Sheff Weds Latest Accounts. Wow!!!!

he’s read my message. But ignored me. In fairness, that’s what I’d do.

 

The following are all out of contract or their loan deals are ending.

 

That can’t be right.

They’re massive FFS!!

 

Very Trump

 

They reportedly spent over £10m on Adam Reach and Jordan Rhodes alone. And now they're losing them for nothing. It's a business model to be admired.

 

As somebody who spends a lot of time reading financial statements these are certainly eye opening.

To put these figures in context I’ll put in a basic summary below;

2018

Total revenue (income generated from all activities excluding player transactions and stadium sale) £25.2m
Cost of sales (mainly salaries) £48.9m
Operating loss £23.7m

Amortisation of player costs (This is the depreciation on player costs) £10.9m

Overall loss £35.4m


2019

Total revenue (income generated from all activities excluding player transactions and stadium sale) £22.8m
Cost of sales (mainly salaries) £39.8m
Operating loss £17.0m

Amortisation of player costs (This is the depreciation on player costs) £8.6m
Sale of stadium profit £38.1m
Settlement £6.5m

Overall profit £19m

In 2019 they have received only £7.5m of the stadium sale proceeds and in aggregate have negative asset value. Nearly £80m of future rental payments for their own ground.

 

He'll take a loan out for £63 million on the ground, just before they go into admin. Didn't something like that happen at Wigan?.

 

Does it not imply that they pay £3million rental per year. That’s a decent signing on fee they’re missing every year!

 

yes but as long as he keeps chucking his cash in then it will continue

the problem for them will be when he no longer fancies putting half a million a week in.

 

So they have basically no assets whatsoever.

Aged players with no resale value.

A ground they dont own.

Training ground owned by Sheffield citycouncil.

 

Peanuts to what Durkar was alluding to.

 

And the interest rate will be exorbitant. What's a few acres of flood prone land, in a 5hite Sheffield suburb, that needs clearing, worth?

 

Who are we talking about? Not sure I understood the original post.

 

Look up what iSoft did. Not what the company were accused of doing or what is alleged, there's no accused or alleged about it, it's what the company actually did. A contract was logged into the accounts of one financial year when it shouldn't have been. What looked like a profit was actually a significant loss. Lots of shares were sold for millions of pounds when everyone believed it was a profitable company. What's never been proven is if the directors of iSoft, who sold a lot of those shares, knew about the accounting irregularities. The case against the directors collapsed. But those irregularities did happen, that case didn't collapse, and they make the sale of Hillsborough look like pocket money.

 

Rhodes cost £10million

Reach £5million

Then their wages.

 

They should just start the phoenix club now. Bet that Aquaforce pillock regrets winding up Shaw Lane, could've become massive playing on Oughtibridge Park.

 

From their side it must be slightly worrying that (apart from kids who don't play) that their youngest 'regular' is far and away older than our average........ coupled with the fact that the 'experienced' players aren't performing either. As the weeks and games go on I would envisage some strange self preservation injuries in the pre event of looking for pastures new.

 

Imagine if that prince who owns Sheffield Utd turned round and said I'll buy Wednesday, clear the debts but you have to dissolve the name and become United and knock Hillsborough down for luxury flats. (I know it's not allowed in the grand scheme of things)

 

The fee for Rhodes seems to decrease every year. When they signed him, they were bragging it was £10m. When he refused to take the penalty in the play offs, it became £8m. And after his permanent move to wherever he was going to move the summer before last broke down (wasn't it Blackburn), it was touted they'd only paid £6m for him.