RamNut Posted April 6, 2019 Share Posted April 6, 2019 11 hours ago, David said: £30m wasn’t it? 11 hours ago, reveldevil said: I don't honestly know, for some reason I had £15m in my mind! Either way, it's not even in the same ballpark as the London Stadium, which is double the capacity in an area where land is worth far more. The historical cost is stated to be £20m in the accounts from a previous year. Maybe 15m plus a bit more when they filled the corner in. The stadium was valued at @£61m btw. Link to comment Share on other sites More sharing options...
Turnstile Posted April 6, 2019 Share Posted April 6, 2019 11 hours ago, B4ev6is said: Because he will become our number 1 keeper thats why I meant Carson.Roos could be no 1 goalkeeper but on less money than Carson! Link to comment Share on other sites More sharing options...
G STAR RAM Posted April 6, 2019 Share Posted April 6, 2019 Wow the numbers are truly eyewatering. Huge financial mismanagement but if the guy sanctioning it is prepared to stomach the losses then not really much of a problem! Link to comment Share on other sites More sharing options...
Inglorius Posted April 6, 2019 Share Posted April 6, 2019 5 minutes ago, G STAR RAM said: Wow the numbers are truly eyewatering. Huge financial mismanagement but if the guy sanctioning it is prepared to stomach the losses then not really much of a problem! What financial ruse is Morris going to find next though is the question if we don't get out of this division and the losses spiral more and more out of control. All this has done is provide us with a stay of execution from FFP which will catch up with us eventually if we carry on suffering the hideous losses we have incurred to get us into this situation in the first place. Link to comment Share on other sites More sharing options...
Gringo Posted April 6, 2019 Share Posted April 6, 2019 54 minutes ago, Inglorius said: What financial ruse is Morris going to find next though is the question if we don't get out of this division and the losses spiral more and more out of control. All this has done is provide us with a stay of execution from FFP which will catch up with us eventually if we carry on suffering the hideous losses we have incurred to get us into this situation in the first place. Are you Derek from Burton? Link to comment Share on other sites More sharing options...
Spanish Posted April 6, 2019 Share Posted April 6, 2019 56 minutes ago, Inglorius said: What financial ruse is Morris going to find next though is the question if we don't get out of this division and the losses spiral more and more out of control. All this has done is provide us with a stay of execution from FFP which will catch up with us eventually if we carry on suffering the hideous losses we have incurred to get us into this situation in the first place. I don’t tend to agree with that. I anticipate that this gives us the chance to stabilise. As long as we don’t squander multi millions on players that end up having no residual value then we should be ok PS wise. Still very reliant on Mel covering the excess expenditure. Link to comment Share on other sites More sharing options...
Inglorius Posted April 6, 2019 Share Posted April 6, 2019 6 minutes ago, Asheville Ram said: Are you Derek from Burton? No are you? Link to comment Share on other sites More sharing options...
AdamRam Posted April 6, 2019 Share Posted April 6, 2019 9 minutes ago, Asheville Ram said: Are you Derek from Burton? Instead of the personal insults it would be interesting to know your thought on the post ? Link to comment Share on other sites More sharing options...
G STAR RAM Posted April 6, 2019 Share Posted April 6, 2019 58 minutes ago, Inglorius said: What financial ruse is Morris going to find next though is the question if we don't get out of this division and the losses spiral more and more out of control. All this has done is provide us with a stay of execution from FFP which will catch up with us eventually if we carry on suffering the hideous losses we have incurred to get us into this situation in the first place. Well personally I think we've reached rock bottom in terms of finances. As @Ghost of Clough has pointed out, we probably wiped £10m off the wage bill this season with perhaps the same again to come at the end of this season. Season ticket price increases don't appear to have hit sales, if the 8% increase mentioned at the fans forum is to be believed. Not sure how the latest EFL television deal compares with previous but sure that would have been an increase. Would guess we've had more television appearances this year due to the FL effect and our cup runs. The ground rental will probably replace the previous depreciation charge. Link to comment Share on other sites More sharing options...
McRamFan Posted April 6, 2019 Share Posted April 6, 2019 Trick two, sell the academy, rename it Candy Crush Center of Excellence Link to comment Share on other sites More sharing options...
Inglorius Posted April 6, 2019 Share Posted April 6, 2019 22 minutes ago, McRamFan said: Trick two, sell the academy, rename it Candy Crush Center of Excellence You beat me to it. I was obviously waiting for some pedant to tell me why technically this would not be possible due to blah blah Link to comment Share on other sites More sharing options...
RamNut Posted April 6, 2019 Share Posted April 6, 2019 1 hour ago, G STAR RAM said: Well personally I think we've reached rock bottom in terms of finances. As @Ghost of Clough has pointed out, we probably wiped £10m off the wage bill this season with perhaps the same again to come at the end of this season. Eh? The wages went up this season to over £40m. Do you mean we are going to save £10m after this season but within this financial year? Link to comment Share on other sites More sharing options...
McRamFan Posted April 6, 2019 Share Posted April 6, 2019 14 minutes ago, Inglorius said: You beat me to it. I was obviously waiting for some pedant to tell me why technically this would not be possible due to blah blah Sigmund Freud stated that pedants are men who are unable to laugh at themselves. McRamFan states, Fork um. That should get them going. Link to comment Share on other sites More sharing options...
Ghost of Clough Posted April 6, 2019 Share Posted April 6, 2019 13 minutes ago, RamNut said: Eh? The wages went up this season to over £40m. Do you mean we are going to save £10m after this season but within this financial year? The wages haven’t gone up this season. They did however go up in the recently released accounts of last season compared with the previous season. Link to comment Share on other sites More sharing options...
Mucker1884 Posted April 8, 2019 Share Posted April 8, 2019 On 04/04/2019 at 09:20, David said: 24 minutes in, question asked about cup vouchers. Mel spoke first, then Stephen Pearce went on to talk about how tight it can be when you are up against the limit. “You can be within 100k of the actual limits which you know can change on the gate of the game or what we sell in terms of the concessions in the concourse” https://www.dcfc.co.uk/news/2019/03/watch-the-fans-forum-in-full So it was never claimed that was the figure, and it was also mentioned the club must submit their forecast for this season to the EFL this week. Despite posting the profit for 17/18, 18/19 we may be up against the limit still which he could have been referring to in the hypothetical scenario above. Sorry, Been away camping, so not had chance to respond... Yeah, point taken about the £100k comments, and of course, I take back (and apologise for) my comment re "lies". What gets me... and I'm certainly not the sort that "go looking for problems"... is that all the hints were of things being tight, and yet it appears this stadium purchase went through a fair while back, leaving us comfortably within the limits, and yet nothing was mentioned. Are the tight margins with this past 12 months/latest season in mind? Why was there no mention of this (what appears to me) brilliant piece of accountancy? They are happy to play the "honest and open card", then appear to play it cagey when it comes to public forums. I can fully appreciate the possible need for secrecy/privacy, but why still play on the tight margins. They could have said "Trust us. All is good, but we can't go into details at this present time." Or of course, they could not call a supporters forum, then there's no need to skirt the issue in public. They can't have it all ways! And they shouldn't be surprised if a few of us now feel "a little let down" (even though the stadium sale itself looks extremely clever from where I'm sitting!) Having said all that, this isn't my normal environment, and rarely take any interest in such topics (mainly due to my lack of understanding!) I soon get bored (and ergo, I haven't read the last few pages of this thread!) One thing I can confirm, is that I wasn't moaning when we were spending, so I won't moan now, with regards to them "Having to sell the stadium due to past/recent poor management"! We gave it a go, and it didn't quite pay off (or hasn't done so far!) :-) No complaints from me! Link to comment Share on other sites More sharing options...
Spanish Posted April 9, 2019 Share Posted April 9, 2019 On 04/04/2019 at 22:47, therealhantsram said: This chart is just broadly labeled "income" so I presume includes income from player sales. The other chart in David's post lists "Commercial Income" at 21m for Leeds vs 16m for Villa and 13m for Derby. So they're still way ahead of us, but 'only' by 8m not 13m. One report I read said Leeds brought catering back in house in 2017 boosting commercial revenue by 4m. Isn't Derby's provided by a separate company? I have read that this was an annual increase of £5.5m due to catering, merchandising and the Selby-Warrington boxing fight (whatever that is). Link to comment Share on other sites More sharing options...
cannable Posted April 9, 2019 Share Posted April 9, 2019 1 hour ago, Spanish said: I have read that this was an annual increase of £5.5m due to catering, merchandising and the Selby-Warrington boxing fight (whatever that is). I’ll have a boxing match with a polar bear at Pride Park if it raises funds Link to comment Share on other sites More sharing options...
richinspain Posted April 9, 2019 Share Posted April 9, 2019 22 minutes ago, cannable said: I’ll have a boxing match with a polar bear at Pride Park if it raises funds Funds for you or for the club? I'll pay to watch it if it's for the club ? Link to comment Share on other sites More sharing options...
Ramleicester Posted April 9, 2019 Share Posted April 9, 2019 This has given breathing room for the last FFP assessment that just happened which would have taken into account a forecast for 2018/19 financial year. Assuming the operating losses have been around £25m over the last year (based on Mels comments) that leaves us fairly tight on FFP but not in points deduction territory. But... That was the gamble for this season. Sell the biggest asset and spend it. It is now spent. Hence the next stage is new owners with the ability to invest through legitimate sponsorship which will appear as revenue (like the stadium sale). Or get promoted... What I am a little uncomfortable with is that the stadium has been sold and the cash spent so quickly on what can only be described as previous financial 'mis judgement' . There can't be much if any of that cash left for the future and now we have a rent liability forever and a club with vastly reduced assets. What will happen now is that the ground and surrounding area including the veladrome will be developed with the addition of retail and leisure projects and the overall value of the site will increase massively. DCFC will not benefit from that... Where was the due dilligence in this... where was the oversight. Nobody ever said Mel was not a smart businessman lol.... Link to comment Share on other sites More sharing options...
Ghost of Clough Posted April 9, 2019 Share Posted April 9, 2019 24 minutes ago, Ramleicester said: This has given breathing room for the last FFP assessment that just happened which would have taken into account a forecast for 2018/19 financial year. Assuming the operating losses have been around £25m over the last year (based on Mels comments) that leaves us fairly tight on FFP but not in points deduction territory. But... That was the gamble for this season. Sell the biggest asset and spend it. It is now spent. Hence the next stage is new owners with the ability to invest through legitimate sponsorship which will appear as revenue (like the stadium sale). Or get promoted... What I am a little uncomfortable with is that the stadium has been sold and the cash spent so quickly on what can only be described as previous financial 'mis judgement' . There can't be much if any of that cash left for the future and now we have a rent liability forever and a club with vastly reduced assets. What will happen now is that the ground and surrounding area including the veladrome will be developed with the addition of retail and leisure projects and the overall value of the site will increase massively. DCFC will not benefit from that... Where was the due dilligence in this... where was the oversight. Nobody ever said Mel was not a smart businessman lol.... How have we already spent the reported £39m in FFP terms? Given 16/17 was about £2m loss (£7.9 loss without FFP exclusions) and 17/18 about £20m profit (£14.6m profit without FFP exclusions), I’d find it hard to believe we’ve jumped up to £57m FFP losses for a single year. (I could be way off on FFP figures) The stadium was sold for FFP reasons - that is what we’re being told anyway. So, unless by “it is now spent” you actually mean it’s been spent on operating losses I’m not sure where you’re getting at Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.