Accounts for last season (2024/25)

[Old Programme seller]

Osula going from Newcastle to another team for £30 million plus would save our bacon

 

[Wards]

It's very difficult to draw any conclusions until we know how much funding the owners are willing to bridge. Anyone claiming to, including that prick on Twitter, don't really have a clue. I suspect the only people that do are the consortium themselves and key club roles.

Anyone else is just making noise.

 

[blade too long]

Surprised we made a profit!

That won't be the case going forward

thats where Wilder shines,, sign good potential players and improve them in pre season
Selles could not do that , the fall off from beting bristol city 8-0 over 2 legs to the 1-4 home defeat is ,,,stark to say the least

we grow within our income , like weve always done

 

[Balham]

It's very difficult to draw any conclusions until we know how much funding the owners are willing to bridge. Anyone claiming to, including that prick on Twitter, don't really have a clue. I suspect the only people that do are the consortium themselves and key club roles.

Anyone else is just making noise.

This.

The financial status of the club rests on our ability to repay the £74.9m of loans due within a year. £11m of that was from the parent company so can almost certainly be removed as it'll probably be rolled into this year. Of the rest:

£24.0m is bank loans - these are secured against the parachute payments so will be fine
£13.4m is factored loans - these are fine, they'll be repaid when the income is received and that almost certainly relates to transfer income which we will receive
£17.4m is standard creditors including £13m of transfer fee instalments. We have £17.2m of trade debtors which nicely offsets this.
£6.9m is accrued and therefore almost certainly covered by day-to-day accounting
£2.2m is other creditors including HMRC which we will definitely need to pay (and probably already have)

The big problem is the £45m drop in income next year when the parachute payments end. I would imagine that we have factored this into the players' wages and they will see a reduction of ~20%, saving us ~£9m on the 2024/25 figures. I've said elsewhere that we also have some big earners out of contract which will save us another ~£5m. We therefore have a ~£30-35m gap to fill so expect to see Hamer (£10m fees/saved wages) and at least one of the academy graduates shifted out to fill it with the balance being subject to, ultimately, the owners' willingness to fund the deficit. If we're not in contention for the top 8 at Christmas there will probably be a fire sale.

 

[loyalblade95]

When you see it there in black and white...

View attachment 234075

If that's the total transfer fees rather whatever installments we've already paid on them, I'm shocked.

Feels like all of them combined would have cost more than that, especially since Tanganga was being priced at around £10m in January last year.

Plus whatever financial package we were paying Selles will surely have stopped once he got a new job as well, that's how it usually works.

 

[Tickhill Blade]

This.

The financial status of the club rests on our ability to repay the £74.9m of loans due within a year. £11m of that was from the parent company so can almost certainly be removed as it'll probably be rolled into this year. Of the rest:

£24.0m is bank loans - these are secured against the parachute payments so will be fine
£13.4m is factored loans - these are fine, they'll be repaid when the income is received and that almost certainly relates to transfer income which we will receive
£17.4m is standard creditors including £13m of transfer fee instalments. We have £17.2m of trade debtors which nicely offsets this.
£6.9m is accrued and therefore almost certainly covered by day-to-day accounting
£2.2m is other creditors including HMRC which we will definitely need to pay (and probably already have)

The big problem is the £45m drop in income next year when the parachute payments end. I would imagine that we have factored this into the players' wages and they will see a reduction of ~20%, saving us ~£9m on the 2024/25 figures. I've said elsewhere that we also have some big earners out of contract which will save us another ~£5m. We therefore have a ~£30-35m gap to fill so expect to see Hamer (£10m fees/saved wages) and at least one of the academy graduates shifted out to fill it with the balance being subject to, ultimately, the owners' willingness to fund the deficit. If we're not in contention for the top 8 at Christmas there will probably be a fire sale.

Good summary. Is it coincidence that the loan from the owners is roughly what we paid for Cannon when they first took over?


Isn't most of the trade debtors transfer income which we have already factored, so can't be offset with the creditors?

During the current year we have also taken a new charge over the physical assets (ground/training ground/hotel) which presumably is longer term financing and will assist with the financial hole. Unless they've spent it all on fees and wages for Tanganga/Mcguinness etc

 

[loyalblade95]

I suppose with Matos & Chong not being as expensive as first thought, then hopefully we can find somone willing to take them off our hands for around the same price we may have paid.

I'd be inclined to send Matos out on loan, given his age and see if he can develop into a player that might come back and benefit us, but if we sold him I wouldn't be too bothered.

As for Chong, as long as wages aren't an issue, surely he'd be the type of signing for a newly promoted club.

Not in the first team with us, couple of years of championship experience and decent at the level (when he performs).

 

[Tickhill Blade]

If that's the total transfer fees rather whatever installments we've already paid on them, I'm shocked.

Feels like all of them combined would have cost more than that, especially since Tanganga was being priced at around £10m in January last year.

Plus whatever financial package we were paying Selles will surely have stopped once he got a new job as well, that's how it usually works.

Selles payoff would be in this years accounts as he went in September. The 2024/25 accounts do have redundancy/Ex gratia of £1.8m included, presumably Wilder and backroom staff going in the summer?

 

[loyalblade95]

Selles payoff would be in this years accounts as he went in September. The 2024/25 accounts do have redundancy/Ex gratia of £1.8m included, presumably Wilder and backroom staff going in the summer?

Ah fair enough, and yeah that would make sense as CW and his staff were gone before the 30th June, the end of the 24/25 financial year in football.

Also, didn't the Anel and Moore sales happen post June 30th (not sure about Souza as I can't remember if he left before or after that) so wouldn't that mean that those sales are factored into this seasons accounts rather than last seasons accounts.

 

[Karaoke Blade]

25 years straight they've been predicting our financial demise. They've nearly gone bust twice in that time and are still in admin. If only they'd warned each other about what was happening at their own club instead of fantasising about what might happen at ours.

It's all they've got

 

[Balham]

Ah fair enough, and yeah that would make sense as CW and his staff were gone before the 30th June, the end of the 24/25 financial year in football.

Also, didn't the Anel and Moore sales happen post June 30th (not sure about Souza as I can't remember if he left before or after that) so wouldn't that mean that those sales are factored into this seasons accounts rather than last seasons accounts.

All this season's sales and purchases are post-balance sheet events as the transfer window opened on July 1st. Souza left for Wolfsburg on July 5th.

 

[Maidenhead]

We have also accrued some fines along the way which compared to player sales may sound small but it’s still £445k last season (yes I googled it) to me that’s like giving money away

And the main reason that I wasn't unhappy to Wilder go in the summer.

He was costing us a fortune with a team built in his own image and dragging our reputation through the mud at the same time.

Just a shame that the appointment of his successor was so royally fucked up.

 

[Old Programme seller]

My sinister mind says Selles may have been appointed so the data driven ‘team’ could get their players in

 

[pollster]

I would guess that the £19.1m breaks down as follows:
Tanganga £8m
McGuinness £4m
Zätterström £3m
Chong £2.5m
Matos £1.1m
Polendakov £0.5m

Figures that could only be posted - let alone paid - on
ALL FOOLS DAY
or
HALLOWEEN
The one good signing of course bombed out by the imbecile Wilder
presumably because HE alone wanted to play football PROPERLY
rather than copy the imbecility of Pepshit Cocoa the clown.

 

[pollster]

Figures that could only be posted - let alone paid - on
ALL FOOLS DAY
or
HALLOWEEN
The one good signing of course bombed out by the imbecile Wilder
presumably because HE alone wanted to play football PROPERLY
rather than copy the imbecility of Pepshit Cocoa the clown.

If you thought last years are bad
Look what's coming

https://sufc.co.uk/lander

 

[Nick Jansky]

Osula going from Newcastle to another team for £30 million plus would save our bacon

The sale of Forestieri to Newcastle a few years ago might also have literally saved the bacon.

 

[Champagneblade]

The sale of Forestieri to Newcastle a few years ago might also have literally saved the bacon.

Mad isn’t it? How easy this was to avoid.

Their fans always think they are bigger than they are, mired in historical misconceptions.

Even last year, recognise the challenges and don’t sign Ugbo for 3m and 4m in wages. Don’t sign Charles on big money and 250k. Could have staved off admin for a good while.

Forestieri to Fulham. No brainer.

 

[Yoonitedite]

Osula going from Newcastle to another team for £30 million plus would save our bacon

"Bacon"
Surely you mean Cutlass's

 

[CityInPeace]

Losses of up to £13M for 2022-23 season
Losses of up to £35M for 2023-24 season
Losses of up to £13M for 2024-25 season

Total of up to £61M over three seasons, I think.

Expenditure on academies, youth development, infrastructure, women's football, and community projects is fully exempt from the loss calculations.

Sheffield United will be aok to 2024-25 by a mile and probably significantly within to 2025-26.

Surely tightens to 2026-27 providing SCR doesn't replace it given..

*Parachute Year 2 to EFL cash is a £30m or more drop.
*£61m down to £39m for Upper Threshold to 3 years ending is not a small drop?
*The starting point saw a much smaller Pre Tax pre Allowables Profit in 2024-25 than 2023-24.
*That was despite a Player Sale Profit or a reasonable one in 2024-25.

Headroom shrinks. Not saying Breach but Headroom shrinks significantly year on year surely. Some heavy lifting done in Summer 2025 given Sales, plus some Amortisation and Wages down probably.

 

[Balham]

Sheffield United will be aok to 2024-25 by a mile and probably significantly within to 2025-26.

Surely tightens to 2026-27 providing SCR doesn't replace it given..

*Parachute Year 2 to EFL cash is a £30m or more drop.
*£61m down to £39m for Upper Threshold to 3 years ending is not a small drop?
*The starting point saw a much smaller Pre Tax pre Allowables Profit in 2024-25 than 2023-24.
*That was despite a Player Sale Profit or a reasonable one in 2024-25.

Headroom shrinks. Not saying Breach but Headroom shrinks significantly year on year surely. Some heavy lifting done in Summer 2025 given Sales, plus some Amortisation and Wages down probably.

Paradoxically, our amortisation in 2025/26 will almost certainly be higher than it was in 2024/25. Wages will be similar given the squad bloat.

We don't have much room for manoeuvre under the SCR rules. Selling Peck for >£15m will help; we need >£5m each for Hamer and Tanganga and £6m for Cannon (lol) to avoid SCR hits.

 

[CityInPeace]

Paradoxically, our amortisation in 2025/26 will almost certainly be higher than it was in 2024/25. Wages will be similar given the squad bloat.

We don't have much room for manoeuvre under the SCR rules. Selling Peck for >£15m will help; we need >£5m each for Hamer and Tanganga and £6m for Cannon (lol) to avoid SCR hits.

It's still unclear what the new Rules will be. It could be SCR could be PSR for one more year.

If it is the latter maintaining a £40m+ Wage Bill without decent sales feels unlikely IMO. I made a base assumption that amortisation down £5m year on year but you know your club better.

 

[Balham]

It's still unclear what the new Rules will be. It could be SCR could be PSR for one more year.

If it is the latter maintaining a £40m+ Wage Bill without decent sales feels unlikely IMO. I made a base assumption 5nat amortisation down £5m year on year but you know your club better.

I've posted at length about our finances elsewhere but roughly speaking and all else being equal we'll have a £12.5m amortisation bill next season. 60% of that is tied up in three players - Hamer (£11.5m over 4 years), Tanganga (£7.5m over 3 years) and Cannon (£10m over 4.5 years).

We've started trimming the wage bill already: three of our top 5 earners (Davies, Mee & Ings) are being released. That leaves Hamer, Tanganga, Cannon, McGuinness, Bamford and Riedewald as the highest earners (ie above £20k/week) and as noted above, I'd be surprised if two of Tanganga, Cannon and Hamer are here next season.

Final thought: the "pure profit" motivation will exist strongly when it comes to offers for our academy breakouts. I'd expect us to sell Peck and possibly Brooks and/or Seriki and/or (sadly) Oné too. Arblaster would have been high on the list but he's currently nowhere near where he needs to be physically.

We might also get a nice little sell-on for Osula this summer and he's probably also clocked up a couple of performance bonuses for us this season.

 

[Ray]

I've posted at length about our finances elsewhere but roughly speaking and all else being equal we'll have a £12.5m amortisation bill next season. 60% of that is tied up in three players - Hamer (£11.5m over 4 years), Tanganga (£7.5m over 3 years) and Cannon (£10m over 4.5 years).

We've started trimming the wage bill already: three of our top 5 earners (Davies, Mee & Ings) are being released. That leaves Hamer, Tanganga, Cannon, McGuinness, Bamford and Riedewald as the highest earners (ie above £20k/week) and as noted above, I'd be surprised if two of Tanganga, Cannon and Hamer are here next season.

Final thought: the "pure profit" motivation will exist strongly when it comes to offers for our academy breakouts. I'd expect us to sell Peck and possibly Brooks and/or Seriki and/or (sadly) Oné too. Arblaster would have been high on the list but he's currently nowhere near where he needs to be physically.

We might also get a nice little sell-on for Osula this summer and he's probably also clocked up a couple of performance bonuses for us this season.

What about payments owed to the former owner ? Sky saying the owners still owe him 50 Million ? When does that need paying ?

 

[MobileBlade]

What about payments owed to the former owner ? Sky saying the owners still owe him 50 Million ? When does that need paying ?

Its not the club that owes them, it's COH

 

[Ray]

That's what I meant by the owners. So that doesn't effect the club then ? Is Sky just scaremongering about PA being able to issue a winding up, order if he's not paid on time ? Seems a bit far fetched

 

[Bladesman]