Annual report and financial statements to 30 June 2020 published

[Wrexy]

Tricky year so no great surprises in the loss of revenue and losses:

https://www.wrexhamafc.co.uk/news/st...ial-statements

[FieldtownRed]

“a reduction of £1.603m in transfer fee income“

That’s the Danny Ward money from the year before then?

[Ddraigoch]

£740k loss on the year’s activities. Obviously this is before the takeover.

[El Jonez]

Originally Posted by FieldtownRed

“a reduction of £1.603m in transfer fee income“

That’s the Danny Ward money from the year before then?

Sounds like it!

I remember being so enthused by this money, and how it was going to be a real game changer for the club with a budget to buy better players.

Shows how dangerous money can be, when in the wrong hands.

[krux]

loss for the year was £740k.

That lays bare the financial position of the club. Ok Covid had an impact , but that only kicked in from March, season ticket sales and gate receipts etc were as normal to that point. Plus the furlough cash of £320k would mitigate covid impact.

I think without covid it would have still been a £500k loss.

assuming that this year was the same (optimistic), then half of the R&R cash is gone already

[oswestryred]

Originally Posted by krux

loss for the year was £740k.

That lays bare the financial position of the club. Ok Covid had an impact , but that only kicked in from March, season ticket sales and gate receipts etc were as normal to that point. Plus the furlough cash of £320k would mitigate covid impact.

I think without covid it would have still been a £500k loss.

assuming that this year was the same (optimistic), then half of the R&R cash is gone already

I understood the R&R original cash was an initial payment, more to come as necessary, if so, no need worry

[krux]

Originally Posted by oswestryred

I understood the R&R original cash was an initial payment, more to come as necessary, if so, no need worry

yeah, you're right. plus future revenue streams etc.

I'm not worried, just making the point that we don't necesarily have 'spare' £2m, as that was what was required to keep us going

[Wrexy]

Originally Posted by krux

loss for the year was £740k.

That lays bare the financial position of the club. Ok Covid had an impact , but that only kicked in from March, season ticket sales and gate receipts etc were as normal to that point. Plus the furlough cash of £320k would mitigate covid impact.

I think without covid it would have still been a £500k loss.

assuming that this year was the same (optimistic), then half of the R&R cash is gone already

I dread to think what the numbers will be like for the year to 30 June 2021.

Thankfully our new owners have deep pockets and whilst the off-field revenue engine builds they will need them. Thank God they stepped up when they did.

[EnglishRed]

It just demonstrates what position we would be in if the takeover hadn't happened. No idea how the WST could have covered losses like this- god knows what the budget would have been next season.