From the Yorkshire Post - Tykes Return Profit

Great job Gordon. nt

 

Starting to come good again well done to em all.

Hopefully this will continue on the field as well.

 

Fingers crossed.

Can't wait for the season to start now.

 

Congratulations to Andy Ritchie

For not wasting money on useless signings in the close season and creating a promotion winning side with buttons for a budget

 

RE: Congratulations to Andy Ritchie

(blaze)

 

does anyone have any ideas as to the size of this profit ?

I am hoping for approx &pound;1.5m based on the increased Champ crowd revenue and the pace of the turn around already achieved by GS. If it is and GS budget and get the same for the next two seasons then the club will be all but out of debt. </p>

 

Don't think it will be in the millions just yet. Got to take into account the fees we paid out for McCann, Ferenczi etc in January.

 

aren't those fees capitalised and written off over the length of the contract ?</p>

I've estimated that the increase in gate receipts alone should be in the region of &pound;1.5m.</p>

 

The last run of home games must have put some decent money in the bank account.

 

Depends on the transfer arrangement, but allot of smaller foreign clubs demand payment upfront rather than stagger over xx months. You'll probably have signing on fees, extra wages for all the loan signings. Didn't we also have to pay off Ritchie?
The extra revenue from Sunderland, Derby, Birmingham, the games that fans moaned about the extra away support, will all help us come out of the Red.

 

aye I'd based the income on average home gate</p>

2005/06 9k</p>

2006/07 13k</p>

diff 4k x 23 matches = 92,000 @ say &pound;17 per head = &pound;1.564m</p>

I know this is very simplistic but it should be an outline guide.</p>

 

Being an accountant and by definition a misserable fecker, I am also a pragmatist in that if we can't fill the ground then let someone else do it. If we had an average home gate of 18k then it would be a different matter... but until that day..'welcome mr/mrs wednesday/ united/ sunderland etc etc fan, your money will do nicely !!!!'

 

Great news.

A massive well done to everyone involved.

 

football clubs are no longer allowed to capitalise transfer fees

also paying cash in stages wouldn't help the profit figure either, although you could argue that fees based on appearances and goals etc etc would help. However I suspect these are classified as contingent liabilities and would be recorded in full.

 

football clubs are no longer allowed to capitalise transfer fees

also paying cash in stages wouldn't help the profit figure either, although you could argue that fees based on appearances and goals etc etc would help. However I suspect these are classified as contingent liabilities and would be recorded in full.

 

Eh? How does payment profile affect how you capitalise an asset on the balance sheet??

 

are you sure ? I thought they were viewed as an intangible asset and capitalised as goodwill. This is unlike players from the acadamy who's goodwill is internally generated and therefore not able to be capitalised.</p>

I've just looked at BFC accounts for 2006 and the accounting policies show that the costs relating to players registrations are capitalised as intangibles and amortized over the length of the contract. </p>

If i've missinterpreted the situation, apologies.</p>

 

just looked signing on fees are written off to p&amp;l

 

Excellent.

Well done BFC

 

Excellent.

Well done BFC