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

Rammy Blue said:
Isn’t it easier though for the Sheikh to introduce funds to the CFG via the other clubs that are outside of FFP constraints?
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We don't know, as we can only see CFG's accounts and City's. Nor do I know if the leagues or other governing bodies covering the other clubs have any rules on introduction of funds. But why would City then take out loans on behalf of the other clubs if ADUG could do that?
 
uwe rosler 28 said:
Can someone explain how the rags post profit of £185m and us just £10m tho both revenues roughly the same with them having a higher wage bill.
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You're presumably talking about what the rags describe as 'earnings', which is revenue plus profit on transfers (or minus losses) less expenses but not including amortisation, depreciation, interest or taxation. Otherwise known as EBITDA. Ours is £143m on the same basis as they use.
 
Prestwich_Blue said:
You're presumably talking about what the rags describe as 'earnings', which is revenue plus profit on transfers (or minus losses) less expenses but not including amortisation, depreciation, interest or taxation. Otherwise known as EBITDA. Ours is £143m on the same basis as they use.
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Thanks pb was hoping u could explain it to me.
 
Prestwich_Blue said:
We don't know, as we can only see CFG's accounts and City's. Nor do I know if the leagues or other governing bodies covering the other clubs have any rules on introduction of funds. But why would City then take out loans on behalf of the other clubs if ADUG could do that?
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My guess would be that we attempt to be self sustaining, obviously being the correct model, however should the need arise then the Sheikh can raid the piggy bank.
 
balotellishaircut said:
£45m a year Puma deal, I thought it was more than that...
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Don't tell FIFA.
 
Rolee said:
Bonuses wouldn't have been that different to the previous year though? We're up almost 20% on the previous year.
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There were many contract extensions/improvements and bonuses in that period.

KDB, Sterling, Stones and Walker and probably others.
 
Another couple of items that might explain the decrease in commercial income could be
a) 12 month reporting period compared to previous seasons 13
b) if I remember rightly, wasn't the Etihad deal front-loaded to help with ffp? So higher payments at start, reducing year on year
Might even show that pro rata we have actually seen an increase in commercial money.....
 
dips66 said:
Another couple of items that might explain the decrease in commercial income could be
a) 12 month reporting period compared to previous seasons 13
b) if I remember rightly, wasn't the Etihad deal front-loaded to help with ffp? So higher payments at start, reducing year on year
Might even show that pro rata we have actually seen an increase in commercial money.....
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The 13 month period was 2 years ago, not last year. It's possible the new Etihad deal was front-loaded but we might not have recorded it that way. It's also possible that the Nike deal was originally front-loaded and with 2018/19 being the final year of that arrangement that we got a lot less to balance out the front-loading when it started.
 
Prestwich_Blue said:
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.
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As a Holding Company can they use losses elsewhere to offset any taxation due?
 
Ardwick Green Blue said:
Does being part of CFG have any sort of positive impact on the club?

Can’t see anything obvious to be honest.
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Me neither.

It was the reason Soriano ended up falling out with the Barça board, I think. He wanted to do the same for Barcelona but the board saw no advantages for them in doing so.

When it was first mooted I thought they’d be clubs I’d take an interest in, but to be honest I do not give a shit about any of them and barely ever give them more than one or two thoughts a year.
 
Excellent analysis of the accounts, as always, from Swiss Ramble (thread):
 
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