2009 accounts

[Happy Face 29]

Our debt (£131m) places us fifth with over 5% of all Premier League debt (one 20th is about right though)

 

Three years ago we had the seventh highest debt (£106m) which was just 3% of total top flight debt.

 

http://www.guardian.co.uk/football/table/2...over-wages-debt

[Barney 0]

This 'FIFA Financial Fair Play by 2013'.

 

Is that going to fuck up these clubs like ManU/Chelsea/Real Madrid?

[Happy Face 29]

This 'FIFA Financial Fair Play by 2013'.

 

Is that going to fuck up these clubs like ManU/Chelsea/Real Madrid?

 

Isn't that why Roman set up his holding company to take the clubs debt and put it into another company.

 

Not sure of the ins and outs, but I assumed they'll get round the FIFA rules and still hold the loans outstanding.

 

Or I might be too cynical.

[Barney 0]

Probably not, no.

 

I'd hope that if FIFA were going to try and bring in something like that, it wouldn't be that easy to just blatantly hide the money owed?

 

Or I might be to naive.

[Asprilla 96]

I think with Abramovich it's likely to be a good way to turn Roubles into Pounds.

Edited May 20, 2010 by Asprilla

[ChezGiven 0]

For the financial year we had a net spend of £350k.

 

Since then we made a net profit of around £18m.

 

 

Do all these losses include amortisation? I thought i read in the accounts that we wrote off 19m last year for amortisation, so a loss of 30m is in fact really a 11m loss.

 

The only figure that is important for me is the budget deficit. NUFC, like the economy has been running a deficit, otherwise we wouldnt be in debt, obviously. Just like the economy, the total debt isnt that important, its the deficit. The deficit or budget that i want to know is for 2008/9 and 2009/10; what were the total direct expenditures of the club? What were the total direct revenues?

 

The accounts take account of the debt and capital depreciation and all that bollocks, Ashley's 'loans' in turn, take account of all of this, not just the revenue - cost discrepancy. The extent to which NUFC is a going concern (just like the economy for bond traders) is based on its direct revenues and costs. (Edit - and i guess the total debt position but this is irrelevant for us as there is no interest on it).

 

Have we spent more on players and running the club than revenue received this last season? I imagine there were some losses the season before but to make a real 30m loss, we earned 80m and spent 110m?

 

I'm clearly not an accountant.

Edited May 21, 2010 by ChezGiven

[ewerk 26540]

Our net cash loss from operating activities was £18m, this excludes transfers and financing costs.

[Rob W 0]

I think with Abramovich it's likely to be a good way to turn Roubles into Pounds.

 

 

naaa - it's about

 

1. Buying a load of top class acreage in W London - he can always move Chelski somewhere else if he wants to develop the site

 

2. Owning a big UK club and all the publicity gives him a bolt hole if Mr P decides to crack down on him