Watson Oh The Bar! Scanlon Yes! Posted November 20, 2021 Share Posted November 20, 2021 2 hours ago, slippers said: Would be interstate to hear this too as the club told us they covered the 10m shortfall and we still lost 5m. 5m loss reduced to 2.2m loss through player sales. and then approx 2m of new share money or equity which doesn’t go through the Profit and Loss. That, at a very high level is your 10m. between that and the insurance payout which will appear in next years results, it’s actually a decent position, and certainly stronger than June 2020 when there was a great deal of uncertainty still. looks like it’s been well managed, in my opinion. Link to comment
Watson Oh The Bar! Scanlon Yes! Posted November 20, 2021 Share Posted November 20, 2021 5 minutes ago, aberdeen1970 said: Why is the McKenna money not included? He's been gone for over a year. It is included. I didn’t explain it very well. that money sits below the £5m Operating loss on the Profit and Loss statement, refunding the £5.2m operating loss to a £2.2m loss before interest and tax. Link to comment
slippers Posted November 20, 2021 Share Posted November 20, 2021 30 minutes ago, Watson Oh The Bar! Scanlon Yes! said: It is included. I didn’t explain it very well. that money sits below the £5m Operating loss on the Profit and Loss statement, refunding the £5.2m operating loss to a £2.2m loss before interest and tax. Why would the club not declare a 2.2m loss and emphasises the fact there will be 2.25m insurance repayment in next season books. Seen to have opened us up for criticism when in actual fact we are sitting pretty nicely. Appreciate you explaining. Link to comment
thurso Posted November 20, 2021 Share Posted November 20, 2021 3 minutes ago, slippers said: Why would the club not declare a 2.2m loss and emphasises the fact there will be 2.25m insurance repayment in next season books. Seen to have opened us up for criticism when in actual fact we are sitting pretty nicely. Appreciate you explaining. Because the glasgow media could of explained it that way but decided not to. then try and make us look as bad as the arse cheeks who lost £23 million and £10 million Link to comment
Watson Oh The Bar! Scanlon Yes! Posted November 20, 2021 Share Posted November 20, 2021 4 minutes ago, slippers said: Why would the club not declare a 2.2m loss and emphasises the fact there will be 2.25m insurance repayment in next season books. Seen to have opened us up for criticism when in actual fact we are sitting pretty nicely. Appreciate you explaining. A lot of it is just down to how they have to lay out the financial statements owing to accounting rules and company law. Operating profit/loss is normally where most financial comments both in and out of football will be focused. It's as good as any measure of financial health in an established business. You raise a fair point that if we were to realise the ambition of selling nuggets of home grown talent from time to time, then the £2.2m loss line is to highlight as to ongoing health or viability. That's where a fitba club might be a bit different from the majority of other businesses. Link to comment
slippers Posted November 20, 2021 Share Posted November 20, 2021 2 minutes ago, Watson Oh The Bar! Scanlon Yes! said: A lot of it is just down to how they have to lay out the financial statements owing to accounting rules and company law. Operating profit/loss is normally where most financial comments both in and out of football will be focused. It's as good as any measure of financial health in an established business. You raise a fair point that if we were to realise the ambition of selling nuggets of home grown talent from time to time, then the £2.2m loss line is to highlight as to ongoing health or viability. That's where a fitba club might be a bit different from the majority of other businesses. Always good to hear from someone that knows what it means. It’s easy to look at the top figure and think that it’s terrible. I just assumed the 5m included the sale of players for example. Link to comment
Watson Oh The Bar! Scanlon Yes! Posted November 20, 2021 Share Posted November 20, 2021 9 minutes ago, thurso said: Because the glasgow media could of explained it that way but decided not to. then try and make us look as bad as the arse cheeks who lost £23 million and £10 million There is a bit of that too. The sheepshaggurz are in bother so they are byrraywaybigmanbut.... To be fair, I think the ranjurz accounts came under a fair bit of scrutiny from those in the press who might be generally seen as nirmally favourable to them. Link to comment
aberdeen1970 Posted November 20, 2021 Share Posted November 20, 2021 1 hour ago, Watson Oh The Bar! Scanlon Yes! said: It is included. I didn’t explain it very well. that money sits below the £5m Operating loss on the Profit and Loss statement, refunding the £5.2m operating loss to a £2.2m loss before interest and tax. Gotcha. Cheers min Could have been worse all things considered. A Ferguson sale will fill that gap Link to comment
Zander1903 Posted November 20, 2021 Share Posted November 20, 2021 there's gonna be clubs in a worse state than us, Davies sofa has more loose change in it to cover that losses Link to comment
RAZOR Posted November 20, 2021 Share Posted November 20, 2021 36 minutes ago, Zander1903 said: there's gonna be clubs in a worse state than us, Davies sofa has more loose change in it to cover that losses Aye the Huns looks alot worse Hearts churned out a 2m profit but were gifted a heap of dough. Link to comment
starryfish Posted November 23, 2021 Share Posted November 23, 2021 Did anyone work out how much it cost us to pay off the previous management team? Link to comment
fine-n-dandy Posted November 23, 2021 Share Posted November 23, 2021 13 minutes ago, starryfish said: Did anyone work out how much it cost us to pay off the previous management team? A fk load more than the £1m or so we could have scammed out of Sunderland but not Huns as they clearly tried to sneak him into n the back door. Link to comment
Watson Oh The Bar! Scanlon Yes! Posted November 23, 2021 Share Posted November 23, 2021 2 hours ago, starryfish said: Did anyone work out how much it cost us to pay off the previous management team? Sadly, Its not possible to assess that from the annual report. 1 Link to comment
Itsagoal Posted November 24, 2021 Share Posted November 24, 2021 11 hours ago, starryfish said: Did anyone work out how much it cost us to pay off the previous management team? It may not have been a lump sum payment. It may have been structured in a way that the club continues to honour its contractual obligations to the previous management, ie, they’re still getting paid. Link to comment
starryfish Posted November 24, 2021 Share Posted November 24, 2021 2 hours ago, Itsagoal said: It may not have been a lump sum payment. It may have been structured in a way that the club continues to honour its contractual obligations to the previous management, ie, they’re still getting paid. Were they on one year rolling contracts? Could be on the books until March then. Link to comment
Granite95 Posted November 24, 2021 Share Posted November 24, 2021 2 hours ago, Itsagoal said: It may not have been a lump sum payment. It may have been structured in a way that the club continues to honour its contractual obligations to the previous management, ie, they’re still getting paid. I believe for a lot of clubs when they sack a manager they continue to pay them until such a time they either get a new job or the contract would've rann out, so essentially gardening leave. So if that;s the case for us we are paying McInnes and Docherty until next summer? Link to comment
Guest milne_afc Posted November 24, 2021 Share Posted November 24, 2021 1 minute ago, Granite95 said: So if that;s the case for us we are paying McInnes and Docherty until next summer? If the hun is on gardening leave he should have been refused entry on Glasser’s first home game. Link to comment
Iraq_Red Posted November 24, 2021 Share Posted November 24, 2021 1 hour ago, Granite95 said: I believe for a lot of clubs when they sack a manager they continue to pay them until such a time they either get a new job or the contract would've rann out, so essentially gardening leave. So if that;s the case for us we are paying McInnes and Docherty until next summer? Similar to this, I'm sure I read that Spurs have 4 managers all contracted until 2023! Link to comment
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