RFC accounts for 2021/2 published

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tidus_mi2
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Re: RFC accounts for 2021/2 published

by tidus_mi2 » 09 Jun 2023 16:16

Stranded So under L1 rules, this 6m will be considered part of the clubs turnover along with the Puscas fee.

Not sure we're officially a League One side yet, seen suggestions on Twitter anyway that this might just be to cover costs over the Summer break when we have less income, I suppose even if that were the case, it's better than it being added as more debt.

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Re: RFC accounts for 2021/2 published

by Royals and Racers » 10 Jun 2023 09:14

Snowflake Royal
Royals and Racers Just had notification of a new posting re Reading FC and companies house title return of allotment of shares.- which was on May 2nd.
Anyone know if that’s important or a paperwork exercise ?

Geberally curious why you get notifications if you don't know what it means?

I get notifications so i can post upto date news- would you have posted it ??

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Snowflake Royal
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Re: RFC accounts for 2021/2 published

by Snowflake Royal » 10 Jun 2023 09:51

Royals and Racers
Snowflake Royal
Royals and Racers Just had notification of a new posting re Reading FC and companies house title return of allotment of shares.- which was on May 2nd.
Anyone know if that’s important or a paperwork exercise ?

Geberally curious why you get notifications if you don't know what it means?

I get notifications so i can post upto date news- would you have posted it ??

No. Because I wouldn’t understand what it meant.

The Royal Forester
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Re: RFC accounts for 2021/2 published

by The Royal Forester » 10 Jun 2023 12:19

tidus_mi2
Stranded So under L1 rules, this 6m will be considered part of the clubs turnover along with the Puscas fee.

Not sure we're officially a League One side yet, seen suggestions on Twitter anyway that this might just be to cover costs over the Summer break when we have less income, I suppose even if that were the case, it's better than it being added as more debt.

I think it must be July 1st. that teams officially change Divisions/tiers. The previous seasons League Tables always seem to change to next season's at that time. Aren't the player contracts up to the end of June as well?

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Re: RFC accounts for 2021/2 published

by blythspartan » 10 Jun 2023 15:54

The Royal Forester
tidus_mi2
Stranded So under L1 rules, this 6m will be considered part of the clubs turnover along with the Puscas fee.

Not sure we're officially a League One side yet, seen suggestions on Twitter anyway that this might just be to cover costs over the Summer break when we have less income, I suppose even if that were the case, it's better than it being added as more debt.

I think it must be July 1st. that teams officially change Divisions/tiers. The previous seasons League Tables always seem to change to next season's at that time. Aren't the player contracts up to the end of June as well?


Not saying you’re wrong but it would seem odd when fixtures come out in June. Yep, players contracts are up to the end of June so it’s Moore’s last payday with us this month.


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Re: RFC accounts for 2021/2 published

by YoungRon » 10 Jun 2023 16:57

blythspartan
The Royal Forester
tidus_mi2 Not sure we're officially a League One side yet, seen suggestions on Twitter anyway that this might just be to cover costs over the Summer break when we have less income, I suppose even if that were the case, it's better than it being added as more debt.

I think it must be July 1st. that teams officially change Divisions/tiers. The previous seasons League Tables always seem to change to next season's at that time. Aren't the player contracts up to the end of June as well?


Not saying you’re wrong but it would seem odd when fixtures come out in June. Yep, players contracts are up to the end of June so it’s Moore’s last payday with us this month.

Let me ask you. Are the contracts with ALL players valid until the end of June? There is still a winter transfer window, isn't it?

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Lower West
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Re: RFC accounts for 2021/2 published

by Lower West » 11 Jun 2023 20:55

Perhaps the funding is to see the club through the off season and into next. Cash was tight during the last. With two separate payroll payment problems. Clubs having to self report such instances and provide a full explanation. An embargo is the potential penalty.

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Sutekh
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Re: RFC accounts for 2021/2 published

by Sutekh » 12 Jun 2023 06:03

blythspartan
The Royal Forester
tidus_mi2 Not sure we're officially a League One side yet, seen suggestions on Twitter anyway that this might just be to cover costs over the Summer break when we have less income, I suppose even if that were the case, it's better than it being added as more debt.

I think it must be July 1st. that teams officially change Divisions/tiers. The previous seasons League Tables always seem to change to next season's at that time. Aren't the player contracts up to the end of June as well?


Not saying you’re wrong but it would seem odd when fixtures come out in June. Yep, players contracts are up to the end of June so it’s Moore’s last payday with us this month.


Surely you're a "whatever division you've been promoted/relegated to" club from the moment a season is over, yes there'll still be some admin/cosmetic type things hanging about until 30 June (as that date seems to be the logical one from when the media like to update things offcially) but in essence once a season is over and you know what's what for the next season then it's done.

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Snowflake Royal
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Re: RFC accounts for 2021/2 published

by Snowflake Royal » 12 Jun 2023 08:09

Lower West Perhaps the funding is to see the club through the off season and into next. Cash was tight during the last. With two separate payroll payment problems. Clubs having to self report such instances and provide a full explanation. An embargo is the potential penalty.

Both those payroll issues were about international money transfers around bank holidays and were quickly resolved.


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Re: RFC accounts for 2021/2 published

by Elm Park Kid » 12 Jun 2023 10:15

Snowflake Royal
Lower West Perhaps the funding is to see the club through the off season and into next. Cash was tight during the last. With two separate payroll payment problems. Clubs having to self report such instances and provide a full explanation. An embargo is the potential penalty.

Both those payroll issues were about international money transfers around bank holidays and were quickly resolved.


You would have to be monumentally incompetent to allow a bank holiday to delay your payroll..... +

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Anfield Royal
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Re: RFC accounts for 2021/2 published

by Anfield Royal » 12 Jun 2023 11:12

Elm Park Kid
Snowflake Royal
Lower West Perhaps the funding is to see the club through the off season and into next. Cash was tight during the last. With two separate payroll payment problems. Clubs having to self report such instances and provide a full explanation. An embargo is the potential penalty.

Both those payroll issues were about international money transfers around bank holidays and were quickly resolved.


You would have to be monumentally incompetent to allow a bank holiday to delay your payroll..... +


Exactly, and twice.

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Snowflake Royal
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Re: RFC accounts for 2021/2 published

by Snowflake Royal » 12 Jun 2023 14:37

I think we've established quite firmly that the club is run on an incredibly incompetent level over the last 10 years.

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On Strings
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Re: RFC accounts for 2021/2 published

by On Strings » 15 Jun 2023 10:01

Kieran Maguire - "Looks as if the owner has either (s) pumped in £6m to fund the club's losses, or (b) swapped £6m of loans (that the club would never be in a position to repay) for shares (which are worthless)."


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Re: RFC accounts for 2021/2 published

by windermereROYAL » 15 Jun 2023 11:28

On Strings Kieran Maguire - "Looks as if the owner has either (s) pumped in £6m to fund the club's losses, or (b) swapped £6m of loans (that the club would never be in a position to repay) for shares (which are worthless)."


He reckons we are still losing £2m a month, WTF did he get that figure from?

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pdr555
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Re: RFC accounts for 2021/2 published

by pdr555 » 15 Jun 2023 11:36



Anyone smarter than I explain this?

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On Strings
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Re: RFC accounts for 2021/2 published

by On Strings » 15 Jun 2023 11:47

windermereROYAL
On Strings Kieran Maguire - "Looks as if the owner has either (s) pumped in £6m to fund the club's losses, or (b) swapped £6m of loans (that the club would never be in a position to repay) for shares (which are worthless)."


He reckons we are still losing £2m a month, WTF did he get that figure from?


£40k a week, sounds about right. Moore etc aren't off the books until the end of the month.

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Re: RFC accounts for 2021/2 published

by YorkshireRoyal99 » 15 Jun 2023 12:33

On Strings
windermereROYAL
On Strings Kieran Maguire - "Looks as if the owner has either (s) pumped in £6m to fund the club's losses, or (b) swapped £6m of loans (that the club would never be in a position to repay) for shares (which are worthless)."


He reckons we are still losing £2m a month, WTF did he get that figure from?


£40k a week, sounds about right. Moore etc aren't off the books until the end of the month.


I presume you mean £400k a week?

It has been at this level for a number of years now. You'd think with all the restrictions we'd have had in place, we'd have seen this number drop significantly, especially in the last couple of years.

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On Strings
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Re: RFC accounts for 2021/2 published

by On Strings » 15 Jun 2023 12:41

YorkshireRoyal99
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windermereROYAL
He reckons we are still losing £2m a month, WTF did he get that figure from?


£40k a week, sounds about right. Moore etc aren't off the books until the end of the month.


I presume you mean £400k a week?

It has been at this level for a number of years now. You'd think with all the restrictions we'd have had in place, we'd have seen this number drop significantly, especially in the last couple of years.


Read it as £2m a year, apols. How in the holy world of shit can a Champ/L1 club lose £400k a week? :shock:

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Re: RFC accounts for 2021/2 published

by YorkshireRoyal99 » 15 Jun 2023 12:45

On Strings
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£40k a week, sounds about right. Moore etc aren't off the books until the end of the month.


I presume you mean £400k a week?

It has been at this level for a number of years now. You'd think with all the restrictions we'd have had in place, we'd have seen this number drop significantly, especially in the last couple of years.


Read it as £2m a year, apols. How in the holy world of shit can a Champ/L1 club lose £400k a week? :shock:


We aren't/weren't the only ones. Reports were suggesting that both Birmingham and Bristol City were losing about £600k and £450k a week respectively, although that was about a year ago now.

As mentioned, with all the restrictions we've had in place over the last couple of years and more, it's surprising to see this number is still so high. But maybe that's the levels for a lot of Championship clubs on their day-to-day operations.

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Re: RFC accounts for 2021/2 published

by Clyde1998 » 15 Jun 2023 17:41

On Strings
YorkshireRoyal99
On Strings
£40k a week, sounds about right. Moore etc aren't off the books until the end of the month.


I presume you mean £400k a week?

It has been at this level for a number of years now. You'd think with all the restrictions we'd have had in place, we'd have seen this number drop significantly, especially in the last couple of years.


Read it as £2m a year, apols. How in the holy world of shit can a Champ/L1 club lose £400k a week? :shock:

I think the last accounts showed a ~£17m loss (~£20m excluding transfers). That's £384k per week excluding transfers, down from around £540k per week in the previous season (albeit that was Covid affected).

The problem has been trying to compete with clubs with parachute payments and much higher organic revenues than us when our parachute payments came to an end and our organic revenues were declining.

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