Swansea filed profits of £15.3m for their first Premier League season, but they're the exception that proves the rule.
They're also exceptional, in that they're 20% fan owned.
Allam out
- Thread starter SuitedandBooted
- Start date
Swansea filed profits of £15.3m for their first Premier League season, but they're the exception that proves the rule.
They're also exceptional, in that they're 20% fan owned.
NorthFerribyTiger
Well-Known Member
Wee they lumbered with £70+ million debts before they started though ? Looking at the figures so far our debt (dependant on January spending) could well exceed £90 million by the end of the season
Our debt is currently £66m and is AA reckons it will increase by another £11m in the current year, though that is based on not selling anyone, finishing 17th and buying a striker in January. If we finished mid table and flogged Cairney and possibly got a couple off the wage bill, we could make no additional losses this season.
Didn't Swansea sell a player to Man City though? That's instantly about £50m income. Would they have even have broke even if not for Sinclair?
Your last published accounts that I could find ( Year ending July 2011) showed a turnover of £27m & a net debt of £40m.
You're now guaranteed £60m in TV revenue alone this season, so based on current trading, I don't see how your net debt will be increasing now.
It'll show a rise in the 2012 accounts as they'll no doubt show another large loss, but their historic trading figures & don't reflect the current reality.
The accounts we've just filed show a loss of £66m, our wage bill has now almost doubled to £39m and we spent another £12m on transfers, we're still trading at a loss.
NorthFerribyTiger
Well-Known Member
Where does £60 million come from ?
In total from the PL last season, including TV & the prize money for winning Manchester United only received £61.4 million while QPR only received £39.6 million
The new tv deal the PL ha struck offers a minimum of £60m TV money. That can raise if you get picked to be on more times than the standard amount.
Click on the likes to see where they are coming from, there's more from Cairo than there is from Hull ffs.
This seasons lowest team gets more than Man United got last season, due to the new TV deal.
NorthFerribyTiger
Well-Known Member
I know many who feel that way(your point onbe) and that is utter madness. Agreed on your point 2. We need to build our income levels and not just rely on the TV wonga.
Yes, but that was due to the dire situation Swansea were in at the time. It will be interesting to see how long they keep it and will Hugh Jenkins want to but it back in the future. Good Luck to them though.
Joe Allen was sold to Liverpool for £20m-ish when Rogers went to Liverpool.
A finish of 12th - 10th brings in between £20-26m+ in prize money. That alone will ease the pain of the balance sheet.
A loss of £66m? You didn't turnover £66m
Your revenue for this season has just been increased by £60m overnight, so unless your cost base & expenditure has increased by more than that amount, you won't be currently trading at a loss.
The losses are cumulative, it's our total debt that's now £66m.
Other than the Huddlestone transfer, all our purchases were before the end of our financial year and before the Premier League money, hence the increases in debt in this years accounts.
The losses are ongoing and our owner expects another £11m shortfall in the current financial year.
I'm not sure why you're arguing the toss, this stuff is all in the public domain, having been announced by the club last week.
Your annual losses are not the same as your balance sheet debt.
The majority of the debt is owed to Allam, it's not got a fixed repayment date, so it's therefore a total irrelevance to your current trading figures.
The current financial year won't see the TV revenue drop into the accounts, as the bulk will be received in 2014.
Your looking to mis-inform people imo, I've come across your sort at my own club, you're trying to make out the picture is bleak as it suits your agenda.
I'm misinforming no-one, we owe our owner £66m, he says that will rise another £11m in the current financial year and he's not putting any more money in.
Those are the facts, as stated by our owner, I'm just repeating them, they're not an opinion.
