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25th April 2018, 08.19:30 | #19-0 (permalink) | |
Trialist
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Re: Other teams accounts
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Tranmere's accounts show a profit of £0.5m but within there is a write off of an old loan due to Peter Johnson of £2.2m so in reality its a loss of around £1.7m. Palios's directors loan account has gone from zero to £1.5m so he's effectively funded the loss. Not sure how deep his pockets are but wouldn't have thought that would be sustainable |
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25th April 2018, 08.21:33 | #20-0 (permalink) | |
Squad Player
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Re: Other teams accounts
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Directors loan could mean Johnson as well, so not just Palios as at that date. |
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25th April 2018, 08.43:28 | #21-0 (permalink) | |
Squad Player
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Re: Other teams accounts
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"The club generated 5.5 ish mill turnover but had expenses around 7 mill. Effectively the running costs mean we lost around 1.5 mill in 2017. The new owners loaned the club about 500k to bridge the gap, which they traded for equity, issuing new shares. At the same time the former owner wrote off 2 mill owed to him creating a stated profit around 500k. The club is now effectively debt free, with the former chairman paid off as well as the 1 mill overdraft by the Ingleborough sale, which also allowed us to invest around 1.5 mill over the year in the training facilities. By comparison last year the club generated around 3 mill turnover, this growth has mostly been fueled by expansion in non matchday commercial revenue. With the debt wiped, the training campus paid for (reflected in a huge leap in value in the clubs assets) and the academy transitioning to a centre of excellence saving 300k ish, the club reckon that should we stay down we will be able to breakeven whilst supporting similar costs (incl playing budget). There are several players (Tom Davies, Aaron Cresswell, Max Power) with sell on and appearence related payments that could potentially come into play though the club doesnt speculate to assume any will factor in. Stripping away all the complexity, with historical loans and investments into solar campus etc. The club has been losing 500kish a year in the NL. I suspect the aim/hope/belief is we will balance revenue and expenses at 6 mill each next year should we stay down. Promotion and the restoration of central funding would mean a handsome operational profit moving forward with plenty of room to increase playing staff budget." |
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25th April 2018, 08.46:58 | #22-0 (permalink) | |
Squad Player
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Re: Other teams accounts
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As the owners won’t be ploughing in money for the loss. |
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25th April 2018, 15.55:04 | #24-0 (permalink) |
Legend
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Re: Other teams accounts
RESOLUTION A
Summary: To authorise the use of Trust funds to invest in Wrexham AFC and\or WST Assets Limited Proposer: The Society Board “The Society resolves that immediately following the 2017 Annual General Meeting, the Society Board be authorised to invest up to a further £150,000 in Wrexham AFC Limited (a 100% subsidiary of Wrexham Supporters Trust) and\or WST Assets Limited (a 100% subsidiary of Wrexham Supporters Trust), the Board having the power to determine how the investment is distributed between the two companies, during the period following the 2017 AGM up to the 2018 AGM”. For = 181, Against = 1 This resolution was carried. |
25th April 2018, 15.59:51 | #25-0 (permalink) | |
retired & running a pub
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Re: Other teams accounts
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25th April 2018, 19.24:42 | #27-0 (permalink) | |
Due a Testimonial
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Re: Other teams accounts
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I think the word philistine might sum up the situation if one was a former Institute student. |
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