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2014/15 accounts released - £10.7m profit
- Thread starter Ric
- Start date
gordondaviesmoustache
Well-Known Member
It's truly beautiful to see how much they're hurting. Their pain is only set to intensify.The comments section of the mailonline is brimming with bitterness and positively overflowing with bile. I particularly liked the Chelsea fan who without a shred of irony, angrily denounced us as a "JOKE CLUB" and the American who confidently stated that without the "illegitimate and unethical deals and sponsorships" our turnover wouldn't top $80M. Someone kindly pointed out that our turnover before Mansour came along was around the $150M mark.
The problem is, as is frequently the case with stupid people, they've painted themselves into a corner. Their tiny minds are so fixated upon dodgy deals and financial doping that they've been unable to process what to any informed, dispassionate observer would have easily identified around 24 months ago. Today was so inevitable to anyone who was capable of giving the matter any significant thought.
I remember when I lived in Nottingham and people from elsewhere used to frequently ask me if it was true that the ratio of women to men there was three to one. As it happens, there have usually been slightly more women than men in Nottingham for cultural, industrial and more latterly educational reasons, but you're talking about the odd percent here and there. A ratio of three to one is utterly absurd and unrealistic and would reveal itself to be such by anyone with any sense of logic applying their minds to it. It's the same with our financials; people believe what they want to believe without actually thinking about the logic of their assumptions. Without challenging their preconceptions. This has been a constant failing of idiots and fools down the ages.
They want the financial doping to be true, so they believe it is. It's hilarious and tragic in equal measure.
Prestwich_Blue
Well-Known Member
The great thing is we generated just over £100m (net) cash from our operations compared to £27m last year. Of that, £62m went on completing the CFA/the new stand. Presuming that we're not going to be undertaking any further major capital projects in the next couple of years and the cash generated is going to be even higher due to further revenue increases, we should be able to buy big without the Sheikh even needing to put his hand in his pocket.I just love this bit, and think it gets overlooked in the grand scheme of how lucky we are.
What an owner, when "another" £84 mil is just loose change, lmao.
Wilf Wild 1937
Well-Known Member
- Joined
- 28 Jan 2014
- Messages
- 2,612
As things stand today, the Etihad deal suppresses our profitability, not enhances it.
Ain't that the truth? What those morons on RAWK and Red Cafe fail to realise with all these multi-year commercial deals are that:-
1 Sponsorship deals for all PL clubs have risen and will most likely continue to rise rapidly. What appears to be a high figure at the start of a contract appears to be undervalued half way through the deal and peanuts at the end.
2 Sponsors are prepared to pay a premium to be associated with City because they know that they are dealing with serious people with a coherent long term strategy to achieve their long term goals. The risk of wasting their money is minimal.
3 As a serious business we employ top level people to secure these deals. We probably have the best commercial department in the world.
The Etihad deal was the deal of a lifetime ... for Etihad Airways. If the deal ended tomorrow we could easily get double the current rate from a non Abu Dhabi sponsor. The so called "friendly deals" have in fact all worked out in favour of the Abu Dhabi sponsors. They had the competitive advantage initially over their rivals of knowing exactly who Sheikh Mansour was and how serious he was. Now companies like Nissan, SAP, Heineken and Hays Consulting have been more than happy to jump on the bandwagon. If people want to look for dodgy deals I suggest they look no further than Chevrolet or Warrior.
I presume we'd have got more revenue too to offset the bonuses?If PB is right that wages are down because of no bonuses for winning a trophy, does that mean if we'd won something we wouldn't have made a profit?
gordondaviesmoustache
Well-Known Member
In the interests of balance I feel compelled to counter what you've said to suggest that the Etihad deal was very favourable to us at its inception. It was clearly 'front-loaded' based on our standing at the time and gave us a significant cash injection on generous terms.The Etihad deal was the deal of a lifetime ... for Etihad Airways. If the deal ended tomorrow we could easily get double the current rate from a non Abu Dhabi sponsor. The so called "friendly deals" have in fact all worked out in favour of the Abu Dhabi sponsors.
It is equally right, however, to state that Etihad have been enormous beneficiaries from the arrangement. Their standing and exposure as an organisation has increased hugely in the last half-decade; and, further, that the deal now stands due to be revised significantly upwards, due to our contemporary status in the game.
Both City and Etihad have mutually benefitted to an enormous extent from this arrangement. Capitalism at its finest. A real win/win.
You could almost describe it as "doing things the right way" if you were so inclined.
gordondaviesmoustache
Well-Known Member
Can this £10.7 million be properly described as money we've "earned"?
Just askin', like.
Just askin', like.
andyhinch
Well-Known Member
Me being simplistic type, you could have shortened that to, there's some right stupid cunts in the world, it would have done mate :-)It's truly beautiful to see how much they're hurting. Their pain is only set to intensify.
The problem is, as is frequently the case with stupid people, they've painted themselves into a corner. Their tiny minds are so fixated upon dodgy deals and financial doping that they've been unable to process what to any informed, dispassionate observer would have easily identified around 24 months ago. Today was so inevitable to anyone who was capable of giving the matter any significant thought.
I remember when I lived in Nottingham and people from elsewhere used to frequently ask me if it was true that the ratio of women to men there was three to one. As it happens, there have usually been slightly more women than men in Nottingham for cultural, industrial and more latterly educational reasons, but you're talking about the odd percent here and there. A ratio of three to one is utterly absurd and unrealistic and would reveal itself to be such by anyone with any sense of logic applying their minds to it. It's the same with our financials; people believe what they want to believe without actually thinking about the logic of their assumptions. Without challenging their preconceptions. This has been a constant failing of idiots and fools down the ages.
They want the financial doping to be true, so they believe it is. It's hilarious and tragic in equal measure.
Prestwich_Blue
Well-Known Member
Bollocks. We still don't have an Official Noodle Partner. Nor, unlike Everton (Everton FFS) do we have an Official Ginger Beer.3 As a serious business we employ top level people to secure these deals. We probably have the best commercial department in the world.
Seriously, when the morons on RAWK etc shout that a huge part of our commercial revenue comes from Abu Dhabi, what they don't realise is THAT'S THE WHOLE FUCKING POINT! The Abu Dhabi government want the name of Abu Dhabi and its major companies out there. I'd love to know what the Etihad deal has done for their brand awareness, how much of their increase in revenue and the move from loss to profit is due to it. Also, as we know, it's now looking distinctly poor value in light of other deals. Unlike kit deals, which relate fairly directly to the amount of branded kit sold, a shirt and stadium naming deal is more about exposure. And they're certainly getting their money's worth from us.
But even if it wasn't Etihad, it would be someone else and we'd be getting the market rate. So let's say we get £60m a year from Abu Dhabi companies currently, we'd still probably get something like £40m for the shirt, stadium and campus. So we'd drop £20m. Big deal.