Can you explain how you managed to type this post with one hand while simultaneously wanking off over our financial position with the other ?
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No surprise there then, the club was always beefing up its balance sheets in order to finance the new stadium. Just like when the debt figures were released a short while back and people similarly raged against the audacity of us not carrying tens of millions in debt.
Relax people. Very little to see here.
Relax people. Very little to see here.
Majority of Football league clubs working on the theory of Jam today are leading to the poor house, if our stadium gets done I figure our wealth will be depending on who runs the purse strings, so let's accept Levy & co are running a steady ship Coys
Nah i was wanking to some busty milf porn on xnxx.
Couldn't give less of a shit about finances, more to life than money.
Cue meltdown....yes it's a real word. Yes it' is also bollocks.
Wrong
No Mick, I'm not saying that. I'm no accountant but my understanding of player amortisation is that a player's value is written down over a number of years. So, for example IF we paid £30m for Lamela, then a typical write down would be £6m per year over 5 years.
Amortisation is not, in accounting terms, deciding whether they were overpriced or cheap, it's a standard depreciation of what we paid for a player, be he bargain or flop. It is true, it seems, we wrote off some 'extra' of the value of one player last season, but that was an exception NOT the rule.
We will be writing down as amortisation for this financial year, our buys from this season and the previous season, and doubtless the season before that. (Amortisation AFAIK usually lasts 4 or 5 years for a particular player).
Hence my correct (AFAIK) use of the term 'heavy amortisation' costs as we spent a lot on players during the past three-five years, particularly during 'the summer of Bale'.
We'll see when the next figures come out.
I also await Randomitable's reasoning as to why this perfectly respectable accounting term is 'bollocks'.
Good old Capitalism ....
er...... amortisation (the proper british spelling by the way Mensa) come on this forum to escape banking bollocks after a day of MBS's and get this. How dare you.
er...... amortisation (the proper british spelling by the way Mensa) come on this forum to escape banking bollocks after a day of MBS's and get this. How dare you.
sorry mate the fucking spell check on my computer here beat me! I have to change words all the time on my emails back home! I too work at a bank here and use the forum for light relief!!
Bingo you got it!!
The accounting treatment is to credit balance sheet intangible assets, debit amortization expense. Basically as you reduce the intangibles (players) you take the expense as you say over the contract terms as it goes. So although as you say you may have in book terms made 5million, you havent really as has cost you 30 to hold him, plus the bloody wages!
And that is from an actual qualified accountant
I've been off air for a while, but love all the spurs financial reviews.
Well done Nick, now we are getting in the swing of financial things.
It was also intereesting in our latest financials that given the large profit we made on Bale that Levy took the opportunity to put in a further writedown on player intangible assets of £11mill. They did not mention in accs who, but would be guessing Paulinho, Soldado as likely given not hitting expected targets (eg goals, appearances - club & country, no CL qualification).
And yes confirm Greavisie obsersavation that player amortisation will be higher in 2014/15 because of the asset val (magnificent 7) being amortised over the life of their contracts.
Yep Shawry those costs are liable to be with us for a while, plus of course the costs of last summer, and whoever is left of previous relevant seasons, such as Lloris and Eriksen.
Hey Nick,
Yep the sale for Bale was largely matched by the purchases. And while that does not translate to all cash in 2014, you are on the right track with debtors/creditors position, when i looked at the accounts a month or so ago things seemed in balance, so ok with that.
What i did not was though was some loans outstanding at +7%, reckon we need to knock those out, credit should be cheaper.
But the big green apple is the EPL money, Levy would have loved the extra £30 odd mill with only a small bit going to player wages.
It is going to be very interesting seeing how the Levy strategy plays out over the next 5yrs.
1. Extra EPL money will support stadium loan/interest repayments.
2. Poch/Mitchell and co are expected to improve our league position by choosing/coaching quality players on the rise.
3. Player profits (and ultimately cash) to support infrastructure development.
4. League and Cup performances to attract sponsorship and crowds to justify 56k seater stadium.
5. Levy doing the and making a surplus on the housing/commercial redevelopments.
Exciting times indeed.
Well, I'm glad you finally got round to justifying your assertion
But Spurs presumably use actual accountants too, and they presumably aren't drinking at the time they prepare the accounts and use the concept of amortisation. Add in Shawry's views, amongst others, who are knowledgeable on the subject, and I'm quite happy to stick to my view that amortisation is a perfectly acceptable/respectable accounting term.
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 .
Then he should reward himself handsomely with the mother of all bonuses and a salary to match the increase in revenue that his work has resulted in, which would mean completing the stadium and winning big commercial deals on par with other "big" clubs with big stadia. I would have no problem with this.
Levy is paid £40k per week, probably not even top 10 of Spurs' employees, yet that's too much even though he's the head of the club? Where else would you find an MD paid considerably less than their employees? Seems perfectly reasonable to me
Let Greaves change and then he can comment!isnt it Queens englishpleb
