The Long Awaited Accounts....

[AV89]

Revenue slightly down due to lower TV revenue, gate receipts were up.  £115.7m.

Pre tax loss £27.8m increased from £3.9m previous year.

Net debt reduced to £30m from £102m.

Club remains for sale but no active discussions with potential buyer.

Oh and commercial revenue was actually down £2.6m to £19m.

They suggestion that Tom Fox is some sort of commercial genius blown out of the water with those figures.

[Risso]

Revenue slightly down due to lower TV revenue, gate receipts were up.  £115.7m.

Pre tax loss £27.8m increased from £3.9m previous year.

Net debt reduced to £30m from £102m.

Club remains for sale but no active discussions with potential buyer.

Oh and commercial revenue was actually down £2.6m to £19m.

They suggestion that Tom Fox is some sort of commercial genius blown out of the water with those figures.

To be fair, he joined mid-season and probably didn't have much opportunity to influence commercial deals that were already in place.

[Chris Harte]

Revenue slightly down due to lower TV revenue, gate receipts were up.  £115.7m.

Pre tax loss £27.8m increased from £3.9m previous year.

Net debt reduced to £30m from £102m.

Club remains for sale but no active discussions with potential buyer.

Oh and commercial revenue was actually down £2.6m to £19m.

They suggestion that Tom Fox is some sort of commercial genius blown out of the water with those figures.

To be fair, he joined mid-season and probably didn't have much opportunity to influence commercial deals that were already in place.

So we'll all have to wait until this time next year to evaluate him?

That seems such an alien thing to a football fan, used to being able to look at a current league table to know how things are going.

[Risso]

I think by most criteria he's doing a shit job as CEO.

[Richard E]

Are there any criteria by which he isn't?

[dave.woodhall]

Are there any criteria by which he isn't?

His own?

[SteveD]

Thanks. So it should really be: Don't worry, it's "only" a £27m loss. It's an accounting cock-up from last year that makes it look worse... The club is really safe in their hands!

[MoetVillan]

Are there any criteria by which he isn't?

His own?

Hah, that made me laugh out loud

[hipkiss92]

Why is Lerner waiting? Fox should go now along with the other idiots. You can see Lerner is still trying to do the right thing and writing off debt but when as an owner you keep repeating the same mistakes over a six year period then you should just admit to yourself that you are no good at running a business.

If Risso is correct and Fox earned over £1m for a part year of employment, then that might well explain it. Would you want to write a cheque for £2m+ to the moron for him to leave? Maybe he will be sidelined and kept on for negotiating shirt deals etc (which by all accounts he is pretty good at) and that way we lose the money on the drip then don't offer him a new contract.

Hope he is booted out though.

'A million pounds, to send us down'

I'm sure there's a chant in there somewhere.

[Fred]

Am i right in saying Mr Lerner has invested more of his own money than any other chairman in our history? I suspect Mr Hollis is there to advise him how best to get out and reduce any potential loss he will incur?

[tomd2103]

The one ray of hope throughout that the last few seasons palatable is that the club would be in a better place financially and we wouldn't be doing a Leeds or Portsmouth.  To now see that the clowns running the club have not only made a terrible mess of things on the pitch, but apparently off it as well staggers belief. 

[Risso]

I feel "a bit" sorry for Faulkner in all this. He was mostly hopeless, but didn't earn that much. He then sees his replacement earn 10 times as much while buggering things up on a scale previously only dreamed of. 

[Dave]

Am i right in saying Mr Lerner has invested more of his own money than any other chairman in our history?

Happy to be corrected on this, but presumably he went through that particular milestone on the day that he took possession of the club?

[Fred]

I feel "a bit" sorry for Faulkner in all this. He was mostly hopeless, but didn't earn that much. He then sees his replacement earn 10 times as much while buggering things up on a scale previously only dreamed of. 

The worry here is that Lerner does not seem able to appoint a decent manager for the club. Be it on the pitch or off it.

[Fred]

Am i right in saying Mr Lerner has invested more of his own money than any other chairman in our history?

Happy to be corrected on this, but presumably he went through that particular milestone on the day that he took possession of the club?

I meant since he took ownership.