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Club for sale etc.

Discussion in 'City Talk' started by Norman Corner, Oct 20, 2023.

  1. Captain Grumpy

    Captain Grumpy Impact Sub
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    The club started publishing more detailed accounts a couple of years ago, there is zero evidence that Rupp takes money out,that was done to death a year ago and disproved. I do believe he hasn’t been paid back his £1.6 million loan and I believe it’s interest free, not 9% as a certain owner took out indefinitely.
     
  2. Park bantam

    Park bantam Regular Starter
    P.L.22/23 Entrant

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    Yes
     
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  3. Storck

    Storck Regular Starter

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    So just the extra £1.6m debt?
     
  4. Faithful Bantam

    Faithful Bantam Squad Player

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    Added to which, we don't own our ground and the longer term position regarding lease, moving etc us uncertain. And we're clearly in need of serious rework with the playing squad. We're going backwards on the pitch. All of these things have a bearing on our 'financial health'.
     
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  5. Park bantam

    Park bantam Regular Starter
    P.L.22/23 Entrant

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    It’s internal debt and Rupp has shown no desire to call it in. But even with that we are better off than most who must be spending large sums servicing their debt
     
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  6. Storck

    Storck Regular Starter

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    suppose it depends on what you call internal. I would read that as to a company owned by the company but our debt is to the owner. So if the club is sold it will still owe him £1.6m, or however much it is. So that would be on top of the purchase orice
     
  7. Kevin1954

    Kevin1954 Squad Player
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    That’s where he exits stage left and tries to talk about the weather. ;).
     
  8. Kevin1954

    Kevin1954 Squad Player
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    Dont guess, he hasn’t!
     
  9. Kevin1954

    Kevin1954 Squad Player
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    Financially , that’s not correct FB, however on the grass, of course you are correct. However if you don’t have the former as the building block of the business the latter won’t exist .
     
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  10. Kevin1954

    Kevin1954 Squad Player
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    Remember that Park , not a pot to pizz in!
     
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  11. Dennis

    Dennis Captain
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    And according the club and its CEO (rather than what some posters on here say), we haven't increased our playing budget this coming season from the levels in the 2020/21 and 2021/22 seasons.
     
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  12. Park bantam

    Park bantam Regular Starter
    P.L.22/23 Entrant

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    Still in the top 4or 5 every year and let’s not forget the rising cost to businesses up and down the country forcing many out of business
     
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  13. Dennis

    Dennis Captain
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    And how would you justify saying that when the CEO has already acknowledged that there are clubs this season with £4mill playing budgets. Do you believe that there is such a huge drop between a Top 3 budget and a 4th place budget?
     
  14. Faithful Bantam

    Faithful Bantam Squad Player

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    Not even in line with inflation? I.e. we've reduced the playing budget in relative terms
     
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  15. Rogered Tart

    Rogered Tart Regular Starter
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    Its 'competitive' m8, what more do you want?
     
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  16. Dennis

    Dennis Captain
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    Per the club's financial reports and a quote from Sparks in a recent interview

    2020/21 £2.7mill
    2021/22 £2.9mill
    2022/23 £? Not yet published
    2023/24 £2.8mill

    Edited: 2019/20 £2.9mill

    But we're a growing business!
     
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  17. Storck

    Storck Regular Starter

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    And our income has risen so we keep getting told and some of us are paying more for our tickets
     
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  18. Faithful Bantam

    Faithful Bantam Squad Player

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    Hopefully the penny is landing with all, that we're being had over by our 'proud custodians'
     
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  19. bailiff bridge bantam

    P.L.22/23 Entrant Euro 2020

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    And we don’t accept medio…… blah blah blah.
     
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  20. Dennis

    Dennis Captain
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    Again, according to the club's financial statements and the CEO, the club's income ovrr the same periods were

    2020/21 £5.4mill
    2021/22 £7.0mill
    2022/23 £? Not yet published
    2023/24 £8.3mill

    Income is certainly expected to increase from a combination of higher tickets sales and increased commercial income. And I applaud the Commercial Director and his team for doing that.

    In simple terms, overall revenue is expected to increase this season by a little over 50% since 20/21 whilst the playing budget has barely changed. That can only be explained imo by a conscious decision to reduce the relative amount of resources dedicated to the club's core activity of playing footie. To illustrate that, in 2020/21, the playing budget was about the same as the SCMP cap. This coming season it is about two-thirds of the SCMP cap.
     
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