Finance

[angieram]

Clowes Devevelopments' accounts have now been published. Here is Maguire's interpretation. 

 

[dcfcreece1601]

Is any of this positive or negative? 

[angieram]

I think positive, given we had transfer debts to pay off. 

I would have to look at the full accounts to form a proper view, but I can't be bothered to search for them. I am sure some will, though.

Edited January 20 by angieram

[Sparkle]

Hmm, losing money is losing money especially when you are paying the Bills 

[therealhantsram]

That 3.3m squad valuation would have included Knight at the time.

[Ian Buxton's Bat]

This just cements DC’s hero status for me.

Of course the first few months out of admin  won’t be representative of the rest of his tenure and as @angieramsays there may be Bielek money etc in that loss.

However when you see someone running a successful, mid-size, profitable property company lurching into a business like football where it’s so difficult to turn a profit…….all for the sake of us…..you have to doff your cap.

[QuitYourJibbaJivin]

8 minutes ago, therealhantsram said:

That 3.3m squad valuation would have included Knight at the time.

He also only had 4 team mates at the time 😂

[therealhantsram]

21 minutes ago, QuitYourJibbaJivin said:

He also only had 4 team mates at the time 😂

True. Didn't look at the date on the line item. 

So the interesting bit then becomes, all those free agents cost £1m in agent fees.

[angieram]

Here is a bit more detail from Richard Cusack.

 

[Stive Pesley]

I enjoyed the comment that Derby County are now a successful property business with an unprofitable sideline in football

[AutoWindscreens]

8 minutes ago, angieram said:

Here is a bit more detail from Richard Cusack.

 

That sets out the effective  price Clowes paid: 

£13.24m for the club

£19.28m other debts paid

(So, £32.5m cash)

And taking on a £22m debt on the stadium.

So, effectively, a £54.5m price. Do I have that right?

[duncanjwitham]

55 minutes ago, therealhantsram said:

That 3.3m squad valuation would have included Knight at the time.

Knight (and any other youth players that were in the books) would have been valued at £0, as we never paid anything to acquire him.  That £3.3m would have been almost entirely the remainder of Bielik’s value.

[ilkleyram]

Presumably Thomas Clowes is a relative of David. Is he a fan too? Has he been added to our board instead of Ian Dickinson? 

[Ghost of Clough]

1 hour ago, therealhantsram said:

That 3.3m squad valuation would have included Knight at the time.

 

5 minutes ago, duncanjwitham said:

Knight (and any other youth players that were in the books) would have been valued at £0, as we never paid anything to acquire him.  That £3.3m would have been almost entirely the remainder of Bielik’s value.

I was just about to post this. Nominal book values for Bird, Knight, Sibley and Duncan (due to agent, signing on fees, etc). I assume this doesn't include academy players as I think we kept around 8 from our U21s that summer.

[Malty]

1 hour ago, therealhantsram said:

That 3.3m squad valuation would have included Knight at the time.

This might be true but given that there is no “disposals” in the year it might suggest that knight didn’t have a carrying value in the accounts. Hard to be sure without the details but perhaps knight had a £nil carrying value.

[Malty]

16 minutes ago, duncanjwitham said:

Knight (and any other youth players that were in the books) would have been valued at £0, as we never paid anything to acquire him.  That £3.3m would have been almost entirely the remainder of Bielik’s value.

I’m not sure about this. Bielik is no longer on our books and there is no disposals. He could have been fully impaired during the year of course. But that would mean his valuation is less than the full year impairment, so a lot less than £3.3m. I am struggling to work out where the £3.3m has come from. The only players left seem to be Bird and Sibley. Both may have had a signing bonus which could have been capitalised. An alternative is that certain contracts were revalued during the acquisition and that didn’t include knight but did include Bird and Sibley.

We could do with a little more detail tbh.

 

[Elwood P Dowd]

1 hour ago, Sparkle said:

Hmm, losing money is losing money especially when you are paying the Bills 

You have to take a balanced view, DC did gain an asset worth £81million for a £1 but he also inherited some liabilities, it appears some of those liabilities have been discharged.

Sorting out the mess takes time.

Edited January 20 by Elwood P Dowd

[secretsquirrel]

It will take time and certainly not getting carried away with big fees and wages which im sure there will be plenty moaning about the clubs ambition.

[duncanjwitham]

5 minutes ago, Malty said:

I’m not sure about this. Bielik is no longer on our books and there is no disposals. He could have been fully impaired during the year of course. But that would mean his valuation is less than the full year impairment, so a lot less than £3.3m. I am struggling to work out where the £3.3m has come from. The only players left seem to be Bird and Sibley. Both may have had a signing bonus which could have been capitalised. An alternative is that certain contracts were revalued during the acquisition and that didn’t include knight but did include Bird and Sibley.

We could do with a little more detail tbh.

 

He was only on loan last year, the actual sale occurred in July 2023, which is well after the year-end date in these accounts.  So I assume that accounts for the lack of disposal. 

And I can't see what else it could have been anyway, of the only guys we've paid real money for in the last few years (Lawrence, Jozwiak and Bielik), he was the only one left when we were sold.

[R@M]

Does this imply that with the sale of Knight we might be close to breaking even this season/next accounting period? If that is the case then it is a phenomenal job by all at the club to be where we are in the table.