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Thomas to lose £20m this season

eaststandmike
eaststandmike Posts: 14,956
in General Charlton
https://www.bbc.co.uk/sport/football/54994484

Not seen it on here but if it is can admin please close thread.
«13

Comments

  • Huskaris
    Huskaris Posts: 9,857
    8 years until European football?

    Sandgaard out. 
  • Chizz
    Chizz Posts: 28,347
    Zynex market capitalisation increased by roughly $200m this year. 
  • Rob7Lee
    Rob7Lee Posts: 9,609
    He's spending it all on fancy cars and bread isn't he......

    Seriously, £20m is a hefty amount, surprised it is that high to be honest but don't know the minute detail of it all but it does seem high, especially as so far not really spent any cash on players (fee's) but have received some incoming which must be net £3m+ ? And wages will be down compared to usual with the player wage cap and the staff on Furlough.
  • KBslittlesis
    KBslittlesis Posts: 8,649
    Didn’t he actually say between 10-20 million?
    Still a shed load but I think on a par with many others during these unprecedented time’s isn’t it?
  • Dave2l
    Dave2l Posts: 8,880
    edited November 2020
    He is smart and has the required experience.

    He owns the club, was prepared for it and would have been aware of all of this.

    It's not really our problem or our concern.

    He knows what he's doing and I hope for his sake he will eventually make an overall deserved large profit. It will be great. He can prove that doing things the right considerate and respectful way is what will make you successful.

    For now, it's obviously not going to happen, but he can take it.

    He is not Roland. His problem is not our problem.

    He is not a crybaby.

    He can afford these initial cut backs and debts.

    He's fighting to get us back to the top and make us successful.

    No point in this thread.
  • PeakieRocket
    PeakieRocket Posts: 2,421
    I wonder if he's just getting this message out as a warning to PE, as to what he'd be taking on if did ever get control of the club
  • Rob7Lee
    Rob7Lee Posts: 9,609
    Think good old RD got it down to 0.5m operating loss a month in League 1. I doubt we are much worse off (excluding Covid) than that what with the salary cap, so maybe it is in the region now with Covid of £1m a month operating so some of that will be offset by sales, fingers crossed he only loses single digit millions! Still a big 'ouch' though.
  • Chris_from_Sidcup
    Chris_from_Sidcup Posts: 36,084
    edited November 2020
    Not sure how he can lose 20m with a 2.5m salary cap.

    I know youngsters are not included in that and others like Amos and Williams are on more money but allowed as they resigned before the cap deadline, but even if we said the squad and staff total wage bill was 7m, what's the other 13m going on?

    And although there's no fans at games, we still have some income. Sponsorships, incoming transfer fees, people buying Valley Passes, football kits etc. 
  • Comeonyoureds
    Comeonyoureds Posts: 175
    I guess it depends on the definition of loss. It can be both actual loss (expenditure greater than revenue) or loss of potential earnings or an accounting loss.

    The £20m most likely includes transaction fees for the sale of the club, and legal fees for the ongoing dispute with Elliott. But it might also include potential revenue streams that are not achievable in the current climate.

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  • MattF
    MattF Posts: 3,797
    Could also include any planned work he feels need doing ASAP
  • Stig
    Stig Posts: 29,076
    That's just the tip of the iceberg though. Imagine what those figures are like when Farnell and Elliott's loses are factored in!
  • mendonca
    mendonca Posts: 9,417
    I very much doubt that Thomas will analyse Charlton's accounts, while smiling at the value of a Zynex's outstanding shares. Just a personal thought. 
  • golfaddick
    golfaddick Posts: 33,715
    I think its in reply to today's announcement that Government help for sport wont be available to the top 4 divisions. He was on BBC news at 1 (wearing a CAFC top) and as a pp said, just pointing our to Elliott that if he really wants to own us be prepared for Very BIG loses.
  • heckington_reds
    heckington_reds Posts: 727
    Chris_from_Sidcup said:
    Not sure how he can lose 20m with a 2.5m salary cap.

    I know youngsters are not included in that and others like Amos and Williams are on more money but allowed as they resigned before the cap deadline, but even if we said the squad and staff total wage bill was 7m, what's the other 13m going on?

    And although there's no fans at games, we still have some income. Sponsorships, incoming transfer fees, people buying Valley Passes, football kits etc. 
    Rent for sparrows and the valley?
  • ross1
    ross1 Posts: 51,032
    £12m he has put in the bank to cover costs plus £1m tax bill
  • eaststandmike
    eaststandmike Posts: 14,956
    Stig said:
    That's just the tip of the iceberg though. Imagine what those figures are like when Farnell and Elliott's loses are factored in!
    £20m and £1.00
  • ElliotCAFC
    ElliotCAFC Posts: 2,553


    This may have already been posted but how great does it feel to have an owner who cares.
  • killerandflash
    killerandflash Posts: 69,953
    I'm slightly suspicious of the £10m to £20m range as it's so wide. It's hard to believe that depending on what happens this season, we could lose an extra £10m in one scenario over another.

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  • ForeverAddickted
    ForeverAddickted Posts: 94,715
    RodneyCharltonTrotta said:
    ElliotCAFC said:


    This may have already been posted but how great does it feel to have an owner who cares.

    Reassuring to know that I can now tell the missus that with that cushion we have the same living room design as a multi millionaire.
    Is Tommy doing a Nimer then and that Staircase background etc. is just wallpaper? ;)
  • Off_it
    Off_it Posts: 28,902
    Well, Freshfields aren't cheap.
  • Airman Brown
    Airman Brown Posts: 15,749
    edited November 2020
    Rob7Lee said:
    Think good old RD got it down to 0.5m operating loss a month in League 1. I doubt we are much worse off (excluding Covid) than that what with the salary cap, so maybe it is in the region now with Covid of £1m a month operating so some of that will be offset by sales, fingers crossed he only loses single digit millions! Still a big 'ouch' though.
    The accounts say otherwise. The operating loss was well over £10m in both 2018 and 2019. I think it’s unlikely the club will lose £20m in 20/21 because of reduced costs as well as revenue, but we know what it lost in L1 under RD because we have the accounts. We don’t have to rely on the nonsense spouted by Roland’s puppets.
  • Rob7Lee
    Rob7Lee Posts: 9,609
    Airman Brown said:
    Rob7Lee said:
    Think good old RD got it down to 0.5m operating loss a month in League 1. I doubt we are much worse off (excluding Covid) than that what with the salary cap, so maybe it is in the region now with Covid of £1m a month operating so some of that will be offset by sales, fingers crossed he only loses single digit millions! Still a big 'ouch' though.
    The accounts say otherwise. The operating loss was well over £10m in both 2018 and 2019. I think it’s unlikely the club will lose £20m in 20/21 because of reduced costs as well as revenue, but we know what it lost in L1 under RD because we have the accounts. We don’t have to rely on the nonsense spouted by Roland’s puppets.
    Depends which page/report you read, on the Baton accounts the fools managed to state "The profit for the year, after taxation, amounted to £10.442m (2018  -£10.447m). £1.28m was interest on group loans so a paper money swap in reality and a small sum for rent, again intra group

    From memory there was also post balance sheet sales around £4m+ 
  • i_b_b_o_r_g
    i_b_b_o_r_g Posts: 18,948
    Reckon Elliott dodged a bullet with hid £500k. You'd think he'd shut up and f*ck off
  • SantaClaus
    SantaClaus Posts: 7,673
    edited November 2020
    .
  • cabbles
    cabbles Posts: 15,261
    I imagine a large part of the strategy will be to make more money or achieve better commercial terms for when we sell young talent.  Gomez being the best example of how incompetent Roland’s regime was when it came to selling young talent.  

    I know Corona could impact prices in the short term, but I wouldn’t be surprised to see the likes of Alfie Doughty go for £5m + if he continues to impress.  I fully expect to see a much more robust player sales value(s) in the future.

  • Airman Brown
    Airman Brown Posts: 15,749
    Rob7Lee said:
    Airman Brown said:
    Rob7Lee said:
    Think good old RD got it down to 0.5m operating loss a month in League 1. I doubt we are much worse off (excluding Covid) than that what with the salary cap, so maybe it is in the region now with Covid of £1m a month operating so some of that will be offset by sales, fingers crossed he only loses single digit millions! Still a big 'ouch' though.
    The accounts say otherwise. The operating loss was well over £10m in both 2018 and 2019. I think it’s unlikely the club will lose £20m in 20/21 because of reduced costs as well as revenue, but we know what it lost in L1 under RD because we have the accounts. We don’t have to rely on the nonsense spouted by Roland’s puppets.
    Depends which page/report you read, on the Baton accounts the fools managed to state "The profit for the year, after taxation, amounted to £10.442m (2018  -£10.447m). £1.28m was interest on group loans so a paper money swap in reality and a small sum for rent, again intra group

    From memory there was also post balance sheet sales around £4m+ 
    The operating loss in the accounts is quoted before interest charges (and obviously before player trading).  The bottom line loss was £10m in each accounting year. You can look at this in various ways - the actual funding requirement for example - but no matter how you box it up it’s hard to see how the numbers support the idea that “RD got it down to 0.5m operating loss a month in League 1”. The operating losses reported equate to almost £1m a month in 2019 and well over £1m in 2018.
  • mendonca
    mendonca Posts: 9,417
    Thank you TS, once again. No idea where we would be at the moment if he didn't come along. Seriously, what situation do you think the club would currently be facing was that the case?
  • Rob7Lee
    Rob7Lee Posts: 9,609
    Airman Brown said:
    Rob7Lee said:
    Airman Brown said:
    Rob7Lee said:
    Think good old RD got it down to 0.5m operating loss a month in League 1. I doubt we are much worse off (excluding Covid) than that what with the salary cap, so maybe it is in the region now with Covid of £1m a month operating so some of that will be offset by sales, fingers crossed he only loses single digit millions! Still a big 'ouch' though.
    The accounts say otherwise. The operating loss was well over £10m in both 2018 and 2019. I think it’s unlikely the club will lose £20m in 20/21 because of reduced costs as well as revenue, but we know what it lost in L1 under RD because we have the accounts. We don’t have to rely on the nonsense spouted by Roland’s puppets.
    Depends which page/report you read, on the Baton accounts the fools managed to state "The profit for the year, after taxation, amounted to £10.442m (2018  -£10.447m). £1.28m was interest on group loans so a paper money swap in reality and a small sum for rent, again intra group

    From memory there was also post balance sheet sales around £4m+ 
    The operating loss in the accounts is quoted before interest charges (and obviously before player trading).  The bottom line loss was £10m in each accounting year. You can look at this in various ways - the actual funding requirement for example - but no matter how you box it up it’s hard to see how the numbers support the idea that “RD got it down to 0.5m operating loss a month in League 1”. The operating losses reported equate to almost £1m a month in 2019 and well over £1m in 2018.

    By operating loss I mean what did he have to put in during the accounting period as that ultimately is what the owner has lost to run the club for the year and ultimately what we are talking about here. So unless i've missed something glaringly obvious I read it as;

    End of previous year there was £360k in the bank.
    Loan from Parent during the year of £5.694m
    Cash in bank at end of this period £482k

    So the paper cash input required was around £5.4m, but remember £1.2m he pays back to himself in interest, so net net was £4.232m that he physically had to write a cheque for, the rest is all paper, accounting and noise. 

    Just to add, I wouldn't personally include it in the above but the accounts also quote £4.2m received post balance sheet production and £221k spent, so basically if i'm right above the old codger is saying bar about £200k he broke even!

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