| Swans Accounts on 21:21 - Apr 3 with 3402 views | Darran |
Pearlman comes in on £15k a week,takes on loads of extra staff and spends a fortune on a pointless shop in town.
If we’d left Dineen in charge we might be in profit.  | |
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| Swans Accounts on 21:30 - Apr 3 with 3368 views | QJumpingJack |
I wonder how much it costs the club in expenses for the Americans every time they visit the UK - flights (business?), hotels etc. It must add up over time. | | | |
| Swans Accounts on 21:40 - Apr 3 with 3341 views | jasper_T |
I thought they never came over. | | | |
| Swans Accounts on 21:46 - Apr 3 with 3318 views | LeonWasGod |
I’d imagine anyone who is on a contract signed in the PL is going to be too expensive to keep unless they take a significant wage cut. Probably VDH aside if those figures are correct. Probably get away with it this year, bur we can’t pay £30k/w+ to multiple players once the parachute paymentsvdrop off. | | | |
| Swans Accounts on 22:04 - Apr 3 with 3267 views | majorraglan |
Based on the figures above, that would mean an annual wage bill of between £26m and £30m depending on Andrew Ayew’s actual salary over the course of 12 months. That’s a great deal of money the club can no longer afford.
The income from the sale of players and reduction in wages will hopefully have secured the long term future of the club, but there is more work to be done. The losses on player transfer is a big impact factor. | | | |
| Swans Accounts on 22:19 - Apr 3 with 3236 views | ploppy |
If those figures are correct, I'd be well pissed if I was VdH. | | | |
| Swans Accounts on 23:05 - Apr 3 with 3163 views | Lord_Bony |
Let's not forget the team of accountants is paid to reduce the profits on paper as much as they can by claiming maximum outgoings and things we cannot even think of in order to reduce tax liabilities, all perfectly legal.
It may not be as bad as it looks. | |
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| Swans Accounts on 23:54 - Apr 3 with 3114 views | dobjack2 |
Sad but possibly true | | | |
| Swans Accounts on 12:38 - Apr 4 with 2947 views | Badlands |
Increased commercial revenue by £2.6 million (31%) at a time we were not the mis marketable team in he league. | |
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| Swans Accounts on 12:47 - Apr 4 with 2928 views | LeonWasGod |
And it doesn't look too bad. Certainly nowhere near the scare stories you read on here. It's business as usual - running the club within its means. A challenge to carry on doing that, but we've shifted loads of wages off the books this season (by far the biggest expense). Where we'll struggle this year is in not selling players for good fees. | | | |
| Swans Accounts on 13:21 - Apr 4 with 2863 views | valleyboy |
I suggest you wait until the year end results are up in Company House before saying it’s not too bad | | | |
| Swans Accounts on 13:54 - Apr 4 with 2798 views | LeonWasGod |
I can't see them submitting a set of accounts that's much different to the headlines they've reported on the website. | | | |
| Swans Accounts on 13:59 - Apr 4 with 2787 views | JJJack |
WTF?
These figures are up til July 2018. The losses/debt would have accrued since then (in the main) as a result of relegation/massive drop in TV money. | | | |
| Swans Accounts on 14:05 - Apr 4 with 2774 views | felixstowe_jack |
There also the transfer fees for players sold most of which were in August after the accounts were finalised, should be about £20 million. | |
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| Swans Accounts on 14:15 - Apr 4 with 2760 views | Tom1912 |
Way too early to be concluding that.
We need to see what the debt levels look like. The loss is irrelevant, especially as these are for the 17-18 season. The 18-19 season is where we need to really understand the impact of the loss. | | | |
| Swans Accounts on 14:28 - Apr 4 with 2735 views | hobo |
Near £40m transfer profit. Wages dropped massively. £40m parachute money. The accounts should be pretty healthy. | | | |
| Swans Accounts on 14:32 - Apr 4 with 2731 views | Tom1912 |
I'm not convinced wages have dropped by nearly enough to match the drop in revenue.
I don't believe there is £40m transfer profit either once historic debts have been settled.
But we'll see. | | | |
| Swans Accounts on 16:56 - Apr 4 with 2612 views | felixstowe_jack |
The accusation that the ownews are taking money out of the club to line their and the hedge fund members, pockets seems to proven wrong. No dividends paid out. If they had taken large amounts out of the club would expect a far bigger loss.
Seems all those who boycotted the FA cup games and hospitality bars have only led to more people than necessary getting redundancy. | |
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| Swans Accounts on 09:26 - Apr 5 with 2262 views | dobjack2 |
As to the first part, agree there has been no evidence provided to support the theory that the owners are taking money out of the club and into their pockets.
As to the second part, the reason we are in a mess with potential redundancies is not because a few people have stayed away from a game or have not spent money on hospitality but because of poor financial management and player acquisition. Having owners who didn’t understand what was going on or seem interested enough in the club to care contributed.
We were paying way over the top in transfer fees and giving contracts out that were clearly unsustainable. There also seemed little logic in some of our signings especially for the fees we paid. As a result there is a financial hole on relegation, Job losses follow because of that, a few fans staying away from a FA Cup game will not affect what is coming. Your attempt to blame fans for additional job losses is frankly appalling.
The person who presided over this mess has left. He has been well rewarded but His legacy is still with us. | | | |
| Swans Accounts on 21:15 - Apr 5 with 2116 views | Badlands |
Even bald figures don't show £40 million profit on sales, nearer £32 million - still healthy but as you point out historic debts on players who brought in no where near what we paid for them, the impending loss of players at end of contract (no income), part payment of wages on loans out and picking up expensive player wages between the end of their loan spells and leaving (in whatever circumstances0 will whittle that figure down significantly. | |
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| Swans Accounts on 21:24 - Apr 5 with 2096 views | valleyboy |
If the accounts are not so bad as some posters think that they are
Then there’s two questions
Why isn’t the accounts up in Company House so everyone could see the final detail
And the second
Why was a person like Birch and with all his baggage brought in as Chairman | | | |
| Swans Accounts on 21:29 - Apr 5 with 2091 views | Badlands |
I don't know.
or do you or the 'some posters '.
The accounts to 2018 won't include any of the fall out from relegation.
As I see it Birch is coming in before the fan is switched on to reduce he risk of a sh**storm'. | |
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| Swans Accounts on 21:39 - Apr 5 with 2077 views | valleyboy |
Yes exactly
And if you believe what icwales said today, that income fell by £70 million and not what Pearlman said that it fell by £60 million after relegation from the Premier League
It’s inevitable that a massive shake up will happen. As no business can survive that amount of loss in revenue without drastic cutbacks | | | |
| Swans Accounts on 23:02 - Apr 5 with 2006 views | Garyjack |
They are not correct. Those figures were from 12 months ago when we were in the Premier league. Virtually all of them apart from Bony and Andre Ayew had relegation clauses in their contracts. | | | |
| Swans Accounts on 23:40 - Apr 5 with 1968 views | valleyboy |
If you think that only Bony and A Ayew had relegation clauses in their contracts,
. Then you are another that lives in cloud cuckoo land | | | |
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