£198m losses on the P.& L
Points deduction Shirley ?
https://twitter.com/kieranmaguire/st...2ytoljbaVky0jw
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£198m losses on the P.& L
Points deduction Shirley ?
https://twitter.com/kieranmaguire/st...2ytoljbaVky0jw
https://www.bcfc.co.uk/news/city-ann...2122-accounts/
Their official announcement.
£28.5m pre tax loss according to this.
Vinny was shelling out more than that over the year out of his own pocket apparently.
Does that mean they're run better than we are?
isn't it a 39m loss over 3 seasons we are allowed?
Not sure. Bristol City have lost well over £60m over the last two though.Quote:
Originally Posted by Rjk
What are our losses in comparison?
Nowhere near BristolQuote:
Originally Posted by blue lewj
The “losses” we’ve apparently sustained will really be a cash deficit - not an accounting loss.
They are two very different things.
It shows how rotten football has become
We taunt our rivals and are taunted by those same rivals for the financial state of our clubs .....which in reality has nothing to do with the loyal fans of Cardiff City , Bristol or whoever
In the greedy league clubs taunt each other over how much money they have got and taunt the likes of Newcastle over .....bad money ......when they get a slice of the pie
It's all bollocks
What does that mean to ordinary people ?Quote:
Originally Posted by The Hooded Claw
Covid has made the regulations more complicated it seems.Quote:
Originally Posted by Rjk
https://www.bristolpost.co.uk/sport/...s-year-7835672
They and you are right Paul.Quote:
Originally Posted by the other bob wilson
There are adjustments allowed by the EFL which increase the losses allowable over the Covid impact period. Each application by a club for a Covid adjustment has to be audited by the EFL before it is allowed in the calculation.
It's not a loss if someone steps in to reduce the borrowing (as long as it's by legal means). How do you think Cardiff have managed to avoid it?
Financial Fair Play was introduced ostensibly to protect smaller clubs from unscrupulous owners, who could borrow excessively, and bankrupt their club. Sadly, clubs have continued to go out of business, so you could say it had failed, in that respect. What it was actually for, was to protect the positions of the big European clubs, and to that end it has worked brilliantly, to the point where they are almost out of sight, and out of reach. Only serious unlimited money can get round things as they stand (like Newcastle, Man City).
I know I seem to bring this subject up on a regular basis, but in recent years I've come to the conclusion that the whole set-up is there to benefit and protect the big clubs, and the rest can go hang. Sorry, but it's true.
FFP (or P&S as it now is) is not based on borrowings but on losses incurred in financial years. Reducing borrowings only reduces a loss if it reduces interest charges not the loan itself.Quote:
Originally Posted by tforturton
We have avoided sanctions because the level of our losses has been below allowed levels.
That’s way too long for a Tuesday morning. Are the Wurzels getting deducted 30 points or nah?Quote:
Originally Posted by Rjk
no mention of itQuote:
Originally Posted by Canton Kev
Ah well. Fingers crossed :hehe:Quote:
Originally Posted by Rjk
Wages £30 million. Gate receipts £5 million.Quote:
Originally Posted by Rjk
It can't go on. Them, City, most Championship clubs, debts getting bigger and now more costly to service.
The only way for things to change is to force players wages down to an sustainable level. the cap on the wage bill as a percentage of income was meant to do this but I don't think they defined "income". Perhaps someone can explainQuote:
Originally Posted by A Quiet Monkfish
Cardiff City benefitted through parachute payments. Hence the systematic cut backs in the last couple of seasonsQuote:
Originally Posted by tforturton