Could be trouble ahead....
https://twitter.com/KieranMaguire/status/1642414349670141952 Could explain the poor transfer period and if it could be a reason GA decided to go..
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https://twitter.com/KieranMaguire/status/1642414349670141952 Could explain the poor transfer period and if it could be a reason GA decided to go..
Comments
There'll be fireworks when the fans find out about this
Fuck me
£8k cash in the bank!
No wonder the Trust had to lend the club money to function.
It seems it was Championship or bust last season and we’ve just carried on the spending into this year.
We really need to take an axe to our wage bill this summer.
£8k in the bank is £1,000,008,000 more than Man United.
Going from having £3.6m in the bank to £8k in one year is..... not exactly impressive work from our Chief Financial Officer.
I think these accounts show very clearly that the Couhigs are in way above their heads and don't really have any option but to sell the club asap (at this rate, probably for £1). I simply don't see where the money will come from to sustain losses like this. There's only so much that can be raised by merchandise, food sales and subscriptions from the Worldwide Wanderers Phenomenon... and I'm not sure a road being magicked up this summer will save them.
My fundamental criticism of the Couhigs has always boiled down to a deep suspicion (led by their lack of transpareny and basic research into their family wealth and past history with other sporting endeavours) that they simply weren't capable of supporting a football League club when the going got tough. Everything else - wild overstatements, beef with Derby (as Keiran Maguire says, no sign of any payments from them....), absurd future plans - is just a distraction. Fundamentally, they're in too deep and fast running out of options.
Yet they’ve also overseen the most successful period in the history of the club on the pitch. If we don’t get promoted this season though….. non-league may well beckon.
They did rather land on their feet by taking over with Gaz at the helm - arguably lulled them into a false sense of security, having the most consistent manager in the EFL already in situ.
Couhig mentioned in one of the meetings that we received £300k from Derby
Not quite sure why I’m being downvoted here haha
Congratulations on attaining a new level of pessimism, 3 points off a potential chance to reach the Championship and you’re concerned that we could be relegated to the National League!
I picture EFL clubs as money burning furnaces. The wage bill is the shovel.
Is it pessimism? Look at our cash flow. If Rob pulls the plug we are f***ed.
Is this really new news? Didn't Rob admit that we lost £3M last year and we're on track for similar losses this year?
Maybe there was some misunderstanding that last year's losses were covered by the money from Championship season but otherwise we already knew this.
I guess on the balance of probability the championship is less likely though. And although you are a welcome and eternal optimist @glasshalffull you must admit those numbers are a) terrifying and b) shows a sense of recklessness / incompetence / naivety
Googling 'What can I buy for £8,000? tells me we can afford over 250,000 teabags.
I've got nothing.
How many fireworks?
Now the clocks have changed I was a tad disappointed that we didn’t have a display yesterday.
For comparison here's the same page from previous years accounts which (if I undertand it correctly) shows a profit of £3M rather than a loss? Which just makes me confused.
Im sure @DevC can explain to me what it all means?
We could buy 80 Toxicados at £100 a shot which should make every pet from The Hellfire Caves to The White Horse drop dead in shock.
https://www.youtube.com/watch?v=5JI9dRI5PiU
If we’re willing to buy in bulk 100,000 bags of wotsits 100k
Plucky Wrexham lost over 3 million too. Rich Americans/Canadians realizing they can't make money from football is almost a rite of passage now.
Maybe if we got reasonably good amounts for our best players instead of being ripped off every time Maybe our financial situation would not be so pessimistic.
To be brutally honest:
The losses are irrelevant PROVIDED the majority shareholder/owner is prepared to cover them either through cash injections by way of loans or buying more shares. In the case of the club I suspect the arrangement with the trust means that additional share cannot be issued as this would dilute the Trusts shareholding, so that leaves loans as the principle route of funding.
Loans are fine PROVIDED they are "soft" loans with no interest or fixed repayment date.
There is NO indication the Couhigs want to pull out (yet) but they do not have bottomless pockets hence Rob indicating he would consider outside investment.
Further a club the size of Wycombe, sitting as close as we do to 7 PL clubs in London & 5 Championship clubs, means we will always struggle to grow our attendance, which limits the level of money we can aspire to generate from paying supporters. With current ST holders numbers & average attendances we gross roughly £2.9m from tickets sales per annum, there is of course commercial income, sponsorship & L1 TV share on top, but as we have seen from the accounts that & more goes out the door in wages & other costs. My guesstimate is that to break even in L1 whilst mounting a credible push for the playoffs each year we need to be attracting an average attendance of somewhere in the region of at least 9,000, especially if the owner baulks at putting more funds in. I suspect that level of attendance would sustain us for a season or 2 in the lower reaches of the Championship but for the longer term we would need to be looking at probably 12-15,000 as an average gate.
Finally as a comparitor Wrexham have lost over £3m for their owners in the last 12 months & they are 2 tiers below us (https://www.bbc.co.uk/news/uk-wales-65142947), I guess they will lose substantially more once promoted to L2 despite the P&S rules the EFL have.
This is a very worrying situation indeed. I appreciate we were told about the previous year loss and the anticipated loss for this year but seeing it in black and white, it is very scary indeed.
I was informed that we are looking to spend big money on relaying the undersoil heating and the playing surface etc, maybe that is something we should stop now as our pitch still really looks like one of the best in the league. As for the new road, well I always thought that was a pipe dream.
What on earth can the Trust do about this situation? With the Couhigs now owning 90% of the club and a lease on the ground, we really are in a difficult position.
What has Pete Couhig done? Seems reckless to me at best.
Also, I do feel really sad for Bloomers who is going to have to deal with what is likely to be a massive budget cut.
The interview with Rob on WTV yesterday suggests we got £1.5m for Anis, AAH and Gaz. Without being clued up on the finances, where will that fit into the numbers? Does it just go towards offsetting losses?
We'd have had to pay compo for Bloomfield, he was under contract, people keep forgetting that
The ‘ interesting ‘ comment in the latest video is according to Rob , the club is in a phenomenally good place. Accounts don’t appear to reflect that. Perhaps he knows something we don’t. Let’s hope so.
I think he means High Wycombe is a good place for a football ground!
“Phenomenally good place ” would mean to me someone like Bill Gates has in a surprising move given the club a billion .