Sheffield United accounts 20/21 explained

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Sean Thornton said:
Some interesting comments on the clubs strategy going forward, clearly understands that and l’d guess discussed with the owner at some point. Skirted around some of his tweets about profits and whatever , but would bore most people watching so rightly stuck to more bullit points. The turnover in 2018 and 2019 was over £20m each year.

Re United World, after explaining why we needed loans to fund expenditure on players and overheads etc he then states money isn’t an issue over infrastructure spending. Even if we borrow it, it still has not be repaid out of possibly decreasing income. Or is the Prince going to fund everything himself until the next Messi, Foden and Lee Baxter come through?

Cant knock the show overall though and will have answered the majority of the questions most asked by fans.
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Seems he's quoting the same strap line given out by Bettis when asked why we haven't gone ahead with the Shirecliffe upgrade. Unless he knows of a secret pot of infrastructure money hidden away at United World as you say SUFC would have to meet the cost and we just don't have the money for that or it seems upgrading the Hotel at present.

What is concerning listening to DS is that as a Club we have lost our individual identity becoming immersed within the UW Hybrid structure paying for services such as scouting, recruitment, data and agents fees. Begs the question why are we running up the costs for a Head of Recruitment and team of 6 if we are using UW?

A token gesture Blades Leisure Board of 3 comprising of an overseas Lawyer a Finance man who is the CEO of UW and the Princes daughter suggests the focus is on UW and not primarily SUFC. That leaves Bettis and PH plate spinning back in Sheffield with dwindling resources.

Smith confirms that if we don't go up this season then we will have to sell off assets namely the players to keep afloat in a season where it will be the last of the parachute money coming in and an ongoing transfer fee debt managed by loans. Revenue will be reduced by £10 million and likely to be more with dwindling support for another season in the Championship. That means more money going to UW to pay for agents to flog off what they can whilst incurring increased loan interest costs.

Sustainability as far as SUFC is concerned appears to be sell off players to fund the Club relying on youngsters. Now where have we heard that before? The promised new partners and sponsors mentioned by the Prince the last time he put his head above the parapet just haven't happened and you do wonder if all his eggs are in SUFC 's promotion to the EPL basket.

Maybe they're writing a new plan to replace the October plan that replaced the plan before we appointed Slav which said we should have appointed PH in the first place. Where's Yusef G when you need some clarity on whats happening!
 
i thought that this podcast has explained things very well, accountancy can be a very tough cookie to get your head around it’s not the old ‘if Johnny has 5p and gives Susie 2p’ scenario we have in our personal lives plus the offsetting of player payments which are capital expenditure and for tax purposes divided into 4 years which works well for spreading tax and vat but personally after listening to accountants myself for 30 odd years the presentation for blades fans listening was extremely easy on the ear and without being patronising.
 
Old Programme seller said:
i thought that this podcast has explained things very well, accountancy can be a very tough cookie to get your head around it’s not the old ‘if Johnny has 5p and gives Susie 2p’ scenario we have in our personal lives plus the offsetting of player payments which are capital expenditure and for tax purposes divided into 4 years which works well for spreading tax and vat but personally after listening to accountants myself for 30 odd years the presentation for blades fans listening was extremely easy on the ear and without being patronising.
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Thank you for saying this. I will relay to Darren.
 
Old Programme seller said:
i thought that this podcast has explained things very well, accountancy can be a very tough cookie to get your head around it’s not the old ‘if Johnny has 5p and gives Susie 2p’ scenario we have in our personal lives plus the offsetting of player payments which are capital expenditure and for tax purposes divided into 4 years which works well for spreading tax and vat but personally after listening to accountants myself for 30 odd years the presentation for blades fans listening was extremely easy on the ear and without being patronising.
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Listening to accountants for 30 years? It's accrual world 😊
 
Tickhill Blade said:
Listening to accountants for 30 years? It's accrual world 😊
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It’s a bit like listening to a woman’s argument you tend to nod in the right areas and switch off a bit then they ask questions to catch you out and the coup d’grace is that they take money from you (sorry for the political incorrectness but that’s how it’s happened to me)
 
Old Programme seller said:
It’s a bit like listening to a woman’s argument you tend to nod in the right areas and switch off a bit then they ask questions to catch you out and the coup d’grace is that they take money from you (sorry for the political incorrectness but that’s how it’s happened to me)
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Are you sure you aren’t thinking about the Police and the Courts?
 
Balham Blade said:
"I was at a club that got relegated from the Premier League". Not referring to us by name. He can be a dick at times, can't he?
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I think he meant:

“"I was at a club that I got relegated from the Premier League!”

Harsh, but fair. Own the bad as well as the good, Chris!

Very nice vid, YorkBlade , all three of you have done a great service to the fans by releasing that.
 
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Blades way…….. getting it wrong when in the big league.
 
If we don’t go up this season, income will drop by 20 million, so will definitely have to reduce the wage bill by at least 20 million YOY
We currently have a big squad and a number of players out of contract so that will definitely help.
I would think Berge is the most saleable asset and he will go even at at a loss, just to help the wage bill and cash flow situation
 
PaulHalfway said:
If we don’t go up this season, income will drop by 20 million, so will definitely have to reduce the wage bill by at least 20 million YOY
We currently have a big squad and a number of players out of contract so that will definitely help.
I would think Berge is the most saleable asset and he will go even at at a loss, just to help the wage bill and cash flow situation
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Except the unknown is how much our wage had dropped this year, so it may not need 20 million next year.
 
Addison said:
Smith confirms that if we don't go up this season then we will have to sell off assets namely the players to keep afloat in a season where it will be the last of the parachute money coming in and an ongoing transfer fee debt managed by loans.
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It’s not the last year of parachute payments, there’s another one after that.
 

bladesmanluke said:
A point I keep seeing raised and you're not wrong, but we have almost as much squad surgery to do even if we don't go up. Without the prem money I worry we'll be going back in for Matty Spring, Keith Treacey and Jordan Stewart.

God I hope someone at the club somewhere has learnt some lessons from last time .
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Is Keith Treacy available?
 
Excellent insights in the video. A reasonable strategy in the prem to buy young players who we could develop and sell on as opposed to splurging the th money on wages for established players. Just very poorly executed by wilder and co leaving us with some chronic duds. Again brave move not to do a Norwich and sell off loads of players on relegation but expect by that retaining our quality we could do a Fulham. Can now understand the panic when it wasn’t working with Slav. A lot of the blame is with the underperforming players but the effect of wilder jumping ship and confidence destruction in the last prem season cant be overlooked. lets turn this into another mcburnie thread 😁😁⚔️⚔️
 


Not sure what this is all about, the tweet itself, or my scan read of the charge itself didn't give anything away. Seems an odd time to take out a loan considering the takeover, unless it's just an admin task, an extension or renewal
 
Westran said:


Not sure what this is all about, the tweet itself, or my scan read of the charge itself didn't give anything away. Seems an odd time to take out a loan considering the takeover, unless it's just an admin task, an extension or renewal
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I think we’re a financial f*cked and if we were a person we’d be credit card, mortgaged & loaned up to our eyeballs.

The sooner we can get someone in that’s financially capable of steadying the ship & taking us forward the better.

I actually wish The Prince had the wealth to do this because everything he’s done during his time owning 100% of us has been admirable (on the pitch at least)
 
Westran said:


Not sure what this is all about, the tweet itself, or my scan read of the charge itself didn't give anything away. Seems an odd time to take out a loan considering the takeover, unless it's just an admin task, an extension or renewal
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I had car finance with Close. Maybe they got the kit man a new transit van on PCP
 
Westran said:


Not sure what this is all about, the tweet itself, or my scan read of the charge itself didn't give anything away. Seems an odd time to take out a loan considering the takeover, unless it's just an admin task, an extension or renewal
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It's a lease of certain electrical equipment not a loan to the club or anything like it .
 
Westran said:


Not sure what this is all about, the tweet itself, or my scan read of the charge itself didn't give anything away. Seems an odd time to take out a loan considering the takeover, unless it's just an admin task, an extension or renewal
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242% profit increase, pre tax?! I've given that zero though, but, huh?!
 

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