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Old 28th July 2020, 12.51:33   #1-0 (permalink)
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Default Follow the Money

https://www.wrexhamafc.co.uk/sites/d...ounts_2019.pdf

Based on the attached accounts for year ended 30th June 2019 we can deduct the following
In that year Cost of Sales (football and stadium costs) rose by £620k
Administration Costs rose by £185k
So our total costs increased by £805k.

In that year this was covered by an increase of revenue of £1.6 million (mainly the Ward add on) and we recorded a Profit of £755k.

So, if in year ending June 2020 our costs were similar to the year before (a look at both playing squads would lead you to assume so) and we wouldn't have had the Increased Revenue from Danny Ward so assume it decreased by that £1.6m, Then in June 20 we can assume a large loss that would have eaten up all of the Profit made the previous year.

What does this mean? To me in looks like all of the Ward money has been spent over the last two season which is why members have to fund the training ground.

Based on all of the above my question is how we can afford to sink £100k into the Groves? I will firmly be voting against it.

Last edited by Haruki; 28th July 2020 at 12.54:46..
Old 28th July 2020, 13.05:51   #2-0 (permalink)
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The club board have made it clear that Wrexham FC is financially stable even in these difficult times. I read it in The Daily Post.
Old 28th July 2020, 13.09:24   #3-0 (permalink)
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Quote:
Originally Posted by Inside Left View Post
The club board have made it clear that Wrexham FC is financially stable even in these difficult times. I read it in The Daily Post.
Must be true then.

Old 28th July 2020, 13.29:13   #4-0 (permalink)
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Quote:
Originally Posted by Inside Left View Post
The club board have made it clear that Wrexham FC is financially stable even in these difficult times. I read it in The Daily Post.

£213k in the bank, as I understand it.

Pete Jones "I will be stepping down from the Chair "

Last edited by eastsussexred; 28th July 2020 at 13.30:31..
Old 28th July 2020, 13.34:50   #5-0 (permalink)
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Quote:
Originally Posted by Inside Left View Post
The club board have made it clear that Wrexham FC is financially stable even in these difficult times. I read it in The Daily Post.
With no more Ward money to dip into and a large chunk of the fans refusing to put any more money in until the board have gone we will be in trouble going forward.
Old 28th July 2020, 13.35:38   #6-0 (permalink)
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Quote:
Originally Posted by Pieman View Post
With no more Ward money to dip into and a large chunk of the fans refusing to put any more money in until the board have gone we will be in trouble going forward.
Add covid into the equasion too
Old 28th July 2020, 13.41:53   #7-0 (permalink)
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Quote:
Originally Posted by eastsussexred View Post
£213k in the bank, as I understand it.

Pete Jones "I will be stepping down from the Chair "
Not bad change out of £1.8m...

There hasn't been such a wild misuse of funds at the racecourse since my 8 year old went in the club shop with a £20 note
Old 28th July 2020, 13.42:58   #8-0 (permalink)
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Quote:
Originally Posted by Haruki View Post
In that year Cost of Sales (football and stadium costs) rose by £620k
Administration Costs rose by £185k
So our total costs increased by £805k.
What exactly would make those costs rise so significantly? What has changed so drastically?
Old 28th July 2020, 14.35:05   #9-0 (permalink)
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Quote:
Originally Posted by -luke View Post
Not bad change out of £1.8m...

There hasn't been such a wild misuse of funds at the racecourse since my 8 year old went in the club shop with a £20 note
I haven't really been keeping up with wst side of things as I am no longer a member, but I am assuming that the £213k is our playing budget for the next season when it starts as well as being a fund for future emergencies and a nest egg for development/investment fund also i.e. all of the money that the club has at its disposal?
I also assume that future season ticket sales and a build the budget and merchandise sales will add to that a bit before the next season eventually starts?

Last edited by eastsussexred; 28th July 2020 at 14.37:37..
Old 28th July 2020, 14.47:17   #10-0 (permalink)
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Default Re: Follow the Money

It looks like the Ward money has been used to hide the fact that the current leadership would have been running the club at a thumping loss. What have we had to show for it ? The worse team ever that was flirting with relegation to 6th tier. Its not as if this was the first year or two of WST leadership either is it ? Plenty long enough to show us that they do not have what it takes even at this lowly level.
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