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Post by Lakeland Potter on Jun 21, 2013 5:31:52 GMT
Good news methinks! Well done Denise and the rest of the family - and, of course, the staff. Bet 365 profits upAlthough, you can see by Stoke City's losses (up to £30 million) why something of a "new direction" was called for.  |
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Post by fca47 on Jun 21, 2013 6:34:28 GMT
No wonder JC can afford his big new house.
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Post by apb1 on Jun 21, 2013 7:09:03 GMT
The most shocking thing about that article is that they actually seem to pay corporation tax in the UK. What kind of dinosaurs are running that business?
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Post by FullerMagic on Jun 21, 2013 7:10:04 GMT
Blimey - losses up from £5m to £31m.
And wage bill up to £60m!
Ouch.
Has Denise pulled up the financial drawbridge?
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tayterz
Academy Starlet
Me Owd Tayter...
Posts: 161
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Post by tayterz on Jun 21, 2013 7:23:33 GMT
Blimey - losses up from £5m to £31m. And wage bill up to £60m! Ouch. Has Denise pulled up the financial drawbridge? Now we know why we will be quiet in the transfer market this summer, it is very likely Mr Hughes will have been given similarity instructions to TP to generate cash by moving some players on prior to buying. |
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Post by Lakeland Potter on Jun 21, 2013 7:34:19 GMT
The most shocking thing about that article is that they actually seem to pay corporation tax in the UK. What kind of dinosaurs are running that business? Yes, if they carry on like this, it may soon be Dame Denise Coates - Dame being the female equivalent of Sir. |
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Post by stockportstokie on Jun 21, 2013 7:35:58 GMT
With this news can we get off our high horse now? The hypocrisy every time Citeh & Chelsea have been derided has been astonishing, we may not be on that level but the point stands. Fortunately a proportion of the spend will pay for itself in time hopefully. One thing is for sure, the transfer approach of the last 5 years has to change.
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Post by cobhamstokey on Jun 21, 2013 7:53:21 GMT
Well done Denise.
The problem of course Is if We stop spending and get relegated then we might lose all the profits that the PL brings in by just being in it.
its a very difficult balance to get right.
I think cutting spending completely will be suicide and Im sure they know that but I'm sure they'll get it right.
I''ll be very interesting to see after this season what sort of losses Southampton, Villa, Cardiff and West Ham will make with the way they seem to be going for it.
Hopefully the release of Whitehead, Owen, Mama, Delap, Upson etc will make a nice dent in the wage bill and we can release some of the more expensive luxuries to free up some cash for some young, hungry, cheap players. Exciting times ahead.
It looks like we can forget the likes of Wanyama at 10m but Redmond at 2m is a must and that there'll be more NZonzis, GCams and Begos and less Crouch's. Makes very good sense. One things for sure we really need to start utilising the foreign market and bringing players on.
It really is very obvious why TP had to go.
I guess the next job now is to try to shift the older expensive players like Crouch, Matty, Edu, Nash, Whelan and Walters and replace them with the likes of Redmond, Hoillett, Cornellius, Altidore, Murphy.
When you look at our club were in a good position players wise and with sol the players leaving it's already nicely trimmed the problem of course is how to get rid of a very well paid 32 year old or an injury prone winger now where's Arry :0)
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Post by Lakeland Potter on Jun 21, 2013 8:04:17 GMT
The problem of course Is if We stop spending and get relegated then we might lose all the profits that the PL brings its a very difficult balance to get right. I think cutting spending completely will be suicide but I'm sure they'll get it right. That said the PL will give us a bigger reward for just being in it. I''ll be very interesting to see after this season what sort of losses Southampton, Villa, Cardiff and West Ham will make with the way they seem to be going for it. Hopefully the release of Whitehead, Owen, Mama, Delap, Upson etc will make a nice dent in the wage bill and we can release some of the more expensive luxuries to free up some cash for some young, hungry, cheap players. Exciting times ahead. It looks like we can forget the likes of Wanyama at 10m but Redmond at 2m is a must. I've always thought that the biggest disadvantage of players like Crouch is not the fee we have to pay for them but the wages they command. Comparative unknowns (when they came to England) like Michu, Benteke and Odemwingie were not just cheaper to buy but they (at least for the first few years) commanded much lower wages. And it is wages which, ultimately, have the biggest effect on profit and loss for many clubs in our peer group. |
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Post by f1rew0rks on Jun 21, 2013 8:06:27 GMT
The figures mentioned are from a different planet to what we mortals can comprehend. Fair play to them for staying in the UK (Stoke in particular) and paying their taxes. As mentioned in the article and as is on the news constantly, many avoid those taxes by moving abroad.
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Post by swampmongrel on Jun 21, 2013 9:39:27 GMT
Good news methinks! Well done Denise and the rest of the family - and, of course, the staff. Bet 365 profits upAlthough, you can see by Stoke City's losses (up to £30 million) why something of a "new direction" was called for. The losses number doesn't seem right to me. www.guardian.co.uk/football/2013/apr/18/premier-league-finances-club-by-club 'Loss before tax: £10m (following £6m loss in 2011)'Of course, this is for 11/12 but looking at how the club has been run up to now (and our business last season) I find the most recent information in the Guardian difficult to believe. |
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Post by foster on Jun 21, 2013 9:47:40 GMT
Can someone shed some light on these losses. I'm not convinced.
Even if it were so, if we keep spending the same this season then we should at least break even with the additional TV money coming in.
Breaking even shouldn't be hard providing we spend 10m or less on transfers (taking into account player sales revenue) and keep the wage bill the same by shipping out deadwood (which we have already done).
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Post by Lakeland Potter on Jun 21, 2013 9:50:55 GMT
Could the losses figure be the CUMULATIVE losses figure since we got to the Prem?
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Post by foster on Jun 21, 2013 9:55:44 GMT
Could the losses figure be the CUMULATIVE losses figure since we got to the Prem? Definitely sounds more accurate. I can't see how we can go from being around 6m down per season to going 30m down when we're apparently making efforts to becoming self sufficient. |
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Post by TheWiseMaster on Jun 21, 2013 9:55:48 GMT
The most shocking thing about that article is that they actually seem to pay corporation tax in the UK. What kind of dinosaurs are running that business? What a pathetic comment - Bet365 believe in paying their way unlike their competitors in Gibralter and the arseholes at Google Amazon and Apple. Lets hope the Gibralter tax dodgers and their ilk get dumped asap  |
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Post by Deleted on Jun 21, 2013 9:57:47 GMT
The most shocking thing about that article is that they actually seem to pay corporation tax in the UK. What kind of dinosaurs are running that business? What a pathetic comment - Bet365 believe in paying their way unlike their competitors in Gibralter and the arseholes at Google Amazon and Apple. Lets hope the Gibralter tax dodgers and their ilk get dumped asap I'm not entirely convinced that he wasn't taking the piss. In fact I'd say I'm entirely convinced he was taking the piss. |
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Post by TheWiseMaster on Jun 21, 2013 9:58:55 GMT
Good news methinks! Well done Denise and the rest of the family - and, of course, the staff. Bet 365 profits upAlthough, you can see by Stoke City's losses (up to £30 million) why something of a "new direction" was called for. Have you seen SCFC's accounts John? More likely that the group are writing off earlier loans than the loss has been incurred in the current year - makes sense when they have those high profits due to tax |
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Post by swampmongrel on Jun 21, 2013 10:03:20 GMT
Could the losses figure be the CUMULATIVE losses figure since we got to the Prem? Could be. It looks like very sloppy reporting to me. Comparing apples and oranges I think. Perhaps a twitterer could ask him for clarification. twitter.com/sbowers00 |
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Post by liathroid on Jun 21, 2013 10:13:57 GMT
dont forget the 430million in cash reserves on the balance sheet (whistle)spend ,spend ,spend  |
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Post by TheWiseMaster on Jun 21, 2013 10:14:59 GMT
What a pathetic comment - Bet365 believe in paying their way unlike their competitors in Gibralter and the arseholes at Google Amazon and Apple. Lets hope the Gibralter tax dodgers and their ilk get dumped asap I'm not entirely convinced that he wasn't taking the piss. In fact I'd say I'm entirely convinced he was taking the piss. You may be right in which case he should have used a  Unfortunately there are plenty of city people who think just like that! |
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Post by itsajoytobeapotter on Jun 21, 2013 10:16:22 GMT
With a wage bill of £60 million the losses of £30m for year sound about right. You also have to write of transfer fees over the life of the contract so because we keep buying and making no sales that write off continues to go up. Now you know why Pulis left!
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Post by thebet365 on Jun 21, 2013 10:20:23 GMT
That loss could be any number of reasons.
Due to the high profits they could have taken the opportunity to re-evaluate the playing squad values, For e,g they may have written off Palacious & Crouch altogether knowing we're likely to get minimal cash back for them.
I'd imagine the 30 Mill includes a few 1 off exceptional write offs.
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Post by swampmongrel on Jun 21, 2013 10:42:51 GMT
With a wage bill of £60 million the losses of £30m for year sound about right. You also hav e to write of transfer fees over the life of the contract so because we keep buying and making no sales that write off continues to go up. Now you know why Pulis left! Turnover is around 70 million. Add the wages to other operating costs and a reasonable guess for player ammortisation (can't be more than 25m) I'd be surprised if the annual losses are more than 10m. |
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Post by Old School Stokie on Jun 21, 2013 10:59:34 GMT
I agree with the view of writing down assets, but that is good business sense. I bet they have'nt written up assets like Begovich though.
cashflow v profits & lossses are apples and pears.
Interesting to see the other week a cumulative £81 million spent NET on transfers over 10 years was it? Will Prem league/TV money just pay the wages though
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Post by Staying up for Grandadstokey on Jun 21, 2013 11:01:07 GMT
The most shocking thing about that article is that they actually seem to pay corporation tax in the UK. What kind of dinosaurs are running that business? Yes, if they carry on like this, it may soon be Dame Denise Coates - Dame being the female equivalent of Sir. If she has the same political allegiance as her dad , she may have to wait a while. |
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Post by Deleted on Jun 21, 2013 11:13:37 GMT
Well done Denise. The things that stand out for me are:
1. Huge jump in losses at Stoke (but as itsajoytobeapotter said there will be further writedowns against that);
2. Huge jump in wages
3. Profits of £148M from over £20Bn of wagers, thats a very small profit margin
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Post by Deleted on Jun 21, 2013 11:22:33 GMT
well done Bet365!
i actually saw someone come out of an internet cafe the other day with a huge smile on his face so i asked him what had happened...he explained that he'd just won a major amount based on the number of long balls in a game. he went on to thank the Coates family as they'd been triffic apparently
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Post by hollybush on Jun 21, 2013 11:38:06 GMT
Yes, if they carry on like this, it may soon be Dame Denise Coates - Dame being the female equivalent of Sir. If she has the same political allegiance as her dad , she may have to wait a while. Leaders of all parties, plus others, can submit potential honours candidates, so it shouldn't make any difference which party is in power. I don't remember Tony Robinson being a staunch Tory. |
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Post by digger on Jun 21, 2013 11:47:00 GMT
Don't BET365 use stoke as a tax write off
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Post by apb1 on Jun 21, 2013 12:09:16 GMT
I'm not entirely convinced that he wasn't taking the piss. In fact I'd say I'm entirely convinced he was taking the piss. You may be right in which case he should have used a Unfortunately there are plenty of city people who think just like that! Christ, Irony alert. Do we always have to use a smiley?  |
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