Annual report released - record turnover of £535.2m for 2018/19

[NeilYoungIsBack]

Difference in how it was being calculated. Using last year's parameters, it has increased 2.8%. The following section explains the cause for the change -

The Company has applied IFRS 15 using the cumulative effect method. Therefore the comparative information above has not been restated and continues to be reported under IAS 18 and IAS 11.
Manchester City previously recognised gross revenue and cost of sales for the catering contract with Fabulous Fan Fayre Limited, who provide customers with refreshments on a matchday at the Etihad Stadium, as Manchester City was acting as the principal in this arrangement. Following an assessment under IFRS 15 and a revised contract with Fabulous Fan Fayre Limited the net revenue generated from the contract should be recognised as royalty income as Manchester City is acting as the agent. This conclusion has been reached due to the supplier being primarily responsible for fulfilling the promise to the customer and the inventory risk falling on them before the transfer to the customer. There is no impact on the balance sheet as a result of this adjustment.

Cheers - thanks for the reply and information

 

[BosnianBlue]

That sponsorship is for the City group of clubs so that might have something to do with it.

Yep, I've read somewhere that other clubs in the group get 5 million per year from the deal.

 

[mat]

I don’t think it’s that. I think he’s making the point that we are so far past that period in our evolution and 5 years of profits mean we don’t even need to discuss it any more.

That's sound better.

*Removes tin foil from head*

 

[sky_blue]

That sponsorship is for the City group of clubs so that might have something to do with it.

Doubt it. £65m a season for 6 CFG teams – Manchester City (men and women), Melbourne FC (Australia), Girona (Spain), Atlético Torque (Uruguay), and the recently acquired Sichuan Jiuniu FC (China). New York City are not included because they've to be sponsored by Adidas based on some MLS rules. Out of those 6, the highest sponsorship after City is Girona, between £1-2 mil. If I had to guess, I would say that the rest of the teams get roughly £5 mil and City get £60 mil.

Simon Stone is pulling numbers out of his arse like always, without a single attempt at fact checking.

 

[Man_City_Loyal]

Imagine how good the figures would be if we could actually sell out our games.

we do, its those who choose not to go sit in said seats that are the problem

 

[cookster]

I don’t think it’s that. I think he’s making the point that we are so far past that period in our evolution and 5 years of profits mean we don’t even need to discuss it any more.

I think you're giving Sly Stones too much credit.

 

[oakiecokie]

I agree he's got that wrong, why would we change shirt sponsorship after winning consecutive titles for only £45m, it just doesn't add up.

Is it possible that we took a couple of years "cash up front" ?

 

[balotellishaircut]

Is it possible that we took a couple of years "cash up front" ?

I don't know, we all thought we signed a £650m shirt deal over 10 yrs so that works out at £65m p/a. Like you say we may have taken some cash up front and therefore reduced the per year payments.

 

[tolmie's hairdoo]

Our books are gonna look absolutely crazy if it includes next period £100m plus for Sane and £65m for Puma!

We will be closer to £700m than £600m?

 

[Millwallawayveteran1988]

Can we afford a new CB?