15/16 financial results - £20.5m profit announced

john@staustell said:
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.
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What ever it is its all legal or the media and Uefa be all over it. Oh we dont hide unlike the scum with there Cayman Islands accounting.
 
This is just the starting point of phase two.

World leading facilities which continue to grow.
An outstanding talent base to be a foundation for the next decade. We'll only supplement it with the absolute best now, meaning we can be savvy with transfer cash.
Guardiola and all the prestige that name brings.

We're so far ahead of the game the competition haven't even started playing.
 
When Khaldoon said we'll take the pinch to them fuckers that moved the goalposts he knew exactly what was coming, this is just the start.
 
john@staustell said:
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.
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My guess would be our accounts are available for anybody with the inclination to go through with a fine tooth comb.
The average fan has no idea because they're a very complicated and no doubt intricate set of figures. If there were any reasons to dispute I'd imagine the hundreds of journalists and others who dislike where we are at this time would already be on it.
It's bad enough reading the comments from other simpleton supporters who can't stand to see the progress we're making on and off the pitch without reading it from our own fanbase.
 
My comments on the accounts would be as follows:

The year end is 30th May 16 so you have the summer transfer window of 2015 and the 15/16 Pellergrini season with CL Semi Final run / LC win. This pre dates any big boost in PL income and I don’t know when the CL income would be accounted i.e. did we get paid all the seasons money before the end of May?

Player trading is neutral! I guess that is good although I suspect loss on sales is being converted to higher amortisation – Amort of players is up from £73m to £94m. Wages up from £194m to £198m. These 3 figures (over time) represent the true cost of the squad and it is fairly stable at £264m for the year. (note player acquisitions were at £175m gross and sales were at £62m gross). Note £123m of transfer add ons are not included in the above figures.

Gross revenue is up for Matchdays c25% and Uefa TV c50%, commercial only 2%. UK TV down c1%. Total revenue is up to £391m where Matchday income is now 13.4% of our income. I guess the commercial figure is disappointing. With the big change in UK TV expected in coming years our Matchday income should hopefully fall as a % of total income meaning less rationale for increasing ticket prices.

My only other comments are that the P&L and Balance sheet are very strong. I work in finanace and there really is no sign of jiggery pokery – very little inter group balances and the leases are all accounted for. A clean bill of health from me.
 
jesus whoever picked the photograph on page 20 needs shooting. Talk about a bad choice.

It's the page about City's chinese link and has a picture of Kun squinting his eyes. He's eating something he didnt like, but seriously lads who picked that photo as acceptable for that page.
 
john@staustell said:
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.
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Its all in note 30 - You can look into CFGL if you want but its all pretty above board. There is no smoking gun!

30 – ULTIMATE PARENT COMPANY

As at the 31 May 2016 the Company’s ultimate parent undertaking was Abu Dhabi United Group Investment and Development Ltd, a company registered in Abu Dhabi and wholly owned by His Highness Sheikh Mansour bin Zayed Al Nahyan.

City Football Group Limited is the parent undertaking of the smallest and largest group to consolidate these financial statements. Copies of City Football Group Limited consolidated financial statements can be obtained from Companies House.
 
I 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.
 
Given that not too long ago there was a huge loss to endure as the club tried to get a seat at the "top table". There now and profit making, with the key phrase used in the media (various sources) -
"The club is debt free", it looks really good for the future.
 
An interesting aside that I hadnt realised is the chairman of Etihad Airways is on our board of directors since 2010.
 
Gaudion M said:
Gross revenue is up for Matchdays c25% and Uefa TV c50%, commercial only 2%. UK TV down c1%. Total revenue is up to £391m where Matchday income is now 13.4% of our income. I guess the commercial figure is disappointing. With the big change in UK TV expected in coming years our Matchday income should hopefully fall as a % of total income meaning less rationale for increasing ticket prices.
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I agree with your comments, but it's worth noting that the year-on-year growth in match-day income is affected by the reduced ground capacity in the previous season while the South Stand works were underway. Growth in match-day revenues from 2013/14 to 2015/16 is actually only £5.0 million (11%).

The slowdown in growth in commercial income is a disappointment as you say, but hopefully this will be addressed by (1) a new shirt sponsorship deal and (2) a re-negotiated deal with Etihad at some point.
 
Wages seem to be under control, £198M wage bill, Ushited had in 2015/16 a wage bill of £232M... and look at their squad, fuck me. And people say we overpay for players.
 
Gaudion M said:
Its all in note 30 - You can look into CFGL if you want but its all pretty above board. There is no smoking gun!

30 – ULTIMATE PARENT COMPANY

As at the 31 May 2016 the Company’s ultimate parent undertaking was Abu Dhabi United Group Investment and Development Ltd, a company registered in Abu Dhabi and wholly owned by His Highness Sheikh Mansour bin Zayed Al Nahyan.

City Football Group Limited is the parent undertaking of the smallest and largest group to consolidate these financial statements. Copies of City Football Group Limited consolidated financial statements can be obtained from Companies House.
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Thanks for your posts. Very informative. Is there any more detail in the accounts about the chinese investment. Could we have expected an increase in commercial income off the back of it I wonder? Overall though looks very impressive - its just gets better and better.
 
It won't stop hacks saying "Manchester City, bankrolled by Sheik Mansour's arab oil money...." or the like though even though we are self sustaining.
 
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