New beginnings - 25% Truth, 80% Bollocks

[JanAirplaneMan]

Anyone think Clem would bale once the JV is finalised, take a profit and let someone else redevelop.

No he wont.. in it for the long haul..

[Nemo]

Maybe the club needs a new admin volunteer to take the socials login after 10pm

Just seen the Tweets to which (I think) you're referring... yes, not quite the use the club account should be put to that.

[JoeMezz]

This is all way blown over the top. Club announced that they were offering a chance for young people to gain experience at the start of their career (imagine as a young Swindon fan having the opportunity to gain experience while watching your favourite team for free and meeting the players etc). People slag it off and club media defends it (says the messaging was wrong - it was messaged poorly but the intent was fine). People slag that off. People want engagement and responses (e.g. when nothing was announced when discussions were in for Lindsey) and then they don’t think it’s right when they do respond. Do people just love a moan?

[tans]

Accounts released

www.bit.ly/3kEvU8v

[Nemo]

https://www.swindontownfc.co.uk/news/2023/february/swindon-town-release-accounts-for-the-202122-financial-year/?fbclid=IwAR3Z6Jy1QalYaZnBt7ZCJSGwLuVvxgSHhvsCoG5PtQFbmtsdqplFD77usrc

https://www.swindontownfc.co.uk/siteassets/2022-23/documents/final-accounts-signed-21.22.pdf

Detailed overview of the accounts for 2021/22 financial year (to the end of May 22), which covers the last two months of Power and the first ten months of Clem, including the Manchester City game. The key thing to remember is because of the general delay in publishing accounts, things like debt figures will be *way* behind the updates we get in the Advisory Board meetings.

Will have a flick through and see if anything interesting in there, but mostly just good to see this sort of thing put up.

Headlines are the club making a small profit (£150k) in the period on a turnover of £6.4m, debts down to £4.3m (although we know those are much lower now in reality)

Much further down, we owe interest free director's loans to Clem personally of £2.6m and Axis (his investment vehicle) of £1.6m - he's said before that he doesn't expect to get those back, but that probably represents something like how much he has personally put in. Not cheap owning a football club, and you don't get much back for it!

[Bob's Orange]

Without the FA Cup run last season we'd have made a loss.

But that said - it's fantastic to see that we've gone from turning a £1,138,000 loss into a £160,000 profit. I doubt there are many football clubs in England turning a profit at the moment. (a statement said without any research whatsoever)

[ChalkyWhiteIsGod]

Without the FA Cup run last season we'd have made a loss.

Suspect that we might then make a small loss this season? Going forwards though, rent will be down by 50% which should help with the sustainability.

[Bob's Orange]

Suspect that we might then make a small loss this season? Going forwards though, rent will be down by 50% which should help with the sustainability.

Yeah, I mean I don't know how much the FA Cup run made us but the only 'bonus' money I can think of might be the World Cup money for Jonny Williams but that was under 100k so probably doesn't really touch the sides.

The income from the fans must be similar to last season, I guess a touch up because of the additional 'merch' in the club shop but the numbers through the door are similar. I assume our budget is larger this season as we're not under the embargo anymore? Obviously other costs like heating and lighting will have gone through the roof.

We're moving in the right direction but it does show we aren't 'loaded'

[Riddick]

We're moving in the right direction but it does show we aren't 'loaded'

Exactly, which is why its for the fans to back the club and drive it forward.

It does also make you wonder how most clubs at this level function at all given their attendances.

[ChalkyWhiteIsGod]

Yeah, I mean I don't know how much the FA Cup run made us but the only 'bonus' money I can think of might be the World Cup money for Jonny Williams but that was under 100k so probably doesn't really touch the sides.

The income from the fans must be similar to last season, I guess a touch up because of the additional 'merch' in the club shop but the numbers through the door are similar. I assume our budget is larger this season as we're not under the embargo anymore? Obviously other costs like heating and lighting will have gone through the roof.

We're moving in the right direction but it does show we aren't 'loaded'

Think they were saying the Man City game was worth somewhere from £200k to £300k.

Forgot about the Williams World Cup money. You'd definitely expect that to help take the edge off.

I'd like to see us ditch Puma and get a better deal on merch. I think there are lesser known brands out there that would give us a better deal and fans will buy anyway. A name brand isn't as appealing as it once was, as lower league clubs seem to have had plenty, including us. Perhaps a certain Sustainability Officer could even help with that.

[Bob's Orange]

Think they were saying the Man City game was worth somewhere from £200k to £300k.

Forgot about the Williams World Cup money. You'd definitely expect that to help take the edge off.

I'd like to see us ditch Puma and get a better deal on merch. I think there are lesser known brands out there that would give us a better deal and fans will buy anyway. A name brand isn't as appealing as it once was, as lower league clubs seem to have had plenty, including us. Perhaps a certain Sustainability Officer could even help with that.

I was going to say, I'd imagine there will be some Hylo gear in the club shop next season. I like the fact that it's kind of unique in football terms.

[derbystfc]

Does the accounts (haven't gone through them yet) account for compensation for out ex managers/head coach??

[Nemo]

Does the accounts (haven't gone through them yet) account for compensation for out ex managers/head coach??

There's nothing like that level of detail - and nor would there be in a usual set of accounts like this. We're talking it largely being at the "income" and "outgoings" level, rather than an itemised list - as much as we'd all love to comb through that!

[The Artist Formerly Known as Audrey]

These accounts only go up to the first 10 months of Clem’s tenure - so Garner was still at the club.

[Bogus Dave]

Is great that clem has put his money in and converted the short term debt to effectively long term debt (assuming this is what the ‘other borrowing’ consists of’) but would be risky to think this isn’t money he wouldn’t want back at some point, interest free or no. He’d be more than entitled to it too, of course