc or Blackrock although the person who told me did not go into any further detail, but has on occasion mentioned Adnoc as possible partners or sponsors but only when talking about other things.
Is this info the start of something or is it just a bit of buisness for the balance sheet.

 

I've no idea but,as you say,it shows a confidence in the way the club is being run.