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New Owner... John Terry!?
at 21:06 15 Apr 2026

My guess, for what it’s worth, is that the £14m figure quoted is for Florence Park, the development land near Florence Park and Forrester Park. It would make sense as the hospitality business has very roughly £9m of development land on its balance sheet. £9m + Florence Park + Forrester Park? Would make sense as the idea was to move to Forrester Park due to restrictions on use of Florence Park due to the houses around it. Would make some sense if all of it was being sold together as it’s all interlinked, and would explain the fact it’s been suggested someone is paying money for us when the reality is the football club itself is worth nothing.

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It's FUBB
at 11:12 9 Apr 2026

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

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It's FUBB
at 20:00 8 Apr 2026

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?

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