Debt down,Profits up all this coinciding with the great season we're having in the. League. http://www1.skysports.com/football/...n-revenue-to-206m-in-latest-financial-results Happy days.
Positive news - bear in mind these accounts are for the period ending 31st March 2013 and a lot has happened since then - reducing the wage bill further, more big sponsorship deals and potentially CL revenue to come in ... The £50m loss could pose some problem re. FFP but I doubt it since the owners are very shrewd and bought the club on the premise that FFP would be enforced. The accounts look good in the sense that revenues are increasing, debt is decreasing, sustainable wage bill etc etc. Really positive signs on and off the pitch.
That debt was what H&G left, also the FFP rules are to prevent clubs taking advantage over rivals by buying players for amounts that leave the club in debt. We can hardly be accused of that.
Also, Champions League is absolutely crucial if we want to compete with the big boys. I believe Bayern won €50m for winning the CL - if we were to reach the quarter finals, we would earn around €25m. With the new BT deal, this is will increase significantly as the prize money is dictated by the TV deals in place.
We're the biggest club (financially) without CL. FSG have made a huge impact in such a short space of time. I think they've done a great job.
Club managing director Ian Ayre said: "These results demonstrate that the financial health of the club continues to make good progress as we continue our journey to transform the club on and off the pitch. "Over the past four or five years, revenue has been consistently increasing from around £170m in 2009 to over £200m today, and external debt has decreased significantly to less than £50m. "With a hugely supportive ownership group, we have taken a measured approach to bring back financial stability to this great club by ensuring it is properly structured on and off the pitch."
I agree. To be honest we've really landed on our feet with these guys. Proper businessmen that know what they're doing, and realise that by investing correctly will pay dividends in the end. Experience in the Sports arena is so obvious - a class act.
Couldn't agree more, I love FSG as our owners. Yet, somehow they still get dogs abuse from some quarters
Some good news If we sell Suarez in the summer we will be even better off. Which leads me to ask could we manage without a direct replacement for him?
Tobes on the Yoonited board saying its all smoke and mirrors and we're up to our eyeballs in so much debt we'll fail the FFP rules. the debt limit is 41m Euros according to Tobes and his own club are £46m debt.
I think we could stay top 4 without Suarez, given money for him to buy other stars. I would rather that not be the case though. We were top 4 material during Suarez's ban. (Doubt we would have been full season though) but for a while we were. I think selling Suarez would be a poor move. If Real offered us £150mill (as Fergie used that figure for what Real would have paid for Ronaldo)... OK... that sum of money we could buy a whole team of first class players. Would take silly money to be worth a sale. Even then take heed of Spurs. Silly money for Bale and they're still out of Champions League. Difference is, we're good even without Suarez now. Spurs were an upper mid table team without Bale.
Amazing that, as technically Chelsea still owe Abramovich over £500m and they haven't been censured. The £50m is a 'stadium debt', isn't it? Therefore it's a developmental thing that has nothing to do players' wages or transfer fees. Look, much as I like Tobes I constantly remind him of his performance on the old 606 during Oct 2010 and the H&G Admin crisis. He confidently assured us all that the High Court decision in favour of RBS would be overturned by a Dallas court, as they had jurisdiction over the case as Hicks was from Dallas! In fact, the Dallas court admonished Hicks' legal team for not telling them about the High Court of London's verdict before they applied for an injunction. Then he and LETTUCE said that Hicks would sue LFC (not RBS or the then NESV, mind) for £2bn in compensation... Salt and pinches spring to mind. Makes you wonder how Everton would have got on with the FFP had they qualified for the CL (still might?) considering the £20m-odd they still owe on the Bear Sterns loan. Anyway, I still think FSG are ****s for not standing up for Luis over the original Evra case.
