Charlton announce £13.5m loss
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Unluckyyyyyyy0
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No, you have previous! ; - )Fanny Fanackapan said:
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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Blimey, I thought £80k was too low - but if there's any credibility behind the 250k figure then that's disgusting.Airman Brown said:
£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 that5 -
He should sell for £18m and forget the other debt.Anyone who takes over is set to lose more then £12m a year.1
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Leaving do in a hotel Fanny?Fanny Fanackapan said:
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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We know that wages and on costs were £14m in 2015/16 (excluding the £623k exceptional cost of staff restructuring, most of which probably went to departing managers). Can't see that number dropping much below £9m based on players we've retained/added/paid-off/sold. More likely £10-£11m.killerandflash said:
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 -
Remember this is profit/loss rather than cash.
Would be interested to know how the accounting works for players. They are an asset that presumably depreciates, so the profit we make on a player sale doesn't necessarily correlate to the cash received.
A loss isn't always a bad thing for owners/shareholders, as it could be used to offset taxable profits elsewhere in the group.
I've not seen the accounts yet so can't comment but it appears a shambles regardless.0 -
Airman Brown said:
£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 that
Well, it's no wonder she clings on so desperately to a job that she is hopeless at and gives her nothing but grief. She's not getting that money anywhere else given the total and abject failure at Charlton that stains her CV.
Truly, stealing a living.11 -
Purchased players are treated as depreciatable assets, from what I can recall (not home grown ones)The Organiser said:Remember this is profit/loss rather than cash.
Would be interested to know how the accounting works for players. They are an asset that presumably depreciates, so the profit we make on a player sale doesn't necessarily correlate to the cash received.
A loss isn't always a bad thing for owners/shareholders, as it could be used to offset taxable profits elsewhere in the group.
I've not seen the accounts yet so can't comment but it appears a shambles regardless.
You buy a player for £1m and give him a 5 year contract, so they're worth 1m in the books, amortised over 5 years
After a year that player is now worth 800k. If you sell him for £2m, that's a £1.2m book profit, if you sell him for 200k, that's a 600k loss.6 -
My understanding is that it does if they weren't signed for a fee, so Gomez, Cousins, Lookman, Fox and even Gudmundsson receipts drop straight through to the bottom line. Fees are amortised over the life of a contract, so if we sign x for £1m on a four year contract and sell him after two years for £2m the profit will be shown as £1.5m. If we sell him for £2m after four years (obviously he'd be out of contract, but assuming he'd signed an extension) the profit is £2m.The Organiser said:Remember this is profit/loss rather than cash.
Would be interested to know how the accounting works for players. They are an asset that presumably depreciates, so the profit we make on a player sale doesn't necessarily correlate to the cash received.
A loss isn't always a bad thing for owners/shareholders, as it could be used to offset taxable profits elsewhere in the group.
I've not seen the accounts yet so can't comment but it appears a shambles regardless.5 - Sponsored links:
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Another season without a boiler then.45
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Oh I don't know, I expect the vol au vent queen will still be in attendance. Plenty of hot air and all that.alan dugdale said:Another season without a boiler then.
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Unfortunately not. What he's spent on Charlton, by my calculations, is less than he gets by way of dividend from Melexis. He's still getting richer but at a slower rate.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.0 -
Well i have lost an estimated £60 betting on Charlton this year. I put this down to being a twat who never learns... just saying you daft Belgian @$€%×1
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JustFuckOff pageLoOkOuT said:Should we start a JustGiving page?
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It looks to me as the accounts are being managed to make a big loss this year and then show much better results the following year which are more current and any buyer would be more interested in as they are more up to date. Sounds like we are for sale, I would be doing the same if I was the owner0
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Any buyer will look mainly at the operating loss (as well as liabilities and the value of the fixed assets), I would think. That doesn't include player trading and shows the underlying health of the business. There will be a big drop in turnover in 2016/17 of at least £5m, which given we only had £12m in 2015/16 isn't going to look good.barstool said:It looks to me as the accounts are being managed to make a big loss this year and then show much better results the following year which are more current and any buyer would be more interested in as they are more up to date. Sounds like we are for sale, I would be doing the same if I was the owner
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How does this put us in relation to FFP?2
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Unlikely if, as I assume, the accounts are audited by a reputable auditor. This info should be in the financial statements.barstool said:It looks to me as the accounts are being managed to make a big loss this year and then show much better results the following year which are more current and any buyer would be more interested in as they are more up to date. Sounds like we are for sale, I would be doing the same if I was the owner
Not impossible of course as they are only audited to a 'true and fair view'.0 -
Report says we are fine with FFPRoss said:How does this put us in relation to FFP?
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@barstool Out of interest (as you clearly know more on this stuff than me mate), what examples can you give from the accounts to expand on that point?barstool said:It looks to me as the accounts are being managed to make a big loss this year and then show much better results the following year which are more current and any buyer would be more interested in as they are more up to date. Sounds like we are for sale, I would be doing the same if I was the owner
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Henry Irving said:
Report says we are fine with FFPRoss said:How does this put us in relation to FFP?
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Notice the sales of Pope, Lookman, et all were not included in this, but will be included in the 2016-17 totals. Add those in and Roland might actually have a PROFIT in 2016-17.
Also, it is meant to artificially prop up how we look financially to a buyer. Although in 17-18 with no one valuable left to sell, the floor is about to fall out.1 -
Cabbles - I will wager she's on a lot more than £80k a year.....this is the real travesty.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 -
For those kinda happy he lost a million per month.... how do we know he just didn't add that loss to the debt total and give himself 3% interest on it? Edit... I think he actually did exactly that.
RD just doesn't not understand that no team outside the PL makes a profit. His JOB is to lose money, not whine over0 -
What are the worse losses in the club history??0
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Wow - I appreciate it's not on the cafc books but it wrangles that there are so many people out there doing far, far better than her at their respective jobs, earning so much less.Airman Brown said:
£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 that
It's actually criminal when you consider how much of a fuck up she's made2 -
But the 16-17 accounts won't be drawn up until after June 2017 and not audited until at least 3 months after that.
You can produce management accounts and pro-forms financial statements before then but they are basically not very reliable.
And anyway, it is trend on normal net income/loss before player sales and acquisitions that I think you would start from.4 -
After this, I now believe RD is desperate to sell. The hangup will be by the buyer more than RD.
Leeds, who might get promoted to the PL this season are a bigger club, with average 27,000 attendance and much higher turnover.
Apparently it sold the other month for something like £40M equity and the assumption of £27M in debt for a total enterprise value of £67M.
That seems fair.
So how can RD ask for the payoff of £65M in debt and even £1 in equity at all? Much less £75M on top of the assumption of debt? An enterprise value 2x Leeds? LOL.
If Leeds is worth £67M on the cusp of the PL, we can't be worth any more than £30M while in a relegation fight in League One. Maybe less.
I don't see RD selling for a 55% haircut on his investment and I don't see a company like Red Bull overpaying. I am almost frightened by who would overpay for such a club, frankly.
Either it will be someone worse than RD or someone so rich that losses don't scare them at all.4 -
These figures will look great on Katrein's CV , I wonder how much worse the figures would be if she did not have Richard Murray advising her4