With! No thread on the accounts yet?

thegazzyb said:
This :
“The directors continue to maintain close control over cash flow and continue to develop and maintain policies with the aim of ensuring the club is run in a sustainable and successful manner."
This :
“Shortly after the year end, the club sold three players for a profit of £22.6million. Clearly, if these sales had been made before 30th June 2019, this would have removed a large portion of the loss for the year.”
And most importantly this :
“The club sees retention of key staff as a key ingredient to success and the directors consider the financial position of the company to be satisfactory."

If the directors are happy and they are aware of their exposure then frankly I'm happy too. We will always be dependent upon a sympathetic and generous benefactor as pretty much EVERY CLUB these days will be.

To refactor a Ken Tyrrell quote for football purposes :
"The only way to make a small fortune in football is to start with a big one !"

Pretty much every team would be in the brown stuff if their benefactor pulled the plug on them. Fortunately there seem to be enough wealthy loonies out there prepared to burn money by owning their own football club.

Nobody knows how long Max will consider his investment in AFCB to be worthwhile but for now I'm just glad that we have him and will leave the worrying to him. There is nothing we can do about AFCB's finances anyway, so there is absolutely no point in losing sleep over them if Max doesn't.
Click to expand...

I hardly expect an official press release to end with "Max Demin was shocked to see the amount lost this season and the entire board is in panic."

Meanwhile in the widely accepted to be balanced view of the Athletic:
"Why Bournemouth’s accounts make for worrying reading – The Athletic" https://theathletic.com/1687477/2020/03/20/bournemouth-demin-finances-relegation-losses-profit/?amp
 
Page 7 of the accounts. This is the first page of the auditors report. The auditors report is simply wrong. I know the auditors come from Scumland so it is to be expected.

The auditors say "the directors have not disclosed in the financial statements any identified material uncertainties that may cast significantly doubt about the Company's ability to continue to adopt the going concern basis of accounting for a period of at least 12 months from the date when the financial statements are authorised for issue".

Given the accounts were signed off on 11 February 2020, surely the financial consequences of being relegated is a very much a material uncertain financial risk in the next 12 months from 11 February 2020.

The accounts would have been helped if it included in the Directors Report, a statement from Max Denim that he would give 100% financially backing to the club through the coming season and beyond.
 
paul49 said:
Of this £100m £41m is repayable in August 2020, £26m in January 2024 with £33m on demand. Hopefully Max won't want his money back in August. We sold Tyrone last year to 2/3 clear the previous year's loss. Does that mean we will have to sacrifice someone else come the summer,
Click to expand...

The Mings transfer fee which is being paid in instalments by Villa was used as security for a bank loan to pay for the training ground. So once the Mings transfer fee is actually paid it goes to the bank and we are no better off apart from a training ground which probably not bring us in much income, after running costs.
 
Resevoir_Red said:
The panic would be we have no good players or matchwinners left and be in the Championship with no TV money, when you add Fraser going for nothing aswell.
Click to expand...

Don’t we get Two years of parachute payments and the dream midfield axis of Surman and Gosling :)
 
I remember the parachute payments increasing per year but dropping in duration, is it really down to just two years?
 
Parachute payments for 20/21 and 21/22 seasons are currently set at £75 mill for each season. That is still millions short to cover the current salary bill let alone all the other costs
 
The Flying Picket said:
Parachute payments for 20/21 and 21/22 seasons are currently set at £75 mill for each season. That is still millions short to cover the current salary bill let alone all the other costs
Click to expand...

It's common practise for players to have 50% cut clauses in the contracts, I'd be surprised if ours didn't. Still touch and go though probably.
 
The Flying Picket said:
Parachute payments for 20/21 and 21/22 seasons are currently set at £75 mill for each season. That is still millions short to cover the current salary bill let alone all the other costs
Click to expand...

Players tend to have huge salary cuts in their contracts. The trade offs to agree to those however are relegation release clauses with agreed fees.

If the numbers are done right it should prevent the need for a fire sale.
 
DJ said:
Players tend to have huge salary cuts in their contracts. The trade offs to agree to those however are relegation release clauses with agreed fees.

If the numbers are done right it should prevent the need for a fire sale.
Click to expand...
If,being the operative word
 
AFCBade said:
Sheffield fans in meltdown at low value at the time so they didn’t agree with the accountants
Click to expand...

I guess it's the difference between 'market value' and value to you.

What's the value of a lightweight dynamic creative attacking midfielder when all you do is lump the ball forward?
 
You must log in or register to reply here.

;