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Villa losses trebled in accounts


Eastie
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http://www.birminghammail.co.uk/sport/football/football-news/aston-villa-losses-trebled-even-12662884
 

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Aston Villa's losses have more than trebled to a mammoth £81 million - before they were even relegated.

In a brief statement from the club, issued ahead of its full accounts for 2015/16 being released, Villa said their operating loss before interest and tax rose to £81.3 million, up from £26.6 million the previous year.

These latest accounts cover the 12 months to May 31, 2016, which was the season Villa were relegated from the Premier League.

During 2015/16, the club suffered losses of £79.6 million due to "exceptional items" but little explanation is given as to what these are, other than to say "for the impairment of tangible fixed assets and intangible assets".

More information on these is likely to be included in the full annual report which should be available via Companies House within the next few days and which will be reported in greater depth by the Birmingham Mail.

During the 2015/16 period, turnover fell year-on-year by £6.9 million to £108.8 million.

The club's statement said the drop in revenue could be attributed to a reduction in their share of revenue from the FA Premier League's broadcasting agreements as a result of the final league standings.

The club finished 17th in 2014/15 but fell to bottom of the table a year later, signalling their drop into the Championship.

These results include no impact from the takeover of the club by Tony Xia as this was completed on June 14, 2016.

 

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Hence why it was critical we go straight back up this season. And why Di Matteo was sacked after only 11 games.

If we don't go up next season we'll implode.

Unless Xia does some questionable Man City style sponsor deals that is.

 

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2 minutes ago, sne said:

Hence why it was critical we go straight back up this season. And why Di Matteo was sacked after only 11 games.

If we don't go up next season we'll implode.

Unless Xia does some questionable Man City style sponsor deals that is.

 

Promotion or bust next season in my opinion - we simply must go up .

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I'm confident that £79m will be money owed to Lerner, which would but us close to break even for 15/16 without it? However in reality, that money has accumulated through years of negligence. Just goes to highlight what a shambles of a club he ran. Hopeless idiot.

There has been so many comings and goings over the last 6-8 months that it would take a braver man than me to predict what state we are in now.

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2 minutes ago, dont_do_it_doug. said:

I'm confident that £79m will be money owed to Lerner, which would but us close to break even for 15/16 without it? However in reality, that money has accumulated through years of negligence. Just goes to highlight what a shambles of a club he ran. Hopeless idiot.

There has been so many comings and goings over the last 6-8 months that it would take a braver man than me to predict what state we are in now.

Does Lerner still stand to gain an extra £50m if we are promoted next season or was it just this season

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1 minute ago, Eastie said:

Does Lerner still stand to gain an extra £50m if we are promoted next season or was it just this season

I think it was 2 seasons, from memory. But I'm not sure that was ever confirmed. 

Also I doubt that would come from our books but from Recon's. Certainly, that would make sense from a tax perspective but then I'm basing that on British tax law and not Chinese tax law! I'm sure an accountant will be along soon enough to tell me how wrong I am. 

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16 minutes ago, Morley_crosses_to_Withe said:

The impairment of tangible assets usually refers to player registrations.

Another shit set of results and I don't expect next year's to be any prettier.

 

Fair few staff changes as well  in that period so quite a few pay offs I expect , sherwood, wilkins, parkes, garde, black and maybe even tom fox to name but a few .

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19 minutes ago, Morley_crosses_to_Withe said:

The impairment of tangible assets usually refers to player registrations.

Another shit set of results and I don't expect next year's to be any prettier.

 

Tony has deep pockets but these  losses cannot be good for ffp - we may need to cut our outlay soon .

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25 minutes ago, Eastie said:

Tony has deep pockets but these  losses cannot be good for ffp - we may need to cut our outlay soon .

Tony may have deep pockets.....But all business men are in it for the buzz of making money or some kind of success.

My worry is, constant losses both financial and footballing, will eventually drain his enthusiasm.

our recent performances have already seemed to curtail his twitter exploits, something I envisaged would happen, if we kept losing.

I just hope something turns for the better, pretty damn soon.

In the meantime.....I would be dissuaded from considering big money transfers and stick to trying find little gems from the lower leagues who are looking for their opportunity.....likely to get the right characters to fight our way out of this.

To date.....There has been very little evidence that the bigger money signings work for us.

Edited by TRO
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Buying the cream of the crap from the Championship was always going to be a transfer strategy that was financially terrible.

So far it hasn't worked out on the pitch either.

The numbers for this season will be horrible as well.

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24 minutes ago, Eastie said:

Pity we couldn't offer the huge wages based on promotion incentives and results - some players contribute sod all and earn a huge wage in the process .

I put that question to Ron Atkinson once.....He said "you wouldn't sign anybody"...."they simply wouldn't come"

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