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The filed accounts state that the Company has “taken advantage of the exemption under FRS 102 to not disclose transactions with Aspire Media Group Limited” . The Col U debt has increased massively, but for what?
£3.6M loss when gates were up about 50% or more? Really?
I am not surprised about another year of loss. To much dead wood laying about up there . Players who never get a game who are usually injured. Pointless loanees, what I have seen with the performances they should all be on minimum wages.
It appears that the majority of the new debt is interest on the old debt...which is interesting.
I missed that, page 13, interest rates that ranged from 8.25% to 7.25%, so on £40M is that the club being charged around £3M a year in interest, by……………..erm?
With all the reported global interest in the club, I just can’t understand why it hasn’t been snapped up yet?
Apart from 2 relegations, a rundown stadium, fans crowd funding maintenance, 20 years of dross entertainment, the longest run of any EFL club to avoid promotion and an academy that produces no players that can help us out of L2, what has the £41M ever done for us?
Seriously, what have we had for £41M? At what stage is it fair to accept that this is taking the piss?
Changing the subject, how about an Easter Quiz: How many of the last 20 clubs to be promoted from L2 were able to attract good players because of their Cat 2 academy?
Remember BBC Essex doing a commentary from Crewe ( who had a much famed academy, thought later it was reported had serious personal issues ) , had a framed team picture of the first league game in which ALL players had progressed through the academy .
Sadly the U’s academy has never come nowhere near close although the blue print was for half the team to be made up of academy players and the rest of senior pros
Long time lurker, first time poster. Motivated to register by this topic which was much debated in my Col U whatsapp group!
I see it slightly different from other people. Whilst we have made a c.£3.65m loss, from what you can see from the football club accounts (its slightly difficult to tell as they aren't fully detailed) this is made up of:
c.£3m of interest payable to a related party (see below) c.£150k of amortisation of historical transfer fees (basically writing off historical transfer fees - this is a non cash expense). Separate from that, we spent c.£41k on transfer fees that season and sold players for c.£114k. Depreciation of fixed assets - £116k (another non cash expense) c.£400k of actual cash loss.
Robbie previously explained at a season ticket holder event that the interest on his loans is effectively "if we get to the Premier League" money - but as long as that doesn't happen, its a meaningless, paper transaction. Its basically make believe loss.
Whilst one way of looking at the accounts is we are making massive losses, the other way is that we lost c.£400k in cash terms. The accounts for the hospitality business aren't available yet but its unclear how its really doing as the hospitality business seems to have morphed into a largely property development company. The theory would be, I assume, that the hospitality element of the stadium should be able to run at break even under new ownership if held on a stand alone basis?
In reality I think the interest is making us appear a much more unattractive proposition than we are. Given the increased crowds and reduced budget this year, its not impossible that in cash terms we are close to break even this season given the results last season.
Perhaps its not Cowling propping us up any more, but Cowley propping up Cowling?
Long time lurker, first time poster. Motivated to register by this topic which was much debated in my Col U whatsapp group!
I see it slightly different from other people. Whilst we have made a c.£3.65m loss, from what you can see from the football club accounts (its slightly difficult to tell as they aren't fully detailed) this is made up of:
c.£3m of interest payable to a related party (see below) c.£150k of amortisation of historical transfer fees (basically writing off historical transfer fees - this is a non cash expense). Separate from that, we spent c.£41k on transfer fees that season and sold players for c.£114k. Depreciation of fixed assets - £116k (another non cash expense) c.£400k of actual cash loss.
Robbie previously explained at a season ticket holder event that the interest on his loans is effectively "if we get to the Premier League" money - but as long as that doesn't happen, its a meaningless, paper transaction. Its basically make believe loss.
Whilst one way of looking at the accounts is we are making massive losses, the other way is that we lost c.£400k in cash terms. The accounts for the hospitality business aren't available yet but its unclear how its really doing as the hospitality business seems to have morphed into a largely property development company. The theory would be, I assume, that the hospitality element of the stadium should be able to run at break even under new ownership if held on a stand alone basis?
In reality I think the interest is making us appear a much more unattractive proposition than we are. Given the increased crowds and reduced budget this year, its not impossible that in cash terms we are close to break even this season given the results last season.
Perhaps its not Cowling propping us up any more, but Cowley propping up Cowling?
Wise words, and added to that, the main man is on record as saying the Cat 2 Academy costs £2M a year, so it is possible to see how the club could be run without big losses, real or imaginary.
Mind you, if you’re selling to ‘yanks’ I guess it doesn’t really matter, because if they are dumb enough to believe that they have just ‘won’ a war with Iran, then they’ll believe any shite.
If only football was the same as world politics, make a complete Horlicks of something, spend billions to end up worse off than when you started, and you can claim a massive victory. If we replace DC with Hegseth, we could be in the premiership within 3 years.
PS: If you take a look at the 'group' accounts it's not hard to see why the budget was cut last year.
Long time lurker, first time poster. Motivated to register by this topic which was much debated in my Col U whatsapp group!
I see it slightly different from other people. Whilst we have made a c.£3.65m loss, from what you can see from the football club accounts (its slightly difficult to tell as they aren't fully detailed) this is made up of:
c.£3m of interest payable to a related party (see below) c.£150k of amortisation of historical transfer fees (basically writing off historical transfer fees - this is a non cash expense). Separate from that, we spent c.£41k on transfer fees that season and sold players for c.£114k. Depreciation of fixed assets - £116k (another non cash expense) c.£400k of actual cash loss.
Robbie previously explained at a season ticket holder event that the interest on his loans is effectively "if we get to the Premier League" money - but as long as that doesn't happen, its a meaningless, paper transaction. Its basically make believe loss.
Whilst one way of looking at the accounts is we are making massive losses, the other way is that we lost c.£400k in cash terms. The accounts for the hospitality business aren't available yet but its unclear how its really doing as the hospitality business seems to have morphed into a largely property development company. The theory would be, I assume, that the hospitality element of the stadium should be able to run at break even under new ownership if held on a stand alone basis?
In reality I think the interest is making us appear a much more unattractive proposition than we are. Given the increased crowds and reduced budget this year, its not impossible that in cash terms we are close to break even this season given the results last season.
Perhaps its not Cowling propping us up any more, but Cowley propping up Cowling?
An extra 1,000 on the gates will be, give or take, an extra £400,000 or so in a season, so you may not be wrong there.
I know it's been widely reported, and even came from the horse's mouth himself, that the budget would be reduced this season but in terms of the playing squad I'm not sure how there's been much of a reduction:
- 17 of our main first team squad were under contract - 3 accepted a new deal (Flanagan, Vincent-Young, Terry) - 6 permanent signings (Tucker, Baldwin, Akande, Gape, Perry, Williams) - 1 loan signing (Goodwin) - 6 loan signings to cover injuries (Powell, Araujo, Back, Barbrook, Akachukwu, Mbick)
- 2 released (Goodliffe*, Bendle) - 4 loanees returned to parent club (McDonnell, Simpson, Scully, Aboh) - 3 rejected new deal (Kelleher, Egbo, Taylor) - 1 sold (Thorn)
I haven't included players like Oni, Harvey, Kuffour Jr and Jolliffe in the above.
I'm just struggling to see how this year's squad is costing us less than last year's squad unless Taylor, Egbo and Kelleher were on massive money. I imagine Taylor was probably the highest paid player at the club and we know that his offer was reduced, possibly more than once, but we also know that Egbo's offer was on the same level as it had been previously.
*I thought Goodliffe was sold but Wikipedia said otherwise
Wise words, and added to that, the main man is on record as saying the Cat 2 Academy costs £2M a year, so it is possible to see how the club could be run without big losses, real or imaginary.
Mind you, if you’re selling to ‘yanks’ I guess it doesn’t really matter, because if they are dumb enough to believe that they have just ‘won’ a war with Iran, then they’ll believe any shite.
If only football was the same as world politics, make a complete Horlicks of something, spend billions to end up worse off than when you started, and you can claim a massive victory. If we replace DC with Hegseth, we could be in the premiership within 3 years.
PS: If you take a look at the 'group' accounts it's not hard to see why the budget was cut last year.
On the subject of the group accounts, the other interesting thing I discovered is that those disclose our profit from player trading (whereas the football club accounts don't) - some interesting figures in there. The 24 figures in particular provide some context to why we sold Brad, I think...
Year ended 30 September 25 - 78k Year ended 30 September 24 - 939k Year ended 30 September 23 - 876k Year ended 30 September 22 - 557k Year ended 30 September 21 - 356k
On the subject of the group accounts, the other interesting thing I discovered is that those disclose our profit from player trading (whereas the football club accounts don't) - some interesting figures in there. The 24 figures in particular provide some context to why we sold Brad, I think...
Year ended 30 September 25 - 78k Year ended 30 September 24 - 939k Year ended 30 September 23 - 876k Year ended 30 September 22 - 557k Year ended 30 September 21 - 356k
Those figures also show the gamble Robbie played by not selling Lisbie and Tovide in the summer. That September 25 figure would have been massive if he had.
Long time lurker, first time poster. Motivated to register by this topic which was much debated in my Col U whatsapp group!
I see it slightly different from other people. Whilst we have made a c.£3.65m loss, from what you can see from the football club accounts (its slightly difficult to tell as they aren't fully detailed) this is made up of:
c.£3m of interest payable to a related party (see below) c.£150k of amortisation of historical transfer fees (basically writing off historical transfer fees - this is a non cash expense). Separate from that, we spent c.£41k on transfer fees that season and sold players for c.£114k. Depreciation of fixed assets - £116k (another non cash expense) c.£400k of actual cash loss.
Robbie previously explained at a season ticket holder event that the interest on his loans is effectively "if we get to the Premier League" money - but as long as that doesn't happen, its a meaningless, paper transaction. Its basically make believe loss.
Whilst one way of looking at the accounts is we are making massive losses, the other way is that we lost c.£400k in cash terms. The accounts for the hospitality business aren't available yet but its unclear how its really doing as the hospitality business seems to have morphed into a largely property development company. The theory would be, I assume, that the hospitality element of the stadium should be able to run at break even under new ownership if held on a stand alone basis?
In reality I think the interest is making us appear a much more unattractive proposition than we are. Given the increased crowds and reduced budget this year, its not impossible that in cash terms we are close to break even this season given the results last season.
Perhaps its not Cowling propping us up any more, but Cowley propping up Cowling?
You probably see it differently from most because:
- You took the time to actually look into the numbers - You have (what appears to be) a strong understanding of accounts - You weren't looking for yet another stick to beat Cowling with
You probably see it differently from most because:
- You took the time to actually look into the numbers - You have (what appears to be) a strong understanding of accounts - You weren't looking for yet another stick to beat Cowling with
[Post edited 9 Apr 18:22]
One should never let facts, lack of research or accuracy get in the way of having a pop at shitfingers. Never forgive, never forget, that's my moto.
Incidentally, this September it will be 20 years since the main man became a director of the debt free, championship club, with its shiny new stadium and 5500 fans (rapidly reduced to 3500).
For many years the only thing I could cling to was the fact that one day he would be gone, now with the pantomime that's unfolding, I fear the day that finally happens, it is only DC/NC that is stopping it from going pearshaped.
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