The Spirit of '69 and our Day of Action

[Quagmire]

Great work chaps.

https://x.com/acklamjoe/status/1887766657621283141

[Bob's Orange]

Maybe it was paid to the Aussie plumber to cover the director’s loan for the next season.

The problem is our open & transparent ownership won’t confirm one way or another so we can only assume it’s because it’s not something easily explained

Nail on head. It may well be something and nothing, but the lack of any clarification is the reason why many fans believe its being used for nefarious means.

[4D]

Let's simplify things......

This is Guesstimates only
Income is around £6m
Players wages (£2.5m)
Non playing staff (£1m)
"Admin Exps" (£3.5m)
Loss of £1m

What on earth is costing £70k per week that isn't wages?  

There's gonna be police bills, catering costs and  merchandise costs. A breakdown would be good.

[horlock07]

Nail on head. It may well be something and nothing, but the lack of any clarification is the reason why many fans believe its being used for nefarious means.

This in a way is the crux of the problem, no one knows so something becomes nefarious in the eyes of many based upon nothing more evidenced than a simple line in the accounts.

What could possibly provide more meat on the bones would be to compare a) how it compares with the similar costs of other clubs, especially those who only produce abridged accounts and b) see how others costs have risen, considering where inflation has been a substantial uplift in the last years could be heavily driven by something little more suspicious than prices/costs going thorough the roof.

[STFC_Manc]

Have you guys missed Batch's explanation of the increase?

[tans]

He wanrs £12m for a club he paid 250k for according to the POF podcast

[Ƭ̵̬̊: The Artist Formerly Known as CWIG]

I don't understand the narative from the Trust and SO69 group around the losses that the club are making.  At c£1.5m I doubt this is out of line with the average loss in league 2, the problem always comes where the owner can no longer afford to fund a loss of that amount.

Whether Clem converts the loans to equity or takes a loss on a sale, I can't really see any difference between the two scenario's.  

If you look at Wrexham's last set of accounts to March 23, they made a loss of over £5m, with interest of over £400k payable on the loans.  If Clem was charging interest then I could understand the drive to convert to equity but he isn't.  Are Wrexham a badly run club? From a financial view it looks like it until you consider the increase in value from taking the club from the NL to L1 and maybe beyond.

Wrexham would be the last example I would give to compare us to as a normal football club.

[Ƭ̵̬̊: The Artist Formerly Known as CWIG]

I can’t speak on behalf of any other football clubs but as far as I can tell (and I’m not an expert of these things) one of our biggest losses is ‘admin expenses’

….is that the same for other clubs who operate at a loss?
Do their accounts show where the loss is? For other clubs would it be the fact they are trying to put together a competitive wage budget on small crowds, over extending themselves to get better players in - something we are clearly not doing?

Admin expenses and 'football expenses' I believe as well.

Reminds me of the chap in the office that just puts his job title as things he's good at on his appraisal  , you're a football club STFC. Could you be a little more specific?

[Ƭ̵̬̊: The Artist Formerly Known as CWIG]

This is why you should never be anywhere near anyone who still backs Clem in a capacity to turn them, you're a bully who only wants to fight and put them down, to you it is only ever "them and us" and I think you're more of a danger to the movement with your fight first instinct than most on the other side to be honest.

No, I just end up getting in to it with the likes of Wyeman and the real mentalists that are around. Only one way the conversation can go then.

[Ƭ̵̬̊: The Artist Formerly Known as CWIG]

I've just looked at the last 3 years of powers losses, £1.3-£1.8m so infact we are losing less than under powier?  

At no point was I comparing set ups, I was using them as an example of a well run club, who losses money.

Why does having debt above the value of the club mean its unsaleable.  My point was that if Clem decided to convert it to equity, what is the difference between taking a loss now, with at the point of a sale.

Had a better squad under Power and we still lost less to admin fees and other assorted siphoning of funds. Interesting.

And that was the cunt that was Lee Power.

[Nemo]

Had a better squad under Power and we still lost less to admin fees and other assorted siphoning of funds. Interesting.

And that was the cunt that was Lee Power.

To be absolutely fair to Clem and co, inflation since the Preston playoff final year is 35% on its own.

For me the problem isn't so much the losses/admin fees as the complete inability/disinterest in investing to make running at some sort of equilibrium more possible - there's no stock in the club shop, the facilities for matchday fans and corporates are awful and so on.

[STFC_Manc]

Had a better squad under Power and we still lost less to admin fees and other assorted siphoning of funds. Interesting.

And that was the cunt that was Lee Power.

How do you know we lost less to admin fees? Power gave zero Information.

[Ƭ̵̬̊: The Artist Formerly Known as CWIG]

I can’t tell you but if I was throwing out wild theories I’d say the increase was the ownership taking extra club money out under the guise of admin expenses to then put back into the club as director loans thus magically turning the clubs money into their own money whilst also playing the funding the club hero…

 

[Ƭ̵̬̊: The Artist Formerly Known as CWIG]

He wanrs £12m for a club he paid 250k for according to the POF podcast

But he was prepared to pay 5/6m for the club of course.

[Ƭ̵̬̊: The Artist Formerly Known as CWIG]

How do you know we lost less to admin fees? Power gave zero Information.

We lost less in total though. We all know admin fees could first with these kinds of owners.