Kinkys Left Foot
Well-Known Member
I want to know what those fucking Gooner idiots have got to say particularly that one prize plumb who loves to go on about our accounts!
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
15/16 financial results - £20.5m profit announced
- Thread starter Silvercloud
- Start date
Prestwich_Blue
Well-Known Member
I'm out of the country at the moment with only patchy internet access so only seen the headline figures and the bottom line is well below what I was expecting.
This seems to be because of (a) higher player amortisation and (b) neutral player trading profit whereas I'd anticipated £72m for the former and £30m profit for the latter, giving a basic profit of £36m with an overall profit of £66m. This was based on some deals where we'd loaned players out with an
The figures released suggest that maybe we've got players still on the books that we thought had been sold for a profit.
Another disappointment is the match day revenue,which I thought would be closer to £60m. This was based on last year's revenue of £43m based on a reduced capacity of 44k. So that was the equivalent of £1,000 per seat over the season.
I extrapolated that using this season's 54k capacity to give around £55m with additional premium seating. Then I added the revenue from a league cup semi & final, plus a CL quarter & semi final, to get £60m. The lower figure suggests that the revenue from hospitality seating isn't that great.
I'll maybe be able to say more when I get to read the report in detail but that might not be until I get back from the USA at weekend.
This seems to be because of (a) higher player amortisation and (b) neutral player trading profit whereas I'd anticipated £72m for the former and £30m profit for the latter, giving a basic profit of £36m with an overall profit of £66m. This was based on some deals where we'd loaned players out with an
The figures released suggest that maybe we've got players still on the books that we thought had been sold for a profit.
Another disappointment is the match day revenue,which I thought would be closer to £60m. This was based on last year's revenue of £43m based on a reduced capacity of 44k. So that was the equivalent of £1,000 per seat over the season.
I extrapolated that using this season's 54k capacity to give around £55m with additional premium seating. Then I added the revenue from a league cup semi & final, plus a CL quarter & semi final, to get £60m. The lower figure suggests that the revenue from hospitality seating isn't that great.
I'll maybe be able to say more when I get to read the report in detail but that might not be until I get back from the USA at weekend.
Prestwich_Blue
Well-Known Member
It's not complicated particularly. CFG is owned 87% by ADUG and 13% by the Chinese. It owns 100% of Manchester City and at least some part of the other clubs. CFG also owns 2 other companies, City Football Services (CFS) & City Football Marketing (CFM). We transferred some staff previously paid by City to these companies and they now provide their services to all the CFG clubs. So we provide scouting services and arrange global marketing deals with companies like Nissan.Well he may mean the switching of large amounts of wages to CFG last year (or before, can't remember). Which sort of brought down our wages ratio. But there were no eyebrows raised at the time so it's all sound and above board.
I really would welcome some explanation of the financial structure regarding CFG, the club and the other clubs. Basically we have no idea.
In doing that, the wages came off City's books and onto those of the new companies, meaning our wage bill was reduced. But the two companies charged their services back to the football clubs, meaning our wages went down but operating expenses went up, as the bill for those services became a non wage expense for City. All the people crying foul, and that we were fiddling the books, didn't understand that. The net effect was negligible overall, with maybe a £2-3m benefit to us overall in the first year.
The eventual intention that CFS and CFM make a profit by charging back more than they cost.
UEFA have their views and we have ours, in the end football will show who was right...Cannot remember our chairman's exact quote but it was something along those lines.
There are pro's and con's within these accounts as a business, I own an accountancy but do not have any Clients anywhere near this size to be able to analysis the accounts fully. However as others do I will give my go.
Commercial revenue has not increased which is strange as I would imagine most clubs have seen increased commercial revenue. However, we are so well run I do think we are playing a waiting game with the big commercial deals and will look to do a deal when our hand is the strongest, back to back PL's or CL. The analysis who said City just need to win a CL and we will be laughing all the way to the bank, is correct.
Matchday revenue, interesting what PB says with it being slightly under what he suggested and is probably due to the large quantity of extra seats been taken by season tickets under £500. It is an improvement and one we will hope to see go up in terms of numbers as opposed to price increases. It is a tough one with cheap season tickets as although the theory of a full stadium helps bring in other money, a £300 season ticket is value if you only go to 10 games so missing games you do not feel under pressure that you need to sell the ticket etc.
Broadcasting revenue, always the optimist until No bias at all Gill gets his way and all English UEFA money goes straight to United I do expect this to go up. However, next season maybe less due to lower league position this season meaning less CL money.
United/ RM/ Barca are still a long way ahead of us in terms of turnover, but in United's case they are so far behind in so many other ways it is not important. It will be a very hard task to get close to them within the next 5 years, but the gap for me will close within that time.
Most football fans look at the accounts as an indication of what we can do in the transfer market and these say we are in great shape. I truly believe we are in position to buy any player who wants to come to us and we can buy at an accepted market value. I also on a sporting point of view think next season will need a lot of changes but if done right, we will be in a position where we only need to buy 1-2 a year and get real quality (this is where Bayern, Barca and RM are in my view).
I also think after everything the owner has done for this club, the crowning glory for them would be the CL and not the PL as it is for most of us. It would also propel the club forward and help us to catch up the teams still ahead. So I do think all Man City fans should get behind the club and leave the battle with UEFA to the club, so far without shouting they have been very adept.
Overall, every reason to be 100% positive of how we are placed for sporting success.
There are pro's and con's within these accounts as a business, I own an accountancy but do not have any Clients anywhere near this size to be able to analysis the accounts fully. However as others do I will give my go.
Commercial revenue has not increased which is strange as I would imagine most clubs have seen increased commercial revenue. However, we are so well run I do think we are playing a waiting game with the big commercial deals and will look to do a deal when our hand is the strongest, back to back PL's or CL. The analysis who said City just need to win a CL and we will be laughing all the way to the bank, is correct.
Matchday revenue, interesting what PB says with it being slightly under what he suggested and is probably due to the large quantity of extra seats been taken by season tickets under £500. It is an improvement and one we will hope to see go up in terms of numbers as opposed to price increases. It is a tough one with cheap season tickets as although the theory of a full stadium helps bring in other money, a £300 season ticket is value if you only go to 10 games so missing games you do not feel under pressure that you need to sell the ticket etc.
Broadcasting revenue, always the optimist until No bias at all Gill gets his way and all English UEFA money goes straight to United I do expect this to go up. However, next season maybe less due to lower league position this season meaning less CL money.
United/ RM/ Barca are still a long way ahead of us in terms of turnover, but in United's case they are so far behind in so many other ways it is not important. It will be a very hard task to get close to them within the next 5 years, but the gap for me will close within that time.
Most football fans look at the accounts as an indication of what we can do in the transfer market and these say we are in great shape. I truly believe we are in position to buy any player who wants to come to us and we can buy at an accepted market value. I also on a sporting point of view think next season will need a lot of changes but if done right, we will be in a position where we only need to buy 1-2 a year and get real quality (this is where Bayern, Barca and RM are in my view).
I also think after everything the owner has done for this club, the crowning glory for them would be the CL and not the PL as it is for most of us. It would also propel the club forward and help us to catch up the teams still ahead. So I do think all Man City fans should get behind the club and leave the battle with UEFA to the club, so far without shouting they have been very adept.
Overall, every reason to be 100% positive of how we are placed for sporting success.
SWP's back
Well-Known Member
- Joined
- 29 Jun 2009
- Messages
- 88,263
The ROI is huge if you take into account the capital growth as opposed to simply incomeI do not know if the owners are happy with it or not, but the overall return on investment (ROI) seems low, however the improvement would be most satisfying.
Centurions
Well-Known Member
Can you not just delete the poster and leave the post?Posts like this do mine and everyone else's head in it seems.
Attention seeking wummery.
Either expand and explain why "creative accountancy" has occurred or the post will be deleted.
Manc in London
Well-Known Member
- Joined
- 6 Aug 2008
- Messages
- 8,177
An interesting aside that I hadnt realised is the chairman of Etihad Airways is on our board of directors since 2010.
It's not a one-off. Bayern Munich have sponsors on the board too.
I'd have thought matchday revenue might have been higher, particularly as for that season a fair number of seats were sold twice through the ticket exchange scheme being brought in-house and those selling the tickets only being recompensed this season with a reduction in the cost of their seasoncard. But overall it looks more than satisfactory.
SWP's back
Well-Known Member
- Joined
- 29 Jun 2009
- Messages
- 88,263
Munich's sponsors own the club don't they? Or at least in part.It's not a one-off. Bayern Munich have sponsors on the board too.
Robanompivenov
Well-Known Member
The ROI is huge if you take into account the capital growth as opposed to simply income
Indeed. Just comparing the clubs market value now to 8 years ago should make them happy.
The fact we're profitable is the cherry on the cake.
To be in the top 4/5 in the world in terms of revenue is an astonishing achievement within such a short period of time.