|
|
horlock07
 Offline
Posts: 18782
Lives in Northern Bastard Outpost
|
 |
« Reply #1471 on: Thursday, December 22, 2022, 13:16:33 » |
|
|
|
|
|
|
Logged
|
|
|
|
|
|
|
|
RobertT
Offline
Posts: 12000
|
|
« Reply #1474 on: Thursday, July 13, 2023, 13:54:15 » |
|
It may even be a bit worse, on the ownership side at least. I'd presume the club (STFC) can make a good claim for ignorance when it comes to Standing being a potential owner - we'd likely say Power was owner, told us as much and all the paperwork said as much and that Standing simply gave us some cash. Power vs Standing on being owner could still be resolved in Standing's favour and us have a defence against any charge. More likely we run into trouble on the fact Standing was an agent. Although everything is clears as mud.
|
|
|
|
|
Logged
|
|
|
|
Bob's Orange
Has brain escape barriers
 Online
Posts: 29055
|
|
« Reply #1475 on: Thursday, July 13, 2023, 14:30:11 » |
|
It may even be a bit worse, on the ownership side at least. I'd presume the club (STFC) can make a good claim for ignorance when it comes to Standing being a potential owner - we'd likely say Power was owner, told us as much and all the paperwork said as much and that Standing simply gave us some cash. Power vs Standing on being owner could still be resolved in Standing's favour and us have a defence against any charge. More likely we run into trouble on the fact Standing was an agent. Although everything is clears as mud.
What is the likely punishment for the club if it's found that we broke rules when Standing was an agent when invested in the club? (allegedly) |
|
|
|
|
Logged
|
we've been to Aberdeen, we hate the Hibs, they make us spew up, so make some noise,
the gorgie boys, for Hearts in Europe.
|
|
|
Power to people
Offline
Posts: 6456
|
|
« Reply #1476 on: Thursday, July 13, 2023, 14:36:49 » |
|
What is the likely punishment for the club if it's found that we broke rules when Standing was an agent when invested in the club? (allegedly)
Clem was adamant it will be a fine and nothing more |
|
|
|
|
Logged
|
|
|
|
Bob's Orange
Has brain escape barriers
Online
Posts: 29055
|
|
« Reply #1477 on: Thursday, July 13, 2023, 14:38:07 » |
|
Clem was adamant it will be a fine and nothing more
Thanks - and IIRC we've got the potential money aside to cover that cost I think. It was stated in the AB minutes if I'm not mistaken. |
|
|
|
|
Logged
|
we've been to Aberdeen, we hate the Hibs, they make us spew up, so make some noise,
the gorgie boys, for Hearts in Europe.
|
|
|
Peter Venkman
Is totally unexceptional
Offline
Posts: 60861
Perfection is not attainable
|
|
« Reply #1478 on: Wednesday, September 6, 2023, 09:47:11 » |
|
Newport on the verge of a takeover, 2 bids have come in apparently. Newport recorded a financial loss of £1.2m last year and face a shortfall in their operational budget for the current season. https://www.bbc.com/sport/football/66471677 |
|
|
|
|
Logged
|
Well, we know where we're goin'
But we don't know where we've been
And we know what we're knowin'
But we can't say what we've seen
And we're not little children
And we know what we want
And the future is certain
Give us time to work it out
|
|
|
horlock07
Offline
Posts: 18782
Lives in Northern Bastard Outpost
|
|
« Reply #1479 on: Wednesday, September 6, 2023, 10:37:17 » |
|
If they are owned by the Supporters Trust one has to wonder who is funding these losses? |
|
|
|
|
Logged
|
|
|
|
JoeMezz
Offline
Posts: 2757
|
|
« Reply #1480 on: Wednesday, September 6, 2023, 11:01:48 » |
|
Thanks - and IIRC we've got the potential money aside to cover that cost I think. It was stated in the AB minutes if I'm not mistaken.
What percentage of shares will be sold for this fine? |
|
|
|
|
Logged
|
|
|
|
Peter Venkman
Is totally unexceptional
Offline
Posts: 60861
Perfection is not attainable
|
|
« Reply #1481 on: Wednesday, September 6, 2023, 11:25:41 » |
|
Talking of these losses I found a few of these for (then) L2 teams for the 21/22 season courtesy of Keiran Maguire.
Salford City lost £56,000 a week in 2021/22 but had cash in the bank at end of season due to share issues and owner loans. Total losses over the years now exceed £15 million
Colchester lost almost £2m in 2021/22, taking total losses to over £35m. The club is funded via owner loans of over £31m
Bradford Lost £299,000.
It cost the club £410,203 to play at Valley Parade during 21/22 season - this is just ground rent.
Playing budget was £3m in comparison to £2.7m for the 19/20 season. This season budget nearer £3.5m.
Leyton Orient lost £2.3m in 21/22.
Doncaster Rovers lost £1.07 million in 21/22 taking total losses to £33.6 million. Losses covered by owner share purchases.
Barrow lost £725k in 2021/22, their second season back in EFL League Two. Losses were underwritten by fresh share issue by owners.
Swindon Town gone from a £1.1m loss to a £158k profit.
Crewe made a profit of £153k in 2021/22.
AFC Wimbledon operating losses fell to £850k.
Thats the only ones I can find at the moment though.
|
|
|
|
|
Logged
|
Well, we know where we're goin'
But we don't know where we've been
And we know what we're knowin'
But we can't say what we've seen
And we're not little children
And we know what we want
And the future is certain
Give us time to work it out
|
|
|
RobertT
Offline
Posts: 12000
|
|
« Reply #1482 on: Wednesday, September 6, 2023, 11:37:22 » |
|
If they are owned by the Supporters Trust one has to wonder who is funding these losses?
Losses <> Cash Newport traded at a profit for four years before the one quoted and were carrying nearly 900k in the bank in 2021. That had been drained to nearly 400k at end of 2022 financial year though. The club does not carry any historical "hard" debt - so very few loans < 100k. They reacted to this loss by cutting costs significantly, aiming for a neutral budget in 2024 and confirmed access to funding and a payment arrangement with the Ground owners, which it seems most of any unpaid bills were sat. |
|
|
|
|
Logged
|
|
|
|
Ƭ̵̬̊: The Artist Formerly Known as CWIG
TOLD YOU SO
Offline
Posts: 6996
|
|
« Reply #1483 on: Wednesday, September 6, 2023, 12:30:42 » |
|
Swindon Town gone from a £1.1m loss to a £158k profit.
Gives us a good idea of how much Power was fleecing us all for on a yearly basis then. Must have been at least half a million quid a year to him and then more to his cronies. I can remember being told by a mate of a mate in the tap that I was paranoid and we had nothing to be worried about with Power. I do hope I run in to him soon and remind him of that conversation. |
|
|
|
|
Logged
|
|
|
|
JoeMezz
Offline
Posts: 2757
|
|
« Reply #1484 on: Wednesday, September 6, 2023, 12:51:47 » |
|
Talking of these losses I found a few of these for (then) L2 teams for the 21/22 season courtesy of Keiran Maguire.
Salford City lost £56,000 a week in 2021/22 but had cash in the bank at end of season due to share issues and owner loans. Total losses over the years now exceed £15 million
Colchester lost almost £2m in 2021/22, taking total losses to over £35m. The club is funded via owner loans of over £31m
Bradford Lost £299,000.
It cost the club £410,203 to play at Valley Parade during 21/22 season - this is just ground rent.
Playing budget was £3m in comparison to £2.7m for the 19/20 season. This season budget nearer £3.5m.
Leyton Orient lost £2.3m in 21/22.
Doncaster Rovers lost £1.07 million in 21/22 taking total losses to £33.6 million. Losses covered by owner share purchases.
Barrow lost £725k in 2021/22, their second season back in EFL League Two. Losses were underwritten by fresh share issue by owners.
Swindon Town gone from a £1.1m loss to a £158k profit.
Crewe made a profit of £153k in 2021/22.
AFC Wimbledon operating losses fell to £850k.
Thats the only ones I can find at the moment though.
Colchester... wow. |
|
|
|
|
Logged
|
|
|
|
|
