Club Financial Statements

[krux]

I dont think its been posted elsewhere, but the club and WST accounts for 2019 are up on the club site

https://www.wrexhamafc.co.uk/news/cl...30th-june-2019

Accounts look reasonable (£755k profit) on the back of the Danny Ward money.

The concern is that this appears to be £1.5m, so we have blown a large chunk of it.

Most notably football costs increased by £300k, presumably on last seasons promotion push.

A thing that I thought was odd was that WST didn't appear to have any cash, but I'm sure someone who knows more about this type of thing can advise.

[Iesty]

the £1.5m also includes Kayden Jackson money and compo for Ricketts

[stevewxm]

Richest club in the northern premier league whoopee

[Haruki]

So last season we spent an extra £400k on football? That will cover payoff of staff and extra players brought in firstly by Barrow and secondly by Hughes. We had a staggering amount of players at the end of last season, some weeks there were a vast number of players, particularly strikers sat in the stands costing us money.
That £400k didn't get us promoted, it mostly came about due to the mismanagement of the board, their poor decision making in appointing Graham Barrow after he had already stated he didn't want the job, was in the later years of his career and hadn't held a managerial role for over a decade. Barrow and his choice of players then Hughes and his additional players was an expensive chain of events caused by poor decision making.
All of the Ward money receipted last year and gate receipts from last seasons big crowds is gone, bank balance is exactly as it was in 2018

The accounts also show a debtor of £900k mostly being the unpaid element of Danny Ward money owed from Liverpool. However since then we have been told of
-upgrade to CCTV
-chunk earmarked for Groves
-£200k budget increase given to Hughes
-payoffs to Hughes and Flynn
-additional budget spent by Keates
-gate receipts significantly down this season
I would say it is safe to assume that the Ward money is gone, wasted by mismanagement of our club board.

A once in a lifetime injection of cash hasn't got us promoted it instead sees us close to relegation into regional football.

This board have been lucky, they have had a constant stream of football fortune from player sales, transfer add ons, fortunate cup draws etc. This football fortune has come and gone and hasn't got us promoted, we are close to relegation. The football fortune has propped up and disguised boardroom mismanagement and I feel sick at how we have wasted this Danny Ward money

As a fan base, as the owners of the club we simply have to enforce change in the boardroom and implement a structure and personnel suitable to stop this mismanagement.

[Bagger Vance]

"The quality of our Youth Development programme is highlighted by transfer fees and prize money in excess of £1,500,000."

Sorry but the above statement is totally misleading and disingenuous - Danny Ward was developed in the time of Stuart Webber when the centre was rightly regarded as not only the best in North Wales but also one of the best in the North West. To use this money and attempt to link it with the quality of the youth program as it is today is grossly misleading to the fans.

The current board have trashed what was a great program with a total lack of care and diligence. Shame on you all for trying to use the efforts of people past to hide your failings today.

As for the protestations that they tried to get the decision on funding based on quality not league position - explain then how we failed to pass the National League standard for their youth proposition ending up in the college system?

[Corner Flag]

Originally Posted by Bagger Vance

"The quality of our Youth Development programme is highlighted by transfer fees and prize money in excess of £1,500,000."

Sorry but the above statement is totally misleading and disingenuous - Danny Ward was developed in the time of Stuart Webber when the centre was rightly regarded as not only the best in North Wales but also one of the best in the North West. To use this money and attempt to link it with the quality of the youth program as it is today is grossly misleading to the fans.

The current board have trashed what was a great program with a total lack of care and diligence. Shame on you all for trying to use the efforts of people past to hide your failings today.

As for the protestations that they tried to get the decision on funding based on quality not league position - explain then how we failed to pass the National League standard for their youth proposition ending up in the college system?

I gave up hearing the contant spin , lies etc so I am not supprised by anything the gang of 3 put out as (mis) information.

[Foxy]

Originally Posted by Bagger Vance

"The quality of our Youth Development programme is highlighted by transfer fees and prize money in excess of £1,500,000."

Sorry but the above statement is totally misleading and disingenuous - Danny Ward was developed in the time of Stuart Webber when the centre was rightly regarded as not only the best in North Wales but also one of the best in the North West. To use this money and attempt to link it with the quality of the youth program as it is today is grossly misleading to the fans.

The current board have trashed what was a great program with a total lack of care and diligence. Shame on you all for trying to use the efforts of people past to hide your failings today.

As for the protestations that they tried to get the decision on funding based on quality not league position - explain then how we failed to pass the National League standard for their youth proposition ending up in the college system?

It is a very cynical use of spin to try and pretend the current youth system was responsible for Danny Ward. These despicable creatures will stop at nothing.

[Wrexham's Patrick Bateman]

Sorry. But to ordinary Joe supporter in the street, looking at those figures. Then looking at our position in the table...

Someone.. Somewhere needs a big boot up the jacksy.

Any suggestions.???

[Phils-an-alki]

Scandalous waste of money. You can tell its not their money they are throwing down the drain