BBC Wales report on 2020 CCFC accounts
Just clicked on it via the BBC News Wales section of the site and they have badly misunderstood/misquoted one figure.
They say that the net liabilities of CCFC are £118m. This is in fact the total liability figure for amounts payable within one year , and ignores all of the club`s assets (net liabilities are total liabilities less total assets).
The actual net liability figure as at 31 May 2020 was in fact £24m.
The media were sent a copy of my commentary on the accounts this morning as soon as I was able to release it , but it seems they have not read it.
1 Attachment(s)
Re: BBC Wales report on 2020 CCFC accounts
Would the £118 m be the equivalent value to this chart?
Attachment 4440
if so we would be at the upper end of the league
Re: BBC Wales report on 2020 CCFC accounts
[QUOTE=Rjk;5195809]Would the £118 m be the equivalent value to this chart?
Attachment 4440
if so we would be at the upper end of the league[/QUOT
It would be , but most of our £118m is either payable to Vincent Tan or repaid to others in 2020/21. We then borrowed some more some time between May 2020 and April 2021 but again this would have been repaid out of our 2020/21 (last) parachute payment.
Re: BBC Wales report on 2020 CCFC accounts
Quote:
Originally Posted by
Ninian1962
Quote:
Originally Posted by
Rjk
Would the £118 m be the equivalent value to this chart?
Attachment 4440
if so we would be at the upper end of the league
It would be , but most of our £118m is either payable to Vincent Tan or repaid to others in 2020/21. We then borrowed some more some time between May 2020 and April 2021 but again this would have been repaid out of our 2020/21 (last) parachute payment.
thanks, so potentially not as bad as it seems
