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Haven't had chance to read it yet but bottom line profit of £10.7M , first profit since 2008
http://m.mcfc.co.uk/?i=12323/1/0&artId=564957

Brilliant news. Just wait until next year and it will dwarf this year once the new TV rights money comes pouring in. An interesting read and you do get the impression this is just the start

nottsblue wrote:Brilliant news. Just wait until next year and it will dwarf this year once the new TV rights money comes pouring in. An interesting read and you do get the impression this is just the start

We aren't Arsenal mate, 10M will do us. Spend the rest on Messi

john@staustell wrote:

nottsblue wrote:Brilliant news. Just wait until next year and it will dwarf this year once the new TV rights money comes pouring in. An interesting read and you do get the impression this is just the start

We aren't Arsenal mate, 10M will do us. Spend the rest on Messi

That's kind of my point. We WILL be able to spend even more sums of money on the very special players if we choose to do so as the funds will be there, whilst the Glazers will just pillage the rags for more money

I have had a word with Michel and pointed out that it is unfair that some clubs are able to spend their profit while others have to use it to service their debt, and he is going to make a change to FFP so that any club that makes a profit without being in debt is fined and the money given to other clubs to pay off their debt. We think this is very fair.

Breaking on SSN .......

Financial expert just given a glowing report on MCFC financial status during an interview just now stating " MCFC are the best run club in the Premier League and are now breathing down the necks of rivals Utd ."

Wow !

City64 wrote:Breaking on SSN .......

Financial expert just given a glowing report on MCFC financial status during an interview just now stating " MCFC are the best run club in the Premier League and are now breathing down the necks of rivals Utd ."

Wow !

Hopefully they can tell Karen Brady as well.

Take that, motherfuckers!

Just goes to show what a disgusting situation the football world not only allowed the club to be in when we fell foul of financial "fair" play - they reveled in it on the whole. Now we're posting a profit and half of Uefa is suspended on corruption charges - surely legal action is looming from the club

Have that you corrupt paedos

Wooders wrote:Just goes to show what a disgusting situation the football world not only allowed the club to be in when we fell foul of financial "fair" play - they reveled in it on the whole. Now we're posting a profit and half of Uefa is suspended on corruption charges - surely legal action is looming from the club

It has to happen surely ?

City64 wrote:Breaking on SSN .......

Financial expert just given a glowing report on MCFC financial status during an interview just now stating " MCFC are the best run club in the Premier League and are now breathing down the necks of rivals Utd ."

Wow !

If we are best run club in league surely we have surpassed the rags?!

well thats us flopping our balls on the table as a big fuck off to the wenger contingent and media cunts. Great news!

Are these financials before or after May 31?
The report I read on ESPN says the profit on player transfers was prior to the huge outlay on Sterling, De Bruyne, and Otamendi, which would surely drop that profit to about a 120m deficit on player transfers. Wouldnt that take away the overall net profit?

You haven't taken account of amortisation. Player transfer fees are written off over the life of the contract. You also haven't taken out of outgoings which account for something.

Saul Goodman wrote:Are these financials before or after May 31?
The report I read on ESPN says the profit on player transfers was prior to the huge outlay on Sterling, De Bruyne, and Otamendi, which would surely drop that profit to about a 120m deficit on player transfers. Wouldnt that take away the overall net profit?

Yes, it is to May 31st, which is the end of our financial year, and those transfers came afterwards so they will go in next year's accounts, as will whatever we get for Edin, Jovetic and the various youngsters we have sold, plus any new commercial deals since then, some of impact of the extended stadium capacity and the effect of any trophies we progress in this season etc. etc.... As with any ongoing business, there is always activity in train when the accounts are taken, but nothing to worry about or diminish the achievement.

Dubciteh wrote:

City64 wrote:Breaking on SSN .......

Financial expert just given a glowing report on MCFC financial status during an interview just now stating " MCFC are the best run club in the Premier League and are now breathing down the necks of rivals Utd ."

Wow !

If we are best run club in league surely we have surpassed the rags?!

I am no financial expert but I think the story there is that the rags have a bigger turnover but still a huge dept , us ...... we are now in profit and have ever increasing huge turnover . Now with the tv deal money to be added in next years figures our financial status will be greater , the rags however will still have huge debt hence we MCFC are the best run club in the Premier league .

Scanned through the report, that's going to make a lot of the haters seethe.

Hutch's Shoulder wrote:

Saul Goodman wrote:Are these financials before or after May 31?
The report I read on ESPN says the profit on player transfers was prior to the huge outlay on Sterling, De Bruyne, and Otamendi, which would surely drop that profit to about a 120m deficit on player transfers. Wouldnt that take away the overall net profit?

Yes, it is to May 31st, which is the end of our financial year, and those transfers came afterwards so they will go in next year's accounts, as will whatever we get for Edin, Jovetic and the various youngsters we have sold, plus any new commercial deals since then, some of impact of the extended stadium capacity and the effect of any trophies we progress in this season etc. etc.... As with any ongoing business, there is always activity in train when the accounts are taken, but nothing to worry about or diminish the achievement.

Got it. Cheers.

Hutch's Shoulder wrote:

Saul Goodman wrote:Are these financials before or after May 31?
The report I read on ESPN says the profit on player transfers was prior to the huge outlay on Sterling, De Bruyne, and Otamendi, which would surely drop that profit to about a 120m deficit on player transfers. Wouldnt that take away the overall net profit?

Yes, it is to May 31st, which is the end of our financial year, and those transfers came afterwards so they will go in next year's accounts, as will whatever we get for Edin, Jovetic and the various youngsters we have sold, plus any new commercial deals since then, some of impact of the extended stadium capacity and the effect of any trophies we progress in this season etc. etc.... As with any ongoing business, there is always activity in train when the accounts are taken, but nothing to worry about or diminish the achievement.

From what I read over summer, the amount received from sales appears all in this year, whereas, as you say, purchases are amortised over the length of the contract. So if Jovetic was £25m over 5 years, he was costing us £5m a year plus wages. We sell him for £10m (can't remember what it actually was), meaning in this year's accounts, we're £15m up, plus wage savings. We then buy de Bruyne for £55m over 6 years, so about £9m a season, so we've got a saving this year and then need to find an extra £4m a season from next year, but by that point, the new TV deal has kicked in, plus the extra seats etc.

Same thing with the other purchases and sales. It also means selling £10m of academy products let's you buy a £50m player. You can understand the reasons for the odd few million spent on kids, as if they don't turn into what we need, selling them on actually works for us.

It's as if Soriano knew what he was doing after all. Maybe he should write a book on how to build a club financially.