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.