chappy Posted March 1, 2013 Share Posted March 1, 2013 click The struggle of Aston Villa's American owner, Randy Lerner, to manage the club's finances has been revealed, with the club announcing a loss of £17.7m in the year to 31 May 2012. That reduced by £36m the huge loss made in 2010-11, but Villa achieved it by cutting the wage bill and selling players. Villa's income fell in 2011-12 by £11.6m, 12.6%, to £80m, and average home crowds dropped by 3,500 to 33,873 as Villa slumped to 16th place in the Premier League under the unpopular management of Alex McLeish. In the summer of 2011, Villa sold players including Ashley Young to Manchester United for £17m and Stewart Downing to Liverpool for £20, making a profit on player trading of £27m. Overall staff costs, including players' wages, were reduced by £13.8m to £70m. Villa said Lerner had waived interest on loans to the club totalling £107m, costing him £20m. Robin Russell, Villa's chief financial officer, said the figures demonstrated the club's efforts to become financially sustainable: "Having appointed Paul Lambert as manager in June 2012, he is building a youthful, progressive first-team squad and we continue to offer our season ticket holders and supporters some of the cheapest ticket prices in the Premier League," Russell said. Income down 12.6% on previous year. Loss down by £36m on previous year. Lerner waives interest of £20m. Link to comment Share on other sites More sharing options...
TrentVilla Posted March 1, 2013 Moderator Share Posted March 1, 2013 "Progressive first-team" get ****. Oh perhaps he meant progressively worse? The income is dropping and will be worse in the next set of figures, attendances are falling and it would be hard to imagine how much further we can cut the wage bill. The club is in a total mess, if we go down we will be in real trouble. 1 Link to comment Share on other sites More sharing options...
Didiersix Posted March 1, 2013 Share Posted March 1, 2013 You don't really get the feeling anyone is really in control of what is going on do you? Link to comment Share on other sites More sharing options...
MagicMushroom Posted March 1, 2013 Share Posted March 1, 2013 (edited) Robin Russell can jump off a cliff with Lerner and the rest of half witted board. When are we fans going to let them know its time to sell up? Love how they try and paint a rosy picture of their ****-up. Faulkner and the other stooges are there on monday evening, so its time to give them some grief. Support the team but give Faulkner hell. Edited March 1, 2013 by MagicMushroom Link to comment Share on other sites More sharing options...
OutByEaster? Posted March 1, 2013 Moderator Share Posted March 1, 2013 Trent - if we go down the income figures will be worse - if we stay up they will be significantly improved - the difference between this years TV money and next years TV money is worth more than selling a season ticket for every single seat in Villa Park. Waiving interest of £20m is a great gesture - but worrying when it still leaves us with a £17.7m loss. Link to comment Share on other sites More sharing options...
CI Posted March 1, 2013 Share Posted March 1, 2013 Loans of £107m Interest of £20m waived Sorry that doesn't stack unless he was charging 20+% which we established the other day he wasn't Link to comment Share on other sites More sharing options...
OutByEaster? Posted March 1, 2013 Moderator Share Posted March 1, 2013 Maybe he's permanently waived interest on the loans. Link to comment Share on other sites More sharing options...
snowychap Posted March 1, 2013 Share Posted March 1, 2013 Staff costs of £70m? Seems a fair bit higher than some of the estimates floating around on VT. Link to comment Share on other sites More sharing options...
CI Posted March 1, 2013 Share Posted March 1, 2013 Well we have over 500 non playing staff. As for the waived interest of £20m, I think that's a permanent write off. Fair play to Lerner. Link to comment Share on other sites More sharing options...
markavfc40 Posted March 1, 2013 Share Posted March 1, 2013 Lerner doesn't deserve any praise for waiving interest on loans to the club. FFS it is his club, he chose to buy it why the **** should he be charging interest. Wasn't it previously reported in past years he had already taken millions out of the club in interest payments? As for this building a progressive team. What a load of bollocks. Building a team based on cheap signings, on relatively low wages and then crossing our fingers and hoping to survive would be a better description. Oh and to polish things off we have the some of the cheapest tickets in the Premier League spiel. Given the tripe we have been served up over the last 2 and half years or so they should be **** giving the tickets away and I say that as someone who has continued to have a season ticket and go to away games. The owner and board are nothing short of a joke and should be ashamed of what they have done, and continue to do, at this great club. 3 Link to comment Share on other sites More sharing options...
OutByEaster? Posted March 1, 2013 Moderator Share Posted March 1, 2013 Lerner doesn't deserve any praise for waiving interest on loans to the club. FFS it is his club, he chose to buy it why the **** should he be charging interest. Wasn't it previously reported in past years he had already taken millions out of the club in interest payments? He's given the club over £100m out of his own pocket and now he's lent us the same at what appears to be a rate of zero interest. He may spend his money like an idiot. He may be an idiot, but at least he spends his money on my football club - hopefully at some point he gets clever or lucky and we get something worth the price he's paying. 1 Link to comment Share on other sites More sharing options...
Ceemo Posted March 1, 2013 Share Posted March 1, 2013 I'm no financial expert but I quickly tried to work out what the cost of relegation would be simply from a income point of view. The new TV money in the Premier League next season would be for us around £60-70 million (depending on how many times you were on TV etc) whereas TV revenue in the Championship would only be about £5-10 million. (Football League deal from 09-12 was £264 million. New deal from next season has gone down 26% to £195 million. Compare this to the Premier League where the new TV deals will be around the region of £1.7 billion and you get the gist of it) The parachute payments would definitely help as you do receive £16 million (not sure if changed for next season), but still as purely a ball mark figure, that's 70 million - 10+16 = a loss of £44 million possible income. Just think now that we are making a loss of £20 million (which includes the sales of Young and Downing) where we are now and consider that extra loss of TV income alone (not to mention commercial and match day income which would also take a hit) and just imagine what position the club could be in if we did go down. Its a scary thought. Link to comment Share on other sites More sharing options...
P3te Posted March 1, 2013 Share Posted March 1, 2013 the fact that we're still making a loss is terrifying we're financially ****. big time. Link to comment Share on other sites More sharing options...
CI Posted March 1, 2013 Share Posted March 1, 2013 If we go down we will definitely sell Benteke Bent Weimann And a few more probably which could easily generate £30-40m + the increased parachute payment - say £25m so we won't suffer financially too much in year 1. On the field will be an issue though. Link to comment Share on other sites More sharing options...
markavfc40 Posted March 1, 2013 Share Posted March 1, 2013 (edited) Lerner doesn't deserve any praise for waiving interest on loans to the club. FFS it is his club, he chose to buy it why the **** should he be charging interest. Wasn't it previously reported in past years he had already taken millions out of the club in interest payments? He's given the club over £100m out of his own pocket and now he's lent us the same at what appears to be a rate of zero interest. He may spend his money like an idiot. He may be an idiot, but at least he spends his money on my football club - hopefully at some point he gets clever or lucky and we get something worth the price he's paying. He's given the club? its his **** club. Why should he be charging interest against something he owns. Your right though he has spent a fair few quid on the club he owns. Its just a shame that as you say he is an idiot and for all the money he has spent he has ultimately taken us backwards. Every single one of this great clubs fantastic supporters is suffering due to him being a **** clueless idiot who has no business sense. He inherited his money from daddy so perhaps for a time it was easy come easy go. I just hope for all our sakes like you say he gets lucky and we stay up. Edited March 1, 2013 by markavfc40 2 Link to comment Share on other sites More sharing options...
CI Posted March 1, 2013 Share Posted March 1, 2013 Don't blame Lerner, blame the short bespectacled pube headed northern Irishman Link to comment Share on other sites More sharing options...
Popular Post OutByEaster? Posted March 1, 2013 Moderator Popular Post Share Posted March 1, 2013 Lerner doesn't deserve any praise for waiving interest on loans to the club. FFS it is his club, he chose to buy it why the **** should he be charging interest. Wasn't it previously reported in past years he had already taken millions out of the club in interest payments? He's given the club over £100m out of his own pocket and now he's lent us the same at what appears to be a rate of zero interest. He may spend his money like an idiot. He may be an idiot, but at least he spends his money on my football club - hopefully at some point he gets clever or lucky and we get something worth the price he's paying. He's given the club? its his **** club. Why should he be charging interest against something he owns. Your right though he has spent a fair few quid on the club he owns. Its just a shame that as you say he is an idiot and for all the money he has spent he has ultimately taken us backwards. Every single one of this great clubs fantastic supporters is suffering due to him being a **** clueless idiot who has no business sense. He inherited his money from daddy so perhaps for a time it was easy come easy go. I just hope for all our sakes like you say he gets lucky and we stay up. He's given the club over £100m. On top of that, he's loaned the club over £100m and he's now waived the interest on those loans. For all that he doesn't seem to have a lot of sense in spending it, I think he deserves a little credit for the money he's spent on the club. And yes, it's his club, he bought it - he'll most likely never get what he paid for it back and he'll never see that £100m again. A fool he may be, but he's the best fool this club has ever had. Our last chairman was nobodies fool, he took £60m out of the club with him - that was my money and it was your money - this club is pissing money up the wall, but for the most part, it's Randy Lerner's money. He's paying for his own lessons, even if thus far he's not shown that he's learning much. 6 Link to comment Share on other sites More sharing options...
andyh Posted March 1, 2013 Share Posted March 1, 2013 What's this takeover rumour regarding a rich Canadian doing the facebook rounds ? Link to comment Share on other sites More sharing options...
CI Posted March 1, 2013 Share Posted March 1, 2013 What's this takeover rumour regarding a rich Canadian doing the facebook rounds ? Not heard ? Any more info Link to comment Share on other sites More sharing options...
andyh Posted March 1, 2013 Share Posted March 1, 2013 Only heard about a Facebook posting on a villa/blues banter page. It mentions David Thomson. Have only seen a link about it..nothing else. Link to comment Share on other sites More sharing options...
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