The Accounts are out.

[bertlambshank]

One or two "Randy is making a fortune out of our club" folk need to bookmark this.

Don't they just. And maybe even read it.

You can lead a horse to water.....but a pencil must be lead.

[Toronto Villa]

Ultimately the important bit as it relates to finances and our future ability to invest:

Robin Russell, chief financial officer, said: "The 2012-13 accounts effectively close a chapter on a period of heavy losses. As we near the end of the 2013-14 season, the Club is financially self-sufficient, compliant with both UEFA’s and the Premier League’s Financial Fair Play requirements and we look forward to a period of continued growth and progress on and off the pitch.”

[kippaxvilla2]

Manure lot will eventually I guess.  But they are exceptions.

[ChicagoLion]

We've also published them on the deadline for filing them. 

Just like virtually every other business does.

Except the ones that have good news, it tends to be loss making companies that hold out until the last possible moment.

[pauliewalnuts]

Ultimately the important bit as it relates to finances and our future ability to invest:

Robin Russell, chief financial officer, said: "The 2012-13 accounts effectively close a chapter on a period of heavy losses. As we near the end of the 2013-14 season, the Club is financially self-sufficient, compliant with both UEFA’s and the Premier League’s Financial Fair Play requirements and we look forward to a period of continued growth and progress on and off the pitch.”

Just looks like the sort of blurb you'd expect in a press release like this to me.

It doesn't really matter the important thing is in the figures, and it's notable mainly for the fact he's written off another 90m.

[Toronto Villa]

One or two "Randy is making a fortune out of our club" folk need to bookmark this.

Don't they just. And maybe even read it.

maybe they can also stop questioning his commitment whether he attends the games or not. It would be nice to see him there I grant you but at the same time he's hardly stop trying to make the club financially viable so he clearly has retained a significant interest. The last couple of years have not only been a nightmare but a massive lesson. One that had it not been addressed as it has been could have seen us in a much more dire situation.

On the playing side clearly we have flown and are still flying too close to the sun, but it is possible that over the horizon there is better times  ahead with better players coming to the club.

[Toronto Villa]

Ultimately the important bit as it relates to finances and our future ability to invest:

Robin Russell, chief financial officer, said: "The 2012-13 accounts effectively close a chapter on a period of heavy losses. As we near the end of the 2013-14 season, the Club is financially self-sufficient, compliant with both UEFA’s and the Premier League’s Financial Fair Play requirements and we look forward to a period of continued growth and progress on and off the pitch.”

Just looks like the sort of blurb you'd expect in a press release like this to me.

It doesn't really matter the important thing is in the figures, and it's notable mainly for the fact he's written off another 90m.

yes, it is CFO talk and the proof will be in what the club proves in doing, but I think if I could take the liberty of reading between the lines, the worst is over, and the worst was quite shit.

[pauliewalnuts]

I'm not sure id be quite so positive about it, to be honest, it's a financial interest, he has to care about that, but I still think his non attendance says a lot about his heart not being in it.

Strictly speaking, those accounts are for last year, so the worst would have been over then. Doesn't look that way at the moment.

I also think that, having struggled to get to this point, there won't be any more chasing the dream going on, in terms of fees and wages.

It is excellent news that he's written off the debt, and I hope the "he's making a big profit" brigade take note, but we've got to be realistic about where we are, and where we are going.

[ChicagoLion]

One or two "Randy is making a fortune out of our club" folk need to bookmark this.

Don't they just. And maybe even read it.

maybe they can also stop questioning his commitment whether he attends the games or not. It would be nice to see him there I grant you but at the same time he's hardly stop trying to make the club financially viable so he clearly has retained a significant interest. The last couple of years have not only been a nightmare but a massive lesson. One that had it not been addressed as it has been could have seen us in a much more dire situation.

On the playing side clearly we have flown and are still flying too close to the sun, but it is possible that over the horizon there is better times  ahead with better players coming to the club.

Not sure you can call it commitment, he had no choice, if he stopped funding the club would go bust. Converting the loans to Equity is just recognising the club/business is unable to service these loans.

[aj2k77]

Can anyone explain how we still lost £42m? Where is it all going?

[Toronto Villa]

I'm not sure id be quite so positive about it, to be honest, it's a financial interest, he has to care about that, but I still think his non attendance says a lot about his heart not being in it.

Strictly speaking, those accounts are for last year, so the worst would have been over then. Doesn't look that way at the moment.

I also think that, having struggled to get to this point, there won't be any more chasing the dream going on, in terms of fees and wages.

It is excellent news that he's written off the debt, and I hope the "he's making a big profit" brigade take note, but we've got to be realistic about where we are, and where we are going.

the chasing the dream might not happen in quite so irresponsible a manner, but Everton and Spurs have done it through more astute scouting, management and spending. As long as we are not in the CL or we haven't been bought out by the next minted oil bloke we'll never compete at the very top end which essentially leaves everyone from about 5th place down to compete for those spots below the top 4. It's shit but that's the way it is. What we should be able to do if we do it right, is compete consistently in all competitions on a more sound financial footing. You don't have to be Chelsea to win cups as Wigan/Portsmouth/Swansea have shown.

[ChicagoLion]

Can anyone explain how we still lost £42m? Where is it all going?

These accounts would still include the very high salaries that MON left us with, the writing off of contracts and value of some players.

[kippaxvilla2]

Well it will still include Ireland's, Bents, Huttons, Dunns, Givens salaries.

[danlanza]

So, according to those figures we are on track then ?
Good.

[dave.woodhall]

So, according to those figures we are on track then ?
Good.

Reading between the lines, it was the last year of being up shit creek and this year we've got a paddle.