CONFIMRED

[tidus_mi2]

£20m loss, the 2024 accounts are due next week, if we still have a club next season we`ll probably start on minus points.

Bear in mind that facilities don't count towards P+S rules and I believe are a significant part of our losses, so it might not be quite so bad in terms of the P+S rules.

[Snowflake Royal]

On the "local journalist" bit...

I expect there's a different threshold for fact checking between what's reported in the news and what is speculation and discussion during a sports programme.

Dellor can only talk about what's he's told, by whom, and how it may relate to other things.

I'm sure he's appreciate a chat with Couhig or his representatives to get their side of the story.

But, I also admit, he is sometimes a bit lacking in caution, which could make his job difficult should Couhig manage to take over/

It's fully within his character to never correct mistakes.

It's constant in his shit description of events on the pitch.

[Snowflake Royal]

£20m loss, the 2024 accounts are due next week, if we still have a club next season we`ll probably start on minus points.

This would presumably be for the last Championship season, not the first L1 season, which will be due shortly, right?

How the oxf*rd have we lost £20m with our wages capped to £16m and a conservatively estimated income of about £12m in the Championship ffs?

[Tinpot Royal]

£20m loss, the 2024 accounts are due next week, if we still have a club next season we`ll probably start on minus points.

This would presumably be for the last Championship season, not the first L1 season, which will be due shortly, right?

How the oxf*rd have we lost £20m with our wages capped to £16m and a conservatively estimated income of about £12m in the Championship ffs?

Yes this is the relegation season, wages came in at £24.5m, turnover at £18.6m

[Snowflake Royal]

£20m loss, the 2024 accounts are due next week, if we still have a club next season we`ll probably start on minus points.

This would presumably be for the last Championship season, not the first L1 season, which will be due shortly, right?

How the oxf*rd have we lost £20m with our wages capped to £16m and a conservatively estimated income of about £12m in the Championship ffs?

Yes this is the relegation season, wages came in at £24.5m, turnover at £18.6m

What were we spending the other ~£15m quid on!?

[Mid Sussex Royal]

£20m loss, the 2024 accounts are due next week, if we still have a club next season we`ll probably start on minus points.

Doesn't the second -6 which relegated us include the period just reported, I know it wasn't final audited figs but I believe we failed some budget the EFL set us which triggered the points deduction. So if they docked us again it would be twice.

Also the FFP rules are a 3 year rolling average and when you are deducted points the cycle starts again.

Please correct if I am wrong.

[windermereROYAL]

Well we`ve been removed from the current EFL embargo list, well at least until the next accounts are due, which I believe is March 31st.

[Lower West]

The accounts for the period ending 30th June 2023 have been filed, which feels like a positive step.

Still no sign of the 2023 accounts for the UK parent company - RENHE SPORTS MANAGEMENT CO LIMITED

The football club itself is little more than a shell.

[Snowflake Royal]

Well we`ve been removed from the current EFL embargo list, well at least until the next accounts are due, which I believe is March 31st.

Yay, we can sign players, for the future we don’t have

[Hound]

Huang Kad has just said everything will be ok so I’m calm about it all

[Greatwesternline]

This would presumably be for the last Championship season, not the first L1 season, which will be due shortly, right?

How the oxf*rd have we lost £20m with our wages capped to £16m and a conservatively estimated income of about £12m in the Championship ffs?

Yes this is the relegation season, wages came in at £24.5m, turnover at £18.6m

What were we spending the other ~£15m quid on!?

Stadium depreciation and Training Ground depreciation. Amortisation of transfer fees. Agents fees. Interest on loans to Dai.

[WestYorksRoyal]

This would presumably be for the last Championship season, not the first L1 season, which will be due shortly, right?

How the oxf*rd have we lost £20m with our wages capped to £16m and a conservatively estimated income of about £12m in the Championship ffs?

Yes this is the relegation season, wages came in at £24.5m, turnover at £18.6m

What were we spending the other ~£15m quid on!?

We still had Moore, Meite, Joao, Ejaria and Puscas on the books.

Even with that I'm surprised how big the number is, as the EFL had been controlling us for several years by that point. Were staff and academy wages included?

[windermereROYAL]

The cynic in me says that they`ve only released this because they don`t want to be 2 years in arrears next week. but the fact they`ve done it at all can only be encouraging news, why would they do it if we`re on the brink?

[Snowflake Royal]

Yes this is the relegation season, wages came in at £24.5m, turnover at £18.6m

What were we spending the other ~£15m quid on!?

Stadium depreciation and Training Ground depreciation. Amortisation of transfer fees. Agents fees. Interest on loans to Dai.

What transfer fees, we hadn't paid any for years.

What ground depreciation, it was bought and paid for decades ago and is no longer part of the club.

[Snowflake Royal]

Yes this is the relegation season, wages came in at £24.5m, turnover at £18.6m

What were we spending the other ~£15m quid on!?

We still had Moore, Meite, Joao, Ejaria and Puscas on the books.

Even with that I'm surprised how big the number is, as the EFL had been controlling us for several years by that point. Were staff and academy wages included?

All covered by wages. Yes, the accounts would include staff and academy wages in that figure, it's a little different to the FFP figure on that basis... but ~£8m added on for it is a LOT.

And it doesn't explain the difference between the wages, less turnover and loss.

[Greatwesternline]

What were we spending the other ~£15m quid on!?

Stadium depreciation and Training Ground depreciation. Amortisation of transfer fees. Agents fees. Interest on loans to Dai.

What transfer fees, we hadn't paid any for years.

Transfer fees are accounted for over the life of the players contract. We've been over this, many, many times.

So a player bought for £4m on a 4 year contract signed in 2019 that ends in the 2023 season will have a £1m transfer fee accounted for in 2022-23.

In that season there was £4.5m of transfer fee amortisation. i.e. transfer fees hitting the clubs income statement.

[Hound]

We made a loss of nearly 3m on transfers, with only 1.6m coming in

The 8m in ‘22 - that was the Olise sale right - and paid for in one go?

[stealthpapes]

Stadium depreciation and Training Ground depreciation. Amortisation of transfer fees. Agents fees. Interest on loans to Dai.

What transfer fees, we hadn't paid any for years.

Transfer fees are accounted for over the life of the players contract. We've been over this, many, many times.

So a player bought for £4m on a 4 year contract signed in 2019 that ends in the 2023 season will have a £1m transfer fee accounted for in 2022-23.

In that season there was £4.5m of transfer fee amortisation. i.e. transfer fees hitting the clubs income statement.

Do you have the information to hand please about how much we've 'spent' on each of the categories listed:

Stadium depreciation and Training Ground depreciation.
Amortisation of transfer fees.
Agents fees.
Interest on loans to Dai

Cheers

[Snowflake Royal]

Stadium depreciation and Training Ground depreciation. Amortisation of transfer fees. Agents fees. Interest on loans to Dai.

What transfer fees, we hadn't paid any for years.

Transfer fees are accounted for over the life of the players contract. We've been over this, many, many times.

So a player bought for £4m on a 4 year contract signed in 2019 that ends in the 2023 season will have a £1m transfer fee accounted for in 2022-23.

In that season there was £4.5m of transfer fee amortisation. i.e. transfer fees hitting the clubs income statement.

I'm aware of that, but how does it add up to so much given we hadn't paid a fee for years. Even £4.5m fees leaves about £10m of other costs.

It's insane how bad our finances were even after years of pressure, embargos and business plans.

[Greatwesternline]

On the face of the accounts there is:

18m of revenue.
7.6m profit on sale of investments (No idea what this was, a company or something)
1.6m profit on sale of players.

(24m) in salaries.
(4.8m) in amortisation This is transfer fees
(8m) intercompany loan provision. Don't know what this is, not much explanation, providing for a bad loan with RFC group?

There is 9m extra costs.

Digging into other pages some of that is:
50k of interest.
65k on intangibles, probably agents fees as part of signing people on frees, or signing on payments.
300k of depreciation on club owned assets.
1.5m on operating lease. That'll be rent for the stadium.
458k for director remuneration
700k impairment (writing off) transfer fees of players released early or sold.
150k on pensions of club employees


We appear too have sold some subsidiary that was worth 3.7m (this would be where that 7m of profit came from up top)


If you add all that up you get to a loss of £12m, there is another 9m in admin costs buried that isn't disclosed. Strange.