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Villa latest accounts


andykeenan
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@MatKendrick Aston Villa's latest accounts are set to confirm the club is in much better financial health when they are realised shortly

 

'Realised'???? Is this another keenan speelin mistake? Surely it should be 'released'?

 

Anyway - good news!!! Just hope we continue to be in the Prem to spend our new found wealth!

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Bloody hell, if I got my sporting kicks from waiting for financial results I'd support BAE systems and read the financial times.

It's almost like we forget we are FOOTBALL club sometimes.

I know it's a bit depressing, but it's a case of looking for a bit of context for why the football has been so disappointing and whether we're close enough to be able to afford another go at it over the next couple of years or longer.

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Bloody hell, if I got my sporting kicks from waiting for financial results I'd support BAE systems and read the financial times.

It's almost like we forget we are FOOTBALL club sometimes.

I know it's a bit depressing, but it's a case of looking for a bit of context for why the football has been so disappointing and whether we're close enough to be able to afford another go at it over the next couple of years or longer.

Oh, don't get me wrong, I fully understand why they are important and why we are interested in them.

But flippin' heck, wouldn't it be lovely if it wasn't such a major event.

It just shows how the game has changed that the release of the accounts could possibly be a bigger news item than a game of football that we are involved in this weekend.

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Hopefully the accounts show a healthy profit (in football terms), i.e. more than £1-2m. Also if the wage budget is finally in a stable situation, it's time for RL to put his money where his mouth is.

 

Looking forward to someone with a better understanding of finances to spell it out in layman's terms so we can fully understand the situation.

Edited by MessiWillSignForVilla
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Aston Villa have issued the following statement following the publication of their latest set of accounts, for the year ending May 31, 2013.

 

Aston Villa announces the waiving of £90.1m of loans from its parent company, vastly reducing the club’s debt load and accelerating the process towards long-term stability and

financial self-sufficiency. These loans were converted to equity in December 2013, further strengthening the Club’s capital base.

 

Turnover for the year ended May 31, 2013 was up £3.3m to £83.7m and operating expenses before exceptional items down £6.2m. The Club’s operating loss before exceptional items fell by £9.5m to £42.6m.

 

Robin Russell, chief financial officer, said: “The 2012-13 accounts effectively close a chapter on a period of heavy losses. As we near the end of the 2013-14 season, the Club is financially self-sufficient, compliant with both UEFA’s and the Premier League’s Financial Fair Play requirements and we look forward to a period of continued growth and progress on and off the pitch.”

 

Increase in turnover in 2012-13 was driven largely by improved on-pitch performance and a higher finish in the Barclays Premier League. Higher average league attendance and a semi-final place in the Capital One Cup also contributed.

 

Reduction in operating expenses was driven by rationalisation of the playing squad with amortisation of player’s registrations down £3.1 million and all other expenses down by the same amount.

 

Exceptional charges increased by £2.4million to £8.3 million and included the accelerated amortisation of certain players’ registrations and their employment costs. The accounts now more accurately reflect the value of the squad utilised by the manager.

 

As the squad was being rebuilt, there was no repeat of 2011-12’s record-breaking profit on disposal of player’s registrations (£0.3m loss in 2012-13 as opposed to £26.9m profit in 2011-12).

 

There was also no repeat of the one-off impact in 2011-12 of the waiver of accumulated interest of £20.3m by the owner on loans made to the Club. The group continues to benefit from this largesse to the tune of £6.1 million annually.

 

Although the operating loss fell by £9.5m, the combined effect of the above was to increase the loss after tax for the financial year by £34.1m to £51.8m. This was primarily due to non-recurrence of the high profit on player disposals in 2011-12 (£27.2 m) and waiver of interest (£20.3m).

 

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It's all out

Turnover for the year ended May 31, 2013 was up £3.3m to £83.7m and operating expenses before exceptional items down £6.2m. The Club’s operating loss before exceptional items fell by £9.5m to £42.6m

All here http://www.birminghammail.co.uk/sport/football/football-news/aston-villa-publish-latest-financial-6759801

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Maybe I was a bit optimistic hoping for a profit then  :mellow:

 

Maybe, but £90m that the club owed to Randy is no longer owed. In the long term that helps a great deal, whether it be with Randy selling the club or continuing and giving things another shot. 

 

Personally I think it points to a sale IMO. 

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