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BobbyCummingsTackle |
February 29, 2024, 11:06am |
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all set for the Gotterramadung then.
Is that an opera about owning sheep poo?
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| Miss Scunthorpe. Not a beauty pageant, just sound advice. |
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Swansea_Mariner |
February 29, 2024, 11:06am |
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What’s concerning though, is that the club only posted a pre-tax profit of £245k, despite £1.4m generated from the cup run. Without that, you’re back in similar territory to the previous season’s £931k loss.
The underlying takeaway then, is that we aren’t sustainable outside of extraordinary seasons, and even accounting for a degree of unsustainability, we remain wholly uncompetitive on the pitch. That said, that’s not the whole story, because we do know from statements by Stockwood and Hurst in the summer that the playing budget had increased (by what extent we don’t know), and yet we have by every tangible metric got much worse on the pitch.
My thoughts exactly, where on earth do we go from here based on the fact that we can't increase matchday revenue by much and are unlikely to have cup sales/player trading that generates an additional 900k each year. It's entirely laudable that they are converting 3m loans to shares, but what's the medium/long term prospects for us as they look pretty bleak to me based on that.
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LH |
February 29, 2024, 11:13am |
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Accounts bods: any chance of a 5yr/10yr rolling cost of ground maintenance? BP is eating money and probably the biggest weight around our necks.
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diehardmariner |
February 29, 2024, 11:20am |
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Interesting set of accounts my fishy friends ,im no accountant so i cant really comment on them however i do note that Jason and Andrew have put in £3million ! Can you tell me the difference between them putting money into your club like ours do ? Which is fantastic for both clubs however ours is going to finish top 10 in league 1 and yours in the bottom 4 in league2.
Mmmmmm
Difference is, probably, the transparency that 1878 have said they'll always look to move the club on and, as investors, look to recoup their injections (and then some, I expect). The ambition of improvement at each stage is clearly tailored towards making the club a better, slicker and more profitable operation which in turn makes us a more attractive prospect to future owners and therefore a greater return on the initial investment. As they are fans you have to hope and show a degree of faith that there's no ulterior motive behind it. It's a long flipping winded operation if there is a quick buck exercise at play. Other than simply improvements I can't see any way we become more attractive to buyers. There's no quick buck here. Very happy to be corrected but I don't think Lincoln's owners have come out and stated their intentions other than a few wooly statements. They aren't local and from the outside looking in it's very difficult to see why an American family with no ties to the area decided to invest in a lower league football club that isn't a sleeping giant, hasn't got a historic large fan base nor is it a 'name' outside the region. I don't think it's fantastic for either club to be honest. It's not sustainable for any club. Nice dig on the league position, noted and fair. I can't argue that. However, my aspirations for GTFC are far higher than riddling ourselves with debt, benign or not, to finish 54th in the league system, can't remember seeing the trophies for that one. Equally so I'm not happy finishing (although I'll take it at this moment in time) 90th in the league for any profit or debt.
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Poojah |
February 29, 2024, 11:21am |
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I won't refer my AAT 4 textbook from 20 years ago as it's likely in the bin.
I think as a one off it's very impressive Poojah as I doubt many clubs (do any ) turn a profit these days , they must have accounted for about a 1 million loss at the start of the 22/23 season which was effectively written off from the cup run money then some .
My concern is that just over £1.7m of our total turnover (25% no less) came from the cup run and player sales, neither of which are reliable or stable sources of income. The statement also points out that attendances were the second highest in 30 years, which is a great thing on the surface, but also requires a degree of optimism and momentum to maintain, both of which have now been lost. The average price of a season ticket last season was £222.45 (which is slightly lower than I’d have guessed, but presumably includes a high proportion of concessions), of which we sold 5,754. I think we sold slightly fewer this season, but let’s just say that drops back down to a more “normal” figure of 3,500 next season, that’s bang on another half-a-million quid of guaranteed income down the proverbial shítter. From a financial point of view, it’s not this season I’m concerned about, but next. Especially if we go down. I posted something along these lines the other day, but the accounts bring it home. Stay up this season, and the extra TV money etc means we’re probably still talking about turnover in the £7m region. Go down, and have a rough season, and we could be down to half that amount. Ifs and buts I know, but a potentially very bumpy ride.
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| A smooth sea never made a skillful mariner. |
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HerveJosse |
February 29, 2024, 11:21am |
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We now have to wait another 12 months to see what the current bunch of failures cost us. Jason and Andrew have purchased the club and stuck another £3m in, yet we still find ourselves in the same position.
Those figures are positive on the face of it, just increase my anger when I think about where we find ourselves.
The accounts do state that the playing budget for 23/24 was increased by 22% over the figures here . Presumambly all and more actually spent given the need for incoming in January. Probable conclusion is we have a reasonable player budget but it’s been spent appallingly badly .
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Mappers |
February 29, 2024, 11:23am |
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well least we turned a profit I guess, i note you are 4 million in debt is that right? We've got things very very badly wrong on the pitch this season no doubts about that
Also 300k up on Lincoln (£6.5mil) revenue 22/23 season - not bad for the minnows of Lincolnshire .
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ska face |
February 29, 2024, 11:23am |
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Paul Hurst wants stringing up (metaphorically speaking) for the summer recruitment.
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Poojah |
February 29, 2024, 11:28am |
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Paul Hurst wants stringing up (metaphorically speaking) for the summer recruitment.
Still question marks there, for me. Like all managers, Paul Hurst has signed the occasional stinking player, but I can’t ever remember him having a stinking summer window (with the possible exception of Ipswich, under very different circumstances). Why now, with the biggest tail wind we’ve had in years, does he fúck it up so badly? How did we end up with such a gutless crop of players, when even the less talented Conference sides back in the day always had a good go? Is it just an anomaly, or was a degree of responsibility for recruitment shifted away from him? Not trying to start a conspiracy theory, it’s just really odd in the context of his priory history.
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| A smooth sea never made a skillful mariner. |
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Mappers |
February 29, 2024, 11:28am |
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My concern is that just over £1.7m of our total turnover (25% no less) came from the cup run and player sales, neither of which are reliable or stable sources of income. The statement also points out that attendances were the second highest in 30 years, which is a great thing on the surface, but also requires a degree of optimism and momentum to maintain, both of which have now been lost.
The average price of a season ticket last season was £222.45 (which is slightly lower than I’d have guessed, but presumably includes a high proportion of concessions), of which we sold 5,754. I think we sold slightly fewer this season, but let’s just say that drops back down to a more “normal” figure of 3,500 next season, that’s bang on another half-a-million quid of guaranteed income down the proverbial shítter.
From a financial point of view, it’s not this season I’m concerned about, but next. Especially if we go down. I posted something along these lines the other day, but the accounts bring it home. Stay up this season, and the extra TV money etc means we’re probably still talking about turnover in the £7m region. Go down, and have a rough season, and we could be down to half that amount. Ifs and buts I know, but a potentially very bumpy ride.
That's a fair opinion . They will be making up a fair shortfall this season at least you would have thought ,it's going to be much bigger next if we go down isn't it . I shudder at the thought of the playing budget this season , I honestly think they have stretched it to a decent level and it's just been terribly poor recruitment who have not come cheap . We likely will be stuck with a fair few of them whatever league we are in. It is vital we stay up no doubt about that imo. Especially as your point is key - their model is obviously eventually to try and be sustainable through a player sell on strategy which will have touched the sides with the Conteh sale , but would be a hell of a lot more harder to implement in NL . Their whole pack of cards is in danger of tumbling down really .
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