2016-17 accounts are out

[klonk]

Doesn't make for great reading really. We've hardly spent a penny on players all season, yet we are still living beyond our means. I suspect we are in for a summer of players heading for the exit door, to be replaced by cheaper alternatives.

there was (and probably still is) a big mess to sort out at the club.

in some ways, it's difficult to see that things will change in relation to player recruitment - the loss is being reduced by making profits on selling players and through parachute payments. the parachute payments run out after next season (and will be lower this season in any case). we reduced the wage bill by £10m during 2016-17, but we still need to reduce it further to keep up with reductions in income from the parachute payments and be less reliant on player sales.

it's worth noting, the accounts appear to say that we spent nearly £15m on players during 2016-17, which is not so small an investment. for reference, i think we generated about £12m in transfer fees.

[CroydonCaptainJack]

Doesn't make for great reading really. We've hardly spent a penny on players all season, yet we are still living beyond our means. I suspect we are in for a summer of players heading for the exit door, to be replaced by cheaper alternatives.

We shouldn't forget that this is still quite historical information here. The year to May 17 is last season really.

[Tarbie]

Doesn't make for great reading really. We've hardly spent a penny on players all season, yet we are still living beyond our means. I suspect we are in for a summer of players heading for the exit door, to be replaced by cheaper alternatives.

[klonk]

yeah mate went back and had a look myself and edited my post. Any idea what repercussions will come of it?

no idea... hopefully the fact that we've behaved for the more recent seasons will act in our favour, but clearly the previous case still hangs heavily. the accounts say that the club remain "confident" that the decision in relation to the huge fine will be overturned.

[davieqpr]

We are allowed to lose £5m on average over 3 seasons. This becomes £13m average if owners pay the difference.

[West Acton]

The Kleenex box is being opened as we speak in some households

Jesus

[IsleworthRanger]

The Kleenex box is being opened as we speak in some households

[Kevin Mcleod]

Tight bar steward didn't spend spend spend in the summer or the January windows.
Get out of my club.

[blueandwright]

i think it does...

2014-15 £45.7m
2015-16 £10.9m
2016-17 £6.4m

total £63.0m

yeah mate went back and had a look myself and edited my post. Any idea what repercussions will come of it?

[klonk]

http://www.financialfairplay.co.uk/f...-explained.php

Just having a read of that and says clubs are allowed losses of up to £13m a season. Does that not mean we're under by quite a bit?

EDIT: Just re-read and realised this would be the 3rd year so is up for evaluation, does anyone know whether the previous two years combined are enough to take us over £61m?

i think it does...

2014-15 £45.7m
2015-16 £10.9m
2016-17 £6.4m

total £63.0m

...that said, under the original rules there were some costs which were exempt from the calculation (i think costs of youth development etc was one) - i don't know if that's still the case, but it could just bring us under if it still is.

[blueandwright]

http://www.financialfairplay.co.uk/f...-explained.php

Just checked and losses for 2 previous seasons were 45.7m and 11m so looks like we come in at around the £63m mark, meaning we've gone over by about £2m (basically what klonk said)

[klonk]

so... main numbers:

loss £6.4m
total debt £64.6m
of which:

- £46.0m is shareholder loans
- £4.2m is outstanding transfer fee payments
- £4.0m is a bank loan (ie actual external borrowing)
- £1.9m is tax
- £8.5m is other stuff

uh-oh! i think we have managed to go slightly over our ffp allowance under the new rules by £1.9m (but would need to check).

https://beta.companieshouse.gov.uk/c...filing-history