Annual accounts are out

[Jimfanciesthedude 24,944]

1 minute ago, GOAT said:

We spent fuck all in the grand scheme of things made the CL and didn’t spend a fucking penny off it.  Anyone defending that can give me peace as far as I’m concerned it was a disgrace.  

You do realise that the CL money was only 18mill, add another 8mill for tickets and it isn't as much as you'd think

[mitre_mouldmaster 21,509]

3 minutes ago, GOAT said:

We spent fuck all in the grand scheme of things made the CL and didn’t spend a fucking penny off it.  Anyone defending that can give me peace as far as I’m concerned it was a disgrace.  

We literally couldn't spend it without being shat on by Uefa.

It's a pretty solid defense for not spending it to be fair.

[Brubear 2,953]

4 hours ago, MrMckee said:

Wonder what Wilson, gio and Robertson are on for salaries. Would love to know 

Is Gio not on 1.25m per annum. That was tge figue quoted if we had to pay off the end if his contractbif we sacked him. 

[Jimfanciesthedude 24,944]

2 minutes ago, mitre_mouldmaster said:

Hope you are right, but I don't see it.

Most of these types come in, buy the club with an eye watering loan taken out against the club, putting our debt through the roof. They then cut costs to the fucking bone giving us a wage bill which is purely at the level of our gaurunteed income. I.e. season ticket income and TV rights etc.

Any money from things like Euro participation is taken right back out as profit for them, where they have not spent a fucking penny as the club effectively paid for them to takeover.

We would be where we are now, with a fraction of the current wage bill.

They never want to risk gaurunteed income and have a gamble to start making big money through spending vast amounts and hoping for CL money. They will always take the easy money and use this to do their next scheme with some other business.

The current board offer us the safety of knowing that whatever we bring in will either go straight back into the club or go back to paying off money they actually put in themselves.

After these last few years, I'll always pick guys to run is who have our interests at heart, not the drive to make money for themselves as the primary reason.

They might do, or they might do a glazers and just take massive dividends each year but spend money to keep the club sort of competitive to keep share price decent 

I agree its dangerous though

[Brubear 2,953]

2 minutes ago, Jimbeamjunior said:

You do realise that the CL money was only 18mill, add another 8mill for tickets and it isn't as much as you'd think

Probably made less from Europe this season than last. Only 5 home games versus 9 last season for a start and prize money and tv income for reaching final of EL must be as high if not higher than  exitimg group of CL with zero points. 

[The Beast 9,264]

3 hours ago, STEPPS BOY said:

Sure they stated they were looking at £1 million a year profit from ED House.

To me it looks like they Committed to the project and even though the sale of Albion car park never happened and costs spiralled due to world events, they had promised Ed House as the 150 years showpiece and just ploughed on to save face. 
 

Haha really?

It sounds like they have borrowed the SNP economic forecasting tool to come up with those sort of numbers.

[The Dude 20,026]

2 minutes ago, Jimbeamjunior said:

They might do, or they might do a glazers and just take massive dividends each year but spend money to keep the club sort of competitive to keep share price decent 

I agree its dangerous though

They could even do a FSG and invest huge sums in renovating the stadium and increasing it's capacity and take the club to it's most on-field success in a generation.

 

[The Beast 9,264]

3 hours ago, TheKingObv said:

And it would have been an incredible year without certain exceptional fees.

It works both ways.

The directors taking cash rather than equity as repayment and EH are elective fees though.

[The Beast 9,264]

3 hours ago, Prso's headband said:

People cut him a lot of slack for that car crash interview. It’s what I’d be saying if I took £6.5m out the club and wanted my £10m back with interest. He’s a cunt like the rest of them

You can be sure if it were King doing this the board would be making a big deal about it.

[Clemdog 39,389]

11 minutes ago, Jimbeamjunior said:

But we did spend money, and not only is our wage bill bloated, but so is the first team squad, we need rid of a good chunk of them first before we start bringing in high wage players

There's a huge flaw in your argument when we signed up Davis, Arfield & McGregor.

The more likely reason we didn't spend anymore money is probably due to FFP. 

I'm not overly pissed off with the Accounts (Ashley aside) what really pisses me off and will continue to do so is the absolute amateur level at which our footballing operation - specifically transfers is being 'run'.

The Management of the squad is absolutely embarrassing £7.5Million on Bacuna, loan deals & agent fees?!

These Accounts highlight those concerns. 

 

[graeme_4 35,174]

5 minutes ago, The Dude said:

They could even do a FSG and invest huge sums in renovating the stadium and increasing it's capacity and take the club to it's most on-field success in a generation.

 

Highly unlikely though.

[The Godfather 72,650]

Just now, GabrielTomato said:

There's a huge flaw in your argument when we signed up Davis, Arfield & McGregor.

The more likely reason we didn't spend anymore money is probably due to FFP. 

I'm not overly pissed off with the Accounts (Ashley aside) what really pisses me off and will continue to do so is the absolute amateur level at which our footballing operation - specifically transfers is being 'run'.

The Management of the squad is absolutely embarrassing £7.5Million on Bacuna, loan deals & agent fees?!

These Accounts highlight those concerns. 

 

It's shambolic.

Sanctioning deals for the likes of Matondo on top of the dross we extended is mental. 

Sands and some American basically on work experience other failures too.

 

[GersInCanada 7,775]

That's the first set of accounts in donkeys that I am overall pleased with.

[The Dude 20,026]

1 minute ago, graeme_4 said:

Highly unlikely though.

It is but then so is someone buying us looking to turn a huge profit for themselves. Scottish football isn't exactly an easy way to flip an investment for big profit/dividends.

[mitre_mouldmaster 21,509]

2 minutes ago, Jimbeamjunior said:

They might do, or they might do a glazers and just take massive dividends each year but spend money to keep the club sort of competitive to keep share price decent 

I agree its dangerous though

The Glazers are basically the best option and even at that it's fairly grim.

The thing with them as well is that they have a bit of a reputation to uphold and massive scrutiny due to the profile of Man U on a global scale.

These cunts we are dealing with are tinpot by comparison. They can rip the cunt as much as they will want as they have no reputation to damage, and absolutely fuck all people in the US will have any knowledge of the carnage they are doing in Scotland due to the absolute obscurity of our game here.

Has all the hallmarks of a two Bob outfit who will oversee a disaster.

[mitre_mouldmaster 21,509]

6 minutes ago, The Dude said:

It is but then so is someone buying us looking to turn a huge profit for themselves. Scottish football isn't exactly an easy way to flip an investment for big profit/dividends.

Not a huge profit, but a leveraged buy out followed by a slow leaking of profit towards them would be the goal.

I doubt very much that they will be using much of their own money at all.

[rossco87 708]

All things considered accounts look pretty decent. What it really highlights is that Ross Wilson has utterly failed in the player trading model over the last two years.

 

The squad needed refreshed after 55 and he failed to realise any kind of meaningful bids on key players (allegedly Gerrard had an input on that but Wilson is meant to be his boss FFS!) which meant last summer and winter transfer market we were looking at the “bargain bucket” end of the market and haven’t addressed key weaknesses in the squad while frittering away precious money.

 

We now need a pretty fundamental rebuild of the squad (probably looking at the realistic region of 10 out and 10 in), have let players with significant value run down contracts to the point we are highly likely going to let them walk out the door for free which limits our ability to move in the summer.  His only saviour will be the Bassey sale but let’s be honest this time last year we would never have imagined that would be possible - it might happen again but I am struggling to even think of a candidate for someone who would have the profile to totally turn it around and be a big sale?

 

The failure of the long term vision and implementation of the player trading model should see Wilson out of a job, but I get the feeling the board are going to point to the Patterson (arguably we sold him too early and would have been better moving on Tav to give him more game time and realise a higher price) Bassey (as above a miraculous turn around in form) and Aribo (should have been sold for way more than we got for him but combination of contract running down and buy out clause weakened our hand) sales and say he is doing a good job…

[gj923 1,457]

36 minutes ago, Jimbeamjunior said:

Davies will take easily that maybe more, and given aribo was on his first deal with us, 20k seems far too high given where we got him from and his profile at the time

Bassey will have been 10k max, probs less, Lawrence will have that and more, then colak, tillman, Matondo, yilmaz, souttar will be on at least 10k a week, probs close to 15 given he's an international player

First Team squad is probably about 30 players so at 35M its just under 22.5k PW on average. I assume that the 35M includes the likes of win bonuses, appearances etc so the average basic salary will be lower than that for everyone.

[eastendblue 11]

4 hours ago, TheBluebells said:

Does that money still not get converted into shares?

  No 

[eastendblue 11]

1 hour ago, GOAT said:

I thought these loans were going to be exchanged for shares. 

They were interest bearing loans .

The guys,rightly,want their money back.One of the loans was used to pay back King.

[CoplandRoad83 3,372]

We're not getting value from that wage bill. Too many big earners off form, too old or injured

[.Williamson. 83,779]

5 hours ago, Dan Deacon said:

 

 

 

 

[the cry was no 3,044]

48 minutes ago, The Dude said:

It is but then so is someone buying us looking to turn a huge profit for themselves. Scottish football isn't exactly an easy way to flip an investment for big profit/dividends.

It can be if you asset strip

Green and his gang proved that

Give me our current investors all day every day 

[Guest]

52 minutes ago, The Godfather said:

It's shambolic.

Sanctioning deals for the likes of Matondo on top of the dross we extended is mental. 

Sands and some American basically on work experience other failures too.

 

I can't believe two people have been hoodwinked into paying millions for Matondo btw

The boy is absolutely dreadful, all he can do is run

He's another Gregg Wylde

[Guest]

3 minutes ago, .Williamson. said: