NN6
Member
- Thread starter
- #31
'the established premiership club' seems to have gone a bit quiet....mmmm....what about the 'Europe in 5 years bit'!!??
right, the last set of accounts stated this 'the Blades Enterprise centre for the year generated £0.96m in turnover with profits of £0.4m. ' no comment on how all the costs including interest are allocated but the enterprise centre is making money.
However there are some other interesting 'facts' from those accounts and this to be honest is what worries me...... Football bank debt is under £3m. the rest of the debt is related to non football revenue generating activities including £11.8m in the hotel. this was financed by a £13.5m overdraft from HBOS.
so all you guys who are happy to see us investing in non football related activities will also be comforted to know that over 80% of the debt related to Sheffield United is down to the hotel. I suggest we all start visiting said hotel sharpish
to summarise Sheffield United is a property company with a small footballing subsidiary. so its not surprising how the company is being run...football is a 'side business' with the real action in the property arena. to be fair that property side of the business appears to have been making money and you might argue that without it the football side would be in worse straights. however be under no illusions business decisions going forward will be more 'property weighted' than 'football weighted'.
right, the last set of accounts stated this 'the Blades Enterprise centre for the year generated £0.96m in turnover with profits of £0.4m. ' no comment on how all the costs including interest are allocated but the enterprise centre is making money.
However there are some other interesting 'facts' from those accounts and this to be honest is what worries me...... Football bank debt is under £3m. the rest of the debt is related to non football revenue generating activities including £11.8m in the hotel. this was financed by a £13.5m overdraft from HBOS.
so all you guys who are happy to see us investing in non football related activities will also be comforted to know that over 80% of the debt related to Sheffield United is down to the hotel. I suggest we all start visiting said hotel sharpish
to summarise Sheffield United is a property company with a small footballing subsidiary. so its not surprising how the company is being run...football is a 'side business' with the real action in the property arena. to be fair that property side of the business appears to have been making money and you might argue that without it the football side would be in worse straights. however be under no illusions business decisions going forward will be more 'property weighted' than 'football weighted'.