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Post by benjaminbiscuit on Dec 29, 2021 12:51:36 GMT
You misread my comment as a criticism it wasn’t it was merely an observation , as I’ve said before many times the owners commitment is behind reproach and I’m sure if there is an opportunity to do something clever they will find it and if they did they’d provide even more unbelievable financial support Ok apologies there BB Maybe so used to so many claiming we're in money trouble when in fact we've spent money of late and none of us have a clue. Be nice if we could land a couple in Jan as got a great chance of landing a top 6 place despite the injury pile. No worries at all , I fancy we need at least three but it won’t be for the Jack of owners willingness to support just the bonkers FFP restricting free market conditions for those with the means
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Post by benjaminbiscuit on Dec 29, 2021 12:53:35 GMT
Ok apologies there BB Maybe so used to so many claiming we're in money trouble when in fact we've spent money of late and none of us have a clue. Be nice if we could land a couple in Jan as got a great chance of landing a top 6 place despite the injury pile. No worries at all , I fancy we need at least three but it won’t be for the Jack of owners willingness to support just the bonkers FFP restricting free market conditions for those with the means Id suspect reading the other posts we may have a plan for feb in the accounts even if it’s as simple as another write off to clear the way in exceptional circumstances but hopefully it’s better than that
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Post by chiswickpotter on Dec 29, 2021 13:04:49 GMT
The idea we have a little master strike planned for the new year seems to have gone quiet , and the manager certainly not indicating a bigger budget in January Must be a chance we will use Covid to justify writing off the £20 million of player value left on the books so we go into next season with no ongoing charge and so can spend all our revenue on wages and transfers. With 12 players out of contract will be a one off opportunity to reset comprehensively
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Post by bayernoatcake on Dec 29, 2021 13:13:37 GMT
The idea we have a little master strike planned for the new year seems to have gone quiet , and the manager certainly not indicating a bigger budget in January Must be a chance we will use Covid to justify writing off the £20 million of player value left on the books so we go into next season with no ongoing charge and so can spend all our revenue on wages and transfers. With 12 players out of contract will be a one off opportunity to reset comprehensively I thought we didn’t need the excuse because their contracts are up?
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Post by thebet365 on Dec 29, 2021 13:35:43 GMT
Must be a chance we will use Covid to justify writing off the £20 million of player value left on the books so we go into next season with no ongoing charge and so can spend all our revenue on wages and transfers. With 12 players out of contract will be a one off opportunity to reset comprehensively I thought we didn’t need the excuse because their contracts are up? The more that can be written off under covid exemptions the better. Remember the accounts not yet out are to May 21 so basically last seasons. If we can get as much written off as possible to covid it'll leave more usable losses going forward..
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Post by Billy the kid on Dec 29, 2021 13:42:11 GMT
I thought we didn’t need the excuse because their contracts are up? The more that can be written off under covid exemptions the better. Remember the accounts not yet out are to May 21 so basically last seasons. If we can get as much written off as possible to covid it'll leave more usable losses going forward.. You have to question the timing of Tony leaving prior to the books being revealed, maybe its a shit storm that's about to unfold. Or maybe he has done what he can, and signs off with ffp being nothing more than a mild irritant.
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Post by chiswickpotter on Dec 29, 2021 16:19:36 GMT
Must be a chance we will use Covid to justify writing off the £20 million of player value left on the books so we go into next season with no ongoing charge and so can spend all our revenue on wages and transfers. With 12 players out of contract will be a one off opportunity to reset comprehensively I thought we didn’t need the excuse because their contracts are up? There are two costs, wages and the annual charge of the transfer fee divided by contract length. We wrote off £60 million during 2019/29, about £40 million more than would have been allowed without Covid, by claiming player resale values were permanently reduced. That left £20 million of player value which would probably be spread over 20/21, 21/22 and 22/23, maybe £12m, £5m, £3m as contracts end. If we have written most of it off then we may have some more scope in Jan and a clean sheet next season. It may also be that if they are treated as exceptional, the losses don’t count against our allowable losses, effectively creating a £20 million upside. ( Not for the owners who have to fund this - it may explain in part how we got so many players off the books last summer). With the large number of contracts ending we will also have much more wage flexibility.
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Post by potterburt on Dec 30, 2021 9:42:24 GMT
The more that can be written off under covid exemptions the better. Remember the accounts not yet out are to May 21 so basically last seasons. If we can get as much written off as possible to covid it'll leave more usable losses going forward.. You have to question the timing of Tony leaving prior to the books being revealed, maybe its a shit storm that's about to unfold. Or maybe he has done what he can, and signs off with ffp being nothing more than a mild irritant. I asked if TS leaving was in conjunction with a rather creative transaction the club has done so as to give us a cash injection for the next push to get promoted. Apparently - if it was related then it wasn’t known by many at the club that that was the case. With what’s happened, I can imagine that Denise’s husband will have been heavily involved though.
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Post by ivorstokie on Dec 30, 2021 14:27:20 GMT
I see that Chelsea have announced a £146m loss for their last financial year. Don’t know what the figures were for previous years, and that the club owes over £1 billion to Abramovich - but I assume FFP regulations don’t apply to the Big Boys anyway…..
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Post by cheadlepotter on Dec 30, 2021 14:43:32 GMT
I see that Chelsea have announced a £146m loss for their last financial year. Don’t know what the figures were for previous years, and that the club owes over £1 billion to Abramovich - but I assume FFP regulations don’t apply to the Big Boys anyway….. FFP is there to protect the big boys. If it wasn’t there, Newcastle would be in the ‘Big Seven’ very soon.
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Post by followyoudown on Dec 30, 2021 15:15:21 GMT
I thought we didn’t need the excuse because their contracts are up? The more that can be written off under covid exemptions the better. Remember the accounts not yet out are to May 21 so basically last seasons. If we can get as much written off as possible to covid it'll leave more usable losses going forward.. Yes this - used to be known as bring out your dead accounting, one place I worked scrapped a new IT system about £20m in at that point the word went out to cleanse the accounts of any debatable balances as it was decided it was better to have 1 bad year than have stuff go into future years, that was in the good old days when provisions could be used to smooth profits.
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Post by cobhamstokey on Jan 4, 2022 11:11:31 GMT
Sucks.
The biggest single reason along with some awful signings by Rowett and Jones that we won’t be going up any time soon. We’re totally hamstrung by it.
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Post by greenhoff on Jan 4, 2022 12:07:59 GMT
Sucks. The biggest single reason along with some awful signings by Rowett and Jones that we won’t be going up any time soon. We’re totally hamstrung by it. I honestly cant think of any other business where owners would not be able to invest in their company
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Post by cobhamstokey on Jan 4, 2022 12:46:11 GMT
Sucks. The biggest single reason along with some awful signings by Rowett and Jones that we won’t be going up any time soon. We’re totally hamstrung by it. I honestly cant think of any other business where owners would not be able to invest in their company it’s ridiculous and bordering on corrupt
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Post by FullerMagic on Jan 12, 2022 9:02:40 GMT
Bristol City facing points deduction as transfer market collapse costs clubs millions Middlesbrough and Stoke also face severe scrutiny as Covid-inflicted collapse in transfer values makes it impossible to offset FFP losses
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Post by FullerMagic on Jan 12, 2022 9:06:18 GMT
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Post by Pirate on Jan 12, 2022 9:10:50 GMT
FFP is becoming a farce, there is going to come a point where teams start going into administration with millionaire owners who want to invest Its bad enough under regular circumstances that owners cannot invest in there businesses but given the Covid situation i cannot fathom why they are clinging to these rules, surely its in everyone's interest that clubs which can put money back into the game are allowed to do so?
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Post by scfcno1fan on Jan 12, 2022 9:13:31 GMT
You do wonder if we are in with chance of getting some kind of points deduction.
Albeit I’m not really sure where we stand with our finances at the moment.
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Post by werrington on Jan 12, 2022 9:20:34 GMT
The potential Harry Souttar sale would of offset much of that but that all came crashing down with his injury
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Post by Laughing Gravy on Jan 12, 2022 9:29:27 GMT
The EFL made arses of themselves initially against Mel Morris a relative pauper compared to the Coates’. They lost and had to fiddle the result to get Derby done. Be interesting to see if they’ve got the bollox to take on the financial might of bet365 and the messianic zeal of Steve Gibson. Good luck to them.
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Post by prestwichpotter on Jan 12, 2022 9:37:10 GMT
The potential Harry Souttar sale would of offset much of that but that all came crashing down with his injury Our four most saleable assets, Bursik, Souttar, Powell and Campbell all injured (or in Campbell’s case just back from a long term injury). And no one interested in the likes of Smith, Bath and Ince who all earn around the £20k mark depending on which source you believe. We are severely hamstrung…….
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Post by march4 on Jan 12, 2022 9:49:35 GMT
If only we hadn’t spent money on Surridge then we would have a little financial wriggle room.
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Post by chiswickpotter on Jan 12, 2022 9:50:01 GMT
2020/21 will be the make or break for us. For 2021/22 the Collins sale saves us and by 2022/23 with contracts running out we are fine. Based on the published accounts, we probably need to break even in 2020/21 after Covid write offs. We still received a parachute parachute payment so might have revenue of £40 million to cover wages and player write offs. It will probably all come down to getting EFL agreement to write down the remaining player value of £20 million on the balance sheet - as it stands this would be a cost of £10m in 2020/21 which would be a problem I reckon. There probably is a good case for writing off the £20m as transfer fees have collapsed, I don’t believe there is a player we bought before 2020 we could get a fee for. Of course, part of the reason is who we signed not Covid. We might just sneak through and I assume the club thinks so too
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Post by chiswickpotter on Jan 12, 2022 9:53:39 GMT
The potential Harry Souttar sale would of offset much of that but that all came crashing down with his injury Selling him would help with this season but would have no impact on the ongoing FFP calculation up to the end of 2020/21 that the article refers to.
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Post by prestwichpotter on Jan 12, 2022 9:54:11 GMT
If only we hadn’t spent money on Surridge then we would have a little financial wriggle room. If only we hadn’t allowed Rowett to piss £50m up the wall, it wouldn’t have mattered then…….
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Post by theonlooker on Jan 12, 2022 10:06:02 GMT
We need a statement from the hierarchy.
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Post by mickstupp on Jan 12, 2022 10:10:16 GMT
If only we hadn’t spent money on Surridge then we would have a little financial wriggle room. That was a mere drop in the ocean compared to what was wasted previously.
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Post by werrington on Jan 12, 2022 10:11:08 GMT
The potential Harry Souttar sale would of offset much of that but that all came crashing down with his injury Selling him would help with this season but would have no impact on the ongoing FFP calculation up to the end of 2020/21 that the article refers to. The potential Campbell sale would of offset that though
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Post by chiswickpotter on Jan 12, 2022 10:31:27 GMT
Selling him would help with this season but would have no impact on the ongoing FFP calculation up to the end of 2020/21 that the article refers to. The potential Campbell sale would of offset that though Yep
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Post by dutchstokie on Jan 12, 2022 10:48:00 GMT
We need a statement from the hierarchy. "Whats all the fuss about ?" Kind regards, Peter Coates
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