Spot on, Loko. Definitely maximum effort at Wrexham & no club can match the popularity of their ownership. Saw this promo for 1password & gives a feel for revenue potential Then there's the hint of Red Notice, the highly successful Netflix film being linked to the Red Dragons ....and so on
Being that you intend making money & backing us to get relegated to division 2 next season do you intend on placing a bet on this latest prophecy of yours ? I have said to you that I will offer you better odds than the bookmakers do on your flutter on our relegation & I sincerely mean it , I am hopeful that we will bounce back from this seasons disaster .
I had a look at their accounts and I don’t see where you are getting a £4m loss from or the £7m debt. Companies House last filed accounts to 30 June 2021. Retained earnings have increased from -£2m to -£4.6m. This indicates a loss for the year of £2.6m. These losses were covered by an interest free loan from the owners. Net liabilities are £3m. Not great reading but as you say a loss of £50k per week. For lower league clubs without central distribution payments COVID has been catastrophic to their finances but Stockport’s owners have chosen to put in their own capital to meet this shortfall with no interest charges.
The £7m is potential debt upon the point they gain promotion this season due to increasing the wage bill and investing more funds in to the playing squad.. So wasn’t in relation to their last set of accounts but how much the debt had increased since (was speculative and should have added the word potentially, but came from their fan base). All my finance info tends to come from Price of Football so I’ll just be quoting Kevin Maguire. I’m not sure a loan of any kind, when you’ve still spent £275k on transfers at that level, can be seen as a good thing. But we do have a habit of dressing things up differently on here when it isn’t our own team.
@Loko the Tyke - You honestly think I deliberately paint our owners in a poor light and praise others? Stockport County’s owners have provided capital, interest free, and invested heavily in the infrastructure of the ground and extended the lease with the council to 250 years. They have a plan and are risking their own capital, quite a contrast to our owners who’s plan involves none of their capital and using capital provided by the supporters of the club to meet the purchase price of the club.
I don't think it's hard to paint our owners in a poor light. It's as clear as day to most supporters. I do think though, given the overwhelming dislike for the owners that you have, that you don't critique other clubs and their failings quite so much. I love that Stockport are on the verge of getting back to the level I remember them being at. I don't love that they're racking up a massive debt to get their though, interest free loan or not.
All you did was point out Stockport had lost money and the owner was underwriting it and that Ryan Reynolds has shot some promotional videos for Wrexham. You then pointed out we've also lost money, well I'd rather lose money and have a season like Stockport than have one like we are suffering because our board haven't got a clue how to run a consistently successful and stable football club. As for Wrexham you just pointed out Ryan Reynolds had made some promotional videos for Wrexham well so what Whitey's made some for us. To be honest I'd much rather the board, all members of the board just sold the club to somebody who actually gives a toss about the club, but given that's not very likely in the near future I'd like them to put money into our club instead of stockpiling European clubs in the hope they'll be able repeat their luck at Nice. Their plan isn't and won't ever work long term you simply cannot sell first team regulars and replace them with U21 projects that are then thrown to the Wolves by being played in the first team before they are ready all in the name of profit generation and with little attention given to on field performance. I get that we have to sell players occasionally but don't accept that we have to replace them with untried project signings every time. I'm no lover of Patrick Crynes over all stewardship of the club but at least when we were recruiting players on his watch we tried to sign the best possible replacements for the players we sold not the cheapest and the players were signed to improve the squad as the first priority not the last.
I think I pointed out their global popularity and reach, and how that's a pretty easy lever to unite a community in somewhere like Wrexham. I love Whitey, but he's not dragging as many people to Oakwell as Ryan Reynolds and Rob McElhenney could - no matter how good and emotional some of his videos are. I'll ask again though. Given your utter contempt for the owners, and how much you dislike them, what investment do you want from them and on what terms?
Well returning £750k would be a start and also stumping up the cost of the failure of their plans and decisions this season, they should cover any loses we incur due to relegation because the fault for the relegation lies at their door. I want the owners to put money into the club not in the form of loans but actual investment maybe in the form of a share issue.