| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... 15:29 - Apr 30 with 6536 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 06:00 - May 1 with 1516 views | Whiterockin |
Even that was dated 3rd July and not August. |  | | |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 06:44 - May 1 with 1490 views | jackrmee |
I’m no mathematician, but I can see there is a problem here.
Championship clubs, in order to compete, need a deep squad.
With a possible 5 substitutions, we need a capable sub in every position.
We are saying that Cullen may not be worth £10k a week, so what will get him to sign, £7k?
If we are to pay within our means, that is going to mean we have to cut wages.
If we aren’t good enough now, how are we going to be able to improve, while cutting wages?
If we need to sign better players, how can we find them on cheaper wages?
Doesn’t seem possible.
If we want to be more sustainable and our players on less than £10k a week, we need to accept being in league 1.
Unless we can compete with wages, how can we compete on the pitch in this division? |  |
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| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 06:51 - May 1 with 1486 views | QJumpingJack |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 22:30 - Apr 30 by ReslovenSwan1 |
I think he is arguing that he had no role in the July 22-23 figures because the budget was set by Mr Winter not him and he stuck with the budget hand he was given.
Next season should be better with the £4.5 M for some payer more Martin Compo increased TV venue and hopefully EPL share payments as well as Piroe money..The club has had a £1m a month loss for thd last 5 seasons roughly .
The younger fellows are on lower money so must play replacing highly paid non performing veterans. |
I am not convinced by your first paragraph.
Who appointed Paul Watson which fell within the 22-23 accounts season? |  | | |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 07:11 - May 1 with 1465 views | swan_si |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 06:00 - May 1 by Whiterockin |
Even that was dated 3rd July and not August. |
Did you read it? |  | | |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 08:01 - May 1 with 1411 views | Dr_Winston |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 06:44 - May 1 by jackrmee |
I’m no mathematician, but I can see there is a problem here.
Championship clubs, in order to compete, need a deep squad.
With a possible 5 substitutions, we need a capable sub in every position.
We are saying that Cullen may not be worth £10k a week, so what will get him to sign, £7k?
If we are to pay within our means, that is going to mean we have to cut wages.
If we aren’t good enough now, how are we going to be able to improve, while cutting wages?
If we need to sign better players, how can we find them on cheaper wages?
Doesn’t seem possible.
If we want to be more sustainable and our players on less than £10k a week, we need to accept being in league 1.
Unless we can compete with wages, how can we compete on the pitch in this division? |
The only way we can, by buying cheap, selling high, and not caving in to demands by barely adequate strikers to pay them half a million a year. |  |
| 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 08:24 - May 1 with 1371 views | QJumpingJack |
May 2023 - the club would have been paying both Coleman and Winter. I doubt that would have been cheap. | | | |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 08:32 - May 1 with 1348 views | Whiterockin |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 07:11 - May 1 by swan_si |
Did you read it? |
Of course I did and your point is. | | | |
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| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 09:35 - May 1 with 1302 views | jasper_T |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 06:44 - May 1 by jackrmee |
I’m no mathematician, but I can see there is a problem here.
Championship clubs, in order to compete, need a deep squad.
With a possible 5 substitutions, we need a capable sub in every position.
We are saying that Cullen may not be worth £10k a week, so what will get him to sign, £7k?
If we are to pay within our means, that is going to mean we have to cut wages.
If we aren’t good enough now, how are we going to be able to improve, while cutting wages?
If we need to sign better players, how can we find them on cheaper wages?
Doesn’t seem possible.
If we want to be more sustainable and our players on less than £10k a week, we need to accept being in league 1.
Unless we can compete with wages, how can we compete on the pitch in this division? |
Plenty of Championship teams compete every season without deep squads of established players. Some even get promoted. It's tough but clubs have to wake up to reality if they're to stop bleeding money.
Build a strong starting 11 plus 2 or 3 proven replacements, ditch the injury prone lads unless they can accept pay as you play deals, and fill out the bench with academy boys earning 1/10th what a senior player does, who might be worth significantly more should they develop and impress. Two players for every position is Champions League economics not Championship.
We've done a terrible job cutting back the squad over the last few years despite the complaints of our managers and many fans. | | | |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 17:11 - May 1 with 1122 views | max936 |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 06:44 - May 1 by jackrmee |
I’m no mathematician, but I can see there is a problem here.
Championship clubs, in order to compete, need a deep squad.
With a possible 5 substitutions, we need a capable sub in every position.
We are saying that Cullen may not be worth £10k a week, so what will get him to sign, £7k?
If we are to pay within our means, that is going to mean we have to cut wages.
If we aren’t good enough now, how are we going to be able to improve, while cutting wages?
If we need to sign better players, how can we find them on cheaper wages?
Doesn’t seem possible.
If we want to be more sustainable and our players on less than £10k a week, we need to accept being in league 1.
Unless we can compete with wages, how can we compete on the pitch in this division? |
This in a nutshell. |  |
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| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 17:19 - May 1 with 1115 views | SullutaCreturned |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 09:35 - May 1 by jasper_T |
Plenty of Championship teams compete every season without deep squads of established players. Some even get promoted. It's tough but clubs have to wake up to reality if they're to stop bleeding money.
Build a strong starting 11 plus 2 or 3 proven replacements, ditch the injury prone lads unless they can accept pay as you play deals, and fill out the bench with academy boys earning 1/10th what a senior player does, who might be worth significantly more should they develop and impress. Two players for every position is Champions League economics not Championship.
We've done a terrible job cutting back the squad over the last few years despite the complaints of our managers and many fans. |
Plenty? How many Championship clubs have turned a profit in the last 5 years?
Even those clubs at the top end this season are running at massive losses.
When the full facts come out I'd be surprised if even one club had turned a profit this season. | | | |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 17:32 - May 1 with 1101 views | Whiterockin |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 17:19 - May 1 by SullutaCreturned |
Plenty? How many Championship clubs have turned a profit in the last 5 years?
Even those clubs at the top end this season are running at massive losses.
When the full facts come out I'd be surprised if even one club had turned a profit this season. |
You have a massive advantage with the parachute payments, blow that chance like we did and you will struggle. | | | |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 19:27 - May 1 with 1039 views | ReslovenSwan1 |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 17:32 - May 1 by Whiterockin |
You have a massive advantage with the parachute payments, blow that chance like we did and you will struggle. |
Three managers have come to Swansea and not helped the club in the long term.
Potter wasted his £ 7 m transfer budget with duds Cooper got rid of. None of his 4 signing were any good. Ivan Toney and Robert Dickie were snapped up by other clubs. He deserted his post stating the job at Swansea was harder than he expected despite getting McBurnie James and Byers from the academy with Rodon and Roberts in the wings.
Cooper went for broke with expensive loans but only scrapped in 6th with Brewster on fire Guehi and Gallagher. Ayew and Borja and Dutch Mike. He later returned Gyorkeres. He was thinking about Cooper not SCFC.
Martin dispatched another hot prospect and fell out with two other forward. One is fair enough but three is some sort of record.
They have considered difficult trading condition and an affront to their pride and gone to clubs with enormous spending power in Chelsea Forest and Southampton . Cooper and Potter have wasted about £1 billion is crazy spending. Potter seems to have dodged responsibility for the Chelsea mess. He was clearly not strong enough t mould his own team. Cooper did not stop Shelvey from signing a 3 year £70 k a week deal. He just set him on his way after one season.
Swansea have been making trading losses of £1m a month since they left the PL. Big sale has covered this, No players to sell now so US cash is required "to keep the lights on".
Coleman and Gude will need to stop the £1m per month trading loss to enable them to keep Parker and the Govea s at the club and only sell at peak valuation. Injury prone veterans need to go. |  |
| Wise sage since Toshack era |
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| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 20:27 - May 1 with 996 views | QJumpingJack |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 19:27 - May 1 by ReslovenSwan1 |
Three managers have come to Swansea and not helped the club in the long term.
Potter wasted his £ 7 m transfer budget with duds Cooper got rid of. None of his 4 signing were any good. Ivan Toney and Robert Dickie were snapped up by other clubs. He deserted his post stating the job at Swansea was harder than he expected despite getting McBurnie James and Byers from the academy with Rodon and Roberts in the wings.
Cooper went for broke with expensive loans but only scrapped in 6th with Brewster on fire Guehi and Gallagher. Ayew and Borja and Dutch Mike. He later returned Gyorkeres. He was thinking about Cooper not SCFC.
Martin dispatched another hot prospect and fell out with two other forward. One is fair enough but three is some sort of record.
They have considered difficult trading condition and an affront to their pride and gone to clubs with enormous spending power in Chelsea Forest and Southampton . Cooper and Potter have wasted about £1 billion is crazy spending. Potter seems to have dodged responsibility for the Chelsea mess. He was clearly not strong enough t mould his own team. Cooper did not stop Shelvey from signing a 3 year £70 k a week deal. He just set him on his way after one season.
Swansea have been making trading losses of £1m a month since they left the PL. Big sale has covered this, No players to sell now so US cash is required "to keep the lights on".
Coleman and Gude will need to stop the £1m per month trading loss to enable them to keep Parker and the Govea s at the club and only sell at peak valuation. Injury prone veterans need to go. |
why don't you request a meeting with Coleman and tell him your thoughts? | | | |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 20:35 - May 1 with 975 views | jasper_T |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 17:19 - May 1 by SullutaCreturned |
Plenty? How many Championship clubs have turned a profit in the last 5 years?
Even those clubs at the top end this season are running at massive losses.
When the full facts come out I'd be surprised if even one club had turned a profit this season. |
I never mentioned profit. There's a wide gap between profitable and an £18m accounts loss., and usually there's one or two teams in the playoffs with more reasonable budgets (Luton, Coventry, Barnsley when we played them). | | | |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 20:52 - May 1 with 958 views | ReslovenSwan1 |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 20:27 - May 1 by QJumpingJack |
why don't you request a meeting with Coleman and tell him your thoughts? |
I put my thoughts here. It is a forum. I do not know why folks are making a fuss.
The year for which the accounts are relevant are from July 31 2022 to July 31 2023.
It looks as if Coleman arrived in May 2023 and took over formally in August 2023. It could be he had a bedding in period possibly unpaid.
You will recall Winter slipped away quietly and was not sacked. There was no announcement I can recall. He was most probably engaged to hand over the reign over the summer. The budget was set well before Coleman had arrived.
Winter may have been paid for the period May 2023 -to August 2023. Do you remember the tweet about Winter and Marsh. "we look after our staff" . Neither had been sacked and both were still working for the club. | |
| Wise sage since Toshack era |
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| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 21:40 - May 1 with 932 views | QJumpingJack |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 20:52 - May 1 by ReslovenSwan1 |
I put my thoughts here. It is a forum. I do not know why folks are making a fuss.
The year for which the accounts are relevant are from July 31 2022 to July 31 2023.
It looks as if Coleman arrived in May 2023 and took over formally in August 2023. It could be he had a bedding in period possibly unpaid.
You will recall Winter slipped away quietly and was not sacked. There was no announcement I can recall. He was most probably engaged to hand over the reign over the summer. The budget was set well before Coleman had arrived.
Winter may have been paid for the period May 2023 -to August 2023. Do you remember the tweet about Winter and Marsh. "we look after our staff" . Neither had been sacked and both were still working for the club. |
as per my post on the other thread - the club did officially announce Winter's departure on 24th June. | | | |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 22:09 - May 1 with 918 views | ReslovenSwan1 |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 21:40 - May 1 by QJumpingJack |
as per my post on the other thread - the club did officially announce Winter's departure on 24th June. |
So Coleman has responsibility of the final month (of the financial year just reported on) after arriving in May 2023 and having a two month handing over period with Winter. The budget was set in July 2022 well before he arrived.
He may well have been unpaid in May and June and just sorting out personal affairs. | |
| Wise sage since Toshack era |
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| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 23:09 - May 1 with 866 views | Whiterockin |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 22:09 - May 1 by ReslovenSwan1 |
So Coleman has responsibility of the final month (of the financial year just reported on) after arriving in May 2023 and having a two month handing over period with Winter. The budget was set in July 2022 well before he arrived.
He may well have been unpaid in May and June and just sorting out personal affairs. |
The official statement from the club at the time he was announced as chairman with the last paragraph stating the he was taking up his responsibilities with immediate effect. Not in a month or two he had full responsibility from day one.
https://www.swanseacity.com/ne | | | |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 23:15 - May 1 with 846 views | Whiterockin |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 22:09 - May 1 by ReslovenSwan1 |
So Coleman has responsibility of the final month (of the financial year just reported on) after arriving in May 2023 and having a two month handing over period with Winter. The budget was set in July 2022 well before he arrived.
He may well have been unpaid in May and June and just sorting out personal affairs. |
This is the part of yesterday's club statement that is being disputed.
“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."
A complete fabrication. [Post edited 1 May 23:16]
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| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 06:57 - May 2 with 759 views | bennytheblue |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 19:27 - May 1 by ReslovenSwan1 |
Three managers have come to Swansea and not helped the club in the long term.
Potter wasted his £ 7 m transfer budget with duds Cooper got rid of. None of his 4 signing were any good. Ivan Toney and Robert Dickie were snapped up by other clubs. He deserted his post stating the job at Swansea was harder than he expected despite getting McBurnie James and Byers from the academy with Rodon and Roberts in the wings.
Cooper went for broke with expensive loans but only scrapped in 6th with Brewster on fire Guehi and Gallagher. Ayew and Borja and Dutch Mike. He later returned Gyorkeres. He was thinking about Cooper not SCFC.
Martin dispatched another hot prospect and fell out with two other forward. One is fair enough but three is some sort of record.
They have considered difficult trading condition and an affront to their pride and gone to clubs with enormous spending power in Chelsea Forest and Southampton . Cooper and Potter have wasted about £1 billion is crazy spending. Potter seems to have dodged responsibility for the Chelsea mess. He was clearly not strong enough t mould his own team. Cooper did not stop Shelvey from signing a 3 year £70 k a week deal. He just set him on his way after one season.
Swansea have been making trading losses of £1m a month since they left the PL. Big sale has covered this, No players to sell now so US cash is required "to keep the lights on".
Coleman and Gude will need to stop the £1m per month trading loss to enable them to keep Parker and the Govea s at the club and only sell at peak valuation. Injury prone veterans need to go. |
What about cabango? Surely worth 2 million but being swansea you’ll get 5? Isn’t this the way? |  | | |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 07:15 - May 2 with 743 views | Dr_Winston |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 23:15 - May 1 by Whiterockin |
This is the part of yesterday's club statement that is being disputed.
“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."
A complete fabrication. [Post edited 1 May 23:16]
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If it's for the financial year 22/23 then it does pre-date his arrival as chairman. It's also not beyond likely, indeed based on my understanding of how the club is currently financed perhaps the most probable situation that much of the budget for the forthcoming season had also been agreed.
It is a clumsy attempt at blame shifting, but not an altogether unjustified one. | |
| 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 08:12 - May 2 with 678 views | Whiterockin |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 07:15 - May 2 by Dr_Winston |
If it's for the financial year 22/23 then it does pre-date his arrival as chairman. It's also not beyond likely, indeed based on my understanding of how the club is currently financed perhaps the most probable situation that much of the budget for the forthcoming season had also been agreed.
It is a clumsy attempt at blame shifting, but not an altogether unjustified one. |
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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| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 08:27 - May 2 with 666 views | Dr_Winston |
| 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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How much of the loss was down to expenses incurred in the last 25% of the year? How much of it was as a result of contracts/transfers agreed well before that?
I'm not denying that there's a bit of blame shifting going on, but it's also fairly obvious that little of it can seriously be laid at his feet. The next accounts will be all on him. | |
| 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 08:38 - May 2 with 662 views | Whiterockin |
| SWANSEA CITY CONFIRM LATEST ACCOUNTS ... on 08:27 - May 2 by Dr_Winston |
How much of the loss was down to expenses incurred in the last 25% of the year? How much of it was as a result of contracts/transfers agreed well before that?
I'm not denying that there's a bit of blame shifting going on, but it's also fairly obvious that little of it can seriously be laid at his feet. The next accounts will be all on him. |
Why distance himself totally from the 22/23 season saying he started in August when it clearly is not true. He is also starting to make excuses for the 23/24 season by hinting that he had no control of the budget, as much of the budget in place before his arrival. | | | |
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