BFC Accounts 2019/20

Can I ask a question of those of you that understand the accounts, please?

I see we have reported a "modest" £280k loss for these accounts. Do the accounts show how much the club have in actual cash reserves, overdraft facilities, etc? I'm just wondering where the £280k is coming from? Have the club got a positive bank balance, and it just comes out of there, or an overdraft, or are the owners funding the loss?

Also, many thanks for breaking them down. It's much appreciated...

 

T'old Darragh lying about transfer fees? Never...

 

£770k cash on balance sheet, this has reduced considerably over the last two years from £2.6m the previous year end and £5.6m the prior year.

 

The thing with reporting just before the deadline for a companies accounts, they are massively out of date already. I'll be very interested to see what happened in the 20/21 year and that linear decline in cash flow is a bit of a worry, especially given the pandemic and our net incomings outgoings weren't massively significant.

 

So cash 'earned' by the club that they bought has been used to pay a previous owner's family as part of the new owner's deal to buy it? That's an extra £10k a week on a players wage for a year gone. Or three years rent on the stadium.

Assuming that their up front investment was paid back & they got more on top from the new consortium, are the Cryne family the only people ever to make a profit from Barnsley Football Club?

 

Thank you. What would be the reason for the reduction? I'd assume covering the loss of revenue for the season in League 1 and loss of matchday income? Or are the owners taking money out of the club(which, if we are being fair they are entitled to do legally if not morally)?

 

How can the "promotion bonus incentive" be paid to the Crynes from the football club? Should it not be paid by the owners/owners investment vehicle?

 

It depends how it was all worded in the contract, I suppose. If it was specified that it would be paid out of the increased revenues the club would generate from being back in the Championship, then that's fair enough.

It's like the old saying though, never use your own money to invest.

 

The cash in the prior year reduced by £3m predominantly driven by the loss of £3.4m. Last year the level of cash fell from £2.6m to £770k. The only cash taken out of the club is the £750k to fund BFC investments payment to Oakwell holdings.

 

It has been paid to BFC Investments by the football club but the debt has then been cancelled between the club and BFC investments.

 

The contract should be between the Crynes and Conway & Lee (et al) and their respective parties for BFC. BFC shouldn't be paying that amount to my mind, its a consideration as part of the sale and would be in the heads of agreement.

I think there was talk of some higher financial agreement waived for a guaranteed lesser amount (this £750k), so I've no issue with that. But i'm concerned £750k of cash has vanished from the clubs coffers when I'm not sure it should have. Even more so given the times we're in and how many fans stumped up to essentially save the club.

 

Excellent accounts, well done.

 

He's been a useful squad player in a play-off team.
Other clubs have better strikers but outside the parachute payment brigade, nobody in this league has four first choice strikers to rotate. Also if we have paid £8 million for that list of players and some didn't work, I would regard that as necessary collateral to developing players, some work, some don't. The ones from that list that have worked would now cost well over £8 million to buy in. I'd also make the point we seem to be getting better as the three signings for this season who have hit the ground running, Helik, Brittain and Morris proves

 

Some tweets about it all here.

 

Of the incoming transfers it could be argued we've only (depending on individual transfer fees) value for money by only two or three of them.

Hopefully we can recoup some coin from the others when they move on.

 

Sod player purchases, this is a hugely important point.

Happy to stand corrected but if revenue generated by the club is being used to buy it for the businessmen of Pacific Media Group, it makes a mockery of any assertion that they aren't taking money out of the club. That's simply a lie surely as they are gaining assets from the club's doings? Unless it's due to be paid back?

£750k might as well be our season ticket money. It's very, very wrong as I understand it.

 

Also worth noting the level of fees incoming at £8.2m.

That would equate to an average of just under £2.75m per player. Of course there could be clauses galore, though Wigan having to sell for under value and Lindsay seemingly surplus to requirements, only Pinnock may trigger anything. But that feels a little less than the value we thought we may be getting.

 

If you was signing purely for only that coming season you would have a point.
And whilst that point still does have some validity, it’s only at the end of their time at Barnsley it can be judged properly.

 

Grace Hung is most definitely not a businessman.

 

Isn’t that basically what Glaziers have been doing?