Annual Report - 2019/20

[WRicko]

Soriano said that losses would 'normalise' at around £60m for the current financial year and the last, which is the report we've just seen. I didn't quite understand what he meant at first but now realise he was talking about the timing delay in PL & CL revenues. We received some of those after the end of the financial year because of the postponement of games, which were only resumed later in June.

So in the current financial year he's saying we've lost matchday revenue mostly, which is around £60m but had the other revenue flows evened out we'd have only lost £60m last year rather than £126m. Allowing for a £20m loss of matchday revenue that still means a loss of £40m in the last financial year but I suspect a lot of that is down to fighting the CAS case and the subsequent fine, which I think they put in a provision for. The 11% increase in wages is still puzzling though.

So read the statements again seem to be saying small profit this year and reading your statement I am guessing we are basically saying we affectively lost 60 million a season

Should certainly have a lot of deferred money from competitions and player sales in this next set of accounts

As for the wages my guess is player sales where delayed so we carried on paying wages for longer bonuses where increased as we did it on the basis of what could happen and if the season was completed not what actually happened and generally wages go up due to extension new players and inflation etc also even the young players won’t be on small money and we have been buying a lot of players recently and loaning them out to CFG clubs

 

[Bluebeemer]

I wouldn't read too much into the latest accounts as I think that several extraordinary 'items' have been included. Also the unique covid situation has dramatically affected matchday/broadcasting revenue for the 19/20 and 20/21 seasons. Deferred revenue, pre-paid wages.
21/22 might see some stabilisation with a recovery in revenue but there will, no doubt, be ongoing covid costs relating to stadium operating costs with, additionally, possible reduced attendances.

 

[Keeper!]

Are some of our wages ( medical, scouting , coaching, marketing etc) still farmed out to the CFG, or was that stopped by UEFA?

 

[Keeper!]

That really doesn't bear thinking about.
In some ways, CAS was our biggest & best result of this new era, quadruple or no quadruple !

It was probably the second most important victory in our history, Gillingham a slight winner.

Losing that case would have destroyed all our momentum over the last 12 years.

 

[jrb]

Still nothing from Tebas.

Not like him to miss an opportunity to have a pop at City.

 

[handsofstone]

It's not much

But getting to the Semi Finals have just given us an additional £10 mil prize money we didn't have last year, plus a million or two for improving our position in the coefficient table

 

[nmc]

It's not much

But getting to the Semi Finals have just given us an additional £10 mil prize money we didn't have last year, plus a million or two for improving our position in the coefficient table

Don’t worry Agent Gill will be working on more changes to the coefficient table - it’s always one step forward and three back with these corrupt bastards... maybe you’ll get coefficient points for the number of penalties received in all competitions next season... that’ll get the Rags back in Pot 1.

 

[waspish]

Don’t worry Agent Gill will be working on more changes to the coefficient table - it’s always one step forward and three back with these corrupt bastards... maybe you’ll get coefficient points for the number of penalties received in all competitions next season... that’ll get the Rags back in Pot 1.

yep at the moment the bent fuckers are working on a super league that will come in in 2024 all these history clubs are haggling for is more of the % than any other clubs! Uefa should stand firm and tell them to either agree or fcuk of to a your 6 big history Bolokcs Europa league

 

[Prestwich_Blue]

Are some of our wages ( medical, scouting , coaching, marketing etc) still farmed out to the CFG, or was that stopped by UEFA?

The senior figures like Ferran Soriano, Txiki Begiristain, Roel De Vries and Omar Berrada are paid by CFG because, funnily enough, they work for CFG. But I'm pretty sure we (City that is) contribute to those wages via a cross-charge.

We also have those two companies City Football Services and City Football Marketing who employ staff. They definitely cross-charge the various CFG clubs, including us (in fact mainly us). They're also included in our FFP reporting perimeter so the claims that we've "hidden" wages is nonsense on both counts. We also brought most of the CFS staff back to City in 2018.

One of the things Der Spiegel did genuinely expose though was our use of a third-party, non-subsidiary company, called Fordham Image Rights, to pay some or all of the image rights payments to players and I suspect we've also brought that back in-house, which is why I believe wages increased this so much in those last accounts.

 

[Norbiton]

One of the things Der Spiegel did genuinely expose though was our use of a third-party, non-subsidiary company, called Fordham Image Rights, to pay some or all of the image rights payments to players and I suspect we've also brought that back in-house, which is why I believe wages increased this so much in those last accounts.

I did wonder why UEFA focused so much on our sponsorships in their attempts to stitch us up when the image rights issues seemed potentially more embarrassing. I suspect we were only doing what many/most other clubs were doing and could prove it.