The Long Awaited Accounts....

[Risso]

The loan notes are £49m. I think it was accruals that are £15m.

And they were £34m last year, so an increase of £15m.

They actually issued £49m this year though, as that's the actual cash amount listed in the cash flow statement.  I think the £34m would have been owed to Lerner at the end of May last year, as the purchase went through in June, and would have been taken care of in the sale.  So yes you're right in that the loan notes have increased £15m, but Dr T has actually injected £49m in the year.  Or rather, the parent company has, which I imagine is the same thing.

[Tom_Mc9?]

So where do the accounts stand on the good/okay/bad/terrible/desperate/absolutely buggered scale?

[Woofles The Wonder Dog]

So is the HSBC loan not mentioned, or is that the way that Recon have loaned us the money?

Not confused at all, nosireebob.

[Toronto Villa]

So Risso and Ad@m speaking for us not so accounting/financially minded types in terms of trajectory how would you assess the current position of the club relative to where it was and where you thought it might be? Does it allay any of concerns you might have had about Xia/Recon and their investment capabilities or intent?

[cheltenhamlion]

Better than last year but still losing about a million quid a week is how I read it. No bother if we go up. A real FFP issue if we don't with likes of McCormack and Lansbury on fat contracts nobody will want to take over.

[Ad@m]

So where do the accounts stand on the good/okay/bad/terrible/desperate/absolutely buggered scale?

Not as good as Man City, but nowhere near as bad as the Blues!

They're as you'd expect. We've got a load of Premier League players and a Premier League infrastructure on (largely) Championship revenue. So it's unsustainable if we don't go back up soon.

[Risso]

So where do the accounts stand on the good/okay/bad/terrible/desperate/absolutely buggered scale?

Not as good as Man City, but nowhere near as bad as the Blues!

They're as you'd expect. We've got a load of Premier League players and a Premier League infrastructure on (largely) Championship revenue. So it's unsustainable if we don't go back up soon.

Basically this. The sales since these accounts will have helped slightly, but then income will be down again due us spending a second year in Division 2, so would imagine that roughly cancels out. If we don’t go up soon then we’ll be pretty well forced into selling our better players. We really need to go up this season.

[eamonn]

Profit on transfers healthier than was thought, I think? Most fees are undisclosed these days at the point of transfer but I guess with these details, it would be possible to ascertain more or less the correct amounts on each transfer.

[Risso]

So is the HSBC loan not mentioned, or is that the way that Recon have loaned us the money?

Not confused at all, nosireebob.

Actually, I think it is just a continuation of the overdraft facility HSBC previously gave the club under Lerner. It looks like it’s just a renewal of the fact that it’s secured on the stadium as before. Obviously it’s a new company now so presumably they just redid the paperwork.

[Woofles The Wonder Dog]

Cheers Martin. That’s a relief.

[Ad@m]

As with everything there's two ways of looking at this.

The glass half full version is that as long as we go up this year it's not a problem and is completely manageable.

The glass half empty version is that's essentially what the General was telling us when we were trying to get in to the Champions League...

[Sexual Ealing]

Thanks Risso and Ad@m. I have no idea why but I absolutely love having the accounts explained. I couldn't be less interested in any other accounts, even those of the company I work for. I'm fucking odd.

[kippaxvilla2]

Chaps not read the detail but does it say how much of a further capital injection is required in the next 12 months?

[SoccerHQ]

Genuinely surprised we've reduced the wage bill a lot given our squad still has many players in the 28-30 bracket who'll be on pretty good money although I assume most of them had a reduction after relegation.

Just shows you how stupid the premier league is getting with wage bills so look forward to that fun starting again in four months time.

[SoccerHQ]

Chaps not read the detail but does it say how much of a further capital injection is required in the next 12 months?

Going back up would surely solve that as it really is night and day what you get in TV revenue between the two leagues and then as others have said you can get better sponsorship aswell.

I look forward to Xia's plans when we do make it, he's obviously got the money to back it up.