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Charlton announce £13.5m loss
Comments
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It won't as we've sold Gudmundsson, Cousins, Pope, Lookman and Fox for around 18mInspectorSands said:
It will be much more now, because most of the £4-5m in TV money will have gone, and season ticket sales have fallen through the floor. We just won't find out until next March.eaststandmike said:
Sadly this sums me us as well, my first thought when I saw the figure was "I wish it was more", sad times indeed.Greenie said:I never thought that the day would come that if my club lost £13.5M it would make me happy.
Well that day has come, and that, Rat Man is failure. I hope it hurts!0 -
No. Lookman sold this year. Accounts are to June 2016.MountsfieldPark said:Well, that must be Lookman and ...?
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Should we start a JustGiving page?35
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Gudmundson and Pope didn't move to Burnley until 19/7/16 so after the latest published financials which were signed off on 16/11/16.MountsfieldPark said:Well, that must be Lookman and ...?
Cousins signed for QPR in July also and Harriott for Reading in August.
Doubt therefore whether Lookman or Fox January fees included in the note 21 - £6m figure.0 -
Is that the cost of relegation or just crap management?0
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One breeds the other.jonseventyfive said:Is that the cost of relegation or just crap management?
I'll let you work out which way round they go.1 -
It's pretty much where I thought it'd be, we knew he was losing roughly £1m a month.
This year harder to tell, may even be a small profit with the sales but we have had further contracts terminated both player and manager, not a lot left to cash in on player wise so 16-17 will be a false dawn.
Whoever the owner is for 17-18 you can almost guarantee another thumping loss, more interest being accrued as well which has a compounding effect.
Wherever you sit it's not pretty.....0 -
I would laugh at Roly but he is will do his utmost to get his money back.
I cant see anyone taking on that debt either.2 - Sponsored links:
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These figures are for the season we were relegated so just crap management on and off the pitch.jonseventyfive said:Is that the cost of relegation or just crap management?
It does show how badly the club is run that it loses so much and still struggles on the pitch. If you lost that much just missing out on promotion you could, maybe, justify it but to spend all that and get relegated!
The numbers are frightening and for a number of reasons.
They are likely to impact on the price being asked to buy the club.
They are likely to encourage more players sales (in fact that as already happened but may well continue)
They will likely limited what the current manager can spend.
They will lead to more drastic cutting of costs such as the stop on the training ground work and closing of blocks of seats.
Please someone just buy us.
How Meire and Driesen are still trusted to spend Uncle Roland's money I just don't know.
The other scary thing is some people (Simple Red for example) will be making up an analysis that means this is a good thing and shows what a good owner Duchatelet is. And they will actually believe it when they write it.
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On the bright side RD has now lost about 10% of his wealth on Charlton.
If I'm right, it was said he's worth £650M. He's so far £65M out of pocket.
Think on Roland, time to sell and quick.24 -
What a financial shambles.
It's worth remembering that these are the accounting losses, which aren't the same as the cash losses, but clearly the January/February acquisitions to try and keep us up cost a lot of money. I imagine the likes of Big Mak probably cost hefty loan fees too.
The 2016/17 numbers will benefit from the sales of a number of "home grown" players who would have had no "book" value, hence the sale proceeds will go straight to the bottom line.2 -
may be a little slow here so for roland to recuperate all he has put in he would be wanting 65 million?. and that would be the club out of any debt to him and completely owned the the new owner/owners?.0
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I think when he brought us he was worth around that figure. I read recently that the value of his companies shares had shot up significantly in the last year so he I believe he will be worth considerably more than that.of course when you are talking about business worth its all estimations and hypothetical. He doesn't actually have that money. I don't know how much of his assets would be considered liquid but I guess funding us is taking a huge chuck of that each month.Covered End said:On the bright side RD has now lost about 10% of his wealth on Charlton.
If I'm right, it was said he's worth £650M. He's so far £65M out of pocket.
Think on Roland, time to sell and quick.1 -
Agreed, but we won't make a profit, so his losses will only increase.killerandflash said:What a financial shambles.
It's worth remembering that these are the accounting losses, which aren't the same as the cash losses, but clearly the January/February acquisitions to try and keep us up cost a lot of money. I imagine the likes of Big Mak probably cost hefty loan fees too.
The 2016/17 numbers will benefit from the sales of a number of "home grown" players who would have had no "book" value, hence the sale proceeds will go straight to the bottom line.0 -
That's why to was quoting a price of £75m some months ago. That's what he "wants"palarsehater said:may be a little slow here so for roland to recuperate all he has put in he would be wanting 65 million?. and that would be the club out of any debt to him and completely owned the the new owner/owners?.
What he is likely to "get" is a lot less and that's was the problem.
The good news is that, if you believe the rumours, he's now shifted his position. he knows we're not going up so he has to either finance another year of losses or cut his losses and sell at a sensible price.1 -
No, Fox and Lookman will be added to the £6m referenced in the accounts, which makes about £15m.Chris_from_Sidcup said:
It won't as we've sold Gudmundsson, Cousins, Pope, Lookman and Fox for around 18mInspectorSands said:
It will be much more now, because most of the £4-5m in TV money will have gone, and season ticket sales have fallen through the floor. We just won't find out until next March.eaststandmike said:
Sadly this sums me us as well, my first thought when I saw the figure was "I wish it was more", sad times indeed.Greenie said:I never thought that the day would come that if my club lost £13.5M it would make me happy.
Well that day has come, and that, Rat Man is failure. I hope it hurts!
We cam more of less disregard transfer fees paid out and they will probably add a fee for Konsa either before or after year end.
But they managed an operating loss of £13.5m in the Championship with about £4m in central payments they won't get this year and I would think the club is another £1.5m down in matchday income this season, which is nearly all profit (little cost of sale). So they start at a potential operating loss of, say, £19m and then deduct from that figure whatever cost reductions they have made on the playing side. There will be another round of interest to Staprix to add, say £1.5m.
I would guess the debt to Staprix at June 30th, 2017, will be much the same as it was at June 30th, 2016, unless the club has been sold, and leaving aside the effect of any capex at the training ground. And it will be great deal worse at June 30th, 2018, because they don't have much more in the way of high value players to sell.5 -
Bitter twisted ex-employee who wouldn't be missed if he never set foot in the Valley again has his say on twitter.
Rick Everitt @airmanbrown
#cafc finally admit loss of £13.5m in 2015/16 - have sat on finalised accounts since last November to conceal numbers from supporters
£13.5m loss compares to £4m in 2014/15; Meire once again declares zero income in respect of #cafc
Figure of £623k described as "staff restructuring" in #cafc accounts - my best guess is this relates to paying off Luzon, Fraeye and Riga
Debt from #cafc to parent co Baton 2010 up to £55.6m - ex-directors loans revalued down to £6m for accounting purposes - total debt £61.7m.
Main message of accounts is that #cafc spent £5m more in 2015/16 and performed much worse as a business despite that.
Despite waffle about average operating losses elsewhere, #cafc loss is more than 100 per cent of turnover. Staggeringly useless management.14 -
A lot depends on how the 13.5m loss was made up, and whether the players are still on our books. I imagine we're still paying a fortune for our share of the wages of Sarr, Igor, and Ceballos, and Ba's wages and payoff will hit this year's books as well...Airman Brown said:
No, Fox and Lookman will be added to the £6m in the accounts, which makes about £15m.Chris_from_Sidcup said:
It won't as we've sold Gudmundsson, Cousins, Pope, Lookman and Fox for around 18mInspectorSands said:
It will be much more now, because most of the £4-5m in TV money will have gone, and season ticket sales have fallen through the floor. We just won't find out until next March.eaststandmike said:
Sadly this sums me us as well, my first thought when I saw the figure was "I wish it was more", sad times indeed.Greenie said:I never thought that the day would come that if my club lost £13.5M it would make me happy.
Well that day has come, and that, Rat Man is failure. I hope it hurts!
We cam more of less disregard transfer fees paid out and they will probably add a fee for Konsa either before or after year end.
But they managed an operating loss of £13.5m in the Championship with about £4m in central payments they won't get this year and I would think the club is another £1.5m down in matchday income this season, which is basically all profit. So they start at a loss of £19m and save whatever cost reduction they have made on the playing side.
There will be another round of interest to Staprix to add, say £1.5m.
I would guess the debt to Staprix at June 30th, 2017, will be much the same as it is as June 30th, 2016, unless the club has been sold. And it will be great deal worse at June 30th, 2018, because they won't have much more in the way of assets to sell any more.0 - Sponsored links:
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"These levels of losses are clearly unsustainable and will not be repeated"...................how many more "mistakes" are not going to be repeated then Pinocchio0
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And at the centre of this on a day to day basis of running the club. The nightmeire....
How she's in a job that's paying (I would guess) maybe £80k a year is beyond me.
There are people busting their guts out there doing a much better job in whatever they do, earning maybe one quarter of that3 -
Sorry, but I believe your very much mistaken. I've been reliably informed that the figure is closer to 1.5%.Covered End said:On the bright side RD has now lost about 10% of his wealth on Charlton.
If I'm right, it was said he's worth £650M. He's so far £65M out of pocket.
Think on Roland, time to sell and quick.
Quite clearly his wealth is at least £43,333,333,333* - aint that right, Katrien?
(* My maths is weak, I got that number by £65,000,000 * (100/1.5))2 -
Sadly I reckon £80k would be too low for her.cabbles said:And at the centre of this on a day to day basis of running the club. The nightmeire....
How she's in a job that's paying (I would guess) maybe £80k a year is beyond me.
There are people busting their guts out there doing a much better job in whatever they do, earning maybe one quarter of that
Not to mention, I dare say her expenses are quite high. On top of basic things such as travel, her conference sessions that she's used to attempt to build up her profile were most likely CAFC funded too.1 -
My understanding is that it isn't currently a loss for Roland as it is being managed as a loan to the club for which he is getting a very healthy return on his investment. I guess it will be a loss though if he sells for less than the value of the loans?2
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How comes it don't show up the £1m a month he apparently puts in?0
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£250k has been suggested to me, but I can't vouch for it. I doubt she'd still be there for £80k. Then again does it matter what RD pays her, if it's not in the Charlton books?cabbles said:And at the centre of this on a day to day basis of running the club. The nightmeire....
How she's in a job that's paying (I would guess) maybe £80k a year is beyond me.
There are people busting their guts out there doing a much better job in whatever they do, earning maybe one quarter of that0 -
And the old plonker thinks someone is gonna come and buy us for £65m
Hahahahahaha1 -
So next year about £8m loss or more.0
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May I be of any assistance, lads ?WSS said:
I'm sure there's a more pithy way of saying this but just can't work out how to phrase it.Henry Irving said:We lost £13.5m attempting to organise a night of alcoholic intoxication in a beer manufacturing establishment but without success.
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