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Title: Swindon make £1.7M loss Post by: STFC_Gazza on Friday, February 6, 2009, 09:28:54 Thought this was already released prior to the AGM... The part about Bill Power is the most important.
http://www.thisisswindontownfc.co.uk/news/headlines/4105534.Town_s___1_75million_loss/ Quote TOWN made a loss of £1.75million in 2007, newly-published accounts have revealed. [/b]The club’s operating loss stood at just over £2.2million, but they recouped more than £800,000 from player sales, which included the departure of teenage striker Lukas Jutkiewicz to Premiership giants Everton. Turnover increased from just over £3.1million in 2006 to more than £3.5million in 2007. The accounts also revealed that the company owed nearly £2.5million to Shaw Park Developments Ltd, a joint venture between developers St Modwen and Town's holding company to explore the possibility of a new stadium. The 50 per cent interest in Shaw Park Developments Ltd has since been transferred to Swindon Football Holding Ltd, the consortium headed up by current chairman Andrew Fitton. It was also revealed that former club owner Sir Seton Wills and son James provided an indemnity for the £1million claim against the club by former director Bill Power. Title: Re: Swindon make £1.7M loss Post by: Reg Smeeton on Friday, February 6, 2009, 10:33:43 St Modwen...now there's a name from the past.
I remember going to a shiny exhibition at the CG, where they had put on display the plans for the various developments they wanted around the whole CG site, and probably Shaw Tip. Good thing about a recession is it puts paid to wholly profit based exploitation like this. Title: Re: Swindon make £1.7M loss Post by: herthab on Friday, February 6, 2009, 10:35:54 2.5 million to 'explore' the possibility?
I'd have charged them half that. Title: Re: Swindon make £1.7M loss Post by: Summerof69 on Friday, February 6, 2009, 10:43:30 2.5 million to 'explore' the possibility? Of the idea that was in Mr Whippy's head? Title: Re: Swindon make £1.7M loss Post by: RobertT on Friday, February 6, 2009, 11:45:15 that's just window dressing, the loans were never spent on the ground development idea, which was drawn up by Mikes Printing company. The loans were used to prop up an ailing clubs cash problems and came as secured debt as I remember from the previous accounts (it's been in them for a few years).
Title: Re: Swindon make £1.7M loss Post by: Summerof69 on Friday, February 6, 2009, 12:33:10 Diamond Mike's financial engineering !!!
Title: Re: Swindon make £1.7M loss Post by: pauld on Friday, February 6, 2009, 12:53:20 Diamond Mike's financial engineering !!! Can't see that catching on as a chantTitle: Re: Swindon make £1.7M loss Post by: Reg Smeeton on Friday, February 6, 2009, 13:23:22 Can't see that catching on as a chant Not so sure...fits in very well to... we are Sturrock's red and white army..tune. Get a few loud mouth TEFers on the case and it might catch on. Title: Re: Swindon make £1.7M loss Post by: DV on Friday, February 6, 2009, 15:11:01 So, I think its fairly obviously we'll Cox for 1.75m in the summer!
Title: Re: Swindon make £1.7M loss Post by: herthab on Friday, February 6, 2009, 15:13:31 So, I think its fairly obviously we'll Cox for 1.75m in the summer! Oxford or Cambridge? Title: Re: Swindon make £1.7M loss Post by: Fred Elliot on Friday, February 6, 2009, 15:34:18 STROKE
:boat: Title: Re: Swindon make £1.7M loss Post by: flammableBen on Friday, February 6, 2009, 15:35:42 Oh no. Fred's had a stroke
Title: Re: Swindon make £1.7M loss Post by: Fred Elliot on Friday, February 6, 2009, 15:36:31 Had plenty Ben, not been to work for two days
Title: Re: Swindon make £1.7M loss Post by: Bushey Boy on Friday, February 6, 2009, 15:41:17 This was the accounts up to teh end of December 2007 remember, the club wont of lost that this year
Title: Re: Swindon make £1.7M loss Post by: Ironside on Friday, February 6, 2009, 17:53:17 Diamond Mike's financial engineering !!! Who's the worse "financial engineer": Mick the Bubble or Gordon "one eyed, scottish idiot" McBrooon? Title: Re: Swindon make £1.7M loss Post by: Phil_S on Tuesday, February 10, 2009, 10:47:59 Who's the worse "financial engineer": Mick the Bubble or Gordon "one eyed, scottish idiot" McBrooon? Now that is a toughie. Both have an over inflated opinion of them selves. Both are able to fool most of the people most of the time, till theirc deeds catch up with them. Both operate by using stealth, (smoke & mirrors), both have a history of fleecing the populace, both have a habit of money disapearing into a black hole. Title: Re: Swindon make £1.7M loss Post by: land_of_bo on Tuesday, February 10, 2009, 13:00:25 Now that is a toughie. Both have an over inflated opinion of them selves. Both are able to fool most of the people most of the time, till theirc deeds catch up with them. Both operate by using stealth, (smoke & mirrors), both have a history of fleecing the populace, both have a habit of money disapearing into a black hole. And both look like Baron Von Greenback. [url width=296 height=199]http://farm3.static.flickr.com/2254/2312630292_2b385e6eeb_o.jpg[/url] |