Notts County financial results

[gijsbert_bos]

Ouch


Notts County made a loss of £1.5 million last season, and are currently losing £30,000 per week. Notts also owe £4.3 million to parent company Paragon.

(@KieranMaguire) #Notts https://t.co/MrS85a3dNd

 

[Trapdoor]

Thems good sustainable figures if you have a sugar daddy.

 

[Wooderson]

No surprise, Hardy said when he took over the club was currently losing £1.5m a year (which doesn't even seem that much in this day and age, I'd be surprised if many clubs in this division make a profit without cash injections from the owners), and those figures only cover half his reign so far (took control in Jan).

 

[Kenneth E End]

Notts County made a loss of £1.5 million last season, and are currently losing £30,000 per week.

Brain of Britain here folks.

 

[The_Viking_Magpie]

Cancel the season!

 

[Indian Dan]

Here’s a snapshot of some other clubs

Luton Town made a loss of £1,644,958 for 2016-2017

2015-2016: £739,710 Loss
2014-2015: £1,480,814 Loss
2013-2014: £2,961,035 Loss

Over the same period Lincoln City made a pre tax profit of £1.3m

Pre Tax Profit of £1.3m
FA Cup Commercial Revenue after Costs £2m
Historic debts Cleared
96% rise in expenditure
Turnover increased by over £3m

Turnover: £4,681,977 (£1,341,222)
Staff Costs: £2,562,406 (£1,160,855)
Profit: £1,279,598 (£418,849 Loss)
The figures in brackets are for the previous season.

FGR made a loss of 2016 loss: £2,483,624
Their total wage bill, including players, football and non-football staff, was £2.4 million.
Thats a loss of £46k per week.

Chesterfield made a loss of £506,735 for the 2016/17 financial period.

 

[The_Viking_Magpie]

Thanks Dan for that.

It’s pretty much a non story tbh, lower league club loses money last season, and this, plus money owed chairman’s company.

Shock, horror.

However, would hope the cash flow looks healthier this term thanks to increased average home attendances this season

 

[Trapdoor]

I think even we have technically lost money this season, although I cant remember the figure.

 

[AdamStag]

Brain of Britain here folks.

Being pedantic, £1.5 over a year is £28,846 a week, so not quite the £30,000

Still with the added bonus of large away followings and a good shot of the playoffs maybe they'll only lose £750,000 to £1m this year. The women's team must have cost a lot also

 

[The_Viking_Magpie]

Halving the loss is perhaps unlikely and asking too much but would be a fantastic effort by the club/fans

 

[Indian Dan]

It’s the nature of the lower league beast. Get a bit of success, increase your debt by upgrading playing staff, stagnate, owner gets fed up of chasing that dream. Roll over and start again.

Football, and football clubs success/failure, is cyclical. Always has been. Occasionally a set of circumstances align and a club does well. Very rarely does that club progress to beyond its historical position - without oceans of new investor cash. Bournemouth being a prime example. It’s only laundered Russian mob money keeping them going. When they get kicked out of the UK it’ll all come tumbling down and their buckets will rattle again.

 

[jacobncfc]

No surprise, Hardy said when he took over the club was currently losing £1.5m a year (which doesn't even seem that much in this day and age, I'd be surprised if many clubs in this division make a profit without cash injections from the owners), and those figures only cover half his reign so far (took control in Jan).

Aye, next year’s will be more interesting, hopefully start moving in the right direction.

 

[gijsbert_bos]

Brain of Britain here folks.

It's a copy of a tweet you pillock.

 

[gijsbert_bos]

It’s the nature of the lower league beast. Get a bit of success, increase your debt by upgrading playing staff, stagnate, owner gets fed up of chasing that dream. Roll over and start again.

Football, and football clubs success/failure, is cyclical. Always has been. Occasionally a set of circumstances align and a club does well. Very rarely does that club progress to beyond its historical position - without oceans of new investor cash. Bournemouth being a prime example. It’s only laundered Russian mob money keeping them going. When they get kicked out of the UK it’ll all come tumbling down and their buckets will rattle again.

Is it? We got in trouble once - ITV Digital time - and have cut our cloth accordingly ever since. County are constantly financially doping. Does it not seem odd that we are competing with teams who are effectively cheating by overspending every year?

 

[Youpies]

Chairman can spend their money as they wish tbf.

All well and good being on a high horse when you got 2m in FA cup monies

 

[The_Viking_Magpie]

OMG, I’m embarrassed reading that

Financial doping

 

[shoddycollins]

Here’s a snapshot of some other clubs

Luton Town made a loss of £1,644,958 for 2016-2017 but with the lowest net spend in the division due to receiving £1.83m in transfer fees not including the final installment of the Andre Gray money, or any money for Issac Vassel which will come to £487,000 per season over the next 6 seasons. A small portion of this money has been used to pay the likes of Berry, Collins and Hylton a wage only 5% over the average League Two player's wage while 76% of that money has been invested in a top quality academy which has won awards and which Arsenal and Spurs have both sent people to learn how a good academy should be run. The loss was almost entirely incurred through the purchase of land for the new 53,000 capacity stadium which is close to receiving planning permission and with several hospitality packages already sold for a £744,000 each per season could be paying for itself before it is even built.

Over the same period Lincoln City made a pre tax profit of £1.3m and a post tax profit of £2.7m. Payments to agents £350,000
Payments to staff/referees £4.6m
Payments for image rights to the 1980's Wimbledon Team £3m
Payments to Lincolnshire police for the Lincoln/Grimsby match £2m
Payment to the UFC to host Matt Rhead. £55m

FGR made a loss of 2016 loss: £2,483,624
Their total wage bill, including players, football and non-football staff, was £2.4 million.
Their quinoa bill was £3 million, but this has been earned back through sales of season tickets in Cheltenham, Ecotricity shares and pies.

Chesterfield made a loss of £506,735 for the 2016/17 financial period which includes the writing off of assets such as Dave Allen's respect for the fans and Gary Caldwell's dignity.

Fixed that for you.

 

[Kenneth E End]

£20.2m has been invested in the club as share capital since 2020 took over in 2008 and are committed to carry on doing so. Were very grateful to have them. With the stadium and other developments costing £150m++ it’s a drop in the ocean.

 

[Wooderson]

'Financial doping' alert! Coventry made a £1.1m loss.

https://www.google.co.uk/amp/s/www....ntry-city-football-club-accounts-14356814.amp

 

[valefan16]

Port Vale actually made a rare profit of £468k despite relegation, in part thanks to the sale of Jak Alnwick to Rangers (£250k) and Anthony Grant to Peterborough (£100k) as well as exclusivity payments of £100k

In line with company requirements to file annual accounts Port Vale Football Club Limited submitted its accounts for the year ending the 30th June 2017 to Companies House on the 31st March 2018.

Also to comply with the Football Association Rules & Regulations and the English Football League Regulations, copies of the accounts were sent to both footballing organisations.

The accounts show an improved net liabilities position after the club made a profit of £466, 343 during the year to 30th June 2017, this was due to players sales of circa £390,000 and the exclusivity payments received of £100,000.

However, the current year continues to be a tough one due to decreased revenues but similar playing budget and other overhead expenses. Although there is again income from player sales in this year the payment is being received in deferred instalments.

 

[AdamStag]

We lost £10k last season, and £74k the year before that.

I dare say it might be somewhat higher this season

 

[The_Viking_Magpie]

Financial doping! I love it

 

[AdamStag]

Financial doping! I love it

I think Munto finance would fall quite comfortably under such an umbrella. But the FA and their fit and proper test is a joke to start with, and most clubs have rich owners (not to the same extent)

I do believe the FA or the league should introduce a rule that if any club falls into admin within a decade of previously doing so, that their points dedication penalty is doubled.

 

[LongEatonPie]

I thought there was a rule like that already? I am sure a club (was it portsmouth) got a points deduction and then again a couple of seasons later. I dunno, I might have dreamt it

 

[valefan16]

I thought there was a rule like that already? I am sure a club (was it portsmouth) got a points deduction and then again a couple of seasons later. I dunno, I might have dreamt it

Think that was to do with the CVA failing. Leeds and Luton got hit with the extra 15 points for it I recall. We avoided it partly because a lot of debt was too fans in shares but if the HMRC are the main creditor you usually can't pass the CVA and then the EFL add on the -15 points.

 

[The_Viking_Magpie]

Munto finance brought us a title and a fantastic fun season of football. What a thrill ride for the fans that season was . The likes I predict will never be seen again in L2.

Loads of teams have gained promotion or benefited hugely from administration, Leicester City being a high profile example. It happens. And shock horror most clubs owe big money to rich owner(s) and/or their associated companies.

Such a non story from the off, am I meant to be concerned as a fan?

 

[shoddycollins]

We lost £200,000 last season, having made a small profit the season before, though that profit was a rare one for us, mainly through the sales of Kyle Dempsey and Brad Potts. Another factor was losses incurred due to flooding.

 

[shoddycollins]

Munto finance brought us a title and a fantastic fun season of football. What a thrill ride for the fans that season was . The likes I predict will never be seen again in L2.

Loads of teams have gained promotion or benefited hugely from administration, Leicester City being a high profile example. It happens. And shock horror most clubs owe big money to rich owner(s) and/or their associated companies.

Such a non story from the off, am I meant to be concerned as a fan?

Administration can be a good thing if the problem is the owner themselves.

 

[Kenneth E End]

Think that was to do with the CVA failing. Leeds and Luton got hit with the extra 15 points for it I recall. We avoided it partly because a lot of debt was too fans in shares but if the HMRC are the main creditor you usually can't pass the CVA and then the EFL add on the -15 points.

No just Leeds. For trying to play the system.

Rotherham and Bournemouth got -17 for going into admin twice and we got -20 for the third time.

All voted for by Barnet’s chairman Kleanthous who’s club are directly affected by the result.

 

[Kenneth E End]

Administration can be a good thing if the problem is the owner themselves.

Precisely. One of our administrations were forced by the fans for forcing out Gurney who, when he paid for the club, forgot to do due diligence showing there was a debenture.

What a mobby.