| Accounts 17-18 on 00:42 - Apr 28 with 2434 views | valleyboy |
| Accounts 17-18 on 20:57 - Apr 27 by Wingstandwood |
I suspect from reading your post you saw right through Jenkins in times well before his head ended right up his own arse, before his self appointed D.o.F role, and well before he had not acquired a God complex.
Out of interest what got the alarm bells to ring so loudly with yourself whilst many others (myself included) were utterly oblivious of his real character, his lack of morals and lack of genuine professional competence? |
I’m sure that supporters that I have been in contact with over many years will tell you. I have always said in what has happened to Swansea was going to happen
I never bought into the rubbish that I was told by so many. That the likes of Jenkins, Morgan, Dineen would never sell the club as they were Swansea supporters
A year after Swansea won promotion to the Premier League, there were rumours going around that Swansea was looking for buyers to take over the club, and yet I was told they couldn’t sell the club because of this Shareholders Agreement
But I kept telling them, that they would find a way around that little problem
Which they did of course
As for this Shareholders Agreement, I don’t think it’s worth the paper it’s written on, if it has been written down in some form or another
When the collective shares of all the other Directors is more than 75%. Then in a normal business situation, they have complete control of that business
I suppose we will see if that is right, if and when the Trust takes their case to court
I wouldn’t hold out any hopes if the Trust gets any success with it though |  | |  |
| Accounts 17-18 on 00:48 - Apr 28 with 2427 views | jasper_T |
| Accounts 17-18 on 00:35 - Apr 28 by Chief |
Ah right OK
So if we'd been relegated the league 1 this season example, and then next we finished 10th ish
By your logic, we could look back at their 'we've got the resources to compete' and said well we've been competitive |
My logic is we weren't getting relegated this season. | | | |
| Accounts 17-18 on 08:52 - Apr 28 with 2275 views | Zaxx |
| Accounts 17-18 on 00:09 - Apr 28 by Chief |
Cash flow....unachievimg commercial opportunities...
Sounds familiar
What exactly are the yanks needed for? What's the point in them? |
It seems to be becoming more and more apparent that the likelihood is to undo and untangle the mess that has been developing beneath the surface of our club for the last few years.
It wouldn't be my choice to have a hedge fund in control but as supporters we have no control over what goes on at the club. |  | | |
| Accounts 17-18 on 09:07 - Apr 28 with 2260 views | thornabyswan |
| Accounts 17-18 on 20:59 - Apr 27 by majorraglan |
We imagine that the Mawson transfer reportedly £14m, Fernandez £6m and Clucas £6m will have seen a tidy chunk of wedge come in. May not see the whole amount go in to the club coffers, but we are talking about £26m there. |
Plus 6m for Messa 4m for Bartley the Fabianski fee can't remember exact amount.
But 47 million in total fees received rings a bell. | |
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| Accounts 17-18 on 09:44 - Apr 28 with 2200 views | waynekerr55 |
| Accounts 17-18 on 00:40 - Apr 28 by Dr_Winston |
"Rumours" |
Talking of the sage, is he still employed at the club? |  |
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| Accounts 17-18 on 09:49 - Apr 28 with 2192 views | NotLoyal |
| Accounts 17-18 on 08:52 - Apr 28 by Zaxx |
It seems to be becoming more and more apparent that the likelihood is to undo and untangle the mess that has been developing beneath the surface of our club for the last few years.
It wouldn't be my choice to have a hedge fund in control but as supporters we have no control over what goes on at the club. |
21% of us tells me we should be kicking the F*ing doors down. |  |
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| Accounts 17-18 on 09:51 - Apr 28 with 2188 views | monmouth |
| Accounts 17-18 on 09:49 - Apr 28 by NotLoyal |
21% of us tells me we should be kicking the F*ing doors down. |
We are. We're voting on legal action in March. |  |
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| Accounts 17-18 on 10:38 - Apr 28 with 2132 views | chad |
| Accounts 17-18 on 09:51 - Apr 28 by monmouth |
We are. We're voting on legal action in March. |
In fairness a year was not mentioned, only implied |  | | |
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| Accounts 17-18 on 11:21 - Apr 28 with 2083 views | felixstowe_jack |
| Accounts 17-18 on 17:14 - Apr 27 by valleyboy |
“Highlights that the cash flow forecasts to support the going concern assumption are dependent on player transfer
I would say that’s more than an assumption
Not only supporters know that there’s a cash flow problem, but clubs that want to buy any Swansea players know it as well
I would say another “fire sale” on the horizon
For instance
What club will pay A Ayew £80k per week as what he was paid in Swansea
Not only will he go for a knock down price, but will be looking for a pay off as well
What I see happening. Is that Swansea will try to get a season long loan for him but still be paying part of his wages |
Why a fire sale we owe the bank £20 million as opposed to the £100M you owe Tan and £20M to others. Not many players that Cardiff can sell either. | |
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| Accounts 17-18 on 11:25 - Apr 28 with 2074 views | felixstowe_jack |
| Accounts 17-18 on 20:46 - Apr 27 by valleyboy |
Im not that sure if the sale of those players are going to alter the financial position much
Until you know the details of the transfer and whether Swansea are paying part of the mentioned players wages. Or how much was given to the player to move to their new clubs
It’s not easy to know how good or bad those transfers were |
If you transfer players you do not pay players wages. You may pay part of their wages if you loan players. I know in Cardiff case you sign players but refuse to pay the transfer fee. | |
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| Accounts 17-18 on 11:36 - Apr 28 with 2056 views | exiledclaseboy |
| Accounts 17-18 on 10:38 - Apr 28 by chad |
In fairness a year was not mentioned, only implied |
 made me chuckle. |  |
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| Accounts 17-18 on 11:37 - Apr 28 with 2055 views | Badlands |
I keep looking but can't find the column marked -
American Consortium Skim ... £60 million
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| Accounts 17-18 on 11:38 - Apr 28 with 2053 views | Dr_Winston |
A fair few common misconceptions challenged there.
The bit about transfer spending being just £6m less than fees received is confirmation of what a lot of people said at the time. There was no shortage of spending on the team whilst we were in the PL. Problem is a lot of that spending was ineffective. |  |
| 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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| Accounts 17-18 on 12:20 - Apr 28 with 2023 views | BytholWyn |
Given that the accounts are made up to 31 July it's reasonable to assume that some of our transfer activity last summer will appear in the accounts just published whilst others will appear in next year's accounts. Fabianski and Mesa were sold in June, so are presumably already accounted for, whereas Mawson's transfer was reported on 2 August, whereas Clucas and Fernandez left on transfer deadline day - so presumably these deals will appear in next year's accounts. So we're talking about somewhere in the region of £25 million of transfers out in the summer that will appear in next year's accounts. Celina and McKay joined us on 31 July - so your guess is as good as mine as to which year's accounts those transactions will appear. [Post edited 28 Apr 2019 12:44]
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| Accounts 17-18 on 12:54 - Apr 28 with 1999 views | BytholWyn |
Looking at the PriceofFooball tweet on Interest payments we seem to have substituted a lot of "other loans" for bank loans, with the interest on the former having grown substantially with the latter decreasing a lot. I wonder who provided these "other loans" - and given that overall interest payments have grown from £1.1 million to £1.9 million would the interest charged by these "other" loan providers be at a greater interest rate than the banks were charging?
No evidence here of any major syphoning off of cash via interest payments, but a bit more transparency would be welcome. | | | |
| Accounts 17-18 on 12:57 - Apr 28 with 1994 views | jasper_T |
| Accounts 17-18 on 12:54 - Apr 28 by BytholWyn |
Looking at the PriceofFooball tweet on Interest payments we seem to have substituted a lot of "other loans" for bank loans, with the interest on the former having grown substantially with the latter decreasing a lot. I wonder who provided these "other loans" - and given that overall interest payments have grown from £1.1 million to £1.9 million would the interest charged by these "other" loan providers be at a greater interest rate than the banks were charging?
No evidence here of any major syphoning off of cash via interest payments, but a bit more transparency would be welcome. |
The owners said that they have been providing bridging loans, and I believe Trust people have confirmed on here that the interest rates were the same/similar as what banks offer.
The increase in interest is due to more money needing to be borrowed, as we lived further and further beyond our means. | | | |
| Accounts 17-18 on 13:18 - Apr 28 with 1970 views | BytholWyn |
This is the most interesting tweet - if it can be understood correctly: https://mobile.twitter.com/KieranMaguire/status/1122429698280173569/photo/1
Am I right in thinking that the "Additions" amount is the additional value added to the asset value of the squad through player sales? And is the "Disposals" amount the loss of value due to player acquisition? A bit counter-intuitive considering the labels used, but it's the best stab I can make, as a non-accountant, at explaining the figures of £55.5 million for Additions and £33 million for Disposals. If I'm correct, that would translate into a profit on player trading of £22.5 million over the accounting period.
I may well be wrong about this, if so I would be grateful if any accountants out there could put me right. | | | |
| Accounts 17-18 on 13:32 - Apr 28 with 1962 views | jasper_T |
| Accounts 17-18 on 13:18 - Apr 28 by BytholWyn |
This is the most interesting tweet - if it can be understood correctly: https://mobile.twitter.com/KieranMaguire/status/1122429698280173569/photo/1
Am I right in thinking that the "Additions" amount is the additional value added to the asset value of the squad through player sales? And is the "Disposals" amount the loss of value due to player acquisition? A bit counter-intuitive considering the labels used, but it's the best stab I can make, as a non-accountant, at explaining the figures of £55.5 million for Additions and £33 million for Disposals. If I'm correct, that would translate into a profit on player trading of £22.5 million over the accounting period.
I may well be wrong about this, if so I would be grateful if any accountants out there could put me right. |
Other way around, isn't it? Money spent on additions, money received for disposals. | | | |
| Accounts 17-18 on 14:02 - Apr 28 with 1939 views | BillyChong |
| Accounts 17-18 on 00:48 - Apr 28 by jasper_T |
My logic is we weren't getting relegated this season. |
That’s hardly competitive for a club that was established in the top flight | | | |
| Accounts 17-18 on 14:13 - Apr 28 with 1925 views | jasper_T |
| Accounts 17-18 on 14:02 - Apr 28 by BillyChong |
That’s hardly competitive for a club that was established in the top flight |
Were we supposed to buy the league like Newcastle, Wolves and Stoke, then? | | | |
| Accounts 17-18 on 16:18 - Apr 28 with 1866 views | BillyChong |
| Accounts 17-18 on 14:13 - Apr 28 by jasper_T |
Were we supposed to buy the league like Newcastle, Wolves and Stoke, then? |
Not quite but with so called investors behind the club and our recent history you’d have thought there would have been some effort to compete for promotion | | | |
| Accounts 17-18 on 16:49 - Apr 28 with 1823 views | BytholWyn |
| Accounts 17-18 on 13:32 - Apr 28 by jasper_T |
Other way around, isn't it? Money spent on additions, money received for disposals. |
That's what I thought at first, from the language used. But if that were the case, we spent £22.5 million more on players than we got in the season we sold Gylfi. That doesn't make any sense at all. Also, if you look at the figures the £55.5 million is added to the carried forward "Player registration costs" of £119 million, whereas the "Disposals" of £33 million is subtracted from the carried forward figure. So I'm assuming that "disposals" translates as "acquisitions" - with "disposals" being disposals of cash to acquire the players. But I'm no expert, so I'm happy to be corrected on this. A £22.5 million net profit on sales versus acquisitions does sound about right.
The other interesting thing to note is the impairment figure of £14.8 million. I'm pretty sure that this is a write-off due to injuries - which I guess would be down to the injuries to Bony, Fer, Clucas and Mawson - especially the former. That's a massive write-down, but not one I would argue with. | | | |
| Accounts 17-18 on 16:52 - Apr 28 with 1819 views | jasper_T |
| Accounts 17-18 on 16:18 - Apr 28 by BillyChong |
Not quite but with so called investors behind the club and our recent history you’d have thought there would have been some effort to compete for promotion |
"This is a multi-year plan to get back up and, when we get back up, be sustainable."
They're apparently smart enough football people to know that you can't just wave a magic wand (of £50 notes) and fix a football club that had been struggling as badly as we had overnight. Look at Stoke, look at West Brom sacking their manager while they were 4th, it's no way to do things. Look at Norwich and listen to what Stuart Webber says about their project. That's how a football club should be run.
We spent £7m on players last summer and at least half of that was a complete waste because we had better on the books already, who knew each other from playing dozens of times together, winning promotions and trophies. The next £7m would have gone on Woods, who it turns out is a more limited footballer than Matt Grimes. How many more millions to make us "competitive"? It must be easy to improve on these random kids Potter found down a local park and miraculously made into footballers, right? | | | |
| Accounts 17-18 on 16:53 - Apr 28 with 1818 views | Private_Partz |
| Accounts 17-18 on 16:18 - Apr 28 by BillyChong |
Not quite but with so called investors behind the club and our recent history you’d have thought there would have been some effort to compete for promotion |
Indeed. There is this school of thought here that we either spend zillions or sell anything that moves. No in between.
I only would have expected a modicum of investment in the team from the owners. After all we were promised 'the next level' and the 'ability to take the hit of relegation'.
Perhaps the Sellouts and owners should have shut the eff up in the first place..... |  |
| You have mission in life to hold out your hand,
To help the other guy out,
Help your fellow man.
Stan Ridgway
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