Come on give it a rest ffs.....Never forget that Huw guided us through the leagues and he was the best thing since sliced bread and we had plenty of admirers from all over the world.....When monk took us to our highest ever league position and points total our owners said that is as far as we can go as we are a small club in a big pond and we will never have the money ever to be able to compete long term and they were right....The morgans and Huw had done their job and the morgans wanted to move on to other things which they were entitled to do......They did not sell to the first ones that were interested instead they spent over 6 months searching the globe for the right buyer and they liked what the Americans said about the long time future and even persuaded Huw to remain as chairman and shareholder.....Far too many fans expect a relatively small club to keep on competing at a high level with a small budget and to be fair we tried by giving in to the high earners and paid them stupid over the top wages and it was only a matter of time before we were in trouble........I'm really glad that we finally got relegated so we could regroup and start the transformation of getting these high earners of the books and put the club on a stable footing again.....These Americans know exactly what they are doing and Huw is a part of that....It will take time and it wont be easy but these yanks and Huw wont be going anywhere and are here for the long haul and we should be grateful to them instead of slagging them off......I dont care if we ever get back to the premiership again but if we do then we will have players who want to play for the swans at a fair wage and not mercenaries who just want the money....
Judging by your ignorant post you are the most clueless of the lot (Dai). Some fans are business people themselves or in my case Accountants. I've looked at the club's accounts from the last financial year and done the various ratio analysis and take it from someone that is independent in their thinking that the club does not require the cost saving measures that have been implemented this summer along with the net cash inflow from transfers. In terms of gearing the club is not financed by debt. The issue that supporters have is all the misleading crap that was spouted about the shysters taking the club to the next level in terms of investment. The squad has had zero investment in the last two years. This has coincided with the decline of the team on the pitch culminating in the relegation last season. The success you talk about from many years ago was based on the fact that HJ and the previous directors had very little to lose. As soon as millions were placed in front of them they took the money and run without any consideration as to who they were selling their shares to. All they are left with now is to squeeze every single last penny of profit from the parachute payments at any cost. - Hawkim02 Picked this comment up, from WalesOnline, Bracket inserted by me!........................ Just goes to show what Fraudsters the Boardroom are, check out the Bold........
Forgive me Phil, but I’m not sure about this ‘Accountant’ - there’s something in his ‘language’ that raises questions in my mind. Anyway, just a few observations from me: Income/Revenue from Ordinary Activities in the financial year ended 31 July 2017 was: Media income £109m Matchday income £7m Commercial income £7m Merchandising £3m Other £1m Total Income/Revenue £127m What could we reasonably forecast for the year ending 31 July 2019? Media income £53m Matchday income £6m Commercial income £5m Merchandising £2m Other £1m Total Income/Revenue £67m Therefore, a potential shortfall of £60m
Few observations from me, 2017 was a high point, 2018 will show PL revenue down to about £95 Million, didn’t we also have the Siggy sale, will that be in the 2018 accounts? Going by your figures which are realistic enough, the problem I have is your £60 Million shortfall is based on income/revenue of £127 Million, which was a high point, our average has been much lower, more or less around the £100 Million, Which would make the shortfall around the £40 Million. With the sales of transfers out totalling £45 Million, that gap in my view has already been plugged, but the more important issue is wages, which is currently down to £16 Million, and manageable, and once Bony is gone with Dyer and Routledge then the Player wage bill will be just £4 Million,. How much though is the boardroom costing us? None player wages are reportedly in the range of £47 Million at one point? Not seen any cuts there have we? Do you think the accounts are reasonable? My view is if Jenkins can invent boardroom minutes, what other fictitious stuff can he invent in the accounts? Since we have been in the PL, we have eaten up every last penny of the revenue, did it all go on player wages? The trouble is there is very little transparency from this lot........
One other thing, Phil, a profit from sale of assets (transfers) is a one-0ff thing. A drop in turnover could well be an annual thing. The big turnover jump was the big increase in TV monies. The drop in income will continue. The costs associated will continue, unless they are quickly cut. I agree with you on wages......but there is, presumably, some accounting policy which defines football-related and non-football wages. But your quick calculation shows that the non-football related stuff MUST include some player payments. Don't forget, if Directors receive wages, these must be declared (or that was the case and Taff can confirm one way or the other). On the 'Accountant' above, there is most discussion about debt/equity ratio....a key ratio for most companies that shows the stability. For Swansea, this will always be fairly tidy since the club cannot raise much debt (limited assets as collateral) and so the fairly low equity will not make for poor reading. But this person does not look at the cash situation (which year on year is worse) nor looked forward at the future cash earning capability....which will take a huge hit as shown above by Taff.
Agree completely with your comments here, and it seems to me that Taff is well qualified to spot any anomalies with the accounts, My career path took me into the Insurance Industry and tax and financial planning etc.........
