BBC Wales report on 2020 CCFC accounts

[Ninian1962]

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.

[Rjk]

Would the £118 m be the equivalent value to this chart?

E2xqEvaWQAEf0R1.jpg

if so we would be at the upper end of the league

[Ninian1962]

[QUOTE=Rjk;5195809]Would the £118 m be the equivalent value to this chart?

E2xqEvaWQAEf0R1.jpg

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.

[Rjk]

Would the £118 m be the equivalent value to this chart?

E2xqEvaWQAEf0R1.jpg

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