New beginnings - 25% Truth, 80% Bollocks

[Batch]

Also as Nemo has said - EFL are usually right on the case if players aren’t paid

As I understand it (i.e. not much) it's a self declaration of late payment, but there is a proper "prove it" audit at some point. I think there is a couple of days grace around payment before it is "late".

I can't look up the source of this right now, this is from memory.

[Sam Morshead]

As I understand it (i.e. not much) it's a self declaration of late payment, but there is a proper "prove it" audit at some point. I think there is a couple of days grace around payment before it is "late".

I can't look up the source of this right now, this is from memory.

52.6 in the regs
https://www.efl.com/governance/regulations/#heading-transfercompensation-fees-method-of-payment

[RobertT]

A "late payment" to Hatswell could be a possible source for Lane, either first or second or even third hand (I honestly do not know the extent to their relationship these days, or extended one).  A player could be a possible source for inside information, but would presume that would be several layers removed at best (any player would be at least second hand info of any ownership type dealings, you'd think).

[Batch]

Thanks Sam.

[Quagmire]

Fair Game due at 3pm.

[tans]

https://goalassist.co.uk/swindon-town-report-2023

[Bob's Orange]

Fair Game due at 3pm.

Fashionably late?

[theakston2k]

Just flicked through and appears absolutely pointless. Just puts some words around the figures in the accounts?

[Nemo]

I think there's some interesting breakdown in there on the income side, net transfer income for the past two years for example: we made £911k on sales (minus purchases) 22/23, 445k 21/22. Making £911k on sales and still losing £1m (before Eady) is pretty stark.

There's also a high level breakdown of the cost of sales:

Cost of sales 2023 2022
Football (3,269,676) (2,993,886)
Catering (477,877) (233,498)
Grants and fees payable (438,089) (249,000)
Shop / Retail (332,166) (330,860)
Marketing (51,263) (79,200)
Other (504) (50,224)

"Football" clearly includes a fair bit more than just wages, I think ground maintenance must be in there.

Also a less useful breakdown of admin expenses, which I see net transfer income has been taken off (not really sure how it's related at all!)

Admin expenses 2023 2022
Overheads (3,425,956) (2,763,666)
Net transfer income 911,750 445,000
Joint venture (1,150,000) -


I'd say this is broadly what I expected, a bit more detailed breakdown but fundamentally nobody is going to release a report saying "Zav took £500 in used bank notes out of the till on 1st Feb" (not that I'm suggesting he would do such a thing, but you get the example).

[STFC_Manc]

Ground maintenance would be included in general expenses, as it's not a cost of sale, as it's maintenance it would be a general expense.

[Nemo]

So presumably that would be in overheads. It would obviously be nice to know what "Football" involves as it's going to be more than just the first team wages - also playing staff, academy costs perhaps?

[Bob's Orange]

um, I hate to be negative, but this seems like a bit of waste of time. Happy to be told otherwise.

Also nice to see we've changed our name - In recent years, Swindona Town has embarked on a mission to strengthen its presence both on and off the pitch. The club remains committed to sustainable growth, investing in infrastructure and
facilities to ensure a bright future for generations of fans to come.

[Bogus Dave]

It’s farcical

[Bogus Dave]

Suprised fair game have been willing to put their name to it

[RobertT]

It's basically what I expected - which is better than the standard accounts, so lets give them that.  However, it is not an "independent analysis" by any stretch.  This is something the club could and should provide as it's basic minimum anyway - any competent person with a bit of financial literacy could pull this together given you only need to do it once per year.

It doesn't bring out anything meaningful beyond what we already could determine - although the breakdown of Revenue and costs is welcome, and could provide more use if continued over time.  Take for example the statement (not independent as they don't dig into it) of Clem having added 1.5m in loans.  Now go review the financial breakdown of the Balance Sheet - they do not square, not unless Clem paid himself back a similar amount.  The net position of long term debts remained fairly stable, growing by about 400k YoY.  The fact the debt to Axis increased, suggests two possibilities (could be more, but these two are most likely).  Either Clem paid himself some money back, then loaned a similar amount back via Axis, or he directly converted an existing Director Loan to Axis.  We can assume those two are most likely if we take Clem at his word that the debts were Director Loans unless otherwise stated in the previous accounts.  I'd like to think an Independent review would pick that out and try and pull the thread a little.  Very soft debt has migrated into being a little less soft.  Yes Clem owns both companies, but now he has a separate legal entity owning more debt, one linked to a business group that is under investigation for liquidation infringements, that itself could be exposed.

Anyone purporting to be driving sustainability in the football world would want to run that down.

interestingly, Goal Assist appear to have a single client/example of work, us.  Delivered via Fair Game, who are little more than a Pressure Group for EFL club chairman wanting more money from the EPL TV deals.

There is a throwaway line - they looked at the Assets, saw no change and got some basic commentary about what <100k was spent on.  It's another area that someone could dig into if truly independent and working for the fans - it's a line item that shows the club is not investing money in anything, not in terms of infrastructure.

Overall - someone at the club can just do this in future, it would be a positive step.  It wouldn't change anything underpinning the club though.  It's already a year in arrears, it doesn't unpick anything and it doesn't delve into some of the murkier dealings - not expecting answers, just acknowledgement that questions were asked and avoided.