Just got hold of the accounts for 2009

 

Loss of ?13.2m compared to loss of ?8.1m for 2008

 

Group Turnover ?59.3m slightly up

 

Football Operations Turnover ?51.3m (up 3%)

 

Gate receipts down ?5.2m

 

Corporate hospitality ?1.8m down 22%

 

Attendances 22,845 (increase of 8%)

 

?49 season ticket for children increase ST kids numbers by 53%

 

Average ticket price ?11.29 (?13.63 last year)

 

Players bought ?5,079,067 players sold ?9,648,730

 

 

Of note, and I'm not an accountant

 

"Going concern

 

In ensuring that the group has sufficient liquid resources to meet its liabilities as they fall due, the directors have reviewed in detail the business's cash flow projections....they show a shortfall in the current level of facilities. However, the directors are currently in discussions with lenders regarding the potential securitisation of future guaranteed broadcast revenues"

 

Duckworth pay ?483,000 (up from ?376,000)

 

More to follow

In other words: they're borrowing against next season's Sky money.

Which most clubs without a wealthy benefactor do.

Net debt increased to ?64m against ?53m in 2008.

That report is bolx. We need to be relegated for more enjoyable football experience. We will get a parachute payment and could sell a couple players to repay the debt.

On the bright side Mr Duckworth must be doing a good job to get a 107k payrise.

PL Gate receipts ?5.2m and only represent a tenth of our turnover

 

Consulation with corporate hospitality customers to review the operation throughout the coming months as income down 22% (wonder why)

 

Lots of thanks to Eddie Davies and his Moonshift Investments who loaned us ?60.5m of which we owe them ?23m and which we got charged ?2m for loan, which seems reasonable. Eddie owns 95% of club, which we all know

 

Gartside pay ?584,000 up from ?296,000 last year, although some of his ?584,000 includes pay from previous years

PL Gate receipts ?5.2m and only represent a tenth of our turnover

 

Consulation with corporate hospitality customers to review the operation throughout the coming months as income down 22% (wonder why)

 

Lots of thanks to Eddie Davies and his Moonshift Investments who loaned us ?60.5m of which we owe them ?23m and which we got charged ?2m for loan, which seems reasonable. Eddie owns 95% of club, which we all know

 

Gartside pay ?584,000 up from ?296,000 last year, although some of his ?584,000 includes pay from previous years

 

 

So to summarise, one of Eddie Davies' companies has lent another of Eddie Davies' companies some money.

 

All of it is pretty irrelevant to anyone else but Eddie Davies.

It's money that doesn't really exist.

 

It'll be some form of tax avoidance.

How much spent on wages?

?34.9m on 50 players and 189 admin

 

slightly up on last year

 

suprise as we lost ?80K a week Anelka and Campo, Stelios, Diouf and only had half a year of Nolan

 

Jussi must pull some corn in

what period does this cover?

 

and does the 190 admin include deveres staff?

Edited November 2, 200916 yr by Casino

Normally upto 30th June

Let's hope we've got Eddie sufficiently insured

another website has wages at 41m, about 80% of footballing turnover.

 

as a standalone business, it would be frightening especially when they talk about securitising against future income streams

 

as it stands, previous posters Gonk and Traf have summed it up best

Our wages are still lower than all but the promoted 3. And possibly who pay in pay in pies as a way round ni.

Our wages are still lower than all but the promoted 3. And possibly who pay in pay in pies as a way round ni.

 

So in other words you don't know the wage bills at the other Premier League clubs.

That report is bolx. We need to be relegated for more enjoyable football experience. We will get a parachute payment and could sell a couple players to repay the debt.

 

What planet are you on ........sell a couple of players to repay the debt !!!! ?64 million I don't think so.

 

we go down we are fooked simple as that , administration etc. trouble is every year the debt gets bigger & that can't go on indefinately the furkin debt is more than ten

 

times the gate revenue.

 

Changing tack slightly why do we need a chief executive & a chairman , a club the size of ours surely does'nt need both unless of course our chairman is just part time

 

nice work if you can get it .

That report is bolx. We need to be relegated for more enjoyable football experience. We will get a parachute payment and could sell a couple players to repay the debt.

 

its like rain on your wedding day

Homer, It's ok saying we need to be relegated for a better football experience; I don't doubt the Newcastle fans are currently enjoying this season more than they enjoyed last season; but they would love to swap places with us.

Ok, they've managed to hit the ground running and look good for coming straight back up, but they don't all do that: Coventry, Norwich, Ipswich, Swindon, Leeds, Oldham, Southampton, Wednesday, Charlton, Leicester, Derby, Forest, QPR, the list goes on. All are former Premier League teams who didn't quite get the relegation and bounce back up right. All would certainly swap places with us right now.

 

By better football experience I presume you prefered the days of 3 - 4,000 on at Burnden. I'm not sure it's down to the league we're in and we certainly aren't ever going to get that Burnden Park feeling!

So in other words you don't know the wage bills at the other Premier League clubs.

 

oops missed out the word 'wigan'.

 

Anyway i read it in the notw so it must be true.

Homer, It's ok saying we need to be relegated for a better football experience; I don't doubt the Newcastle fans are currently enjoying this season more than they enjoyed last season; but they would love to swap places with us.

Ok, they've managed to hit the ground running and look good for coming straight back up, but they don't all do that: Coventry, Norwich, Ipswich, Swindon, Leeds, Oldham, Southampton, Wednesday, Charlton, Leicester, Derby, Forest, QPR, the list goes on. All are former Premier League teams who didn't quite get the relegation and bounce back up right. All would certainly swap places with us right now.

 

By better football experience I presume you prefered the days of 3 - 4,000 on at Burnden. I'm not sure it's down to the league we're in and we certainly aren't ever going to get that Burnden Park feeling!

Micky, micky, micky.

Cahill to go in January?

 

Just like Anelka did, to balance the books.

 

Big wigs will be hoping we have a decent few months to leave us in a position were we are likely to stay up. Or they might go for a gamble again by selling our best player.

 

Whatever happens, we are fooked. It?s just a matter of time before the debt ends up getting us relegated.

 

Surprised Mr Duckworth & Mr Gartside can receive massive pay rises after such a poor year.

Micky, micky, micky.

 

What, what, what?

The best bit is tucked away deep in the notes on page 35 under "Related Party Transactions":

 

During the year Moonshift Investments Limited (a Company in which E Davies has a beneficial interest) provided Burnden Leisure plc with loan facilities of ?60,500,000 (2008: ?7,500,000). At 30 June 2009 ?23,000,000 of these facilities were owed to Moonshift Investments Limited.

 

I am assuming that this shows in Creditors (note 16 on page 27) as the big increase in "Other Loans".

 

 

Basically this is partly good news for our future - as long as Eddie stays around!! It looks like the club is shifting its lending needs from banks and other financial institutions (down to ?39.4M from ?46M) to Eddie...

 

...the worry though is, in a season when Megson complained about having such a small squad, Sky money increasing and no real big wage players in the squad - we still managed to lose ?13.2M and see Net Debt increase by nearly the same...

 

 

...but despite these unbeliveably poor financial results the two men in charge took home bonuses of ?138K and ?148K.

What, what, what?

 

Out, out, out?

All clubs are the same.

 

Everton have got 12 "substantial" loans currently, and have just re-mortgaged and borrowed money against a non-depreciating asset....whatever that is!!!