snowychap Posted March 1, 2014 Share Posted March 1, 2014 ...accountancy fantasy-land... There's a place no one ought to want to visit. 2 Link to comment Share on other sites More sharing options...
supernova26 Posted March 1, 2014 Share Posted March 1, 2014 (edited) The extra Sky money is about 20 million NOT 60 million. Approximately 60 million in total rising from 40 million. Edited March 1, 2014 by supernova26 Link to comment Share on other sites More sharing options...
heid3ster Posted March 1, 2014 Share Posted March 1, 2014 ...accountancy fantasy-land... There's a place no one ought to want to visit. They have the worst roller coaster. Link to comment Share on other sites More sharing options...
Pez1974 Posted March 1, 2014 Share Posted March 1, 2014 ...it is quite easy to see that perhaps £40m or even more could have been written off last year... As I posted above, the article says: Exceptional charges increased by £2.4million to £8.3 million and included the accelerated amortisation of certain players’ registrations and their employment costs. So, the most that could have been written off (with regards to 'bomb squad' w/off) is £8.3 million, surely? I'm also not sure about your idea of capitalizing the players' wages. That was my thought, Snowychap. The specific reference to accelerated amortisation is for £8.3m so is more likely to be for contracts that have been terminated early (e.g.does Ireland come into this category?) To a non-accountant, It sounds like sharp practice to accelerate the amortisation of contracts we still hold. The real problem here is we are floating up into accountancy fantasy-land, speculating increasingly freely about information no-one has actually seen. Don't think it's sharp practice. If a company has an asset it no longer uses, or plans to use, it should write it off as it is 'impaired'. Ah **** it, I'm off to the pub! When the accounts are filed, I see if I can be bothered to spend a quid to get a copy and will maybe add something if it is worthwhile. At least VT members will have something to cure insomnia! 1 Link to comment Share on other sites More sharing options...
VillaGoMarching Posted March 1, 2014 Share Posted March 1, 2014 Randy has waived £90m worth of loans, fair play and I tip my hat to him. I may not think he is doing a great job with our club but £90m is a serious amount of money to simply forget about. Biggest sign to me he's wishing to sell up. Why else nullify the loans he owed himself. Link to comment Share on other sites More sharing options...
Villain4Life Posted March 1, 2014 Share Posted March 1, 2014 With the debt to equity swap, Mr Lerner doesn't need to waiver his interest payment any longer. Hmmmm. Joy. Yeah, but obviously good for the club to be rid of that £20 mill (?) payment. That said, with a turnover of £83 mill and an operating loss of £43 mill, there are expenses of £126 mill in the club. On what exactly? Our player wages should be cut down to ... £70 mill, maybe even lower. So where does the rest of the money go? Will be interesting to see the details. Link to comment Share on other sites More sharing options...
Risso Posted March 5, 2014 Share Posted March 5, 2014 I've got the actual accounts printed off now, and they make pretty dire reading to be honest. I'll do a more detailed analaysis later, but here's some highlights (most of which have been reported anyway) Turnover up £3.5m to £84m Of which - gate receipts up £700K, TV money up £2.2m, Sponsorship up £500K, commercial no change, UEFA solidarity down £200K. (Whatever that is) Staff costs UP £2.3m to £72m Impairment of player registrations (ie write off of remaining player values) £6m. Other termination costs £2.2m. Overall loss £51m Interestingly, the PBSE note states that the value of this season's acquisitions has been £18.9m, which when added to £21.7m for last year gives £40.6m. Quite a bit higher than lots of people including Lambert would have you believe he spent. Link to comment Share on other sites More sharing options...
ArteSuave Posted March 5, 2014 Share Posted March 5, 2014 What is included in player acquisitions? Agents fees, transfer fees, signing on fees? Is there a breakdown or just a single figure? Link to comment Share on other sites More sharing options...
Dodgyknees Posted March 5, 2014 Share Posted March 5, 2014 (edited) I've got the actual accounts printed off now, and they make pretty dire reading to be honest. I'll do a more detailed analaysis later, but here's some highlights (most of which have been reported anyway) Turnover up £3.5m to £84m Of which - gate receipts up £700K, TV money up £2.2m, Sponsorship up £500K, commercial no change, UEFA solidarity down £200K. (Whatever that is) Staff costs UP £2.3m to £72m Impairment of player registrations (ie write off of remaining player values) £6m. Other termination costs £2.2m. Overall loss £51m Interestingly, the PBSE note states that the value of this season's acquisitions has been £18.9m, which when added to £21.7m for last year gives £40.6m. Quite a bit higher than lots of people including Lambert would have you believe he spent. A lot of people have been using 40m as the figure, and to be fair, to build a premier league squad on that is crazy. Edited March 5, 2014 by dodgyknees Link to comment Share on other sites More sharing options...
tarjei Posted March 5, 2014 Share Posted March 5, 2014 I've got the actual accounts printed off now, and they make pretty dire reading to be honest. I'll do a more detailed analaysis later, but here's some highlights (most of which have been reported anyway) Turnover up £3.5m to £84m Of which - gate receipts up £700K, TV money up £2.2m, Sponsorship up £500K, commercial no change, UEFA solidarity down £200K. (Whatever that is) Staff costs UP £2.3m to £72m Impairment of player registrations (ie write off of remaining player values) £6m. Other termination costs £2.2m. Overall loss £51m Interestingly, the PBSE note states that the value of this season's acquisitions has been £18.9m, which when added to £21.7m for last year gives £40.6m. Quite a bit higher than lots of people including Lambert would have you believe he spent. What makes up the expenses? With £84m turnover I'm stuggling to understand how the club can make a £51m loss. To me that reads as total expenses being £135m and that just can't be right, so I'm assuming that assest being written off is included in the loss. Link to comment Share on other sites More sharing options...
Kwan Posted March 5, 2014 Share Posted March 5, 2014 I thought we were all in agreement that he's had 20 to spend each summer? Link to comment Share on other sites More sharing options...
HeyAnty Posted March 5, 2014 Share Posted March 5, 2014 I've got the actual accounts printed off now, and they make pretty dire reading to be honest. I'll do a more detailed analaysis later, but here's some highlights (most of which have been reported anyway) Turnover up £3.5m to £84m Of which - gate receipts up £700K, TV money up £2.2m, Sponsorship up £500K, commercial no change, UEFA solidarity down £200K. (Whatever that is) Staff costs UP £2.3m to £72m Impairment of player registrations (ie write off of remaining player values) £6m. Other termination costs £2.2m. Overall loss £51m Interestingly, the PBSE note states that the value of this season's acquisitions has been £18.9m, which when added to £21.7m for last year gives £40.6m. Quite a bit higher than lots of people including Lambert would have you believe he spent. 40.6 mill to rebuild a premiership team, thats some going in fairness. To put it in perspective, it would buy you a Fellaini plus an extra arm. 2 Link to comment Share on other sites More sharing options...
Dodgyknees Posted March 5, 2014 Share Posted March 5, 2014 I've got the actual accounts printed off now, and they make pretty dire reading to be honest. I'll do a more detailed analaysis later, but here's some highlights (most of which have been reported anyway) Turnover up £3.5m to £84m Of which - gate receipts up £700K, TV money up £2.2m, Sponsorship up £500K, commercial no change, UEFA solidarity down £200K. (Whatever that is) Staff costs UP £2.3m to £72m Impairment of player registrations (ie write off of remaining player values) £6m. Other termination costs £2.2m. Overall loss £51m Interestingly, the PBSE note states that the value of this season's acquisitions has been £18.9m, which when added to £21.7m for last year gives £40.6m. Quite a bit higher than lots of people including Lambert would have you believe he spent. 40.6 mill to rebuild a premiership team, thats some going in fairness. To put it in perspective, it would buy you a Fellaini plus an extra arm. It is the amount you would usually spend on improving, not on building a complete squad. 1 Link to comment Share on other sites More sharing options...
Risso Posted March 5, 2014 Share Posted March 5, 2014 Lots of people have queried the amounts reported for player costs, eg Kovakazak. Lambert himself being the main one. 1 Link to comment Share on other sites More sharing options...
Risso Posted March 5, 2014 Share Posted March 5, 2014 Another point: Lerner has written off £90.1m of loan notes from the parent, or more accurately, converted them into equity. That still leaves £88m of loans that haven't been written off. Link to comment Share on other sites More sharing options...
dont_do_it_doug. Posted March 5, 2014 Share Posted March 5, 2014 I still don't quite understand how we've lost £51m again? Can somebody explain in plain English? Link to comment Share on other sites More sharing options...
Big_John_10 Posted March 5, 2014 Share Posted March 5, 2014 So are we in a position to really push on this summer or is it going to be a similar thing? I have to say to have such lows on the pitch and still lose money is a real concern and I guess is further evidence of how badly Lerner has run the club. Link to comment Share on other sites More sharing options...
snowychap Posted March 5, 2014 Share Posted March 5, 2014 Staff costs UP £2.3m to £72m Not quite the predictions/guesses we've had over the last year on here, is it? Link to comment Share on other sites More sharing options...
samjp26 Posted March 5, 2014 Share Posted March 5, 2014 Lots of people have queried the amounts reported for player costs, eg Kovakazak. Lambert himself being the main one. You may be more clued up than me, but am I right in thinking that the amounts for player costs in the income statement will include potential clauses/fees that haven't actually been paid in cash yet? Also, thanks or clearing up how much we have borrowed from the parent company (aka Lerner), so he has essentially wiped off half of the debt owed to him? I know he has converted it into equity but being as he is the only share holder it doesn't really make much difference does it. Link to comment Share on other sites More sharing options...
Stevo985 Posted March 5, 2014 VT Supporter Share Posted March 5, 2014 That staff costs figure is surprising. But it's for last season right? So who would be included that (probably) won't be included going forward? Link to comment Share on other sites More sharing options...
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