| Swans accounts on company house 21:15 - Feb 7 with 3783 views | andrew |
Up to 2017, club only 22m up since promotion until that season. Surely made a loss last season, where’s this 70m black hole people are mentioning? |  |
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| Swans accounts on company house on 21:21 - Feb 7 with 3733 views | Oldjack |
It's a myth |  |
| Prosser the Tosser dwells on Phil's bum hole like a rusty old hemorrhoid ,fact
You Greedy Bastards Get Out Of OUR Club!
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| Swans accounts on company house on 21:30 - Feb 7 with 3670 views | Flashberryjack |
Lots of money gets lost in black holes...some even make money out of them. |  |
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| Swans accounts on company house on 21:36 - Feb 7 with 3643 views | LeonWasGod |
My take is that the club was facing a black hole (=shortfall in funding) due to relegation. Very approximately income in the PL was about £120-130m, income in Championship about £50-60m. So approx £70m needed to be cut as they won’t put in finance themselves.
Any finance they did put over normal income would go down as debt, so it’s not necessarily a bad thing that they aren’t gambling and spending extra. Mind you, there is a time to gamble, and that time is now. It’ll get harder to be promoted as income drops further and we lose more of our better players (and potentially manager).
I think people talking about the black hole are just talking about the drop in funding from PL to EFL. I could well be wrong though and anyone who knows anything about the finances of football clubs may tell you that all that ^^^ is rubbish. |  | | |
| Swans accounts on company house on 22:07 - Feb 7 with 3533 views | andrew |
So they haven’t reaally taken any money? | |
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| Swans accounts on company house on 22:12 - Feb 7 with 3506 views | PozuelosSideys |
| Swans accounts on company house on 22:07 - Feb 7 by andrew |
So they haven’t reaally taken any money? |
Doubt it. What Leon has written above is spot on |  |
| "Michu, Britton and Williams could have won 3-0 on their own. They wouldn't have required a keeper." | | Poll: | Hattricks |
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| Swans accounts on company house on 22:14 - Feb 7 with 3496 views | thornabyswan |
| Swans accounts on company house on 22:07 - Feb 7 by andrew |
So they haven’t reaally taken any money? |
The Trust have said they have noticed nothing to suggest it in the books they have seen.
But have not seen enough detail either.
Also did not see any books at All for about 3 months in the summer.
So suspicion remains but with no proof.
That's how I view it. | |
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| Swans accounts on company house on 22:29 - Feb 7 with 3415 views | Shaky |
In finance assets are what you own, and liabilities what you owe. These are shown on the balaace sheet.
End 2017 there were short term assets of £32 million + £8m of relevant longer term assets.
There were short term liabilities of £97million plus another £10 million of relevant longer term liabilities.
(32+8)-(97+10)=black hole at the end of 2017=net amount of money that the club owed. |  |
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| Swans accounts on company house on 22:31 - Feb 7 with 3405 views | Shaky |
This is really very, very simple.
It can only be cognitive dissonance left over from the days of the mantra of the well run club that is preventing people from grasping this infant school bit of maths. | |
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| Swans accounts on company house on 22:43 - Feb 7 with 3327 views | longlostjack |
| Swans accounts on company house on 22:29 - Feb 7 by Shaky |
In finance assets are what you own, and liabilities what you owe. These are shown on the balaace sheet.
End 2017 there were short term assets of £32 million + £8m of relevant longer term assets.
There were short term liabilities of £97million plus another £10 million of relevant longer term liabilities.
(32+8)-(97+10)=black hole at the end of 2017=net amount of money that the club owed. |
I seem to remember that the balance sheet is just a snapshot of the financial position of a company at a moment in time. What about parachute payments? Would they be a form of contingent asset that is not recorded? |  |
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| Swans accounts on company house on 22:44 - Feb 7 with 3324 views | airedale |
| Swans accounts on company house on 21:30 - Feb 7 by Flashberryjack |
Lots of money gets lost in black holes...some even make money out of them. |
That bloke in the wheelchair with the funny voice made enough outa them. |  | | |
| Swans accounts on company house on 22:51 - Feb 7 with 3302 views | jasper_T |
| Swans accounts on company house on 22:43 - Feb 7 by longlostjack |
I seem to remember that the balance sheet is just a snapshot of the financial position of a company at a moment in time. What about parachute payments? Would they be a form of contingent asset that is not recorded? |
Parachute payments are standard television income so whatever the Sky money is normally recorded as.
We sold the first year + 1 payment to a bank in the summer for cashflow. | | | |
| Swans accounts on company house on 23:20 - Feb 7 with 3218 views | Chief |
| Swans accounts on company house on 22:44 - Feb 7 by airedale |
That bloke in the wheelchair with the funny voice made enough outa them. |
Brian Potter? |  |
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| Swans accounts on company house on 23:25 - Feb 7 with 3199 views | Chief |
| Swans accounts on company house on 22:29 - Feb 7 by Shaky |
In finance assets are what you own, and liabilities what you owe. These are shown on the balaace sheet.
End 2017 there were short term assets of £32 million + £8m of relevant longer term assets.
There were short term liabilities of £97million plus another £10 million of relevant longer term liabilities.
(32+8)-(97+10)=black hole at the end of 2017=net amount of money that the club owed. |
I don't think many deny that we are somehow in a mess financially.
But we need to know really what makes up those numbers that you've written and how we can be well positive in transfer fees over the years yet still have terrible figures. Even with our awful signings were are still up in transfer fees (not the 61million touted by sky I don't think, but still a decent chunk). | |
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| Swans accounts on company house on 06:29 - Feb 8 with 3027 views | Dr_Winston |
| Swans accounts on company house on 23:25 - Feb 7 by Chief |
I don't think many deny that we are somehow in a mess financially.
But we need to know really what makes up those numbers that you've written and how we can be well positive in transfer fees over the years yet still have terrible figures. Even with our awful signings were are still up in transfer fees (not the 61million touted by sky I don't think, but still a decent chunk). |
Wages
Payments to sacked managers
Payments to agents
Tax
VAT
Football is an expensive business, particuarly for a club as dependent on the TV money as we were. |  |
| 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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| Swans accounts on company house on 06:38 - Feb 8 with 3014 views | ScottishEddie |
| Swans accounts on company house on 06:29 - Feb 8 by Dr_Winston |
Wages
Payments to sacked managers
Payments to agents
Tax
VAT
Football is an expensive business, particuarly for a club as dependent on the TV money as we were. |
Pretty much. | |
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| Swans accounts on company house on 06:42 - Feb 8 with 3010 views | Dewi1jack |
| Swans accounts on company house on 06:29 - Feb 8 by Dr_Winston |
Wages
Payments to sacked managers
Payments to agents
Tax
VAT
Football is an expensive business, particuarly for a club as dependent on the TV money as we were. |
You forgot paying players not currently playing for us.
All in all it looks more and more certain that our previous board were out of their depth, causing the club to be badly affected. |  |
| If you wake up breathing, thats a good start to your day and you'll make many thousands of people envious. |
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| Swans accounts on company house on 06:43 - Feb 8 with 3003 views | ScottishEddie |
| Swans accounts on company house on 06:42 - Feb 8 by Dewi1jack |
You forgot paying players not currently playing for us.
All in all it looks more and more certain that our previous board were out of their depth, causing the club to be badly affected. |
No shit Sherlock. | |
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| Swans accounts on company house on 08:07 - Feb 8 with 2868 views | Shaky |
| Swans accounts on company house on 22:43 - Feb 7 by longlostjack |
I seem to remember that the balance sheet is just a snapshot of the financial position of a company at a moment in time. What about parachute payments? Would they be a form of contingent asset that is not recorded? |
The parachute payment becomes an asset when it is due in the following season; in a new accounting period.
But it is intended to aid the transition in the costs and wage structure of a relegated team from revenues of +£100 million in TV money to no more than perhaps £10 million in the Championship.
importantly it can not be used twice, both to do that and also to pay off the old debts.
Hence the need for a firesale of players.
And this is where it becomes problematic in the extreme having used that debt to buy players of the calibre of Bony at £12 million, Clucas at £16m, A Ayew at £22m, Mesa at £12m . Sanches loan fee etc.
Not good, and at the same time the club has been unable to achieve anywhere near hoped for prices on some of the better player stock like Mawson. | |
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