http://www.leedsunited.com/news/20120330/financial-reports-for-2011_2247585_2705082 Turnover was near £33 million. First team and managerial staff wages at £11.6 million compared to £7.7 million for the previous year. It scares me that old ken may not have been lying to us. That said, £11.6 million is only 35% of a £33 million turnover. That's enough to more than compete with clubs that aren't on parachute payments and don't have sugar daddies, as they will have somewhat lower turnovers, but will be spending a higher percentage of that on wages. I guarantee many clubs on similar wage budgets with lower turnovers will still be operating in the black. Derby, Cardiff, Reading, clubs like that. If we went to the recommended 60% of turnover on wages, we'd be standing toe to toe on wage budgets with the parachute payment clubs and sugar daddy clubs. Granted, they'll have some players that inflate their wage budgets, but generally those players are earning far more than they are worth, and players of their quality will play for a lot less.
I will wait for LIW to look over the books before I pass judgement. There was so much hidden last time it was unreal Marko
Ye I heard, undisclosed admin costs and legal fees. the amount we're paying for property lease is disgusting, £1.8 million a season or something. Going to end up spending so much on that ****ing stadium. If anything developing it should really reduce the cost of the lease, as we paid for the owner to have a more valuable property.
Leicester are paying 16 odd million on wages. Not as big of a difference as you'd like to think. Although that's about 95% of turnover.
Anyone recall what the additional businesses of Leeds City Holdings Limited are? My only recollection is Yorkshire Radio. The pertinent figures attributable to "other businesses" appears to be: 2011 2010 Turnover £1,800,000 £87,000 Operating Profit (£430,000) (£469,000) Overall Profit (£516,000 ) (£555,000) So despite a healthy increase in turnover still making hefty losses. Nice to see an operating profit of £ 939,000 for the core business, presumably before a profit from player trading of £2,600,000. I eagerly await the full financial statements so we can look at the numbers the club has chosen not to highlight.
£16 million on wages is easily achievable for a club like Leeds. It's ****ing pathetic how little we compete in the wage market when you consider how we're the big fish in a little pond.
Got to remember this was the year up to June 2011. We were in the race for the play-offs for much of the season, and we had strong cup games and lots of tv. We had ot expect a hefty increase in turnover and profit. But the main profit came from player sales. The key figures will be next years. Season ticket holders fell by 20% last season, leading to a 20%-ish fall in average attendance. That will take down our gate receipts from £12.7m by 20% - down to £10m. And we have had no major cup run. Let's remove another £1m. Just from gate receipts, the turnover will be down by about £3.5m - wiping out all profit from this year, and taking out player sales, we will make a loss of at least £2.5m. Over and above that, expenditure by fans is down in the stadium and at the bars and on programmes on average, and there are less people. That's another £500k off the turnover. Plus the diverse businesses will continue to make losses, because we compete in very tight margin industries there, sponsorship is likely to be down, and our costs are higher because of the £5m loan for the East Stand (costing c£500k per year). Financially, this club is screwed. Last year's accounts are merely history against which we can confidently state we lost between £5m and £10m by June 2012. Expect the sale of Snoddy, McCormack and Lees in the summer, with no funding for Colin.
so basically, the sales of our best players to cover losses that the club shouldn't be making. Why are we paying for the losses Yorkshire Radio is making? How many years are we going to have to pay for a failing radio station?
Every penny we earn is invested into the team? Is it ****. One of the biggest wage budgets in the division? Is it ****. 35% of turnover spent on wages is good business? Is it ****. 5m spent on the East Stand is astute? Is it ****. Conclusion of this financial taster of the ****e about to be served to us in the accounts: Bates out.
The difference in the cup between this season and last isn't too much of a considerable difference from what i can see. Last season we got Lincoln (12,000 crowd), this season Bradford (17,000 crowd + on TV). Last season saw a 2nd round exit to Leicester at Elland Road (16,000 crowd), this season despite being away at Donny (8,000 crowd) we did progress to the 3rd round which saw us draw scum and get a 31000 crowd + TV. In the FA Cup we obviously missed out on a replay against Arsenal, but the Man U game offsets the majority of this. TV last season: Derby (h), Forest (a), Donny (a), Boro (a), Cardiff (h), Swans (a), Forest (h), Reading (h), Burnley (h) and QPR (a) + Arsenal (h+a) TV this season: Southampton (a), West Ham (a), Brighton (a), Donny (a), Cardiff (h), Burnley (a), Southampton (h), Boro (a) and Reading (a) + Bradford (h), scum (h) and Arsenal (a). So currently TV appearances have been the same, lets hope we are playing for something at home to Leicester as we may get another (i take it they will be choosing games once again on the final day). Obviously revenue on matchdays will be way down with the average attendance significantly down.
