Mick
Life President
- Joined
- Oct 28, 2003
- Messages
- 10,953
On a quick look through nothing too startling - a loss of £2.5Million consistent with previous periods. Turnover was slightly higher with advertising revenue showing the biggest increase. Player trading income much lower though - less than half the previous year at £0.5million, who would we have git a fee for in the year ended 31 July 2019?
The 31 July 2020 have not been filed, They should have been filed by 30 April 2021. Hopefully will not have to wait another year before they are filed.
Also confirmation statement (this includes list of shareholders) should have been filed by 16 May 2021.
We already knew we were losing at least £30k a week as Ron has told us more than once that he was having to bail out the club along those lines.
Those levels of losses highlight the need for the new stadium to start generating some further revenue streams of course. But as mentioned before we don't run a bank overdraft/debt and when we say how much is the club in debt well the answer is other than HMRC there is no true "external debt" as its all inter-company. And if there is any HMRC liability still hanging over us it will get sorted (as there is zero chance of Ron allowing us to go under with planning go forward, and the project size makes it now much easier to raise collateral)
In the end the Fossets and RH developments trigger a re-capitalisation ( again as already stated by Ron) so the club will probably have no debt at a relatively near future date. BUT I suspect from that point Ron will expect the club to be self financing (unless another owner comes along with more money than sense...).
I don't think the end result is in doubt- the timings however have been a moving feast.
Erm have I missed something or is Ron no longer charging rent?
Also it shows how broken football is when losing £2.5 million a season is seen as normal
Additional revenues to SUFC confirmed as the occassional raffle in the North Stand ??Those levels of losses highlight the need for the new stadium to start generating some further revenue streams of course.
So on paper Rons companies are owed £750,000 for that year, hopefully we get planning approved otherwise our club isn't viableIt's detailed on page 20 at the same annual rent of £450,000.
It's also mentioned on page 30 along with the ongoing 'managment charge' of £300,000 per year within the SEL owings
So on paper Rons companies are owed £750,000 for that year, hopefully we get planning approved otherwise our club isn't viable
This has been covered so many times now. No not that as I suspect you know :-)Additional revenues to SUFC confirmed as the occassional raffle in the North Stand ??
The club has never been viable. Never made money. Most football clubs don't. However, it has the best chance of being viable with the new stadium significantly reducing what any owner needs to put in.So on paper Rons companies are owed £750,000 for that year, hopefully we get planning approved otherwise our club isn't viable
I expect this would have been instalments rather than a transfer concluded 1 Aug 2018-31 July 2019. So instalments on the Ryan Leonard transfer, maybe some add ons from the Bentley and Payne transfers and some academy players payments (Dominic Iorfa Jr for example).