Echo News Southend United under transfer embargo due to money owed to HMRC

[Ricey]

We should never have removed that ‘dislike’ option for posts

He might be a bit of a **** but he gets results. I’d take Evans and Gillingham’s current position over our current plight.

 

[Yorkshire Blue]

But with no income for 2 1/2 months ( end of season to pre season friendlies ), where's the money going to come from??.

Season ticket sales.

Plus also the sale of Charlie Kelman this summer.

 

[Somerset Ex-TTB]

This is the reason we are in the mire - the way the wage bill increased under Brown:

2014/15 £3.296m for 93 football related (players inc Academy coaches, physios etc) and 38 (admin and ground staff etc)
2015/16 £4.046m for 85 and 39
2016/17 £4.700m for 105 and 46
2017/18 £5.600m for 104 and 41

Slightly misleading....

Average salary cost

2014/15 £25.1k
2015/16 £32.6k
2016/17 £31.1k
2017/18 £38.6k

I think its the number of staff as well as the increase in big time player contracts.

The additional 14 bodies in 17/18 compared to 14/15 accounted for half a million of the increase, and don't forget also in that time we moved from League two to League one, so you would expect the costs to increase as in theory your revenue should be increasing too.

 

[Tommy2holes]

This is the reason we are in the mire - the way the wage bill increased under Brown:

2014/15 £3.296m for 93 football related (players inc Academy coaches, physios etc) and 38 (admin and ground staff etc)
2015/16 £4.046m for 85 and 39
2016/17 £4.700m for 105 and 46
2017/18 £5.600m for 104 and 41

Around a £1m of the increase was funded through player sales - the rest through supposed gate increases and cup runs and Ron. When we finished 7th in 16/17 Ron gave Phil another £1m on the budget to pay for Kiernan, Kightly, Turner etc and new contracts for Oxley, Ferdinand etc. for our promotion push

It didn't work and he had to cut his cloth accordingly. We've run out of cash.

It's relative though. I follow money, additional sponsorship and the money we get from the EFL each year is now about 1.2 million +. That's without any club sources income.

We have also sold and made money on a couple of players.

Hopper and bishop recently for about 3-400k

I think we also made some other youth sales pre season.

Throw in season card, merchandise and pay on the day sales and you should be looking at a couple of million on top.

The real problem was the money paid out to the likes of bond and Ridgewell etc. Coxy wasn't getting played but earning a reported 5k per week.

We must learn lessons and rebuild properly next year with a sustainable budget.

 

[LBBlue]

Slightly misleading....

Average salary cost

2014/15 £25.1k
2015/16 £32.6k
2016/17 £31.1k
2017/18 £38.6k

I think its the number of staff as well as the increase in big time player contracts.

The additional 14 bodies in 17/18 compared to 14/15 accounted for half a million of the increase, and don't forget also in that time we moved from League two to League one, so you would expect the costs to increase as in theory your revenue should be increasing too.

Ron does produce quite detailed accounts - more so than most clubs
Can access them here

https://beta.companieshouse.gov.uk/company/00089767/filing-history

 

[Jim Levenstein]

CP about to interview Ron...

More **** coming our way!

 

[Leigh_Seasider]

But with no income for 2 1/2 months ( end of season to pre season friendlies ), where's the money going to come from??.

Player sales I guess, unless we have another tax bill to pay or cashflow really is that bad. Hopefully Kelman and Clifford will put themselves in the shop window in the next 12 games and attract 6 figure fees (half joking!)

 

[THE SEVENTIES NORTH BANK]

CP about to interview Ron...

More **** coming our way!

He'll do the usual about the club losing money. The high players budget. And then throw in some good news, and spin of course.

 

[LennySUFC]

£600,000....

 

[fbm]

Season ticket sales.

Plus also the sale of Charlie Kelman this summer.

And Elvis.

 

[fbm]

Just a thought... we paid up a lot of contracts last month in full. That means a lot of PAYE owed to HMRC.

When's that due? At some point this month, isn't it?

 

[Tinks]

And Elvis.

I don’t think you are to far off the mark there

 

[OldBlueLady]

No, I think Elvis is far more likely.

 

[tottenham541]

£600,000....

I’d rather Ron Martin got out of this club now, I’d sooner start all over again than continue like we have been, his a joke.

 

[Westcliff DGS]

Just a thought... we paid up a lot of contracts last month in full. That means a lot of PAYE owed to HMRC.

When's that due? At some point this month, isn't it?

Did we pay them up though? I say that as Kiernan asked to leave so maybe he just said cancel the contract (which i think the press resales said and not mutual termination) and i will sign for Orange County. Cox was a mutual but i would hope there was some give as again he wanted to leave as he wasn’t playing andnd he has signed a very decent deal with WSW.

So just maybe it wasnt as bad a we feared, I’m just typing and hoping

 

[BrettieAngell]

Its been paid next week apparently, no mention of where the debt has come from though

 

[LBBlue]

£600,000....

£600,000 is just under 10% of annual turnover- I would think it’s the cash needed to pay any wages, deductions and all other creditors at the end of February - next week. It can’t be just what’s owed to HMRC.

 

[fbm]

Its been paid next week apparently, no mention of where the debt has come from though

That doesn't matter actually. Ron is swapping our debt for his debt.

That's why he's not going anywhere people, and that's why we will fold if he does.

Did we pay them up though? I say that as Kiernan asked to leave so maybe he just said cancel the contract (which i think the press resales said and not mutual termination) and i will sign for Orange County. Cox was a mutual but i would hope there was some give as again he wanted to leave as he wasn’t playing andnd he has signed a very decent deal with WSW.

So just maybe it wasnt as bad a we feared, I’m just typing and hoping

No, all contracts I believe were paid up in full. Kiernan certainly didn't waive half a season's worth of dosh just so he could sign for Orange County.

 

[Westcliff DGS]

Absolutely no chance that Rob Kiernan did us any favours.

ron said he didn’t pay in full for RK, so hopefully the same for SC too

 

[Barry.C]

It's relative though. I follow money, additional sponsorship and the money we get from the EFL each year is now about 1.2 million +. That's without any club sources income.

We have also sold and made money on a couple of players.

Hopper and bishop recently for about 3-400k

I think we also made some other youth sales pre season.

Throw in season card, merchandise and pay on the day sales and you should be looking at a couple of million on top.

The real problem was the money paid out to the likes of bond and Ridgewell etc. Coxy wasn't getting played but earning a reported 5k per week.

We must learn lessons and rebuild properly next year with a sustainable budget.

Just wondering about Rigsbys comment that we may have got more for Bishop than people think.? Admittedly fantasy stuff but just maybe if Ron did get more but wanted to play it down, the combined Hooper and Bishop cash could then have been around or above £600 k ?