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Post by sin my opinionn on Jun 12, 2011 8:42:22 GMT -1
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Post by ironrook on Jun 12, 2011 9:17:38 GMT -1
Sorry to sound completely ignorant but could somebody translate these into English?
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Post by grassbanker on Jun 12, 2011 13:37:32 GMT -1
As we are intending to give the budget figures for next season, it would make sense to publish the up to date accounts like Farnborough have done.
They do need some explanation, which Farnborough have given. Whether that explanation is good enough Farnborough fans must decide.
At least then if people want to comment it is on the basis of known facts, and not rumours. I think all clubs should do this every year to show they are running to a reasonable financial plan.
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Post by sin my opinionn on Jun 12, 2011 13:47:26 GMT -1
In simple terms, in the year to June 2010:
1. Their income was £536,000 and costs £659,000 so they made a loss of £123,000 2. Their assets are £758,000 and liabilities £1.33m 3. They made nearly 3x as much income from the bar as they did from the turnstile 4. Wage bill £372,000 (nearly 3 x income at the gate)
In conclusion they are losing money, insolvent and dependent on loans of £725,000 from the directors.
Not dissimilar to Lewes in the Elliott era in fact.
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Post by ironrook on Jun 12, 2011 18:12:36 GMT -1
Thanks Sin my opinionn- that's a big help. This all looks pretty bleak for them doesn't it?
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Post by eastie on Jun 12, 2011 18:24:54 GMT -1
That wage bill seems rather high , is that just players or does it include management as well? 18 players on £600 a game is only approx £200,000, surely they weren't on more than that? That leaves £172,000 of which some would be managements wages and loan players but £372,000 does seem a bit high to me especially when you only recoup a third of it with gate money
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Post by ironrook on Jun 12, 2011 19:27:53 GMT -1
How are the finances at 'Borough Eastie? Will you cope with BSS drops in revenue easily enough?
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Post by sin my opinionn on Jun 12, 2011 20:00:38 GMT -1
That wage bill seems rather high , is that just players or does it include management as well? 18 players on £600 a game is only approx £200,000, surely they weren't on more than that? That leaves £172,000 of which some would be managements wages and loan players but £372,000 does seem a bit high to me especially when you only recoup a third of it with gate money The wages figure does include bar staff, admin etc, however it's serious money however you look at it (the NLP today alleged one of their players was looking for £1100 per week to stay) As you say Ironrook, it doesn't look great, however the figures are a year old/out of date. I can't work out what is happening really, having reached the play off final the manager has gone and every player is leaving. On the other hand they are going full time and they were rumoured to be buying a 3,000 seat capacity stand offered for sale by Darlington. Ma of it what you will, but to be fair to them it was a bold move to put all the information on their website.
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Post by eastie on Jun 13, 2011 3:44:53 GMT -1
How are the finances at 'Borough Eastie? Will you cope with BSS drops in revenue easily enough? Borough never go in the red. The Chairman sticks to the budget and has done since we started in the 70's
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ianwfc
Ryman One South
President - "Friends of Lewes FC"
Posts: 196
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Post by ianwfc on Jun 13, 2011 6:00:04 GMT -1
Wow. So allowing for non football staff at say 50k, that's a weekly wage bill of EIGHT THOUSAND POUNDS a week!
1. How did King NOT walk the league on that sort of money? 2. And how much must he love Lewes to take such a (presumably) huge pay cut?
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Post by brettlee666 on Jun 13, 2011 8:41:07 GMT -1
Bit of a head scratcher indeed
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Post by crawleyboy1 on Jun 13, 2011 19:04:08 GMT -1
It's a no brainer. Just like rushden, these numbers mean nothing. theres been no mention of the wages being taken/by from boro directors or the large expenses of several senior staff. There were outside interests in catering. At most clubs, this is a big earner. Eastbourne will get back to the top as they are well run. The rest of us will watch you lot with much interest Good luck...
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