Financial Results

[ricky2tricky4city]

We have wriggle room under the rules but maybe not in the cash … the figures don’t look great
But who should we be paying more to?
We’re attracting the level of players that we can attract IMO
We aren’t currently a team that top players what to join even if we offered them silly money
Barca are suffering because even a club of that scale had to do that and it’s biting them now

Barca had backed themselves into a corner, were forced to look at incorporating youth/younger players rather than big money signings.

Yet sit top of La Liga

 

[Finney Is Back]

Yes
Income means nothing … zero
Profit is what makes you rich
How much you make to spend

Well that is actually EBITDA and not 'profit'.

We have also consistently had the highest or near highest EBITDA numbers in the premier league.

 

[Finney Is Back]

Rich means money you have
If you have no money but lots of assets you have a high net worth
But in football terms it means fudge all of you don’t have money to spend
Should also add debt has a huge measure too

Interesting.... So my brother is richer than me because he tends to have a large cash pile while I have invested my money in assets?

I can't wait to tell him he is paying for the summer holiday this year!

 

[Bedfordspurs]

Barca had backed themselves into a corner, were forced to look at incorporating youth/younger players rather than big money signings.

Yet sit top of La Liga

But also have a huge issue again with 2 players that have to deregulated which may affect their ability to win the title

 

[Bedfordspurs]

Interesting.... So my brother is richer than me because he tends to have a large cash pile while I have invested my money in assets?

I can't wait to tell him he is paying for the summer holiday this year!

Well he can pay for it
I assume you would need to liquidate some assets to pay for it
You get that. Turnover means fudge all
That table that gets quoted is turnover
I’ve worked for high turnover companies that make tiny profits and it’s a constant battle because the company has no money

 

[Finney Is Back]

Well he can out for it
I assume you would need to liquidate some assets to pay for it
You get that. Turnover means fudge all
That table that gets quoted is turnover
I’ve worked for high turnover companies that make tiny profits and it’s a constant battle because the company has no money

How rich you are is not determined by profit mate. How rich you are is absolutely determined by assets.

 

[Bedfordspurs]

How rich you are is not determined by profit mate. How rich you are is absolutely determined by assets.

Providing you can pay your bills
How do you pay for your holiday when your money is tied up elsewhere?
That stupid league doesn’t even factor in debt FFS

 

[Finney Is Back]

Providing you can pay your bills
How do you pay for your holiday when your money is tied up elsewhere?
That stupid league doesn’t even factor in debt FFS

Mate.... Whether somebody can instantly pay cash for something or not, if somebody has a higher net worth than somebody else then they are richer than them.

Person A has £50,000 in cash but £2m in assets
Person B is £10,000 of cash but £40m in assets

Person B could sell one of many assets and have more cash than person A.
Person B is considerably richer than person A.

 

[Bedfordspurs]

Mate.... Whether somebody can instantly pay cash for something or not, if somebody has a higher net worth than somebody else then they are richer than them.

Person A has £50,000 in cash but £2m in assets
Person B is £10,000 of cash but £40m in assets

Person B could sell one of many assets and have more cash than person A.
Person B is considerably richer than person A.

Assets
But the debt counts against that
That’s your balance
And you still have bills to pay with cash
Hence why Barca’s not rich

 

[Finney Is Back]

Assets
But the debt counts against that
That’s your balance

A moment ago you were talking that profit determines how rich you are?

 

[Bedfordspurs]

A moment ago you were talking that profit determines how rich you are?

In football terms
Profit is what you can spend
Not turnover
Thy table is turnover
Let’s get that start point right
So it’s a table of turnover not richness
You agree with that, right?

 

[Finney Is Back]

In football terms
Profit is what you can spend
Not turnover
Thy table is turnover
Let’s get that start point right
So it’s a table of turnover not richness
You agree with that, right?

I think I will just give up....

 

[Bedfordspurs]

I think I will just give up....

But you have seen that table right?

 

[ricky2tricky4city]

Show me any post where I have moaned about the way the stadium was financed. I haven't done it because I thought we financed the stadium really well, especially considering the considerable overspend. .

I'm talking about DL posts in general

We have definitely missed a trick (and perhaps missed the boat) with not agreeing stadium sponsorship however. We could've achieved around £90m from that in the period between the stadium being ready and now. That is a nice chunk of the debt paid off.

I think with some hindsight that's true.
We probably asked too much, thinking that a combined PL/NFL stadium sponsorship would carry an extra premium. And any hope got sunk when COVID turned up. As you say, so much time has passed it's been left for a sweetener for new buyers. Definitely money left on the table though

Strange when the headline figures they quote for interest seem to be so good. I wonder whether they're only announcing the headline interest rate figure when quoting the debt and not quoting set up fees that are getting included in the net interest number? The numbers indicate that there is definitely something not being called out.

I was wondering whether finance fees are included in interest costs or elsewhere in the accounts. We did pay a £4.5m finance arrangement/restructuring fee in this accounting period. Although noted as added to the loan to be repaid across the loan term (in good old mortgage style)