| Club accounts statement 16:50 - Apr 29 with 2199 views | Whiterockin |
Swansea City has reported a pre-tax loss of £4.6m for the financial year ending July 31, 2021 in its latest set of accounts.
This follows a profit of £2.7m from the previous year (July 31, 2020) and a loss of £7m from the financial year ending July 31, 2019. All figures are before taxation.
Turnover for the year was down to £27.5m compared to £50m for the previous year, owing to the final year of the club’s Premier League parachute payments and a whole season played behind closed doors due to the Covid-19 pandemic.
Broadcast revenue was £21.6m compared to £38.9m the previous year, while commercial revenue dropped to £1.2m compared to £2.6m. Matchday income also fell to £1.7m from £4.8m, however this was due to no supporters being allowed into stadiums, while the income arrived from fans who decided to leave their season ticket monies in the club.
The club’s commercial revenue accounts for the sale of merchandise online as well as streaming of fixtures played during the 2020-21 season.
The impact of Covid-19 was prevalent across the club’s commercial arm, with no match day ticket sales being available due to government restrictions and the closure of all hospitality and catering arms within the club.
The latest set of accounts cover the duration of the 2020-21 season in which all league games were played behind closed doors due to Covid-19, with a significant drop in matchday income a direct result.
The club’s total operating costs reduced to £47.8m, including player amortisation and impairment costs of £4.6m, from £64.5m in 2020.
The club employed an average of 244 members of staff, including playing staff, backroom staff and part-time matchday staff, during the year at a cost of £27.7m. This compared to 321 staff members at a cost of £40.2m the previous year — a reduction in staff costs of £12.5m.
The accounts also include the sale of Joe Rodon to Tottenham Hotspur, while no dividends were paid to shareholders during the financial year.
The club’s only borrowing came in the form of two interest free loans from the EFL that were made available to all Championship clubs as a result of the pandemic, and convertible loan notes that came as a result of director Jake Silverstein’s investment in August 2020. This funding was also matched by Swansea Football LLC.
“These accounts covered an extremely uncertain period for all clubs with the entirety of 2020-21 league season played behind closed doors,” said Swansea City chief executive Julian Winter.
“It was also our final year of receiving parachute payments following relegation from the Premier League, with the club continuing to commit to a long-term model of being financially stable.
“We remain hugely appreciative of our fans who continued to show their immense support for this club during the pandemic, with supporters opting to keep their monies in the club despite not being able to go to games.
“Our loyal supporters continued to spend their hard-earned money with the club despite the uncertainty brought about by the pandemic, for which jobs and the cost of living would have been a concerning one within the community.
“The club remains in a comparatively positive financial position within the Championship as we strive to be sustainable whilst ensuring we remain competitive on the pitch in order to achieve our long-term ambition of returning to the Premier League.” |  | | |  |
| Club accounts statement on 16:55 - Apr 29 with 1661 views | 73__73 |
So how much debt is the club in altogether ? |  |
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| Club accounts statement on 18:31 - Apr 29 with 1550 views | felixstowe_jack |
The statement says Swansea only loans are two interest free loans from the Football league.
2020 to 2021 losses of £4.6 million almost totally due to covoid with match day revenue down £3.1million and commercial income down £1.7 million.
This season with the return of spectators last year's losses look to be covered. | |
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| Club accounts statement on 18:57 - Apr 29 with 1507 views | magicdaps10 |
Fully expected and understandable considering the effect covid played.
Think that statement is a very encouraging one indeed. |  |
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| Club accounts statement on 19:44 - Apr 29 with 1442 views | jasper_T |
| Club accounts statement on 18:31 - Apr 29 by felixstowe_jack |
The statement says Swansea only loans are two interest free loans from the Football league.
2020 to 2021 losses of £4.6 million almost totally due to covoid with match day revenue down £3.1million and commercial income down £1.7 million.
This season with the return of spectators last year's losses look to be covered. |
Our income this season is £10-12m lower because we're not getting a parachute payment. Shedding Ayew and the loanees from the wage bill maybe makes up half that deficit, but we've brought in a lot of players and still have a few disproportionately high earners around.
£4.6m of amortisation/depreciation makes the £4.6m accounts loss pretty good. Our wage bill was lower than I thought it would be, so again we've done very well working towards the sustainable club ambition, but even if it dropped dramatically post-Ayew it's not going to be within our income bracket without regular player sales. £20m in wages would still represent a significant operations loss that would need to be recovered. | | | |
| Club accounts statement on 20:13 - Apr 29 with 1408 views | bonymine |
| Club accounts statement on 19:44 - Apr 29 by jasper_T |
Our income this season is £10-12m lower because we're not getting a parachute payment. Shedding Ayew and the loanees from the wage bill maybe makes up half that deficit, but we've brought in a lot of players and still have a few disproportionately high earners around.
£4.6m of amortisation/depreciation makes the £4.6m accounts loss pretty good. Our wage bill was lower than I thought it would be, so again we've done very well working towards the sustainable club ambition, but even if it dropped dramatically post-Ayew it's not going to be within our income bracket without regular player sales. £20m in wages would still represent a significant operations loss that would need to be recovered. |
Sobering comments there Jasper reality check if ever it were needed.
And the sellout scumbags continue to enjoy their ill gotten gains (what Shareholders Agreement Huw 🤔).
Morgan now worming his way back in too makes me want to puke although at least he was prepared to listen to other potential bidders at the time unlike the other ‘fans’ Jenkins, Dineen & The Clog who all cashed out for top dollar whatever the consequences.
Once a Sellout ALWAYS a Sellout.
STID 💪💪💪 |  |
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| Club accounts statement on 21:15 - Apr 29 with 1322 views | 73__73 |
| Club accounts statement on 20:13 - Apr 29 by bonymine |
Sobering comments there Jasper reality check if ever it were needed.
And the sellout scumbags continue to enjoy their ill gotten gains (what Shareholders Agreement Huw 🤔).
Morgan now worming his way back in too makes me want to puke although at least he was prepared to listen to other potential bidders at the time unlike the other ‘fans’ Jenkins, Dineen & The Clog who all cashed out for top dollar whatever the consequences.
Once a Sellout ALWAYS a Sellout.
STID 💪💪💪 |
Let it go. Memento Mori | |
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| Club accounts statement on 21:54 - Apr 29 with 1292 views | bonymine |
| Club accounts statement on 21:15 - Apr 29 by 73__73 |
Let it go. Memento Mori |
Et tu Brute ?? | |
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| Club accounts statement on 22:16 - Apr 29 with 1265 views | Luther27 |
I thought a number of staff were placed on furlough….and core staff…players, management etc deferred a certain amount of wages. Are these costs included in the figures posted? | | | |
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| Club accounts statement on 22:19 - Apr 29 with 1265 views | ReslovenSwan1 |
| Club accounts statement on 20:13 - Apr 29 by bonymine |
Sobering comments there Jasper reality check if ever it were needed.
And the sellout scumbags continue to enjoy their ill gotten gains (what Shareholders Agreement Huw 🤔).
Morgan now worming his way back in too makes me want to puke although at least he was prepared to listen to other potential bidders at the time unlike the other ‘fans’ Jenkins, Dineen & The Clog who all cashed out for top dollar whatever the consequences.
Once a Sellout ALWAYS a Sellout.
STID 💪💪💪 |
Good to see there are still a few dinosaurs left from the good old Planetswans days. |  |
| Wise sage since Toshack era |
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| Club accounts statement on 22:28 - Apr 29 with 1249 views | jasper_T |
| Club accounts statement on 22:16 - Apr 29 by Luther27 |
I thought a number of staff were placed on furlough….and core staff…players, management etc deferred a certain amount of wages. Are these costs included in the figures posted? |
These accounts cover the period from August 1st 2020 to July 31st 2021. The three month covid break was the previous season (no games between March 7th and June 20th 2020). [Post edited 29 Apr 2022 22:28]
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| Club accounts statement on 22:33 - Apr 29 with 1237 views | Luther27 |
| Club accounts statement on 22:28 - Apr 29 by jasper_T |
These accounts cover the period from August 1st 2020 to July 31st 2021. The three month covid break was the previous season (no games between March 7th and June 20th 2020). [Post edited 29 Apr 2022 22:28]
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Thanks for the clarification Jasper. | | | |
| Club accounts statement on 22:34 - Apr 29 with 1235 views | bonymine |
| Club accounts statement on 22:19 - Apr 29 by ReslovenSwan1 |
Good to see there are still a few dinosaurs left from the good old Planetswans days. |
Pheck off you Tw@t !!
Sellout Scumbags like you are hard to find !! | |
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| Club accounts statement on 23:07 - Apr 29 with 1197 views | BillyChong |
| Club accounts statement on 18:31 - Apr 29 by felixstowe_jack |
The statement says Swansea only loans are two interest free loans from the Football league.
2020 to 2021 losses of £4.6 million almost totally due to covoid with match day revenue down £3.1million and commercial income down £1.7 million.
This season with the return of spectators last year's losses look to be covered. |
Plus the Loan Note which is yet to be converted with interest payable to Silverstein | | | |
| Club accounts statement on 23:21 - Apr 29 with 1185 views | Fireboy2 |
| Club accounts statement on 22:19 - Apr 29 by ReslovenSwan1 |
Good to see there are still a few dinosaurs left from the good old Planetswans days. |
You wouldn't dare say that to his face. |  | | |
| Club accounts statement on 23:21 - Apr 29 with 1183 views | Fireboy2 |
| Club accounts statement on 22:34 - Apr 29 by bonymine |
Pheck off you Tw@t !!
Sellout Scumbags like you are hard to find !! |
And you would definitely say that to his face. | | | |
| Club accounts statement on 23:26 - Apr 29 with 1178 views | Chief |
| Club accounts statement on 23:07 - Apr 29 by BillyChong |
Plus the Loan Note which is yet to be converted with interest payable to Silverstein |
Yes interestingly the statement mentions 'investment' (it isn't yet) from Silverstein 'matched by the holding company. So this must mean that the likes of Morgan and Jenkins have no part of the infamous CLN.
Also 2 football league loans (interest free).
So we still had a 4.6mill loss despite the Rodon sale, and all these loans? |  |
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| Club accounts statement on 23:45 - Apr 29 with 1165 views | ReslovenSwan1 |
| Club accounts statement on 23:21 - Apr 29 by Fireboy2 |
And you would definitely say that to his face. |
A clash of cultures. The guy is a relic of the bad old days of Planet Swans. I would not venture on there with alternative views before it was cleaned up and the delinquents banished.
Bile an abuse ran wild over logic and led to the calamitous 6 year waste fest. Our learned friends made £400k out of it. (80,000 membership fees at £5) Ex public school boys like everyone else have a right to a living. A very good one in their case. | |
| Wise sage since Toshack era |
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| Club accounts statement on 23:56 - Apr 29 with 1159 views | jasper_T |
| Club accounts statement on 23:26 - Apr 29 by Chief |
Yes interestingly the statement mentions 'investment' (it isn't yet) from Silverstein 'matched by the holding company. So this must mean that the likes of Morgan and Jenkins have no part of the infamous CLN.
Also 2 football league loans (interest free).
So we still had a 4.6mill loss despite the Rodon sale, and all these loans? |
I don't think taking out a loan counts as profit that would offset any loss. But I'm not an accountant.
When you take out the amortisation it's not a bad position to have been in at the end of last season. Contracts wound down and the book value of players decreased, and we didn't bring in assets of the same accounts value (meaning transfer fees like Ayew's) to offset it. It's the difference between going bankrupt and merely not having enough money to replace like with like. | | | |
| Club accounts statement on 00:25 - Apr 30 with 1120 views | 73__73 |
| Club accounts statement on 22:34 - Apr 29 by bonymine |
Pheck off you Tw@t !!
Sellout Scumbags like you are hard to find !! |
Stop flogging that dead horse. You ain’t getting anywhere | |
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| Club accounts statement on 10:01 - Apr 30 with 991 views | jack_lord |
| Club accounts statement on 23:45 - Apr 29 by ReslovenSwan1 |
A clash of cultures. The guy is a relic of the bad old days of Planet Swans. I would not venture on there with alternative views before it was cleaned up and the delinquents banished.
Bile an abuse ran wild over logic and led to the calamitous 6 year waste fest. Our learned friends made £400k out of it. (80,000 membership fees at £5) Ex public school boys like everyone else have a right to a living. A very good one in their case. |
Our learned friends would not have had that money if the dirty conniving sellouts had not gone behind the backs of the major shareholding trust. Perhaps we would still be in the Premier League if they had been more patient and found the correct buyer which would have benefitted the trust and everyone would have been happy. |  |
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| Club accounts statement on 13:19 - Apr 30 with 928 views | ReslovenSwan1 |
| Club accounts statement on 10:01 - Apr 30 by jack_lord |
Our learned friends would not have had that money if the dirty conniving sellouts had not gone behind the backs of the major shareholding trust. Perhaps we would still be in the Premier League if they had been more patient and found the correct buyer which would have benefitted the trust and everyone would have been happy. |
You have learned nothing. You were sold a pup. A fake narrative. The Trust activists did not want to sell at any time 2015 -2022. They did not want to sell and did not want to be diluted. They have not sold and do not want to sell now.
They cannot manage money. It simply devalues with an interest rate of around 0.5% in the Santander account. 6.% less than inflation. I hope the new board concentrate on making money not just doing PPR spin. They need to assess the model rules very carefully. Money making is allowed.
"perhaps we would still be in the premier league and found a correct buyer". Another fairy tale for your collection.
Swansea is well run by honest people. Be happy now. Why not? It is not easy. It never was. | |
| Wise sage since Toshack era |
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| Club accounts statement on 17:45 - Apr 30 with 826 views | Chief |
| Club accounts statement on 13:19 - Apr 30 by ReslovenSwan1 |
You have learned nothing. You were sold a pup. A fake narrative. The Trust activists did not want to sell at any time 2015 -2022. They did not want to sell and did not want to be diluted. They have not sold and do not want to sell now.
They cannot manage money. It simply devalues with an interest rate of around 0.5% in the Santander account. 6.% less than inflation. I hope the new board concentrate on making money not just doing PPR spin. They need to assess the model rules very carefully. Money making is allowed.
"perhaps we would still be in the premier league and found a correct buyer". Another fairy tale for your collection.
Swansea is well run by honest people. Be happy now. Why not? It is not easy. It never was. |
****random unwarranted dig at supporters trust alert****
Another relapse pal | |
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| Club accounts statement on 18:36 - Apr 30 with 810 views | ReslovenSwan1 |
| Club accounts statement on 17:45 - Apr 30 by Chief |
****random unwarranted dig at supporters trust alert****
Another relapse pal |
Spin over substance again Chief. How are the Trust going to invest £1.3m over the next 5 years?. They should expect to raise £325,000 at 5% return. | |
| Wise sage since Toshack era |
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| Club accounts statement on 18:43 - Apr 30 with 807 views | Chief |
| Club accounts statement on 18:36 - Apr 30 by ReslovenSwan1 |
Spin over substance again Chief. How are the Trust going to invest £1.3m over the next 5 years?. They should expect to raise £325,000 at 5% return. |
We've been through this repeatedly. The trust realistically can't do anything with such a figure. It's not an amount they can tie up for any amount of time or buy a property portfolio with or hire a property manager because they need to day to day function.
So I have no idea. And I don't particularly care. Different story of case if they multiple millions in their possession. | |
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| Club accounts statement on 19:02 - Apr 30 with 800 views | ReslovenSwan1 |
| Club accounts statement on 18:43 - Apr 30 by Chief |
We've been through this repeatedly. The trust realistically can't do anything with such a figure. It's not an amount they can tie up for any amount of time or buy a property portfolio with or hire a property manager because they need to day to day function.
So I have no idea. And I don't particularly care. Different story of case if they multiple millions in their possession. |
When you have a mountain of cash to fill two suitcases you have no where to hide. You can hide it from the 1000 dozy members but horrible people like me will not let them sleep for another 20 years of uselessness without comment.
No wonder members of the Trust like to focus on the clubs accounts and Swansea City LLP accounts. Its a distraction. | |
| Wise sage since Toshack era |
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