| Accounts are out 13:10 - Feb 7 with 22226 views | Dr_Winston |
Feel free to believe or not. FWIW it's broadly what I was expecting. James & McBurnie sales gave us some breathing space.
https://www.swanseacity.com/news/swansea-city-confirm-latest-accounts |  |
| Pain or damage don't end the world. Or despair, or f*cking beatings. The world ends when you're dead. Until then, you got more punishment in store. Stand it like a man... and give some back. |
| |  |
| Accounts are out on 14:25 - Feb 19 with 1800 views | NotLoyal |
What happens to this alleged profit ?
TBH it’s about as transparent as brick dust because there is no break down of expenditure and income. |  |
| |
| Accounts are out on 15:27 - Feb 19 with 1752 views | TimTtam |
Had a read of every page of the accounts. These were some of the key things I found:
- Incorrectly written that we finished 12th last season
- When taking into account the tax loss that can be taken advantage of in the future, we actually made a loss of 6M rather than 7M
- 'Investments' of 12.5M were created (term deposit)
- Cash at bank increased from 470k to 6.6M
- Equity down from 16.8M to 10.8M (6M was taken from P&L reserves & converted to cash, to cover the 6M loss)
- Lost 27 football employees & 22 commercial employees
- Directors' remuneration fell from 655k (1.3M for highest payed director) to 243k (375k)
- Loans/overdrafts fell from 15.3M to 9.2M
- Contingent liabilities of 2.5M was settled (regarding a sale of debt from player sales?)
- Future payments of 7.4M (maximum) could be due, but it's unlikely that all will be payable
- Signing on fees of 2.5M may be payable if certain players are still with us in the future
- Compensation for "key management personnel" was 737k
- Received "subsequent income" of 15M (portion of McBurnie money I'm guessing), which doesn't show in the accounts
The biggest takeaway for me is the 12.5M term deposit. Looking at the income statement, my best guess is that the extra cash is because of a decrease in net creditors due within 1 year of 51.8M down to 38.7M. |  |
| |
| Accounts are out on 18:37 - Feb 19 with 1608 views | QJumpingJack |
Which director got paid £1.3m? |  | | |
| Accounts are out on 18:43 - Feb 19 with 1602 views | leighton1318 |
Better reading than last year but a work in progress.
Killer stat. £70m turnover split as follows
- Media £51 m
- Match £7m
- Commercial £4.5m
Plus a bit of ‘other’
Opex is still £100m plus hence the operating loss. Both these numbers exclude player trading.
Match and commercial - less than £12m even with a bit of PL legacy - are the core revenue streams.
Media is dependent on what league you are in (plus parachutes). We’re a £10-15m club that became a £100 m club. Stability in the second tier needs what, a £30-35m budget with net player sales of £10m to top up the £15m (once parachutes are gone) of core match and commercial income plus whatever media ends up at.
I’m not sure what media income would be for a second tier club without parachutes? £10m?
If that’s your business model then you need the academy. IMO.
Separate point - we are cashed up from player sales but it won’t last for ever. | | | |
| Accounts are out on 20:46 - Feb 19 with 1512 views | Nortbankboy |
| Accounts are out on 18:43 - Feb 19 by leighton1318 |
Better reading than last year but a work in progress.
Killer stat. £70m turnover split as follows
- Media £51 m
- Match £7m
- Commercial £4.5m
Plus a bit of ‘other’
Opex is still £100m plus hence the operating loss. Both these numbers exclude player trading.
Match and commercial - less than £12m even with a bit of PL legacy - are the core revenue streams.
Media is dependent on what league you are in (plus parachutes). We’re a £10-15m club that became a £100 m club. Stability in the second tier needs what, a £30-35m budget with net player sales of £10m to top up the £15m (once parachutes are gone) of core match and commercial income plus whatever media ends up at.
I’m not sure what media income would be for a second tier club without parachutes? £10m?
If that’s your business model then you need the academy. IMO.
Separate point - we are cashed up from player sales but it won’t last for ever. |
How much money have the yanks stripped from the club?
Or was it made up by people? | | | |
| Accounts are out on 21:06 - Feb 19 with 1491 views | NeathJack |
| Accounts are out on 09:55 - Feb 19 by jasper_T |
|
That interest payable figure is, err, interesting.
It appears to have gone up considerably in a year where the loans dropped considerably.
Have the yanks lent money to the club at a high interest rate? |  | | |
| Accounts are out on 21:16 - Feb 19 with 1474 views | longlostjack |
| Accounts are out on 21:06 - Feb 19 by NeathJack |
That interest payable figure is, err, interesting.
It appears to have gone up considerably in a year where the loans dropped considerably.
Have the yanks lent money to the club at a high interest rate? |
Nah. Given that the facility is probably with one of their merchant banks they’d give us favourable terms surely? They do have the club’s best interests at heart don’t they? 🤔 [Post edited 19 Feb 2020 21:25]
|  |
| |
| Accounts are out on 21:55 - Feb 19 with 1435 views | jasper_T |
| Accounts are out on 21:06 - Feb 19 by NeathJack |
That interest payable figure is, err, interesting.
It appears to have gone up considerably in a year where the loans dropped considerably.
Have the yanks lent money to the club at a high interest rate? |
Short-term borrowing would have been higher in our first Championship season than in our last PL one, surely, even if the end of year outstanding loan debt is lower. The accounts look as good as they do due to a big sale in the final month of the accounts year, until that came in money was having to be paid for. | | | |
Login to get fewer ads
| Accounts are out on 23:52 - Feb 19 with 1388 views | swan65split |
I thought the Yanks lent us money...at the usual rate.......or was that a cowpat report? |  | | |
| |
By continuing to use the site, you agree to our use of cookies and to abide by our Terms and Conditions.
