Club accounts

[Frankie Burrows Cap]

The financial statements are now available on the Companies House website.

What hit me was how bizarrely downbeat the whole document is. No stated ambition other than staying in the championship and becoming more self sustaining. Lots about how difficult that is. Lots about player contracts including relegation clauses.
Nothing really about commercial aspirations. No mention of Snoop etc. Downbeat on academy. ‘remains under review’ rather than aiming for Category 1 status. Nothing on aspirations for stadium purchase. Very very odd.

Has the reality hit for the owners that it's far more difficult to tread water financially than they thought, let alone make money/get promoted from the Championship?

I guess this summer will tell us quite a bit about their hopes and ambitions for the short/medium term.

 

[Londonlisa2001]

Has the reality hit for the owners that it's far more difficult to tread water financially than they thought, let alone make money/get promoted from the Championship?

I guess this summer will tell us quite a bit about their hopes and ambitions for the short/medium term.

I added the following to my previous post:

“ Edited to add: this doesn’t mean that this stuff isn’t being planned for, it is just very odd that no mention is made. It may just be that the Americans are less used to being transparent in a set of financial statements. Which they will need to come to terms with to be honest. We’ll see.”

The ‘we’ll see’ bit is exactly your final point. It’s extremely strange. You’d think at least they’d have mentioned the whole celebrity investor stuff.

 

[Cooperman]

The financial statements are now available on the Companies House website.

What hit me was how bizarrely downbeat the whole document is. No stated ambition other than staying in the championship and becoming more self sustaining. Lots about how difficult that is. Lots about player contracts including relegation clauses.
Nothing really about commercial aspirations. No mention of Snoop etc. Downbeat on academy. ‘remains under review’ rather than aiming for Category 1 status. Nothing on aspirations for stadium purchase. Very very odd.

Edited to add: this doesn’t mean that this stuff isn’t being planned for, it is just very odd that no mention is made. It may just be that the Americans are less used to being transparent in a set of financial statements. Which they will need to come to terms with to be honest. We’ll see.

350 staff across football operations, admin, commercial and media. This doesn’t sound very lean.

 

[Mamaswan]

I added the following to my previous post:

“ Edited to add: this doesn’t mean that this stuff isn’t being planned for, it is just very odd that no mention is made. It may just be that the Americans are less used to being transparent in a set of financial statements. Which they will need to come to terms with to be honest. We’ll see.”

The ‘we’ll see’ bit is exactly your final point. It’s extremely strange. You’d think at least they’d have mentioned the whole celebrity investor stuff.

Aren't those accounts for the Pre Snoop era? Sorry if this is a stupid question. Its coming from a stupid person.

 

[Cooperman]

Aren't those accounts for the Pre Snoop era? Sorry if this is a stupid question. Its coming from a stupid person.

Yes, the accounts are pre Snoop era but there is still an opportunity to highlight future strategic initiatives. The lack of reference to Snoop makes me wonder what tangible benefit we have seen from his involvement.

 

[Mamaswan]

Yes, the accounts are pre Snoop era but there is still an opportunity to highlight future strategic initiatives. The lack of reference to Snoop makes me wonder what tangible benefit we have seen from his involvement.

I see thanks Cooperman

Hopefully feature in the next set covering the current season .

 

[Cooperman]

I see thanks Coopermen

Hopefully feature in the next set covering the current season .

I hope so as well as the commercial revenue was appalling.

 

[Longlostjack]

350 staff across football operations, admin, commercial and media. This doesn’t sound very lean.

SC Freiburg ca. 220 staff and they’re in the semi-final of the Europa League. Held up in Germany as a lean machine and very well run club.

 

[Londonlisa2001]

Aren't those accounts for the Pre Snoop era? Sorry if this is a stupid question. Its coming from a stupid person.

They are yes. But a company discloses any material (significant) changes that have happened between year end and the date of signing the accounts.

In certain circumstances they adjust their accounts (known as a post balance sheet event) but in general they sing any positive changes from the rooftops in the strategic section at the front of the statements.

These accounts are just strangely downbeat.

Anyone interested should have a read of the front section of Wrexham’s financial statements on companies house as a comparison.

 

[Mamaswan]

They are yes. But a company discloses any material (significant) changes that have happened between year end and the date of signing the accounts.

In certain circumstances they adjust their accounts (known as a post balance sheet event) but in general they sing any positive changes from the rooftops in the strategic section at the front of the statements.

These accounts are just strangely downbeat.

Anyone interested should have a read of the front section of Wrexham’s financial statements on companies house as a comparison.

Thanks Lisa.