[Nitrous Oxide]

Better get the buckets ready.

[hilly81]

Rest In Peace CFC. Try to enjoy it while it lasts. Beginning of the end.

[DIFH]

Maverick, on 24 October 2016 - 07:04 PM, said:

Exactly, and that on gates of 6k. Divide £2m by 23 home games, divide again by an average ticket price/match day spend of £20, gives you the number of extra fans we need at every game just to break even....4300 by my calcs. Then add that to the current average of 6000 and you reach that interesting figure of 10300 (the stadium capacity). Meaning the club needs to sell out every game, including the away allocation just to beak even.

Might as well shut the club down now!

Are there any transfer sales from this financial year that have been spent.

[h again]

Spire-Heights, on 24 October 2016 - 06:57 PM, said:

Very worrying. Without player sales, a 2m loss.

Unless of course some of the money from player sales was used to reduce the debt - 70% of it should have been according to the word from on high.
As usual the reaction here is long on whinge and short on thought. Like WHERE is all that money going? Last time it could only have been on inflated payments to players - surely we can't have fallen into that particular trap again. But assuming DA took his 70%, that leaves round about 600 grand which should have gone on the playing side. Reduced to 50 grand profit? Nah, doesn't stack up at all - perhaps the full accounts will clear it up, but I'm not holding my breath.

[60s 70s Spireite]

Wonder how much SEB, Martnez and paying Saunders off has cost us? Can't wait to see what really has contributed to these disastrous results. Cos that's what they are.

[60s 70s Spireite]

h again, on 24 October 2016 - 07:19 PM, said:

Unless of course some of the money from player sales was used to reduce the debt - 70% of it should have been according to the word from on high.
As usual the reaction here is long on whinge and short on thought. Like WHERE is all that money going? Last time it could only have been on inflated payments to players - surely we can't have fallen into that particular trap again. But assuming DA took his 70%, that leaves round about 600 grand which should have gone on the playing side. Reduced to 50 grand profit? Nah, doesn't stack up at all - perhaps the full accounts will clear it up, but I'm not holding my breath.

For readers who don't understand accounts, repayment of debt doesn't come off profit. Only the interest. We have lost £2M before the sale of players. However it's looked at.

[moondog]

60s 70s Spireite, on 24 October 2016 - 07:21 PM, said:

Wonder how much SEB, Martnez and paying Saunders off has cost us? Can't wait to see what really has contributed to these disastrous results. Cos that's what they are.

I hope we are told

[RikShaw]

h again, on 24 October 2016 - 07:19 PM, said:

Unless of course some of the money from player sales was used to reduce the debt - 70% of it should have been according to the word from on high.
As usual the reaction here is long on whinge and short on thought. Like WHERE is all that money going? Last time it could only have been on inflated payments to players - surely we can't have fallen into that particular trap again. But assuming DA took his 70%, that leaves round about 600 grand which should have gone on the playing side. Reduced to 50 grand profit? Nah, doesn't stack up at all - perhaps the full accounts will clear it up, but I'm not holding my breath.

If I'm understanding correctly what Carson said, then the transfer monies received were used to offset the decline in season ticket sales and general gate money income, he made no mention of the debt reduction, which if there was any 'good news' to report on that, I'm sure he'd be keen to share, but he didn't so I suspect it remains as is. Guess their strategy for this year is hope to God that someone stumps up £2m+ for Ched in January.

[Westbars Spireite]

moondog, on 24 October 2016 - 06:56 PM, said:

I take it as read we've only serviced it (paid the annual interest due)

I'm no accountant but it cannot be any less can it?

[60s 70s Spireite]

Maverick, on 24 October 2016 - 07:29 PM, said:

If I'm understanding correctly what Carson said, then the transfer monies received were used to offset the decline in season ticket sales and general gate money income, he made no mention of the debt reduction, which if there was any 'good news' to report on that, I'm sure he'd be keen to share, but he didn't so I suspect it remains as is. Guess their strategy for this year is hope to God that someone stumps up £2m+ for Ched in January.

You can't repay much debt out of £42k profit.

[Westbars Spireite]

h again, on 24 October 2016 - 07:19 PM, said:

Unless of course some of the money from player sales was used to reduce the debt - 70% of it should have been according to the word from on high.
As usual the reaction here is long on whinge and short on thought. Like WHERE is all that money going? Last time it could only have been on inflated payments to players - surely we can't have fallen into that particular trap again. But assuming DA took his 70%, that leaves round about 600 grand which should have gone on the playing side. Reduced to 50 grand profit? Nah, doesn't stack up at all - perhaps the full accounts will clear it up, but I'm not holding my breath.

You're also not an accountant but seem to understand this less than I do.

How can that be so?

[RikShaw]

60s 70s Spireite, on 24 October 2016 - 07:33 PM, said:

You can't repay much debt out of £42k profit.

Think you might need to point this out to 'h', again

[moondog]

Westbars Spireite, on 24 October 2016 - 07:32 PM, said:

I'm no accountant but it cannot be any less can it?

Not really as 60s 70's explains, a bit of a mad comment for Allen to say 70% of player sales would go towards clearing the debt when costs were never under control

[Paul Fisher]

60s 70s Spireite, on 24 October 2016 - 07:33 PM, said:

You can't repay much debt out of £42k profit.

So it's another season where CFC don't earn enough profit to pay the interest on the loan from A&S in other words. No wonder they can't afford to out anything on for the fans for the birthday celebrations. Still, a holiday in Portugal was nice.

[moondog]

Darcy Sarto, on 24 October 2016 - 07:43 PM, said:

So it's another season where CFC don't earn enough profit to pay the interest on the loan from A&S in other words. No wonder they can't afford to out anything on for the fans for the birthday celebrations. Still, a holiday in Portugal was nice.

No it seems the annual interest has been paid, but nothing off the capital

[DIFH]

Darcy Sarto, on 24 October 2016 - 07:43 PM, said:

So it's another season where CFC don't earn enough profit to pay the interest on the loan from A&S in other words. No wonder they can't afford to out anything on for the fans for the birthday celebrations. Still, a holiday in Portugal was nice.

If there is no embarrassment will the shareholders be told how much and where commissions were paid.

Nitrous Oxide, on 24 October 2016 - 07:12 PM, said:

Better get the buckets ready.

Buckets are no good now the site has hit the fan.

[fishini]

Know nothing about accounting but did the club not pay the council £1m this year.

[essexspireman]

Dave In Footie Heaven, on 24 October 2016 - 07:51 PM, said:

If there is no embarrassment will the shareholders be told how much and where commissions were paid.


Buckets are no good now the site has hit the fan.

well if the interest on the debt is 5% as has been mentioned on here (can anybody confirm?), that is a lot more than you would get at the bank. I guess the interest would be paid before anything else and if DA wanted to reduce the debt he could by reducing the salary bill.

[RikShaw]

fishini, on 24 October 2016 - 07:54 PM, said:

Know nothing about accounting but did the club not pay the council £1m this year.

Not quite, the debt to the council was settled by transferring it DA, who now has first call on the stadium and a heathly rate of interest.

[Snowflake McBedwetter]

fishini, on 24 October 2016 - 07:54 PM, said:

Know nothing about accounting but did the club not pay the council £1m this year.

No.

Uncle Dave kindly took on the debt, that CBC were receiving 4% on. For a 5% skim of his own.