'Highest ever profit by English Club' - Guardian on us

[Greaves357_bestever]

Useful info from the Guardian regarding all Prem clubs accounts from last season

http://www.theguardian.com/football/2015/apr/29/premier-league-finances-club-by-club

They take a dig at us though, quelle surprise!

'The first is the £80m profit, the largest ever made by an English football club; Spurs say this was effectively the proceeds of selling Gareth Bale to Real Madrid which was then reinvested in new players. Spurs’ TV income was up £32m, they held the wage increase to only £4m, and put £35m in the bank. Such riches rather undermine Spurs’ plea they could not afford£16m agreed for public infrastructure works, which Haringey council waived.'

Re the £16m, they've already acknowledged the Bale money being key to the profit figure, and conveniently ignore the money the club has put into the local community, just so they can have a pop at us.

I doubt we'll show much of a profit at all for the accounts 2014/15 as the amortisation for the players we bought out of the 'Bale money', continues to kick in.

 

[Mockers]

Well that's the news all us fans have been waiting for. Can't express how proud i am to support the most profitable team in the league....suck on that Goons. You have take ur FA cup final and shove it up ur Woolwich! #winning



P.s. The above paragraph is a work of fiction and in no way represents my true opinion or excitement levels regarding our profitability

 

[mouse]

So. We won the profit margin trophy after all then. Is there room in our trophy cabinet to put it.? Maybe we can have an open top bus parade or something

DVD of Daniel squinting at Excel.

 

[John Thomas]

Are you this boring in all aspects of your life, or is it just an internet thing?

Just an Internet thing

 

[ArcspacE]

Only thing that I would take issue with here is the fact that our various in-comings only "magically" became players that the managers didn't want or need long after they failed to make the grade. When the transfers went through they were seen as Levy finally backing the manager.

Bullshit - everyone with a triple-digit IQ could deduct Stambouli was a 3-rd option discount Schnederlin. Same for Coentrao / Davies

 

[Mick Cooper]

So why is 'amortisation' bollocks?

It's a perfectly respectable accounting term, when used in the context I used it.

strictly speaking its for intangibles, rather than fixed assets
but it represents a depreciation over time - which means that you are saying that the Bale money players are all overpriced

which I doubt too many would disagree with - with the exception of Dier and Eriksson I think all of them have proved to have been overpriced. Chadli possibly still holding value for his goals.

 

[Flannerz]

I use youporn when I want some relief!

 

[Nick "Trevor" Sharp]

Actually thinking about it depreciation goes in as a cost doesn't it, so it would reduce your profits.

I would expect an accountant to view a player purchase as a cost over the term of contract, so:

- Purchase player for £50m on a 5 year contract
- Amortise at £10m per year, listed as a business expense on the P&L
- Sell after 3 years for £25m

You'd count that as a £5m profit on the sale (as the player is "worth" £50m less £30m amortised over the three years = £20m).

 

[Carlito Brigante]

I have been banging this drum on here for years only to be met by

"Oh yeah, let's do a Leeds shall we?"

Just shows how we have underspent solidly for years.

We will never succeed with Levy strengthening the balance sheet for the end game

 

[Anthony Beale]

I have been banging this drum on here for years only to be met by

"Oh yeah, let's do a Leeds shall we?"

Just shows how we have underspent solidly for years.

We will never succeed with Levy strengthening the balance sheet for the end game

But we've stayed competitive for years, while teams like newcastle aston villa and everton have gone up and down. Newcastle went from champions league to championship in something like 8 years. The amount of money it would cost us to move up a level, is way more than we currently have. United spent 60million on di maria and pay 300'000 a week to falcao just to get them back in the champions league, and even still only just.

 

[shawry1882]

Evening. I am an accountant. Not a bookkeeper or 'somebody who works in accounts' but an actual real-life accountant. I've been drinking too.....but the accountant part is solid.

On the one hand yes, amortisation is a perfectly acceptable term used in the profession.

Amortisation by definition (in this example) refers to intangible assets, and this is why it's bollocks. Because it's intangible. Therefore arbitrary. Yes there might be particular conventions or accepted practice but ostensibly we're calculating (and charging to our I&E) a monetary value - which lest we forget is in part used to determine profit for example - based upon something arbitrary. And therefore bollocks. Or to use a more sophisticated term, made-up.

Or maybe it all is....who am I to say?

Bollocks, you need to keep drinking until you come to your senses.
It is very practical to allocate a player purchase over the contract agreement (the life of value until otherwise sold or extended).

 

[Greaves357_bestever]

Bollocks, you need to keep drinking until you come to your senses.
It is very practical to allocate a player purchase over the contract agreement (the life of value until otherwise sold or extended).

Well said Shawry. And thanks for your very knowledgeable contributions to this debate, which have helped a layman like myself understand a bit more about the arcane wonders of accountancy

 

[Nick "Trevor" Sharp]

I think what Randomitable was saying was not that amortisation on accounts is bollocks but that it's not cash flow, just accounting principles. So saying we have lots of costs coming up is rather misleading. As is pointing to £80mrofit and saying therefore we have £80m to spend.

Assessing accounts is much more than just looking at net worth and net profit, this is a good example of exactly that! You have to look at several years worth of movements, not take one financial year in isolation.

 

[Anthony Beale]

Why , why ,why , young Anthony sets our standards at the level of the fallen . To honour ,
and love mediocrity is to live the life of the downtrodden . To walk with the foolish and
the weak is the sign of the oppressed .

" We will never succeed with Levy strengthening the balance sheet for the end game "
Enlightened Carlos B.

The truth hurts the blind .

Or, I'm just not blind to the fact chelsea and city needed billionaires to buy their clubs in order to win the fucking league. The only way we're going to win the league is by getting bought by billionaires. Either that, or by the other teams above us getting shitter whilst we stay at the same level.
Im not setting standards of anything. What is it you don't understand about the premier league at the minute. Chelsea and City spens a billion pounds. £1'000'000'000'000. Thats more money than all of us on this forum will ever have in our lifetimes, combined. A fucking billion pound. Look past the fucking narrative and your naive wide eyed view of football, and let it sink in that the days of anyone having a chance at winning the league have gone. The definition of success in modern football has been re-written. To the point where even turning a small profit is a minor miracle.
We clearly don't have an extra £50million a season to spend. And its not like money isn't being spent. This is real life not fifa. you fucking speng.

 

[Audere]

Nah.. your wrong there mate. Tottenham Hotspur is not the same as 100 other clubs. And our expectations should be higher. We are fucking Spurs mate. We're a class apart. We should always be aiming for the stars. Better to fail aiming high, than succeed aiming low. As I said, We're fucking Spurs, and we should never be happy to accept being also rans

Unfortunately it all went wrong for us the season when the scum bought Dennis Bergkamp, a Tottenham fan, and we bought Chris Armstrong. The penny pinching started then and we have trailed in their wake ever since. they built a stadium off the back of it and we got ENIC.

It used to be the case that we plundered the best the WC offered but from that WC on we just fed from the scraps. Of course we have had brilliant players sign for us, but sadly and exclusively anyone that reached that pinnacle were sold. And quickly at a massive profit. We are now a feeder club.

The cleverer clubs realised the riches the CL would bring and gambled on it. There were casualties such as Leeds and lucky fuckers like Chelsea but only us with our great name in Europe and past history decided the best policy was to 'not get involved' if you look at the top 14 clubs in the elite European football teams' Deloitte money list it's only us that have never had a proper run of seasons in the CL.

That says a lot to me about the owners strategy and ambition.

 

[Mick Cooper]

Literally couldn't care less. I act the same here i as i do in real life. If i see people talking bollocks in real life, i call them out. As i do here. If i see somebody acting a cunt in real life, i call them out.
The only difference is, people are far braver with the anonymity of the internet. When i say to someone they're being a dick in real life, they tend to realise, and stop. But for some reason as soon as people are sat at a computer they seem to get the impression they're never wrong.

And thats not to say I'm not wrong, or that I'm maybe not going about it in the best way. But why should i change who i am because some strangers on the internet can't handle a few naught words coming their way? If i can be big enough and man enough to take it on the chin, why can't a bunch of much older and therefore surely more mature, wise and intelligent people do the same?

Because we are intelligent enough to realise that being an offensive oaf is generally disliked by everyone - except the offensive oaf.
Anyone can be blunt and rude, and its not an endearing way to behave. It simply shows how ignorant you are of peoples feelings, your stupidity and the depth of arrogance that you display in believing that your opinions are the only ones that are worth having or worth airing.

Criticising people for blocking other posters simply highlights your problem, you thrive on being rude, ignorant and offensive. Some of us prefer a quieter life and just to talk to the people we can have an adult dialogue with. If people can't do that - put them on ignore and talk to the people you want to discuss things with - its what everyone does in real life. I don't mix with people I don't like or have no regard for the opinions of.

I just have this vision of you sat at home on your own every night, as you seem to have little or no regard for anyone's opinions or their feelings.

The fact of the matter is fairly simple - life is much more pleasant if you talk to people in a good natured and reasonable manner. Not all disagreements have to be settled with a slanging match or a fist fight.

As someone once pointed out to me - you don't HAVE to respond to every post you disagree with. On a similar tack, you don't have to insult someone personally to confront their opinions or view of things.

You have proved in this thread you are quite capable of it.

 

[Wikipedia Brown]

great

 

[ArcspacE]

WE CAN'T AFFORD ANY NEW SIGNINGS ABOVE 5 MILLION - THEY SAID SO

Enter the Prtitchard

 

[Greaves357_bestever]

There's a lot of lazy journalism in that article. Woolwich get a complete breakdown of income but a couple of clubs later everything is conveniently bundled 'commercial activities'. Tends to suggest either they don't know all facts and so are guessing or are reluctant to disclose the exact nature of commercial capital, Etihad 'sponsorship' for instance.
:chadliwtf:

Yep Dixie, lots of stuff not to like in the article. It acknowledges West Ham's 'stroke of fortune', but could have chosen far stronger words to describe the hundreds of millions of pounds effectively gifted to West Ham. Instead they prefer to go after us for £16m we didn't have to pay, it's not as if Haringey actually gave us £16m

But it is a useful article as well, as it neatly shows all the 'headline accounting figures' for that Prem year, though weak on some of the details.

 

[ArtyB]

So. We won the profit margin trophy after all then. Is there room in our trophy cabinet to put it.? Maybe we can have an open top bus parade or something

But that would mean actually having to spend money...