2018-19 £21.4m loss
2018-19 £21.4m loss
Just reported that in 2018-19 the pre-tax loss was £21.4m, against £4.3m loss the previous accounting year
Link to BBC article https://www.bbc.co.uk/sport/football/52213306
Link to BBC article https://www.bbc.co.uk/sport/football/52213306
Re: 2018-19 £21.4m loss
I'm sure a few people will be unhappy that it isn't £29,999,999.99 because, of course, that level of spending would have guaranteed our promotion.
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- Simon Grayson's Hairdresser
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- Joined: 25 Feb 2014, 22:54
Re: 2018-19 £21.4m loss
Rigger You probably may be correct. However having watched the second Sunderland till I die series spending money (on the likes of Will Grigg) does not guarantee results or promotion. The monies that we have spent on Augustins and Poveda wages have not to date provided any benefits.
Re: 2018-19 £21.4m loss
A few observations.
Wage bill is completely out of control.
Whilst AR has lent the company funds zero additional capital was added throughout the period.
Clearly is difficult to ascertain what expenses are being taken by Group (AR) however there is a £150k pa management charge in addition to £1.5m pa rent for the ground.
FFP loss is circa £17m
We appear to be forward selling some of our transfer fee income / debt.
Wage bill is completely out of control.
Whilst AR has lent the company funds zero additional capital was added throughout the period.
Clearly is difficult to ascertain what expenses are being taken by Group (AR) however there is a £150k pa management charge in addition to £1.5m pa rent for the ground.
FFP loss is circa £17m
We appear to be forward selling some of our transfer fee income / debt.
- One Eyed Thompson
- Brian McDermott's optician
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Re: 2018-19 £21.4m loss
I take it the FFP rules are going to be adjusted seeing as all clubs are haemorrhaging money at the minute. Was the figure £39 million over a three year period? Surely the powers that be have to give some flexibility.
Re: 2018-19 £21.4m loss
So that's a £25.7m loss over two years. If we don't get promoted, presumably we will crash through that £39m over 3 year rule and get a point deduction next season, especially if we still have to pay £15m for Costa and any other commitments we have made. We would have no choice but to sell Phillips and our other star assets for whatever we can get for them.
Getting to the promised land is our only hope.
Getting to the promised land is our only hope.
Re: 2018-19 £21.4m loss
Note - a transfer fee is amortised over the length of the contract for the purposes of FFP. So therefore Costa is a £3m hit the P&L pa
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- David O'Leary's baby-sitter
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Re: 2018-19 £21.4m loss
all over my head tbh,
we barely buy anyone,same team as last year,
sold pontus,roofe,jack Clarke, plus a few bits of deadwood,
full house every week, still run at a lost
so how do other clubs manage, i have no idea.
we barely buy anyone,same team as last year,
sold pontus,roofe,jack Clarke, plus a few bits of deadwood,
full house every week, still run at a lost
so how do other clubs manage, i have no idea.
- Another Northern Soul
- LUFCTALK Moderator
- Posts: 7537
- Joined: 01 Nov 2015, 09:55
Re: 2018-19 £21.4m loss
The accounts are for before those sales.whitedancer wrote:all over my head tbh,
we barely buy anyone,same team as last year,
sold pontus,roofe,jack Clarke, plus a few bits of deadwood,
full house every week, still run at a lost
so how do other clubs manage, i have no idea.
- PhoenixUnited
- Dick Ray's Talent Spotter
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Re: 2018-19 £21.4m loss
This is a sobering point of reference for those who hanker for the club going after the players that might cost between £10m and £20m and can't understand the club not wanting to "live the dream"
Whilst Andrea Radrizzanni is keeping a tight grip, or at least having a damn good go at it, the level of investment needed cannot be met clubs owned by countries it seems and even some of those are not squeaky clean. We are just about managing to keep our heads above the water - that much is clear.
I think the current crisis will have a huge impact on how football carries on in the future on all levels and especially finance. Not all clubs are going to com out of this unscathed in any case
Personally, if we can carry on playing the kind of football we have played in the last two seasons I won't be disappointed although reaching the Promised Land would be nice!
Whilst Andrea Radrizzanni is keeping a tight grip, or at least having a damn good go at it, the level of investment needed cannot be met clubs owned by countries it seems and even some of those are not squeaky clean. We are just about managing to keep our heads above the water - that much is clear.
I think the current crisis will have a huge impact on how football carries on in the future on all levels and especially finance. Not all clubs are going to com out of this unscathed in any case
Personally, if we can carry on playing the kind of football we have played in the last two seasons I won't be disappointed although reaching the Promised Land would be nice!
Keep The Faith / WAL