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

[cardiff55]

Very thorough report from Keith. Not as bad as I thought, I suppose the transfer money came from Manga, Zohore and Decordova-Reid, which was about £21.5 m in my estimation.

Thanks Goodness it is a year until he next set of accounts!

[Ninian1962]

Very thorough report from Keith. Not as bad as I thought, I suppose the transfer money came from Manga, Zohore and Decordova-Reid, which was about £21.5 m in my estimation.

Thanks Goodness it is a year until he next set of accounts!

I am always hopeless at remembering which players we sold when but the reported profit on sale of players of £13.7m would have been from the July 2019 and January 2020 transfer windows , so who did we sell then?

The cash from player sales follows a different pattern as these things are often in instalments. So for year 2019/20 we only received £2.3m in cash from player sales (paid out £24.7m in cash in the same period).

Partly because of the £11m adjustment I mention in my commentary , I don`t think 2020/21 results will be as bad in profit and loss terms as might otherwise be expected. However, in cash terms there will undoubtedly have been a need to borrow money to pay month to month wages and other running costs prior to receiving parachute monies. Note 29 in the 2020 accounts support this as it says that £34.8m of funding was received between May 2020 and April 2021.

In terms of being "profitability and sustainability" compliant under EFL rules , we should be OK as for both 2020 and 2021 as the EFL has allowed a Covid adjustment to reported losses as well as the normal £13m average "allowed" loss. This adjustment has to be audited before submission to EFL.

[cardiff55]

I am always hopeless at remembering which players we sold when but the reported profit on sale of players of £13.7m would have been from the July 2019 and January 2020 transfer windows , so who did we sell then?

The cash from player sales follows a different pattern as these things are often in instalments. So for year 2019/20 we only received £2.3m in cash from player sales (paid out £24.7m in cash in the same period).

Partly because of the £11m adjustment I mention in my commentary , I don`t think 2020/21 results will be as bad in profit and loss terms as might otherwise be expected. However, in cash terms there will undoubtedly have been a need to borrow money to pay month to month wages and other running costs prior to receiving parachute monies. Note 29 in the 2020 accounts support this as it says that £34.8m of funding was received between May 2020 and April 2021.

In terms of being "profitability and sustainability" compliant under EFL rules , we should be OK as for both 2020 and 2021 as the EFL has allowed a Covid adjustment to reported losses as well as the normal £13m average "allowed" loss. This adjustment has to be audited before submission to EFL.

Cheers Keith, it was the three players I mentioned, but obviously all the cash may not have been received in one go/ Zohore and Manga went in summer 2019, Devordova-Reid sale was in January 2020. In the same period we brought in Vaulks, Flint, Whyte, Pack, Glaztel and Vassell. So a small overall profit on sales I think.

Last season incoming was Moore, Phillips,. Watters and NG, so not much there in the way of fees. Only outgoing fees were Etheridge and Paterson.

[Ninian1962]

Cheers Keith, it was the three players I mentioned, but obviously all the cash may not have been received in one go/ Zohore and Manga went in summer 2019, Devordova-Reid sale was in January 2020. In the same period we brought in Vaulks, Flint, Whyte, Pack, Glaztel and Vassell. So a small overall profit on sales I think.

Last season incoming was Moore, Phillips,. Watters and NG, so not much there in the way of fees. Only outgoing fees were Etheridge and Paterson.

The cost of the players we sold that year was written down to zero in the accounts. They had originally cost £14.6m but had been fully depreciated/amortised. The figures then reconcile. We made a profit of £13.7m from selling them so the total selling fees came to £13.7m as we had a nil book value for them. In cash terms we got £2.3m of cash for them in the year and were owed £13m in cash from player transfers instalments at the year end (I am assuming the small difference was a balance of money from transfers made in the previous year).

According to the accounts , the total cost of the players you list who were acquired in the year 2019/20 was £18.5m

[cardiff55]

The cost of the players we sold that year was written down to zero in the accounts. They had originally cost £14.6m but had been fully depreciated/amortised. The figures then reconcile. We made a profit of £13.7m from selling them so the total selling fees came to £13.7m as we had a nil book value for them. In cash terms we got £2.3m of cash for them in the year and were owed £13m in cash from player transfers instalments at the year end (I am assuming the small difference was a balance of money from transfers made in the previous year).

According to the accounts , the total cost of the players you list who were acquired in the year 2019/20 was £18.5m

Thanks for clarifying Keith.

Tony