SSN have just stated that the club has reduced its 'retained debt' by ?9.3M to just over ?26M. Not sure what this means exactly, but considering the financial discussions in other threads, it prehaps shows the direction the club is heading.

Can't help reading into this that any transfer funds would have to be generated by further player sales.

Think it means we lost 35.3 last year and this year we lost a further 26 million this year thats a whopping 61.3 million loss in 2 years I think Eddie Davies better go back to selling some more kettles.

 

just skim read the accounts and it seems that this exactly what it is - another loss of 26 mill ...

 

apologies for my direct response to your earlier post, I was completely wrong. Fack me this looks bad ...

 

I will wait until somebody better qualified than me sifts throws and tells us what the upshot is but it dont look too good to me ...

just skim read the accounts and it seems that this exactly what it is - another loss of 26 mill ...

 

apologies for my direct response to your earlier post, I was completely wrong. Fack me this looks bad ...

 

I will wait until somebody better qualified than me sifts throws and tells us what the upshot is but it dont look too good to me ...

 

ref page 9

 

net debt ?110.6m

ref page 9

 

net debt ?110.6m

 

that loss of 14 mill on player transfers is probably Cahill's value being written off? The actual trading was more or less b/e

 

main points i can see are yet another operating loss of (7.6 mill) and as pointed out an overall increase in debt. we are now in the 100 mill high club ...

 

October - the month that just keep on giving ...

http://www.bwfc.co.uk/staticFiles/5c/92/0,,1004~168540,00.pdf

 

Good find, will probably need to be filed in the fiction section at Waterstones mind...

 

"The Directors valu the current playing squad at ?61,500,000"

Good find, will probably need to be filed in the fiction section at Waterstones mind...

 

"The Directors valu the current playing squad at ?61,500,000"

 

!!!

 

Thats probably putting Cahill at around ?45 Million!!!

 

 

The directors estimate the current value of the playing squad to

 

be approximately ?61,500,000 (2010: ?64,050,000).

 

 

 

 

Really ?

 

Nothing to worry about then

Im no Accountant but every year when these things come out I like to pretend that I am so in my professional opinion I dont have a fucking clue whats going on?

 

There is no way ED has ever pumped ?100m into this club, ?50m at most surely. The Sunday Times a few years back valued his wealth at ?130m, there is no way he would sink the majority of it into a football team. A vast ammount of that debt owed must be interest on the debt building up.

 

I dont think ED is daft enough to think he will ever see ?100m back from BWFC, what is he going to do sell all the players and Build flats on the Reebok?

 

Like I said I dont have a fucking clue!

Good find, will probably need to be filed in the fiction section at Waterstones mind...

 

"The Directors valu the current playing squad at ?61,500,000"

 

I think its a fucking disgrace a club can have an entire squad worth the same as one player from a different club, in the same bastard league!

 

Off the subject, but it really winds me up!

Our squad cannot be worth ?61m.

The wibbly wobbly world of football club accounts.

 

Any other business in the uk would have been shut down by now if these figures are right.

 

2 things leap out immediately:

 

1, if our squad is worth ?60 million, then so is my car.

 

2, we get relegated and stay down for 2 seasons and we will be using the Reebok as pasture for local livestock.

 

 

We need to stay in the prem.

There is no way ED has ever pumped ?100m into this club, ?50m at most surely.

 

I haven't got the latest accounts yet.

 

Didn't he borrow money through his company in Bermuda to replace the bank debt of ?35m a couple of years ago?

 

Then financed the loss of ?30m last season.

 

I think that he originally loaned ?10m and financed the Anelka transfer ?8.5m.

 

That gets it up to ?83.5m.

 

There may be some interest after that, but it's probably less than we would pay the bank, in the unliklely event that we got a bank loan.

 

I can't praise the man enough.

Cahill 12m, lee 6m, ngog 5m, wheater 3m, holden 6m, muamba 4m, petrov 1m, m davies 2m, ricketts 1m, eagles & mears 3m, klasnic 1m, pratley 1m, reo coker 2m. All the rest are worthless imo, a couple of the above are generous too! 47 million at best imo.

Cahill 12m, lee 6m, ngog 5m, wheater 3m, holden 6m, muamba 4m, petrov 1m, m davies 2m, ricketts 1m, eagles & mears 3m, klasnic 1m, pratley 1m, reo coker 2m. All the rest are worthless imo, a couple of the above are generous too! 47 million at best imo.

 

Current market values.

Cahill 6m tops.

Lee, Holden, Ricketts, Mears: virtually worthless at present.

This little snippet on page 35 seems interesting

 

32. S ubsequent events

Since the balance sheet date the Club has acquired players? registrations for a cost of ?11,608,000 and will receive ?5,098,000

for the transfer of players? registrations.

 

I believe this is transfers in and out since 30 june this summer.

Is there any point analysing our figures? Without knowing the ins and outs of the Bermudan holding companies operations all we need to know is no matter how high the number its nearly all in the name of Eddie Davies. The banks would have foreclosed on us years ago if it wasn't for him.

 

What is more relevant is, as we have spunked 100m over the past 10+ years, have we had value for that cash and where would we have been without it ? Although our operational costs are down, I would guess the value of our squad has halved since Coyle arrived. His remit seems to be based on damage limitation within the clubs means, not that that was ever the case with Megson.

Current market values.

Cahill 6m tops.

Lee, Holden, Ricketts, Mears: virtually worthless at present.

 

Them values of mine werent actually taking into account the contract situation, so as you say in real terms its a lot worse

 

Either way our accounts are a fucking mess and always will be imo. If we stay up they will stay messy, if we go down they will probably get burned completley.

The experts at The Bolton Evening News have been through the accounts with a fine tooth comb...

 

http://www.theboltonnews.co.uk/sport/wanderers/wanderersnews/9336000.Wanderers_debt_hits___110_million/

 

Have we reduced our debt or has it increased?

This thread is just what I wanted to read after a long day at work.

 

Cheered me up no end...

 

Them values of mine werent actually taking into account the contract situation, so as you say in real terms its a lot worse

 

Either way our accounts are a fucking mess and always will be imo. If we stay up they will stay messy, if we go down they will probably get burned completley.

 

 

The NBV of the players is stated at 19 million which is probably more realistic. Where they got their estimate of 61 million from is anyone's guess.

The experts at The Bolton Evening News have been through the accounts with a fine tooth comb...

 

http://www.theboltonnews.co.uk/sport/wanderers/wanderersnews/9336000.Wanderers_debt_hits___110_million/

 

Have we reduced our debt or has it increased?

 

I think it is now clear that it has gone up, from 93 million to 110 million. We have had another fabulous year where we have made a paper loss of 26 million (down from 35 million loss we made last year).

 

Our net cash overspend last year was 17 million pounds so we have had to borrow more money from Ted.

 

And on that bombshell ....

Edited October 31, 201114 yr by Globetrotter

Makes the transfer strategy even more bizarre over the last 18 months. We splashed decent money under the ginger one but most of them are about to bugger off for naff all. Great work Phil/Owen

It is a bad set of accounts but everyone forgets that Eddie was netting interest of 10% which I think is now at 5% so every year he has been getting the money back over the last 10 years via interest payments, if Eddie stays around for the next 10 years and gets between 5-10 million back per year in interest payments then I dont think he is going to starve, and the majority of the debt will have been paid back and he still owns the club the office space, the assets such as the players etc, which he can cash in any time he wants to up sticks. In short the accounts do not mean a great deal its all smoke and mirrors Eddie and his money men have most bases covered in my opinion.

Edited October 31, 201114 yr by Mounts Kipper

Makes the transfer strategy even more bizarre over the last 18 months. We splashed decent money under the ginger one but most of them are about to bugger off for naff all. Great work Phil/Owen

 

You mean the strategy of reducing the wage bill, only spending what we bring in from player sales, refusing to be held to ransom by Elmander and accepting an offer of ?2M for a player who was out of contract and would have left for nothing at the end of the season? What's 'bizarre' about that?

I dont bother reading into clubs accounts, because it baffles me tbh. But how did we get into this debt? Why have other clubs of similar stature to ourselves coped so much better?

You mean the strategy of reducing the wage bill, only spending what we bring in from player sales, refusing to be held to ransom by Elmander and accepting an offer of ?2M for a player who was out of contract and would have left for nothing at the end of the season? What's 'bizarre' about that?

 

the fact it's all ending in tears?

 

aye, not bizarre, but oh so sad