Finances released

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I noticed this.... So have we all got it wrong about the players wages being reduced with relegation from the premier league?

And while the club’s wage bill remained virtually static at £84.4million, the sharp rise in income meant the proportion of turnover devoted to paying its staff dropped from 77.6% to 66.8%.

Ellis Short

Ellis Short did not draw a salary from the club.
But the Texan billionaire has since agreed to write off the club’s debt in its entirety in order to clear the way for the takeover announced on Sunday by a consortium led by Stewart Donald. He had already written off £100million.
 
Forget that, this is covering our last season in the Prem.
 
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CBD saffy said:
Forget that, this is covering our last season in the Prem.
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Was just about to type that. It does show that the books were on the cusp of being balanced prior to relegation from the Premiership but in that decade I think overall you guys must have made some large losses - like most Premiership clubs I think. It's a worry.

Not for you guys though! Now Short paid off that debt there's hope that you may be one of the most financially healthy clubs around. Still need to wait until we get the exact details though I guess.
 
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What we see there is the season big Sam was our manager for the majority (16-17).

We’ll only see the true result of the premier league relegation this time next year under Moyes.

And similar for this current relegation, it’ll be two years from now for the Grayson/Coleman financials.

Regardless though, Short has written any debt off which is frankly amazing.
 
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Following relegation [HASHTAG]#SAFC[/HASHTAG] loss almost doubled from £10.2m to £19.9m, as revenue basically halved from £123.5m to £63.7m and profit on player sales fell £26.5m to £6.6m. Offset by once-offs: £8.2m profit on sale of Charlie Hurley Centre; no repeat of 16/17 £9.7m Alvarez payment.

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Although [HASHTAG]#SAFC[/HASHTAG] £20m loss was obviously not great, it was by no means the worst in the Championship with the promoted clubs “leading the way” (though adversely impacted by hefty promotion bonuses): [HASHTAG]#WWFC[/HASHTAG] £57m, [HASHTAG]#FFC[/HASHTAG] £45m & Cardiff City £39m. In fact, only 5 clubs reported profits.

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11:52 PM - 3 Jun 2019
 
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With the parachute payment falling from £42m to £34m in 2018/19, I estimate that [HASHTAG]#SAFC[/HASHTAG] had around £50m revenue in League One, which was 5 times as much as the next highest clubs: Rotherham United £10m, Blackburn Rovers £9m, Portsmouth £9m and Charlton Athletic £7m.

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My [HASHTAG]#SAFC[/HASHTAG] revenue estimate is: 18/19 £50m, 19/20 £30m, 20/21 £15m. Methven acknowledged, “We need to increase other revenues and keep costs coming down, so that we’re still sustainable once parachute payments are gone.” Happily, club says has already grown other revenue by £2.5m.

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<doh>

Many [HASHTAG]#SAFC[/HASHTAG] fans might be surprised to see they had the highest paid directors’ remuneration in the Championship of £2m. Most of this went to Martin Bain, who trousered £1.9m (including a £1.1m severance payment). That makes a total of £3.1m for overseeing 2 relegations in a row.

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3 replies9 retweets9 likes
 
RTB said:
<doh>

Many [HASHTAG]#SAFC[/HASHTAG] fans might be surprised to see they had the highest paid directors’ remuneration in the Championship of £2m. Most of this went to Martin Bain, who trousered £1.9m (including a £1.1m severance payment). That makes a total of £3.1m for overseeing 2 relegations in a row.

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I find it staggering that some people defend Bain and say he came across 'well' in the documentary. The man was pure slime.
 
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RTB said:
With the parachute payment falling from £42m to £34m in 2018/19, I estimate that [HASHTAG]#SAFC[/HASHTAG] had around £50m revenue in League One, which was 5 times as much as the next highest clubs: Rotherham United £10m, Blackburn Rovers £9m, Portsmouth £9m and Charlton Athletic £7m.

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My [HASHTAG]#SAFC[/HASHTAG] revenue estimate is: 18/19 £50m, 19/20 £30m, 20/21 £15m. Methven acknowledged, “We need to increase other revenues and keep costs coming down, so that we’re still sustainable once parachute payments are gone.” Happily, club says has already grown other revenue by £2.5m.

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This really does show that time is of the essence. The upcoming season still has Sunderland as having far more money than the other teams in League One (and hopefully with fewer drains on it now some of the old dead-weight has been shifted) but the drop off in parachute payments the following year and then in 2021 could have some pretty major repercussions. Realistically it is only a matter of time until promotion to the Championship but getting up to the Premiership is going to then be a big task, there will be other teams with more money to compete with. One step at a time I guess.

Overall nothing too terrifying there. It is what it is.
 
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Paperback Ruiter said:
I find it staggering that some people defend Bain and say he came across 'well' in the documentary. The man was pure slime.
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There are some dumb, blinkered people on here who have a go when the obvious is pointed out to them. They say that they call you out for pointing out the clubs failings :emoticon-0138-think
 
The Little General said:
There are some dumb, blinkered people on here who have a go when the obvious is pointed out to them. They say that they call you out for pointing out the clubs failings :emoticon-0138-think
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I was told about Bain as he was joining the club that he was a joke, and despised north of the border and not just at Rangers, who he helped to practically destroy. He turned out to be a joke alright, but who's laughing, not us.
 
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Bain might not have been the most likeable bloke in the world but his job was like being asked to go into a boxing match with both hands tied behind his back.
 
Jack TheLad said:
Bain might not have been the most likeable bloke in the world but his job was like being asked to go into a boxing match with both hands tied behind his back.
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No mate he was like a boxer going into a match he knew he'd lose but also knowing he'd pocket millions for the 'attempt' and he did it with a **** eating grin.

He wasn't brought here by false promises by Short he knew exactly what's his job was. A hatchet man.
 
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