Our administration figures

[lardy]

Clock in at over £100,000 per day. How is it possible to spend that much? Money is surely being siphoned out of the club under this miscellaneous cover.

[Baloo]

Is there really no requirement for the club to explain why they're so high?

[lardy]

Is there really no requirement for the club to explain why they're so high?I'm not naive, I know in business that lots of things get put on the account. When we have 'special guests' flown in from Malaysia, it's the club that foots the bill. But this is the best part of a million quid EVERY WEEK. You'd be even more naive to accept that it's all necessary to run a football club nowadays.

[Loya Jirga]

Clock in at over £100,000 per day. How is it possible to spend that much? Money is surely being siphoned out of the club under this miscellaneous cover.50 years of supporting Cardiff would cover 2 hours of admin in 2014!

[the other bob wilson]

Is there really no requirement for the club to explain why they're so high?
They're called accounts, that means accounting for stuff. I can't believe it's ok just to shove things under a generic name and that's that.I make that 71% of that £157 million mentioned earlier and, to the best of my knowledge, there has never been an explanation in any of the Accounts during the period listing the sort of things that qualify as "Administration Expenses".

[lardy]

Clock in at over £100,000 per day. How is it possible to spend that much? Money is surely being siphoned out of the club under this miscellaneous cover.
It is certainly an area of concern. Is this the 1MCC project? Is this the cost of shipping the Malaysian transport secretary and his ilk over? Just what costs 100k a day? And why is it the one area where the numbers grow exponentially? And why aren't the media querying it? Basically, the first 1500 fans in the ground every week are paying for that week's admin. Should we be happy about our ticket money being used as a pawn for Mr Tan's empire? Perhaps we should be grateful...

[Loya Jirga]

Is there really no requirement for the club to explain why they're so high?
They're called accounts, that means accounting for stuff. I can't believe it's ok just to shove things under a generic name and that's that.
I'm not naive, I know in business that lots of things get put on the account. When we have 'special guests' flown in from Malaysia, it's the club that foots the bill. But this is the best part of a million quid EVERY WEEK. You'd be even more naive to accept that it's all necessary to run a football club nowadays.That is quite frightening, if anyone is being honest. That half of the club's turnover in the PL season has been spent on "unexplained" items, and that 7 quid in every 10 quid of the club's current debt is as a result of "unexplained" items is bizarre. I remember fans singing "where's the money gone" after the sale of Blake. Perhaps, instead of fawning over the owner as a significant number of people reportedly did yesterday, they should be singing it again.

[the other bob wilson]

Is there really no requirement for the club to explain why they're so high?
They're called accounts, that means accounting for stuff. I can't believe it's ok just to shove things under a generic name and that's that.
I'm not naive, I know in business that lots of things get put on the account. When we have 'special guests' flown in from Malaysia, it's the club that foots the bill. But this is the best part of a million quid EVERY WEEK. You'd be even more naive to accept that it's all necessary to run a football club nowadays.
Our turnover was just over £80 million in the last financial year and half of that (or two thirds of the television income received from the Premier League) was taken up by "Administration expenses".To be honest, I tend to think that there is probably a reasonable explanation as to why the figures are so high, but the lack of an explanation in the Accounts (or at least there isn't one I can identify) themselves is not doing the club any favours in this instance.

[Vimana.]

Sid or Jimmy Jimmy or Ragbone or Valley Boy will skip along any minute to tell us to run along . To not to be concerned with this - it is none of our business (phew, thats OK then).
Our function being solely to bow our heads and be grateful to the great benevolent saviour.
And his newly rediscovered love for the fans of Cardiff.

I'd be relieved if Since62 really could reassure us over what Simon Lim advises on last occasion.

[Jimmy Jimmy]

Vimana - I'm here - just been reading it all, yes it deserves to be explained as to what exactly the money has been spent on. I would guess it's as been stated already - Tan wants to impress a potential client - so flies him over 1st class - puts him up in a hotel and then takes them to a game at Old Trafford etc - like Ken Bates used to do at Leeds - fly in from Monaco (at clubs expense etc)

In this case it's a very strange circle - Tan loans the club money, and gets the sky money, then spends the money he has loaned on himself and his clients, of which the club is liable - but seeing as it's a loan - he knows the club cant afford to pay him back.

If he wants his money back it's his problem not ours. If he has broken any rules etc then the club will be investigated / fined / docked points etc - and if the club hasnt then it goes back to square 1 - in that it's his problem regarding the money.

Rough estimate - average season ticket is what - £400 ? multiplied by say 15,000 season ticket holders is £6,000,000 which in the grand scheme of the clubs spending is not that much.

[Since62]

Is there really no requirement for the club to explain why they're so high?
They're called accounts, that means accounting for stuff. I can't believe it's ok just to shove things under a generic name and that's that.
I'm not naive, I know in business that lots of things get put on the account. When we have 'special guests' flown in from Malaysia, it's the club that foots the bill. But this is the best part of a million quid EVERY WEEK. You'd be even more naive to accept that it's all necessary to run a football club nowadays.
Our turnover was just over £80 million in the last financial year and half of that (or two thirds of the television income received from the Premier League) was taken up by "Administration expenses".
When Sam Hammam took over back in 2000, we were, to all intents and purposes, debt free - fourteen years later the club Accounts show us to be £157 million in debt (that means an average loss of just over £11 million a year).Keith

[Jimmy Jimmy]

Keith re

"£6m of player write down at the year end plus a write down of the Ninian Stand value of about 50% or £6m. All 3 of these costs were in admin costs."

Does it matter a great deal if the new stand went as admin cost or a 'building cost' - the money has still gone out of the club and has been covered by either a Tan loan or Sky TV money paid for it. Does it make any difference as far as HMRC are concerned ?

[Heisenberg]

Keith re That's fine then http://www.ccmb.co.uk/images/smiley_icons/thumbup.gif

[ZZ Jack]

Clock in at over £100,000 per day. How is it possible to spend that much? Money is surely being siphoned out of the club under this miscellaneous cover.I've said for years there has been some creative accountancy going on. How can you lot loose so much money, when you had eight thousand more for your home games than we did for ours? Tan is a billionaire, where as our owners are just millionaires. He didn't make his money investing in businesses that loose money. http://www.ccmb.co.uk/images/smiley_icons/sherlock.gif

[Taunton Blue Genie]

Clock in at over £100,000 per day. How is it possible to spend that much? Money is surely being siphoned out of the club under this miscellaneous cover.
I've said for years there has been some creative accountancy going on. How can you lot loose so much money, when you had eight thousand more for your home games than we did for ours? Tan is a billionaire, where as our owners are just millionaires. He didn't make his money investing in businesses that loose money. http://www.ccmb.co.uk/images/smiley_icons/sherlock.gif This all loose talk.

[Since62]

Keith re Both player amortisation (£15m) and impairment (£6.6m) were similarly profit and loss account costs rather than cash items.