22/23 Finances

[Gladders]

Jan/Feb is when clubs normally release accounts for the last season, unless your Mansfield, so thought I'd start this thread from last years.

We released our annual accounts for last season today.

Highlights include:
Profit before tax of 245k
Turnover up 53% to 6.81m, mainly from promotion to Lge 2 but also 1.41m from our cup run and 293k from player sales
expenditure up to 4.52m, 88% of that on staff wages. 114k spent on player transfers.
1.28m from season ticket sales
398k spent on infra and 523k cash in hand
Finally the big thing Fenty has been paid off no more debt to him. And the current owners are pursuing turning their interest free loans of 3m into shares.

 

[Gladders]

Walsall

https://twitter.com/x/status/1744614067891769471

 

[Gladders]

Notts County (From Non League year)

https://twitter.com/x/status/1747788843690946697

 

[Gladders]

FGR (From Lge 1 year)

https://twitter.com/x/status/1756259120154280338

 

[Gladders]

Crawley

https://twitter.com/x/status/1757883897361105343

 

[Gladders]

Crewe

https://twitter.com/x/status/1759810850750144728

 

[Gladders]

Morecambe (From lge 1 year)

https://twitter.com/x/status/1761095009313399164

 

[Gladders]

Barrow

https://twitter.com/x/status/1762217517546651909

 

[Gladders]

Sutton

https://twitter.com/x/status/1763085695579562435

 

[Richard Cranium]

Spam

 

[1862]

Notts County (From Non League year)

https://twitter.com/x/status/1747788843690946697

Further down the thread there is a £900k infrastructure project mentioned which I think pretty much is the difference between this and the year before. I don't think that'll include the land they've acquired for the fan park which was announced yesterday so still investing which is a good sign.

Obviously unsustainable in the long term but that's why it's good the infrastructure projects are there. Attendances are much higher this season (so far), should get more money from being in a higher league, so hopefully that can come down this season.

 

[The Jovial Forester]

Funny that we get complimented for financial probity issuing full accounts when most of that income will surely be from DV's own pockets/other businesses one way or the other. Sustainability in football!

 

[EnglishRed]

Funny that we get complimented for financial probity issuing full accounts when most of that income will surely be from DV's own pockets/other businesses one way or the other. Sustainability in football!

Come now I'm sure you're generating over 8m from the sale of Vegan mac and cheese alone.

 

[Gladders]

Grimsby

https://twitter.com/x/status/1763267888020967510

 

[Indian Dan]

Makes you wonder how we can have an income of £7-8m, no rent, restrictive playing budget and still get told we’re operating at a loss. Accounts should be out in a day or 2 - which I doubt.

Apparently we’re using Fair Game who are supposed to give a sustainability rating to clubs. We’re the Guinea pig.

Fair Game Index 2023 - Fair Game

The most comprehensive survey of English football ever. The top 92 clubs ranked on financial sustainability, good governance, fan engagement and equality standards - using over 80 different touchpoints

www.fairgameuk.org

 

[THE LAST WALTZ]

Mr Maguire seems to get quite irate at clubs publishing abridged accounts, even though the vast majority of companies do, and are entitled to do so.
He will be a happy bunny to know that the legislation is changing soon and everyone will be obliged to publish a P&L.

 

[GTFCfish]

So our wages were 4M last season and I’d guess it’s higher this season given the amount of players we signed in the Summer plus the cup money, just to be in 22nd in League 2.
What a shite league.

 

[Indian Dan]

£4m? Jesus! Presume that’s for the entire club not just playing staff.

 

[Conker]

Must admit I do find it annoying we publish year end December 31st usually, the reasoning given out is to be in line with the One Call Group.

Fair play to those clubs that publish proper detailed accounts too, explaining what is playing budget staff cost etc etc, that’s one genuine criticism I hold towards our ownership is the lack of detail in accounts.

 

[JJ1990]

For us, £1.4m in 1 season is a big amount, but we were carrying a lot of dead weight from the previous season and I believe still paying off Dave Artell's contract. Losses for this season should come down to selling Connor O'Riordan, getting better gates(at a higher entry price), having an FA Cup run and getting rid of most of the crap from the playing squad.

Still concerning that we lost so much and rely on directors loans to stay afloat.

 

[Agombar stool]

Grimsby

https://twitter.com/x/status/1763267888020967510

Good set of figures, yours and Walsall's show its possible to be run sustainably - for Grimsby, how much of it was helped by your cup run income? Without that, you'd have been running at a loss of around a million quid I'm guessing?

 

[Gladders]

Good set of figures, yours and Walsall's show its possible to be run sustainably - for Grimsby, how much of it was helped by your cup run income? Without that, you'd have been running at a loss of around a million quid I'm guessing?

Yeah shows much cup runs can mean to finances. I'm guessing we wouldn't increase wages so much, bonuses etc. or pay transfer fees if we didn't have the cup runs, but certainly would have been a loss.

 

[The_Viking_Magpie]

Great figures for Grimbo and does indeed show the expected significant benefits of a good cup run (whatever one of those is?)

It also emphasises just how (surprisingly) awful this season has been after last season and it's awesome adventures in the cup.

 

[Gunit]

Our losses probably mainly down to development of away end. With another side to develop, which I believe will be done in stages, we’re going to see further losses.

 

[Greenacres]

Funny that we get complimented for financial probity issuing full accounts when most of that income will surely be from DV's own pockets/other businesses one way or the other. Sustainability in football!

Dale bangs on about sustainability in the environment and how we as humans interact with it, which is brilliant most of the time, but anyone who thinks he is running his football club in a sustainable manner...may I politely suggest they are deluding themselves at best, and have most likely lost reasonable contact with reality. Nobody is immortal, despite what they might wish to believe, if Dale chokes on a tofu burger (or one of his air dried chips gets lodged in his throat) and dies tomorrow...his club is screwed!

 

[The_Viking_Magpie]

Surely that all depends on what is written in his will. If he wishes to he could easily protect FGR for a long time after he takes his last breath. He's sure got the net worth to, it's just whether he wants to.

 

[Indian Dan]

Our accounts have just been published- no doubt Maguire will put them up on X.

Someone explain how a business with a T/O of £6m can have admin costs of £3.6m.

 

[masi51]

Our accounts have just been published- no doubt Maguire will put them up on X.

Someone explain how a business with a T/O of £6m can have admin costs of £3.6m

Dear Crayons

 

[Gunit]

Our accounts have just been published- no doubt Maguire will put them up on X.

Someone explain how a business with a T/O of £6m can have admin costs of £3.6m.

We had almost £4m in our first year in EFL on about £3.7m of income, think it captures virtually all costs.

 

[Indian Dan]

We actually made a profit - albeit a small one £48k. But, for me, a huge % of our admin costs needs to be broken down to show what’s spent on what.