Response About Finances
#1 Guest_mikethespire_*
Posted 02 March 2015 - 08:57 PM
I have to say it terrifies me.
"The club SHOULD be in the black?"
Should? After the year we have had it better be and at this point they really should know if there is a chance it wont be.
"The debt has been reduced to some extent following the sale of Eoin Doyle."
So did the cooper sale..the 7000 home average and cup run not reduce the debt at all? If not then in an average season we can expect to have to sell 3 or 4 good players to break even?
Chris stated that financial controls are now in place in all departments. This is something which has not happened in the past.
Well that explains a lot. It is also unbelievable that a business could operate this way.
All I can say is if I went to the owner of my business and used that kind of language in a meeting I would expect to visiting the hospital afterwards to have his boot removed from my ass.
#2 Guest_mikethespire_*
Posted 02 March 2015 - 09:20 PM
This post has been edited by mikethespire: 02 March 2015 - 09:21 PM
#3
Posted 02 March 2015 - 10:04 PM
mikethespire, on 02 March 2015 - 09:20 PM, said:
I don't go in for all the plusses and minuses but if I did I would redress the balance for you.
I am shocked that financial controls have only just been put in place across all departments. Forget the fact that we are talking about a football club, with all the emotion etc that brings.
This is a business with a sizeable turnover. How on earth has it taken until now for that decision to be made?
#4
Posted 02 March 2015 - 10:06 PM
This sort of language is a lot more worrying than no mothers day meals!
#5
Posted 02 March 2015 - 10:12 PM
Cartman, on 02 March 2015 - 10:06 PM, said:
This sort of language is a lot more worrying than no mothers day meals!
I'd say a P&L specifically designed for that particular part of the club, every month perhaps?
Also agree that its strange that nothing was in place prior to this across all divisions of the business.
I'm no expert but surely the presence of an experienced FD would be highly beneficial to the club
#6 Guest_mikethespire_*
Posted 02 March 2015 - 10:19 PM
Not one of you made a comment to explain why you disagree with what were in effect just quotes from the minutes.
#7
Posted 02 March 2015 - 10:24 PM
mikethespire, on 02 March 2015 - 10:19 PM, said:
Not one of you made a comment to explain why you disagree with what were in effect just quotes from the minutes.
Calm down Mike its only a few reds. Dished out on this forum all day every day
This post has been edited by BodieUK: 02 March 2015 - 10:27 PM
#8
Posted 03 March 2015 - 08:04 AM
mikethespire, on 02 March 2015 - 10:19 PM, said:
Not one of you made a comment to explain why you disagree with what were in effect just quotes from the minutes.
I would rather read positive statements about learning from mistakes rather than negative comments whingeing about what went wrong. The man who never makes a mistake never does anything. If mistakes do continue however, then they are open to deserved critisism.
#9
Posted 03 March 2015 - 08:09 AM
mikethespire, on 02 March 2015 - 10:19 PM, said:
Not one of you made a comment to explain why you disagree with what were in effect just quotes from the minutes.
Once people whinge about getting a red they're obviously going to get more.
#10
Posted 03 March 2015 - 08:18 AM
mikethespire, on 02 March 2015 - 08:57 PM, said:
Chris stated that financial controls are now in place in all departments. This is something which has not happened in the past.
Well that explains a lot. It is also unbelievable that a business could operate this way.
All I can say is if I went to the owner of my business and used that kind of language in a meeting I would expect to visiting the hospital afterwards to have his boot removed from my ass.
Well I'm shocked not!! The bloke didn't even know what the playing budget was at the start of the season. How this club is not in the black is beyond me, could a club our size be any more sucessful in the recent past and is still losing money.
#11
Posted 03 March 2015 - 08:35 AM
mikethespire, on 02 March 2015 - 08:57 PM, said:
I have to say it terrifies me.
"The club SHOULD be in the black?"
Should? After the year we have had it better be and at this point they really should know if there is a chance it wont be.
[b]
depends if they are planning to spend any profit on investments. Perhaps Freelander can tell us?.
#12
Posted 03 March 2015 - 08:35 AM
Duckys Moved, on 03 March 2015 - 08:18 AM, said:
Tell me where in the minutes it says that we are not in the black.....
I understand the statement doesn't fill supporters with full certainty but it is a "positive" statement nevertheless
#13
Posted 03 March 2015 - 08:44 AM
If we have sold Doyle and Cooper, had a cup run, averaged 7,000 and STILL made a loss we are in some serious trouble and heads need to roll at the top for that as we can't rely on selling players for good amounts or getting a good cup draw every year to just break even.
#14
Posted 03 March 2015 - 08:48 AM
#15
Posted 03 March 2015 - 09:01 AM
JonB, on 03 March 2015 - 08:48 AM, said:
You say that like it wouldn't be completely deserved.
#16
Posted 03 March 2015 - 10:34 AM
mikethespire, on 02 March 2015 - 08:57 PM, said:
I have to say it terrifies me.
"The club SHOULD be in the black?"
Should? After the year we have had it better be and at this point they really should know if there is a chance it wont be.
"The debt has been reduced to some extent following the sale of Eoin Doyle."
So did the cooper sale..the 7000 home average and cup run not reduce the debt at all? If not then in an average season we can expect to have to sell 3 or 4 good players to break even?
Chris stated that financial controls are now in place in all departments. This is something which has not happened in the past.
Well that explains a lot. It is also unbelievable that a business could operate this way.
All I can say is if I went to the owner of my business and used that kind of language in a meeting I would expect to visiting the hospital afterwards to have his boot removed from my ass.
Coopers fee was staged payments I understand so it will have a bearing on which financial year they appear, DA told us not to worry about the debt so we have to let em get on with it.
The annual accounts will be massaged to show a steady reduction of the debt I would hope as we continue to bring in the 'young and hungry' players to develop and continue the income stream.
Mersey Paradise, on 03 March 2015 - 08:44 AM, said:
If we have sold Doyle and Cooper, had a cup run, averaged 7,000 and STILL made a loss we are in some serious trouble and heads need to roll at the top for that as we can't rely on selling players for good amounts or getting a good cup draw every year to just break even.
Have we averaged the 7k magical figure ?
#17
Posted 03 March 2015 - 10:35 AM
Dave In Footie Heaven, on 03 March 2015 - 10:33 AM, said:
The annual accounts will be massaged to show a steady reduction of the debt I would hope as we continue to bring in the 'young and hungry' players to develop and continue the income stream.
I thought someone on he said that the whole amount of cash you receive is credited to the accounts when the initial deal is done, and not when you actually receive the cash.
#18
Posted 03 March 2015 - 11:03 AM
#19
Posted 03 March 2015 - 11:29 AM
JonB, on 03 March 2015 - 08:48 AM, said:
You make it sound like he needs to double check his figures!
You live & breathe this type of data & with two thirds of the current financial year gone, it shouldn't be too difficult to have a reasonable understanding of what the full year will look like.
This post has been edited by freelander2: 03 March 2015 - 12:17 PM