Annual report 2012/13 released (merged)

[GoMancini7]

Predicted around 40-60m losses after I read the oncome will be around 270m, so 51m is not bad after all considering we didnt have a very succesful season last season.

Its interesting that these intellectual property are exactly what and without selling them we couldnt improve the incomes?
Last year we had 230m, now 270m.

Wages are higher probably because of the money paid to Mancini/his staff, and the awful transfer window we signed Sinclair, Rodwell Garcia, Maicon. Also new members of board, Soriano/txiki maybe etc.

 

[aguero93:20]

Predicted around 40-60m losses after I read the oncome will be around 270m, so 51m is not bad after all considering we didnt have a very succesful season last season.

Its interesting that these intellectual property are exactly what and without selling them we couldnt improve the incomes?
Last year we had 230m, now 270m.

Wages are higher probably because of the money paid to Mancini/his staff, and the awful transfer window we signed Sinclair, Rodwell Garcia, Maicon. Also new members of board, Soriano/txiki maybe etc.

even including those we've increased revenues by some 20m or so, we had ip sales in the 11/12 accounts as well.
tbf to those figures, if real or the scum released accounts, ever.... :) you'd see quite a lot of ip rights sales as well I think, its not too much different from a sponsorship deal. yeh wages should come down a fair amount in the 13/14 accounts with the restructuring of existing contracts and the jettisoning of tevez maicon etc plus bobby's pay off, wouldn't hazard a guess at a figure though. New sponsorship deals in effect too.

 

[Matty]

yes in theory there will be, wouldn't make sense to sell such a valuable asset for so little, I presume its a lease.
the payment to bobby (and I presume his coaching staff) is a one off payment, would have been easier on this years accounts to write it off over the remaining years of his contract but that doesn't seem to be our normal practice.

Re Bobby's severance payment I would have thought that as the cost was crystallised in the financial year, and there was no remaining benefit to come from the contract, then it makes sense to write it off in the financial year

you're right, if we were doing creative accounting though we could have reduced the effect. mcfc- ruining creative accounting conspiracy theories.

I'm confused, we didn't sack Mancini, and his staff, until after the FA Cup Final, so after 11th May 2013. Wouldn't that payoff be in next years accounts as the accounts released yesterday cover the financial year from May 2012 to April 2013?! Or have I got my dates wrong?

 

[aguero93:20]

Re Bobby's severance payment I would have thought that as the cost was crystallised in the financial year, and there was no remaining benefit to come from the contract, then it makes sense to write it off in the financial year

you're right, if we were doing creative accounting though we could have reduced the effect. mcfc- ruining creative accounting conspiracy theories.

I'm confused, we didn't sack Mancini, and his staff, until after the FA Cup Final, so after 11th May 2013. Wouldn't that payoff be in next years accounts as the accounts released yesterday cover the financial year from May 2012 to April 2013?! Or have I got my dates wrong?

we sacked him on the 13th May (ouch!) as the football season defines our financial year we're well within our rights to include it in last year's accounts and following the 'true and fair view' principle we should include it in last year's accounts as it was an event of last season and therefore the last financial year. we definitely didn't do ourselves any favours by including it in the toughest ffp monitoring period though!
edit, statement of financial position was up till 31st May though, presume the p&l was as well.

 

[Matty]

you're right, if we were doing creative accounting though we could have reduced the effect. mcfc- ruining creative accounting conspiracy theories.

I'm confused, we didn't sack Mancini, and his staff, until after the FA Cup Final, so after 11th May 2013. Wouldn't that payoff be in next years accounts as the accounts released yesterday cover the financial year from May 2012 to April 2013?! Or have I got my dates wrong?

we sacked him on the 13th May (ouch!) as the football season defines our financial year we're well within our rights to include it in last year's accounts and following the 'true and fair view' principle we should include it in last year's accounts as it was an event of last season and therefore the last financial year. we definitely didn't do ourselves any favours by including it in the toughest ffp monitoring period though!
edit, statement of financial position was up till 31st May though, presume the p&l was as well.

Ah right, I wasn't aware we used the season as our measure and not the standard financial year. How does this affect other UEFA clubs then? For example Scandinavian clubs run their season during the European summer, so is their financial year different to ours? How does this affect UEFA's measuring periods?

 

[aguero93:20]

I'm confused, we didn't sack Mancini, and his staff, until after the FA Cup Final, so after 11th May 2013. Wouldn't that payoff be in next years accounts as the accounts released yesterday cover the financial year from May 2012 to April 2013?! Or have I got my dates wrong?

we sacked him on the 13th May (ouch!) as the football season defines our financial year we're well within our rights to include it in last year's accounts and following the 'true and fair view' principle we should include it in last year's accounts as it was an event of last season and therefore the last financial year. we definitely didn't do ourselves any favours by including it in the toughest ffp monitoring period though!
edit, statement of financial position was up till 31st May though, presume the p&l was as well.

Ah right, I wasn't aware we used the season as our measure and not the standard financial year. How does this affect other UEFA clubs then? For example Scandinavian clubs run their season during the European summer, so is their financial year different to ours? How does this affect UEFA's measuring periods?

Drogheda United's financial year is February to January I think, couldn't tell you about anyone else.
In the interest of fairness UEFA will have to do it by domestic season, they're not going to get a true view of the figures by cherrypicking(or gerrymandering, lol) half of one season and half of the next.
Finally got a chance to use my PC instead of my phone to look at these accounts properly now :)

 

[Anonymous]

This is how it feels to be City
This is how it feels to be small
You've got big debts
We owe nothing at all

 

[The Flash]

This is how it feels to be City
This is how it feels to be small
You've got big debts
We owe nothing at all

Excellent.

 

[aguero93:20]

OK just to clear this up, of the £47m in IP rights sales only 22.4m was to related parties
we also have 42.28m in external charges in our operating loss, maybe that relates too the acquisition of MHFC and/or NYCFC?

 

[Damocles]

@DuckerTheTimes now
Re #MCFC accounts, the wage bill figure of £233.1m was swollen by a huge undisclosed pay off to Roberto Mancini

DuckerTheTimes 8m
Also on #MCFC accounts, revenues were boosted by the one-off sale of two assets for almost £50m

@DuckerTheTimes 6m
The first was the £24.5m sale of the club's naming rights to an external company, thought to be UK based #mcfc

@DuckerTheTimes 5m
The second was the £22.45m sale of other "intellectual property" to New York City & Melbourne Heart franchises & #mcfc ladies

@DuckerTheTimes 4m
Essentially, NYC FC and Melbourne Heart etc are paying for services such as access to #mcfc scouting network and commercial database

This isn't possible. You can't make a purchase in January 2014 and then put it in accounts for year ending May 2013 because you feel like it.

 

[aguero93:20]

@DuckerTheTimes now
Re #MCFC accounts, the wage bill figure of £233.1m was swollen by a huge undisclosed pay off to Roberto Mancini

DuckerTheTimes 8m
Also on #MCFC accounts, revenues were boosted by the one-off sale of two assets for almost £50m

@DuckerTheTimes 6m
The first was the £24.5m sale of the club's naming rights to an external company, thought to be UK based #mcfc

@DuckerTheTimes 5m
The second was the £22.45m sale of other "intellectual property" to New York City & Melbourne Heart franchises & #mcfc ladies

@DuckerTheTimes 4m
Essentially, NYC FC and Melbourne Heart etc are paying for services such as access to #mcfc scouting network and commercial database

This isn't possible. You can't make a purchase in January 2014 and then put it in accounts for year ending May 2013 because you feel like it.

Yeah I thought that too, maybe it's just NYCFC? what date did we complete that on?<br /><br />-- Thu Jan 30, 2014 11:57 am --<br /><br />

Predicted around 40-60m losses after I read the oncome will be around 270m, so 51m is not bad after all considering we didnt have a very succesful season last season.

Its interesting that these intellectual property are exactly what and without selling them we couldnt improve the incomes?
Last year we had 230m, now 270m.

Wages are higher probably because of the money paid to Mancini/his staff, and the awful transfer window we signed Sinclair, Rodwell Garcia, Maicon. Also new members of board, Soriano/txiki maybe etc.

that IP sales isn't included in the 230m or the 271m

 

[Damocles]

The NYCFC deal was completed in May 2013 so it's pushing it but possible. MCFC Ladies became part of us in August 2012.

 

[aguero93:20]

The NYCFC deal was completed in May 2013 so it's pushing it but possible. MCFC Ladies became part of us in August 2012.

maybe I was giving the journo too much credit, its quite possible the 22m figure is just for insignia rights. do yourself or pb have any idea what the 48m in external charges is? I think its in note 3. thinking if its non-footballing related it might be deductible for ffp.

 

[cibaman]

It would be interesting to know what the underlying loss was, excluding severance payments and other one offs. Just as a baseline figure to work out how much better we need to do to breakeven this season.

I'm guessing it was about £70m?

 

[aguero93:20]

It would be interesting to know what the underlying loss was, excluding severance payments and other one offs. Just as a baseline figure to work out how much better we need to do to breakeven this season.

I'm guessing it was about £70m?

£70m? we lost 50.6m after all the one offs. ballpark for the academy expenditure was 35m, then the payoff, tbh mate I think we're gonna break even this year, I'd put money on it.

 

[halfcenturyup]

Must be the Beijing Casuals changing teams .....

Page 21 is interesting although a little bit puzzling :-

MCFC has more followers than any other
European football club on the two main
micro-blogging sites in China

European football clubs with the most followers
on Sina Weibo and Tencent Weibo

RANK CLUB FOLLOWERS
1 Manchester City 4.4m
2 Real Madrid 2.1m
3 Chelsea 2.1m
4 Barcelona 2m
5 AC Milan 1.1m

Admittedly my knowledge of Chinese micro-blogging sites (or any micro-blogging sites) is zero but how is that possible for us at this point in time? And aren't they all rags anyway?

 

[The Pink Panther]

It would be interesting to know what the underlying loss was, excluding severance payments and other one offs. Just as a baseline figure to work out how much better we need to do to breakeven this season.

I'm guessing it was about £70m?

£70m? we lost 50.6m after all the one offs. ballpark for the academy expenditure was 35m, then the payoff, tbh mate I think we're gonna break even this year, I'd put money on it.

Win the CL and that's another £25m to add to the kitty

 

[Damocles]

The TV revenue is going to go from £80m this year to around £140m next.

So there's that

 

[The Pink Panther]

The TV revenue is going to go from £80m this year to around £140m next.

So there's that

So BT TV money
Win the CL
Sign a few more commercial sponsorships
No manager and staff to pay off

We're gunna be £100m in the black

 

[aguero93:20]

It would be interesting to know what the underlying loss was, excluding severance payments and other one offs. Just as a baseline figure to work out how much better we need to do to breakeven this season.

I'm guessing it was about £70m?

£70m? we lost 50.6m after all the one offs. ballpark for the academy expenditure was 35m, then the payoff, tbh mate I think we're gonna break even this year, I'd put money on it.

Win the CL and that's another £25m to add to the kitty

like the way you're thinking!<br /><br />-- Thu Jan 30, 2014 12:40 pm --<br /><br />

The TV revenue is going to go from £80m this year to around £140m next.

So there's that

So BT TV money
Win the CL
Sign a few more commercial sponsorshipsalready done
No manager and staff to pay offhopefully

We're gunna be £100m in the black