Accounts?

[johanhentze 14,284]

22 minutes ago, STEPPS BOY said:

He’s that good Sheff United, where he was on loan, decided against signing him permanently and Signed the centre half from Malmo.

Could be a number of reasons for that, though. Like finances? SU dont pay anywhere near what we do for players in wages.

[STEPPS BOY 74,353]

14 minutes ago, johanvanhentze said:

Could be a number of reasons for that, though. Like finances? SU dont pay anywhere near what we do for players in wages.

Probably more to do with fact he barely started for them second half of season.

[grfc1872 56]

25 minutes ago, RFC55 said:

Tarrier cunt 

Wtf ya fud ?

[GA1972 9,763]

2 hours ago, eskbankloyal said:

They will show that Directors repaid a sizeable amount of loans to themselves which had a direct impact on our transfer budget. 

A difficult one to spin given where we are. 

Although I’m sure the usual suspects will try and do it for them. 

Unreal the short sightedness of that, clubs starting to spin some money but instead of giving that a chance to continue and grow let’s just siphon it out at the first opportunity. Shows the level of incompetence regarding long term planning we’re dealing with 

[the cry was no 3,035]

21 minutes ago, eskbankloyal said:

There was over £10m of director loans at the last accounts (not including DK which as you say was repaid). A small amount was converted to equity, the rest was not. 

From the Jun 21 accounts

The Club carried out further share issues during the year, converting £26.1m of shareholder loans to equity and further strengthening the Balance Sheet. The open share issue available to fans and investors in July 2021 will fall into the next set of results.

We'd be absolutely fucked without the £10s millions the investors have stumped up

Snakes though

[eskbankloyal 19,446]

48 minutes ago, the cry was no said:

From the Jun 21 accounts

The Club carried out further share issues during the year, converting £26.1m of shareholder loans to equity and further strengthening the Balance Sheet. The open share issue available to fans and investors in July 2021 will fall into the next set of results.

We'd be absolutely fucked without the £10s millions the investors have stumped up

Snakes though

I’m aware 👍

[Davy Vandenbroucke 26,234]

In a thread about protesting against the board, right on cue…

Utter fucking embarrassment that cunt 

[johanhentze 14,284]

1 hour ago, STEPPS BOY said:

Probably more to do with fact he barely started for them second half of season.

By all accounts hes been having personal problems. That can definitely play a huge part.

[The Godfather 72,254]

2 minutes ago, The FF Snitch said:

In a thread about protesting against the board, right on cue…

Utter fucking embarrassment that cunt 

He's a cunt, a cowardly one too.

[Davy Vandenbroucke 26,234]

4 minutes ago, The Godfather said:

He's a cunt, a cowardly one too.

Literally him and Rab Marshall are the only ones still defending the board, even the likes of H&H and 4Lads who usually try and back them have stopped bothering 

I was going to ask if he has any sense of shame or embarrassment, but judging by the way he treats his own body, seemingly not.

[Clemdog 39,389]

I understand Park has put a lot of money into the Club, but other investors must be absolutely pig sick with the way we're being run.

An invisible Chairman who can't tuck his shirt it. A MD who's out his depth. A failing DoF. A Manager who after 12 months we don't know his style of play. About 10 players out of contract in the Summer.

A total fucking shit show - that doesn't even account for the absolutely baffling decisions we've seen commercially.

[The No.9 760]

I’m scared to find out tbh

[the cry was no 3,035]

4 hours ago, eskbankloyal said:

They will show that Directors repaid a sizeable amount of loans to themselves which had a direct impact on our transfer budget. 

A difficult one to spin given where we are. 

Although I’m sure the usual suspects will try and do it for them. 

You could be correct (you could be speaking from a position of knowledge?) but personally I'd be surprised if sizeable amounts of loans have been repaid.

3 key issues I'd love clarity on but doubt the accounts will be truly revealing on

1. How much did we have to pay Ashley and is he now paid off? I very much doubt he's taken his last pound of flesh tbh 

2. How much over budget has Edmiston House gone? The work appeared to stop at the start of the year and then re-start at pace 

3. The detail of our UEFA FFP restrictions, I get the feeling they are quite restrictive and see us needing to sell to buy or lose wages to add wages

For this reason I don't think we were able to invest in the squad even if we wanted to and I think any excess monies were swallowed up by Ashley, NEH etc rather than paying back loans although I could be completely wrong

None of the Aribo or Bassey money will be included in the 30th June period but we should get a post balance sheet update that might shed some light on what the future holds

 

 

[JCDBigBear 10,831]

3 hours ago, eskbankloyal said:

There was over £10m of director loans at the last accounts (not including DK which as you say was repaid). A small amount was converted to equity, the rest was not. 

Within the last fiscal year more than £10 million was converted to equity.

https://find-and-update.company-information.service.gov.uk/company/SC437060/filing-history

[JCDBigBear 10,831]

3 hours ago, esquire8 said:

The board of directors took back money they loaned to the club plus more.

That just isn't true.

[JCDBigBear 10,831]

2 hours ago, GA1972 said:

Unreal the short sightedness of that, clubs starting to spin some money but instead of giving that a chance to continue and grow let’s just siphon it out at the first opportunity. Shows the level of incompetence regarding long term planning we’re dealing with 

Your post was based on a lie about loans repaid.  Loans were converted to equity.

[JCDBigBear 10,831]

23 minutes ago, the cry was no said:

You could be correct (you could be speaking from a position of knowledge?) but personally I'd be surprised if sizeable amounts of loans have been repaid.

3 key issues I'd love clarity on but doubt the accounts will be truly revealing on

1. How much did we have to pay Ashley and is he now paid off? I very much doubt he's taken his last pound of flesh tbh 

2. How much over budget has Edmiston House gone? The work appeared to stop at the start of the year and then re-start at pace 

3. The detail of our UEFA FFP restrictions, I get the feeling they are quite restrictive and see us needing to sell to buy or lose wages to add wages

For this reason I don't think we were able to invest in the squad even if we wanted to and I think any excess monies were swallowed up by Ashley, NEH etc rather than paying back loans although I could be completely wrong

None of the Aribo or Bassey money will be included in the 30th June period but we should get a post balance sheet update that might shed some light on what the future holds

 

 

1) I heard it was supposedly settled at £7 million.  If we continued to court it was reckoned it would be £10-£11 m.

2)  Rumoured to have basically doubled to about £11m.

3) UEFA FFP rules meant we had to get our accounts in order.

 

We should find out very soon as the AGM was 30 Nov last year and the accounts get posted some weeks prior to that.

[graeme_4 34,786]

Might be a stupid question, but why are we struggling financially?

On the face of it we’ve had…

- Gerrard & backroom team money

- Patterson, Aribo and Bassey for £35m+

- Europa league final run

- CL qualification 

- Season tickets sold out 

- ‘Record breaking’ sales with Castore & commercial revenue

Surely can’t get much better than that over a 12 month period? 
 

@eskbankloyal @The Dude any ideas?

[RFC55 109,438]

10 minutes ago, graeme_4 said:

Might be a stupid question, but why are we struggling financially?

On the face of it we’ve had…

- Gerrard & backroom team money

- Patterson, Aribo and Bassey for £35m+

- Europa league final run

- CL qualification 

- Season tickets sold out 

- ‘Record breaking’ sales with Castore & commercial revenue

Surely can’t get much better than that over a 12 month period? 
 

@eskbankloyal @The Dude any ideas?

Champions league aribo and bassey will be next years accounts not this 

[esquire8 43,088]

17 minutes ago, graeme_4 said:

Might be a stupid question, but why are we struggling financially?

On the face of it we’ve had…

- Gerrard & backroom team money

- Patterson, Aribo and Bassey for £35m+

- Europa league final run

- CL qualification 

- Season tickets sold out 

- ‘Record breaking’ sales with Castore & commercial revenue

Surely can’t get much better than that over a 12 month period? 
 

@eskbankloyal @The Dude any ideas?

Probably never will but the club having almost a decade being in the red will probably have something to do with it. Equity, loans, shareholder payments, whatever, money has been paid back with interest. Not even mentioning the pure boardroom vanity project that is Edmiston House.

[The Dude 20,026]

3 minutes ago, graeme_4 said:

Might be a stupid question, but why are we struggling financially?

On the face of it we’ve had…

- Gerrard & backroom team money

- Patterson, Aribo and Bassey for £35m+

- Europa league final run

- CL qualification 

- Season tickets sold out 

- ‘Record breaking’ sales with Castore & commercial revenue

Surely can’t get much better than that over a 12 month period? 
 

@eskbankloyal @The Dude any ideas?

 

26 minutes ago, graeme_4 said:

Might be a stupid question, but why are we struggling financially?

On the face of it we’ve had…

- Gerrard & backroom team money

- Patterson, Aribo and Bassey for £35m+

- Europa league final run

- CL qualification 

- Season tickets sold out 

- ‘Record breaking’ sales with Castore & commercial revenue

Surely can’t get much better than that over a 12 month period? 
 

@eskbankloyal @The Dude any ideas?

A massive wage bill, directors no longer covering the funding gap, Ed House being way over budget, spending money on general improvements the incumbent board have been neglecting since taking power. Wasteful transfer spending and loads more 
 

[Blue72 1,147]

10 hours ago, GabrielTomato said:

I understand Park has put a lot of money into the Club, but other investors must be absolutely pig sick with the way we're being run.

An invisible Chairman who can't tuck his shirt it. A MD who's out his depth. A failing DoF. A Manager who after 12 months we don't know his style of play. About 10 players out of contract in the Summer.

A total fucking shit show - that doesn't even account for the absolutely baffling decisions we've seen commercially.

They should take action (as they can as investors) to sort it then tbf 

[VanVeenRangers 2,546]

41 minutes ago, esquire8 said:

Probably never will but the club having almost a decade being in the red will probably have something to do with it. Equity, loans, shareholder payments, whatever, money has been paid back with interest. Not even mentioning the pure boardroom vanity project that is Edmiston House.

Having Edmiston House will give the club at least 1m per season I'm sure i read. So in the long run it's worth it.

Concerts, events and even on match days and away games it will make alot of cash. Every penny counts.

It will also be nice to have somewhere to go for a pint either there or the sports bar being put into the current club shop.

[esquire8 43,088]

5 minutes ago, MorelosRangers said:

Having Edmiston House will give the club at least 1m per season I'm sure i read. So in the long run it's worth it.

Concerts, events and even on match days and away games it will make alot of cash. Every penny counts.

It will also be nice to have somewhere to go for a pint either there or the sports bar being put into the current club shop.

Its costing over £10m to build so only starts to be anywhere near profitable after 10 years "if" it does make a million a year. 

Concerts? Barely anyone will play there after the capacity plans were scaled back. Events? Great. 

Every penny does count, which is why the project was crazy to go ahead with at that time.

It's nice but an expensive nice during a time where the club needed investors to keep it out a financial black hole every year. 

It's a vanity project. 

[Negri's lovechild 14,265]

1 minute ago, esquire8 said:

Its costing over £10m to build so only starts to be anywhere near profitable after 10 years "if" it does make a million a year. 

It's nice but an expensive nice during a time where the club needed investors to keep it out a financial black hole every year. 

It's a vanity project. 

Agree with you there. Its money that could have been spent when the club is consistently making 'x' amount of money per year. To put that kind of money out the first season we get it is foolish and reckless, especially when there are vastly more important areas the money could be spent.