| Club accounts statement 16:50 - Apr 29 with 2766 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 19:38 - Apr 30 with 657 views | Chief |
| Club accounts statement on 19:02 - Apr 30 by ReslovenSwan1 |
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. |
But they don't have a mountain of cash. That's the point. The 'dozy members' wanted to at try and obtain said mountain of cash but the trust board gave yo the opportunity against the members wishes.
So you are now criticising the supporters trust (a 21% shareholder too) for 'focus on the clubs accounts'.
Wow. You still don't get it do you!? |  |
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| Club accounts statement on 20:36 - Apr 30 with 627 views | ReslovenSwan1 |
| Club accounts statement on 19:38 - Apr 30 by Chief |
But they don't have a mountain of cash. That's the point. The 'dozy members' wanted to at try and obtain said mountain of cash but the trust board gave yo the opportunity against the members wishes.
So you are now criticising the supporters trust (a 21% shareholder too) for 'focus on the clubs accounts'.
Wow. You still don't get it do you!? |
Since when did £1.3 million become a bit of spare cash? It generates £65,000 a year if in the hands of a investment firm.
I do not get it at all. |  |
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| Club accounts statement on 21:18 - Apr 30 with 610 views | Chief |
| Club accounts statement on 20:36 - Apr 30 by ReslovenSwan1 |
Since when did £1.3 million become a bit of spare cash? It generates £65,000 a year if in the hands of a investment firm.
I do not get it at all. |
Where have you had that £1.3mill figure from them?
And you think 65k a year is enough to make a real difference in securing the long term future of a championship football club?
Yes it's clearly evident you don't. | |
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| Club accounts statement on 22:19 - Apr 30 with 583 views | ReslovenSwan1 |
| Club accounts statement on 21:18 - Apr 30 by Chief |
Where have you had that £1.3mill figure from them?
And you think 65k a year is enough to make a real difference in securing the long term future of a championship football club?
Yes it's clearly evident you don't. |
'Securing the long term future of the club' the Trust must be shrewd with money. They have not been for 20 years so far. Their last plan was to pay £10.5m to third parties to force other shareholders to buy their shares at half current Premier league prices. That is as dumb as it gets. (with respect) | |
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| Club accounts statement on 22:36 - Apr 30 with 570 views | Chief |
| Club accounts statement on 22:19 - Apr 30 by ReslovenSwan1 |
'Securing the long term future of the club' the Trust must be shrewd with money. They have not been for 20 years so far. Their last plan was to pay £10.5m to third parties to force other shareholders to buy their shares at half current Premier league prices. That is as dumb as it gets. (with respect) |
And yet another relapse back to the case. This affliction is getting worse than your Burnleyitis
Pay an amount to legal representatives to gain a larger amount is what you meant to say.
'dumb'.
Are you sure you aren't American? How's our 'roster' looking for next season? [Post edited 30 Apr 2022 22:58]
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| Club accounts statement on 23:19 - Apr 30 with 557 views | ReslovenSwan1 |
| Club accounts statement on 22:36 - Apr 30 by Chief |
And yet another relapse back to the case. This affliction is getting worse than your Burnleyitis
Pay an amount to legal representatives to gain a larger amount is what you meant to say.
'dumb'.
Are you sure you aren't American? How's our 'roster' looking for next season? [Post edited 30 Apr 2022 22:58]
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You are a promoter of a scheme that has already dumped as effectively unworkable and very bad for the future of the Trust. I asked you as a supporter to outline the costs and speculated it could be around £7-8m at a guess.
You told the forum it had to be kept secret and the would go ahead very soon this was after the Trust had already agreed to make deal not to go ahead. It actually would have cost £10.5m for an incomplete no win no fee service.
I advised the forum and another forum it was always too expensive. 3-4 years later they agreed. You deflect the failure onto the sensible people that pulled the plug.
Roster is a good word. I like it. | |
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| Club accounts statement on 00:03 - May 1 with 545 views | BillyChong |
| Club accounts statement on 23:19 - Apr 30 by ReslovenSwan1 |
You are a promoter of a scheme that has already dumped as effectively unworkable and very bad for the future of the Trust. I asked you as a supporter to outline the costs and speculated it could be around £7-8m at a guess.
You told the forum it had to be kept secret and the would go ahead very soon this was after the Trust had already agreed to make deal not to go ahead. It actually would have cost £10.5m for an incomplete no win no fee service.
I advised the forum and another forum it was always too expensive. 3-4 years later they agreed. You deflect the failure onto the sensible people that pulled the plug.
Roster is a good word. I like it. |
Resolven. The Wonga.com citizen of recent years, the consumer who internet shops and takes the ‘but now pay in 6 months’ bait. The CLN is obvious to all bar this naive ‘expert’. Silverstein put this in place before any prior knowledge and is still yet to convert. Stop making a fool of yourself. |  | | |
| Club accounts statement on 00:40 - May 1 with 538 views | ReslovenSwan1 |
| Club accounts statement on 00:03 - May 1 by BillyChong |
Resolven. The Wonga.com citizen of recent years, the consumer who internet shops and takes the ‘but now pay in 6 months’ bait. The CLN is obvious to all bar this naive ‘expert’. Silverstein put this in place before any prior knowledge and is still yet to convert. Stop making a fool of yourself. |
The CLN has a fixed termination date from what I have read up. It is designed for short term periods. I would guess Winter and the Trust both know this date. They would not convert unless the case was settled and they used this as leverage I suspect . "No deal means debt".
Silverstein can get 5% interest elsewhere and it is less than inflation. He does not need to come to Wales, join the board, sort out local legal matters to do that. He wants shares at a cheap price. The Trust are not selling.
Silverstein has spoken to me directly as a fan and assured me he is a straight shooter and not in it for a fast buck. I believe him. | |
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| Club accounts statement on 08:05 - May 1 with 519 views | Chief |
| Club accounts statement on 23:19 - Apr 30 by ReslovenSwan1 |
You are a promoter of a scheme that has already dumped as effectively unworkable and very bad for the future of the Trust. I asked you as a supporter to outline the costs and speculated it could be around £7-8m at a guess.
You told the forum it had to be kept secret and the would go ahead very soon this was after the Trust had already agreed to make deal not to go ahead. It actually would have cost £10.5m for an incomplete no win no fee service.
I advised the forum and another forum it was always too expensive. 3-4 years later they agreed. You deflect the failure onto the sensible people that pulled the plug.
Roster is a good word. I like it. |
You obviously still don't get it and you're missing some key components of why the members are unhappy. As I say the current trust board were obviously warned that the sellouts / Americans were going to draw it out and essentially play dirty instead of fighting the case on the merits of its facts. If the current trust board then panicked, ok fine, I can understand them doing so.
But at that point they should have come back to the membership. They should also have informed the membership of the terms of the settlement offer. But instead they signed it without confirming some key facts such as the holding company question & who pays the promotion bonus.
So it's not just giving up the court action - it's the failure as a supporters trust to engage the supporters. And if it involves NDAs then probably doing nothing would have been more amenable to the members.
And it doesn't help that the current trust chair wasn't even democratically elected. He's failed everytime he's tried to get elected to the board, he had to be co-opted which makes the whole stink even more.
What we've got now is trust board that no one trust's, and I don't see them briefing supporters in a way that s supporters trust would - I don't see them being truthfully critical from now on in. This is exacerbated by the settlement statement issued in the name of the football club itself: "the supporters trust has come to terms the football club" - no it didn't. Patently false, probably libelous and it should have been retracted and flagged up by the trust immediately. But they probably signed off on it.
The trust have probably signed their own death warrant. [Post edited 1 May 2022 8:07]
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| Club accounts statement on 08:17 - May 1 with 515 views | Chief |
| Club accounts statement on 00:40 - May 1 by ReslovenSwan1 |
The CLN has a fixed termination date from what I have read up. It is designed for short term periods. I would guess Winter and the Trust both know this date. They would not convert unless the case was settled and they used this as leverage I suspect . "No deal means debt".
Silverstein can get 5% interest elsewhere and it is less than inflation. He does not need to come to Wales, join the board, sort out local legal matters to do that. He wants shares at a cheap price. The Trust are not selling.
Silverstein has spoken to me directly as a fan and assured me he is a straight shooter and not in it for a fast buck. I believe him. |
- but you don't know what happens at the end of this fixed period. Is it automatic conversion? Is it automatic return of loan? Is it decision point time? Another problem with the trust signing the deal - they got no confirmation either way.
- he also can't lose. His mates own the club and he's now a director so he's got a legal conflict of interest essentially.
- yet Silverstein and the Americans have still provided the detailed particulars to you as a fan or even the supporters trust with him he's supposedly and evidently got close ties with now. | |
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| Club accounts statement on 23:19 - May 2 with 456 views | AndyCole |
| Club accounts statement on 22:34 - Apr 29 by bonymine |
Pheck off you Tw@t !!
Sellout Scumbags like you are hard to find !! |
Mwsh. How do you feel about your messiah Martin living in major Sell-out Martin Morgan's luxurious South Gower mansion overlooking Three Cliffs Bay, way down by the sea? Whilst we've been languishing meagerly in 15th and below.
Our very worst pysstake manager lording it up in our South Gower's landmark mansion. Unreal. Unacceptable.
'Pheckin wake up, Tw@t!!' | |
| Pro free speech and alternative opinions -
Anti gang-bullying and poor modding thereof -
Will always make a stand against those who consistently choose to turn a blind eye |
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