looks like Stoke will be next.

Nothing to do with being a pessimist, just accepting what the current situation is without mocking others.

 

Where have I mocked anyone? Seriously, if I have I genuinely do apologise.

I've asked questions and I've questioned the answers I've been given, but honestly, if I've mocked anyone please point it out so I can edit it with an apology.

 

If "I thought we were next?" isn't taking the piss out of others' legitimate fears then what did you mean exactly?

 

Exactly what I wrote. I've been told that we have zero chance of surviving of our current situation without owner investment, I've also been told that owner investment is not on the table. I've been told that our accounts next year will be infinitely worse than this year's so I'm assuming that we'd be the next championship club to go under?

I'm not mocking, I'm interpreting the information I've been given in the only way I can. Our existence as a club is more than likely going to end next season.

 

Right oh.

 

How else am I supposed to work with the details I'm being given by people who clearly have a background in accountancy? They said it and they are a lot more qualified than me.

Really not sure why you're taking issue with me?

 

The point of accounts is to use them to make decisions and understand the impact of your business actions. We're always going to see accounts well after the year end, so its our first opportunity to make comment.

If we continue to adopt this current approach, buying young untried players for transfer fees without selling our better players to make up operating losses and other shortfalls, combined with relegation, we are in deep trouble.

Funding would have to be sought from some source. My perception and I'm sure its been said by CEO's including this one, but I can't point you directly to the source (and given Conway has been in hiding for a bit, so we can't ask him directly yet), is that the owners don't wish (or aren't able) to fund it.

Something has to give. It shouldn't be the future of the cub as that serves nobody well, but if the current owners don't change tack and generate some cash, then despite our losses being much less than our peers, we have problems.

 

Will we be the last to know?

 

Ok, so things are dire and without some serious shift in policy we'll go under.

In that case I really don't get why I'm taking flak for saying "I thought we'd be next" earlier on in this thread? After reading the comments of some of the more accountancy-minded posters on here I've shifted my feelings on the situation. Isn't that what you're supposed to do? Listen to those more informed and educate yourself?

 

Sorry, I don't believe you weren't being facetious with your initial comment. I don't buy it. There's no point in going any further with it, we'll just continue to go round in circles.

 

Ok.

 

Denise Coates, the founder and joint chief executive of bet365, has taken a £170 million pay cut as Covid-19 brought growth at the gambling giant to a halt.

Coates, who topped the British taxpayer list for the third year in a row in 2020-21 according to the Sunday Times, was paid just short of £250m in the year to March 28, 2021 according to the company's latest set of accounts, down from £421m the previous year. She also received a share of the £97.5m of dividends paid to bet365's directors.

Bet365, which launched in March 2001, is privately owned by Coates, her brother and fellow joint chief executive John, and father Peter, but news of her pay is an annual cause of controversy.

The family paid an estimated £481.7m in tax in 2020-21 according to the Sunday Times, more than £180m more than the next highest tax payer, the hedge fund manager Chris Rokos.

in her review of the business, Coates said the Covid-19 pandemic had had a "significant impact" on the company, with the suspension of sport resulting in "dramatically reduced revenues". However, business increased to pre-pandemic levels following the resumption of sport and, with a "significant migration" of customers to gaming from sports betting during lockdowns, overall revenues remained "broadly flat" at £2.8 billion.

"I am delighted with how the group responded and adapted to these challenging circumstances," Coates said.

Operating profit for the sports betting and gaming segment of the group stood at £341.m and, after losses at Stoke City football club were included, overall group operating profit rose by 47 per cent to £285.5 million, which the company said was "largely attributed to a reduction in remuneration". Staff costs for the sports and gaming division fell to £701.3m from £870.6m.

Active customers increased by 13 per cent but the amounts wagered on sport fell by 13 per cent. In-play betting represented 68 per cent of sports revenue, down from 75 per cent, and while mobile sports revenue fell by two per cent it remained "the most popular medium for sports betting".

Coates also said that the "paramount commitment of the group to safer gambling continued through the period" and that bet365 "continued to invest significantly in this area".

The company said that contributions to research, education and treatment of gambling-related harm were increased in line with a commitment to increase contributions to one per cent of UK gross gaming revenue by 2024.

The company also donated more than £1m to NHS Charities Together through the Virtual Grand National.

At the end of the period bet365 had 5,443 staff, up from 5,014 the previous year.

A contribution of £100m was also made to the Denise Coates Foundation charity, up from £85m the previous year.

 

That's really gracious of her. I don't know how she's going to cope on only £250 Million

 

To be fair to her she does pay all her taxes instead of squirelling her dosh away in off-shore accounts and other tax dodging mechanisms. Rather left of centre too I believe.

 

I honestly couldn’t give a **** about finances. Ours or anyone else’s. I don’t temper anyone every caring until very recently. It is what it is.