UnitedBlade
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These are actually Scarborough Group’s recent accounts but it’s Blades mentions which are pertinent and there isn’t a section for “Weer’s Fooking Munneh Gone”.
https://s3-eu-west-1.amazonaws.com/...7bqHfCbxLeKKKAVZ/CGXmpO0t78gg+DH0OoYo3s670AU=
Scarborough have gone back into a Loss of £1.9M after making a small profit last year. This is largely due to them sustaining a loss of £3M on SUFC. I’m assuming Kev subsidises half our losses and the Prince the other half so it’s a loss of £6M in total. Scarborough reports to Feb 2017 whereas Blades Leisure report to May 2017 but I believe the £6M loss figure is probably fairly accurate.
“Suffice to say the profile and success of SUFC is balanced again alongside the financial losses incurred in investing to gain promotion still with the ultimate aim of getting the Blades back into the Premier League. As most readers will be aware players’ wages, transfer fees and agents’ commissions are forever escalating and thus like it or not, ambitious clubs still tend to be run on a benefactor model rather than the desired ultimate aim of self-sustainability.”
However, profit/loss isn’t the main measure of Scarborough’s year. They’ve sold 40% of their Leeds Thorpe Park company and paid off a load more debt so increasing Net Assets from £20M to £35M so the McCabe family are not on their uppers but growing very nicely. None of us can ever imagine such wealth but I think they’ve already signalled that they aren’t wealthy enough to chuck massive funds at United to gain promotion.
The other Blades mention is that the Cherry Street corner development should start in late 2017 for completion late 2018.
Without going into all the back story, I for one am grateful to McCabe and the Prince for the continued finance and finally getting the winning formula via Chris Wilder’s appointment.
Lights blue touch paper and walks away ………………………………….
https://s3-eu-west-1.amazonaws.com/...7bqHfCbxLeKKKAVZ/CGXmpO0t78gg+DH0OoYo3s670AU=
Scarborough have gone back into a Loss of £1.9M after making a small profit last year. This is largely due to them sustaining a loss of £3M on SUFC. I’m assuming Kev subsidises half our losses and the Prince the other half so it’s a loss of £6M in total. Scarborough reports to Feb 2017 whereas Blades Leisure report to May 2017 but I believe the £6M loss figure is probably fairly accurate.
“Suffice to say the profile and success of SUFC is balanced again alongside the financial losses incurred in investing to gain promotion still with the ultimate aim of getting the Blades back into the Premier League. As most readers will be aware players’ wages, transfer fees and agents’ commissions are forever escalating and thus like it or not, ambitious clubs still tend to be run on a benefactor model rather than the desired ultimate aim of self-sustainability.”
However, profit/loss isn’t the main measure of Scarborough’s year. They’ve sold 40% of their Leeds Thorpe Park company and paid off a load more debt so increasing Net Assets from £20M to £35M so the McCabe family are not on their uppers but growing very nicely. None of us can ever imagine such wealth but I think they’ve already signalled that they aren’t wealthy enough to chuck massive funds at United to gain promotion.
The other Blades mention is that the Cherry Street corner development should start in late 2017 for completion late 2018.
Without going into all the back story, I for one am grateful to McCabe and the Prince for the continued finance and finally getting the winning formula via Chris Wilder’s appointment.
Lights blue touch paper and walks away ………………………………….
