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Thread: Cardiff City's Latest Accounts: Trust Chair Gives His Analysis.

  1. #21

    Re: Cardiff City's Latest Accounts: Trust Chair Gives His Analysis.

    Alot of thinly veiled digs at Tan, despite him being one of the best owners we've ever had

  2. #22

    Re: Cardiff City's Latest Accounts: Trust Chair Gives His Analysis.

    Great summary Keith,

    Looks like that headline figure not the true picture with some deferred revenue and costs to come.

  3. #23

    Re: Cardiff City's Latest Accounts: Trust Chair Gives His Analysis.

    Quote Originally Posted by WJ99mobile View Post
    Alot of thinly veiled digs at Tan, despite him being one of the best owners we've ever had
    I get some people don't like Tan but some just keep on slating him for the things he's done and everything the club does.
    These fans never stood up to a certain previous owner and never spoke out about him whilst he ran the club like a circus.
    I will always speak up against these hypocrites when they bash the club at every opportunity.

  4. #24

    Re: Cardiff City's Latest Accounts: Trust Chair Gives His Analysis.

    Quote Originally Posted by WJ99mobile View Post
    Alot of thinly veiled digs at Tan, despite him being one of the best owners we've ever had
    My own comment wasn't a thinly-veiled dig. Some owners plough tens of millions of pounds into clubs because it attracts kudos or they have a local connection with the club or because they are huge football fans. The kudos aspect has probably dissipated considerably due to City's current level of football and the club doesn't seem to have the feeling of being the start of another exciting project. In such a situation and after a few years of flying close to the sun it would be understandable if Tan's interest were to wane somewhat and whilst still burning a big hole in his pocket. All owners move on eventually after all.

  5. #25

    Re: Cardiff City's Latest Accounts: Trust Chair Gives His Analysis.

    It does make you wonder what his reasons are for staying. Heís never gonna make a profit from the club. He doesnít spend much time here anymore. Is it just a toy heís got fed up of playing with, and has left it to gather dust, or are there any financial positives in carrying on?

  6. #26

    Re: Cardiff City's Latest Accounts: Trust Chair Gives His Analysis.

    Swiss Ramble's take on City's latest accounts;-

    https://mobile.twitter.com/SwissRamb...47425607991298

  7. #27

    Re: Cardiff City's Latest Accounts: Trust Chair Gives His Analysis.

    Quote Originally Posted by the other bob wilson View Post
    Swiss Ramble's take on City's latest accounts;-

    https://mobile.twitter.com/SwissRamb...47425607991298
    Thanks, I always like the additional context he gives vs the other clubs in the league, it at least makes me feel like I understand what's going on.

    A couple of things stood out to me:

    1 - how reliant we are on Vincent Tan
    2 - how most championship clubs seem to lose a lot of money
    3 - the money from the premier league and parachute payments has been largely squandered, and things will be tight next season.

    4 - we would have broken even this season if it wasn't for covid
    5 - how little money we have made over the years from player sales

  8. #28
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    Re: Cardiff City's Latest Accounts: Trust Chair Gives His Analysis.

    Quote Originally Posted by the other bob wilson View Post
    Swiss Ramble's take on City's latest accounts;-

    https://mobile.twitter.com/SwissRamb...47425607991298
    Always interesting commentary. The context comments are most useful to me:

    Although #CardiffCity £12m loss is clearly not great, it was around mid-table in the Championship with many clubs reporting much larger losses in 2019/20, including Stoke City £88m, #LUFC £62m (large promotion bonus), Reading £42m, #Boro £36m and WBA £23m.

    It is also worth noting that some clubs’ figures have been boosted by the sale of stadiums, especially #DCFC £40m and #SWFC £38m, so their underlying profitability was even worse than reported.

  9. #29

    Re: Cardiff City's Latest Accounts: Trust Chair Gives His Analysis.

    Itís interesting that directorsí remuneration rose 34% at a time when the other salary costs were reducing by a similar percentage.

  10. #30

    Re: Cardiff City's Latest Accounts: Trust Chair Gives His Analysis.

    Quote Originally Posted by The Hooded Claw View Post
    It’s interesting that directors’ remuneration rose 34% at a time when the other salary costs were reducing by a similar percentage.
    yes and the two companies we paid a lot of money to that dalman has interests in - what's that about?

    we seem to have done some decent work in trimming the wage bill already, with more to follow.
    all things considered we seem fairly middle of the road championship club.

    however, considering that next season will be the first since 2013/14 that we won't be recieving any additional money from the premier League we should probably be in a more enviable position.
    that's 8 seasons of an unfair advantage over other clubs with which to build up the club, and we've basically wasted it all.

    the club are now starting to make the right sounds about bringing through youth and identifying players who could be sold at a profit, but it's going to be a lot more difficult without the premier League money. better late than never I suppose.
    the main problem for me remains that we seem to have been far too reliant on the manager for transfer policy etc

  11. #31

    Re: Cardiff City's Latest Accounts: Trust Chair Gives His Analysis.

    Quote Originally Posted by Rjk View Post
    yes and the two companies we paid a lot of money to that dalman has interests in - what's that about?
    Didn't he hold a meeting with fans last year when he said we need to tighten our belts?

  12. #32

    Re: Cardiff City's Latest Accounts: Trust Chair Gives His Analysis.

    Quote Originally Posted by Bluebirdman Of Alcathays View Post
    Didn't he hold a meeting with fans last year when he said we need to tighten our belts?
    Well in fairness we do need to, to the tune of £30 million +
    difficult to speculate too much on the payments without knowing what they're for

  13. #33

    Re: Cardiff City's Latest Accounts: Trust Chair Gives His Analysis.

    Quote Originally Posted by jon1959 View Post
    Always interesting commentary. The context comments are most useful to me:

    Although #CardiffCity £12m loss is clearly not great, it was around mid-table in the Championship with many clubs reporting much larger losses in 2019/20, including Stoke City £88m, #LUFC £62m (large promotion bonus), Reading £42m, #Boro £36m and WBA £23m.

    It is also worth noting that some clubsí figures have been boosted by the sale of stadiums, especially #DCFC £40m and #SWFC £38m, so their underlying profitability was even worse than reported.
    Swiss Ramble always does a very good analysis and comparison with other clubs in the Championship for the season being reviewed.

    As you say the profits for Derby and Sheffield Wednesday are artificially boosted by a (dubious?) sale of their stadia.

    Of the remaining few clubs that reported a profit , Swansea benefitted from the fact that their accounts year end is July. Therefore they had the complete season`s income in their turnover figure while as we lost about £11m from our financial year end finishing before the season finished - which will benefit us in financial year 2020/21 though.
    I haven`t looked at what year end the other clubs reporting slightly better figures than us have but it may be that some of them benefit in the same way as Swansea.

  14. #34

    Re: Cardiff City's Latest Accounts: Trust Chair Gives His Analysis.

    Quote Originally Posted by Rjk View Post
    Well in fairness we do need to, to the tune of £30 million +
    difficult to speculate too much on the payments without knowing what they're for
    Fair point, the payments might have been due, same with the pay rise for the directors - it just doesn't look good amidst everything else.

  15. #35

    Re: Cardiff City's Latest Accounts: Trust Chair Gives His Analysis.

    Quote Originally Posted by Bluebirdman Of Alcathays View Post
    Fair point, the payments might have been due, same with the pay rise for the directors - it just doesn't look good amidst everything else.
    Why doesn't it look good ? What the directors get in remuneration or what the owner does with his money is absolutely nothing to do with us. Its all in the accounts anyway and not being hidden, so why is the automatic response always that something fishy is going on.

  16. #36

    Re: Cardiff City's Latest Accounts: Trust Chair Gives His Analysis.

    Quote Originally Posted by dml1954 View Post
    Why doesn't it look good ? What the directors get in remuneration or what the owner does with his money is absolutely nothing to do with us. Its all in the accounts anyway and not being hidden, so why is the automatic response always that something fishy is going on.
    No one is saying itís fishy. It just seems odd (inappropriate, perhaps) that the directors have been given a pay rise at a time when other staff are having their pay reduced.

  17. #37

    Re: Cardiff City's Latest Accounts: Trust Chair Gives His Analysis.

    Quote Originally Posted by dml1954 View Post
    Why doesn't it look good ? What the directors get in remuneration or what the owner does with his money is absolutely nothing to do with us. Its all in the accounts anyway and not being hidden, so why is the automatic response always that something fishy is going on.
    I didn't say anything fishy was going on. The message from the club is that, understandably, costs have to be cut (not just from here on in; this was mentioned in a meeting early last year) but then the directors' are given more than usual. As has been said, this might be for monies owed/earned but we don't know.

  18. #38

    Re: Cardiff City's Latest Accounts: Trust Chair Gives His Analysis.

    Quote Originally Posted by dml1954 View Post
    Why doesn't it look good ? What the directors get in remuneration or what the owner does with his money is absolutely nothing to do with us. Its all in the accounts anyway and not being hidden, so why is the automatic response always that something fishy is going on.
    I totally agree. If owned the club, and subsidised it like Mr Tan, I could do what i wanted. And I could pay directors whatever I liked, and employees too. The players are employees too and there has been little criticism of what we paid in fees and wages for the like of Madine etc. All the players are paid well, maybe with the exception of the youngsters and are the highest drain on finances.

    The difference between us and other clubs is that, I believe, Vincent Tan is an honourable man who will not leave the club in the lurch. It's in his interest to keep the club stable so that when he does sell up he gets a lot of his money back. Some clubs have owners who do not put any money in (Swansea?), and have worked their way around FFP rules by selling their grounds to the owner (Derby & Sheff W), which seems a dangerous approach.

    Compare our club's owner with another type of owner, let's call him Mr H, who gave the impression of investment , but it was really all loans from himself, which were then sold to another company (if this is right?), who he stated were not him. And then took the club to court, the club he says he loved, and then settled on a deal for the debt. And it was found out to be him all along, and then sues the club (he loves) again for millions. Yet he has not been seen near the club (which he purports to love ) for about a decade or more!!!

    Owner one keeps getting vilified whilst owner 2 (on another board) is hero worshipped.

    I know which one I'd want at our club.

  19. #39

    Re: Cardiff City's Latest Accounts: Trust Chair Gives His Analysis.

    Quote Originally Posted by cardiff55 View Post
    The players are employees too and there has been little criticism of what we paid in fees and wages for the likes of Madine etc.


    Are you taking the piss?

  20. #40

    Re: Cardiff City's Latest Accounts: Trust Chair Gives His Analysis.

    Quote Originally Posted by stan butler View Post
    I get some people don't like Tan but some just keep on slating him for the things he's done and everything the club does.
    These fans never stood up to a certain previous owner and never spoke out about him whilst he ran the club like a circus.
    I will always speak up against these hypocrites when they bash the club at every opportunity.
    I agree with that, TBH.

    I'm still annoyed at the Red saga (I refused to go to any matches) but no where near as I was a few seasons ago. How/why the bloke has stuck with the club is beyond me.

    Someone on here said last week that Tan wants to make a success of the club out of Asian pride/saving face. That may well be the case but the fact remains that he has stuck with the club and I've got a fair better opinion of him.

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