| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... 15:29 - Apr 30 with 6609 views | theloneranger |
"Swansea City has published its accounts for the year ending July 31, 2023, reporting a pre-tax loss of £17.9m."
"Turnover increased by £1.8m from the previous year to a figure of £21.5m, including a significant £600,000 jump in commercial revenue."
https://www.swanseacity.com/news/swansea-city-confirm-latest-accounts-3 |  |
| Everyday above ground ... Is a good day! 😎 |
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| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 10:14 - May 2 with 1197 views | shaggyrogers |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 08:12 - May 2 by Whiterockin |
The accounts were up to July 31st 2023,Coleman was made chairman on 5th May 2023 and and according the club statement issued at the time "Coleman begins his responsibilities with immediate effect". So barring 5 days he was in charge of the club for 3 months of those accounts, 25% of the full financial year.
So the quote on the statement this week “These accounts represent the financial year prior to my appointment as chairman and much of the budget had already been set for the 2023-24 financial year before my arrival in Swansea in August 2023. " are not true, he was in fact chairman for 25% of that financial year.
That statement also says that much of the budget for the 2023-24 had been set, not all of it. So some of it was still to be finalised. Coleman as Chairman would have to sign off the budget if he is in charge, personally I think he is just a puppet. Saying he started in August is either an error or a poor attempt as passing the buck, he doesn't seem to want to take responsibility when things are not good. [Post edited 2 May 8:21]
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Your first para:
The wage bill was £20 mill and all would have been contracted before he came in on 5th of May - nothing he could do about that nor was it his fault.
So you could tenuously blame him for the rest of the costs, well actually only 25% of them which amounts to about £4.5 million but even then i doubt he could have done much between May and the end of July to mitigate them.
I have zilch confidence in his ability to financially run the ship. I see nothing in his background that would make me think otherwise. Raising finance for people to build hotels is not the same as running a £20 mill business with 100's of staff *. Chuck in the fact it is a football business and he will be closer to financial Armageddon than breakeven.
Let's see what his first full year brings but i don't think it will be good
* the caveat to that is he has brought over a ' chief of staff ' ..... God help us ! |  | | |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 18:10 - May 2 with 1077 views | max936 |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 10:14 - May 2 by shaggyrogers |
Your first para:
The wage bill was £20 mill and all would have been contracted before he came in on 5th of May - nothing he could do about that nor was it his fault.
So you could tenuously blame him for the rest of the costs, well actually only 25% of them which amounts to about £4.5 million but even then i doubt he could have done much between May and the end of July to mitigate them.
I have zilch confidence in his ability to financially run the ship. I see nothing in his background that would make me think otherwise. Raising finance for people to build hotels is not the same as running a £20 mill business with 100's of staff *. Chuck in the fact it is a football business and he will be closer to financial Armageddon than breakeven.
Let's see what his first full year brings but i don't think it will be good
* the caveat to that is he has brought over a ' chief of staff ' ..... God help us ! |
Its still a mystery as to what "his chief of staff actually does" and has he actually achieved anything so far, then again perhaps he's still in training and bedding in. |  |
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| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 22:02 - May 2 with 1018 views | ReslovenSwan1 |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 10:14 - May 2 by shaggyrogers |
Your first para:
The wage bill was £20 mill and all would have been contracted before he came in on 5th of May - nothing he could do about that nor was it his fault.
So you could tenuously blame him for the rest of the costs, well actually only 25% of them which amounts to about £4.5 million but even then i doubt he could have done much between May and the end of July to mitigate them.
I have zilch confidence in his ability to financially run the ship. I see nothing in his background that would make me think otherwise. Raising finance for people to build hotels is not the same as running a £20 mill business with 100's of staff *. Chuck in the fact it is a football business and he will be closer to financial Armageddon than breakeven.
Let's see what his first full year brings but i don't think it will be good
* the caveat to that is he has brought over a ' chief of staff ' ..... God help us ! |
Steve Kaplan has confidence in him and he is a giant of the USA financial world being a founder member of Oaktree Capital for $7.5 billion. Not peanuts. If his holding was 10% he would have got a cheque $750m. Swansea with a $25m turnover is small beer.
The club increased revenue from somewhere by £1.5m which is progress. TV probably.
More functions at the stadium sell more merchandise in Wales and overseas job cuts. Rejuvenating the team with hungry lions. The like of Abdullai, Lissah, Wilson and Parker must play.
Swansea missed a trick with Ki and the South Korean link I felt. They were due to do a tour but cancelled ita decade ago. |  |
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| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 22:20 - May 2 with 1001 views | Plankton |
We should get used to bobbing around the middle lower reaches of this league for some time to come.
The best chance we had to go back up was as soon as we came down but that was scuppered when we sold all our best players.
Oprah Winfrey and her buddies are long gone and our current owners, whilst putting some money in are never going to put the kind of money in which would see us seriously challenge.
Get used to where we are. | | | |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 22:35 - May 2 with 987 views | union_jack |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 22:20 - May 2 by Plankton |
We should get used to bobbing around the middle lower reaches of this league for some time to come.
The best chance we had to go back up was as soon as we came down but that was scuppered when we sold all our best players.
Oprah Winfrey and her buddies are long gone and our current owners, whilst putting some money in are never going to put the kind of money in which would see us seriously challenge.
Get used to where we are. |
If only we could guarantee that. I’m seeing more gloomy days ahead unfortunately. |  |
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| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 23:02 - May 2 with 967 views | max936 |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 22:20 - May 2 by Plankton |
We should get used to bobbing around the middle lower reaches of this league for some time to come.
The best chance we had to go back up was as soon as we came down but that was scuppered when we sold all our best players.
Oprah Winfrey and her buddies are long gone and our current owners, whilst putting some money in are never going to put the kind of money in which would see us seriously challenge.
Get used to where we are. |
I've said it many times before we are where we're should be for a club our size and our geographical position, we may have the odd flirtation with the playoffs if we're lucky, but its going to be very had to reach higher IMO.
Clubs coming down from Premiership are now stronger than they've ever been, the parachute money enables them to mostly keep the spine of their squad, like at the Premiership these days, its a billionaires play ground, no longer is it just about the top 6
Citeh are still out there, then there's Arsenal, Man U, Liverpool, but Liverpool can't really compete with the first 3 financially, then there's Villa, Chelsea, Newcastle Spurs will get their act together soon and other's will soon join them. [Post edited 2 May 23:04]
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| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 23:11 - May 2 with 960 views | max936 |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 22:35 - May 2 by union_jack |
If only we could guarantee that. I’m seeing more gloomy days ahead unfortunately. |
It wouldn't surprise me at all if the quality of the squad keeps dropping. | |
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| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 10:07 - May 3 with 885 views | union_jack |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 23:11 - May 2 by max936 |
It wouldn't surprise me at all if the quality of the squad keeps dropping. |
It’s sad Max. Where did it all go wrong? | |
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| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 11:48 - May 3 with 831 views | bennytheblue |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 22:35 - May 2 by union_jack |
If only we could guarantee that. I’m seeing more gloomy days ahead unfortunately. |
Why? Just need a decent manager. Think like Roberto back in the day, how much did he spend to get the ball rolling? Or Brendan? I get you might have to spend a bit more nowadays but it’s still do able like Ipswich have just done. Unfortunately you need decent owners, neither clubs have this |  | | |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 12:48 - May 3 with 807 views | Plankton |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 11:48 - May 3 by bennytheblue |
Why? Just need a decent manager. Think like Roberto back in the day, how much did he spend to get the ball rolling? Or Brendan? I get you might have to spend a bit more nowadays but it’s still do able like Ipswich have just done. Unfortunately you need decent owners, neither clubs have this |
That's our only chance, to get lucky with a genius manager who gets the best from average players. | | | |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 14:18 - May 3 with 758 views | KeithHaynes |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 12:48 - May 3 by Plankton |
That's our only chance, to get lucky with a genius manager who gets the best from average players. |
Luke seems to have some of that ability. |  |
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| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 14:54 - May 3 with 728 views | Whiterockin |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 14:18 - May 3 by KeithHaynes |
Luke seems to have some of that ability. |
He seems to have grown into the job. Let's see how he goes after the next window with what should be his team. |  | | |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 17:24 - May 3 with 695 views | max936 |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 14:54 - May 3 by Whiterockin |
He seems to have grown into the job. Let's see how he goes after the next window with what should be his team. |
Its going to be interesting to see Whitey, but I don't know where the money is going to come from to get in the players Williams may want, even if he is realistic in his choices. | |
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| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 19:58 - May 3 with 662 views | Dr_Winston |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 23:11 - May 2 by max936 |
It wouldn't surprise me at all if the quality of the squad keeps dropping. |
I'm not really on board with the idea that the quality of the squad has dropped in general.
For sure this season recruitment has been "confused". We decided to move in a different direction and recruited a manager to do so, spending money to sign players to suit him. That manager failed, and we've snapped back almost 180 degrees to a different manager who doesn't want to use said players, rightly or wrongly.
Otherwise the squad has been at least of a standard needed to be competitive by Championship standards. Surely we must be past the point by now where anyone thinks that last season's squad couldn't have been capable of at least challenging for the playoffs, even if the manager obviously wasn't.
In the six seasons since we dropped to this level, for at least four of them we had a squad that could have finished in the top six. Cooper managed it. Martin failed miserably. The Potter year probably saw too much transition for a serious attempt. |  |
| 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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| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 20:03 - May 3 with 659 views | KeithHaynes |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 19:58 - May 3 by Dr_Winston |
I'm not really on board with the idea that the quality of the squad has dropped in general.
For sure this season recruitment has been "confused". We decided to move in a different direction and recruited a manager to do so, spending money to sign players to suit him. That manager failed, and we've snapped back almost 180 degrees to a different manager who doesn't want to use said players, rightly or wrongly.
Otherwise the squad has been at least of a standard needed to be competitive by Championship standards. Surely we must be past the point by now where anyone thinks that last season's squad couldn't have been capable of at least challenging for the playoffs, even if the manager obviously wasn't.
In the six seasons since we dropped to this level, for at least four of them we had a squad that could have finished in the top six. Cooper managed it. Martin failed miserably. The Potter year probably saw too much transition for a serious attempt. |
Potters signings were poor.
Martin if that’s the bench mark were far far better. | |
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| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 20:18 - May 3 with 652 views | Dr_Winston |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 20:03 - May 3 by KeithHaynes |
Potters signings were poor.
Martin if that’s the bench mark were far far better. |
For the most part, no doubt. We wasted a lot of money in the Potter season. Mind you. that we spent a lot of money in the first place is an inconvenient truth to the "Asset Strippers!" types.
Having said that, we also made some wise investments. Celina could have become a profitable asset if Potter had been replaced by a manager who wasn't instantly suspicious of a bit of creativity and flair. If he had been allowed to continue to develop his sale could have covered the cost of the rest of them and more. | |
| 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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