I've only read the club statement. Losses of 1.55m for the year. Total debt at 1.2m.


Presume some of our debt is tied in with the losses.

Tbh, I think next season, if we remain in the championship, will see a lot of high earning players at the end of their contracts and allow mckinnon to get players in on championship wages.

He is still carrying a lot of last seasons high earning poor performers.

How does this compare to last year's?

debt is 1.2 million, 1.55 million loss last year, what is the forecasted profit/loss for next financial year? 

sorry can't do pound signs on a kiwi keyboard.

"Profit generated in the previous year allowed the company to reduce its debt to £1.2 million down from a peak of £7.3 million in 2007."

Forgive me if I'm wrong but was that part not published in last years accounts? 

Board confident it has mitigated against the worst effects of relegation

I think the board need to give us details on this. Exactly what steps have been taken? 

Really grim reading. 
 

Last edited by WeeDude_83 (01/3/2017 9:05 am)

HeggyHandshake wrote:

Nearly 50k a week running losses.  God only knows what it will be this year.  I am very close to chucking in the towel.

 


I'm nae particularly chuffed but guess that's 2 x compensation packages included in that - hopefully, if we can keep faith in ray, that figure would be reduced significantly. In saying that loss figure includes the sale of 3 players! Can't even hope for that next year.

Maybe fraser and then we roll the Andy robertson dice

Club is dead in its current ownership, if we don't get investment soon then I suspect admin will follow.  You cannot sustain losing 50k a week.    Still can't believe we had debt after all the player sales and the so called soft loans with favourable terms. 

That statement is all smoke 'n' mirrors.

It starts off by saying we have lost 1.5 million in revenue by being relegated but don't worry we have cut 1.5 million in costs but this won't show till next seasons accounts (fair enough you might say).

But later it goes on to say our operating losses for the year are just over 2.53 million a year and this is in a year when we re-couped roughly a million in the sale of 3 players and a Scottish Cup run.

So even after the 1.5million cut in costs we would still stand to lose a MINIMUM of 1 million pounds a year unless we sell players and/or get promoted.

This type of 'hand to mouth' existence the club is currently surviving won't last forever.

I fear 'End Game' won't be too far away unless we get promoted or Robertson/Gauld gets sold in the Summer.

A suicidal way to run a business.
 

I might be reading it wrong but if you start from a position of having £0 and lose £1.5m you now have £1.5m of debt, not £1.2m

So isn't it the case at the start of play we had £1.2m debt and have just piled another £1.5m on top.

That's the way I'm reading it, however I'm not an accountant or understand how these things work.

But if anyone here does understand  there's a job at Tannadice going, take Post Its though.

Then you can help the existing staff to label their arses and elbows.

 

Canadian Arab wrote:

HeggyHandshake wrote:

Nearly 50k a week running losses. God only knows what it will be this year. I am very close to chucking in the towel.

This is the number that I want to know about. When you take out transfers and all that other pish that isn't guaranteed income, what are we losing every week to keep the place running? And why are we losing that amount? If the bulk of it is on player salaries then why do we employ so many players (or have so many players earning more than we can afford to pay)? What would the impact be on the football side of things to get that number to zero?

Edit: I'm not sure it's fair to say it's smoke and mirrors. I think the numbers are probably being reported in a standard business way and they would make sense to an accountant or businessman, or someone with an MBA. Unfortunately they are as clear as mud to the average fan, myself included. I'd appreciate a layman's summary or explanation from the club of what these figures actually mean. I don't think they are hiding anything.

I could be completely wrong, of course.

I am not saying they are 'hiding anything' per se CA (they couldn't get away with that anyway).

But my point is they start off the statement trying to allay the supporters fears about the 1.5 million loss by insisting this amount has already been off-set.

It isn't until almost a little cavaet at the end that you realise the full implications of our losses when they reveal the operating losses even after re-couping sales of 3 players in 15/16.

The full accounts will give a better picture of things of course (once they are released).
 

Blamimg losing 1.5 M on relegation is bullshit

Being honest, I don't understand the summary of the accounts offered by the board. One thing I do follow is that we are struggling very much.

While accepting the two previous management teams had to be paid off and are probably still receiving substantial sums, and several first team squad players are still on large wages for playing in the second tier, the financial situation looks bleak.

And it was the board which offered the management teams, which they chose, the terms they received, so I don't think that can be offered in any way as an excuse.

Really, I don't know where we go from here.

blackandtangerine wrote:

 

Reality is we have to go up this season or get some major investment in. both seem highly unlikely though
 

I'm ever the optimist, but it is ebbing away from me. However, I still believe we'll go up.

 

PatReilly wrote:

blackandtangerine wrote:

 

Reality is we have to go up this season or get some major investment in. both seem highly unlikely though
 

I'm ever the optimist, but it is ebbing away from me. However, I still believe we'll go up.

 

I hope so. I honestly do.