| Profitable football club 15:14 - Apr 26 with 6146 views | jasper_T |
Accounts confirmed.
https://www.swanseacity.com/news/swansea-city-confirm-latest-accounts-0
"Swansea City has reported a pre-tax profit of £2.7m for the financial year ending July 31, 2020"
"The club employed an average of 321 members of staff - including playing staff, backroom staff and part-time matchday staff - during the year at a cost of £40.2m. This compared to 359 staff members at a cost of £48.9m the previous year — a reduction in staff costs of £8.7m."
"The accounts include the sale of Oli McBurnie to Sheffield United, but not Joe Rodon to Tottenham Hotspur." [Post edited 26 Apr 2021 15:15]
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| Profitable football club on 16:58 - Apr 26 with 4492 views | ReslovenSwan1 |
The sporting shutdown started on 13 March 2020 and restarted without fans deep into the Summer. Some Covid losses will have occured in the July 2019 - July 2020 period. |  |
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| Profitable football club on 17:17 - Apr 26 with 4498 views | Dr_Winston |
Encouraging figures with a couple of caveats.
Without the sale of McBurnie in there we'd have been looking at an eight figure loss. There was still a hell of a lot of cash going out of the club in the period.
The next set of accounts will cover an entire season of no attendances. No walk up gate money, refunded season tickets, no additional matchday income. Plus a reduced parachute payment. The sale of Rodon will have plugged most gaps, but similar figures in twelve months time would be most welcome.
Still, a profit is better than a loss no matter how it comes about. Plenty of clubs haven't seen one of those in a long time. [Post edited 26 Apr 2021 17:37]
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| 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. |
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| Profitable football club on 17:47 - Apr 26 with 4447 views | Chief |
What about the Dan James sale? |  |
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| Profitable football club on 17:50 - Apr 26 with 4424 views | ReslovenSwan1 |
| Profitable football club on 17:17 - Apr 26 by Dr_Winston |
Encouraging figures with a couple of caveats.
Without the sale of McBurnie in there we'd have been looking at an eight figure loss. There was still a hell of a lot of cash going out of the club in the period.
The next set of accounts will cover an entire season of no attendances. No walk up gate money, refunded season tickets, no additional matchday income. Plus a reduced parachute payment. The sale of Rodon will have plugged most gaps, but similar figures in twelve months time would be most welcome.
Still, a profit is better than a loss no matter how it comes about. Plenty of clubs haven't seen one of those in a long time. [Post edited 26 Apr 2021 17:37]
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The £10m ? Convertible Loan Note from our US majority shareholders was used to plug the gap I suspect. Paid for the new pitch and stadium refurbisment. SCST loyalists like Chief will claim the money was a clever way of making some money out of the club and was not needed.
All part of a fake narrativve for those owners who have managed their affairs to avoid cash and avoid the responsibility of keeping the club going. [Post edited 26 Apr 2021 20:20]
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| Profitable football club on 18:00 - Apr 26 with 4438 views | jasper_T |
| Profitable football club on 17:47 - Apr 26 by Chief |
What about the Dan James sale? |
That was in the year before. | | | |
| Profitable football club on 18:07 - Apr 26 with 4431 views | jasper_T |
The £40m wage figure is pretty modest for the division based on previous years figures, easily top half spending but closer to the chasing pack than the "ambitious" and/or recently relegated. Decent starting point ahead of a parachute payment-less next season when you consider how large a chunk of that Ayew and loanees represent. | | | |
| Profitable football club on 18:14 - Apr 26 with 4396 views | ReslovenSwan1 |
| Profitable football club on 18:07 - Apr 26 by jasper_T |
The £40m wage figure is pretty modest for the division based on previous years figures, easily top half spending but closer to the chasing pack than the "ambitious" and/or recently relegated. Decent starting point ahead of a parachute payment-less next season when you consider how large a chunk of that Ayew and loanees represent. |
Swansea have kept their academy and that means they must play academy graduates. Cooper bigging up Cullen in his podcast. Benda , Brandon Cooper, Cullen, Cabango and Garrick will all have to feature next season in place of Woodman, Guehi, Naughton, Ayew and Hourahaine saving £8m in wages. [Post edited 26 Apr 2021 20:20]
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| Profitable football club on 19:09 - Apr 26 with 4357 views | Chief |
| Profitable football club on 17:50 - Apr 26 by ReslovenSwan1 |
The £10m ? Convertible Loan Note from our US majority shareholders was used to plug the gap I suspect. Paid for the new pitch and stadium refurbisment. SCST loyalists like Chief will claim the money was a clever way of making some money out of the club and was not needed.
All part of a fake narrativve for those owners who have managed their affairs to avoid cash and avoid the responsibility of keeping the club going. [Post edited 26 Apr 2021 20:20]
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We'll have to wait and see won't we.
Technically that £10mill IS currently debt. | |
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| Profitable football club on 19:13 - Apr 26 with 4350 views | KeithHaynes |
8.7 million saved by reducing the workforce by 38 ?
That doesn’t sound right ? Are they including players ? |  |
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| Profitable football club on 19:35 - Apr 26 with 4317 views | jack247 |
| Profitable football club on 18:14 - Apr 26 by ReslovenSwan1 |
Swansea have kept their academy and that means they must play academy graduates. Cooper bigging up Cullen in his podcast. Benda , Brandon Cooper, Cullen, Cabango and Garrick will all have to feature next season in place of Woodman, Guehi, Naughton, Ayew and Hourahaine saving £8m in wages. [Post edited 26 Apr 2021 20:20]
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We will still loan players from PL clubs. I doubt any of Woodman, Guehi or Hourihane will be here, but we won’t have to replace them all with academy graduates. | | | |
| Profitable football club on 19:38 - Apr 26 with 4308 views | jasper_T |
| Profitable football club on 19:13 - Apr 26 by KeithHaynes |
8.7 million saved by reducing the workforce by 38 ?
That doesn’t sound right ? Are they including players ? |
Well, yeah. We're not spending £40m on non-playing staff. | | | |
| Profitable football club on 19:39 - Apr 26 with 4306 views | Catullus |
| Profitable football club on 18:14 - Apr 26 by ReslovenSwan1 |
Swansea have kept their academy and that means they must play academy graduates. Cooper bigging up Cullen in his podcast. Benda , Brandon Cooper, Cullen, Cabango and Garrick will all have to feature next season in place of Woodman, Guehi, Naughton, Ayew and Hourahaine saving £8m in wages. [Post edited 26 Apr 2021 20:20]
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Well we'll miss Ayew and Guehi.
It must include players surely, otherwise the office staff were on a great crack!
The next set of accounts will be more interesting. How did we cope with the pandemic? Some clubs have really struggled and their debt will have gone up a lot. I wonder how many individuals have paid to watch every match?
If we have gotten through this pandemic and our accounts are even close to break even it'll be a massive success, to me at least. | |
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| Profitable football club on 19:56 - Apr 26 with 4273 views | onehunglow |
I like Wednesday,a real old proper club but Id be very worried right now.
God only knows what Steve will do.
It could herald a start for Hamer though | |
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| Profitable football club on 20:05 - Apr 26 with 4273 views | KeithHaynes |
| Profitable football club on 19:38 - Apr 26 by jasper_T |
Well, yeah. We're not spending £40m on non-playing staff. |
How many then ?
It isn’t obvious.
This post has been edited by an administrator | |
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| Profitable football club on 20:29 - Apr 26 with 4206 views | ReslovenSwan1 |
| Profitable football club on 20:05 - Apr 26 by KeithHaynes |
How many then ?
It isn’t obvious.
This post has been edited by an administrator |
These are average numbers so 100 expensive people footballers (each on an average £80k)
and adminstrators may have gone replaced by 61 new gardeners cleaners cooks and securty staff on £14k. | |
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| Profitable football club on 20:40 - Apr 26 with 4207 views | KeithHaynes |
| Profitable football club on 20:29 - Apr 26 by ReslovenSwan1 |
These are average numbers so 100 expensive people footballers (each on an average £80k)
and adminstrators may have gone replaced by 61 new gardeners cleaners cooks and securty staff on £14k. |
Looking at the quotes I’ll put it down to poor journalism and keep on putting a 😂 or a 👠or a 😉 to emphasise my point to others. It will help I’m sure. | |
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| Profitable football club on 20:46 - Apr 26 with 4193 views | Dr_Winston |
| Profitable football club on 19:13 - Apr 26 by KeithHaynes |
8.7 million saved by reducing the workforce by 38 ?
That doesn’t sound right ? Are they including players ? |
Definitely including players.
Baston left in Jan 2020, Montero left in the summer, Carroll left about the same time and both Routs and Naughton saw PL contracts expire. Baston probably about £2-3m of that on his own. | |
| 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. |
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| Profitable football club on 20:54 - Apr 26 with 4177 views | KeithHaynes |
| Profitable football club on 20:46 - Apr 26 by Dr_Winston |
Definitely including players.
Baston left in Jan 2020, Montero left in the summer, Carroll left about the same time and both Routs and Naughton saw PL contracts expire. Baston probably about £2-3m of that on his own. |
I’ll leave the obtuse quotes alone in future 😉 | |
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| Profitable football club on 20:56 - Apr 26 with 4173 views | Catullus |
| Profitable football club on 20:29 - Apr 26 by ReslovenSwan1 |
These are average numbers so 100 expensive people footballers (each on an average £80k)
and adminstrators may have gone replaced by 61 new gardeners cleaners cooks and securty staff on £14k. |
Have you been sniffing exhaust fumes? Or are you practising gobbledegook?
let me guess....on the other hand, nah. I'll watch the footy instead. | |
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| Profitable football club on 22:33 - Apr 26 with 4095 views | majorraglan |
Looking at the wages figure of £40.2m I am very surprised it’s was still so high, I think that’s serious cash and in probably in excess of what the parachute payment would have been. I know football clubs aren’t cheap, but I’d have though the wages bill would have been down a lot lower given it’s reported club’s like Reading are paying around £13m this season.
Forest had a turnover of £25m during their last financial reporting year and lost a lot of cash, if the Swans are going to be run on a sustainable footing then I’d expect to see some serious cuts in the ages bill going forward. | | | |
| Profitable football club on 23:29 - Apr 26 with 4056 views | NotLoyal |
| Profitable football club on 19:38 - Apr 26 by jasper_T |
Well, yeah. We're not spending £40m on non-playing staff. |
Oh dear. |  |
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| Profitable football club on 23:40 - Apr 26 with 4039 views | ReslovenSwan1 |
| Profitable football club on 20:56 - Apr 26 by Catullus |
Have you been sniffing exhaust fumes? Or are you practising gobbledegook?
let me guess....on the other hand, nah. I'll watch the footy instead. |
You missed the point completely. There was churn. It was not 39 people leaving it was a net loss of 39 people including highly pay players with agent fees attached presumably. Using phrase like 'net loss' confuses people. [Post edited 26 Apr 2021 23:44]
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| Profitable football club on 23:57 - Apr 26 with 4025 views | ReslovenSwan1 |
| Profitable football club on 22:33 - Apr 26 by majorraglan |
Looking at the wages figure of £40.2m I am very surprised it’s was still so high, I think that’s serious cash and in probably in excess of what the parachute payment would have been. I know football clubs aren’t cheap, but I’d have though the wages bill would have been down a lot lower given it’s reported club’s like Reading are paying around £13m this season.
Forest had a turnover of £25m during their last financial reporting year and lost a lot of cash, if the Swans are going to be run on a sustainable footing then I’d expect to see some serious cuts in the ages bill going forward. |
This is the period upto July 2020. so this season will have seen further rductions to around £30m perhaps. If you look at Forests players they have a lot of dead wood. A very deep ageing squad with poorly motivated players on big bucks.
Their team in the FA cup game including several big names was their second string. Freeman, Knockheart, Ameobi, Lolley, Bong, Lyle Taylor, Figueredo. They were given the run around by a youthful motivated team. | |
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| Profitable football club on 08:36 - Apr 27 with 3945 views | felixstowe_jack |
Any mention in the accounts of the clubs net debt? | |
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| Profitable football club on 08:40 - Apr 27 with 3943 views | Dr_Winston |
| Profitable football club on 22:33 - Apr 26 by majorraglan |
Looking at the wages figure of £40.2m I am very surprised it’s was still so high, I think that’s serious cash and in probably in excess of what the parachute payment would have been. I know football clubs aren’t cheap, but I’d have though the wages bill would have been down a lot lower given it’s reported club’s like Reading are paying around £13m this season.
Forest had a turnover of £25m during their last financial reporting year and lost a lot of cash, if the Swans are going to be run on a sustainable footing then I’d expect to see some serious cuts in the ages bill going forward. |
Still a lot of Premier League contracts on the books over the period. I'd expect that to have decreased significantly by the time the next set of accounts comes out. | |
| 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. |
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