£17.5M profit last year.

[BushBlade]

We’ve secured some loans against future income reportedly to allow PA to buy the ground off McCabe. If it’s the parachute payments, does that mean all or a proportion of those are going straight out to service the debt?

If so, doesn’t this mean our huge competitive advantage (parachute payments) in the Championship could be gone already?

If doing plenty of heavy lifting I know, but is this why the rhetoric about working to a budget and bringing youth through is the name of the game?

I’m only speculating but because we’ve effectively circumvented the “traditional” approach of a new owner buying the club (incl. assets) off the other, how the above works is critical for our future. Unfortunately we’re a few sets of accounts away from knowing.

If this is correct, from last season, it’s unlikely to be all the parachute payments as some of it will have been paid from this season’s money.

• Figures for buying out McCabe included in these figures. Totalled £38M and covered via a mortgage.

 

[Brewster Cost £70 million]

If we are a promotion chasing team, we need to spend more than we make on transfers
We've got a squad that's barely championship level. If we sell our best and bring in cheaper (less good) players, we are accepting a future in the championship, or lower

And who bought these championship players,you guessed it wilder,that's why the Prince is saying we want every transfer to be a full club decision not just the managers,why should he have given wilder any more money when he wanted out and left us with more championship players

 

[Kev Gee]

I really don't understand all the posters defending the Prince so vigorously - he has not put any money in from his own pocket since the £1 he spent to buy the club - by owning the club, he has been able to use the profits from the club to buy assets, which he also now owns.

But as he had neither the ambition or financial clout to spend enough to make us relatively secure in the Prem, we are about to be relegated, with a squad of duds and aging players. The only person to have benefited from our two years in the premier league is PA

He will not be dipping into his personal fortune (I refer you to the court case - he hasn't got one) to spend money to get us back into prem.
He has already spent the parachute money.

You can flame me for this in a year if I am wrong - but I'm betting he will spend less on transfers than he brings in on sales and the players he brings in will not be high wage earners, and either young or barely Championship quality. Without a manager who can spin gold out of straw, we are more likely to go down than back up in 2022.

I'm guessing the L1 years were he was 50/50 in covering the day to day to day costs with KMC has slipped your memory?

 

[PokerBlade]

He wrote off a huge amount of borrowing and split the company into two. He took full ownership of the assets, the football club was split 50/50 with the Prince. He then got paid (£38m) for these assets. I don't know the figures but I bet the amount he put into the club was considerably more than £38m, although some of the loan he also supplied the club were at an interest rate that was maybe more than the banks would have offered! For all his faults, you cannot say he did not dip into his own back pocket.

That's fair, and I'm not staunchly in the anti-McCabe camp by any means. He was a mixed bag. I just found it a weird criticism to say that the club is now more valuable, now owns those assets, but that's a mark against the Prince. I don't know if the Prince's strategy will work out in the long run but I was always under the impression you ought to get cautious when an owner takes assets away from the club, not brings them back.

 

[PokerBlade]

We’ve secured some loans against future income reportedly to allow PA to buy the ground off McCabe. If it’s the parachute payments, does that mean all or a proportion of those are going straight out to service the debt?

If so, doesn’t this mean our huge competitive advantage (parachute payments) in the Championship could be gone already?

If doing plenty of heavy lifting I know, but is this why the rhetoric about working to a budget and bringing youth through is the name of the game?

I’m only speculating but because we’ve effectively circumvented the “traditional” approach of a new owner buying the club (incl. assets) off the other, how the above works is critical for our future. Unfortunately we’re a few sets of accounts away from knowing.

It's really down to the terms of the loans. As always, we all have debt, all that matters is our ability to service that debt now and in the future. I would really doubt that we've taken out a loan that needs to be paid back in the next year though. More likely it's a mortgage against the acquired properties that we'll pay off over years. But I'm bad with finances so someone can tell me I'm wrong.

 

[Davalon]

Prince is way too cool for local media interaction.

Biggs's Twitter is embarrassing imho

 

[Scarebus]

Full break down from Kieran Maguire

 

[Brick Wall]

Decent profit considering Covid but I’ll leave it to the experts to explain in superior detail. Obviously a lot of those gains will have continued this year, you would suspect and drop off a cliff next.

Key points.

• Only second profit in over a decade.
• Turnover £116.8M - up from £8.3 in the Championship, mainly due to broadcasting deals.
• Sponsorship up nearly 5 times. £2.9M to £14.8M
• Figures for buying out McCabe included in these figures. Totalled £38M and covered via a mortgage.

I would imagine that the Prince will now asset strip the club and do a runner.

 

[Flatulent_Bob]

I would imagine that the Prince will now asset strip the club and do a runner.

Does your imagination stretch to explaining how he would do that? He can’t get money out of it unless he sells it, so how does he do that if he’s stripped it?
It makes no sense, so I wouldn’t get yourself too worked up about it.

 

[Tom Bott]

Should be a lot lower next season if the reported relegation clauses are applied.

Exactly the same words were spoken when we were relegated under Neil Warnock.

'reported relegation clauses'

 

[Tom Bott]

There's a lot of mystique for me with the Prince: on the one hand you have the "United World" project; on the other the cancellation of a much needed minor capital investment at Shirecliffe (agreed in July for a January completion).

Just look at the talent and money churned out from the academy over the last 20 years. Che Adams, Harry Maguire, David Brookes, Aaron Ramsdale Etc.
But this has all dried up in the last few years.

£ 150 million, no wonder Wilder was livid, these players are already wedded to the club, there is little risk in bringing them through compared to going out into market and spending 10/30 million on each player and hoping they hit the ground running and fit into Sheffield United.