The Accounts are out.

[eastie]

Although Vlaar and kea were experienced they were not experienced in this league and it has taken time to settle in vlaars case - as for kea the less said the better

I think KEA has been ok this season, well away from home anyway. Maybe not the quality we need in there but he's improved.

I wouldn't say he's been ok but he has improved from last season - on rare occasions he has performed well but shown no consistency to hold down a regular place .
I certainly agree that he has been better away from home where we are more likely to soak up  pressure, at home he is far too negative  .

[olaftab]

The accounts thread?

May as well have one thread to cover all topics.
Lovely weather for the time of year.

It has started raining now and Yahoo weather forecast shows 80% chance of it continuing all afternoon. This will impact our future accounts and no one is talking about it.

[olaftab]

Who are Villa auditors by the way?

[kippaxvilla2]

It was Deloittes at one point. That's where Mr Ansell came from I think.

[eastie]

The accounts thread?

May as well have one thread to cover all topics.
Lovely weather for the time of year.

It has started raining now and Yahoo weather forecast shows 80% chance of it continuing all afternoon. This will impact our future accounts and no one is talking about it.

Come on affers, give us the temperature as well please

[Ad@m]

It was Deloittes at one point. That's where Mr Ansell came from I think.

Still is. Deloitte have a bit of a football specialism and audit loads of clubs.

[adrenachrome]

Inside World Football

Villa post £51m loss but 'close a chapter' on excesses of past

Published on Tuesday, 04 March 2014 13:02

March 4 – The painful financial turnround of Aston Villa is still on-going though the club maintain that they are on the right track and have "closed a chapter" on a period of heavy losses and are now self sufficient and within UEFA's financial fair play regulations.

Villa's chief financial officer, Robin Russell, 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."

The latest figures show a £51.8 million loss in the accounts for 2012-13 but Villa have reduced their operating losses by £9.5 million to £42.6 million. The loss after tax for the financial year increased by £34.1 million to £51.8 million - unlike the previous year Villa did not generate money from player sales.

Turnover for the year was up £3.3 million to £83.7 million, with the club saying this was due to an improved Premier League position, higher average league attendance and progression to the Capital One Cup semi-final.

Owner Randy Lerner waived £90.1 million of loans to reduce the debt load. The loans were converted to equity.

Operating expenses were reduced by £6.2 million, mainly through reducing the wage bill of the playing squad.

Villa said the accounts now more accurately reflect the value of the playing squad. The club and its manager have now worked through what looks to be the toughest part of its financial battle and, crucially, retained Premier League status while doing this.

[oldhill_avfc]

Quick comment about the debt to equity conversion (apologies if it's already been covered).

On the plus side the club has £90m less debt - theta's good news - less debt needs servicing.

On the other hand it does't really make that much difference. 

Any prospective investors/buyers would have to buy debt + equity so the net value to Lerner is the same.  In other words he hasn't invested any new money into Villa he's just recognised he's not going to recoup the losses he and his management team have incurred over the past few years at any point in the near future.   It's essentially an accountancy fix with potentially some 'financial fair play' benefits.

I think it is important to consider that Lerner may be an extremely generous benefactor who chooses to subsidise our entertainment, but it is far more likely that's he's merely an hopeless businessman living off inherited wealth.

[saunders_heroes]

Have the actual full accounts been released yet?

[Dave Clark Five]

Quick comment about the debt to equity conversion (apologies if it's already been covered).

On the plus side the club has £90m less debt - theta's good news - less debt needs servicing.

On the other hand it does't really make that much difference. 

Any prospective investors/buyers would have to buy debt + equity so the net value to Lerner is the same.  In other words he hasn't invested any new money into Villa he's just recognised he's not going to recoup the losses he and his management team have incurred over the past few years at any point in the near future.   It's essentially an accountancy fix with potentially some 'financial fair play' benefits.

I think it is important to consider that Lerner may be an extremely generous benefactor who chooses to subsidise our entertainment, but it is far more likely that's he's merely an hopeless businessman living off inherited wealth.

Thank you for the clarification.

[Ad@m]

Have the actual full accounts been released yet?

Not yet.  It took the best part of a week for them to appear last year too.

[Mister E]

...
I think it is important to consider that Lerner may be an extremely generous benefactor who chooses to subsidise our entertainment, but it is far more likely that's he's merely an hopeless businessman living off inherited wealth.

why "is it far more likely ..." Other than your own personal bias, what makes you say that?

[brian green]

Would you say that Paul Mellon or Paul Getty or Armand Hammer or Warren Buffet or Bill Gates are "hopeless businessmen" because they are open handed with inherited wealth?"   (yes I know Bill Gates did not inherit his wealth but it is the same principle).

[oldhill_avfc]

...
I think it is important to consider that Lerner may be an extremely generous benefactor who chooses to subsidise our entertainment, but it is far more likely that's he's merely an hopeless businessman living off inherited wealth.

why "is it far more likely ..." Other than your own personal bias, what makes you say that?

It is well documented that his wealth is inherited.

He has no significant business interests since the sale of MBNA.

His sports businesses have been largely unsuccessful - the Cleveland Browns have gone.

He has lost a small fortune so far with Villa.

We all have personal bias but I think there's more than a reasonable case for my opinion.

[oldhill_avfc]

Would you say that Paul Mellon or Paul Getty or Armand Hammer or Warren Buffet or Bill Gates are "hopeless businessmen" because they are open handed with inherited wealth?"   (yes I know Bill Gates did not inherit his wealth but it is the same principle).

Without doing the research I'd say all the people you quote have taken their inherited businesses and grown them significantly.

Lerner has either been eased out or sold on his interests.  He is, I feel by nature, a philanthropist (Acorns, Clare College) and that's not a bad thing by any means.  Again I sense he doesn't have the business acumen necessary to compete at the top level.