I can promise we're not £37m in the black. Need to factor in outgoings as well which leaves us in the red as stated in the annual financial reports.
Marquinho
- Thread starter Shacksnutmeg
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I can promise we're not £37m in the black. Need to factor in outgoings as well which leaves us in the red as stated in the annual financial reports.
How much do we owe? I assume the stadium by now is paid off which must make that a valuable asset?
Owe who mate? I presume that the stadium is paid in full at this point. Bar ongoing purchases of not pink seats. The stadium itself wouldn't be a particularly valuable asset as no one bar us could put it to any use and would have to level it, the land upon which it's built is a different matter.
We were about £30 Million in debt only 6 months ago when the figures were released, and that didn't include purchases of Adam Johnson & Fletcher.
As its well documented, Ellis keeps us a float and is trying to reduce the debt, when we buy a player it comes out of his personal account not SAFC's.
Bent and Henderson money was re-invested in players, very poorly may I add.
As its well documented, Ellis keeps us a float and is trying to reduce the debt, when we buy a player it comes out of his personal account not SAFC's.
Bent and Henderson money was re-invested in players, very poorly may I add.
Every cheque comes from the account of SAFC. ES owns SAFC and therefore may be a guarantor but the money coming into the club from Safc property, Safc entertainment, advetising and sponsorship as well as TV money will wipe out £30m (if that's the figure) If Ellis has £2b. No idea if this is cash or assets, he could be paying off £30m with loose change.Or interest.
The mentality seems to be changing.The vast majority of the £30m has gone on backroom staff and signing on fee's for the free transfers which makes us think we haven't spent a lot but in reality it looks like The kitty is bare.(PDC comments last week on spending) A plan to make us (Margaret Byrne's words)self financing for future years is in place.
ES was a big player amongst premier league chairmen brining in the new rule that only net£4m of the new TV deal could be spent on wages. How the likes of Man C, Spurs, Liverpool etc. get around that is beyond me.But looks like Us and the Mags for that matter intend on sticking to it.
Very true, Just look at the Ricoh now Coventry have come out. Even worse the ground at Darlington.
When we reported £30M debt it was at that moment in time, we may well may positive now (hope so). I would hardly call £30M loose change! haha and Ellis wouldnt just transfer £30M into SAFC account to wipe out the debt, even for a Billionaire that is still a hell of a lot of money plus you dont know how well his other business are going.
One thing I do know that is we are reducing costs and we should have this debt gone in the coming months, if not already.
Is that tv rule figure correct? £4M covers hardly anything in terms of wages when you think Bardsley is on about £2M a year.
The £4m is an increase in wages. You can sell say 5 players and free up £10m in wages and bring players in with up to £14m in wages. Not 100% sure if it's this year but did say as part of the "new" TV deal. Assuming it is.
Wonder what ES is doing business wise? Know he owns the private club. is it Skibo? But no idea what else. very private.
....Just looked this thing up and its accounts for a 3 year period starting this year. Bit complicated looking at the rules but does go some way to think that many clubs will be starting to cutback a bit. However, bound to be a different rule for the lokes pf Man C, U, Chelsea etc.
Wonder what ES is doing business wise? Know he owns the private club. is it Skibo? But no idea what else. very private.
....Just looked this thing up and its accounts for a 3 year period starting this year. Bit complicated looking at the rules but does go some way to think that many clubs will be starting to cutback a bit. However, bound to be a different rule for the lokes pf Man C, U, Chelsea etc.