Commercial income figures are a mystery. Why would it drop albeit by a small amount?
Obviously match-day income is capped by capacity and number of fixtures, but you'd expect the commercial income to be on an upward trajectory.
I'm guessing that beside the concert issue, where we had fewer concerts in Summer 2018, did we have the income from Amazon in last year's figures?
Also, with it being the last year of the Nike contract, I wonder if we got a much lower payment from them as a 'balancing figure'.
Manchester City Football Club Limited had assigned its 2019/20 Premier League Basic Award funds (due in July 2019) to Barclays Bank PLC, as security over a short term borrowing facility. The funds had been assigned on behalf of its parent company, City Football Group Limited, in order to fund global City Football Group activities, if required. The fixed charge and negative pledge was in place until 4 July 2019, when a medium-term financing agreement with HSBC plc was signed. From 4 July 2019 Manchester City Football Club Limited assigned fixed charges in favour of HSBC plc in relation to its Premier League media revenues and stadium matchday revenues.
Additionally, the Club assigned the following two consecutive payments from PUMA SE or PUMA International, in respect of the guaranteed retainer on a rolling basis. HSBC plc hold a floating charge over all other Manchester City assets. These charges shall remain in place until maturity of the HSBC plc facility in July 2022.
The Directors welcomed the opening of a formal UEFA investigation as an opportunity to bring to an end the speculation resulting from the illegal hacking and out of context publication of Club emails. The Directors are entirely confident of a positive outcome when the matter is considered by an independent judicial body.
The ones about the loan facility are interesting. I've said before that we probably generate about £120m+ free cash per annum which we would normally spend on players. We don't publish a separate cash flow statement for City so can't say for sure but that's my best guess. CFG however had generated a negative £50m from operations, which suggests City are propping up CFG cash wise. If that's the case I'd be a bit worried.£5.33m decrease, of which £1.85m is due to the restatement of the catering contract.
So £3.48m to be split between fewer concerts, no Amazon deal etc.
Probably already posted but my interesting paragraphs:
me too, good spot PB.The ones about the loan facility are interesting. I've said before that we probably generate about £120m+ free cash per annum which we would normally spend on players. We don't publish a separate cash flow statement for City so can't say for sure but that's my best guess. CFG however had generated a negative £50m from operations, which suggests City are propping up CFG cash wise. If that's the case I'd be a bit worried.
Isn’t it easier though for the Sheikh to introduce funds to the CFG via the other clubs that are outside of FFP constraints?The ones about the loan facility are interesting. I've said before that we probably generate about £120m+ free cash per annum which we would normally spend on players. We don't publish a separate cash flow statement for City so can't say for sure but that's my best guess. CFG however had generated a negative £50m from operations, which suggests City are propping up CFG cash wise. If that's the case I'd be a bit worried.
Isn’t it easier though for the Sheikh to introduce funds to the CFG via the other clubs that are outside of FFP constraints?
Obviously, but I’m just pointing out that surely it shouldn’t be classed as a “worry” if City’s cash is propping up the CFG.he doesn't need to when he can use funds generated by one of the other members of the group, can offset the losses too. We're the bank of mum and dad for our little brothers across the world.
It would be reassuring to see our cash flow independently of the CFG, to know how much of our income is being used to support the group.Obviously, but I’m just pointing out that surely it shouldn’t be classed as a “worry” if City’s cash is propping up the CFG.