Accounts

[Hitman34]

When the new stadium is built, there'll be the sale of naming rights, increased commercial activity, higher advertising revenues and ticket sales, along with more TV money. Can't see why long term we can't break even. The shareholders are probably taking the long term view with this as well.

We definitely need to keep an eye on the wage bill though. I guess all clubs have the same problem.

Are you still pinning your hopes on that?

more chance of tony doing a caterham on us than some fantasy stadium being built. its all a "dream" mate

[superhoop67]

if the new stadium is built ,it will be a good 5-8 years minimum time ,how much will the debt be ,by then

[vblockranger]

Still facing a £50M fine, apparently......

http://www.dailymail.co.uk/sport/foo...lay-rules.html

Knew it wouldnt be long before the press saw through that dodgy £9 million loss we posted.

[vblockranger]

if the new stadium is built ,it will be a good 5-8 years minimum time ,how much will the debt be ,by then

Hundreds of millions and thats if we get prem money and parachute payments every season.

[Shepherds Mush]

Knew it wouldnt be long before the press saw through that dodgy £9 million loss we posted.

So if they ignore related party transactions they should really ignore the £200m (or whatever the papers report on that day) related party debt then......!

[QPR Richard]

Are you still pinning your hopes on that?

more chance of tony doing a caterham on us than some fantasy stadium being built. its all a "dream" mate

Has the project been cancelled? You live and learn

[Kirill]

Has the project been cancelled? You live and learn

We wait till early April, not long now.

[dsqpr]

This is interesting (although it is for 2012/13): http://www.theguardian.com/football/...lub-david-conn

From the article:

QUEENS PARK RANGERS

Accounts for the year to 31 May 2013

Ownership: 66% by Tune QPR , registered in Malaysia, owned by Tony Fernandes and partners Kamarudin Meranun and Ruben Gnanalingam; 33% by Sea Dream Ltd, family holding of Lakshmi Mittal

Turnover: 18th in league, £61m (down from £64m in 2012)

Gate receipts: £8m

TV and media: £43m

Sponsorship and advertising: £5m

Commercial: £4m

Uefa and other: £0.9m

Wage bill: 7th highest, £78m (up from £58m in 2012)

Wages as proportion of turnover: 128%

Loss before tax: £65m (up from £23m loss in 2012)

Net Debt: £177m

Interest payable: £0.1m

Highest paid director: Directors of the holding company were not paid

SWANSEA CITY

Accounts for the year to 31 May 2013

Ownership: Martin Morgan, 22.5%; Brian Katzen, 20%; Swansea City Supporters Society Limited (supporters trust) 20%; chairman Huw Jenkins 12.5%; Robert Davies 10%

Turnover: Joint 16th in league, £67m (up from £65m in 2012)

Match income: £10m

Media: £51m

Commercial and other: £6m

Wage bill: 17th highest, £49m (up from £35m in 2012)

Wages as proportion of turnover: 73%

Profit before tax: £21m (up from £17m in 2012)

Net debt: Nil; £4m cash in the bank

Interest payable: £0.05m

Highest paid director: Huw Jenkins, £250,000


QPR:
Turnover: 61m
Wages: 78m
Loss on wages alone: 17m
Total loss: 65m
Cost of things other than wages: 48m

Swansea:
Turnover: 67m
Wages: 49m
PROFIT on wages alone: 18m
Total PROFIT: 21m
Cost of things other than wages: minus 3m

It seems we have 48m of mysterious costs that Swansea do not have! What are these costs?

I also noticed that we have 16.6m "amortization of intangible assets". I understand that when we pay a transfer fee, the fee is amortized over the length of the player contract, so perhaps that is the majority of this item? In which case, we essentially spent 16.6m on "signings" this season (from an accounting perspective). We need to be a net selling club, not a net buying club to the tune of 16.6m!

[Scott Jones]

Was with an ex player the other day. Will keep most of it private but what he said that I think we can agree with...just simply not good enough..the owners are complete and utter fools and various managers and owners have signed toss. (he threw in a caveat that re Austin we, (Arry), never actually wanted him).

He also said that, as he understands it Fernandes has little to do with us and that the day to day blame should be at Beards feet...a man that he said was so utterly incompetent its shocking..I'm sure once his notice is served the staff will happily chat about his "motivational" sessions that he ran....

[superhoop67]

Was with an ex player the other day. Will keep most of it private but what he said that I think we can agree with...just simply not good enough..the owners are complete and utter fools and various managers and owners have signed toss. (he threw in a caveat that re Austin we, (Arry), never actually wanted him).

He also said that, as he understands it Fernandes has little to do with us and that the day to day blame should be at Beards feet...a man that he said was so utterly incompetent its shocking..I'm sure once his notice is served the staff will happily chat about his "motivational" sessions that he ran....

but look what he did at the O2 arena ,he was going to turn us into a global brand

[vblockranger]

but look what he did at the O2 arena ,he was going to turn us into a global brand

More like a global joke

[Scott Jones]

but look what he did at the O2 arena ,he was going to turn us into a global brand

A director of 02 was a non exec director at my old company. This bloke is exceedingly successful, I asked him about Beard 2 years ago and what he said...

Why would you be CEO of the biggest and most profitable entertainment venue on planet earth, step down to work in corporate PR for the Olympics, then leave BEFORE the Olympics??? Then end up at QPR.

So, judge for yourself based on his CV was his parting statement.

[Scott Jones]

So, to be blunt...we've all been numpties not asking questions about beard before. I'm zero fan of the board but maybe more dead wood is being cleared out.

[James1979]

Net debt is around 23m and this is secured on stadium. You can ignore majority of current assets and liabilities as its just working capital. The "loans" are shareholder loans and not debt. Talk of debt of 200m is absolute nonsense. The board are supporting the club but we knew that already. If the 60m adjustment gets us through FFP then that's a great result. Stop listening to scaremongers who have no idea how to read a balance sheet.

[brightonr]

Net debt is around 23m and this is secured on stadium. You can ignore majority of current assets and liabilities as its just working capital. The "loans" are shareholder loans and not debt. Talk of debt of 200m is absolute nonsense. The board are supporting the club but we knew that already. If the 60m adjustment gets us through FFP then that's a great result. Stop listening to scaremongers who have no idea how to read a balance sheet.

Quite right James.

As angry as I am about the on field farce that this season has descended into, I have to say that it is a bit disappointing to see quite so many people on here almost gleeful at the possibility of us getting a huge fine.

It won't happen though, for so many reasons. The most obvious one of course is that such a ridiculous fine, in itself would lead to the almost certain need to impose one every year thereafter, as a fine would be regarded as a loss as far as any financial accounting is concerned. Therefore, any club falling foul of such a stupid law, would immediately lose at least that the following year.

Haven't yet decided though, which is more laughable. The thought of the Football League attempting to impose something that isn't enforceable, or those on here thinking that they could.