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Think they will now have to sell some high earning players to reduce their losses otherwise over the next couple of years they could get into exceeding maximum losses allowed under FFP.

And I cant see their revenue figures improving in the next year or so (other than through PL TV rights money increasing, so Woolwich share will too) - sponsorship revenues will start to slide etc.
 

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Think they will now have to sell some high earning players to reduce their losses otherwise over the next couple of years they could get into exceeding maximum losses allowed under FFP.

And I cant see their revenue figures improving in the next year or so (other than through PL TV rights money increasing, so Woolwich share will too) - sponsorship revenues will start to slide etc.

I'm not sure exactly how it works but they do have vast sums of cash in the bank. No idea I found that helps their FFP situation or if it makes it redundant as it's all organically earned money theynjave safeguarded. The Profit & Loss on their Balance Sheet shows £450m but I honestly ain't got a clue how it all works:

 
I'm not sure exactly how it works but they do have vast sums of cash in the bank. No idea I found that helps their FFP situation or if it makes it redundant as it's all organically earned money theynjave safeguarded. The Profit & Loss on their Balance Sheet shows £450m but I honestly ain't got a clue how it all works:


Woolwich have a fairly complex corporate structure with Woolwich Holdings being the top company (and the accounts to read), with the football club (whose accounts you posted) being one of about 20 companies in the group. Not sure what all the companies do, but some of them are there because of the dent structure and 'allocate' revenues into certain companies as part of the way the banks get repaid their debt, whilst other companies probably exist to sell off or administer property they still hold largely in the 'old' stadium Highbury.

Although they hold a lot of cash quite a lot is held in 'debt service accounts' - these are accounts set up which must contain at any time cash to pay the next x months of capital repayments and interest, so although its cash Woolwich cant spend it ! On Woolwich trust site they estimate it might be £50m. Add on a 'float' fund which pays bills until the next season ticket money is received (by a specified Woolwich subsidiary which allocates cash to banks first) which might need to be another £50m......and suddenly Woolwich needs to sit on £100m in total which it cant spend !

I suspect Swiss Ramble (a Woolwich supporter) will do an analysis of their accounts next week, so I'll wait until then before making my own guesses !.
 
That last ditched miss sitter (banker of a goal) has set Islington back a decade at the very least.


FACT! :allitongue:
 
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That can't be real... they're not real fans, surely?

There was LITERALLY no emotion shown for BOTH goals... do they care either way??

It's like they were watching an episode of Antiques Roadshow (and even THEN I'd show more emotion than that...)

They DESERVE the club they've got!!!
 
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